Baoding Tianwei, BYD, Yunnan Copper: China Equity Preview
Stock Chart for Baoding Tianwei Baobian Electric Co Ltd (600550)
Shares of the following companies may have unusual moves in China trading. Stock symbols are in parentheses and prices are as of the previous close, unless stated otherwise.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, gained 3.54 points, or 0.1 percent, to 2,816.35. The CSI 300 Index (SHSZ300) rose less than 0.1 percent to 3,122.50.
Baoding Tianwei Baobian Electric Co. (600550 CH): The electric equipment maker secured China Securities Regulatory Commission approval to sell 1.6 billion yuan ($247.4 million) of seven-year bonds. The shares gained 1.4 percent to 19.2 yuan.
BYD Co. (002594 CH): The automaker part-owned by Warren Buffett’s Berkshire Hathaway Inc. will end a joint venture contract with Compagnie Generale de Location d’Equipements because of differences in operational strategies. The company said it will halt trading of its shares until 10:30 a.m. today after the stock rose 20 percent over three trading days. The shares rose 7.3 percent to 33.05 yuan.
FSPG Hi-Tech Co. (000973 CH): The plastics maker expects first-half net income to increase about 115 percent from a year earlier to 117.7 million yuan. The shares were unchanged at 14.17 yuan.
Guangdong Electric Power Development Co. (200539 CH): The electricity supplier failed to get approval from the China Securities Regulatory Commission for its asset purchase plan. Trading will resume from today, according to a statement to the Shenzhen Stock Exchange.
Hainan Haiyao Co. (000566 CH): The company expects net income for the first half to rise as much as 350 percent to 123 million yuan. The stock rose 1.5 percent to 23 yuan.
Jiangsu Jianghuai Engine Co. (000816 CH): The company will pay 549 million yuan for a 60 percent stake in mining company Tibet Zhongkai Mineral Industry Holding Co. The shares added 0.6 percent to 8.49 yuan.
Kingfa Sci & Tech Co. (600143 CH): The modified plastic product maker expects first-half net income to increase more than 200 percent from 194 million yuan a year earlier. The shares lost 0.6 percent to 17.1 yuan.
Sansteel MinGuang Co. (002110 CH): The largest steelmaker in Fujian province got approval from the China Securities Regulatory Commission to sell no more than 1 billion yuan of bonds. The shares gained 0.5 percent to 10.73 yuan.
XCMG Construction Machinery Co. (000425 CH): China’s biggest crane maker plans to raise $1 billion to $1.5 billion and start trading in Hong Kong in late September or early October, two people with knowledge of the matter said. The stock slipped 1 percent to 25.33 yuan.
Yunnan Copper Industry Co. (000878) (000878 CH): China’s fourth- biggest producer of the metal said first-half net income may have risen 171 percent to 566 million yuan from a year earlier because of gains in product prices. The stock fell 0.6 percent to 22.31 yuan.
Zhejiang Guyuelongshan (600059) Shaoxing Wine Co. (600059 CH): The yellow liquor maker expects net income to rise more than 60 percent in the first half from about 52 million yuan a year earlier. The stock rose 0.2 percent to 11.04 yuan.
--Zhang Shidong, Feifei Shen. Editor: Allen Wan
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