China Stocks: Guangzhou Development, Huaguang, Huamao, TCL

Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses as of 3 p.m. close.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, rose 3.51 points, or 0.1 percent, to 2,797.77. The CSI 300 Index (SHSZ300) gained 0.2 percent to 3,109.18.

Anhui Huamao Textile Co. (000850) (000850 CH), a textile maker, jumped 3.7 percent to 8.80 yuan, the highest close since April 21. The company said it expects first-half net income to rise by as much as 500 percent from a year earlier to 371 million yuan ($57 million).

Guangzhou Development Industry (Holdings) Co. (600098 CH), a power supplier, jumped by the 10 percent daily limit to 7.47 yuan, its highest close since May 24. The company said it plans to acquire Guangzhou Gas Group Co. from its parent through a share swap valued at as much as 4.5 billion yuan. The stock resumed trading today after being suspended since June 20.

TCL Corp. (000100) (000100 CH), China’s biggest publicly traded consumer-electronics maker, added 1 percent to 3 yuan. TCL said its net income for the first half of the year may have risen as much as 240 percent from a year earlier to about 540 million yuan.

Wuxi Huaguang Boiler Co. (600475 CH), a manufacturer of power-station boilers, slid 3.7 percent to 19.79 yuan, its biggest decline since June 22. The company said President He Xuliang accidentally fell to his death on July 6.

--Zhang Shidong. Editor: Allen Wan

To contact Bloomberg News staff for this story: Zhang Shidong in Shanghai at +86-21-6104-3040 or szhang5@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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