China Stocks: Chongqing Department Store, Eging, Everbright
Solar stocks: Changzhou Eging Photovoltaic Technology Co. (600537) (600537 CH) jumped 3.2 percent to 20.57 yuan. Shanghai Chaori Solar Energy Science & Technology Co. (002506 CH) advanced 4.3 percent to 14.03 yuan after saying it will supply 150 megawatts of modules this year to China Solar Gmbh.
The head of China’s National Energy Administration Liu Tienan said yesterday that the country plans to double the amount of solar capacity in operation by installing 3 gigawatts this year. The price for polysilicon, the raw material used to make most solar panels, rose 3 percent last week, the most in eight months, Bloomberg New Energy Finance data showed.
Chongqing Department Store (600729) Co. (600729 CH) plunged 8.7 percent to 28.61 yuan, the biggest loss since Nov. 3, 2008. Net income increased 14 percent from a year earlier to 599.3 million yuan ($95 million) in 2011, the company said in a preliminary earnings statement yesterday. That missed the median estimate of 678 million yuan in a survey by Bloomberg News of five analysts.
Everbright Securities Co. (601788) (601788 CH), a unit of the nation’s largest state-owned investment group, slid 0.7 percent to 10.42 yuan. The company reported a loss of 75 million yuan in December.
Northeast Securities Co. (000686) (000686 CH) retreated 0.9 percent to 13.06 yuan. The company had a loss of 151.9 million yuan last year.
--Zhang Shidong. Editor: Chan Tien Hin
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