China Stocks: BYD, China Shipping Container, Kweichow Moutai
BYD Co. (002594) (002594 CH), the automaker part-owned by Warren Buffett’s Berkshire Hathaway Inc., retreated 3.7 percent to 26.39 yuan, its lowest close since March 28. First-half profit may fall as much as 95 percent from a year earlier because of reduced earnings from solar energy and mobile handsets, the automaker said in a statement yesterday.
China Shipping Container Lines Co. (601866) (601866 CH), the country’s second-largest carrier of sea-cargo boxes, slid 1.3 percent to 3.08 yuan. The company posted a loss of 1.45 billion yuan ($230 million) in the first quarter, the shipping line said in a statement yesterday.
Kweichow Moutai Co. (600519) (600519 CH), China’s biggest producer of baijiu liquor by market value, gained 1.8 percent to 216.69 yuan. Net income for the first quarter increased 58 percent from a year earlier to 2.97 billion yuan. The company plans to invest 3.58 billion yuan on liquor-making facilities to boost production, Moutai said in a statement yesterday.
--Zhang Shidong. Editor: Chan Tien Hin
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