The following companies may have unusual price changes in China trading. Stock symbols are in parentheses, and share prices are as of the last close.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, dropped 7.60, or 0.3 percent, to 2,900.33. The CSI 300 Index fell 0.4 percent to 3,097.35.
Bank of China Ltd. (601988 CH): The nation’s third-largest lender will invest $100 million in Swire Properties Ltd.’s initial public offering as a cornerstone investor, Hong Kong Economic Times reported, without citing anyone. The shares rose 0.3 percent to 4.05 yuan.
Bank of Ningbo Co. (002142 CH): The lender said first-quarter net income rose 40.7 percent from a year earlier to 498 million yuan ($73 million). The shares slipped 0.1 percent to 12.92 yuan.
Beiqi Foton Motor Co. (600166 CH): China’s biggest commercial-vehicle maker said first-quarter net income increased 179 percent from a year earlier to 518.9 million yuan. The shares fell 1.3 percent to 20.63 yuan.
China Citic Bank Corp. (601998 CH): The banking unit of the nation’s largest investment company said first-quarter profit climbed 28 percent to 4.31 billion yuan as an economic recovery boosted demand for loans and fee-based services. The shares rose 0.7 percent to 5.93 yuan.
China CNR Corp. (601299 CH): The country’s biggest maker of rail and subway cars said first-quarter net income increased 39 percent from a year earlier to 258.6 million yuan. The stock added 1.7 percent to 5.40 yuan.
China CSSC Holdings Ltd. (600150 CH): The unit of the nation’s biggest shipbuilder said first-quarter net income increased 11 percent from a year earlier to 693 million yuan. The shares dropped 1.2 percent to 62.12 yuan.
China Life Insurance Co. (601628 CH): The nation’s biggest insurer said first-quarter profit jumped 67 percent to 10.2 billion yuan as higher bond yields bolstered investment returns and premiums expanded. The stock lost 1.3 percent to 26.10 yuan.
China Merchants Bank Co. (600036 CH): The nation’s fifth-largest lender by market value said first-quarter net income rose 40 percent to 5.91 billion yuan, rebounding from its first annual profit decline in at least six years. The stock rose 0.1 percent to 13.82 yuan.
China Petroleum & Chemical Corp. (600028 CH): The Asia’s biggest oil refiner, also known as Sinopec, said first-quarter profit increased 39.9 percent to 15.79 billion yuan. That’s in line with the 15.8 billion-yuan median estimate of six analysts surveyed by Bloomberg News. The shares added 0.4 percent to 10.03 yuan.
China State Construction Engineering Corp. (601668 CH): The nation’s largest housing contractor said it won a $1.5 billion contract to build roads in Congo. The stock lost 0.5 percent to 3.91 yuan.
FAW Car Co. (000800 CH): The company that makes passenger cars in China with Volkswagen AG said first-quarter net income gained 182 percent to 701 million yuan. The stock rose 1.5 percent to 18.46 yuan.
Hainan Airlines Co. (600221 CH): The Chinese carrier backed by U.S. billionaire George Soros said first-quarter net income surged 693 percent from a year earlier to 252 million yuan. The stock lost 0.5 percent to 7.97 yuan.
Industrial Bank Co. (601166 CH): The lender that’s part-owned by a unit of HSBC Holdings Plc said its first-quarter profit rose 38.7 percent to 4.08 billion yuan. The shares lost 0.4 percent to 28.73 yuan.
Metallurgical Corporation of China Ltd. (601618 CH): The construction company that helped build the “Bird’s Nest” Olympic stadium in Beijing Ltd. said 2009 profit climbed 42 percent to 4.47 billion yuan. The stock fell 0.2 percent to 4.58 yuan.
Ping An Insurance (Group) Co. (601318 CH): The nation’s second-biggest insurer, which entered an agreement in June 2009 to buy a 22 billion yuan stake in Shenzhen Development Bank Co., extended the deadline for the transaction to June 28 from April 30. The stock fell 1.3 percent to 48.99 yuan.
SAIC Motor Corp. (600104 CH): China’s largest carmaker said first-quarter profit jumped 359 percent to 2.88 billion yuan. The stock rose 2.9 percent to 19.13 yuan.
Shanghai Lujiazui Finance & Trade Zone Development Co. (600663 CH): The developer in Shanghai’s financial district said first-quarter net income rose 22 times on a year earlier to 949.5 million yuan. The stock fell 1.7 percent to 19 yuan.
Shanghai Xinhua Media Co. (600825 CH): The stock was raised to “hold” from “sell” at Bank of China by analyst Duke Liu Du. The shares gained 3.1 percent to 15.16 yuan.
Shenzhen Development Bank Co. (000001 CH): The bank said its first-quarter net income rose 40.6 percent from a year earlier to 1.58 billion yuan and aims to boost its capital adequacy ratio to above 10 percent between 2010 and 2012. The stock gained 1.5 percent to 20.14 yuan.
Suning Appliance Co. (002024 CH): China’s biggest home appliance retailer by market value said first-quarter net income gained 86 percent from a year earlier to 883.8 million yuan. The stock added 1.8 percent to 10.99 yuan.