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Bank of China, China Eastern, Haier: China Equity Preview

July 16 (Bloomberg) -- 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 46.14, or 1.9 percent, to 2,424.30. The CSI 300 Index fell 1.7 percent to 2,608.52.

Bank of Communications Co. (601328 CH): The company raised HK$17.8 billion ($2.29 billion) in an H-share rights offer, selling 3.46 billion shares, according to a statement to the Hong Kong stock exchange. The shares declined 2.4 percent to 6.09 yuan.

Beijing Huaye Real Estate Co. (600240 CH): The company said first-half net income probably rose 116 percent from a year earlier to about 100 million yuan ($15 million) due to sales at a project in the southern city of Shenzhen, according to a statement to Shanghai’s stock exchange. Its shares fell 2 percent to 6.01 yuan.

Changlin Co. (600710 CH): The company said its first-half net income probably rose more than 800 percent from a year earlier due to increased investment income and sales, according to a statement to Shanghai’s stock exchange. The shares declined 3.8 percent to 8.63 yuan.

China Eastern Airlines Corp. (600115 CH): The airline company’s first-half profit probably increased more than 50 percent compared with the same period last year when it earned 1.17 billion yuan, the company said in a statement to the Hong Kong stock exchange. The stock dropped 3.8 percent to 6.66 yuan.

China Shipbuilding Industry Co. (601989 CH): The company said it will sell shares to seven companies, including its parent, in exchange for stakes in four shipbuilding companies for 17.33 billion yuan, according to a statement to the Shanghai Stock Exchange. The company may sell 2.5 billion A shares at 6.93 yuan apiece, it said. The stock suspended trading since May 5 and will resume trading July 16.

Datang International Power Generation Co. (601991 CH): The power producer reported that electricity generation increased 31.75 percent in the first half to 80.786 billion kilowatt hours, according to a filing to the Hong Kong Stock Exchange. The stock dropped 1.2 percent to 6.77 yuan.

Metro Land Co. (600683 CH): The company said first-half net income probably rose 500 percent to 550 percent to 115 million yuan to 125 million yuan after it sold a unit, according to a statement to Shanghai’s stock exchange. The shares slid 4.1 percent to 6.03 yuan.

Qingdao Haier Co. (600690 CH): The company said profit in the first half probably gained by more than 50 percent compared with a year ago, according to a statement to the Shanghai stock exchange. The stock climbed 0.5 percent to 20.64 yuan.

To contact Bloomberg News staff for this story: Zhang Shidong in Shanghai at szhang5@bloomberg.net

To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net

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