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Changhong, Jianghuai Auto, TCL, Zijin: China Equity Preview

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Aug. 4 (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, fell 1.7 percent to 2,627. The CSI 300 Index declined 1.8 percent to 2,865.97.

Automakers: China may invest more than 100 billion yuan ($14.8 billion) in the alternative-energy vehicles industry during the next 10 years, the Shanghai Securities News reported today, without citing anyone.

SAIC Motor Corp. (600104 CH), China’s largest automaker, slid 3.5 percent to 15.07 yuan. Chongqing Changan Automobile Co. (000625 CH), which makes cars with Ford in China, fell 3.1 percent. Anhui Jianghuai Automobile Co. (600418 CH) formed a joint venture with a company in Tianjin to develop alternative-energy cars. Its shares fell 0.9 percent to 8.78 yuan.

Gold producers: Gold prices rose, capping the longest rally in almost four months, as China, the world’s second-biggest buyer, plans to relax rules on trading the metal.

China may “increase foreign members on the Shanghai Gold Exchange and will also study ways to allow foreign qualified bullion suppliers to deliver to the exchange,” the People’s Bank of China said yesterday.

Zijin Mining Group Co. (601899 CH), China’s largest gold producer, fell 1.8 percent to 6.16 yuan. Shandong Gold Mining Co. (600547 CH) advanced 0.4 percent to 36.38 yuan.

Television makers: Panasonic Corp., the world’s biggest maker of plasma televisions, may cut television prices by as much as half in China to qualify for government subsidies and spur sales in the world’s third-largest economy.

TCL Corp. (000100 CH): China’s biggest television maker, fell 2.9 percent to 4.09 yuan. Sichuan Changhong Electric Co. (600839 CH), the second-biggest, fell 1.7 percent to 4.13 yuan.

Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co. (600111 CH): The company plans to invest 232.4 million yuan in Ganzhou city, Jiangxi province. The stock slid 0.2 percent to 43.20 yuan.

China Petroleum & Chemical Corp. (600028 CH): The company’s $9 billion joint venture refinery in the Guangdong province may receive government approval by the end of the year, partner Petrochemical Industries Co. of Kuwait said. Sinopec, as the Chinese company is known, fell 2.1 percent to 8.72 yuan.

Luoyang Glass Co. (600876 CH): The company expects to post a profit in the first half compared with a net loss a year earlier. The stock fell 0.7 percent to 8.33 yuan.

Southwest Securities Co. (600369 CH): The company received government approval to set up two sales branches in Chongqing municipality. The stock fell 1.5 percent to 13.62 yuan.

Yuan Longping High-Tech Agriculture Co. (000998 CH): The company said first-half net income fell 32 percent to 20.6 million yuan ($3.04 million) from a year earlier. The stock fell 2.5 percent to 20.20 yuan.

To contact Bloomberg News staff for this story: Baizhen Chua in Beijing at bchua14@bloomberg.net

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

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