The following companies had unusual price changes in China trading. Stock symbols are in parentheses, and share prices are as of the 3 p.m. close.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, fell 45.6, or 1.5 percent, to 2,964.95. The CSI 300 Index dropped 1.5 percent to 3,249.57.
Dashang Group Co. (600694 CH), a department store operator, surged by the 10 percent daily limit to 43.09 yuan. The company’s net income increased 255 percent to 140.5 million in the first quarter, it said in a statement to Shanghai Stock Exchange yesterday.
Harbin Dongan Auto Engine Co. (600178 CH) plunged by 10 percent to 10.86 yuan. The company’s first-quarter net income dropped 69 percent from a year earlier to 14.8 million yuan, according to a statement to the Shanghai Stock Exchange on April 23.
Henan Shuanghui Investment & Development Co. (000895 CH), the biggest listed meat processer, retreated 7 percent to 58.52 yuan, the lowest close since Nov. 29. The company and its parent refunded 112 tons of meat products, accounting for 4 percent of sales from March 24 to April 20, Shuanghui said in a statement to Shenzhen Stock Exchange on April 22.
Jiangsu Yanghe Brewery Joint-Stock Co. (002304 CH) rose 4.5 percent to 227.79 yuan, its highest close since March 10. The company’s first-half net income may rise 50 percent to 70 percent from a year earlier, according to a statement to the stock exchange.
Kweichow Moutai Co. (600519 CH), the largest liquor maker by market value, gained 3.9 percent to 183.06 yuan, the biggest rise since March 17. The company’s first-quarter net income rose 49 percent from a year earlier to 1.88 billion yuan, beating the 1.81 billion yuan average of three analysts’ estimates compiled by Bloomberg.
Shandong Denghai Seeds Co. (002041 CH), the biggest seed company by market value, lost 6 percent to 49.04 yuan, the lowest since July 22. The company’s first-half net income may fall 20 percent to 50 percent from a year earlier, according to a statement to the exchange. The company’s first-quarter net income dropped 33 percent to 72.5 million yuan.
TCL Corp. (000100 CH), the largest consumer electronics maker by market value, jumped 6.9 percent to 6.20 yuan, the gugehst since March 2008. The company signed an agreement to build a factory in Xinjiang for the production of components for computer monitors and other electronic devices, according to a statement filed to Shenzhen Stock Exchange.
Yunnan Aluminum Co. (000807 CH) slid 5.2 percent to 13.10 yuan. The aluminum products maker said its first-quarter profit slid 85 percent to 2.92 million yuan. The company’s 2010 net income fell 34 percent to 30.5 million yuan.