Changan Auto, China United, ICBC, SAIC Motor, Vanke: China Equity Preview
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.
Banks and property developers: China’s banking regulator told lenders last month to conduct a new round of stress tests to gauge the impact of residential property prices falling as much as 60 percent in the hardest-hit markets, a person with knowledge of the matter said.
Industrial and Commercial Bank of China Ltd. (601398 CH), the world’s largest lender by market value, fell 0.2 percent to 4.29 yuan. China Construction Bank Corp. (601939 CH), the nation’s second-biggest bank, fell 0.2 percent to 4.91 yuan.
Car makers: China’s car sales will reach 15 million units this year judging by the first half, the official Xinhua News Agency said, citing Dong Yang, vice chairman of the China Association of Automobile Manufacturers.
China United Network Communications Ltd. (600050 CH) will start offering an 8-gigabyte version iPhone with Wi-Fi capabilities on Aug. 9, the China Business News reported, citing an unidentified person from a China Unicom unit. The stock was unchanged at 5.48 yuan.
Chongqing Changan Automobile Co.’s (000625 CH) July vehicle sales fell to 99,854 units from 107,863 a year earlier. The shares rose 1.3 percent to 10.33 yuan.
Dongfeng Automobile Co. (600006 CH), the company that makes light trucks in China with Nissan Motor Co., sold 21,088 cars in July compared with 15,737 units in the same month last year. Car sales in the first seven months rose 53 percent to 169,468 units. The shares rose 2.1 percent to 5.31 yuan.
Founder Technology Group Corp. (600601 CH): Acer Inc., the world’s largest supplier of notebook computers, said it will take over management of most of Founder’s branded PC business. The stock rose 7.6 percent to 5.07 yuan.
Henan Pinggao Electric Co. (600312 CH): The company said first-half net income fell 99 percent to 919,274 yuan ($135,714) because of competition from rivals. The stock was unchanged at 9.88 yuan.
Huafang Textile Co. (600273 CH) will sell 100 million shares in a private placement on Aug. 10. The stock gained 2.5 percent to 14.14 yuan.
Shanghai Pharmaceuticals Holding Co.’s (601607 CH) first- half net income fell 6.4 percent from a year earlier to 766 million yuan. Its shares fell 0.4 percent to 16.48 yuan.
Tongling Nonferrous Metals Group Co. (000630 CH) will sell 2 billion yuan of six-year convertible bonds on Aug. 6. The stock fell 1.1 percent to 16.32 yuan.
Wind turbine makers: Wind turbine prices remain about 15 percent below their peak in 2008 and show little sign of recovering over the next three years, a survey by Bloomberg New Energy Finance found.
Xinjiang Goldwind Science & Technology Co. (002202 CH) rose 0.5 percent to 18.47 yuan.
For Related News and Information: Chinese stocks stories: TNI CHINA STK <GO> The most-read Chinese stock stories: MNI CHS <GO> Global stocks stories: TOP STK <GO> World equity index monitor: WEI <GO> World equity valuations: WPE <GO>