ZTE, China Railway, Dongfeng Automobile, Maanshan: China Equities 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: China’s lenders may need to make about 600 billion yuan ($88 billion) in provisions for bad local-government loans, the Securities Times reported, citing its own calculations based on figures announced by the government.
Industrial & Commercial Bank of China Ltd. (601398 CH), the nation’s biggest lender, climbed 0.7 percent to 4.18 yuan. China Construction Bank Corp. (601939 CH), the No. 2 lender, added 0.8 percent to 4.82 yuan.
China Merchants Energy Shipping Co. (601872 CH): The company said its first-half net income doubled from a year earlier to 442 million yuan. The shares gained 0.9 percent to 4.68 yuan.
China Railway Erju Co. (600528 CH): The company said its first-half net income rose 67 percent from a year ago to 465 million yuan. The shares gained 0.5 percent to 9.59 yuan.
China Railway Group Ltd. (601390 CH): The company said it has won 24 railroad-related construction contracts worth a combined 39.2 billion yuan. The shares gained 0.7 percent to 4.50 yuan.
Datang International Power Generation Co. (601991 CH): China’s biggest publicly traded electricity producer by market value said first-half profit rose a better-than-estimated 29 percent to 829.7 million yuan. That compares with the 630 million yuan median estimate in a Bloomberg survey of four analysts. The shares gained 0.3 percent to 7.14 yuan on Aug. 18, when they last traded.
Dongfeng Automobile Co. (600006 CH): The truck maker said its first-half net income more than tripled from a year earlier to 382 million yuan. The shares gained 3.5 percent to 5.94 yuan.
Guangxi Liugong Machinery Co. (000528 CH): The construction-equipment maker plans to raise as much as 3 billion yuan through the placement of as many as 150 million shares for no less than 20.61 yuan each. The shares advanced 0.8 percent to 24.47 yuan.
Jiangsu Yanghe Brewery Joint-Stock Co. (002304 CH): The wine-maker’s first-half net income gained 81 percent from a year earlier to 1.07 billion yuan. The shares slid 2.3 percent to 194 yuan.
Maanshan Iron & Steel Co. (600808 CH): China’s second- biggest Hong Kong-traded steelmaker returned to profit in the first half after a demand recovery elevated the company’s steel sales and prices. Shares gained 0.3 percent to 3.56 yuan.
Pingdingshan Tianan Coal Mining Co. (601666 CH): The company said its first-half net income gained 44.5 percent to 1.27 billion yuan. The shares rose 1.6 percent to 18.74 yuan.
ZTE Corp. (000063 CH): China’s second-biggest maker of telephone equipment said its half-year net income gained 12 percent from a year earlier to 877.5 million yuan ($129.2 million). The shares declined 0.4 percent to 22.68 yuan.
To contact Bloomberg News staff for this story: Chua Kong Ho in Shanghai at +86-21-6104-7011 or email@example.com