Dongfang Electric Corp., Shanxi Coal International: 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.
China CAMC Engineering Co. (002051 CH): The engineering construction company said it won a 1.96 billion yuan ($294.7 million) water-pipe order from Iran. The stock rose 1.8 percent to 55.30 yuan.
Gree Electric Appliances Inc. (000651 CH): China’s largest maker of home air-conditioners said third-quarter net income rose 73 percent from a year earlier. The stock dropped 0.4 percent to 17.95 yuan.
Henan Pinggao Electric Co. (600312 CH): The manufacturer of high voltage equipment had its stock rating lowered to “underperform” from “neutral” by Victoria Li at Credit Suisse Group AG, who said the company faces rising risk from yen appreciation. The stock dropped 2.2 percent to 12.77 yuan.
Jinduicheng Molybdenum Co. (601958 CH): Asia’s largest producer of the metal used to harden steel said third-quarter net income fell 54.4 percent from a year earlier. The shares gained 2.5 percent to 23.10 yuan.
Maanshan Iron & Steel Co. (600808 CH): China’s fourth- largest listed steelmaker said third-quarter profit fell 99.6 percent because demand slowed and high prices of raw materials eroded margins. The stock rose 0.5 percent to 3.89 yuan.
Ping An Insurance (Group) Co. (601318 CH): China’s second- biggest insurer is diversifying into property and private equity and increasing its holdings in Chinese stocks to boost investment performance after its worst year since 2005, Timothy Chan, Ping An’s deputy chief investment officer, said in an interview yesterday. The stock dropped 2 percent to 65.67 yuan.
Shanxi Coal International Energy Group Co. (600546 CH) : The coal producer said third-quarter net income rose 16 percent from a year earlier to 200.9 million yuan, according to a statement to the Shanghai stock exchange. The shares rose 10 percent to 34.87 yuan.
Shenzhen Zhongjin Lingnan Nonfemet Co. (000060 CH): The third-largest zinc producer said it suspended output at its Shaoguan smelter after authorities found that excessive levels of thallium were discharged by the plant into a river. The stock retreated 1.2 percent to 21.22 yuan on Oct. 20 before trading was suspended.
Wuliangye Yibin Co. (000858 CH): The second-biggest maker of white liquor by market value said third-quarter profit rose 63 percent from a year earlier. The shares dropped 1.1 percent to 35.77 yuan.
Yunnan Copper Industry Co. (000878 CH): The fourth-biggest producer of the metal said third-quarter net income fell 86 percent from a year earlier. The shares gained 3.9 percent to 28.44 yuan.
Zhongyuan Environment Protection Co. (000544 CH): The company said third-quarter profit jumped 165 percent from a year earlier. The stock rose 0.6 percent to 12.86 yuan.
To contact the editor responsible for this story: Linus Chua at email@example.com