Chalco, China Life, ICBC, Midea, Shenhua: 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.
Aluminum Corp. of China Ltd. (601600 CH): Parent company chairman Xiong Weiping said the listed company will post a profit this year, the China Daily reported today. The shares of the listed unit of nation’s biggest maker of the lightweight metal and also called Chalco, slid 1.8 percent to 10.19 yuan.
Bank of China Ltd. (601988 CH): China’s fourth-largest lender by assets said its currency trade between the yuan and Russian ruble exceeded 10 million yuan ($1.5 million) in the three trading days beginning Dec. 15. Total transactions for all banks were more than 14 million yuan for the days. The stock fell 0.6 percent to 3.25 yuan.
China First Heavy Industries Co. (601106 CH): The maker of equipment used in the mining and energy industries said the company won five contracts worth a combined 823.6 million yuan. The shares added 3 percent to 6.26 yuan.
China Life Insurance Co. (601628 CH): China’s biggest life insurer and its parent plan to double the registered capital of their property insurance unit to 8 billion yuan, from 4 billion yuan. The stock fell 2.1 percent to 22.16 yuan.
China Shenhua Energy Co. (601088 CH): The unit of the biggest coal producer will pay a total of 8.7 billion yuan to buy assets and equity stakes in 10 companies from its parent and some of its subsidiaries. The stock fell 2.3 percent to 24.32 yuan.
China Southern Airlines Co. (600029 CH): The nation’s biggest carrier by fleet size said Hebei Aviation Investment Group Co. will invest 1.46 billion yuan in its Xiamen Airlines Co. unit for a 15 percent stake. The stock retreated 3.2 percent to 9.11 yuan.
GD Midea Holding Co. (000527 CH): China’s second-biggest publicly traded appliance maker said it has won approval from the China Securities Regulatory Commission for a private share placement. The stock rose 2.1 percent to 17.45 yuan on Dec. 17 before trading suspension.
Guangxi Liugong Machinery Co. (000528 CH): The maker of construction equipment said it expects to meet this year’s sales target of 15 billion yuan. The stock added 2.4 percent to 39.16 yuan.
Hisense Electric Co. (600060 CH): The home appliance maker said 126 million shares, or 14.5 percent of its total shares, will become tradeable on Dec. 24. The stock lost 1.2 percent to 12.69 yuan.
Industrial & Commercial Bank of China Ltd. (601398 CH): The nation’s biggest listed lender said it received approval from Pakistan to open a branch in the Asian country. Separately, the bank’s rights offering in Hong Kong was seven times oversubscribed, Sing Tao Daily reported citing, unidentified people familiar with the matter. The stock dropped 0.7 percent to 4.19 yuan.
Rizhao Port Co. (600017 CH): China’s fourth-largest port for handling coal said it won approval from the China Securities Regulatory Commission for its plan to sell as many as 390 million shares via a private placement. The shares lost 2.1 percent to 4.17 yuan.
Shanghai Qiangsheng Holding Co. (600662 CH): The taxi and mini-bus operator said its plan to sell shares to finance the purchase of assets from its parent won conditional approval from the China Securities Regulatory Commission. The stock gained 1.5 percent to 7.71 yuan on Dec. 14, the last trading day before the shares were suspended.
Starway Bio-technology Co. (300143 CH): The agricultural byproducts maker expects net income this year to rise from 97 percent to 121 percent to as much as 45 million yuan. The stock gained 1.2 percent to 60.01 yuan.
To contact the editor responsible for this story: Darren Boey at email@example.com