BYD, Everbright Securities, Shandong Gold: China Equity Preview
Shares of the following companies may have unusual moves in China trading. Stock symbols are in parentheses and prices are as of the previous close, unless stated otherwise.
Beiqi Foton Motor Co. (600166 CH): The automaker’s parent company Beijing Automotive Group will build a $176 million truck plant in Russia with local partner AMS Auto, the official Xinhua News Agency said. The shares fell 1.2 percent to 9.34 yuan.
BYD Co. (002594 CH): The Chinese automaker part-owned by Warren Buffett’s Berkshire Hathaway Inc. will raise investments in a Shenzhen-based lithium battery-maker and a Tibet-based lithium miner following an A-share issue, the company said in statements to Shenzhen’s stock exchange. The shares fell 6.2 percent to 30.05 yuan.
Everbright Securities Co. (601788 CH): The Shanghai-based broker received approval from the China Securities Regulatory Commission to set up five branches, according to a statement to the Shanghai Stock Exchange. The shares fell 1.7 percent to 13.39 yuan.
Shandong Gold Mining Co. (600547 CH): The gold miner has resumed production at its mines after safety checks, according to a statement to the Shanghai Stock Exchange. The company on July 12 said production was halted for inspection after an accident at another local mining company. The shares gained 1.9 percent to 51.25 yuan.
Shanghai International Airport Co. (600009 CH): The Pudong- airport operator said passenger traffic in June fell 5.3 percent from a year earlier to 3.37 million, according to a company statement to Shanghai’s stock exchange. Takeoffs and landings rose 2.4 percent to 28,119 last month, while cargo fell 4.2 percent in the same period to 256,600 metric tons, the statement said. The shares declined 2.2 percent to 13.68 yuan.
Zijin Mining Group (601899 CH): A shareholder of Zijin, China’s biggest gold producer by market value, is selling 338.4 million shares to raise as much as $191 million, according to a term sheet obtained by Bloomberg News. The shares are being offered at HK$4.22 to HK$4.36 each, according to the term sheet, which didn’t disclose the name of the selling shareholder. The stock in the A-share market advanced 1 percent to 5.83 yuan.
--Zhang Shidong, Feiwen Rong. Editors: Glenn J. Kalinoski, Richard Richtmyer
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