China Stocks: Bank of China, ICBC, SAIC Motor, Shandong Helon
Bank of China Ltd. (601988 CH), the nation’s fourth-biggest lender by market value, added 2.1 percent to 2.98 yuan. Fourth- quarter net income climbed 11 percent from a year earlier to 27.9 billion yuan ($4.4 billion) in 2011, according to calculations based on figures published by the Beijing-based lender today. Profit beat the 25.7 billion-yuan average estimate of 23 analysts surveyed by Bloomberg.
Industrial & Commercial Bank of China Ltd. (601398 CH), the nation’s biggest listed lender, rose 1.2 percent to 4.33 yuan after reporting a 17 percent increase in four-quarter net income to 44.4 billion yuan. That compared with the 43.4 billion-yuan average estimate of 22 analysts in a Bloomberg survey.
SAIC Motor Corp. (600104) (600104 CH), China’s largest carmaker, jumped 4.2 percent to 14.83 yuan, its biggest gain since Jan. 17. Net income rose 23 percent from a year earlier to 20.2 billion yuan last year, SAIC Motor said in a statement yesterday. That beat the 18.4 billion yuan average of nine analyst estimates compiled by Bloomberg.
Shandong Helon Co. (000677) (000677 CH), a fiber manufacturer, tumbled 5 percent to 4.58 yuan after a seven-month suspension. The company said it may report a net loss of 1 billion yuan last year as sales prices slumped due to weak demand and raw materials costs remained high.
--Zhang Shidong. Editor: Allen Wan
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