Bloomberg News

China Stocks: Fenglin Wood, Qingdao Eastsoft, Zhenhua Heavy

September 29, 2011

Sept. 29 (Bloomberg) -- Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses as of 3 p.m. close.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, fell 26.72 points, or 1.1 percent, to 2,365.34, its lowest close since July 5, 2010. The CSI 300 Index declined 0.9 percent to 2,588.19.

Guangxi Fenglin Wood Industry Group Co. (601996 CH), a fiberboard producer, lost 5.5 percent from the offer price to 13.23 yuan on its first day of trading in Shanghai today.

Qingdao Eastsoft Communication Technology Co. (300183 CH) advanced 1.6 percent to 46.10 yuan, its highest close in a week. Profit for the first nine months may rise between 120 percent and 150 percent from a year earlier on increasing sales, the company said in a statement yesterday.

Shanghai Zhenhua Heavy Industries Co. (600320 CH), the world’s biggest maker of container cranes, added 1.3 percent to 5.60 yuan. Zhenhua said it signed sales agreements for 980 million yuan to deliver ships by the end of this year.

--Zhang Shidong. Editor: Richard Frost

To contact Bloomberg News staff for this story: Zhang Shidong in Shanghai at szhang5@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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