Bloomberg News

China Stocks: Chalco, Shanghai Chaori Solar, United Electronics

December 20, 2011

Dec. 20 (Bloomberg) -- Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses and prices are as of the close.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, fell 2.31 points, or 0.1 percent, to 2,215.93. The CSI 300 Index declined 0.3 percent to 2,377.07.

Aluminum Corp. of China Ltd. (601600 CH), the listed unit of nation’s biggest maker of the lightweight metal and also called Chalco, slid 0.6 percent to 6.57 yuan. Shenyin & Wanguo Securities Co. lowered Chalco’s earnings per-share forecast for this year by 38 percent to 0.05 yuan and for 2012 by 18 percent to 0.18 yuan, citing capacity expansion and rising costs from increases in power rates, Ye Peipei, Guo Peng and Xu Ruoxu, analysts at the Shanghai-based brokerage, said in a report today.

Shanghai Chaori Solar Energy Science & Technology Co. (002506 CH) advanced 4.4 percent to 15.57 yuan, its highest close since Dec. 1. The company will supply 60 megawatts of solar modules to Japan next year for $75 million, Chaori said in a statement today.

United Electronics Co. (002642 CH) rose 16 percent from its offer price to 28.97 yuan on its first day of trading in Shenzhen.

--Zhang Shidong. Editor: Shiyin Chen

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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