Agricultural Bank of China, Jiangxi Copper, Ping An: China Equity Preview

Sep 2 (Bloomberg)--

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.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, dropped 15.92, or 0.6 percent, to 2,622.88.

The CSI 300 Index fell 0.7 percent to 2,884.04.

Agricultural Bank of China Ltd. (601288 CH): China’s third- largest bank by assets said it received regulatory approval to start a financial leasing unit with 2 billion yuan ($293.7 million) of registered capital. The stock dropped 0.4 percent to 2.68 yuan.

China Railway Group Ltd. (601390 CH): The nation’s biggest construction company by total assets aims to increase income from real estate development by 80 percent this year to 10 billion yuan, the South China Morning Post said, citing Chief Financial Officer Li Jiansheng. The shares dropped 1.4 percent to 4.32 yuan.

CSR Corp. (601766 CH): The maker of rail vehicles said it agreed to supply 30 sets of 1.65-megawatt wind turbines to power producer China Datang Corp. The shares dropped 1.2 percent to 5.07 yuan.

Huayi Brothers Media Corp. (300027 CH): The film producer said box-office receipts of one of its movies about the 1976 Tangshan earthquake reached 650 million yuan on the mainland market as of Aug. 31. The stock fell 3.3 percent to 31.55 yuan.

Jiangxi Copper Co. (600362 CH): China’s biggest copper producer said its parent company bought 60.4 million Hong Kong- listed shares in the company. The company gained 1.5 percent to 31.25 yuan.

Ping An Insurance (Group) Co. (601318 CH): China’s second- largest insurer said it will merge its bank unit into Shenzhen Development Bank Co. in a deal valued at about 29.1 billion yuan to consolidate banking operations and comply with a government regulation. Ping An will resume trading today after closing at 46.81 yuan on June 28. Shenzhen Bank slid 5.3 percent to 17.51 yuan on June 29 before trading was suspended.

Wuxi Little Swan Co. (000418 CH): The washing machine maker said it plans to invest 740 million yuan to build a production site in Guangzhou. The production site is expected to have an annual capacity of 8 million washing machines, it said. The shares fell 1.2 percent to 17.15 yuan.