A look inside the 22 listing candidates

Huaneng International Joint Stock Company is a Beijing-incorporated power supply company, formerly known as Huaneng International Power Development. It consists of five thermal power plants in Dalian, Fuzhou, Nantong, Shangan and Shantou, with total capacity of 2.9 million megawatts.

The company is a Sino-foreign joint venture, 60 per cent owned by China Huaneng group. China Resources Holdings and China Development Investment (Hong Kong) hold a respective 10 per cent and 15 per cent.

Shandong Huaneng Electricity Joint Stock Company is also a Beijing-incorporated supply company with seven separate power companies. It consists of the power plants in Dezhou, Weihai and Jining with total capacity of one million megawatt. The company is amember of the Huaneng group.

Shandong International Power Development Company is a power supply company incorporated in Jinan, Shandong province. It originally consisted of four power and energy companies and was reorganised and merged with three companies.

The power plant operator intends to spend US$2.5 billion to boost its annual capacity to six million megawatts in 1999 from the existing three million megawatts.

The proceeds raised from the flotation will be used to feed the expansion program.

China Harbin Power Plant Equipment Group, based in the northeastern province of Heilongjiang, was established in 1984 and now claims a 40 per cent market share in China.

It makes oil boilers, steam turbine generators and hydroelectric generators to equip power plants. Current capacity is 3,600 megawatts per year. The company plans to spend one billion yuan to raise capacity to 6,000 megawatts by 1997.

Last year, it made taxed profits of 170 million yuan on sales of two billion yuan, by domestic accounting principles.

Foreign-exchange earnings from exports topped US$20 million last year, half the 1992 figure. Exports account for 15 per cent of its sales.

Northeast Electric Transmission and Transformation Equipment Corp is a transformer maker, incorporated in Shenyang, Liaoning province.

It produces power transformers, instrument transformers, reactors, high-voltage switch gear, surge arresters, power cables and wires, and other power and electrical apparatus, for use to distribute power plant-generated electricity.

The company claims to be China's largest transformer company. Output value for 1992 stood at 700 million yuan.

Datang Power Company is a power supply company incorporated in Hebei province, formerly known as China Hebei Power Company Group.

It consists of existing power plants in Douhe, Gaojing, Xiahuayuan, and newly built plants: the second phase of the Datong plant, and the second phase of the Shalingzi plant.

It also embrace plants under construction such as Shalingzi number three and number four plants.

China Southern Airlines, is one of the three main enterprise groups under the Civil Aviation Administration of China (CAAC). It is an air transport company based in Guangzhou.

It had a fleet of 53 aircraft operating on 30 international routes and 155 domestic routes at the end of 1992. Last year, it made a profit of 550 million yuan.

The airline plans to open new routes to North America and Japan. Targets for passengers and income were respectively set at 20 million per year, and 10 billion yuan per year.

China Eastern Airways, also one of the three main enterprise groups under the Civil Aviation Administration of China (CAAC). The other is Beijing-based Air China Group.

It is a core enterprise of the China Eastern Airlines (Group) based in Shanghai. It has 69 aircraft operating on 20 international air routes and 130 domestic routes.

It made a taxed profits of about 640 million yuan last year. Total fixed assets of 11 billion yuan were recorded last year.

Last year, the company ordered five Airbus-340s from Europe, with delivery expected within two years.

Xian Aircraft International Joint-stock Company is an aircraft industrial company incorporated in Beijing. It plans to turn its Xian Aircraft Industrial Company into its core business and to inject the assets of 10 more aircraft enterprises into the listed vehicle.

The company is intended to be reorganised into a joint stock company with limited liability. It was the 431th largest Chinese industrial enterprise with total sales of 423 million yuan in 1992.

It is engaged in the manufacturing of civil and military aircraft and the production of spare parts for overseas aircraft makers. Its client includes Boeing Aerospace of the US, Canadian Airlines International, Alitalia and Air France.

Dongfeng Motor Corporation, formerly known as No.2 Automotive Manufacturing Corporation, is located in Shiyan city in Hubei province which is one of several motor vehicle manufacturing bases in China. It adopted its present name in September, 1992.

The company was ranked the eighth largest Chinese industrial enterprise in 1992 with annual sales of 9.86 billion yuan. It has total staff of 90,000.

It produces Dongfeng cars and has a joint venture for making sedans with France's Citroen.

Its products are mainly for domestic sales, with a small proportion for exports to Southeast Asia countries.

Qingling Automobiles Company is a car manufacturing company, incorporated in Chongqing, Sichuan province. It is a joint venture between mainland parties and Japan's Isuzu.

Main products are lorries and heavy vehicles under the Isuzu name.

Its sister company on the mainland, Jiangling Automobiles, in Jiangxi province, is also a joint venture between mainland parties and Isuzu.

Jiangling's A shares for domestic mainland investors have been listed in Shenzhen. Its B shares for foreign investors are expected this year.

The Guangzhou-Shenzhen Railway Co is the most profitable railway line under the auspices of the Ministry of Railways. Foreign-exchange earnings for last year accounting for 70 per cent of the revenue of all of China's railways.

The company is under the control of Guangdong Railway Group which in turn is under the umbrella of the ministry.

It runs railway transport businesses from Guangzhou to Shenzhen. A modernised line from Guangzhou to Shenzhen is being planned.

Trial operations of the planned 147-kilometre line are expected by the end of this year.

Total investment on the computer-controlled line was put at four billion yuan.

The journey from Guangzhou to Shenzhen on the modernised line should take one hour, half the existing travel time.

The company has assets of about 1.9 billion yuan.

Chengdu Cable Plant, in Chengdu, Sichuan province, was founded in 1958 and produces telecommunications cable. Proceeds from its flotation will fund its plan to switch from manufacturing coaxial cable to fibre optical.

Tianjin Pipe Corporation, a manufacturer of steel pipes for use in oil-drilling, is a young enterprise with operations beginning less than two years.

It has strong backing from the State Council due to China's growing demand for seamless steel pipes and close links with the steel industry, a key sector of the country.

Capital investment on the plant stood at 11.6 billion yuan. A large bulk of that went towards the imported facilities from the US, Italy and Germany.

It is the only enterprise in the second batch that is without a three-year track record.

Last year, an output of 75,000 tonnes of steel pipes made it the largest of its kind in China. It has equipped the Shengli Oil field in Shandong and the Zhongyuan oil field in Henan.

A production of 300,000 tonnes of steel pipes has been targeted this year.

It has a workforce of about 6,000 on a four sq km site.

Jilin Chemical Industrial Company, based in the northeastern city of Jilin near the River Songhua, was originally established by the Ministry of Chemical Industry to develop coal chemicals, including dyestuffs and intermediates.

When crude oil was discovered in Jilin, the company diversified. It now uses coal and petroleum as its major materials. The products are divided into inorganic chemicals, organic chemicals, fertilisers, dyestuff and intermediates, pesticide and other fine chemicals.

The company has more than 4,000 regular clients and was the 13th largest Chinese industrial enterprise with total sales of 6.20 billion yuan in 1992. It has a staff of 134,000.

Along with the deepening of economic reforms and the transition of enterprise managerial mechanism in China, Jilin has unified the assets and management of about 30 enterprises in Jilin, Liaoyuan and Suzhou since 1987.

It has also linked up with 35 enterprises of different sectors in the country through equity holdings.

Shanghai Petrochemical Industrial, which has been listed on the Hong Kong stock exchange among the first batch of ''H'' shares, was the ninth largest with sales of 8.79 billion yuan in 1992.

Zhenhai Petrochemical Industry is under the auspices of the state refiner China Petrochemical Corporation (Sinopec). The company is rather small in scale compared with Shanghai Petrochemical and Jilin Chemical.

It was the 47th largest Chinese industrial enterprise in 1992 with annual sales of 2.52 billion yuan.

The Zhenhai plant is located in Ningbo, Zhejiang province. Zhenhai is among the easily accessible coastal refineries in China including Dalian, Maoming, Nanjing and Shanghai.

Wuhan Iron and Steel, ranked China's fifth-biggest enterprise in 1992, is the largest producer of steel sheets and plates of the country.

It was originally established in 1952 under the auspices of Ministry of Metallurgical Industry.

It has total fixed assets worth 5.78 billion yuan and a total of 121,000 staff as at 1992. Total output reached five million tonnes in that year.

It makes more than 200 products, including cold-rolled sheets, galvanised sheets, tinned plates, cold-rolled silicon sheets, colour coating sheets and heavy plates.

The sales target for this year has been set at 17.6 billion yuan, with taxed profits of 3.45 billion yuan and each worker's income at 8,000 yuan per year.

Foreign-exchange income is expected to reach US$120 million yuan, with non-steel products accounting for 13 per cent of the company's business.

Guangdong Foshan Ceramics Joint-Stock Co is claimed to ebe the largest of its kind in China, with sales of about two billion yuan (about HK$1.77 billion) in 1993. Its after-tax profit was about 150 million yuan after paying income tax at 33 per cent, while total assets stood at about 1.6 billion yuan, according to an official of the company.

Foshan Ceramics is engaged in the manufacturing of wall and floor tiles and sanitary ware, mainly for domestic sales. About 10 per cent of its products are for exports with foreign exchange income of US$20 million a year.

The company has 56 associates and subsidiaries with a total staff of 21,000. It has been working on shareholding restructuring since last January.

Foshan Ceramics is now 50 per cent owned by the State Assets Bureau and the Foshan municipal government. Another 30 per cent by Chinese legal entities and the remaining 20 per cent by the company's employees.

Panda Electronics is a manufacturer of televisions, videos and telecommunications equipment such as satellite dishes.

It has a market share of more than 15 per cent for televisions and six per cent for videos in China. Last year, it had revenue of 2.7 billion yuan.

The company has set up a telecommunications venture with a Swedish firm and is negotiating co-operation agreements with the world's major electronic firms in Japan, France, South Korea and Israel on the development of video-recorders, televisions and air-conditioners.

Profits for last year exceeded 100 million yuan. It has a workforce of 9,300.

Jinwei Textile Machinery Plant is a maker of textile machinery, incorporated in Yuci, Shanxi. The company is under the auspices of China Textile Machinery Group.

Set up in 1954, it produces textile machinery for garment manufacturers in China and abroad.

It plans to reorganise into a joint-stock company with limited liability.

Luoyang Glassworks is one of the three largest glass makers in China. Its products are mainly for industrial use. It ranked the 441st largest Chinese industrial enterprise in 1992 with annual sales of 415 million yuan. The company is one of China's largest float-glass manufacturers, in tandem with Shanghai Yaohua Pilkington Glass and Guangdong Float Glass.

Float-glass can be used as curtain walls, decoration and industrial uses.

Yaohua is listed in Shanghai while Guangdong Float Glass' sister company China Southern Glass is listed in Shenzhen.

Shanghai Hai Xing Shipping Co is one of the dozen companies under the banner of the Shanghai Shipping Group. Its main business is shipping and freight forwarding in the domestic market.

The company underwent restructuring last year, with turnover exceeding two billion yuan in 1993 and overseas shipping accounting for about US$100 million. It has a 60-vessel fleet.