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Analysts optimistic on China's appeal to foreign investors, improved policies
Analysts on average were expecting total revenue of .7 billion, according to Thomson Reuters I/B/E/S.
Analysts said the move will help the country achieve a more coordinated social, economic and environmental development.
Andrew Wang, chief investment officer of Manulife TEDA Fund Management Co Ltd, said the company is cautiously optimistic toward the Chinese equity market, underpinned by China's resilient economy, solid growth and moderate inflation.
Analysts said the merger will enable the State-owned giant to win more orders and gain more business in overseas cultural markets, adding that merging a relatively bigger SOE with diversified and international business interests with those with smaller assets and overlapping business might be the future direction of SOE restructuring and reform.
