Friday's Asia ADR Recap: PetroChina

The Shanghai Composite Index fell 21.98 points, or 0.7%, to 3,329.67, and Hong Kong's Hang Seng Index rose 146.89 points, or 0.6%, to 24,402.18. Here's a look at how some China-based American depositary shares traded in the U.S. on Friday.

Shares of China's top operator of electronic advertising displays, Focus Media(FMCN Quote), fell 15% after the company said it lost money in the first quarter and cut its full-year forecast due to the earthquake that struck Sichuan. For the first quarter, the company said its net loss was $53.8 million, or 42 cents per American depositary share, vs. a net profit of $16.3 million, or 13 cents per share, from a year earlier. Revenues for the first quarter soared 215% to $161.6 million, vs. $51.3 million from a year ago, and total digital out-of-home advertising revenue surged 113.4% to $108.7 million, vs. $51 million a year ago.

Looking forward, the company said second-quarter revenues will come in in the range of $190 million to $195 million, vs. Wall Street estimates of $201.90 million, and full-year revenue will come in from $820 million to $850 million, vs. estimates of $822.23 million. American depositary shares of Focus Media, which trade on the Nasdaq, plunged $5.70 to $31.09 on seven times the average daily volume.

Trina Solar(TSL Quote), a Chinese alternative energy company, announced that its first-quarter net revenue soared 183.6%, well ahead of Wall Street estimates, but cautioned the Street that rising prices for silicon could lower the company's profit margins in the current quarter. The company said first-quarter net revenue was $120.7 million, vs. Wall Street estimates of $117.2 million, and first-quarter net income was $12.9 million, vs. estimates of $4.8 million from a year earlier. Trina said the costs for silicon could jump 5% to 10% in the current quarter, which could pressure margins until silicon production capacity ramps up later this year.