The benchmark Shanghai Composite Index went up 0.26 percent to close the day at 2,772.2 points, and the Shenzhen Component Index closed 0.45 percent lower at 10,109.91 points.
Combined turnover on the two bourses came in at 633.9 billion yuan (about 90 billion U.S. dollars).
Official data showed Friday that profits of industrial companies with annual revenue of more than 20 million yuan totaled 410.7 billion yuan in the January-February period, down 38.3 percent year on year.
Shares related with water conservation rose on news that construction work had been resumed on 142 of the country's 172 national water projects, with total investment exceeding 1 trillion yuan.
Stocks of Qianjiang Water Resources Development Co., Ltd. and Xinjiang Guotong Pipeline Co., Ltd. both surged by the daily limit of 10 percent to end the day at 9.61 yuan and 13.48 yuan, respectively.
The ChiNext Index, China's NASDAQ-style board of growth enterprises, lost 1.21 percent to close at 1,903.88 points Friday.
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