Most listed companies report strong profits
August 29, 2017 Category China News Round-up, Weekly
As of August 14, 1,004 Chinese listed companies had disclosed their first-half reports with total net profit up 21.2% year-on-year to CNY297.1 billion. About 74% of the companies registered year-on-year net profit growth in the first half of the year. A total of 223 companies witnessed a year-on-year profit surge of over 100% in the first half, and 233 companies reported year-on-year profit growth of between 30% and 100%.
China’s manufacturing sector in June stayed above the boom-bust mark for the 11th consecutive month, with traditional sectors like oil refining and metal smelting witness- ing robust growth, suggesting improved supply-demand structure, according to the National Bureau of Statistics (NBS). The tech-heavy small and medium-sized enterprises board witnessed net profit growth in the first six months, with new energy vehicle-related shares doing particularly well. Anhui Zotye Automobile saw net profit soar 494% year-on-year in the first half due to government efforts to boost green energy.
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