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Company profits show recovery despite earlier drop

PROFIT among companies listed on the Chinese mainland dropped 14.79 percent from a year earlier, but their second-quarter profit showed signs of recovery thanks to the government's massive stimulus policies.

A total of 1,637 listed companies, except Shenzhen Benelux Enterprise Co Ltd which missed the deadline to publish its report, earned 481 billion yuan (US$70.4 million) in the first half of this year, and their revenue declined 11.75 percent to 5.09 trillion yuan.

However, their second-quarter profit gained 36.1 percent from the first quarter and nearly half of these companies expected further improvement in the third quarter.

Among them, 867 Shanghai-listed companies earned 436.9 billion yuan in the first half, declining 9.12 percent from a year earlier, but they made 252.5 billion yuan in the second quarter, rising 5.43 percent from a year earlier and 36.96 percent on a quarterly basis.

"The implement of the central government's 4-trillion-yuan stimulus package stopped most listed companies from declines," the Shanghai bourse said on its Website today.


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