Related News
Huge surge in profit at listed firms in China
Source: Xinhua |
May 5, 2009, Tuesday
|
Print Edition
Print Edition
THE combined net profit of all the 1,624 listed companies on the Chinese mainland hit 203.8 billion yuan (US$30 billion) in the first quarter, a whopping 450.39-percent surge from the last quarter last year, reports from the country's two main exchanges showed yesterday.
The total net profit in the first quarter fell 25.81 percent year on year.
Of the companies, 1,186 of them reported gains, taking up 73.03 percent of the total. The number of companies suffering losses rose by nearly 200 from the same period last year to 436.
"The quarter-on-quarter profit surge showed production began to stabilize in the first three months after being hit hard by the global financial crisis in the fourth quarter last year," said Qin Xiaobin, chief analyst with Beijing-based Galaxy Securities.
Measures issued by the government to support key industries also helped the profit to rise, experts said.
Companies are still troubled with overcapacity that led to the annual decline and it is still too early to tell if the economy has bottomed out, Qin said.
The total net profit in the first quarter fell 25.81 percent year on year.
Of the companies, 1,186 of them reported gains, taking up 73.03 percent of the total. The number of companies suffering losses rose by nearly 200 from the same period last year to 436.
"The quarter-on-quarter profit surge showed production began to stabilize in the first three months after being hit hard by the global financial crisis in the fourth quarter last year," said Qin Xiaobin, chief analyst with Beijing-based Galaxy Securities.
Measures issued by the government to support key industries also helped the profit to rise, experts said.
Companies are still troubled with overcapacity that led to the annual decline and it is still too early to tell if the economy has bottomed out, Qin said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
