Not happy season for listed firms
By Louise Ho |
May 15, 2012, Tuesday
|
Print Edition
Print Edition
NEARLY half of the Chinese mainland-listed companies which have unveiled earnings estimates said they expected profit to drop or to incur a loss in the first half of this year, according to financial data provider Wind Info Co.
Of the 845 public companies, 342 firms projected net profit to fall while 15 companies predicted a loss, according to Wind.
Of the 23 listed property companies, 16 expected profit to be lower or to suffer losses in the first half, Wind said.
China Calxon Group, a Hangzhou-based property company, said it expected losses of 350 million yuan (US$55.4 million) in the first six months against a 7.2 million yuan profit in the same period of last year.
The developer said the lukewarm real estate market hurt the price and sales of its development projects.
Of the 845 public companies, 342 firms projected net profit to fall while 15 companies predicted a loss, according to Wind.
Of the 23 listed property companies, 16 expected profit to be lower or to suffer losses in the first half, Wind said.
China Calxon Group, a Hangzhou-based property company, said it expected losses of 350 million yuan (US$55.4 million) in the first six months against a 7.2 million yuan profit in the same period of last year.
The developer said the lukewarm real estate market hurt the price and sales of its development projects.
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