Shenzhen startups lose their shine
By Louise Ho |
February 4, 2012, Saturday
|
Print Edition
Print Edition
LISTED startup companies in China are losing their luster after their combined annual profit growth in 2011 almost halved, disappointing investors who bet on the sustained growth of these companies' high profits.
In a preliminary performance statement, the 285 companies listed on ChiNext, China's Nasdaq-style board in Shenzhen, estimated that profit growth would fall to 17.7 percent in 2011 from 31.2 percent in 2010.
ChiNext was launched in October 2009 to help new, innovative enterprises fundraise, but investors have realized that the growth potential of these companies was not as high as they had hoped.
ChiNext's performance was worse than that of the main boards on the Chinese mainland in January. Its benchmark dropped 11.08 percent in January while the key indexes tracking the main boards in Shanghai and Shenzhen surged 4 percent.
ChiNext companies are smaller so are more prone to the economic slowdown, analysts said.
In a preliminary performance statement, the 285 companies listed on ChiNext, China's Nasdaq-style board in Shenzhen, estimated that profit growth would fall to 17.7 percent in 2011 from 31.2 percent in 2010.
ChiNext was launched in October 2009 to help new, innovative enterprises fundraise, but investors have realized that the growth potential of these companies was not as high as they had hoped.
ChiNext's performance was worse than that of the main boards on the Chinese mainland in January. Its benchmark dropped 11.08 percent in January while the key indexes tracking the main boards in Shanghai and Shenzhen surged 4 percent.
ChiNext companies are smaller so are more prone to the economic slowdown, analysts said.
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