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Chinese SMEs perform better in 2010
By Lydia Chen |
March 1, 2011, Tuesday
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Online Edition
Online Edition
STOCKS on China's small and medium-sized enterprises board enjoyed a faster profit growth last year, eclipsing counterparts on ChiNext, a Nasdaq-style start-up board.
The 552 companies on the SME board earned a combined net profit of 79.75 billion yuan (US$12.14 billion) last year, a rise of 32.48 percent from a year ago. Total income jumped 33.47 percent year-on-year to 889.89 billion yuan.
Although 12 SME companies said they suffered losses last year, 69 firms reported their profits more than doubled in 2010, led by Shenzhen-based Han's Laser Technology Co whose earnings skyrocketed 122 times from 2009, data showed.
Heavyweights such as Suning Appliance Co, Bank of Ningbo, Xinjiang Goldwind Science & Technology Co and Jiangsu Yanghe Brewery Joint-Stock Co were big profit contributors to the SME board, adding 10.83 billion yuan or 13.6 percent of the total.
Suning Applicance, one of the largest home appliance retailers, said its net profits hiked 37.59 percent from 2009 while income rose 29.51 percent to 75.51 billion yuan.
For firms on ChiNext, home for high-growth start-ups, last year was obviously tougher than before.
Despite the fact that all the 183 companies managed to keep accounts in balance, profit growth fell to 31.54 percent from 45 percent in 2009.
The start-ups created a total net profit of 13.04 billion yuan in 2010 while income stood at 76.21 billion yuan.
The 552 companies on the SME board earned a combined net profit of 79.75 billion yuan (US$12.14 billion) last year, a rise of 32.48 percent from a year ago. Total income jumped 33.47 percent year-on-year to 889.89 billion yuan.
Although 12 SME companies said they suffered losses last year, 69 firms reported their profits more than doubled in 2010, led by Shenzhen-based Han's Laser Technology Co whose earnings skyrocketed 122 times from 2009, data showed.
Heavyweights such as Suning Appliance Co, Bank of Ningbo, Xinjiang Goldwind Science & Technology Co and Jiangsu Yanghe Brewery Joint-Stock Co were big profit contributors to the SME board, adding 10.83 billion yuan or 13.6 percent of the total.
Suning Applicance, one of the largest home appliance retailers, said its net profits hiked 37.59 percent from 2009 while income rose 29.51 percent to 75.51 billion yuan.
For firms on ChiNext, home for high-growth start-ups, last year was obviously tougher than before.
Despite the fact that all the 183 companies managed to keep accounts in balance, profit growth fell to 31.54 percent from 45 percent in 2009.
The start-ups created a total net profit of 13.04 billion yuan in 2010 while income stood at 76.21 billion yuan.
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