Listed Firms Post 1st Quarterly Earnings Fall
By Chen Li |
November 1, 2011, Tuesday
|
Print Edition
Print Edition
COMPANIES listed on the Chinese mainland's A-share market posted the first quarterly drop in total profits in nearly three years from July to September, a period when inflation surged to the highest in 37 months, according to their financial reports yesterday.
The 2,304 listed firms that have released their third quarter earnings said they made profits of up to 479.62 billion yuan (US$75.53 billion), according to data compiled by Shanghai Securities News yesterday. Their profits were 510.97 billion yuan in the second quarter and 477.41 billion yuan in the first three months.
The last time their quarterly earnings shrank was in the third quarter of 2008 amid the global financial crisis.
From January to September, the listed firms saw a total revenue of 15.99 trillion yuan, an increase of nearly 25 percent year on year, while net profit jumped by an annual 19 percent to 1.48 trillion yuan.
In the first half of this year, their net profits grew nearly 23 percent from a year ago.
The 2,304 listed firms that have released their third quarter earnings said they made profits of up to 479.62 billion yuan (US$75.53 billion), according to data compiled by Shanghai Securities News yesterday. Their profits were 510.97 billion yuan in the second quarter and 477.41 billion yuan in the first three months.
The last time their quarterly earnings shrank was in the third quarter of 2008 amid the global financial crisis.
From January to September, the listed firms saw a total revenue of 15.99 trillion yuan, an increase of nearly 25 percent year on year, while net profit jumped by an annual 19 percent to 1.48 trillion yuan.
In the first half of this year, their net profits grew nearly 23 percent from a year ago.
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