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October 20, 2017

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Profit rises for 80% of 75 listed firms

NEARLY 80 percent of the 75 listed companies which have released their financial reports saw their net profit grow in the first three quarters of the year, according to industry data.

Their reports showed that 76 percent of the companies enjoyed increases in net profit in the first nine months from the same period a year ago, according to data from Eastmoney.

Of the 75 listed entities, four companies — Xinjiang Tianshan Cement Co Ltd, Lingyuan Iron & Steel Co Ltd, Chengzhi Co Ltd and Hubei Sanxia New Building Materials Co — saw their net profit soar over 1,000 percent in January to September. Another 20 companies enjoyed a jump of over 100 percent in net earnings in the nine-month period.

Total revenue for 84 percent of the 75 firms rose from January to September, compared with the same period of 2016.

Manufacturers including those in concrete, plastic, printing, LED and chemicals all lifted their revenue as they gained from government’s policies.


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