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Profits at firms lift investors
By Lydia Chen |
February 16, 2011, Wednesday
|
Print Edition
Print Edition
INVESTORS should feel confident about the future of China's stock markets as most of the 61 listed firms that have so far released their annual earning reports said their profits jumped in 2010.
According to data released on Monday, 50 of the 61 firms saw their accounts in the black last year with a combined profit of 8.81 billion yuan (US$1.34 billion).
Shanghai-listed Fangda Carbon New Material Co was the best performer in the group. The profit of the Beijing-based carbon products maker jumped 10 times last year from that in 2009. Its share price rose 8.04 percent to 16.80 yuan today.
Shenzhen-listed Anhui Huamao Textile Co was second with profit up four times.
Encouraged by the positive performances, 30 of the enterprises said they will offer five shares for every 10 shares held by each investor while 37 companies promised a total of 2.4 billion yuan in cash as a reward for their shareholders.
According to data released on Monday, 50 of the 61 firms saw their accounts in the black last year with a combined profit of 8.81 billion yuan (US$1.34 billion).
Shanghai-listed Fangda Carbon New Material Co was the best performer in the group. The profit of the Beijing-based carbon products maker jumped 10 times last year from that in 2009. Its share price rose 8.04 percent to 16.80 yuan today.
Shenzhen-listed Anhui Huamao Textile Co was second with profit up four times.
Encouraged by the positive performances, 30 of the enterprises said they will offer five shares for every 10 shares held by each investor while 37 companies promised a total of 2.4 billion yuan in cash as a reward for their shareholders.
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