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Revenue, Profit Growth Slows At Mainland-listed Firms
By Lydia Chen |
September 1, 2011, Thursday
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Print Edition
Print Edition
REVENUE and net profit at Chinese mainland-listed firms grew at a slower pace in the first half of this year, according to data compiled by Securities Times.
A total of 2,209 firms listed in the mainland markets have released their half-year earning reports by Tuesday, which showed them making a combined revenue of more than 9.33 trillion yuan (US$1.46 trillion) in the six months, up 26 percent from same period of last year, the newspaper said. Net profit climbed 22 percent annually to 965.4 billion yuan.
In contrast revenue and net profit jumped 45 percent each from January to June last year.
For 2010, revenue and net profit soared more than 30 percent each.
The top 30 net profit earners among these 2,209 firms, including China's big four banks and oil giants such as PetroChina and Sinopec, had a combined net earnings of 652.12 billion yuan, or nearly 68 percent of the overall net profit amount, according to the data.
The earnings reports of companies on the small-and-medium-sized board and the start-up ChiNext board showed the negative effects brought by China's monetary tightening measures. The general market view is that these firms are likely to have higher growth rates than their counterparts on the two main boards in Shanghai and Shenzhen.
A total of 1,284 main board-listed companies said by Tuesday that their net profit rose 24 percent to a total of more than 863.6 billion yuan in the six months, higher than 23 percent rise posted by firms on the Nasdaq-like ChiNext and 18 percent on the SME board.
A total of 2,209 firms listed in the mainland markets have released their half-year earning reports by Tuesday, which showed them making a combined revenue of more than 9.33 trillion yuan (US$1.46 trillion) in the six months, up 26 percent from same period of last year, the newspaper said. Net profit climbed 22 percent annually to 965.4 billion yuan.
In contrast revenue and net profit jumped 45 percent each from January to June last year.
For 2010, revenue and net profit soared more than 30 percent each.
The top 30 net profit earners among these 2,209 firms, including China's big four banks and oil giants such as PetroChina and Sinopec, had a combined net earnings of 652.12 billion yuan, or nearly 68 percent of the overall net profit amount, according to the data.
The earnings reports of companies on the small-and-medium-sized board and the start-up ChiNext board showed the negative effects brought by China's monetary tightening measures. The general market view is that these firms are likely to have higher growth rates than their counterparts on the two main boards in Shanghai and Shenzhen.
A total of 1,284 main board-listed companies said by Tuesday that their net profit rose 24 percent to a total of more than 863.6 billion yuan in the six months, higher than 23 percent rise posted by firms on the Nasdaq-like ChiNext and 18 percent on the SME board.
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