Of the 5,432 A-share companies, 60 per cent saw their profit rise in the first half, while 75 per cent made a profit, data shows
Mainland Chinese companies listed onshore recorded a total net profit of 3 trillion yuan (US$420 billion) in the first half of the year, an increase of 2.5 per cent from a year earlier, the China Association for Public Companies said in a report on Tuesday.
Nearly 60 per cent of the 5,432 listed companies registered revenue growth, while more than three quarters made a profit, reflecting a more optimised business structure, a sharper focus on technology and innovation and increasing shareholder returns for the first six months of the year, according to the association.
The overall revenue of non-financial companies came in at 30.42 trillion yuan, about the same level as last year. Their net profit reached 1.59 trillion yuan, an increase of 0.9 per cent from a year ago.
“The overall figures sum up the relatively stable performance of the A-share market in the first half,” said Kenny Ng Lai-yin, a strategist at Everbright Securities International. “Of course, the pace of profit growth was not particularly pronounced, reflecting the fluctuations seen in the economy in recent years.”
