638 listed companies report profit growth of 23.6%
(Xinhua)
Updated: 2006-10-28 13:39
The 638 mainland-listed companies who have released their quarterly reports
for the third quarter reported total net profit of 45 billion yuan (5.6 billion
U.S. dollars) in the first nine months, up 23.6 percent on the same period of
last year.
Of them, 391 reported an increase in net profits.
Some 172 companies saw their profits rise by over 50 percent and 110
companies' profits rocketed by over 100 percent year on year.
The three
most profitable companies were Nanning Sugar Manufacturing Co, Ltd., Xianyang
Pianzhuan Co. Ltd., Huludao Zinc Industry Co. Ltd., who registered year-on-year
profit growth of 142.2 times, 77.2 times and 51.4 times respectively.
Industries such as non-ferrous metals, mechanical equipment, medicine
and real estate saw the best profits.
Many companies are upbeat about
their yearly results.
According to statistics from Wind Info, a leading
financial data and financial software provider on the Chinese mainland, 206
companies have already made annual performance forecasts. 94 predicted higher
profits and 41 expected to move from a loss-making situation to profits.
The most upbeat companies were from the metal and machine manufacturing
industries as well as medicine, biology, wholesale and retail trade, real
estate, and food and beverage.
Twenty foresaw a drop in profits this
year and 45 companies predicted that they would lose money. (For more biz stories, please visit Industry Updates)
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