A total of 928 companies listed in the Shanghai and Shenzhen stock exchanges had disclosed their 2012 performance forecasts by Sunday, with 49 percent expecting increases in net profit, the Securities Daily reported on Monday.

Forty-two percent of the companies expect losses, while others did not clarify.

Sixty-three companies expect profits to increase by over 100 percent, while 54 expected profits to fall by over 100 percent.

Sinosteel Jinlin Carbon Co estimated a loss of 150 million yuan ($23.8 million). The steel industry remains lackluster due to the economic slowdown, leading to a decline in product sales and prices. The rising cost of fuel was also one of the reasons behind the losses, the company said.