BEIJING, April 30 (Xinhua) -- China's listed firms saw profits rise in 2013, but a weak start this year has highlighted challenges ahead in sustaining momentum, latest data showed.
As of 10:00 p.m. Tuesday, 2,519 listed companies on the Shanghai and Shenzhen stock exchanges had released their annual reports for 2013, which showed a 13.75-percent rise in net profits for a total of 2.26 trillion yuan (366.9 billion U.S. dollars), according to Wednesday's Shanghai Securities News. Annual reports for listed companies are due at the end of April.
The rise was mainly due to a notable profit rebound of over 20 percent in the third quarter of last year, even though growth slowed to 13.2 percent in the fourth quarter.
The electronics, telecommunications and non-banking financial sectors were among the most profitable, with growth of over 50 percent in 2013.
But according to reports on 2014 first-quarter results released so far, profit growth for China's listed companies has narrowed to 10 percent or less, signaling challenges ahead for 2014.
As of Tuesday, around 85 percent of listed companies had reported quarterly results, with profit growth at 8 percent for the first quarter as China's growth slowed to 7.4 percent during the period, marking the lowest quarterly expansion rate since the third quarter of 2012.
China's listed firms make optimistic Q1 forecast
BEIJING, April 9 (Xinhua) -- Of China's listed firms, 391 expect their performance to improve in the first quarter of this year, representing over half of companies that have released preliminary reports, the China China reported Wednesday.
Of the companies, 312 forecast their profits to increase, 40 said profits will increase for two straight years, and 39 expect they will stop losses, data from Wind Info showed. Full story
China's listed firms bullish on 2013 results
BEIJING, Feb. 7 (Xinhua) -- A majority of listed firms that have released preliminary reports expect to perform better in 2013, the Shanghai Securities News reported Friday.
Among the 1,734 companies to release forecasts for last year, 1,000 expect better results: 821 anticipate rising profits and 179 reversals of previous losses. Full story