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879 listed companies see H1 profits down 18%

China Securities Journal reported today that 879 listed companies on the Shanghai and Shenzhen stock exchanges had posted their first-half results as of Thursday, reporting 114.3 billion yuan ($16.73 billion) in combined profits, down 18 percent from the 140.6 billion yuan recorded a year earlier.

In the first half of 2009, revenues of the 879 companies reached about 1.54 trillion yuan, compared with 1.64 trillion yuan in the same period last year.

Steelmakers and non-ferrous companies' first-half profits fell most among listed companies, with Angang Steel Company Ltd reporting a loss of 1.563 billion yuan. Jigang Group, Laigang Group, Yunan Copper Co Ltd posted 100 million yuan in losses each.

In contrast, companies engaged in finance, coal and liquor sectors recorded better performances as Bank of Communications topped the earnings list with first-half profit of 15.5 billion yuan.

China has 1,678 listed companies and they must release their first-half reports by August 31, according to Securities Association of China.


 Source : Xinhua  Editor: Ivy
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