Listed firms on STAR board report striking profit growth

0 Comment(s)Print E-mail Xinhua, May 15, 2022
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A man views a video introducing the listed companies at the Shanghai Stock Exchange in Shanghai, east China, July 22, 2019.

Companies listed on China's Nasdaq-style sci-tech innovation board, known as the STAR Market, reported staggering profit growth for 2021 and the first quarter of the year.

Despite multiple challenges, the companies saw their combined net profits soar 75.89% year on year in 2021, and surge 62.42% in the first three months.

Combined revenues jumped 36.86% from a year ago in 2021, and climbed 45.6% in the first quarter.

Listed companies in biomedicine, new chemical materials and new energy sectors performed more strongly than others in the first quarter, said Wang Jun, an analyst with the BOC International (China) Co., Ltd.

China launched the STAR Market on July 22, 2019, kicking off a trailblazing leg of the country's innovation drive and capital market reform.

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