Majority of listed firms report profit growth in 2019
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E-mail Xinhua, March 26, 2020
BEIJING, March 26 (Xinhua) -- The majority of the listed firms on China's Shanghai and Shenzhen bourses witnessed net profit growth in 2019, Securities Daily reported.
As of March 24, 188 of the 272 listed firms that have released their 2019 annual financial reports saw net profit growth year on year, according to the paper.
Among them, a total of 85 listed firms, mainly in the sectors of high-tech, education and telecommunication, have reported net profit growth for three consecutive years, said the paper.
Their profit growth came amid a solid expansion of the Chinese economy in 2019, when the world's second-largest economy logged a 6.1-percent year-on-year growth, well within the government's annual target of 6 to 6.5 percent.
Analysts forecast that China's A-share market is likely to rebound this year as economic activities gradually resume and market confidence returns. Enditem
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