Profits rise in H1

Source:Xinhua Published: 2018/8/28 21:33:41

According to information service provider Wind Info, 68.2 percent of the companies listed on the Shanghai and Shenzhen bourses reported higher first-half net profits.

As of Tuesday morning, among the 2,361 listed companies that had released first-half figures, 1,616 saw gains in net profits and 190 saw declines.

Among the gainers, 383 saw net profits at least double year-on-year.

Operating revenue of the 2,361 listed companies rose 14 percent to 10.24 trillion yuan ($1.5 trillion).

Better performances came from upstream cyclical industries, including oil, steel and building materials.

Companies in sectors including new-energy vehicles, biomedicine and communications reported rising profits as new growth drivers continued to boost China's economy.

Posted in: ECONOMY

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