Majority of the listed companies in Xinjiang are profitable in H1

Source:Global Times Published: 2019/9/15 22:12:17

Local workers busy working at a shoe-making production line in Hotan, Northwest China's Xinjiang Uyghur Autonomous Region. Photo: Chen Qingqing/GT



More than 80 percent of the A-share market listed companies in Northwest China's Xinjiang Uyghur Autonomous Region made profits in the first half of the year, according to media reports.

The Xinhua News Agency reported on Sunday that 45 out of 55 public companies in Xinjiang realized profits in the first half.

Xinhua reported that total revenue was 223.7 billion yuan ($31.6 billion), up 12.22 percent year-on-year.

The revenue of Xinjiang Tianshun Supply Chain Co, one of the highly profitable companies in the region, reached 633 million yuan in the first six months of 2019, up 85 percent year-on-year, according to the company's financial report.

Public financial companies performed well, with a total net profit of 9.09 billion yuan, accounting for 56.2 percent of the total net profit of Xinjiang's listed companies, according to Xinhua.

According to the statements of CNPC Capital Co, a leading financial company in Xinjiang, its net income attributable to the parent company was 4.08 billion yuan in the first half of the year, up 0.27 percent year-on-year.

Among the 55 listed companies in Xinjiang, there are 26 state-owned enterprises, which achieved revenue of 139.9 billion yuan in the first half of 2019, accounting for 62.5 percent of the total revenue of the listed companies in Xinjiang. This was up 17.73 percent year-on-year, the Securities Daily reported.

The total revenue of the other 29 private companies stood at 83.8 billion yuan, accounting for 37.5 percent of the total revenue and up 4 percent year-on-year.

Posted in: COMPANIES,BIZ FOCUS

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