China's listed firms report rising profits for 2013
Updated: 2014-04-30 13:58
(Xinhua)
|
|||||||||||
BEIJING -- China's listed firms saw profits rise in 2013, but a weak start this year has highlighted challenges ahead in sustaining momentum, latest data showed.
As of 10:00 pm. Tuesday, 2,519 listed companies on the Shanghai and Shenzhen stock exchanges had released their annual reports for 2013, which showed a 13.75-percent rise in net profits for a total of 2.26 trillion yuan ($366.9 billion), according to Wednesday's Shanghai Securities News. Annual reports for listed companies are due at the end of April.
The rise was mainly due to a notable profit rebound of over 20 percent in the third quarter of last year, even though growth slowed to 13.2 percent in the fourth quarter.
The electronics, telecommunications and non-banking financial sectors were among the most profitable, with growth of over 50 percent in 2013.
But according to reports on 2014 first-quarter results released so far, profit growth for China's listed companies has narrowed to 10 percent or less, signaling challenges ahead for 2014.
As of Tuesday, around 85 percent of listed companies had reported quarterly results, with profit growth at 8 percent for the first quarter as China's growth slowed to 7.4 percent during the period, marking the lowest quarterly expansion rate since the third quarter of 2012.
|
Related Stories
Legend Holdings plans full listing in 2015 2014-04-21 14:48
Listings in US in doubt despite solid Weibo debut 2014-04-19 07:35
Hongqiao and Pudong Airport make China's Best Airport 2013 list 2014-04-10 09:44
Weibo paves way for wave of US listings 2014-04-02 08:33
PICC backs off Shanghai listing, awaits 'appropriate timing' 2014-04-01 07:26
CSRC urges shift in listings to OTC 2014-03-29 07:34
Today's Top News
Russia's FM scolds West for imposing sanctions
Obama's trip not to achieve goals
Media mogul interested in Clippers
Director enjoys overseas success
Philippine pact gives US access to air, sea bases
Hunt resumes for bodies inside ferry
Ukrainian mayor wounded by gunfire
Alibaba IPO: Could be the biggest ever
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Documents prove the truth can't be buried |
Race to remember story of resistance |
Strait talking: From enemy to friend |
Welcome to the world’s largest garbage dump |
The latest word on books: Keep those pages coming |
Uygurs learn what's in a name |