Source: China State Council Information Office
Some 1,814 companies traded on the Shanghai and Shenzhen stock exchanges released their performance forecasts, with 1,116 companies or about 62 percent predicting profit growth in 2019, according to the China Securities Journal.
The rising gross profit rate and hiking operating revenues, among others, partly contributed to the robust performance of listed companies in 2019, the paper said.
A total of 141 companies saw their net profits attributable to shareholders in 2019 top 1 billion yuan (about 145.2 million U.S. dollars), the paper predicted.
China Life Insurance Co., China’s top alcohol brand Kweichow Moutai Co., Ltd. and top pig and poultry producer Wens Foodstuff Group Co. are among the better performers estimated to see their cap for net profits attributable to shareholders exceed 10 billion yuan, according to the paper.
Companies posting the best net profit growth rate are mostly in the sectors of software and information technology services, retail, chemistry, husbandry, infrastructure building, real estate, and computer, communication and electronic equipment manufacturing.
Thanks to the commercialization of 5G products, firms in the 5G industrial chain began to see their profits firm up and reported stellar performance in 2019, the paper said.