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74% of 414 listed Chinese companies profit up in Q2

(Xinhua)
Updated: 2009-08-13 08:54

More than 74 percent of 414 listed Chinese companies reported increased net profits in the second quarter over the previous one, figures released Tuesday by China Securities Journal Information Data Center showed.

The 414 companies are those that had publicized their half-year performances as of Tuesday. They account for more than a quarter of all stocks listed on Chinese bourses.

The companies mainly involve sectors of machinery, chemical industry, electronics, medicine and real estate.

Special Coverage: China Biz & Economic Statistics Related readings:  Chinese listed companies net profit up 450% in Q1  Top 100 listed companies see profits down 12% in 2008  Listed companies to hand out huge bonus  Chinese listed companies' net profit down 17% in 2008

The business income of the companies was up 21.51 percent in the second quarter from the previous one, while their net profit was up 76.02 percent quarter on quarter.

However, compared with a year earlier, the companies' total business income in the first half year dropped 8.53 percent to 575.62 billion yuan ($84.28 billion), while the net profit stood at 41.96 billion yuan, down 23.41 percent year on year.

The Chinese economy was showing signs of recovery with its industrial output rising 10.8 percent in July from a year earlier, after gaining 10.7 percent in June, the National Bureau of Statistics said Tuesday.