BEIJING – The majority of the listed firms on China’s Shanghai and Shenzhen bourses witnessed robust net profit growth in 2019, Securities Daily reported.
As of April 12, 719 of the 1,006 listed firms that have released their 2019 annual financial reports saw net profit growth year-on-year, according to the paper.
Among them, a total of 153 listed firms saw their net profit growth more than double last year, said the paper.
Their profit growth came amid a solid expansion of the Chinese economy in 2019, when the world’s second-largest economy logged a 6.1-percent year-on-year growth, well within the government’s annual target of 6 to 6.5 percent.
China’s benchmark Shanghai Composite Index jumped 23.71 percent to more than 3,000 points from 2,440 at the beginning of last year. The Shenzhen Component Index and ChiNext Index, China’s NASDAQ-style board of growth enterprises, both gained more than 40 percent.