China's listed companies report overall recovery

15:30, April 30, 2010      

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The financial performance of China's 1,800 publicly-traded companies improved gradually in each quarter of 2009 thanks to the Chinese government's proactive fiscal policy, according to recently released annual reports.

As of April 30, all companies listed in stock exchanges in Shanghai and Shenzhen have released their annual reports for 2009. On the whole, the 1,800 companies have recovered from the global financial crisis. Their total profits increased by over 25 percent from 2008 to 2009, and the average earnings per share (EPS) reached over 0.4 yuan.

Statistics showed that in 2009, the companies recorded total annual revenue of over 12.3 trillion yuan in 2009, equivalent to nearly 37 percent of China's GDP in the same year. Their operating cash flow reached over 2.9 trillion yuan in 2009, up almost 12 percent from 2008. The operating cash flow for non-financial companies increased by nearly 43 percent to over 1.3 trillion yuan from 2008 to 2009.

Of the 1,836 companies, 1,640 made profits and 196 incurred losses. Losses accounted for just less than 11 percent of the total, down 5 percent compared to 2008. Their average EPS reached over 0.4 yuan, up nearly 21 percent from 2008. The average return on net assets reached 13 percent, up over 8 percent from 2008. The average net assets per share reached over 3.3 yuan, up almost 12 percent from 2008. This data shows that China's major listed companies have returned to the 2007 pre-crisis levels of profitability.

Their profits continued to grow in the first quarter of 2010. As of April 29, the revenue of the 1,637 companies that released first-quarter financial reports totaled over 2.8 trillion yuan, up 50 percent from the first quarter of 2009. Their net profits reached over 211.5 billion yuan, up nearly 78 percent and more than 12 percent from the first and fourth quarter of 2009, respectively.

By People's Daily Online


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