Early returns show firms had profitable 2018

Source: Xinhua | 2019-02-13

about 154 listed companies have announced their preliminary results for last year as of yesterday — with over 98 percent of them reporting profits, according to statistics from online financial information service provider ChinaDataPay.com.

Fifteen listed companies reported net profits of over 10 billion yuan (US$1.47 billion). China Merchants Bank announced the highest net profit of 80.56 billion yuan, an increase of 14.84 percent year on year.

The property sector was also highly profitable, with Poly Real Estate Group and Greenland Holding Group raking in profits of 18.8 billion yuan and 11.66 billion yuan, respectively.

SDIC Xinji Energy Co reported the biggest increase in profit — 1,037.67 percent — leading to net profit of 252 million yuan.

Sinopec Group, the country’s biggest oil refiner, topped the revenue table with 2.88 trillion yuan.

Data showed that 106 out of the 154 companies reported growth both in revenues and net profits, with 25 announcing robust growth of more than 20 percent.

Hundreds of listed companies are expected to announce their preliminary estimates by the end of February.