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China’s listed companies have posted average earnings per share at 0.21 yuan (US$0.012) for the first three quarters of this year, up 43.35 percent from the same period last year when average earnings per share were 0.20 yuan for the whole year.
By the end of October, 1,376 out of the total 1,378 companies listed in the Shanghai and Shenzhen stock exchanges had published their fiscal reports for the first three quarters, recording an average turnover of 1.77 billion yuan and average net profit of 110 million yuan, up 30.77 and 41.37 percent year on year.
Only two listed companies failed to meet the deadline for fiscal reports. They are Xi’an Diamond Co. Ltd. and Wholewise Science and Technology Co. Ltd., which announced Monday they would probably be delisted due to continued losses.
The oil, coal, electricity and transport sectors have enjoyed strong growth due to fast-growing demand in the country, and the trade and service sectors have recovered from last year’s slump caused by SARS.
Meanwhile, steel making and cement have performed well despite government curbs on these overheated sectors, partially because of surging product prices in the global market.
China International Marine Containers (Group) Ltd. (CIMC) led listed companies in earnings per share with 1.767 yuan, followed by Kweichow Moutai Co. Ltd. with 1.31 yuan, Sinopec Yangzi Petrochemical Co. Ltd. with 1.28 yuan and Sany Heavy Industry Co. Ltd. with 1.151 yuan.
Although the small and medium-sized enterprises (SME) board was launched only about four months ago, the 38 companies listed there have outperformed most main board-listed firms.
Suning Appliance Chain Store (Group) Co. Ltd. tops the SME list of earnings per share with 1.09 yuan, followed by Shanghai Siyuan Electronic Co. Ltd. with 0.54 yuan and Shanghai Kehua Bio-engineering Co. Ltd. with 0.48 yuan.
(Shenzhen Daily November 2, 2004)
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