China's top 50 listed firms for the year 2000 on Shanghai and Shenzhen stock exchanges have lately been singled out by the "Listed Companies", a magazine co-published by Shanghai Stock Exchange and People's Daily Huadong Branch. This is the third sorting by the magazine.
Among the top 50 listed firms for the year 2000, 32 were from Shanghai Stock Exchange and 19 from Shenzhen. Compared with the year 1999, 10 firms of the 50 enlisted new and another 10 kept out of it with the rest retaining their position. By the end of December 31,2000, a total of 1,083 firms got listed on Shanghai and Shenzhen stock market.
Year 2000 witnessed a considerable change in China's stock market, as compared with that in the past few years, in which many state-owned enterprises experienced innovations, development and growth through listing.
Financial situation and business operation of the listed companies took a turn for the better in 2000. Statistics on 2000 annual report for 601 listed companies in Shanghai Stock Exchange indicate that 560 firms made profit, accounting for 93 percent of the total, of which 370 firms underwent business expansion, making up 61.5 percent.
The average combined revenue of the 601 listed companies were 1.058 billion yuan with profit coming up to 208 million yuan and average net profit reached 83.5331 million yuan, an increase of 23.05 percent, 21.19 percent, 19.99 percent over the year 1999, respectively.
According to statistics, in the year 2000, the average revenue of companies listed on Shenzhen was at 956 million yuan with profit hitting 183 million yuan, up 23.49 percent and 15.6 percent respectively over the year 1999.
The selection represents a wide range of industries, including automobile, petrochemical, communication equipment, power and energy, household appliance, metallurgy and others. Many listed firms not only have the ability to compete with their international counterparts, but also able to approach the international standard in internal management system.
(People's Daily 06/06/2001)
