Explosion-proof light rail trains being manufactured in CRRC Changchun Railway Vehicles Co., Ltd. in Changchun, capital of northeast China's Jilin Province, July 25, 2019. (Xinhua/Wang Haofei)
Despite the complex economic environment and the downward pressure, enterprises with core technology and innovation capacity still showed competitiveness in the market.
BEIJING, Oct. 31 (Xinhua) -- A total of 3,700 Chinese listed firms have posted their financial performance reports for the first three quarters this year, with the high-end manufacturing sector taking the lead in profit-making in the A-share market, the Shanghai Securities reported Thursday.
Nearly 90 percent of the companies made a profit in the period. Nearly 30 percent of them reported a profit growth of more than 30 percent. About 12 percent of them, or 446 companies, saw their profit double year on year, said the report.
The total revenue of those listed companies in the period stood at 35.64 trillion yuan, increasing 8.58 percent from the previous year.
In the third quarter alone, about 2,050 companies reported net profit growth, and the growth rate of 589 companies exceeded 100 percent.
Despite the complex economic environment and the downward pressure, enterprises with core technology and innovation capacity still showed competitiveness in the market.
A staff member demonstrates 5G-based remote control of a robot during the 2019 World Artificial Intelligence Conference (WAIC) in east China's Shanghai, Aug. 29, 2019. (Xinhua/Fang Zhe)
Guide Infrared Group, a bellwether in the infrared field, reported a revenue of 1.06 billion yuan (about 150 million U.S. dollars) in the period, up 107.76 percent, while its net profit rose 142.29 percent to 235 million yuan.
The net profit of AMEC Group, a high-end semi-conductor firm, surged 399 percent to 135 million yuan, while that of Maxscend Microelectronics Co., Ltd, a radio frequency chip producer, reached 323 million yuan, increasing 135 percent.
The robust performance of companies in the high-end manufacturing sector was closely related to high-quality development, and would boost China's economy, analysts said.
In the first nine months, 40 companies on the sci-tech innovation board reported total revenue of 69.12 billion yuan, up 14 percent, while the net profit rose 40 percent to 8.58 billion yuan, according to a report by the China Securities Journal.
Companies related to high-end manufacturing, such as integrated circuits, biological medicine, rail transportation and new energy were the main driver of the board's robust growth, said the report. ■
