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Tuesday, February 12, 2019, 15:01
Over 150 listed companies report profit for 2018
By Xinhua
Tuesday, February 12, 2019, 15:01 By Xinhua

This undated photo shows a pedestrian walking past the Shanghai Stock Exchange. (PHOTO PROVIDED TO CHINA DAILY)

BEIJING Some 154 listed companies have announced their preliminary estimates of last year as of Tuesday. Over 98 percent of them reported profits, according to statistics from ChinaDataPay.com, an online service provider of financial information.

Fifteen listed companies reported net profits of over 10 billion yuan (about 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.

ALSO READ: China's listed companies upbeat about 2018 performance

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.

In terms of profit growth, SDIC Xinji Energy Co. reported the biggest increase of 1,037.67 percent, leading to net profits of 252 million yuan last year.

With regard to revenues, Sinopec Group, the country's biggest oil refiner, reported 2.88 trillion yuan for last year, the highest among all the 154 companies.

READ MORE: Report: 75% of China's listed companies from private sector

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. Some 1,460 companies were listed on the Shanghai Stock Exchange, while 2,179 were listed on the Shenzhen Stock Exchange.

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