Chinese listed firms see robust profit growth in 2019

Chinese listed enterprises reported improving performance last year, according to the financial information provider Wind.

Latest Wind data showed that as of Feb 23, 211 listed companies on the Shanghai and Shenzhen bourses had released their 2019 preliminary earning results, and 169 firms, or 80.09 percent of the total, reported an increase in net profits.

Annual revenue of the listed firms in 2019 averaged 16.97 billion yuan (about $2.42 billion), expanding 15.24 percent from 14.73 billion yuan registered in the same period of the previous year.

The average net profits attributable to shareholders of the 211 firms rose 14.68 percent year on year to 2.93 billion yuan, with 69 companies' growth exceeding 30 percent and 12 firms reporting doubled net profits year-on-year.

Meanwhile, 11 firms saw their net profits surpass 10 billion yuan, of which eight were listed banks, Wind data showed.