Shenzhen-listed firms release solid Q3 profit forecast

BEIJING -- Some 147 companies listed on the Shenzhen Stock Exchange had disclosed third-quarter business forecasts as of Sunday, and over 80 percent predict a year-on-year growth in net profits from January to September, the bourse said Monday.

Of the 147 companies, a total of 139 companies are expected to achieve profitability in the first three quarters, accounting for nearly 95 percent.

Meanwhile, nearly 70 percent of the companies said their profits are expected to exceed 100 million yuan ($13.93 million) during the nine-month period.

Innovation, demand growth, and cost reduction were among the main reasons cited by the companies for their performance growth, the bourse said.