Nearly 90 pct of firms listed on Beijing bourse make profits in Q3

BEIJING -- Nearly 90 percent of the companies listed on the Beijing Stock Exchange made profits in the third quarter of the year, according to data from the Beijing bourse.

The companies reported revenues of 120.35 billion yuan (about $16.76 billion) during the first nine months, up 2.59 percent year on year.

During this nine-month period, half of the listed companies reported year-on-year growth in net profits, and 26 of these companies saw their growth exceed 50 percent.

The listed companies are expected to achieve better profitability in the last quarter, the bourse said.

The companies increased investment in research and development (R&D) in the first three quarters, with total R&D expenses reaching 5.19 billion yuan, an increase of over 8 percent year on year, the bourse said.