Net profits of listed Chinese companies up 64% in 1st 9 months

Except China Shenhua Group<601088><1088>, 1511 companies listed in Shanghai and Shenzhen bourses have all released the third-quarter financial statements, which showed the combined net profits in the first three quarters have risen by 64.18% over the same period last year.

For the period, the accumulated operating income of the listed companies totaled RMB 5.76 trillion, up 24.5%. Weighted average earnings per share was RMB 0.29. ROE was 11.26%, and the net operating cash flow per share was RMB 0.84.

There are 66 listed companies whose net profits surpassed RMB 1 billion. Of those, ICBC<601398><1398> tops the list with a net profit of RMB 63.3 billion. Among the Top 10 winners, seven companies were in the financial and insurance sectors. China Construction Bank<601939><939> posted a net profit of RMB 570 billion for the previous three quarters. Bank of China<601988><3988> earned RMB 50 billion. China Life Insurance <601628><2628>, Bank of Communications<601328><3328>, Ping An Insurance<601318><2318>, and China Merchants Bank<600036><3968> are also on the Top 10 list.

In addition, as of yesterday, 990 listed companies made profits and the profit growth rate of 351 of them surpassed 100%.