Firms’ financial performance shows China’s vitality
BEIJING: Companies listed on the socalled A-share market maintained steady growth in the first three quarters of 2022, mirroring China’s economic vitality and potential.
These companies reported combined operating revenues of 52.37 trillion yuan (about $7.35 trillion) from January to September, an 8.51-percent annual increase, data from the China Association for Public Companies showed.
Their combined net income reached 4.75 trillion yuan, up 2.46 percent from a year earlier.
The revenue growth rate of nonfinancial listed companies continued to outpace that of financial listed companies in the first 10 months, which Tian Lihui, a finance professor at Nankai University, said, “demonstrates the strength and the resilience of the real economy.”
During the period, emerging industries — photovoltaics, power batteries and new energy vehicles — recorded a strong performance; and companies in the digital economy reported higher-than-average growth rates in terms of operating revenue, according to the association.
Official data showed that the net income of 169 companies in the green and low-carbon sector on the main board of the Shenzhen Stock Exchange increased by 65.93 percent year on year.
Operating revenues of 13 photovoltaic industry chain companies and 16 power battery industry chain firms rose 106 percent and 93 percent, respectively, on the Shanghai Stock Exchange’s science-and-technology innovation board.
Listed companies increased innovation input to advance high-quality development in the first three quarters.
Their combined research and development (R&D) expenditure reached 940 billion yuan, up 20 percent year on year.
The R&D input of companies listed on the Shanghai stock market’s sci-tech innovation board surged 33 percent from a year earlier. On the Shenzhen main board, 383 companies in advanced manufacturing reported an increase of 20.25 percent in R&D input.
Of the 318 “little giant” companies — small enterprises specializing in niche markets with cutting-edge technologies and great potential — listed on the tech-heavy ChiNext market on the Shenzhen Stock Exchange, 285 companies were profitable in the first three quarters.