Net profit grows for nearly 80% of 75 listed firms in first three quarters

Nearly 80 percent of the 75 listed companies which have released their financial reports saw their net profit grow in the first three quarters of the year, according to industry data.

Their reports showed that 76 percent of the companies enjoyed increases in net profit in the first nine months from the same period a year ago, according to data from Eastmoney.

Of the 75 listed entities, four companies — Xinjiang Tianshan Cement Co Ltd, Lingyuan Iron & Steel Co Ltd, Chengzhi Co Ltd and Hubei Sanxia New Building Materials Co — saw their net profit soar over 1,000 percent in January to September. Another 20 companies enjoyed a jump of over 100 percent in net earnings in the nine-month period.

Total revenue for 84 percent of the 75 companies increased from January to September, compared with the same period of 2016.

By sectors, manufacturing companies including those in sub-industries such as concrete, plastic, printing, LED and chemicals all increased their revenue as they benefitted from the government's policies on supply-side reform and cutting excess capacity.