Annual reports reveal 90 percent of listed Chinese companies reported revenue growth

Nearly 90 percent of listed companies reported revenue growth in 2021 compared with the previous year, and 70 percent reported increased profits in their annual reports, according to financial data provider Wind Data.

Among 1,243 A-share listed companies that have published their annual reports as of Tuesday, a total of 1,085 reported growth in revenue and 889 firms saw their profit increase in 2021, the China Securities Journal reported on Wednesday.

Firms in the automotive, property, semiconductor, new energy, and consumption sectors delivered outstanding performance.

This comes as the new energy industry and the consumer sector continue to be the two main focuses of economic transformation, analysts noted.

Nearly 86 percent of the listed companies are expecting stronger growth in the first quarter, Wind data showed.

Firms in waterborne freight, chemical products manufacturing, non-ferrous metal smelting and rolling processing industry, and pharmaceutical manufacturing are expected to deliver a better performance during the first quarter.

Source: Global Times

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