File photo shows the exterior view of Shanghai Stock Exchange at Pudong New Area in Shanghai, east China. (Xinhua)
BEIJING, July 21 (Xinhua) -- As much as 70.15 percent of the 1,712 A-share companies that have released their half-year forecasts by Tuesday areexpecting optimistic semiannual financial results, reported Xinhua-run Xinhua Finance Wednesday.
The overall gratifying performances of China's A-share firms are largely within market expectations due to the low comparable data from January to June, 2020 when the COVID-19 epidemic hampered to a certain extent business running of A-share market-listed firms, said analysts.
Among the 1,201 A-share firms that predicted joyous semiannual results, companies foreseeing their January-June profit to grow, inch up and stand above zero after return to profitability last year numbered 793, 155 and 11 ones respectively. The remaining 242 A-share firms managed to bid farewell to loss-making in the first half of 2021.
There are still lots of A-share companies that saw their revenues and profits grow notably after deducting influences from the COVID-19 epidemic, with those engaged in industries closely linked with China's economic growth cycle such as chemical and steel sectors showing eye-catching performances thanks to improved industry climate.
By combined profits, A-share firms in industries such as real estate, chemical, transportation, non-ferrous metals, steel, electronics, light manufacturing, building materials and electronic devices expect their semiannual profits to increase more than 100 percent year on year.
More than 60 percent of the A-share firms projecting good January-June financial results are engaged in banking, steel, non-ferrous metals, chemical, light manufacturing, machinery, building materials, transportation, food and beverage, automobile, electronics, mining, electronic devices, home appliance, commerce and trade, pharmacy, architectural ornament, non-banking finance, textile, and communication sectors.
For some big caps, PetroChina Company Limited (601857.SH; 00857.HK) and China Petroleum & Chemical Corporation (600028.SH; 00386. HK) both returned to profitability in the first half of this year and expected their net profits to exceed 10 billion yuan.
Apart from the two oil giants, as many as 135 A-share companies predicted that their net profits from January to June are likely to surpass one billion yuan, with COSCO Shipping Holdings Co., Ltd. (601919.SH), China State Construction Engineering Co., Ltd. (601668.SH), Wanhua Chemical Group Co., Ltd. (600309.SH), BOE Technology Group Co., Ltd. (000725.SZ), CITIC Securities Co., Ltd. (600030.SH), and Muyuan Foods Co., Ltd. (002714.SZ) expecting net profits of over 10 billion yuan at maximum.
Besides, companies that anticipated optimistic semiannual financial results on the main board of Shanghai Stock Exchange (SSE), the main board of Shenzhen Stock Exchange, STAR Market and ChiNext Market accounted for 75.66 percent, 66.1 percent, 65 percent and 77.58 percent of the companies that have released their semiannual financial forecasts on these boards. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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