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, June 6 -- Nearly seven in 10 Chinese-listed companies on China's NASDAQ-style board are poised to register hefty profits for the first half of this year, casting light on momentum in emerging sectors and the solid economic fundamentals of the country.
As of Monday, nearly 69 percent of 64 Chinese publicly traded companies listed on the ChiNext had forecast profit growth or projected that losses would be transferred to gains in the January-June period, according to data from Choice, a leading financial data provider.
The profitability of listed companies offers insight into broader economic performance, analysts said.
Breakdown figures revealed that only 12 companies
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, or 18.8 percent of the total, are set to witness profit decreases or go into debt for the first six months, and the remainder have not made profit projections.
Five listed companies, including Zhejiang Jingsheng Mechanical and Electrical, predicted having the potential to at least nearly double their net profits in the first six months.
Zhejiang Jingsheng Mechanical and Electrical, a giant in the photovoltaic industry
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, forecast its net profit to surge between 70 percent and 100 percent year on year in the first six months, due to rising outlays on research and development.
Smart manufacturing now features on the company's production lines, reducing operational costs and improving work efficiency. Moreover, strengthened efforts on new product design and upgrading in tandem with stock option incentive plans sharpened technological competitiveness.
The company is testimony to Chinese businesses' ascent on the global value chain and the nation's economic restructuring.