(ATF) Dozens of China’s A-share listed firms have hinted that they performed startlingly well in 2020, suggesting the nation’s economy is already rebounding from the global pandemic.
The performance of A-share listed companies can be seen as a "barometer" of the Chinese economy – and as of January 8, a total of 743 listed companies in the Shanghai and Shenzhen stock exchanges had issued performance forecasts for 2020 as "pre-disclosure" entered its peak period.
In 2020, which was not an easy year, the overall performance of A-share listed companies is now gradually being revealed, with some good and some bad results, CCTV Finance reports.
Among these 743 companies listed, 346 have made pre-disclosure announcements, accounting for 46.57%. There are 144 companies that expect a year-on-year increase in net profit in 2020 to be no less than 100%, of which 40 companies are expected to see net profit increase by more than 200% year-on-year.
In terms of different industries, the pharmaceutical, new energy vehicles, agriculture, forestry, animal husbandry and fishery sectors saw significant growth in 2020, becoming the main force in the growth of A-share performance.
Gao Ruidong, Chief Macro Economist at Everbright Securities, said that since 2020, despite the impact of the epidemic, thanks to China's epidemic prevention and control capabilities, the rapid economic recovery and the continuous advancement of capital market reforms have given investors confidence in China's economy and market.
'TURNING AROUND LOSS'
It can also be seen from the performance forecasts that "turning around loss" has become the key phrase for 2020 performance.
Tian Lihui, Dean of the Financial Development Research Institute at Nankai University, said in 2020, especially in the first quarter, corporate revenue pressure was greater, but the third quarter performance will show improvements.
And data released by the China Securities Regulatory Commission showed that the total revenue of listed companies in the first three quarters of 2020 reached 37 trillion yuan, a year-on-year increase of 0.67%.