SHANGHAI: Listed companies achieved high-quality development with overall performance increasing steadily in 2020, People’s Daily reported yesterday.
The main board companies on the Shanghai Stock Exchange recorded an operating income of 38.19 trillion yuan (US$5.91 trillion or RM24.5 trillion) in the past year, with over 90% enterprises making profits.
The companies in Shenzhen Stock Exchange registered an operating income of 14.8 trillion yuan (RM9.5 trillion), up 8.1% year-on-year (y-o-y) last year.
The performances of innovative companies grew rapidly with listed companies on the Science and Technology Innovation Board or the STAR Market making 50.09 billion yuan (RM32.2bil) net profit for parent enterprises, up 59.13% y-o-y.
In the same period, the net profit of listed companies on the second board or ChiNext witnessed an increase of 43% y-o-y, the fastest growth since 2010.
Investment in research and development has increased continuously with entity companies on main board of Shanghai Stock Exchange investing 540 billion yuan (RM347.1bil) in research and development (R&D) in 2020, up 16% y-o-y.
Non-financial enterprises on Shenzhen Stock Exchange invested a total of 444.48 billion yuan (RM285.8bil) in R&D in the past year, up 10.8% on a yearly basis.
The annual reports of the listed companies on stock markets in Shanghai and Shenzhen reflected the overall status of China’s economic development despite Covid-19 and the high-quality development of these companies in 2020. — China Daily/ANN