By Xinhua
Beijing : The total net profits of 387 firms listed on China’s Shanghai and Shenzhen bourses surged to $8.14 billion in the first nine months, 80 percent up from the same period last year.
The turnover of the 387 companies in the past three quarters also rose 24 percent to $93.1 billion, according to their third quarterly reports.
Of the 387 companies, the top 30 in terms of net profits contributed $5.13 billion, or 62 percent of the total.
Of the top 30, five belong to the finance and insurance industry, ten to the refining and processing industry, and five to the mining industry.
Because of the sizzling stock market, securities dealers have reported major growth. Haitong Securities Company Limited has reported $547.4 million (4.1 billion yuan) net profit in the first nine months, and Northeast Securities Co., Ltd. made more than $133.5 million (one billion yuan).
About 121 companies said they would report annual profits similar to or lower than last year, and 100 have estimated year-on-year gains in net profits, while 20 said they would report losses. The others made no estimates in their reports.