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Nearly 90pc firms on Beijing bourse make profits in Q3

XINHUA – Nearly 90 per cent of the companies listed on the Beijing Stock Exchange made profits in the third quarter of the year, according to data from the Beijing bourse.

The companies reported revenues of CNY120.35 billion (about USD16.76 billion) during the first nine months, up 2.59 per cent year on year. During this nine-month period, half of the listed companies reported year-on-year growth in net profits, and 26 of these companies saw their growth exceed 50 per cent.

The listed companies are expected to achieve better profitability in the last quarter, the bourse said.

The companies increased investment in research and development (R&D) in the first three quarters, with total R&D expenses reaching CNY5.19 billion, an increase of over eight per cent year on year.