Shenzhen Super Jiucheng Company Announces Annual Results 50%

As of January 31, 2019, a total of 1,954 companies in Shenzhen City disclosed 2018 annual performance forecasts or performance reports, accounting for 91% of all companies in Shenzhen.

Overall, the overall performance of listed companies in Shenzhen market continued to maintain a steady and positive development trend, and most companies are expected to achieve profitability and growth. Among 1,954 companies, 1,678 performance pre-earning companies, accounting for 86%; performance pre-increased company 1,000, accounting for 51%.

More than one-third of companies are expected to achieve higher-speed growth, and small and medium-sized companies become the mainstay of high-growth companies. 645 companies expect net profit in 2018 to increase by more than 20% year-on-year, accounting for 33% of the company's disclosed results, including 504 small and medium-sized companies, accounting for 78%.

Shenzhen Blue Chip Enterprises continued to grow steadily. Among the SZSE 100 index companies that disclosed the performance forecast, 19 main board companies expect an average net profit of 6.04 billion yuan to 6.397 billion yuan, an increase of 2.72% to 8.74%; 60 small and medium-sized companies expect an average net profit of 2,194 million in 2018. Yuan reached 2.549 billion yuan, a year-on-year increase of 3.64% to 20.36%.

The supply-side structural reform continued to deepen and the vitality of the traditional industry recovered. 15 industries, including mining, wholesale and retail, transportation, and real estate, are expected to achieve overall profitability. Among them, over 50% of manufacturing companies achieved a turnaround or net profit growth, and the expected performance of chemical manufacturing, agricultural and sideline food processing, ferrous metal smelting, non-metallic mineral manufacturing and other sub-sectors increased by more than 50%.

Affected by the macroeconomic downturn, the number and loss scale of loss-making companies increased compared with last year, and 68 companies expected losses of more than 1 billion yuan. In addition to the impact of the decline in the main business, the provision for large amount of goodwill impairment, bad debt provision and other asset impairments became the main reason for losses.

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