Given the cyclical recovery and rapid growth of China's emerging industries, roughly 60 percent of Chinese listed companies expect a profit increase in the third quarter.
Of the 941 firms that have publicized their Q3 earnings pre-announcement, 509 said profits would increase and 48 did not expect losses.
After suffering fourth quarter losses last year, profits from listed companies rose 10.36 percent in the first quarter of 2013 and accelerated to 11.98 percent in the second quarter, the fastest quarterly growth since 2012.
Machinery equipment producers, petrochemical companies and non-ferrous metal makers reported profit gains as a steady economic recovery boosted industry demand.
Profits from information service providers and electronic equipment makers also made gains as they benefited from the government's master plan to boost strategically important emerging industries. Moreover, Liquid Electronic Display and integrated circuit makers also forecasted hefty profit increases. |