Shenzhen companies lock in profits

Shenzhen has 2,179 companies that disclosed semiannual reports for the half year up to August 31. And thanks to the beavers at the city’s statistical data office, we now know that 80% of them are in the black, and half are growing positively YoY.

Their combined revenues came to RMB5.953 trillion, which is up 9.36% in the first half, generating net profits of RMB407.961 billion, down 0.87%. 1892 companies, accounting for 87%, were profitable; the net profits of 1240 companies, which account for 57%, registered year-on-year growth; and the growth rate of 519 companies’ net profits was over 20%.

New industries like communication, electron and artificial intelligence are showing the fastest growth. Communication firms recorded net profits up 278.69%, with 23 companies achieving at least double-digit growth. 

According to the Shenzhen Stock Exchange, 989 companies are listed as “new strategic industrial companies”, of which 863 were profitable, with revenues of RMB2.323 trillion, making up 40% the total revenues in Shenzhen.

It is also notable that “new strategic industrial companies” in Shenzhen invested RMB130.132 billion in R&D, up 30.21% YoY.

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