Most listed firms report profits NEARLY 90 percent of companies listed on the A-share market reported profits during the first three quarters of 2021, according to a report from the China Association for Public Companies. Net profits of all A-share-listed companies hit 4.43 trillion yuan (US$695 billion) during the first three quarters, up 28.41 percent year on year. Some 30 percent of A-share-listed companies saw their net profits rise above 50 percent year on year during the period, the report said. Number of listed firms rises to 4,640 THE number of companies listed on the domestic market grew since the country adopted a registration-based initial public offering (IPO) system, according to an industry report. By the end of November last year, there were 4,640 companies listed on the A-share market, up 479 from the beginning of 2021, said the China Association for Public Companies. The association forecasts that the number will top 5,000 in August this year. The total value of listed companies also expanded steadily. The number of firms with a value of over 100 billion yuan (US$15.74 billion) stood at 154, reaching a five-year high, said the report. Firms report lower tax expenses FIRMS listed on the Chinese A-share market reported their tax expenses as a percentage of revenue came in at 6.8 percent in the first three quarters of 2021, lower than the 2018 level. The figure was down 0.48 percentage points from the level seen in 2018, a report released by the China Association for Public Companies said, noting that the tax expenses of the listed firms remained generally stable as policies aiding enterprises and reducing taxes and fees paid off. CITIC Securities profit up 54.2% CITIC Securities, a major securities brokerage listed in Shanghai and Hong Kong, saw rapid profit growth in 2021, the firm said in an earnings estimate. Net profit attributable to shareholders for the firm jumped 54.2 percent year on year in 2021 to about 23 billion yuan (US$3.6 billion), the firm said. Its revenue increased 40.8 percent from a year earlier to 76.6 billion yuan. The result came amid sound growth of the overall economy and robust development of the capital market, which facilitated stable growth in the company’s investment banking and asset management businesses, the company said. | 