May 05, 1999
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| May 05, 1999 | atimes.com | |
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| China Performance of China's listed firms slid in '98 BEIJING - The performance of China's 878 listed firms as a whole slid in 1998, as indicated by their annual reports. By April 30, the deadline set by the China Securities Regulatory Commission (CSRC), a total of 868 firms had published their annual reports. An analysis of their reports show that the 868 firms recorded a weighted average earning of 0.2 yuan per share, which was 0.05 yuan less than in 1997. The weighted average ratio of net assets return of the 868 firms fell by 2.18 percent on a yearly basis to read 7.97 percent in 1998, while their average net assets increased by 0.05 yuan to stand at 2.5 yuan. Seventy-three of the 868 firms recorded a loss in 1998, compared with 37 out of 772 listed firms a year earlier. A total of 357 firms reported decreased net profits in 1998. Of the 10 firms that failed to publish their annual reports, five have predicted serious losses in 1998. Analysts said the poor performance of the listed firms was connected to the severe economic situation both inside and outside China in 1998. (Asia Pulse/XIC) | |||||||||
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