Profit at Chinese state industry rises with virus recovery
3 years, 11 months ago

Profit at Chinese state industry rises with virus recovery

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Total revenue for national-level companies rose 2.2% over 2019 to 30.3 trillion yuan, according to Peng Huagang, secretary general of the State-Owned Assets Supervision and Administration Commission. Profit at 24 national-level state companies rose by more than 25% over 2019 and two had profit of more than 100 billion yuan, Peng said, without identifying them or giving other details. Revenue growth accelerated to 11.7% over a year earlier in December as China’s economy rebounded, reaching a record 3.7 trillion yuan, Peng said.

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History of this topic

China’s Didi bounces back from losses caused by Beijing’s crackdown on internet services as it prepares IPO in Hong Kong
4 months ago

China’s Didi bounces back from losses caused by Beijing’s crackdown on internet services as it prepares IPO in Hong Kong

Live Mint  

- Didi Global Inc. swung to a profit in the June quarter, a welcome boost for the company as it prepares for a potential re-listing in Hong Kong. China’s leading ride-hailing provider reported a net profit of 1.4 billion yuan, from a small loss a year earlier. Once hailed as a national champion that defeated Uber Technologies Inc. in China, …

SOEs likely to lift emerging industries
5 months, 3 weeks ago

SOEs likely to lift emerging industries

China Daily  

Robot arms in use on the production line of a new energy vehicle maker in Changchun, Jilin province. XU CHANG/XINHUA China's endeavors to expedite technological advancement and cultivate new quality productive forces will encourage its centrally administered State-owned enterprises to deploy more resources toward developing strategic emerging industries, said senior SOE executives. Central SOEs, including train manufacturer CRRC Corp, energy …

SOEs likely to lift emerging industries
5 months, 3 weeks ago

SOEs likely to lift emerging industries

China Daily  

Robot arms in use on the production line of a new energy vehicle maker in Changchun, Jilin province. XU CHANG/XINHUA China's endeavors to expedite technological advancement and cultivate new quality productive forces will encourage its centrally administered State-owned enterprises to deploy more resources toward developing strategic emerging industries, said senior SOE executives. Central SOEs, including train manufacturer CRRC Corp, energy …

China's central SOEs' profits reach 2.6 trillion yuan in 2023
11 months ago

China's central SOEs' profits reach 2.6 trillion yuan in 2023

China Daily  

A view of a shipyard run by Dalian Shipbuilding Industry Co Ltd, a subsidiary of State-owned China State Shipbuilding Corp Ltd, in Dalian, Liaoning province, in February. The total profits of China's centrally-administered State-owned enterprises amounted to 2.6 trillion yuan in 2023, while their operating revenue reached 39.8 trillion yuan, according to data released by the country's top state assets …

Shenzhen-listed firms report revenues totaling 15t yuan in January-September
1 year, 1 month ago

Shenzhen-listed firms report revenues totaling 15t yuan in January-September

China Daily  

A staff member walks past the Shenzhen Stock Exchange in Shenzhen, South China's Guangdong province, Sept 21, 2020. BEIJING - Firms listed on China's Shenzhen Stock Exchange reported 15.06 trillion yuan in operating revenues in the first three quarters of 2023, up 4.19 percent year-on-year, according to a disclosure from the bourse. As of Oct 31, all of 2,830 firms …

Shenzhen-listed firms report revenues totaling 15t yuan in January-September
1 year, 1 month ago

Shenzhen-listed firms report revenues totaling 15t yuan in January-September

China Daily  

A staff member walks past the Shenzhen Stock Exchange in Shenzhen, South China's Guangdong province, Sept 21, 2020. BEIJING - Firms listed on China's Shenzhen Stock Exchange reported 15.06 trillion yuan in operating revenues in the first three quarters of 2023, up 4.19 percent year-on-year, according to a disclosure from the bourse. As of Oct 31, all of 2,830 firms …

State oil giants report mixed profits amid headwinds; bullish on H2
1 year, 3 months ago

State oil giants report mixed profits amid headwinds; bullish on H2

China Daily  

A smart patrol robot is seen at a China National Petroleum Corp facility in the Ordos Basin in July. China's three State-owned oil majors saw their net profits during the first half of this year exceed 180 billion yuan, despite the fluctuation of international oil prices. PetroChina reported a record-high first-half net profit, which rose 4.5 percent from the same …

Almost all SZSE A-share companies projected to make profits
1 year, 8 months ago

Almost all SZSE A-share companies projected to make profits

China Daily  

A pedestrian passes an office building of the Shenzhen Stock Exchange on Nov 27, 2018. Contemporary Amperex Technology Co Ltd, the world's largest electric vehicle battery maker, earned operating revenue of 328.59 billion yuan and net profit of 30.73 billion yuan in 2022, an increase of 152 percent and 93 percent year-on-year, respectively. China's largest NEV maker BYD generated revenue …

Almost all SZSE A-share companies projected to make profits
1 year, 8 months ago

Almost all SZSE A-share companies projected to make profits

China Daily  

A pedestrian passes an office building of the Shenzhen Stock Exchange on Nov 27, 2018. Contemporary Amperex Technology Co Ltd, the world's largest electric vehicle battery maker, earned operating revenue of 328.59 billion yuan and net profit of 30.73 billion yuan in 2022, an increase of 152 percent and 93 percent year-on-year, respectively. China's largest NEV maker BYD generated revenue …

China central SOE net profits up 35.71% in three years
1 year, 10 months ago

China central SOE net profits up 35.71% in three years

China Daily  

Haiji One, Asia's first deep-water jacket designed and built independently by China National Offshore Oil Corp, is put into operation in the Pearl River Mouth Basin, more than 200 kilometers southeast of Shenzhen, Guangdong province, in October. BEIJING - Net profits at China's centrally administrated State-owned enterprises rose 35.71 percent to 1.9 trillion yuan in 2022 from that achieved in …

China completes all major tasks from three-year action plan
1 year, 10 months ago

China completes all major tasks from three-year action plan

China Daily  

An employee of CNPC checks a gas facility in Tianjin. China has completed all the major tasks of its three-year action plan for the reform of State-owned enterprises, said the country's top State-owned assets regulator after participating in a key work meeting on Tuesday. Vice-Premier Liu He, also head of the State Council leading group for SOE reform, attended and …

China’s July industrial profits down as COVID-19 curbs, heatwaves hit
2 years, 3 months ago

China’s July industrial profits down as COVID-19 curbs, heatwaves hit

The Hindu  

Profits at China's industrial firms sank in July, reversing previous gains as fresh COVID-19 curbs dragged down demand and squeezed factory margins, while power shortages due to heatwaves threatened production. Profits at China's industrial firms fell 1.1% in January-July from a year earlier, wiping out the 1.0% growth logged during the first six months, the National Bureau of Statistics said …

China fights economic slump, sticks to costly 'zero COVID'
2 years, 7 months ago

China fights economic slump, sticks to costly 'zero COVID'

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. However, he said, “achieving ‘zero …

Shandong SOEs witness rapid growth in Q1
2 years, 7 months ago

Shandong SOEs witness rapid growth in Q1

China Daily  

Shandong provincial State-owned enterprises spend more on research and development. Twenty-six Shandong provincial State-owned enterprises witnessed rapid growth in operating revenue and net profit in the first quarter of 2022, Shandong officials announced at a recent news conference. From January to March, the 26 Shandong SOEs achieved a total operating revenue of 461.67 billion yuan, up 6.4 percent year-on-year, and …

Action taken to ensure foreign trade growth
2 years, 9 months ago

Action taken to ensure foreign trade growth

China Daily  

Workers help moor a freighter in Qingdao, Shandong province. The company, also a leading sensor-based internet of things solution supplier, aims to boost its overseas revenue and profits by more than 50 percent year-on-year by venturing deeper into developed markets such as the European Union and emerging ones, including Southeast Asian countries. Its overseas sales jumped by more than 30 …

Profit falls 81% as China cracks down on big tech: Alibaba
3 years, 1 month ago

Profit falls 81% as China cracks down on big tech: Alibaba

Hindustan Times  

Chinese e-commerce leader Alibaba Group said on Thursday that its profit for the most recent quarter tumbled 81 percent as it grappled with a government crackdown on the country's big tech champions. The Hangzhou-based company's revenues -- generated mainly by its core e-commerce operations -- reached 200.7 billion yuan, up 29 percent. Last year the government scuppered what would have …

Shandong State-owned enterprises deliver strong performance in H1
3 years, 5 months ago

Shandong State-owned enterprises deliver strong performance in H1

China Daily  

Provincial State-owned enterprises in Shandong posted strong performance in the first half of this year, according to an announcement at a news conference held on July 22 by the Information Office of the Shandong Provincial People's Government. By the end of June, the total assets of Shandong provincial State-owned enterprises were valued at 3.93 trillion yuan, up 9 percent and …

Investments worth billions help create provincial subcenter
3 years, 5 months ago

Investments worth billions help create provincial subcenter

China Daily  

Zhanjiang has been growing smoothly into a regional subcenter of Guangdong province and is building a modern coastal economic belt through its gigantic industrial projects. The port city, located in the less-developed western area of Guangdong, is home to several large investments, including the Zhongke Refinery and Petrochemical project, Baosteel project and BASF's smart petrochemical project. With an investment of …

Shandong provincial State-owned enterprises achieve record high annual revenues
3 years, 10 months ago

Shandong provincial State-owned enterprises achieve record high annual revenues

China Daily  

The operating revenue of Shandong provincial State-owned enterprises reached 1.73 trillion yuan in 2020, hitting a record high and up 12.7 percent year-on-year, according to the Shandong Provincial State-owned Assets Supervision and Administration Commission. In the first quarter of 2020, the total profits of Shandong provincial State-owned enterprises fell by 62.5 percent year-on-year, close to the biggest decline in the …

Profits of China's SOEs continue to rise
4 years ago

Profits of China's SOEs continue to rise

China Daily  

A CNOOC employee uses a wireless communication device on an offshore drilling platform in the South China Sea. The SOEs saw their aggregate net profits after taxes go up by 47.2 percent year-on-year last month, while the operating revenue climbed 6 percent, according to data from the Ministry of Finance. In the first 11 months, the SOEs raked in 55.61 …

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