Beijing Stock Exchange Photo:Chi Jingyi/GT

The Beijing Stock Exchange (BSE) said on Sunday that 90 percent of the companies listed on the exchange made profits in the first half as support policies kicked in. The results show strong resilience and potential amid external risks. 

The total revenue of profitable companies hit 77.025 billion yuan ($10.77 billion), up 4.43 percent year-on-year, while total net profit hit 5.75 billion yuan, down 24.93 percent, the BSE's data showed. Some small and medium-sized enterprises were under pressure due to the impact of cyclical adjustments and external risks.

Enterprises in emerging industries achieved remarkable performances. Boosted by China's carbon emissions strategy, the total net profit of photovoltaic enterprises reached 79.94 million yuan, up 35.84 percent year-on-year.
  
High-end equipment manufacturers grew rapidly, as the net profit of aerospace equipment maker Nantong Tongyi Aerospace Science and Technology Co rose 314.3 percent year-on-year. Electronic equipment maker Kerun Intelligent Control Co's net profit rose 121.57 percent year-on-year.

With domestic semiconductor firms accelerating their localization, the revenue of Beijing Kaide Quartz Co surged by 38.9 percent year-on-year. The revenue of semiconductor testing company Sino IC Technology Co surged by 22.59 percent.

China's securities regulator on Friday released a new round of comprehensive reforms for the BSE, aiming to improve the market's size, efficiency, quality and activity in three to five years, and build the bourse into a market of mature investors and a complete basic system in five to 10 years.

The move was in line with the top-level meeting held in July, which said that China's capital market should be activated to boost investor confidence, analysts said.

The BSE has so far 217 listed companies, nearly three times the number when the market opened, among which high-tech enterprises account for over 90 percent. There are 5.57 million qualified investors in the BSE, the Xinhua News Agency reported. 


Global Times