Most listed companies forecast upbeat results for first 3 quarters

Earnings forecasts of listed companies on the Shanghai and Shenzhen bourses suggest that over 60 percent are poised to post upbeat results for the first three quarters, Shanghai Securities News reported Monday. By Sept. 30, 826 listed companies in the two bourses had unveiled their earnings forecasts for the first three quarters, and 61.74 percent announced good news. Of the 510 well-performing companies, 484 have forecasted earnings growth compared to the same period last year, while 26 companies managed to get out of the red. Despite the general upward trend in profits in the first nine months, quarter-on-quarter growth slacked. Net earnings of these companies in the third quarter edged up 0.39 percent over the previous quarter, much lower than the 33.6 percent quarter-on-quarter growth posted in the second quarter. Real estate and non-ferrous metals led the quarterly decline, down 45.5 percent and 35.03 percent, respectively. The listed companies are expected to release their quarterly reports from Oct. 11 to Oct. 31.