China’s listed stocks see ever-thinner profits as economic slump chips away at bottom line

Quick Summary:

The profits of 5,000 companies on the mainland’s three exchanges dropped 3.7 per cent in the three months that ended in September, China Merchants Securities said.

Industrial and consumer companies were the major drag on third-quarter earnings, while financial companies and property developers returned to profit growth, according to Haitong Securities.

While listed companies adopted cost-cutting measures, that did little to boost profitability.

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Article Details

Author / Journalist: Zhang Shidong

Category: Business

Markets: Hong KongChina

Topics: Companies Cent Securities Month Growth Prices Mainland’s Three China’s Profits Year

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 17:00:20 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 348 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23362848

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