ChiNext companies see profit growth in first three quarters

Enterprises listed on China's Nasdaq-style ChiNext board reported growth in both profits and revenues in the first three quarters, data from the Shenzhen Stock Exchange showed.

These companies saw their operating revenues increase about 20 percent year on year to hit 2.42 trillion yuan ($333.5 billion) in the January-September period, and their net profits attributable to parent companies climbed almost 10 percent to top 200 billion yuan.

In the third quarter alone, their net profits attributable to parent companies jumped 29.61 percent year on year, accelerating from the 10.45 percent growth recorded in the second quarter.

Despite unfavorable factors like exchange rate fluctuations, COVID-19 resurgences and rising commodity prices, ChiNext-listed companies witnessed a rebound in profitability in the first three quarters, with high-end manufacturers growing particularly well, the stock exchange said.

(CGTN)