Most Chinese Mainland-Listed Firms See First-Half Profits Drop

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Most Chinese mainland-listed companies saw their net profits decline year-on-year in the first half of this year, especially those in the real estate sector.

More than 5,300 companies traded on the mainland posted total revenue of around 34.9 trillion yuan ($4.9 trillion) for the period, down 1.4% year-on-year, according to data released Wednesday by the China Association for Public Companies. The data cover interim reports released by the end of last month.

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Most Chinese mainland-listed companies experienced a year-on-year decline in net profits, with real estate companies being particularly affected.
These companies collectively earned total revenue of around 34.9 trillion yuan, a 1.4% decrease, and net profits fell by 2.4% to approximately 2.9 trillion yuan.
The declines were most pronounced on the Shanghai STAR Market, with notable losses from China Vanke, Longi Green Energy, and Tianqi Lithium.

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Who’s Who

China Vanke Co. Ltd.: China Vanke Co. Ltd., a real estate giant, reported a net loss of about 9.85 billion yuan in the first half of the year, reflecting the broader profit decline seen among mainland-listed companies. The real estate sector has significantly contributed to the market's struggles.

Longi Green Energy Technology Co. Ltd.: Longi Green Energy Technology Co. Ltd., a major solar wafer producer, posted a net loss of about 5.24 billion yuan in the first half of this year. This decline is part of a broader trend affecting many Chinese mainland-listed companies, particularly in the real estate and semiconductor sectors.

Tianqi Lithium Corp.: Tianqi Lithium Corp. posted a net loss of about 5.2 billion yuan in the first half of this year. It is one of the three semiconductor industry companies among the top 10 with the greatest net losses during that period.

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What Happened When

First half of 2024：: Most Chinese mainland-listed companies saw their net profits decline year-on-year, especially those in the real estate sector.

By the end of August 2024：: Interim reports covering more than 5,300 companies traded on the mainland were released, showing total revenue of around 34.9 trillion yuan, down 1.4% year-on-year.

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