Companies on China's sci-tech innovation board report stellar growth

SHANGHAI -- Companies listed on the Shanghai Stock Exchange's sci-tech innovation board saw rapid growth in both revenue and profits in the first three quarters of this year.

The combined operating revenue of 480 tech firms jumped 33 percent from a year ago to 782.21 billion yuan ($108.34 billion) in the Jan-Sept period, according to the exchange. Their net profits totaled 89.12 billion yuan, also up significantly by 25 percent.

The increases were much higher than companies listed on the Shanghai main board.

In the face of complicated situations at home and abroad, the board's firms stayed focused on main business and innovation development, and showed great vitality and resilience with their steady, substantial growth, the exchange said.

In the first three quarters, companies in new energy and environmental protection sectors posted leading growth rates, while high-end equipment manufacturing and bio-medicine also saw satisfactory results. But the performance of new-generation information technology and new materials sectors was below average.

As to the Shanghai main board, 1,669 companies raked in 37.23 trillion yuan of revenue in the first nine months, up 8 percent year-on-year. Their net profits gained 5 percent to 3.39 trillion yuan.

At the end of September, foreign investors held 1.57 trillion yuan of shares on the main board, accounting for 4.4 percent of the total, basically flat with the beginning of the year.