Listed Chinese firms see H1 profits rise

Net profits of the 2,027 listed companies rose 11.41 percent year on year to 612.43 billion yuan (99 billion U.S. dollars) in the first half of the year, the China Securities Journal reported on Tuesday.

The companies, which disclosed their first half business reports, account for more than 80 percent of the total listed firms in the Shanghai and Shenzhen markets.

Profits of the listed firms began climbing since the first quarter of the year. This was compared to a 1.51-percent profit drop in the first half of 2012, the report said, citing data from Wind Information Co., Ltd., a Shanghai-based financial data service provider.

The rebound of product prices and a warming business climate contributed to the profit increase, with public services, transport, electronics, real estate and household appliances reporting rises of more than 30 percent in gains, the report said.

With 462 companies yet to disclose their first-half business reports, the Wind Info forecast net profits of China's total listed firms to grow around 12 percent in the January-June period, the report said.

The total business revenues of the 2,027 companies amounted to 7.76 trillion yuan, up 9.14 percent year on year, according to the report.