China's listed firms bullish on 2013 results

A majority of listed firms that have released preliminary reports expect to perform better in 2013, the Shanghai Securities News reported Friday.

Among the 1,734 companies to release forecasts for last year, 1,000 expect better results: 821 anticipate rising profits and 179 reversals of previous losses.

Altogether 398 firms predicted increases of over 100 percent in net profits, led by special treatment (ST) shares such as Shenzhen International Enterprise Co., Ltd and Yihua Real Estate.

Firms marked as ST have had two consecutive years of net losses, which makes de-listing a high possibility.

Thanks to restructuring and asset transfers, most ST firms have reversed losses in 2013, the report said.

China's key stock index, the Shanghai Composite Index, lost over 6 percent in 2013.