China's listed SMEs report steady H1 revenue growth

BEIJING - Chinese companies listed on the Shenzhen Stock Exchange, most of which are small or medium sized enterprises (SMEs), reported steady revenue and profit growth in the first half of 2016.

A total of 1,787 Shenzhen-listed companies earned about 3.5 trillion yuan ($523 billion), up about 8.6 percent year on year, while net profit was over 244 billion yuan, rising about 5.8 percent year on year, according to a statement released by the Shenzhen Stock Exchange on Wednesday evening.

About two thirds of the 17 sectors grew during the January-June period, with profits in information technology, property and agriculture rising over 20 percent.

Over 250 companies conducted major asset reorganizations, which helped them to above average performance in H1, according to the statement.

In breakdown, traditional sectors and state-owned enterprises experienced slower growth and shrinking profits while SMEs in emerging sectors and growth enterprises posted strong financial performance, the statement showed.