ICBC tops list of 2009 most profitable companies

Updated: 2009-11-03 10:56:48



  As of October 31, three quarterly reports of listed companies have all came out. Quarter-on-quarter growth of five industries, namely non-ferrous metals, medicine, biotechnology, light industry manufacturing, public utilities, and construction and building materials expanded impressively, while performance of industries like ferrous metals, electronic components, and household appliances dropped significantly.
  Judging by the absolute value of net profit, in the previous three quarters, Industrial and Commercial Bank of China (ICBC) topped the list with 99.91 billion yuan, followed by China Construction Bank, China National Petroleum Corporation (CNPC), Bank of China, China Petroleum & Chemical Corporation (Sinopec), China Shenhua, Bank of Communications, China Life Insurance, China Merchants Bank, and China CITIC Bank.
  Total net profit of these ten companies reached 470.99 billion yuan, accounting for 60% of all the listed companies' total net profit. Among the top ten most profitable companies, 5 are banks.
  According to comparable statistics on October 30, since the first quarter of this year, a total of 232 companies maintained growth, but the growth rate in the third quarter is significantly less than in the second quarter.
  Data shows that in the fourth quarter of 2008, these 232 companies' total loss reached 38.66 billion yuan. However, due to the implementation of China's 4 trillion yuan stimulus, as well as the global economy generally picking up since the first quarter of this year, the performance of listed companies began to turn for the better. The performance of the 232 companies mentioned above improved in the first quarter, and the total net profit reached 28.69 billion yuan. In the second quarter total net profit surged 62% year on year, and in the third quarter continued to grow over 35% compare to the same period last year.