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Chinese listed companies' net profit down 17% in 2008

(Xinhua)
Updated: 2009-04-30 16:34

The 2008 net profit of 1,624 companies listed on the Shanghai and Shenzhen stock exchanges fell 17 percent from a year earlier to 820.82 billion yuan ($120.18 billion), the China Securities Journal Information Center reported Thursday.

Nearly 18.5 percent of the companies reported losses in 2008. The figure was 7 percent in 2007.

However, the 1,624 companies reported 203.76 billion yuan in net profit in the first quarter of 2009, or 4.5 times more than the fourth quarter of 2008.