More than 500 Chinese listed firms have posted their initial financial performance reports for the first quarter (Q1) of this year, with the majority predicting improving profits or revenues, according to Shanghai Securities News.
Statistics reveal that 326 companies estimated better Q1 financial performance, accounting for about 60 percent of the firms which had disclosed information by Wednesday.
Among the better performers, 214 are in high-end manufacturing, such as electronics and mechanical engineering.
Tanac Automation Co. Ltd., a leading high-end manufacturing firm, predicted its Q1 net profit to be 32.9 million to 34 million yuan (about 4.9 million U.S. dollars to 5.1 million U.S. dollars), with year-on-year growth of 787 to 817 percent.
Electronics, electrical equipment and other manufacturing sectors also forecast better financial performances thanks to booming business capacity.