A total of 687 out of 2,700-odd companies listed on China's Shanghai and Shenzhen bourses that have released third-quarter results posted a combined net profit of 317.8 billion yuan, rising by only one percent year on year, according to Wind Data.
Among them, 260 companies saw a fall in net profits while 72 ones posted net losses, representing 48.3 percent of the total. The 600-plus companies generated combined revenue totaling 2.44 trillion yuan in the third quarter, up two percent year on year.
Among them, 241 ones saw a year on year decline in revenue, representing 35.1 percent of the total. By sectors, companies in cyclical sectors such as iron and steel, coal and nonferrous metals sectors underperformed those in other sectors.
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