Chinese listed media companies have announced strong financial results for the third quarter and the first three quarters of this year, and analysts forecast media-related shares will continue to perform well in the fourth quarter thanks to a string of upcoming big-budget productions.
According to Xinhua's calculations based on publicly disclosed data, the 62 media firms listed on the Shanghai and Shenzhen bourses reported a 57.18 percent average year-on-year growth in net profits in the three months through September, sharply higher than 23.87 percent in last year's corresponding period.
Of the 62 companies, 46, or almost 75 percent, revealed a year-on-year increase in net profits, and 26, in particular, posted a more than 100 percent.net profit growth.
Media-related shares in China's stock market have risen nearly 60 percent since the start of this year, compared with a merely 5 percent rise of benchmark Shanghai stock index for the same time period.
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