China's "new third board" firms report profit gains in 2018

2019-05-06 10:13

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BEIJING, May 6 (Xinhua) -- The majority of "new third board" firms posted net profit growth last year, according to financial information provider Wind Info.    

As of April 30, the financial reports release deadline, 9,413 firms listed on China's National Equities Exchange and Quotation (NEEQ) market have disclosed their 2018 financial performances, accounting for 94 percent of all listed firms.    

About 75 percent reported year-on-year increase in net profits in 2018.    A total of 133 firms' net profits exceeded 100 million yuan (about 14.9 million U.S. dollars), and 2,781 firms saw net profits reach over 10 million yuan.   

Qilu Bank Co., the top earner on the NEEQ, witnessed net profit of 2.15 billion yuan last year.    

Founded in 2013, the NEEQ was launched to supplement the Shanghai and Shenzhen stock exchanges and is seen as a better financing channel for SMEs, with low costs and simple listing procedures.
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