By August 31, 2009, a total of 867 companies listed on the Shanghai Stock Exchange (SSE) have completed disclosure of their semi-annual reports of 2009. In a nutshell, the 2nd quarter sees a greater month-on-month increase in the performance of the companies, especially those in the SSE 50 Index, which boast a stronger performance.
According to statistics, the 867 SSE-listed companies realized a total of RMB436.9 billion net profits belonging to the shareholders of parent companies, the earning per share of RMB0.2040 and the return on net assets of 6.88% in the 1st half of 2009, down 9.12%, 13.49% and 18.19%, respectively, compared with the same period of last year. The net profits belonging to the shareholders of parent companies in the 2nd quarter of 2009 were RMB252.5 billion and the earning per share was RMB0.1179, up 5.43% and 0.35% from the 2nd quarter of 2008, or up 36.96% and 33.52%, respectively, from the 1st quarter of 2009. The number of companies suffered losses is 191, increased by 81 compared with the 1st half of 2008.
At the end of June 2009, the SSE-listed companies' net assets were RMB6.3487 trillion, increased by 11.05% from the same period of last year. Their business income was RMB4.2142 trillion, dropped by 7.08% compared with the same period of last year. Their net asset value per share was RMB2.96, with a year-on-year increase of 5.87%.
In the 1st half of 2009, the net cash flow from operating activities of all the SSE-listed companies were RMB471.6 billion, with a year-on-year decrease of 29%. Their net cash flow from operating activities per share was RMB0.22, with a year-on-year decline of 33%.
In the 1st half of 2009, a total of RMB307.8 billion net profits owned by shareholders of parent companies, or 70% of the total of all the listed companies, were realized by the top 10 profit-gaining companies on the SSE, including Industrial and Commercial Bank of China Limited, China Construction Bank Corporation, Petrochina Company Limited, Bank of China Limited, China Petroleum & Chemical Corporation, China Shenhua Energy Company Limited, Branch of Bank of Communications Co., Ltd., China Life Insurance Company Limited, China Merchants Bank Co., Limited and China Minsheng Banking Corp., Ltd. The business income and net profit of the companies in the SSE 50 Index totaled RMB2.7032 trillion and RMB376.2 billion, accounting for 64% and 86% of the total of all the listed companies, respectively. These large-cap blue chips, the backbone for making profit on the SSE, outperformed the overall level of the SSE-listed companies.
Take a close look into the industries. A large proportion of the listed companies slowed down their decline of performance thanks to the RMB4 trillion government investment programs. The performance of banking, mining and wine industries maintained impressive while that of insurance, power and aerospace industries rebounded obviously. Steel companies saw an inflexion point with their losses narrowed down from the 1st quarter of 2009. Companies engaging in precious metals showed a strong performance while non-ferrous metal companies suffered dramatic losses in their performance.
In the disclosure of semi-annual reports of 2009, all the listed companies are required to synchronously file XBRL instance documents. By August 31, all of the 867 listed companies had disclosed on schedule their XBRL instance documents on the SSE's website. The application of XBRL enables all market participants to have the access to reliable information. With ensured accuracy and reliability of the data of listed companies from the data source, it has greatly increased the information transparency of the capital market, thus enhancing its operational efficiency.
So far, the SSE has partly finished the after-action comment of semi-annual reports, with the remaining work well under way. It is predicted that the whole examination work will be rounded off in the middle of this September.