Over 400 firms on China's new third board qualify as 'little giants'

BEIJING -- A total of 429 firms listed on China's National Equities Exchange and Quotations, also known as the "new third board," have met the financial standards for "little giants," industrial data showed.

"Little giants" refer to the industry leaders recognized by the Ministry of Industry and Information Technology with specific market orientation, excellent innovation capabilities, large market shares, core technologies, and high product quality and profitability.

In the first half of this year, the 429 companies registered a notable year-on-year growth of 33.56 percent in net profit, while their business revenue increased 13.73 percent.

Meanwhile, statistics indicated that another 2,107 companies showed the potential to reach the level of "little giants" in the future.

The MIIT released the first list of "little giants" in June, including 34 firms listed on the new third board.