What were the most profitable kinds of businesses in 2009?
Judging from 419 annual reports of Chinese listed companies, the top three were tolls for roads and bridges, banking and insurance and real estate, the Yangcheng Evening News reported today.
Nobody is surprised to see real estate making the top three. Twenty-eight out of 32 listed real estate companies scored a 30 percent gross profit ratio or more.
Poly Real Estate posted a gross profit ratio of 35.82 percent, Gemdale Group Real Estate of 37.13 percent and Vanke Real Estate with 29.32 percent. Nanjing Chixia Development Co topped the industry with a gross profit ratio of 64.36 percent, the newspaper reported.
According to statistics released by Genius Finance, a financial information service company, five out of seven listed financial companies have gained more than 50 percent in gross profits.
Southwest Securities was at the top with 60.8 percent. GF securities, the lowest, still gained 35.95 percent of gross profits, the newspaper reported.
The gross profit ratio of the toll business is even higher. The gross profit ratio of the Chongqing Road and Bridge last year reached 86.64 percent and that of Guangxi Wuzhou Communications Co reached 72.81 percent, said the newspaper.