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China's SME board reports good achievements
(Xinhua)
Updated: 2005-04-24 10:24
Annuals published by the 38 companies listed on China's SME (small and
medium-sized enterprises) board of the Shenzhen Stock Exchange established one
year ago have all reported good achievements except the other one whose annuals
will not be published until Wednesday.
Among the all 39 listed enterprises, 37 saw their business income in 2004
growing at an average rate of 26 percent with 15 of them boasting a growth rate
of over thirty percent.
Great profits have begun to be produced from funds collected after going
public. Professionals predict that with more profits being produced, a higher
growth of the SME board is expected in 2005.
However, soaring prices of raw materials such as oil, coal and electricity
power and strained transportation have had some impact on the profits of these
enterprises, said Zhang Yage with the Securities Department of the Xinhecheng
company, a listed company of the SME board.
Over half of the SMEs listed on the board saw their profits damaged by the
soaring prices of raw materials. As for the net profits, despite the high
business income growth of 26 percent, all 39 enterprises only have a growth rate
of 12 percent in 2005. And only nine of the 39 have their net profits growing
more rapidly than their business income growth.
Resulting from the good market achievements, the 38 enterprises having their
annuals published announced a dividends sum of 814 million yuan (98.3 million US
dollars), covering 8.8 percent of all funds they have collected through being
listed, which is 9.274 billion yuan (1.12 billion US dollars).
Such good returns have promoted a soaring trend in the SME board.
Professionals said the future development of the SME board may be polarized,
as some enterprises in a mature industry may have a comparatively limited growth
margin while others, in an industry of wide development space, may continue
their strong growth trend.
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