Over half of China's listed companies forecast better Q1 financial performance

BEIJING - More than 55 percent of China's listed companies reported profit growth forecast in the first quarter, industry data showed Thursday.

As of Wednesday, 850 listed companies had reported better performance prediction for the first quarter, accounting for 55 percent of the 1,540 firms that had disclosed their financial information, according to financial data analyzer Wind.

Of them, 367 companies have estimated to witness a year-on-year growth of 100 percent in net profits in Q1, and 37 have forecasted net profits growth exceeding 1,000 percent.

Companies in sectors including construction materials, communications and textile are among the best performers.

Sectors in nonferrous metals, transportation and media saw mild profit growth forecast, according to Wind.