BUSINESS China's 'new third board' selected layer sees net profit gain in 2020

BUSINESS

China's 'new third board' selected layer sees net profit gain in 2020

Xinhua

15:38, March 14, 2021

File photo: VCG

BEIJING, March 14 (Xinhua) -- Nearly 70 percent of companies listed on the selected layer of China's National Equities Exchange and Quotations (NEEQ), or the "new third board," reported net profit gain in 2020.

In 2020, net profits of 51 companies listed on the NEEQ selected layer exceeded 4.10 billion yuan (about 625.98 billion U.S. dollars), with an average net profit of 80.32 million yuan, a year-on-year increase of 15.15 percent.

Among them, 35 companies reported year-on-year growth in net profits, accounting for 69 percent of the total, NEEQ data showed.

The total operating income of the 51 companies reached 37.68 billion yuan last year, with an average operating income of 739 million yuan, up 9.99 percent year on year.

NEEQ-listed companies will be allowed to be shifted to the sci-tech innovation board of the Shanghai Stock Exchange and the Shenzhen Stock Exchange's board of growth enterprises, according to the latest regulations.

The NEEQ selected layer, opened in July last year, currently covers 24 major industries, focusing on the subdivision which combines sci-tech innovation and people's livelihood, such as pharmaceutical manufacturing, software information and special equipment manufacturing.

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