China-listed stocks show better 1H results; 2H prospects weak

On average, China''s listed companies increased their earnings in the first half, but prospects look bleak for year-end says CLSA.

For the first half of 2001, earnings per share EPS for domestically listed Chinese companies averaged Rmb0.1025, up 3.2% on-year, while average return on equity ROE was 4.1% compared to 5.0% a year ago, according to research from investment bank CLSA. 

The improved quality of companies' earnings is likely to be overshadowed in the second half by losses on listed companies' stock market investments, comments Erwin Sanft, CLSA's head of China research, referring to the practice...

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