Half of China's listed companies issue growth forecasts

BEIJING -- Nearly half of China's A-share listed enterprises have issued growth forecasts for the first half of the year, with most companies reporting mild growth overall.

As of Monday, 939 companies listed on the Shanghai and Shenzhen bourses had released profit forecasts for the first half. More companies are expected to do the same soon.

The companies forecast combined net profits of 55.1 to 75 billion yuan ($8.92 to $12.14 billion) for the first half and a net profit growth range of 2.86 to 7.7 percent year-on-year, the Shanghai Securities News reported on Tuesday.

But the year-on-year growth rate range was much lower than the 10.27-percent average growth rate reported in the first quarter, the paper said.

Of the 939 companies, 457 companies forecast year-on-year profit growth, while 254 companies expect profit drops or even losses.

The Shanghai and Shenzhen stock exchanges had 2,494 listed companies by the end of 2012, according to the bourses' websites.