Seven Shenzhen-based companies were included in the top 10 listed enterprises in Guangdong Province, in terms of the profit they garnered last year, according to data released by Guangdong’s securities regulatory authority.
Shenzhen-based Ping An Insurance (Group) Company of China, Ltd., with a net profit of some 143.1 billion yuan (US$22.4 billion), ranked first among all listed companies from China A-Shares in Guangdong, and was followed by China Merchants Bank (97.342 billion yuan) and Vanke (41.516 billion yuan), both from Shenzhen, data also shows.
The last four Shenzhen-based companies on the list of top 10 most profitable listed firms in Guangdong include Ping An Bank, Foxconn Industrial Internet, CITIC Securities and Overseas Chinese Town (OCT).
In Guangdong, 13 firms saw their total net profits last year exceed 10 billion yuan. The enterprises are mainly in finance and real estate industries.
According to the data, 710 listed companies in Guangdong achieved a revenue of 7.58 trillion yuan in total last year, up by 6.54 percent year on year, while the total revenue of 672 listed Guangdong companies of legal entities (companies in finance and real estate industries not included) reached 4.65 trillion yuan, up by 4.07 percent year on year.
The combined net profit of the 710 companies were 688.2 billion yuan, up 4.5 percent from a year earlier, while the 672 listed enterprises garnered a total net profit of 258.2 billion yuan, up 9.47 percent from a year earlier, according to the data.
In terms of cash flow, eight companies from Shenzhen were among the top 10. China Merchants Bank, with a cash flow of roughly 421.3 billion yuan, held the first position in this area, followed by Ping An Insurance (312.075 billion yuan) and CITIC Securities (101.825 billion yuan).
It is also worth noting that more and more listed companies in Guangdong have increased their spending on research and development.