(CBN - Global) May 11 -- There are 12 companies listed on the Shanghai and Shenzhen stock markets with shares valued at CNY100 (USD15.3) or more, down 70 percent from the beginning of this year.
The Shanghai composite index ended the year 2015 at 3,539.18. On May 9, the market closed at 2,832.11, representing a fall of almost 20 percent in five months.
Companies with shares still trading over CNY100 include liquor producer Kweichow Moutai Co. [SHA:600519] and tech company Thunder Software Technology Co. [SHE:300496].
More than 90 percent of A-share listed companies that provided financial reports in April were reliant on government subsidies to maintain a profit, according to a report available on the Internet.
A-shares are denominated in Chinese yuan and are traded on the Shanghai and Shenzhen stock exchanges. Only Chinese individuals and institutions can buy them.