(Yicai Global) May 6 -- More than 80 percent of companies that have gone public on the Shenzhen Stock Exchange made money last year, and nearly 60 percent saw their profits swell, according to the latest figures.

Aggregate net profits expanded 6.7 percent in 2021 from the year before to CNY977.6 billion (USD146.8 billion), according to data released by the bourse yesterday, based on the 2021 financial reports issued by 2,638 out of the 2,635 listed companies as of April 30. Combined revenue jumped 23.4 percent to CNY977.6 billion (USD146.8 billion).

Big firms whose market value is in the top 10 percent contributed nearly half of the revenue and over 80 percent of the profit. They saw a 18.6 percent jump in profit and 31 percent surge in revenue.

Seventy-eight percent of all the profit came from the manufacturing industry where profits soared 38.6 percent and revenue leapt 27.8 percent.

Profit at firms in the mining sector nearly tripled, while those in the petroleum, chemicals, non-ferrous metals and steel industries saw their profits double on the back of surging commodity prices. The new energy sector, including battery materials producers, battery makers and auto manufacturers, also doubled their profit and revenue. Those engaged in electronics and biomedicine did well too.

Net profit in the retail sector more than doubled while the transport industry saw a 19.5 percent jump as the impact of Covid-19 waned. The hospitality and catering sectors were still in the red, but the losses narrowed.

There are 1,493 companies listed on the main board, which merged with the small and medium-sized enterprise board a year ago, and 1,142 firms on the Nasdaq-style ChiNext. Last year, 11 companies were removed from the Shenzhen bourse. This year, 24 firms are facing delisting risk.

Editor: Kim Taylor