Starmarket companies see strong revenue growth in the first half

More than 90% of companies listed on the STAR Market recorded revenue growth in the first half of 2021.

According to the Shanghai Stock Exchange, as of the end of August, all 331 companies listed on STAR have submitted semi-annual reports, listing announcements and other details.

STAR-listed companies as “pacsetters” of tech innovation are showing resilience and vitality, the exchange said.

“Compared to the same period last year, which was hit hard by the pandemic, both companies resumed steady and rapid growth in the first half of this year, with both operating and net income surged year-on-year.”

The total sales of the star-listed companies were 304.50 billion yuan (US $ 47.02 billion) and the net profit was 43.319 billion yuan, up 55.14% and 105.24% from the previous year.

More than 90% of the companies on the board achieved revenue growth, of which 56 doubled their semi-annual revenues from the same period last year.

In the first half of the year, about 20% of STAR companies’ revenues exceeded 1 billion yuan.

More than 70% of companies have seen an increase in net income, and 30% have achieved up to 743 surges, exceeding 100% from a year ago.

However, profits for some companies declined primarily due to the effects of the pandemic, rising raw material prices, and increased R & D investment.

All six strategic emerging industries showed strong growth from January to June.

The biopharmaceutical industry continued to drive research and development, with revenues skyrocketing 90% and net income attributable to parent companies jumping 176% year-on-year.

Leading companies in the field of COVID-19 testing and vaccines responded quickly to market demand and their performance improved rapidly.

In the new energy industry, the rapid expansion of capacity combined with strong downstream demand led to a rapid increase in operating profit.

A new generation of information technology, energy saving and environmental protection, new materials and high-end equipment manufacturing have all achieved rapid growth.

R & D investment by companies listed on the Star Market remained at a high level of 25,403 million yuan in the first half of the year.

The exchange said it “shows a positive trend in innovation that enhances high-quality development,” and said that more science and technology innovations have emerged.

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