In the first half of the year, over 4,800 companies have published their worst financial reports. 53% of listed companies’ net profits have declined, and nearly 900 lost huge sums of money.
According to Sina Finance, aviation suffered the worst. The net losses of 7 Chinese airlines in the first half of the year reached 66.6 billion yuan ($9.4 billion). Passenger numbers halved compared to the same period last year.
Tourism, catering, and retail sectors ranked second. Most of them are operating at a loss. Of the 36 businesses, 28 are loss-making. The profits of culinary sectors, such as Chinese food, Western fast food, hot pot, and braised, have all plunged.
Third place went to the real estate sector. Due to the severe crisis that the entire sector has gone through and is going through because of the shortage of supplies, listed real estate companies have had a bad first half of the year.
For example, incomplete buildings are like weeds growing on a rainy night all over the country. Many landlords plan to stop lending. Some of them accept payments made with watermelon, wheat and garlic.
On the other hand, the nucleic acid industry chain experienced a meteoric rise in the first half of this year.
According to Jiu’an Medical’s report, its net profit increased 375-fold in the first quarter, with a net profit of 21 billion yuan ($3 billion). As expected, the nucleic acid testing station also released a concept stock section.
Wanfu Bio’s profit increased 1.2 times per month and 4.8 times per year. Epidemic surveillance is the responsibility of Wanfu Bio. In addition, numerous testing companies, such as Mingde Bio and Yahuilong, have obtained excellent results.
Kexing Pharmaceuticals, a US-listed company, reported its first-quarter revenue of around $4.2 million (270 million yuan) and net profit of around $4.2 million (29.11 million yuan), an increase of 80 times from a year earlier.
This means that the company makes more than $21.5 million (150 million yuan) each day. According to the company, the sales of Kexing Kerlaifu vaccines account for most of the company’s revenue.