Except the 14 companies that were losing money, the foreign-currency denominated B-share firms reported 0.2093 yuan in per share earnings, up 2.35 percent from the level of 1999.

International Container listed on the Shenzhen Stock Exchange led B-share firms with a per share earning of 1.358 yuan, while Shanghai-listed Matsuoka's 24 percent net asset earning ratio ranked it first in this category.

Blue chips like Little Swan, Shangling, Sanmao Textile, Changyuand Shenzhen Vanke continued their strong growth momentum, with their per share earning up to 0.35 yuan or more.

Newly listed B-shares outperformed those listed before 1998 in general. Six B-shares listed in 2000 averaged a per share earning of 0.44 yuan, while all 24 shares with a per share earning of less than 0.01 yuan were listed before 1998.

Seven firms stepped out of the red in 2000, but five firms joined the ranks of other companies losing money in the same period, adding the total number to 14.

Traditional blue chips including the Shenzhen Konka, Guangdong Power and others reported big slides in their profits.

Analysts say this is because some of them have passed the period of high growth and entered the period of stable development.

For others, the decline was attributed to the depression in the whole industry, such as the one in the home appliance and motorcycle industries.

Poor management and high management costs are also major factors for some enterprises, analysts say.

(Eastday.com 05/21/2001)