According to a report published by CICC, some Chinese stocks began announcing their interim results at the end of July, while the peak period was mid-late August. It is estimated that the overall profit of Chinese stocks in the first half of the year will increase 17% from the same period last year to a sharp decrease of 16%. In particular, the cyclical industry is expected to drop 45%. However, I believeThe financial industryIt has some resilience with the defensive sector, and its profit is expected to drop 3% and increase 1%, respectively.

The report added that the impact of the epidemic on the economy and profits was mainly concentrated in the first quarter. As the resumption of work continued and the economy continued to recover, corporate profits gradually recovered since the second quarter. Looking ahead, the bank expects that corporate profit growth will gradually rise from the low in the first quarter. Two major factors, revenue recovery and profit margin improvements in the context of continued resumption of work, are expected to support profits. It is estimated that the overall net profit of overseas Chinese stocks fell 4.7% this year. Among them, the non-financial industry fell by 12.1%, while the financial industry is expected to grow by 1.4%. As for 2021, the overall performance growth rate is expected to rise sharply to 15%. (sw/u)

ASDAQ Financial News