CMBC Again One of Forbes Asia-Pacific Top 50

2007-9-14

Xinhua News Agency
 
Recently, "Forbes", the American financial magazine, posted on its website the top 50 "Fabulous 50" for Asia-Pacific region's largest enterprises. Among them, seven enterprises are from Chinese mainland, the best record in history.

According to company's long-term profitability, sales, profit growth, stock and the future profit projection, "Forbes" has assessed companies with annual revenue or market value not less than 5 billion US dollars in the Asia-Pacific region and get the list. 
 
According to the list, seven Chinese mainland enterprises, the CMBC, China Mobile Communications Corporation, China Shenhua Energy Co., the China National Offshore Oil Corporation, Lenovo Group, China Minmetals Corporation and Wuhan Iron and Steel (Group) Company, are on the list. CMBC, Lenovo, CNOOC, China Mobile and China Minmetals are not the first time being listed.

The interim report of CMBC released on August 31 shows that all indicators are good, that business grows rapidly and steady with net profit of 2.821 billion yuan, 0.23 yuan basic earnings per share. The profit growth is mainly based on expansion of asset, restructuring and asset fees and net income from commission. According to source, as of June 30, CMBC’s asset totals 852.1 billion yuan, realizing 127.013 billion yuan growth which is about 17.52% higher than the figure by the end of last year. In the first half of 2007, CMBC realizes 11.29 billion yuan of revenue which is 3.632 billion yuan or 47.42% higher than the same period in last year Net profit is 2.821 billion yuan with an increase of 1.12 billion yuan or 65.81% higher than over the previous year.

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