China's sci-tech innovation board listed firms see H1 revenue growth

All 28 firms listed on China's sci-tech innovation board (STAR) reported rising revenue in the first half of this year, financial statements show.

China Railway Signal & Communication Corporation was the top revenue and profit earner, raking in 20.512 billion yuan (about 2.87 billion U.S. dollars) in revenue and 2.268 billion yuan in net profit.

The company saw its new contracts volume up 5.3 percent year on year to 34.02 billion yuan in the first six months of the year, with robust new contracts growth in railway projects.

The average H1 revenue for the 28 firms stood at 1.177 billion yuan.

Only two firms were in the red, while three firms saw their net profit more than double in H1.

Raytron Technology, an integrated circuit chip firm, reported 64.6899 million yuan in net profit during this period, surging 102.77 percent over a year ago.

The tech firm attributed its net profit expansion to growing business, rising orders and fast sale increases of detectors and other products.

The sci-tech innovation board, which started trading on July 22, is the country's latest capital market reform and innovation move. It is designed to focus on companies in the high-tech and strategic emerging sectors, with less strict listing criteria but higher requirements for information disclosure.

Source(s): Xinhua News Agency