10 STAR companies set to report profit rise 
2019-12-04
A TOTAL of 10 firms listed on the Shanghai-based SSE STAR market are likely to post net profit growth in their 2019 results, early estimates released yesterday showed.
The 10 firms are among the 12 STAR-listed companies to make the predictions yesterday.
This is the first time these companies have posted annual results since the new sci-tech innovation board opened in July. 
Up to now, 58 firms have listed on the STAR market and 180 firms are in the process of registration.
Among the 12 firms posting annual forecasts for 2019, seven posted net profit growth of over 20 percent, including two firms with annual net profit surpassing 100 million yuan (US$14.3 million). 
Beijing Balance Medical Technology Co, which has finished online and offline initial public offering processes, expects net profit to hit between 61.2 million and 65.3 million yuan, representing 83 to 95 percent growth year on year.
On average, the 12 firms posted net profit of over 60 million yuan, with expected revenue of 200 million yuan — both over 10 percent growth from a year ago.
The sci-tech innovation board focused on companies in high-tech and strategic emerging sectors. 
It has less strict listing criteria but higher requirements for information disclosure.
Top executives from STAR-listed firms were also told by regulators to strengthen internal regulations recently, including compliance and information publishing. 
