Up to Feb 2, 2020, 2,185 companies listed in China's A-share market have disclosed performance forecasts in 2019, and 1,303 companies registered positive business predictions, accounting for nearly 60 percent of the total, according to Securities Daily cited from HiThink Financial Services.

Among the 1,303 companies with positive forecasts, 607 companies were expected to record better performance compared with the previous year, and 62 companies maintained sustainable benefits in the last two years. Sixty-seven companies reversed losses and turned from deficit to profit, while the business performance of 165 companies grew slightly from the previous year.

According to Securities Daily, the performance of 956 listed companies was expected to grow by more than 50 percent, with 608 doubling their performance compared with the previous year.

Guangdong SACA Precision Manufacturing, Easyhome New Retail Group, Shenzhen Genvict Technologies and 24 other companies witnessed an estimated tenfold growth in business performance from the previous year. Beijing Wanji Technology, a China-based company principally engaged in the research, design, manufacture and distribution of dynamic weighing products and dedicated short-range communications products, took the lead of 13,849 percent expected growth.

Wanji Technology said its soar in overall profits can be attributed to the rollout of electronic toll collection across China as the country moved to shut down road toll stations in province-level areas, which led to a boom in Wanji's ETC shipments and a corresponding increase in corporate profits.

As the outlook for nearly 60 percent of companies remained positive for the year ahead, 39 percent of the A-share market listed companies disclosed a negative forecast. Danhua Chemical Technology, Harbin ZhongFei New Technology, Zhejiang Sunriver Culture and 91 other companies were estimated to swing to a net profit drop in 2019, down over 1,000 percent year-on-year.

Danhua Chemical Technology claimed its slump in business performance mainly resulted from the continuous decline of ethylene glycol sales prices, which dropped 33.7 percent compared with 2018.

From the perspective of net profits, 10 listed companies were expected to register over 10 billion yuan respectively in 2019, such as Kweichow Moutai, SAIC Motor, and Suning.Com etc. However, there are 413 companies estimated to report a net loss, with three companies lost over 10 billion yuan, including Qinghai Salt Lake, Beijing Xinwei Technology and Leshi.