Chinese listed companies posted worst earnings in a decade in Q1 amid coronavirus

 

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Chinese listed companies posted their worst earnings in a decade in the first quarter after factories shuttered and consumer spending tumbled amid the lockdown measures imposed to contain the coronavirus outbreak.

The more than 3,000 companies listed on the Shanghai and Shenzhen exchanges, excluding those in the banking and petroleum sectors, posted a 42 per cent drop in profits on average from a year earlier, according to data compiled by Soochow Securities. Apparel manufacturers and transport-related companies suffered the most during the epidemic, it said.

The decline in earnings was only 24 per . . .

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