The 638 mainland-listed companies who have released their quarterly reports for the third quarter reported total net profit of 45 billion yuan (5.6 billion U.S. dollars) in the first nine months, up 23.6 percent on the same period of last year.

Of them, 391 reported an increase in net profits.

Some 172 companies saw their profits rise by over 50 percent and 110 companies' profits rocketed by over 100 percent year on year.

The three most profitable companies were Nanning Sugar Manufacturing Co, Ltd., Xianyang Pianzhuan Co. Ltd., Huludao Zinc Industry Co. Ltd., who registered year-on-year profit growth of 142.2 times, 77.2 times and 51.4 times respectively.

Industries such as non-ferrous metals, mechanical equipment, medicine and real estate saw the best profits.

Many companies are upbeat about their yearly results.

According to statistics from Wind Info, a leading financial data and financial software provider on the Chinese mainland, 206 companies have already made annual performance forecasts. 94 predicted higher profits and 41 expected to move from a loss-making situation to profits.

The most upbeat companies were from the metal and machine manufacturing industries as well as medicine, biology, wholesale and retail trade, real estate, and food and beverage.

Twenty foresaw a drop in profits this year and 45 companies predicted that they would lose money.

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