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In 2020, more than 60 percent of Shaoxing's A-shares listed companies saw growth in their revenues, according to a recent report on the performance of 67 listed companies in Shaoxing, East China's Zhejiang province.

The report shows that Zhejiang Longsheng Co Ltd, Zhejiang NHU Co Ltd and Zhejiang Century Huatong Group Co Ltd stood out as top three most profitable companies last year, with each generating a net revenue in excess of 2 billion yuan ($310 million).  

The net revenue of Zhejiang Longsheng Co Ltd reached 4.18 billion yuan last year, making it the most profitable Shaoxing listed company again. It was also among the 10 most profitable listed companies in Zhejiang.

Zhende Medical Co Ltd was the fastest growing company over the past year, with its net revenue in 2020 increasing by 15 times over 2019. The report shows that the company was ranked 17th among Zhejiang's listed companies in terms of annual revenue.

Currently, the number of companies with more than 1 million yuan in annual net revenue is six, and this is expected to grow as Shaoxing Ruifeng Rural Commercial Bank went public several days ago.

The report will boost investors' confidence in the city's listed companies, said Yi Qinhua, a securities analyst. For a long time, the local government in Shaoxing has seen supporting listed companies as an important approach to upgrade the economy.