Winding up the corporate reporting period, six firms, including China Eastern Airlines Co and Shanghai Chlor Alkali Chemical Co showed their first net losses.

Most of the companies listed on the Shanghai or Shenzhen stock exchanges blamed problems on the weak domestic economy which has so far showed growth of less than the targeted level of 8.0 per cent.

The economy grew at a year-on-year 7.0 per cent during the first half though Beijing is spending heavily on infrastructure projects in the second half to help kick-start the economy.

Weak exports to Southeast Asia and competition from regional export rivals, benefiting from sharply reduced currencies, were also among the factors accounting for the poorer results.

Other currency-related problems, such as a reduced number of travellersfrom Asian countries, also affected some listed companies.

The weak results also highlighted poor management of some listed companies which were unable to adapt to outside challenges, the newspaper said.

China Eastern had a 360.365 million yuan loss in the first half compared with a net profit of 126.207 million yuan in the same period last year under domestic accounting rules.

Its loss was 33.2 million yuan under international accounting practices, and depreciation was a key reason for the big difference, company officials said.

Chlor Alkali, a company with hard currency B shares, had net losses of 71.669 million yuan in the first half against a net profit of 117.740 million yuan last year.

Other major companies reporting sharp falls in net profits included Sichuan Changhong Electric Co, China's top colour television maker, as its earnings fell more than 30 per cent year-on-year.

The weighted average earnings of listed firms on the two exchanges fell by a year-on-year 19.23 per cent, thenewspaper said.

Listed companies posted weighted average earnings of 0.105 ($0.01268) per share for the first half against 0.130 yuan in the same period last year, the newspaper said.

Seven companies posted net losses for two- and- a- half years and would be de-listed if they could not reverse losses in the second half of this year as called for under China's securities rules, the newspaper said.

Among them were Shanghai-listed SAIC Multiple Trading Co, department store Northeast Hualian Co and Anshan No 1 Construction Machinery Co, the newspaper said. All have A shares for domestic investors.

The others were Shenzhen-listed Chongqing Yugang Tioxide Co, Changsha Zhongyi Electrical Appliances Co, China Shenyang Goods & Materials Group Co and property firm Shenyang Fangtian Co, it said.

The fastest growing firm was Shanghai-listed COSCO Development, a real estate firm, whose net profits surged to 67.23 million yuan in the first half from 890,000 yuan in the same period of last year, the newspapersaid.

The next fastest rise was by Chengdu Engine Fittings Co listed in Shenzhen, whose net rose to 24.87 million yuan from 400,000 million yuan, it said.