Revenue and profit of China's top 500 companies both increase R&D investment exceeds one trillion for the first time
Experts believe that large Chinese companies should complete the industrial chain jump as soon as possible
On September 28, the China Enterprise Confederation released the "2020 China Top 500 Enterprises Development Report", showing that the 2020 top 500 Chinese companies will achieve a total revenue of 86.02 trillion yuan, an increase of 6.92 trillion yuan over the previous year, a growth rate of 8.75%.
Realized a net profit of 3.89 trillion yuan, an increase of 360.319 billion yuan over the previous year, and a growth rate of 10.2%.
According to industry insiders, in recent years, the structure of my country's large enterprises has undergone significant adjustments, with a clear tendency toward service.
At the same time, corporate R&D investment has increased substantially, and R&D intensity has reached the highest level in history.
It still needs to be noted that many industries in my country are still in the low-end position of the industrial chain. During the "14th Five-Year Plan" period, large companies must lead Chinese enterprises to get out of the low-end trap as soon as possible, and as a whole to move toward the mid-to-high end of the global industrial chain Leap up.
The entry barrier continues to improve and the structure continues to adjust
The report shows that the entry barrier for the top 500 Chinese companies has been raised for 18 consecutive years.
Since the 13th Five-Year Plan, the entry threshold for the top 500 Chinese enterprises has increased by 11.615 billion yuan.
Among them, the operating income of the 500th Chinese company in 2020 is 35.961 billion yuan, an increase of 3.636 billion yuan compared with 2019, and the added value has achieved a substantial increase over the previous year, reversing the value added in the previous two years There is a downward trend.
At the same time, the 100 billion club has accelerated its expansion, and trillion enterprises have added new members.
The report shows that among the top 500 Chinese companies in 2020, the number of companies with operating income exceeding 100 billion yuan has increased to 217, a net increase of 23.
In addition, after the revenue of China Construction Bank and Agricultural Bank of China exceeded one trillion yuan, there are already eight enterprises in my country with revenue exceeding one trillion yuan.
It is worth noting that although revenue and total profit have both increased, judging from the growth rate of multiple key indicators, the growth rate of multiple indicators of the top 500 Chinese companies during the 13th Five-Year Plan period has declined.
In this regard, Gao Rui, deputy director of the Economic Research Department of the China Enterprise Confederation, said that the reasons for the decline in the scale of top 500 companies and other indicators are on the one hand related to my country’s overall economic growth, and on the other hand, it is based on a huge base. It is difficult to achieve the growth rate of more than 20% in the past.
But from the other side, we should see that the "quality" of 2020 China's top 500 companies has improved significantly.
The profitability of non-bank companies continued to improve, and the profit gap with commercial banks was further narrowed.
The report shows that among the top 500 Chinese companies in 2020, there are 482 non-bank companies and 18 commercial banks.
The profit margin of 482 non-bank companies was 3.1%, an increase of 0.24 percentage points from the top 500 in 2019, and the profit margin of net assets was 8.74%, an increase of 0.4 percentage points from the top 500 in 2019.
Gao Rui believes that the industry structure of the top 500 companies has been continuously optimized, and the gap in corporate profit distribution has gradually narrowed.
Taking the service industry as an example, the number of finalists in traditional retail and transportation continues to decline, and modern service companies such as Internet services, finance, and supply chain are rising rapidly.
The profit contribution of banks has fallen from 61.5% to 49.55% in the four years since the 13th Five-Year Plan.
The non-banking service industry continued to improve.
R&D investment exceeds one trillion for the first time, the development trend of service-oriented development appears
The R&D investment of the top 500 Chinese companies in 2020 will continue to increase, and the R&D intensity of more than half of the companies has increased.
The total R&D investment is equivalent to 63.55% of the national enterprise R&D expenditure; R&D intensity has reached the highest level in history, reaching 1.61%.
Specifically, among the 431 Top 500 Chinese Enterprises in 2020 that provide R&D data, the total investment in R&D expenses totaled 1.075.406 billion yuan, an increase of 98.858 billion yuan over the previous year, an increase of 10.12%; if compared with the same caliber enterprises last year, the increase was 17%. .
It is worth mentioning that this is the first time that the R&D investment of my country's top 500 companies has exceeded one trillion yuan.
From the perspective of Zhanxin business, profitability is stronger than other businesses.
Among the top 500 Chinese companies in 2020, 208 companies have declared relevant data on new businesses.
Specifically, although the total assets of these 208 companies are 10.16 trillion yuan, accounting for 14.64% of the total assets of the company, they have achieved a total of 5.33 trillion yuan in business revenue, equivalent to 16.07% of the company's total business income; Zhanxin's profit is 405.646 billion yuan, accounting for 22.35% of the total profit of the enterprise.
Gao Rui said that the new businesses of enterprises and new businesses clearly show the characteristics of light assets, most of which can create more operating income and total profits with relatively few assets, which further demonstrates the significance of innovation.
It is worth mentioning that the report shows that the service-oriented development trend of China’s top 500 companies has steadily strengthened. During the "13th Five-Year Plan" period, the top 500 Chinese manufacturing companies have been shortlisted for an average of 245 companies and 175 service companies, respectively There will be a decrease of 20 and an increase of 23 during the second five-year plan period.
Gao Rui said that as companies in the financial, supply chain services, Internet information services and other industries have become stronger, the number of companies in these industries has risen from 59 in 2006 to 130, and their proportion has increased from 11.80% to 26%.
Take Internet service companies as an example. In 2006, only 6 Internet service companies were shortlisted. In 2020, the list has expanded to 22, and the number has increased significantly.
"Although there has been an increase in service industry companies, there is still a lot of room for growth." Gao Rui said that compared with the top 500 in the US, which is dominated by services, the top 500 in my country is still dominated by manufacturing.
Get out of the low-end trap and accelerate the layout of the high-end industrial chain
"The traditional industries of my country's listed companies are relatively high, but developed countries such as the United States, Japan and Europe have obvious advantages in high-end manufacturing." Compared with the international advanced level, there is still a big gap in terms of rights and independent intellectual property rights.
Wang Zhongyu pointed out that enterprises will shift from the path of scale expansion to the path of efficiency and quality. The development of 5G and related technologies will accelerate the evolution of the industrial structure, and the pressure on the transformation and elimination of traditional industries will further increase.
"In addition, industrial relations and industrial ecosystems are becoming increasingly important, and the overall cycle of industrial chains and supply chains will have a more prominent impact on the sustainable development of enterprises." Wang Zhongyu said.
Wang Zhongyu said frankly that the current shortcoming in my country is that Chinese enterprises are generally in the low-end position in the value chain of the industrial chain, and for a long time in the past, many industries have been in a de facto low-end locked state.
During the "14th Five-Year Plan" period, large companies must lead Chinese companies to get out of the low-end lock-in trap as soon as possible, and as a whole leap to the mid-to-high end of the global industrial value chain.
Xu Kemin, Director of the Department of Industrial Policies and Regulations of the Ministry of Industry and Information Technology, said that the current domestic and international situation is severe and complex, and the world is undergoing unprecedented changes in a century, bringing risks and challenges to the smooth operation of my country's economy and society.
In the next step, Fortune 500 companies should focus on industry as their main business and enhance the ability of the industry chain to resist risks.
(Reporter Liang Qian)