Listed companies in Shanghai and Shenzhen have successively disclosed their 2022 annual reports. The data shows that in the face of the impact of multiple factors exceeding expectations at home and abroad, the production and operation of listed companies are stable and improving, and the status of the "basic plate" of the real economy has been continuously consolidated.
The overall performance grew steadily
As the "leading geese" of the real economy, the performance of listed companies reflects the trend of economic development. "Listed companies are an important force for economic development, promote steady economic development, and strengthen China's strategic emerging industries and scientific and technological innovation forces." Tian Lihui, vice president of Guangxi University, said.
According to the annual report, the main board of Shanghai achieved a total operating income of 50.55 trillion yuan, a year-on-year increase of 6%; net profit of 4.16 trillion yuan, a year-on-year increase of 2%; Net profit after deduction was 3.95 trillion yuan, a year-on-year increase of 3%. Listed companies in the entity category showed a better momentum of high-quality development, with a total operating income of 41.25 trillion yuan, a net profit of 1.9 trillion yuan, and a net profit of 1.7 trillion yuan after deduction, an increase of 8%, 3% and 5% respectively year-on-year; The net operating cash inflow was 3.91 trillion yuan, a year-on-year increase of 2%, covering twice the profit scale, reflecting strong operating hematopoietic capacity.
Shenzhen companies achieved a total operating income of 20 trillion yuan, a year-on-year increase of 7%, and nearly 3% of the company's revenue grew positively. Under the circumstances of the decline in the growth momentum of the global economy and foreign trade, the overseas business revenue reached 4.19 trillion yuan, a year-on-year increase of 2.<>%, showing strong resilience.
According to data from the Science and Technology Innovation Board, in 2022, the number of companies in the sector will exceed 500, the overall operating income will exceed one trillion yuan for the first time, the net profit will exceed <> billion yuan for the first time, and the R&D investment will exceed <> billion yuan for the first time, initially showing the vitality and resilience of "hard technology" enterprises.
In 2022, the number of listed companies on ChiNext will exceed 1200,12, with a total market value of more than 20 trillion yuan. In the face of the complex and changeable market environment, the operating performance of the sector companies maintained rapid growth, with annual revenue and net profit increasing by 4.11% and <>% year-on-year, respectively, nearly <>% of the company's revenue achieved positive growth, and nearly <>% of the companies achieved profit.
R&D drives enterprise development
R&D is the core internal driving force of enterprise development. Last year, listed companies increased investment in research and development, and a number of leading companies with outstanding scientific and technological strength achieved a rise in market value.
At present, the main board of Shanghai has a net increase of 1 and 3 companies with a listing value of 8 billion yuan in the past 28 year and 81 companies in the past 184 years, and 3 and 17 companies with a listed value of 33 billion yuan respectively. Among them, the market value of advanced manufacturing and modern service industries represented by power equipment, national defense industry, medicine and biology has increased significantly, and the number of companies with a market value of 38 billion yuan has increased from <> to <> in the past three years, and the proportion has increased to <>%.
Cheng Fengchao, a member of the Academic Advisory Committee of the China Association of Listed Companies, said that the 2022 annual report shows that the total R&D investment of listed companies in the whole market was 1.66 trillion yuan, an increase of 0.27 trillion yuan over the previous year, and the average R&D intensity was 2.32%, an increase of 0.25 percentage points year-on-year. In terms of industries, R&D investment in pharmaceutical biology (41.96%), computer (17.88%), national defense industry (11.83%), communication (9.97%) and other industries was relatively high; In terms of regions, the regions with higher R&D investment are Beijing (38.52%), Shanghai (32.25%), and Tianjin (9.47%).
The total R&D investment of entities on the main board of Shanghai was 8412.18 billion yuan, a year-on-year increase of 19%. Among them, 96 companies such as China State Construction, PetroChina, China Mobile, CRRC and Great Wall Motor have invested more than 10 billion yuan in R&D, and 6633 companies have a R&D intensity of more than 7%. Shenzhen companies invested a total of 15.3 billion yuan in R&D, a year-on-year increase of 5%; R&D intensity was 0.2%, an increase of 107.10 percentage points over the previous year. Among them, 6 companies invested more than 100 billion yuan, and 128 companies such as ZTE, BYD, CATL and TCL Technology invested more than 500 billion yuan. At the same time, the Shenzhen company has more than <>.<> million R&D personnel, with an average of more than <> people per company, and the talent gathering has achieved remarkable results.
Experts said that large R&D investment has brought good market performance to related companies. As of the end of last year, the average price-to-earnings ratio and price-to-book ratio of companies with R&D investment of more than 1 million yuan and R&D intensity of more than 5% reached 46 times and 3.59 times respectively, higher than the average valuation levels of 36 times and 3.15 times of other companies, and R&D innovation strength has become a key factor supporting the market value of enterprises. As R&D funds continue to pour into the new economy and new industries, a series of technological breakthroughs have been made. Last year, nearly seventy percent of the R&D funds in Shenzhen were invested in advanced manufacturing, digital economy, and green and low-carbon areas, of which investment in new energy vehicles, new energy equipment and biotechnology grew rapidly, up 67.9%, 32.1% and 19.6% year-on-year, respectively.
"Scientific and technological innovation is a powerful driving force for high-quality development. To accelerate the realization of high-level scientific and technological self-reliance and self-improvement, we must strengthen the main position of enterprise scientific and technological innovation. Cheng Fengchao said that taking listed enterprises as the main body of innovation is conducive to promoting economic development, enhancing national competitiveness, promoting industrial transformation and upgrading, and promoting the deep integration of science and technology and the economy.
Experts said that with the deepening of scientific and technological research and development of listed companies, industrial transformation and upgrading have accelerated, and emerging momentum has been increasing. On the one hand, digital and intelligent transformation has accelerated, the 5G penetration rate of mobile users of the three major operators has exceeded 60%, and cloud service revenue has doubled year-on-year, providing technical support for industrial digitalization. On the other hand, new technologies continue to emerge, for example, CNOOC completed the application of China's first deepwater underwater oil and gas production system last year, achieving key technological breakthroughs in the field of deep-sea oil and gas development and breaking the technological monopoly of overseas enterprises.
The efficiency of the whole industry chain has risen
Promoting the optimization and upgrading of the industrial chain and supply chain is an urgent need to build a new development pattern. Last year, listed companies put the enhancement of the resilience and competitiveness of the industrial chain in a more important position, and actively made efforts to build an independent, controllable, safe and efficient industrial chain and supply chain.
"The main board of Shanghai and Shenzhen has brought together a group of high-quality blue-chip enterprises with industry representatives, which has effectively driven the coordinated development of the upstream and downstream of the relevant industrial chain. Taking new infrastructure as an example, the new infrastructure represented by 5G, UHV, intercity high-speed railway and rail transit is connected with huge investment and demand, and the upgrading consumer market on the other, and gradually becomes a new engine of economic growth. Chen Yi, chief economist of Sichuan Finance Securities, said.
The three major communication operation companies of the main board of Shanghai take 5G base stations as the base point and radiate the local mobile communication industry chain with integrity and competitiveness from system equipment to mobile phone chips to terminal equipment, with a total net profit growth rate of 12%. In the UHV industry chain, Guodian Narui, China XDIAN, Pinggao Electric and Sifang Co., Ltd. and other companies have intensively cultivated the main core components and components, and their net profits increased by 14%, 14%, 200% and 20% respectively year-on-year. Benefiting from the accelerated layout of the new energy pattern, the main board company of Shanghai has achieved full coverage of all links of the industrial chain from upstream and midstream photovoltaic equipment to downstream photovoltaic power generation enterprises. The total annual power generation capacity of major photovoltaic power generation companies was about 507.45 billion kWh, a year-on-year increase of 81%, driving the performance of the entire industry chain to climb, and the overall revenue and net profit of the industry chain increased by 102% and <>% respectively.
The Science and Technology Innovation Board continues to build a "little giant" matrix and accelerate the cultivation of hidden champions in subdivided fields. Up to now, a total of 256 STAR Board companies have been selected into the national directory of specialized and special new "Little Giant" enterprises, 35 STAR Board companies have been rated as "Single Champion Demonstration Enterprises" in the manufacturing industry, and 35 STAR Board companies have been rated as "Single Champion Products", accounting for 55% of the total number of listed companies on the STAR Board. The revenue scale of the above-mentioned enterprises grew rapidly last year, with a total operating income of 7137.54 billion yuan, a year-on-year increase of 35%; In total, the net profit attributable to the parent was 681.87 billion yuan, and the net profit of 48 companies increased by more than 50%. "Little Giant" enterprises practice innovation-driven development strategy, focus on the strong chain of the industrial chain to supplement the chain extension chain, Anji Technology, Green Harmonics and many other companies have achieved major breakthroughs in the autonomy of key links, effectively promoting the optimization and upgrading of China's industrial chain supply chain. (Economic Daily reporter Peng Jiang)