5206,<> domestic listed companies disclosed half-year reports, nearly <>% of which achieved double growth in revenue and net profit

Reporter Zhao Xueyi and Li Qiaoyu

On September 9, the China Association of Listed Companies (hereinafter referred to as "CASCOM") released the business performance analysis report of the 1 half-year report of Chinese listed companies. Data show that as of August 2023, in addition to companies that have announced their intention to delay disclosure and delisting, a total of 8,31 listed companies in China's domestic stock market disclosed their semi-annual reports for 5206. The data shows that 2023 companies have achieved a turnaround over the previous year, and nearly 294% of the companies have achieved double growth in revenue and net profit.

Talking about the performance of domestic listed companies in the first half of the year, Tian Lihui, dean of the Financial Development Research Institute of Nankai University, told the "Securities Daily" reporter that on the whole, although the market fluctuated in the first half of the year, the overall operating conditions of many companies stabilized and rebounded in the second quarter, and the performance improved sharply month-on-month, and the trend of improvement became clearer. In the second half of the year, under the background of gradual economic recovery and gradual recovery of market confidence, the performance of listed companies in China is expected to usher in a better recovery period and recovery period. At the same time, China's listed companies also need to practice hard to achieve high-quality development.

A total revenue of 35.39 trillion yuan

According to data from the China Shanghai Association, in the first half of 2023, listed companies in the domestic stock market achieved a total operating income of 35.39 trillion yuan, a year-on-year increase of 1.61%; The net profit was 3.19 trillion yuan, down 3.38% year-on-year.

In terms of sectors, ChiNext led the half-year revenue growth rate, reaching 10.43%, and the net profit of each sector declined to varying degrees, and the net profit of the main board fell the least, 2.44%.

In terms of quarters, the revenue in the past three quarters was 19.02 trillion yuan, 17.09 trillion yuan and 18.30 trillion yuan, and the year-on-year growth rates in the first and second quarters of this year were 1.98% and 1.26%, and -10.19% and 7.11% month-on-month. The net profit in the past three quarters was 0.92 trillion yuan, 1.61 trillion yuan and 1.59 trillion yuan respectively, and the year-on-year growth rate in the first and second quarters of this year was 1.63%, -7.98%, and 74.10% and -1.15% month-on-month, reflecting the characteristics of China's economic recovery wave development and zigzag progress after the steady turn of epidemic prevention and control.

In the first half of the year, the entity listed companies achieved operating income of 30.48 trillion yuan and net profit of 1.83 trillion yuan, with a year-on-year growth rate of 3.24% and -8.84%. Gross profit margin, net sales margin and return on net assets were 6.03%, 6.00% and 4.46%, respectively, down 1.19, 0.80 and 0.86 percentage points year-on-year, and the median was 5.26%, 6.39% and 2.83%. Subject to the transmission of upstream raw material costs and insufficient downstream terminal demand, although efforts are made to reduce expenses, the phenomenon of increasing income without increasing profits of real enterprises is still prominent, and the pressure of increasing profits needs to be further relieved.

Affected by the continued sluggish demand in the international market and inflation, the overseas business revenue of entity listed companies increased by more than 1500 billion yuan year-on-year, an increase of 5.08%, slowing down. Among them, 780 overseas businesses accounted for more than 30%, an increase of 9 over the previous year.

In the first half of the year, 3296,8 listed companies controlled by natural persons achieved a total revenue of 20.7 trillion yuan, a year-on-year growth rate of 20.<>%, demonstrating resilience and restoring confidence.

170 companies

The total dividend was 2063.<> billion yuan

In the first half of the year, the comprehensive stock issuance registration system was officially implemented. There are 173 initial listings, 2872,1266 listed companies in strategic emerging industries in the whole market, and 17,50 listed companies in digital industrialization, and the market structure continues to be optimized. Normalized delisting was further consolidated, with <> companies being forced to delist in the first half of the year, plus nearly <> companies that have entered the delisting process or locked for delisting, exceeding the whole of last year and hitting a new record high.

Listed companies not only have annual cash dividends reached new highs, but also paid increasing dividends in quarterly and semi-annual reports. 170 listed companies have announced cash dividend plans for the first quarter and half year, an increase of 60 over the same period last year, with a total cash dividend of 2063.41 billion yuan. The overall dividend payout ratio of dividend companies is 36.90%, and the total half-year cash distribution of 50 companies exceeds 6% of the net profit in the first half of the year. The main board cash cattle company stable operation, high dividends show the leading style, China Mobile, PetroChina, China National Offshore Oil Corporation, Sinopec, China Ping An and China Telecom 73 companies dividend amount of more than 10 billion yuan. Private listed companies have significantly enhanced their awareness of returning investors, with dividend companies accounting for <>%, and Shuanghui Development, Zangge Mining, Longbai Group, etc. plan to distribute dividends of more than <> billion yuan.

In the first half of the year, 700 companies have implemented buybacks, totaling 3358.138 billion yuan. Shareholders of <> companies increased their holdings of their own shares, and large-scale repurchases and holdings were frequently increased. Send a positive signal to the market and drive value back.

Digital transformation of industries

Hoof steady steps

In terms of industries, the data shows that of the 18 national economic sectors to which listed companies belong, 13 industries have positive revenue growth, 10 industries have positive net profit growth, and agriculture, forestry, animal husbandry and fishery have significantly reduced losses. 29 of the 28 manufacturing industries achieved profits, the oil, coal and other fuel processing industries lost money, and the revenue and net profit of 7 major industries such as electrical machinery and equipment manufacturing, automobile manufacturing and instrument and meter manufacturing increased double.

Benefiting from the release of backlog demand and the continuous implementation of support policies, contact-based consumption such as cultural and sports entertainment, tourism, accommodation, and catering has recovered strongly. Listed companies in the tourism industry have turned around as a whole, and 14% of them have recovered or exceeded pre-epidemic levels. Net profit in home appliances, beauty care, food and beverage, and commercial retail all increased by more than <>%. The media industry also achieved strong growth in the fields of film and television cinemas, digital media, and publishing.

In the first half of the year, the demand for civil aviation, railway and road transportation rebounded rapidly, and the operation indicators continued to improve. The net profit of the transportation industry increased by 8.86% year-on-year, of which the railway and highway increased by 56.22%. The loss of the aviation and airport industry continued to decrease, with an overall loss of 600 billion yuan compared with the same period last year, and the revenue of the four major airlines has recovered to 90% of the pre-epidemic level.

"In the first half of this year, China's consumption recovered significantly, especially concentrated consumption such as catering, tourism, hotels, etc. showed rapid growth." Yang Delong, chief economist of Qianhai Open Source Fund, told the "Securities Daily" reporter that due to the base, it is expected that these industries will have significant growth in the second half of the year, which will lay a solid foundation for the sustained growth of profits of related industries and listed companies.

The industrial economy maintained a momentum of recovery, the capacity utilization rate of general equipment, special equipment, automobile and electrical machinery industries all increased, and the net profit growth rate of electrical machinery and equipment manufacturing and automobile manufacturing exceeded 25%, which played an outstanding role.

The revenue of digital industrialization companies increased by 3.89%, and the potential of digital resource elements continued to be stimulated. The digital transformation of the industry is moving steadily, and some companies said in their semi-annual reports that the effect is beginning to appear.

"In the new digital era, industrial digital transformation is an important and necessary path for listed companies to improve their performance. China's listed companies should actively carry out digital transformation based on their own business and form a new trend of innovation-driven development. Tian Lihui said.

New industries, new formats and new models show strong anti-impact ability, show a vigorous upward development trend, and become a strong support for economic stability and improvement. Benefiting from the transformation of industrial and energy structure, strategic emerging industries such as new energy vehicles continued to maintain a strong development momentum, with net profit growth of more than 25%, and high-end equipment manufacturing and other industries revenue growth of more than 10%.

The total R&D investment of listed companies in the whole market was 0.71 trillion yuan, an increase of more than 700 billion yuan year-on-year, the overall R&D intensity was 2.00%, an increase of 0.17 percentage points year-on-year, and the overall R&D intensity of the Science and Technology Innovation Board was the highest, at 11.35%. In the first half of the year, the R&D intensity of "little giants" specializing in special new "little giants" and high-tech manufacturing listed companies reached 6.84% and 7.07% respectively.

Listed companies give full play to the role of innovation as the main body, and the innovation elements accelerate the agglomeration of enterprises. By the end of June, China's listed companies had a total of 6.148 million invention patents, accounting for 7% of the total number of domestic enterprises. Among them, the listed companies of high-tech manufacturing and specialized and special new "little giant" have 57,43 and 6,8 invention patents respectively, an increase of 7.0% and 35.0% year-on-year.

The China Shanghai Association said that looking forward to the second half of the year, with the implementation of a series of highly targeted and high-value policy measures such as resuming and expanding consumption, promoting the development and growth of the private economy, and increasing the intensity of attracting foreign investment, it will certainly provide favorable conditions for boosting confidence, stabilizing expectations and achieving high-quality economic development. The high-quality development of listed companies will also inject new impetus and make new contributions to the realization of the annual economic and social development goals. (Securities Daily)