On March 22, Heyuan biology and Junpu intelligence will land on the science and innovation board. Therefore, the number of listed companies on the science and Innovation Board will exceed 400 to 401.
According to the data, since the opening of the market on July 22, 2019, the total initial fund-raising of listed companies on the science and innovation board has exceeded 560 billion yuan, and the current total market value is nearly 5 trillion yuan.
The industry believes that since the establishment of the science and innovation board and the pilot registration system, the science and innovation board has vigorously promoted institutional innovation, and a large number of “hard technology” enterprises have successfully landed on the science and innovation board to obtain financing, so as to repay the core technology and boost the high-quality development of China’s economyP align = “center” 01 p align = “center” sector’s overall net profit increased by more than 70% last year
From the perspective of growth, the overall operating revenue and net profit of the science and Innovation Board increased significantly year-on-year in 2021. In 2021, listed companies on the science and Innovation Board achieved a total operating revenue of 818434 billion yuan, a year-on-year increase of 36%; The net profit attributable to the parent company was 93.682 billion yuan, a year-on-year increase of 71%. In terms of operating revenue, nearly 90% of the companies achieved an increase in operating revenue, 112 companies achieved a revenue increase of more than 50%, and 40% of the companies had an operating revenue of more than 1 billion yuan. In terms of net profit, 90% of the companies achieved profits, nearly 70% of the companies’ net profit attributable to the parent increased, and the net profit of 55 companies doubled, with the largest increase of Beijing Hotgen Biotech Co.Ltd(688068) , an increase of more than 18 times.
2022 had a good start, with many companies increasing revenue and profits, and the performance exceeded expectations.
On March 8, Semiconductor Manufacturing International Corporation(688981) took the lead in disclosing monthly operating data. According to the announcement, the company realized an operating revenue of about US $1.223 billion from January to February, a year-on-year increase of 59.1%; The net profit was about US $309 million, a year-on-year increase of 94.9%. Both revenue and net profit showed rapid growth, and the profit growth was significantly higher than that of revenue.
As of March 21, 14 Sci-tech Innovation Board companies have successively disclosed monthly operating data and locked in the good results of the first quarter in advance The revenue and net profit of Montage Technology Co.Ltd(688008) , Shenzhen Xinyichang Technology Co.Ltd(688383) , Beijing Huafeng Test & Control Technology Co.Ltd(688200) 3 companies doubled in the first two months. In addition, Xinjiang Daqo New Energy Co.Ltd(688303) , Kede Numerical Control Co.Ltd(688305) , Farasis Energy (Gan Zhou) Co.Ltd(688567) and other companies disclosed key operating data such as shipment volume, production and sales volume, which showed that capacity expansion was proceeding in an orderly manner National Silicon Industry Group Co.Ltd(688126) , Guizhou Zhenhua E-Chem Inc(688707) , Everdisplay Optronics (Shanghai) Co.Ltd(688538) 3 unprofitable enterprises at the time of listing also predicted that the business was improving in the first two months and the loss was narrowing significantlyP align = “center” 02 p align = “center” R & D investment intensity reaches 13% on average
In the past two years since the opening of the science and innovation board, listed companies have been highly concentrated in high-tech industries and strategic emerging industries. After listing, these science and Innovation Board companies have continued to increase R & D investment. According to the third quarterly report of 2021, the total R & D investment of Kechuang board company is 37.668 billion yuan, with a year-on-year increase of 40%. The investment amount is close to the annual level of 2020, and the average R & D investment intensity reaches 13%, ranking first in all sectors of a shares.
Among the 401 listed companies on the science and innovation board, the new generation of information technology, biomedicine and high-end equipment manufacturing industries have initially formed an industrial agglomeration effect. The number of listed companies has reached 311, accounting for 78% of the total number of listed companies on the science and innovation board. 118 companies were selected into the list of “little giants” specializing in Texin, and 37 were rated as the single champion of manufacturing industry, accounting for 35% of the total number of companies listed on the science and innovation board.
The formation of agglomeration effect has played an exemplary role in opening up the upstream and downstream of the industrial chain and promoting the scale of innovation. For example, in the integrated circuit industry chain, Kechuang board has formed a whole industry chain pattern covering chip design, chip manufacturing, chip packaging testing and semiconductor equipment and materials. The number of listed companies has reached 49, accounting for half of the A-share companies in the same industry. It supports a number of leading enterprises such as Semiconductor Manufacturing International Corporation(688981) , Advanced Micro-Fabrication Equipment Inc.China(688012) , Shanghai Anlogic Infotech Co.Ltd(688107) . Among them, Advanced Micro-Fabrication Equipment Inc.China(688012) , National Silicon Industry Group Co.Ltd(688126) and other IC industry chain companies started refinancing after listing, making it better and stronger with the help of the capital market.
Another example is the biomedical industry. Among the 401 listed companies on the science and innovation board, 86 belong to the biomedical industry, accounting for 21%. In the face of the outbreak and continuous repetition of covid-19 epidemic, Kechuang board biomedical company highlights the background of hard technology and strongly supports the global anti epidemic Zhejiang Orient Gene Biotech Co.Ltd(688298) , Beijing Hotgen Biotech Co.Ltd(688068) , Sansure Biotech Inc(688289) , covid-19 test reagent products are widely exported to Europe, America, Australia and other places. At the beginning of the epidemic outbreak in 2020, Sansure Biotech Inc(688289) developed a series of scientific and technological anti epidemic products such as covid-19 nucleic acid detection reagent and “minute level” rapid nucleic acid detection equipment for the first time, and extended the “Shengxiang program” to more than 160 countries and regions around the world. Cansino Biologics Inc(688185) , a leading vaccine company, has developed the recombinant New Coronavirus vaccine (5 adenovirus vector), which has been granted China’s conditional approval and emergency use authorization in many other countries. It has become China’s first approved COVID-19 vaccine for adenovirus infection. Shanghai Junshi Biosciences Co.Ltd(688180) developed covid-19 neutralizing antibody has been authorized to Lilly for anti epidemic treatment in the United States. Covid-19 oral drug vv116 developed in cooperation has been approved for emergency use in Uzbekistan, and clinical trials have been carried out in many countries around the world. The leading API Brightgene Bio-Medical Technology Co.Ltd(688166) , which has obtained the authorization to imitate the oral drug covid-19 of MSD, can carry out the production and commercialization of covid-19 pneumonia treatment in 105 low-income countries / regions and fields such as India and Pakistan. Recently, in response to the latest national covid-19 detection strategy, covid-19 virus antigen detection kits of Nanjing Vazyme Biotech Co.Ltd(688105) , Zhejiang Orient Gene Biotech Co.Ltd(688298) , Beijing Hotgen Biotech Co.Ltd(688068) and other companies have been approved for listing. As an auxiliary and supplement to nucleic acid detection, covid-19 virus antigen detection kits further improve the ability of virus “early detection” and help the national epidemic prevention and control in critical periods.
In addition, the number of hard technology enterprises in power cells, photovoltaic and other new energy industries listed on the science and innovation board has also increased year by year, and the financing scale has increased steadily.
A number of photovoltaic leaders such as the leader of photovoltaic modules Trina Solar Co.Ltd(688599) , Jingke energy, and the leader of silicon Xinjiang Daqo New Energy Co.Ltd(688303) gathered on Kechuang board, and the number of photovoltaic enterprises on Kechuang Board reached 11. 13 “invisible champions” in the field of power battery segmentation continue to deepen technological innovation and occupy a leading position in the industry. For example, Ningbo Ronbay New Energy Technology Co.Ltd(688005) ‘s shipment of high nickel ternary cathode materials ranked first in China for four consecutive years Anhui Estone Materials Technology Co.Ltd(688733) of boehmite for lithium batteries ranks first in China and second in the worldP align = “center” 03 p align = “center” overseas sci tech innovation 50 index related products have reached 12
From the perspective of investor structure, Kechuang board has become a market dominated by professional investors. By December 2021, the trading proportion of professional investors on the science and Innovation Board was close to 90% and the shareholding reached 64%. Compared with December 2019, professional investors accounted for only 70%, achieving a significant increase. According to statistics, the number of active accounts of professional institutional investors increased by 64% year-on-year and the number of active accounts of individual investors increased by 27% year-on-year in 2021.
Kechuang 50ETF products continue to grow and are welcomed by the market. Since 2022, the fluctuation range of the secondary market has increased, but investors’ long-term expectation of the development prospect of the science and innovation board has not changed. During the market adjustment, they continue to increase their positions in the science and innovation board through the index fund. The ETF of the science and innovation board has been subscribed by a large number of funds, and the share has increased against the market. From the beginning of 2022 to the end of February, the Kechuang 50 index fell by 8.45%, while the shares of the four domestic related Kechuang 50 ETFs rose instead of falling, increased by 5 billion against the market to 32.4 billion, and the fund share increased by 18.09%. Since the release of ETF products of Kechuang 50 index, foreign capital has won a new channel for entering the market of Kechuang board, and the attraction of Kechuang board has been further highlighted. Overseas exchanges in the United States, Japan, the United Kingdom and other places have released ETF products of Kechuang board 50 index. By January 2022, there were 12 products related to the overseas sci-tech 50 index.
Sci tech Innovation Board stocks are increasingly favored by international investors. In the second quarter of 2021, the companies on the science and innovation board were included in the three major index samples for the first time, and then the number continued to expand. After just over a year, the number of companies included in the MSCI, FTSE and S & P indexes on the science and Innovation Board was 18, 36 and 24 respectively, totaling 38 and 78 times. The science and innovation board is rapidly entering the “investment basket” of international investors. The inclusion of international index institutions not only guides the inflow of foreign capital into the science and innovation board, but also is more similar to the certification certificate of global capital allocation, reflecting the continuous improvement of the global influence and attraction of the science and innovation board. On the one hand, international investors actively participate in the issuance of new shares on the science and innovation board.
By the end of November 2021, 38 foreign-funded institutions had participated in the preliminary inquiry of the primary market of the science and innovation board, of which 29 had been successfully allocated with a total amount of 774 million yuan. In terms of strategic placement, four international investment institutions participated in the strategic placement of six science and Innovation Board companies, with a total of 157 million shares and 4.484 billion yuan. In July 2020, as a strategic investor, GIC participated in the issuance of Semiconductor Manufacturing International Corporation(688981) new shares and was allocated RMB 3 billion, the largest amount of foreign capital participating in the strategic placement in Shanghai and Shenzhen markets since July 2019; Abu Dhabi Investment Bureau has participated in the strategic placement of four science and Innovation Board companies, with a total of 35.87 million shares and 864 million yuan. On the other hand, the shareholding scale of foreign-funded institutions in the secondary market continued to grow. With the further expansion of the channels for foreign investment in the science and innovation board, the scale of foreign ownership continues to increase. As of February 28, 2022, the market value of foreign capital holdings through the secondary market was 45.7 billion yuan. 107 Sci-tech Innovation Board companies are held by foreign-funded institutions, accounting for 27% of the total number of companies. On average, each company has 7 shares held by foreign-funded institutions, and 41 companies such as Advanced Micro-Fabrication Equipment Inc.China(688012) , Western Superconducting Technologies Co.Ltd(688122) have more than 10 foreign-funded institutions.
From the perspective of the types of foreign-funded institutions, they are mainly sovereign funds, pensions, asset management companies, investment banks and other types of institutional investors Nine companies, including Opt Machine Vision Tech Co.Ltd(688686) , Wave Cyber (Shanghai) Co.Ltd(688718) and other foreign-funded institutions, account for more than 10% of the circulating market value, of which Opt Machine Vision Tech Co.Ltd(688686) accounts for the highest proportion of 44.27%. The shareholding institutions include Goldman Sachs Group, Morgan Stanley and other five well-known QFII
