The annual reports of listed companies have been disclosed one after another, and private enterprises in Shenzhen have become a bright color. As of March 17, 303 private enterprises in Shenzhen had disclosed their annual reports or performance letters. Their operating revenue had increased by 39% year-on-year and their net profit had increased by nearly 27% year-on-year.
Shenzhen stock market has become a gathering place of high-quality private enterprises. As of March 17, 1786 private enterprises had been listed on the Shenzhen Stock Exchange, accounting for nearly 70% of the total number of Companies in the Shenzhen Stock Exchange; The total market value exceeds 20 trillion yuan, accounting for nearly 60% of the total market value of Shenzhen; Among the private enterprises in Shenzhen, every five private enterprises in Shenzhen can run a “horse” with a market value of 10 billion, galloping in the fields of implementing innovation driven strategy and helping double circulation.
strategic emerging industries booming
At present, a large number of leading enterprises have emerged in private enterprises in Shenzhen. As of March 17, there were 399 private listed companies in Shenzhen, with a market value of more than 10 billion yuan, accounting for 22.34% of the total number of private enterprises, including 345 with a market value of 10 billion yuan to 50 billion yuan, 34 with a market value of 50 billion yuan to 100 billion yuan and 20 with a market value of more than 100 billion yuan Contemporary Amperex Technology Co.Limited(300750) ranks first with a market value of 1.22 trillion yuan.
Guided by high-quality technology and supported by high research and development, innovation has become the background color of private enterprises in Shenzhen Betta Pharmaceuticals Co.Ltd(300558) in recent three years, the R & D expenditure has exceeded 2 billion yuan, and the average annual R & D intensity has exceeded 40%. The company’s self-developed ektinib has become the first small molecule targeted anticancer drug with independent intellectual property rights in China Ganfeng Lithium Co.Ltd(002460) products cover more than 40 kinds of products in five series, including metal lithium, lithium carbonate, lithium hydroxide, butyl lithium and lithium-ion batteries, which are called “global lithium supermarket” by overseas lithium peers Byd Company Limited(002594) has the world’s leading core technologies of battery, motor, electronic control and whole vehicle, as well as the world’s first dual-mode technology and bidirectional inverter technology.
Industry innovation leaders are more than that. Among the private enterprises in Shenzhen, there are 766 strategic emerging industry companies and 164 specialized new listed companies.
The vigorous development of strategic emerging industry companies has brought demonstration and leading effect to the group of listed companies. The data show that 766 private listed companies in strategic emerging industries represented by “three innovations and four innovations” in Shenzhen achieved a net profit of 132058 billion yuan in 2020, with an average net profit of 172 million yuan, a year-on-year increase of 82.98%. Among them, the number of new generation information technology, high-end equipment manufacturing and new materials companies is the largest, with 261, 127 and 119 respectively, accounting for 66.19% in total; The average net profit of digital creativity, new energy, new energy vehicles and biological industry in 2020 was the largest, with 561 million yuan, 552 million yuan and 354 million yuan respectively, with a year-on-year increase of 619.23%, 656.16% and 73.53%.
For future performance growth, the representatives of the interviewed companies are full of confidence. “The development trend of the company continued to improve in the first quarter. The market demand for lithium hexafluorophosphate, the core product of the new materials business segment, was strong. With the new production capacity gradually reaching the production capacity, the profitability will be greatly improved, and the year-on-year growth of the annual operating performance will be more optimistic.” Do-Fluoride New Materials Co.Ltd(002407) vice chairman Li Lingyun said.
smooth financing to release market vitality
The vigorous growth of enterprises is inseparable from the “living water” irrigation of the capital market. Analysts said that private enterprises have made full use of refinancing tools to strengthen scientific and technological innovation, improve the level of risk prevention and control, enhance the ability of sustainable development and serve the high-quality development of the national economy, which has become the most important and dynamic part of the refinancing market in Shenzhen.
According to the data, the IPO Financing of 1786 private enterprises in Shenzhen totaled 1.51 trillion yuan, of which the IPO Financing of private enterprises in Shenzhen totaled 180148 billion yuan since 2021.
Benefiting from the implementation and stable operation of reform measures such as the reform of the gem and the pilot registration system, the merger of the main board and the small and medium-sized board, the vitality of the refinancing market in Shenzhen continued to release. Since 2021, Shenzhen companies have refinanced 420 times, with a total amount of 577073 billion yuan. Among them, private enterprises have refinanced 318 times, accounting for 76%; The financing amount was 360679 billion yuan, accounting for 63%.
The work of “living water” lies not only in strong power, but also in precision irrigation. Private enterprises in Shenzhen make full use of refinancing tools to continuously deepen scientific and technological innovation and industrial upgrading.
The flow of “living water” to scientific and technological innovation will help key areas to take off. Since 2021, in response to major national strategies and industrial policies, Shenzhen company has been active in refinancing in advanced manufacturing, TMT, carbon neutrality and other related fields. Among them, the electronics, computer, communication and other industries have implemented and completed refinancing for 80 times, with a financing amount of 94.789 billion yuan, which is mainly used to expand and improve the business product system and increase investment in scientific and technological research and development; The biomedical industry has completed 30 refinancing times, with a financing amount of 24.48 billion yuan, invested in cutting-edge technology and expanded production capacity demand; In the electrical, power, environmental protection and other industries in the related fields of “carbon neutralization”, a total of 29 refinancings were completed, with a financing amount of 35.628 billion yuan, so as to further optimize the capital structure and expand production capacity.
Moreover, nearly three of the companies that have completed the implementation of refinancing have become private enterprises with a market value of less than 5 billion yuan. Refinancing can effectively alleviate the problem of difficult and expensive financing of small and medium-sized private enterprises Naipu Mining Machinery Co.Ltd(300818) is one of the typical cases. Its convertible bond financing scheme takes only seven months from its launch to its completion.
M & A accelerates industrial integration
M & A is a powerful tool for listed companies to become bigger and stronger. Private enterprises in Shenzhen actively use mergers and acquisitions to implement transformation and upgrading, peel off inferior assets and achieve excellence and strength.
Shenzhen private enterprises first disclosed 60 restructuring plans in 2021, involving a transaction amount of 48.394 billion yuan; Among them, 38 were asset acquisitions, involving a transaction amount of 37.943 billion yuan, and 22 were asset sales, involving a transaction amount of 10.45 billion yuan.
Domestic mergers and acquisitions and industrial integration, and the valuation is more rational. From the perspective of M & A regions, 36 of the 38 asset acquisition cases are domestic M & A, and nearly 60% of the transactions are for horizontal integration or strategic cooperation. Domestic private enterprises have an obvious momentum to become bigger and stronger.
Taking Jiangsu Eastern Shenghong Co.Ltd(000301) as an example, the company improves the industrial layout by placing high-quality chemical assets Jiangsu Eastern Shenghong Co.Ltd(000301) last April, it announced that it planned to purchase the equity of sierbang and completed the industrial and commercial registration procedures for the equity transfer of sierbang at the end of December. “After the reorganization, the listed companies quickly cut into new fields, increased diversified petrochemical, new energy and new material chemicals, and formed a diversified industrial chain of core raw material platform + new energy, new materials, electronic chemistry and biotechnology, that is, a 1 + n business pattern.” Jiangsu Eastern Shenghong Co.Ltd(000301) Board Secretary Wang Jun said that Sri Lanka’s shareholders promised that the net profit attributable to the parent company after deducting non recurring profits and losses in the next three years would not be less than 5.1 billion yuan. At the same time, Sri Lanka will become an important platform for listed companies in the field of new energy and new materials, which is conducive to significantly improving the development potential and core competitiveness of listed companies.
