A year ago today, three enterprises sounded the bell of listing at the same time, announcing the formal implementation of the merger of Shenzhen main board and small and medium-sized board. This is not only the “glorious retirement” of the small and medium-sized board after 17 years of exploration, but also the “Nirvana rebirth” of the Shenzhen main board after 21 years.
Over the past year, the positioning of various sectors in Shenzhen has been clearer and the market structure has been more perfect. At present, there are 1493 main board Companies in Shenzhen, with a market value of more than 22 trillion yuan. Shenzhen has formed a market pattern with the main board and gem as the main body. Shenzhen main board is positioned in the blue chip market, focusing on supporting relatively mature enterprise financing development, excellence and strength; The gem mainly serves high-tech enterprises and growth innovation and entrepreneurship enterprises, highlighting “three innovations” and “four innovations”.
Over the past year, the leading aggregation effect of the main board has been more significant, and the momentum of scientific and technological innovation has been more abundant. By the end of March, there were 36 companies with a market value of more than 100 billion yuan on the main board and 47 leading science and technology enterprises, occupying an important position in the global industrial chain of many industries such as construction machinery, laser equipment, panel, security equipment, intelligent voice, household appliances and green energy.
Over the past year, the motherboard has supported transformation and upgrading more effectively and served the real economy more efficiently. Since the merger, the main board company has continuously supported service scientific and technological innovation and industrial upgrading through a variety of refinancing methods. The refinancing amount of manufacturing enterprises reached 219.9 billion yuan, accounting for nearly 70%, injecting strong impetus into high-quality economic development.
show strength
On March 18, kangguan technology, China’s leading intelligent display, was listed on the Shenzhen main board, raising 2.075 billion yuan, which will be used for kangguan intelligent display terminal product expansion project, commercial display product expansion project, headquarters building and R & D and test center project, which will strongly support the company to further consolidate its industry position and enhance its competitive advantage.
This is the epitome of Shenzhen main board company landing in the capital market by taking the east wind of reform. Since the merger of the two boards, 28 enterprises have landed on the main board through IPO, raising a total of more than 23 billion yuan. After 21 years, the main board of Shenzhen Stock Exchange has resumed the function of issuing and listing, and the market is more inclusive. It can support the listing and development of high-quality enterprises in a wider range, with greater strength and efficiency, provide enterprises with all-round financing services, and promote the creation of a group of listed companies that reflect the requirements of high-quality development.
After the merger of the two boards, the Shenzhen main board is positioned in the blue chip market, focusing on supporting the financing development, excellence and strength of relatively mature enterprises; The gem mainly serves high-tech enterprises and growth innovation and entrepreneurship enterprises, highlighting “three innovations” and “four innovations”.
“The merger of the two boards is an important measure to comprehensively deepen the reform of the capital market. On the one hand, it is conducive to optimizing the sector structure of the Shenzhen Stock Exchange and forming a development pattern in which the main board and the gem focus on each other and complement each other; on the other hand, it is conducive to better meet the financing needs of enterprise development at different stages and enhance the financing function of the Shenzhen Stock Exchange.” Haima Automobile Co.Ltd(000572) chairman Jing Zhu said.
After the merger of the two boards, the development foundation of the main board becomes stronger and stronger. In terms of performance, Shenzhen main board company has maintained strong toughness under the complex economic situation outside China, and its performance has maintained stable growth as a whole. As of the end of March, 1152 companies have disclosed annual report performance or performance forecast data, and are expected to achieve an average net profit of 472 million yuan to 535 million yuan.
The performance of Shenzhen main board manufacturing industry is particularly bright. By the end of March, there were 981 main board manufacturing companies, accounting for 65.71%, which had built the “basic sector” of the sector and laid the foundation for the development and growth of the main board. Among them, there are both more traditional basic manufacturing companies and leading advanced manufacturing companies in the industry, which jointly drive the technological innovation and industrial agglomeration of the upstream and downstream industrial chain, promote the overall progress of the industrial chain and inject more vitality into the economy.
release high vitality
The Shenzhen main board continued to support listed companies to make use of the capital market to become better and stronger, and promoted a large number of companies to grow into high-quality blue chip enterprises through deep cultivation of their main business, diversified development, accelerated transformation and integrated development. After the merger of the two boards, the strength of the main board of Shenzhen stock market has been continuously strengthened and released its vigorous development vitality.
By the end of March, there were 36 companies with a market value of more than 100 billion yuan on the main board, 131 leading enterprises in the industry, and 47 leading enterprises in science and technology. They occupied an important position in the global industrial chain of many industries, such as engineering machinery, laser equipment, panel, security equipment, intelligent voice, household appliances, green energy and so on.
Scientific and technological innovation is the Beijing Dynamic Power Co.Ltd(600405) spring of development. Shenzhen main board actively serves the national innovation driven development strategy, establishes a whole chain scientific and technological innovation service system, and vigorously supports the development of scientific and technological enterprises. By the end of March, there were 917 high-tech enterprises in the main board companies, accounting for more than 60%; There are 430 strategic emerging industry enterprises, accounting for nearly 30%.
At present, there are 750 entrepreneurs in the main board companies with core patented technologies related to their main products, accounting for more than 50%, with a total of 40400 of the above-mentioned core patented technologies. There are 293 entrepreneurs in the national Torch Program, 81 entrepreneurs in the National 863 program, 113 entrepreneurs supported by the national innovation fund and 41 national innovative pilot entrepreneurs.
The R & D investment of Shenzhen main board company has increased significantly for five consecutive years (20162020), with an average annual compound growth rate of 16.66%. According to the annual report data of 2021 disclosed before March 31, the total R & D expenditure of the main board company is 169333 billion yuan.
At the same time, Shenzhen main board actively supports listed companies to continuously explore and optimize their own industrial structure by means of refinancing, M & A and reorganization, so as to provide momentum for high-quality development. Since the merger, the main board company has implemented a total of 166 refinancing orders, with a total financing amount of 329988 billion yuan. The main board company continuously supports service scientific and technological innovation and industrial upgrading through a variety of refinancing methods.
Newland Digital Technology Co.Ltd(000997) chairman and general manager Wang Jing said: “as a scientific and technological innovation enterprise, the company was listed on the main board of Shenzhen Stock Exchange in 2000. The company has adhered to industry for a long time. After the merger of the main board and small and medium-sized board, it will focus on promoting the transformation and upgrading of traditional industries, which will better serve the real economy and have positive significance for the company to make better use of capital tools and accelerate the development of enterprises in the direction of digitization.”
looking forward to new power
It not only serves as a good foundation for deepening the reform of the capital market, but also serves as a good foundation for the continuous reform of the capital market.
From the perspective of regulatory system, the Shenzhen Stock Exchange vigorously promotes the integration and optimization of the rule system, focusing on the revision of stock listing rules, and promotes the revision of self-discipline regulatory guidelines and guidelines. After the integration, the number of rules has been greatly simplified, from 132 to 36, a decrease of more than 70%; The system is concise and clear, and the “three-tier” system of listing rules, guidelines and guidelines is more complete and easier to master and use, so as to build a more concise, friendly, mature, stereotyped, easy to read and understand rule system.
At the same time, Shenzhen Stock Exchange enriches the supply of industry information disclosure system. The merged Shenzhen Main Board continues to fully implement industry supervision, better continue the existing industry supervision experience, deeply tap the industry operation characteristics and laws, fully serve the differentiated development needs of enterprises, and continuously improve the effectiveness and pertinence of information disclosure.
Analysts pointed out that since the implementation of the merger of the two boards, a series of institutional rules of the Shenzhen main board have operated effectively, and the overall operation of the market is stable and in line with market expectations. The market generally believes that the merger of the two boards is the practical need to comply with the law of market development and the internal requirement of building a concise and clear market system, which has further consolidated the market foundation for the full implementation of the registration system and enhanced the confidence of comprehensively deepening the reform of the capital market.
The reporter of China Securities Journal learned that at present, the Shenzhen stock exchange is promoting various reforms in accordance with the deployment of the CSRC. It is believed that with the full implementation of the stock issuance registration system, the capital market will accelerate into a new stage of high-quality development, further promote the high-level cycle of science and technology, capital and real economy, and effectively improve the sense of gain of market participants.
