The disclosure of the 2021 annual report of the listed company ended. Data treasure launched the "A-share ranking list" series, which provides an all-round perspective of Chinese listed companies from the perspectives of profitability, growth ability and competitiveness. The ranking list has been launched since April 30. Please read the first article - "A-share profitability ranking list".
Overall, in 2021, the net profit of Shanghai and Shenzhen A shares exceeded 5.06 trillion yuan, with a comparable growth rate reaching a new high in the past four years the overall profitability of the market has basically returned to the level before the epidemic, and the rate of return on non diluted net assets has reached 8.68%, returning to the level in 2017 the profitability of the industry has been significantly differentiated, with food and beverage ranking first in a row. The return on net assets of basic chemical industry, coal and other industries has increased significantly, while agriculture, forestry, animal husbandry and fishery, social services, real estate, public utilities and other industries have declined significantly.
Value investor benchmark Buffett has three stock selection indicators for individual stock profitability, and the gross profit margin is higher than 40%; The net interest rate should be higher than 5%; The return on net assets is higher than 15%. Accordingly, the securities times · databao screened hard core white horses that met the above conditions for three consecutive years for readers.
food and beverage ranked first in profitability
The rate of return on net assets is an index reflecting the income level of shareholders' equity. The higher the index value, the higher the income brought by investment According to data treasure, the return on net assets of A-share listed companies was 8.68% last year, a significant increase of 1.23 percentage points over 2020, which is equivalent to the level in 2017 this data shows that the overall profitability of A-Shares has been significantly improved.
According to the ranking list of return on net assets of A-share industry released by databao, the number of industries with improved profitability is also significantly more than those with decreased profitability. The return on net assets of 22 Shenwan industries increased and 9 decreased last year The average annual net income of coal and chemical transportation increased by more than 10 percentage points compared with that of last year the rapid development of new energy industry is the main reason for the rapid increase of profitability of basic chemical industry and other sectors. The improvement of profitability of transportation, nonferrous metals, coal and other industries is mainly due to the sharp rise of shipping and metal prices.
last year, the pig cycle reached the bottom, and the profitability of the agriculture, forestry, animal husbandry and fishery industry further declined. The annual roe in 2021 fell to a negative value, close to - 26%, down 18.37 percentage points from the previous year affected by the sharp rise in coal prices, the profitability of public utilities decreased significantly, and the return on net assets decreased from more than 8% in 2020 to 1.66% last year. The profitability of the real estate industry deeply affected by regulation also decreased significantly, and the return on net assets decreased by more than 4 percentage points year-on-year last year.
The food and beverage industry is worthy of the king of non cycle, ranking first in the profitability of the industry for many consecutive years. Last year, the return on net assets was 20.57%, slightly lower than that in 2020, or mainly due to the rise in raw material prices. The ranking of basic chemical industry and coal industry soared to the second and third place, with the return on net assets of more than 15% last year.
roe top three are new faces
It is worth noting that the number of listed companies with high profitability decreased significantly compared with 2020. Last year, more than 1300 companies deducted more than 10% of non diluted net assets, and more than 1400 in the same period of 2020. The overall rise in the profitability of A-Shares is more due to the stronger profitability of large companies, highlighting the economic Matthew effect.
As far as listed companies are concerned, data treasure released the ranking list of A-share return on net assets, which shows that the top three companies with non diluted roe deducted are Beijing Hotgen Biotech Co.Ltd(688068) , Shuanghuan technology, Zhejiang Orient Gene Biotech Co.Ltd(688298) , and the return on non diluted net assets deducted last year exceeded 70%, which is also the first time that these three companies were shortlisted in the top three it is worth mentioning that Beijing Hotgen Biotech Co.Ltd(688068) and Zhejiang Orient Gene Biotech Co.Ltd(688298) have covid-19 testing business.
Among the top 50 companies on the list, basic chemicals replaced the pharmaceutical industry, with the strongest profitability and the largest number of 50 stocks, reaching 15. The pharmaceutical and biological industry ranked second, with 13 stocks selected. In addition, nonferrous metals, electronics and other sectors contributed more stocks. The profitability of most of the top 50 companies increased compared with the same period last year, and the return on non diluted net assets of Jiangsu Boxin Investing & Holdings Co.Ltd(600083) and Hubei Yihua Chemical Industry Co.Ltd(000422) deduction increased by more than 100 percentage points compared with the same period last year.
sales gross profit margin list: most pharmaceutical stocks
In addition to the return on net assets index, another index to measure the profitability of listed companies is the gross profit margin of sales the list of A-share sales gross profit margin released by databao shows that among the stocks with a revenue of more than 100 million yuan last year, the top three in terms of sales gross profit margin are Shanghai Allist Pharmaceuticals Co.Ltd(688578) -u, Zwsoft Co.Ltd(Guangzhou)(688083) , Suzhou Zelgen Biopharmaceuticals Co.Ltd(688266) -u Shanghai Allist Pharmaceuticals Co.Ltd(688578) -u ranks first with 98.94% gross profit margin.
If the revenue is not considered, Shouyao holding-u ranked first with a gross profit margin of 99.93% last year. The company said in its annual report that its products are still in the research and development stage and have not yet formed product sales. During the reporting period, the company provided R & D services with its partners. The company confirmed that the relevant R & D service revenue was 130325 million yuan, and the operating cost in the same period was only 8814 yuan. From this point of view, the company's gross profit margin does not truly and objectively reflect last year's profitability.
The pharmaceutical industry generally has the characteristics of high gross profit margin. Among the top 50 companies with strong gross profit margin, 30 stocks come from the pharmaceutical and biological industry. In addition, the asset light computer and media industries contributed 9 and 5 stocks respectively. Compared with the same period last year, the gross profit margin of most companies remained stable. Among them, the gross profit margin of Rongchang biology, Dasheng Times Cultural Investment Co.Ltd(600892) , Shanghai Allist Pharmaceuticals Co.Ltd(688578) -u and other sales increased by more than 20 percentage points.
Buffett selected the hard core white horse
There are many indicators to measure the profitability of listed companies. How to select companies with strong profitability has always been one of the most concerned topics for investors. As a benchmark of global value investment, Buffett's three most important criteria for stock selection are: the gross profit margin is higher than 40%; The net interest rate should be higher than 5%; The return on net assets is higher than 15%
According to the above indicators, databao selected A-share hard core white horse for readers. The main conditions are as follows:
1. The profitability indicators for three consecutive years meet the above profitability indicators
2. Have enough institutional endorsements and more than 10 institutional ratings
Excluding the new shares listed in recent three years, there are 34 shares in total.
In addition, considering that there is no gross profit margin on sales of financial stocks, it is sufficient to meet the return on net assets index. According to the data, Bank Of Chengdu Co.Ltd(601838) , Bank Of Ningbo Co.Ltd(002142) , China Merchants Bank Co.Ltd(600036) , New China Life Insurance Company Ltd(601336) and other stocks have deducted non diluted return on net assets of more than 13% in the past three years.
From the perspective of return on net assets, Chongqing Brewery Co.Ltd(600132) 2021's return on non diluted net assets was 65.14%, ranking first and Kweichow Moutai Co.Ltd(600519) ranking ninth list of individual stocks includes the hard core white horse in the mainstream industry, including maowulu in the food and beverage industry, Ningbo Chengdu of China Merchants Bank in the bank, Mindray Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) in medicine, Hangzhou Hikvision Digital Technology Co.Ltd(002415) in computer, etc
Market performance can also verify the hard core nature of these stocks. The average decline of 38 stocks in April was 2.77%, far lower than the decline of major indexes Chongqing Brewery Co.Ltd(600132) , Aier Eye Hospital Group Co.Ltd(300015) , Luzhou Laojiao Co.Ltd(000568) , Bank Of Chengdu Co.Ltd(601838) and other stocks rose more than 10% against the market.
