As of April 30, 89 listed companies of the Beijing stock exchange (hereinafter referred to as the “Beijing stock exchange”) and 6061 listed companies of the new third board have disclosed the annual performance report of 2021. Data show that the overall vitality and development toughness of listed and listed small and medium-sized enterprises are increasing.
In 2021, 89 companies listed on the Beijing stock exchange achieved a total operating revenue of 66.89 billion yuan, a year-on-year increase of 31.1%; The net profit was 7.25 billion yuan, a year-on-year increase of 23.8%; The median net profit was 46.29 million yuan. 88 listed companies achieved profits in 2021, with a profit margin of 99%.
90.73% of the enterprises listed on the new third board disclosed their annual reports on time, and their performance showed stable growth. In 2021, the listed companies that disclosed the annual report achieved a total operating revenue of 1457331 billion yuan, a year-on-year increase of 17.31%; The net profit in 2019 was RMB 606.08 billion, a year-on-year increase of 14.08%. More than 70% of the new third board companies achieved profits, and more than 50% of the companies achieved net profit growth.
the profitability of Beijing stock exchange company continues to increase
The epidemic situation, the rise in commodity prices and other factors have had an impact on the economy, and the production and operation of small and medium-sized enterprises have been under great pressure. In this context, the direct financing of the capital market and the improvement of the company’s management efficiency provide a guarantee for the business recovery.
According to the data, among the 89 listed companies on the Beijing stock exchange, the net profit of 54 listed companies increased year-on-year, the net profit of 17 companies increased by more than 30%, and the companies with a net profit of more than 50 million yuan accounted for nearly half.
In terms of revenue, the revenue of 73 companies increased year-on-year last year, accounting for 82%. Among them, the revenue of Jiaxian shares and beiteri increased by 232.4% and 135.7% respectively year-on-year last year, and the revenue of 19 companies, including Changhong energy and Gaishi food, increased by more than 30%.
From the perspective of profitability, the profits of 55 companies increased year-on-year last year, accounting for 62%. Among them, the net profit growth of four companies, including beiteri, Jilin Carbon Valley, Jiaxian shares and jingsai technology, has more than doubled. Meanwhile, 71 companies made a profit of more than 30 million yuan, accounting for 80%. Among them, there are nine companies with a profit of more than 100 million yuan. Beiteri, Yingtai biology and Tongli ranked among the top three with a profit of 1.441 billion yuan, 481 million yuan and 370 million yuan respectively.
As the main position of service innovative small and medium-sized enterprises, the Beijing stock exchange has gathered a large number of “specialized and special new” enterprises. The input of technology, talents and other factors has become the guarantee for small and medium-sized enterprises to improve their core competitiveness and performance. According to the data, in 2021, the R & D expenditure of listed companies on the Beijing stock exchange totaled 3.04 billion yuan, and the R & D intensity reached 4.7%, which was 3.3 times the average level of Enterprises above designated size.
With good performance support, while disclosing their annual reports, many companies of the Beijing stock exchange disclosed their annual distribution plans for 2021 and distributed cash “red envelopes” to investors.
According to the statistics of the Beijing stock exchange, more than 80% of the companies of the Beijing stock exchange have issued a cash dividend plan, and the proposed dividend amount is 1.95 billion yuan, an increase of 11.2% year-on-year; The cash dividend rate of 34 companies exceeds 40%.
public funds actively participate in the investment of Beijing stock exchange
With the improvement of performance, the company of Beijing stock exchange is receiving the attention of more and more institutional investors represented by public funds.
According to the statistics of Shenwan Hongyuan Group Co.Ltd(000166) Research Report, by the end of 2021, a total of 101 public offering products had held shares in the Beijing stock exchange, an increase of 95 month on month; From the perspective of the fund’s annual report, the market value of the fund’s shareholding in the Beijing stock exchange company is 3.827 billion yuan. As the eight theme funds of the Beijing stock exchange have not yet disclosed their annual reports, considering the impact of the stock market adjustment this year, it is roughly estimated that the market value of the positions of public funds is 4 billion yuan to 5 billion yuan, accounting for 2% to 3% of the market value of the Beijing stock exchange.
From the perspective of the types of public funds held, 8 are the theme funds of the Beijing stock exchange, 86 are stock public offering products, and 7 are selected layer theme funds.
According to Shenwan Hongyuan Group Co.Ltd(000166) statistics, the allocation proportion of the original seven selected layer theme funds has increased. By the end of 2021, the market value of their positions was 936 million yuan, and the allocation proportion was 10.5%. In the second half of last year, 86 stock products entered the Beijing stock exchange for investment, with a market value of 2.891 billion yuan by the end of 2021.
From the perspective of the target companies held by the fund, industry leading companies are particularly favored by institutions. By the end of 2021, 52 funds had invested in beiteri, with a total of 11.21 million shares; The number of shares held by Northland and Xin’an Jie at the end of the period reached 9.3962 million shares and 8.8523 million shares respectively.
Some market participants said that combined with the position performance of public funds in the first quarterly report of this year, at present, many of the eight theme funds of the Beijing stock exchange still hold a low proportion of shares of the Beijing stock exchange. Therefore, these funds have the demand to increase their positions in the shares of the Beijing stock exchange before the six-month position building deadline as of May 23. The head enterprises of the Beijing stock exchange are more likely to become the subject of key position increase.
Shenwan Hongyuan Group Co.Ltd(000166) research report believes that the stock positions of the Beijing stock exchange of public funds are highly concentrated, and the coverage needs to be improved. From the perspective of capital sources, the entry of stock products will contribute considerable investable funds, but the entry enthusiasm of public funds is related to the market profit-making effect, the number of bids and liquidity. With the acceleration of new share issuance and macroeconomic improvement in the second half of the year, it is expected that the willingness of institutional allocation will be improved.
the “reserve force” of Beijing stock exchange has full potential
Since 2021, the major measures of deepening the reform of the new third board and establishing the Beijing stock exchange have further stimulated the market vitality. The newly listed enterprises, new tier enterprises and enterprises preparing to be listed on the Beijing stock exchange have formed a development echelon of high-quality enterprises layer by layer, continuously injecting fresh water into the new third board and the Beijing stock exchange.
According to the statistics of the national small and medium-sized enterprise share transfer system company, in 2021, the performance of the companies listed on the new third board maintained a stable growth, with a total operating revenue of 1457331 billion yuan, a year-on-year increase of 17.31%; The net profit was 60.621 billion yuan, an increase of 14.74% year-on-year and 22.08% over 2019. The net operating cash flow of listed enterprises was 109855 billion yuan, and the net operating cash inflow of 4040 companies was higher than that in the same period of last year.
At the same time, more than 70% of listed companies made profits last year and more than 50% achieved net profit growth. Among them, the leading enterprises have played the role of “leading geese”. 356 companies have a net profit of more than 50 million yuan, creating a total net profit of 40.985 billion yuan, accounting for 45.61% of the profitable companies.
Since the beginning of 2021, the median operating revenue and net profit of 305 new companies entering the innovation layer are 201 million yuan and 211953 million yuan respectively, which are 2.09 times and 5.39 times of the median level of the whole market respectively. Among these companies, more than 60% meet the financial conditions for listing on the Beijing stock exchange.
In 2022, the first batch of 40 companies applying the revised hierarchical management method to enter the innovation layer achieved an average net profit of RMB 323758 million, an average return on net assets of 15.69% and a compound growth rate of net profit of 40.94%. Many indicators are comparable to the level of listed companies.
The enterprises that have prepared to be listed on the Beijing stock exchange are more powerful, with the median operating revenue and net profit of 267 million yuan and 344163 million yuan respectively. The average compound growth rate of net profit in recent two years has reached 23.68%, 0.91 percentage points higher than the stock listed companies on the Beijing stock exchange. The average R & D expenditure of related companies is 193244 million yuan, of which 50 companies have R & D intensity of more than 10%, mainly concentrated in pharmaceutical manufacturing, software development, integrated circuit manufacturing and other industries.
