Recently, the China Association of listed companies made statistics on the performance of all A-Shares of the three major exchanges in Beijing, Shanghai and Shenzhen in 2021 for the first time. The performance of the annual report increased steadily and the quality improved steadily. A group of data unlocked the development password of China's "basic sector" of the real economy.
We can see the annual report of Listed Companies in 2021 from five perspectives: first, the contribution of total operating revenue of listed companies to GDP has increased significantly, realizing a total operating revenue of 64.97 trillion yuan, accounting for 56.81% of the total GDP of the whole year; Second, the proportion of revenue growth companies is high, about 80% of the companies have achieved revenue growth, and 40% of the companies have sustained revenue growth for three consecutive years; Third, the profitability of listed companies was further improved, and the net profit after deducting non-profit was 4.43 trillion yuan, a year-on-year increase of 24.39%; Fourth, high profit quality and abundant operating cash flow. The net operating cash flow of non-financial listed companies was about 5.03 trillion yuan, an increase of 9.82% year-on-year, and nearly 80% of the companies realized net cash inflow from operating activities; The total R & D investment of non listed companies was 31.02 trillion yuan, accounting for about 1.02% of the total R & D investment of non listed companies.
As shown in the above data, the company's profit quality and profitability have been significantly improved, thanks to the strong implementation of relevant quality improvement policies of listed companies. Since the central economic work conference in 2018 first proposed "improving the quality of listed companies", the CSRC has issued the action plan to promote the quality of listed companies, and the quality of listed companies has been significantly improved in recent years. The " Beijing Dynamic Power Co.Ltd(600405) " role of Listed Companies in economic growth has been continuously strengthened, and their position as the "basic sector" of the real economy has been further consolidated. The quality of listed companies is the basis for the healthy development of the capital market. Only high-quality listed companies can boost investor confidence and bring prosperity to the capital market.
The author believes that it takes a long time to improve the quality of listed companies, and three things should be done continuously:
First, standardize corporate governance in a down-to-earth manner, which is the basis for improving the quality of listed companies. Listed companies should give full play to the endogenous role of governance and check and balance mechanism, effectively avoid internal control imbalance, governance disorder and related derivative behaviors, and can also be improved from the aspects of strengthening endogenous power, building a good ecology and perfecting system rules.
Second, promote listed companies to become better and stronger, which is the core of high-quality development of listed companies. "Excellent" refers to the benefit and value of the enterprise, "strong" refers to the core competitiveness and innovation ability. According to the annual report data of Listed Companies in 2021, listed companies have made initial achievements in becoming better and stronger.
Third, the spirit of keeping pace with the times is the key to improve the quality of listed companies.
At present, enterprise management is facing multiple challenges. How to turn pressure into power and then improve the sustainable development ability of enterprises has become an examination question in front of entrepreneurs. Challenges and opportunities coexist. With the high-quality development of listed companies entering a new stage, the toughness of the industrial chain and supply chain will continue to improve, which will further consolidate the "basic market" of China's economy.
