Key investment points:
Under the double impact of catastrophic flood and epidemic situation, Henan has overcome difficulties and achieved steady economic development.
In 2021, the provincial GDP was 5888.7 billion yuan, an increase of 6.3% over the previous year, lower than the national growth rate of 8.1%. The added value of industries above Designated Size in the province increased by 6.3%. The province’s investment in fixed assets increased by 4.5% over the previous year, and the investment in real estate development increased by 1.2% year-on-year. The total retail sales of social consumer goods in the province increased by 8.3% over the previous year. In 2021, the total import and export value of goods in the province increased by 22.9% year-on-year. Among them, exports increased by 23.3%; Imports increased by 22.3%. At the end of 2021, the permanent resident population of Henan Province was 98.83 million, a decrease of 580000 compared with 2020. In 2021, Henan’s economic growth experienced both medium-term and short-term pressures, and the overall performance was lower than the national average. At present, Henan is vigorously promoting the “ten strategies”, the pace of economic transformation and upgrading is accelerating, and Henan Economic Bureau is expected to open a new stage of development.
Muyuan Foods Co.Ltd(002714) performance is under pressure, and most companies operate steadily. The total operating revenue of Listed Companies in Henan Province was 880.6 billion yuan, accounting for 1.4% of the total a, with a year-on-year increase of 29.1%, higher than that of the whole a; The total net profit of Henan’s listed A-Shares was 55.1 trillion yuan, accounting for a year-on-year growth of 1.8% compared with that of the parent company in 2020, with a total net profit of 1.8 trillion yuan, which was basically the same as that of the parent company in 2021. The growth trend of revenue and performance of Listed Companies in Henan Province has declined, but the overall growth rate remains medium and high. 81% of the company’s operating revenue has achieved positive growth, and 64% of the company’s net profit has achieved positive growth. Due to the large volume of Muyuan Foods Co.Ltd(002714) and the downward cycle of pig price in 2021, it has a great impact on the overall performance of Listed Companies in Henan. Excluding Muyuan Foods Co.Ltd(002714) , the revenue increased by 28.13% and the profit increased by 77.39% in 2021, which remained stable and good as a whole.
Equity financing of listed companies remained stable. In 2021, listed companies in Henan raised a total of 31.098 billion yuan, including initial IPO of 4.879 billion yuan, private placement of 13.907 billion yuan and convertible bonds and exchangeable bonds of 12.312 billion yuan. According to different trading markets, 9 companies are financing on the main board market, 5 companies are financing on the small and medium-sized board, 11 companies are financing on the gem, 2 companies are financing on the science and innovation board, and 2 companies are financing on the new third board.
Henan enterprises have great potential to enter the capital market. Henan is a big economic province and is moving forward to the stage of high-quality development Xi Jinping General Secretary hopes that Henan will “strive to be the first and be more brilliant”.
Secretary Lou Yangsheng put forward the “ten strategies” and practiced the new development concept at the 11th Party Congress of Henan Province. Focusing on the implementation of the “ten strategies”, Henan Province has listed 28 research topics, which are broken down to all localities and departments. It is required to clarify the annual objectives and tasks, refine work measures, identify the carrier, and launch a number of transformative, traction and landmark measures to ensure the implementation and effectiveness of the items.
With the in-depth implementation of the “ten strategies” of Henan Province, Henan enterprises have greater and greater potential to enter the capital market.
Risk tip: the economy is less than expected, the policy promotion is less than expected, and the epidemic control is less than expected
