The annual report of Listed Companies in 2021 has been closed, and Shenzhen listed companies have made a brilliant achievement: with the strong support of the stable growth policy and the comprehensive deepening reform of the capital market, Shenzhen listed companies continue to lead economic growth and further play the "head goose effect" of high-quality development.
If the observation perspective is switched to the sample companies of Shenzhen core index, we will see such a "picture": Shenzhen Composite Index with high-quality development, gem index with full innovation vitality, and Shenzhen 100 led by new blue chips.
Shenzhen Stock Index: multi-dimensional reflection of high-quality development of Shenzhen
As the benchmark index of Shenzhen market, Shenzhen composite index is also a representative index of China's new economy. By giving full play to the market benchmark function and investment function, it fully shows the multi-level market characteristics of Shenzhen.
As of April 30, 2022 (the market value coverage, weight, P / E ratio, fund share and other data in this paper are updated to April 30, 2022, the same below), the total market value coverage of Shenzhen Composite Index on Shenzhen A shares has reached 68%. According to the 2021 annual report data, the Shenzhen composite index achieved an annual operating income of 11.91 trillion yuan (excluding the impact of St Tesco outliers in the index annual report analysis), accounting for 65% of the Shenzhen market, realized a net profit of 862 billion yuan, accounting for 88%, and a total cash dividend of 307.7 billion yuan, accounting for 76%, which better reflects the overall fundamentals of the Shenzhen market.
Taking a closer look at the sample companies, the Shenzhen composite index reflects the high-quality development trend of the Shenzhen market in multiple dimensions: manufacturing companies perform well, emerging industries have significant momentum, and actively fulfill their social responsibilities.
The 14th five year plan is an important strategic opportunity to promote the construction of a manufacturing power and a quality power. According to the industry classification standard of the CSRC, there are 332 Manufacturing Listed Companies in the sample companies of Shenzhen composite index, accounting for 72% (according to market value statistics, the same below), which is higher than other major indexes in the market. According to the data of 2021 annual report, the sample manufacturing companies of Shenzhen composite index achieved an operating revenue of 8.21 trillion yuan, a year-on-year increase of 32%, and a net profit of 645.3 billion yuan, a year-on-year increase of 37%.
In addition, there are 271 sample companies in strategic emerging industries in the Shenzhen composite index, accounting for 64%. The nine strategic emerging industries have achieved positive growth in operating revenue, and the seven industries have achieved double growth in revenue and profit. Among them, new energy vehicles, new materials and high-tech services showed an accelerated growth momentum, and the net profit increased by 87%, 79% and 31% respectively year-on-year. The R & D investment of the sample companies of Shenzhen stock index continued to increase, and their independent innovation ability was improved. The average R & D investment was 660 million yuan, and the average R & D intensity was 6.4%, which was significantly higher than the overall level of Shenzhen stock market (3.3%).
In terms of employee protection, the sample companies of Shenzhen composite index have created more than 14000 jobs on average, and nearly 40% of female employees. 263 companies have specially set up systems or projects related to employee career development, such as vocational skill training, lectures of external experts, succession plan, etc., and more than 290 companies have specially formulated management policies to ensure employee health and safety. In terms of public welfare activities, 429 companies organized and carried out public welfare projects such as anti epidemic, student aid and poverty alleviation in 2021, with an average investment of nearly 6 million yuan.
gem refers to: record the innovation track and independent technology is growing
As a representative index representing the development of China's innovative and entrepreneurial enterprises, gem refers to an important part of the Shenzhen "1 + 2" core index. The index has witnessed the vigorous development of the GEM market and described the development track of China's innovative and entrepreneurial enterprises.
What are the innovation tracks recorded by the gem in 2021?
According to the data of the 2021 annual report, the gem refers to 100 sample companies that achieved operating revenue of 1.13 trillion yuan in the whole year, with a year-on-year increase of 25%, of which 89 had positive revenue growth and 69 had revenue growth for three consecutive years. It is noteworthy that, in the context of the slowdown in the global economic recovery, the overseas business of the sample companies on the gem showed a rapid recovery trend, and the overseas revenue increased significantly for two consecutive years, with a year-on-year increase of 54% in 2021 and an average increase of 69% in the past two years. Gem refers to outstanding profitability, with a return on net assets of 12.6%. The annual net profit was 123.8 billion yuan, an increase of 25% year-on-year. Among them, the net profit of 71 companies was growing, and 52 companies were growing for three consecutive years.
The advantages of innovation and growth are prominent. The average weight of high-quality companies in the gem is 87%, and the net profit of high-quality companies in the gem refers to the listed companies, accounting for 87.9%, accounting for 1.9% of the total net profit of the gem. Among them, the development momentum of green industry sample companies is particularly strong. The net profits of new energy vehicles, new energy, energy conservation and environmental protection industries increased by 156%, 65% and 51% year-on-year respectively. Gem means that the sample companies adhere to scientific and technological innovation. More than 90% of the companies are high-tech enterprises, nearly 50% have the attribute of domestic alternative "independent technology", and the average number of patents is 175.
Registered companies have become the "new power" of the index. The gem reform and the pilot registration system have been implemented smoothly and have been running well since their implementation, which has not only injected new vitality into the market, but also introduced fresh water for the gem index. In the current sample of the index, 10 companies are registered on the gem, accounting for 4.3%, contributing 26% of the operating revenue and 11% of the net profit to the index.
The share of ETF products increased against the market trend. From 2019 to 2021, the growth enterprise market index increased by 166% in three years, and the yield took the lead in the world's major indexes. Since this year, the global capital market has generally corrected, and the volatility of the gem index has increased. At present, the price earnings ratio of the index is 39 times (excluding loss samples), which is at a relatively low historical level since its release. At the same time, investors are generally optimistic about the long-term growth potential of the gem, the market investment willingness is enhanced, and there is a large-scale net subscription of ETF products indicated by the gem. At the end of April this year, compared with the beginning of the year, the share of ETF increased by 95%, and the net capital inflow exceeded 16.6 billion yuan.
SZSE 100: new blue chips play an exemplary and leading role
The Shenzhen 100 index, released in January 2003, is the first core index clearly positioned as an investment function in the Chinese market, opening the curtain of China's indexed investment. SZSE 100 is positioned as a growing blue chip enterprise in China, leading all major sectors of Shenzhen and bringing together industry leaders.
Since its release, the index has achieved a cumulative return of 435% and an annualized return of 9%. SZSE 100 has both blue chip and growth characteristics, provides a good investment target for medium and long-term capital allocation of core assets in Shenzhen, and is favored by institutional investors. According to the fund's annual report in 2021, the largest Shenzhen 100 index product - e fund Shenzhen 100ETF (159901) is held by 79% of institutional investors.
Under the good investment effect, the new blue chip sample companies are actively playing a demonstration and leading role.
The total market value coverage of Shenzhen Stock Exchange 100 to Shenzhen A shares reached 42%, the annual operating revenue was 5.7 trillion yuan, accounting for 31%, and the net profit was 526.1 billion yuan, accounting for 56%. Shenzhen Stock Exchange 100 market has significant blue chip attribute and outstanding profitability. 72 sample companies rank among the leading positions in the subdivided industries (market value or revenue ranking the top 10%), and the return on net assets is 13%, leading the main indexes of the A-share market.
Continue the fine dividend tradition. According to the 2021 annual report, 92 of the 100 sample companies in Shenzhen Stock Exchange disclosed cash dividend plans, with a total cash dividend amount of 179.4 billion yuan, accounting for 44% of the Shenzhen stock market. Among them, there are 43 companies with a dividend ratio of more than 30%, 20 companies with a dividend ratio of more than 50%, and 82 companies with dividends for three consecutive years, so as to effectively improve the sense of market access of investors.
Actively disclose the report on the performance of social responsibility. In January 2022, the Shenzhen Stock Exchange issued the self regulatory guidelines for listed companies No. 1, which further clarified that the sample companies of SZSE 100 should disclose the report of the company's performance of social responsibility at the same time as the annual report. By the end of April, all the sample companies of Shenzhen Stock Exchange 100 had been disclosed on time.
