Just after the end of 2021, 524 A-share listed companies (including the main board, gem, science and innovation board and Beizheng, the same below) were added throughout the year, setting a new A-share market record.
In the past year, at the provincial level, except for Qinghai and Gansu, there were no new enterprises, other 29 provinces (cities and autonomous regions) have moved towards the capital market. Guangdong (92), Zhejiang (87) and Jiangsu (86) ranked among the “top three”, and Shanghai (48), Beijing (40) and Shandong (36) belong to the “second echelon”, The number of newly listed enterprises in other provinces is less than 20.
From the urban scale, 143 cities have new enterprises, and the number of new enterprises in Shanghai (48), Shenzhen (41), Beijing (40) and Hangzhou (37) is unparalleled, opening a gap with other cities.
This trend of “the strong is always strong” is becoming more and more obvious. As of December 31, 2021, there were 4685 A-share listed companies, 46% of which were concentrated in ten cities: Beijing, Shanghai, Shenzhen, Hangzhou, Suzhou, Guangzhou, Ningbo, Nanjing, Wuxi and Chengdu, and the total number of Listed Companies in these ten cities exceeded 100 in 2021.
What are the laws and secrets of these ten “breaking hundred” cities to promote asset securitization? It is worth analyzing in detail.
catch up
broken hundred in Ningbo, Nanjing, Wuxi and Chengdu
Beijing and Shanghai have always been “chasing each other” on the throne of No. 1 in the total amount. In 2021, Beijing surpassed Shanghai in total by virtue of the reserve strength of 11 selected companies on the new third board.
By the end of the year, the number of Listed Companies in Beijing had reached 425, accounting for 9.1% of the total number of A-share listed companies and 19.7% of the total number of “breaking 100” cities of 10 listed companies; Shanghai is followed by five, with 420, and North and Shanghai are the only cities with more than 400 listed companies; Shenzhen ranked third, 388, and Hangzhou ranked fourth, 202. The total number of Listed Companies in the other six cities is within 200. Ningbo (107), Nanjing (106), Wuxi (104) and Chengdu (101) just step on the line “breaking 100” with similar annual increments.
In terms of sectors, Shanghai won two first places, ranking first in the main board and science and innovation board with 290 and 59 respectively; Shenzhen won the top of the gem; Beijing ranks first in Beizheng. It is worth noting that Suzhou ranks among the top three of the science and innovation board, surpassing Shenzhen with 38, ranking third, and tied with Guangzhou for the second place in the North securities market.
IPO trend
the increment of Nanjing and Chengdu reached “double digits”
In the past year, the increment of Listed Companies in ten cities was double-digit, with Shanghai taking the lead and 48 new companies. Guangzhou and the four cities that have just broken through 100 were at the same level last year. Overall, 266 new companies were added in 10 cities, accounting for “half” of the overall increment of the A-share market.
Observing the IPO trend in recent three years, the increment of Beijing shows a slowing trend. 40 listed companies will be added in 2021, a decrease of 9 compared with 2020. On the contrary, the increment of Nanjing and Chengdu has achieved a leap from one digit to two digits.
The listing of enterprises is a long process, and it is difficult to realize the layout in a few years, which is driven by both the development of enterprises and local governments. At the beginning of 2018, Hubei clearly proposed to implement the “doubling plan for listed companies” in the government work report. In order to ensure the implementation of this plan, Hubei Province will “promote the listing of enterprises into the annual target responsibility assessment of municipal, state and county governments and provincial departments”.
In recent years, local governments at all levels have realized the driving effect of boosting enterprise restructuring and listing on regional economic development. As the only city in the central and western regions among the ten cities, Chengdu’s IPO reached the highest level over the years in 2021 – 14 A-share listed companies and 5 overseas listed companies were added.
Looking back on the past, it took 23 years in Chengdu since the birth of the first A-share listed company in 1993 and more than 50 in 2015. From 50 to 100, it took only six years. The speed of listing ushered in an outbreak, thanks to the local enterprise listing cultivation work. To what extent is this cultivation “cost”? Not only invite people to give lectures and carry out one-to-one enterprise services, some districts, cities and counties in Chengdu also “go out” with enterprise executives under their jurisdiction to take classes, training, research and lessons at the forefront of reform and opening up.
In the 14th five year plan, Chengdu has set a new goal: an average annual increase of 15 listed companies, and the total number of listed companies at home and abroad exceeds 200.
specialized Texin
Shanghai has the largest number of listed enterprises and Chengdu has the highest proportion
Last year, the hottest topic in the capital market was “specialization and innovation”. Whether it is the heavy signal of “developing specialized and new small and medium-sized enterprises” released at the meeting of the Political Bureau of the CPC Central Committee, or the market needs specialized and new enterprises to supplement and strengthen the chain, solve the “neck” problem, and the birth of the Beijing stock exchange to provide a financing platform for specialized and new small and medium-sized enterprises, it all shows that the cultivation of specialized and new small and medium-sized enterprises has risen to an unprecedented height.
Last October, after the Ministry of industry and information technology announced the list of the third batch of specialized and special new “little giant” enterprises, the total number of specialized and special new “little giant” enterprises in Zhejiang reached 470, ranking first in the country, 41 more than the second Guangdong.
If which city has the most harvest? According to the statistics of enterprise registration information provided by qixinbao, the number of listed enterprises in Ningbo, Shenzhen and Chengdu exceeded 100, ranking in the top three, except for four municipalities directly under the central government.
However, there are many enterprises in the “specialized and new” pool, but their performance in the capital market does not necessarily correspond one by one.
Statistics show that among the listed enterprises in Shanghai, the absolute number of specialized, special and new enterprises is the largest, 33; Although the number of specialized, special and new enterprises in Ningbo is leading, only 5 have been listed, accounting for the lowest proportion of listed enterprises in Ningbo, only 4.7%; In terms of proportion, Chengdu is the highest. Among the 101 listed enterprises, 15.8% are “specialized and special new” enterprises.
industry distribution
most concentrated computer / Electronics / mechanical equipment / medicine and biology
Take shenwanyi industry (2021) as the classification standard to see the industry distribution of listed enterprises in ten cities. Computer, electronics, mechanical equipment, medicine, biology and power equipment are the five industries with the most concentrated listed companies in ten cities. Among them, the computer industry has the largest number of enterprises. A large number of listed enterprises have emerged in Beijing, Shanghai, Shenzhen, Hangzhou, Guangzhou and Chengdu.
On closer inspection, each city has its own industry characteristics.
There are 27 listed media companies in Beijing, including Wanda Film Holding Co.Ltd(002739) , Beijing Enlight Media Co.Ltd(300251) with a total market value of 30 billion yuan, and Beijing Culture ( Beijing Jingxi Culture&Tourism Co.Ltd(000802) ) with a market value of only 3.3 billion yuan, which has suffered heavy losses in recent two years.
The industry with the largest distribution of listed enterprises in Ningbo is automobile, and the third industry in Wuxi is also automobile. Both cities have developed auto parts industry chains. Industry insiders have compared that the auto parts “produced” in Wuxi can almost be assembled into a complete vehicle. Similarly, Ningbo has issued a “three-year action plan”, saying that it is necessary to build a full Shanxi Guoxin Energy Corporation Limited(600617) automobile and core parts manufacturing demonstration base. The automotive industry is not limited to vehicle manufacturing, and there are broad development prospects for parts and related upstream and downstream industries. Ningbo and Wuxi have spawned 18 and 12 listed companies in the field of parts, which confirms the industrial value.
There are 14 basic chemical enterprises in Hangzhou, and enterprises are also distributed in mechanical equipment, computer and power equipment. These listed enterprises remind Hangzhou of its past history of developed manufacturing industry. Over the past decade, the tertiary industry in Hangzhou has been running at a high speed, and the proportion of the secondary industry has fallen to 29.9%. Hangzhou has also launched the “new manufacturing plan” and failed to reverse the decline. Hangzhou once admitted that the manufacturing industry is the biggest short board at present. At present, how to narrow the gap between the development level of manufacturing industry, total scale and urban status is the development proposition of Hangzhou.
The first industry in Chengdu is defense and military industry, with a total of 14 enterprises, of which 6 were newly listed in 2021, 4 on the science and innovation board and 2 on the gem. In fact, Chengdu has also enjoyed the “bonus” of the science and innovation board. The guidelines for the listing of enterprises on the science and Innovation Board of Shanghai Stock Exchange focuses on seven scientific and technological innovation fields, including “aerospace” and other high-end equipment fields. Some brokerage analysts believe that defense and military related enterprises are typical high-end equipment manufacturing, and are expected to benefit from the institutional dividend of the science and innovation board.
