In 2023, the overall profitability of listed companies in Shanghai and Shenzhen Stock Exchanges will be improved, their return ability will be steadily improved, and new achievements will be made in high-quality development. The annual report data of listed companies in 2023 shows that 78.4% of the listed companies are profitable, and 51.4% of the company's net profit increases year on year. The number and amount of cash dividends announced by listed companies reached a new high, and the number of employees and salaries increased. From the perspective of the industry track, the performance of the travel service industry has been significantly restored, driving the consumption of related goods back up. Overseas business income reached a new high, and the overall performance of the "new three kinds" leading enterprises was outstanding. Industry insiders believe that the latest annual report data shows that the operating income of listed companies in Shanghai and Shenzhen Stock Exchanges has steadily increased, and the profits of real enterprises have gradually recovered, reflecting the trend of China's economic operation.
More than 50% of the company's net profit growth
Data shows that nearly 80% of listed companies in Shanghai and Shenzhen Stock Exchanges have made profits, while more than 50% of listed companies have achieved year-on-year growth in net profits, and the overall profits of listed companies have improved.
In 2023, listed companies in Shanghai and Shenzhen will achieve a total operating revenue of 72.6 trillion yuan, up 0.9% year on year; The net profit was 5.3 trillion yuan, down 1.3% year on year. Among them, 78.4% of listed companies achieved profits, and 51.4% of listed companies' net profits increased year on year. Excluding the financial industry, the entity listed companies achieved an operating income of 63.4 trillion yuan, up 2.2% year on year; Net profit was 2.9 trillion yuan, down 3.1% year on year, and EBITDA slightly increased by 0.4% year on year.
Among the 28 entity level industries of Shenwan, 14 industries achieved growth in profits, and the profit growth of commercial retail, social services, media, transportation, public utilities and other industries ranked first. The operating revenue of listed companies is equivalent to about 60% (60.9%) of GDP, and the total profit of entity listed companies is equivalent to more than half (52.6%) of industrial enterprises above designated size, and their position in the national economy is growing.
From the perspective of industry segmentation, the performance of travel service industry has been significantly restored, driving the consumption of related goods back up. In 2023, with the accelerated recovery of tourism travel, the performance of listed companies in the transportation industry will continue to recover, with a year-on-year increase of 65.6% in net profit. The net profits of beauty care, clothing and home textile related to leisure travel increased by 45.2% and 60.3% respectively year on year.
Overseas business income reached a new high, and the overall performance of the "new three kinds" leading enterprises was outstanding. In 2023, the overseas business income of entity listed companies will reach a new high on a high base, with a year-on-year growth of 5.2%, which is higher than the export growth rate of 0.6% of China's goods trade. The proportion of revenue from overseas business of entity listed companies reached 12.8%, which has continued to increase in recent years; The overseas business income of listed companies is equivalent to about 20% of the total export volume of China's goods trade, and the strength of participating in global competition is growing.
The capital market has gathered and fostered a large number of "new three kinds" leading enterprises, constantly improving the scientific and technological content of China's export products. In 2023, the total overseas business income of listed companies in new energy vehicles, lithium batteries and photovoltaic industries will increase by 32.3% year on year, higher than the growth rate of 29.9% of the national export income of related industries.
Chen Li, chief economist of Sichuan Finance Securities and director of the research institute, analyzed that in 2023, the overall operating income of listed companies in Shanghai and Shenzhen stock markets will rise steadily, and the profits of real enterprises will gradually recover.
The momentum of innovation continues to increase
Looking at the annual report through figures, the growing momentum of innovation is one of the highlights for listed companies to promote high-quality development in 2023.
In 2023, the R&D investment of listed companies in Shanghai and Shenzhen will total 1.6 trillion yuan, with a year-on-year growth of 9.9%. The R&D investment is equivalent to about 50% of China's R&D expenditure; R&D intensity (the proportion of R&D expenditure in operating revenue) reached 2.5%. The R&D intensity of the Science and Technology Innovation Board and the GEM was 10.9% and 4.9% respectively. The number of listed companies with R&D intensity greater than 10% accounted for 16.5%, an increase of 1 percentage point year on year; 253 listed companies invested more than 1 billion yuan in R&D.
Innovation has been transformed into the driving force for high-quality development of enterprises, and Chinese ships delivered the first domestic large cruise ship; Loongson Zhongke released a new generation of general purpose processor, Loongson 3A6000, which is independently developed and controllable in China
In 2023, the capital expenditure of real enterprises will total 5.0 trillion yuan, up 9.0% year on year. The high-tech manufacturing industry has been put into production with a strong momentum, and the capital expenditure in 14 subdivisions such as railways, ships, aerospace, and automobiles increased by more than 10% year on year. Investment expenditure in infrastructure related industries such as public utilities and transportation increased by 33.7% and 14.0% year on year respectively, and continued to play a role in stabilizing the economy and promoting development.
"Profitability improvement is often the leading indicator of enterprise investment. With the recovery of profits and operating cash flow, listed companies' willingness to put into production has improved, and their contribution to economic growth is expected to further improve." Analysis by insiders.
Cash dividends of 28 companies exceed 10 billion yuan
The continuous enhancement of the awareness of listed companies to return investors is also a big point.
The data shows that listed companies actively responded to the new "National Ninth Article" cash dividend requirements, and a total of 3635 listed companies announced cash dividends in 2023 annual reports, accounting for 70.9%; A total of 2.0 trillion yuan of cash dividends were announced, with the number and amount of cash dividends increasing by 10.9% and 1.2% respectively year on year, both hitting a record high. The cash dividends of 28 listed companies are expected to exceed 10 billion yuan. Many listed companies proposed medium-term dividend plans, and the five state-owned banks collectively launched medium-term dividend arrangements for the first time.
"From the perspective of medium and long term, as the policy continues to encourage dividend orientation of listed companies, improve the cash dividend governance mechanism, and gradually improve the profitability of A-share companies under the domestic economic repair environment, the willingness of enterprises to pay dividends is expected to increase, driving the continuous improvement of cash dividend strength." said Yang Chao, chief strategic analyst of Galaxy Securities.
In addition to sub infrared, repurchase efforts of listed companies are also increasing. A total of 775 listed companies will implement repurchase in 2023, with a repurchase amount of 86.433 billion yuan. "This round of repurchase tide started in June 2023 and has continued to this day, mainly focusing on scientific and technological growth. There are many leading companies announcing repurchase plans." Yang Chao analyzed.
