Source: Time Investment Research
Author: Lu Hai
Edited by Li Qiantao
218 A-share listed companies in Suzhou have disclosed their first quarter financial reports. According to Wind data, in the first quarter of 2024, the 218 listed companies achieved a total revenue of 197.735 billion yuan, an increase of 8.22% year on year, equivalent to 35.63% of Suzhou's GDP (554.899 billion yuan) in the first quarter of 2024.
Among them, there were 2 companies whose revenue exceeded 10 billion yuan in the first quarter, 4 companies whose revenue exceeded 5 billion yuan (excluding 10 billion yuan and above), and 32 companies whose revenue exceeded 1 billion yuan (excluding 5 billion yuan and above). In terms of year-on-year growth, 139 enterprises achieved year-on-year growth in revenue in the first quarter, accounting for 63.76%, an increase of 29 compared with 110 enterprises in the first quarter of last year.
Dongfang Shenghong's revenue ranks first
Specifically, in the first quarter of this year, Dongfang Shenghong (000301. SZ) topped the list with a revenue of 36.739 billion yuan; Hengtong Optoelectronics (600487SH) ranked second in terms of revenue, which was 11.785 billion yuan. Artest (688472. SH) dropped to the third place with a revenue of 9.597 billion yuan, down 18.88% compared with the first quarter of last year, and dropped out of the revenue team of 10 billion yuan.
In addition, Jiangsu Cathay Pacific (002091. SZ), Dongshan Precision (002384. SZ) and Donghua Energy (002221. SZ) also had a revenue of more than 5 billion yuan in the first quarter. Among them, Dongshan Precision's revenue grew by 18.94% year on year, ranking the fifth in anti surpassing Donghua Energy. In contrast, the revenue of Golden Mantis (002081. SZ) dropped to 4.544 billion yuan, leaving a team with a revenue scale of 5 billion yuan.
There are 32 companies with revenue exceeding 1 billion yuan (excluding 5 billion yuan and above), a net increase of 9 companies compared with the same period last year. Among them, 11 enterprises, including CITIC Bo (688408. SH), Vicino (002387. SZ), Huguang (605333. SH), Blue Lithium Core (002245. SZ), Anjie Technology (002635. SZ), Suzhou Gutechi (002079. SZ), are new members, while three enterprises, namely Saiwu Technology (603212.SH), * ST Zhongli (002309. SZ) and Ruitai New Material (301238. SZ), fall behind.
From the perspective of revenue growth, there are 139 enterprises whose revenue will grow year-on-year in the first quarter of 2024, an increase of 29 compared with the same period last year. Among them, there are 11 enterprises that have doubled their revenue. Yaxiang Integration (603929.SH) ranks first with a year-on-year growth rate of 239.64%, followed by Tianfu Communication (300394. SZ) and Xujie Technology, with a year-on-year growth rate of 154.95% and 140.24% respectively.
In contrast, the revenue of Zhuozhao Dispensing (873726. BJ) dropped the most year on year, reaching 67.24%, an increase compared with the same period last year; In addition, the decline of * ST Boxin (600083. SH) and Kaiwei Tek (688693. SH) also exceeded 60%, 66.03% and 63.54% respectively.
From the stock price performance, in the first quarter, the stock price of Dongfang Shenghong rose first and then fell, and finally rose by 5.00% (the same below); The stock price of Yaxiang Integration fell first and then rose, and still fell 15.47% in the first quarter; The stock price of Zhuozhao Dispensing declined all the way, closing down 44.36% in the first quarter.
Bank of Suzhou Becomes the Profit King
In terms of net profit, the most profitable industry in the first quarter was banking. Wind data shows that in the first quarter of this year, only two enterprises in Suzhou with net profits of more than 1 billion yuan belong to the banking industry, namely Bank of Suzhou (002966. SZ) and Changshu Bank (601128. SH), with net profits of 1.505 billion yuan and 1.027 billion yuan respectively.
In contrast, the net profit of Tianhua Xinneng (300390. SZ) in the first quarter fell to 634 million yuan, which was overtaken by Changshu Bank, ranking third, and falling out of the list of net profits of more than 1 billion yuan.
There were 27 enterprises with net profits of more than 100 million yuan (excluding 1 billion yuan and above) in the first quarter, a net increase of 5 compared with the same period last year. Among them, 10 enterprises such as Tianfu Communication, Newway (603699. SH), Zhongxinbo (688408. SH), Yaxiang Integration, and Anjie Technology are new members, while 4 enterprises such as Goodway (688390. SH), Ruitai New Material (301238. SZ), Tongding Internet (002491. SZ), and Zhonglai Shares (300393. SZ) fall behind.
In addition, although Vicino's revenue reached 1 billion yuan with 1.797 billion yuan, it became the "loss king" among 218 A-share listed companies in Suzhou with a net loss of 764 million yuan in the first quarter* ST Zhongli and Zhonglai Shares ranked second and third respectively with losses of 187 million yuan and 180 million yuan.
In terms of growth rate, there were 126 enterprises whose net profits increased year-on-year in the first quarter, accounting for 57.80%, a net increase of 18 compared with the first quarter of last year. 39 enterprises doubled their net profits, accounting for 17.89%.
Among them, Xujie Technology ranked first with a year-on-year growth rate of 6834.63%, and Weilan Lithium Core and Jiangsu Beiren (688218.SH) ranked second and third with a year-on-year growth rate of 990.37% and 970.10% respectively. In addition, the enterprises whose net profit growth rate exceeded 500% year on year are Huayuan Holding (002787. SZ), Fengfan Shares (601700. SH), Jucan Optoelectronics (300708. SZ) and Huguang Shares (605333. SH).
In contrast, Nanochip Micro (688052. SH) ranked first in the list of net profit decline with a year-on-year growth rate of - 9677.28%; The net profits of Changlu (002160. SZ), Sirip (688536. SH), Qingyue Technology (688496. SH) and Changguang Huaxin (688048. SH) also fell by more than 1000% year on year, respectively - 4447.04%, - 3098.30%, - 3058.26% and - 1394.95%.
From the perspective of stock price performance, the stock price of Bank of Suzhou fell slightly after rising in the first quarter, and finally rose 10.84%; The stock price of Xujie Technology rose first and then fell, closing down 28.78% in the first quarter; The share price of Nanochip Micro fell sharply, closing down 39.83%.
1/4 R&D expense rate of Suzhou listed companies exceeds 10%
In terms of gross profit margin, there were 36 enterprises whose gross profit margin exceeded 40% in the first quarter. Among them, Zejing Pharmaceutical - U (688266. SH) and Haochen Software (688266. SH) ranked the second with 93.40% and 90.11% gross profit margin respectively. The gross profit rate of sales of Nanotech (688690. SH), Shanshi Wangke (688030. SH) and Zhongxin Group (601512. SH) also exceeded 70%.
There are 23 enterprises whose net profit rate exceeds 20%. Among them, China News Group, Bank of Suzhou and Zhangjiagang Bank ranked the top three with 47.61%, 46.67% and 42.52% of net sales interest rates respectively.
From the perspective of R&D expense rate, there were 53 enterprises with R&D expense rate exceeding 10% in the first quarter, accounting for 24.31%. Among them, Guangge Technology (688450. SH) ranked first with a R&D expense rate of 161.48%. The prospectus shows that Guangge Technology is a high-tech enterprise focusing on the research, development, production and sales of the new generation optical fiber sensing network and asset digital operation and maintenance management system, which was sponsored by CITIC Securities and landed on the science and technology innovation board on July 24, 2023.
From the perspective of stock price performance, the stock price of Zejing Pharmaceutical - U rebounded in the first quarter and ended up 1.81%; The stock price of Zhongxin Group fluctuated sharply, rising 2.33% in the first quarter; The stock price of Guangge Technology rose after a sharp fall, and fell 26.06% in the first quarter.
According to the Shenwan Industry Classification Standard (2021), among Suzhou A-share listed companies, the number of enterprises from the electronics industry is the largest, reaching 46, accounting for 21.10%; The mechanical equipment and electric equipment industries were followed by 37 and 25 respectively.
Wind data shows that as of the close of June 12, among the 218 A-share listed companies in Suzhou, there are no enterprises with a market value of more than 100 billion yuan, and 35 enterprises with a market value of more than 10 billion yuan. Among them, Shanghai Electric Power Co., Ltd. ranks first with a market value of 62.935 billion yuan, followed by Dongfang Shenghong and Tianfu Communications, with a market value of 56.460 billion yuan and 48.672 billion yuan respectively.
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