Gathering place of science and technology enterprises
As the "experimental field" of capital market reform, the establishment and registration system of science and technology innovation board is of great and far-reaching historical significance for changing China's indirect financing structure, building and perfecting multi-level capital market and cultivating a number of internationally competitive science and technology enterprises.
On February 28th, 65438, with the landing of Fluorite Net and Qingyue Technology on the Science and Technology Innovation Board, the number of science and technology innovation board companies officially passed the threshold of 500. At the beginning of the opening of the Science and Technology Innovation Board, there were only 25 listed companies, which increased to 70 by the end of 20 19, exceeded 200 by the end of 2020 and crossed 370 by the end of 202 1 9. The latest number reached 500, which lasted three years and five months.
According to the statistics of Securities Times and DataBao, since July 22, 20 19 (the opening day of science and technology innovation board), the total number of newly listed A-share companies has exceeded 1500, of which the number of science and technology innovation board companies accounts for nearly 30%, surpassing the main board of Shanghai and Shenzhen, the Growth Enterprise Market and the North Stock Exchange, and has become the main market for listing and financing of science and technology enterprises.
Since the opening of the market, the initial fund-raising amount of science and technology innovation board has reached 759.4 billion yuan, accounting for more than 40% of the total fund-raising amount of A-share IPOs in the same period, and also exceeding the fund-raising amount of Shanghai and Shenzhen Main Boards, Growth Enterprise Market and Beijing Stock Exchange. During this period, * * * 16 companies raised more than 100 billion yuan in initial public offerings, of which 6 were science and technology innovation board companies. SMIC, the leader of wafer foundry, raised 53.2 billion yuan, ranking first, and it is also the highest technology company in the history of A-shares.
Many leading companies in high-end manufacturing, new energy, new infrastructure and other fields have successively appeared in A shares through science and technology innovation board. UIH, the leader of medical imaging equipment, landed in science and technology innovation board in August this year, raising nearly 1, 1 100 million yuan, becoming the technology company with the highest fundraising this year. Jingke Energy, a leading photovoltaic module, landed in science and technology innovation board on June 5,438+10 this year, raising an initial capital of 1000 billion yuan, breaking the record of IPO fundraising in Jiangxi Province in one fell swoop. There is also Daquan Energy, a domestic leader in high-purity polysilicon, which raised 6.447 billion yuan for the first time, breaking the IPO fundraising record in Xinjiang.
Industry leaders have emerged.
Since the opening of the market, the market value of science and technology innovation board has been growing. At the end of 20 19, the market value of A shares of Science and Technology Innovation Board Company was less than one trillion yuan. Up to now, the market value of A shares of science and technology innovation board companies totals 5.85 trillion yuan. In terms of market value distribution, nearly 70% of the companies' A shares have a market value below10 billion yuan, of which the market value below 5 billion yuan accounts for the highest proportion, reaching 43%.
As the gathering place of scientific and technological innovation enterprises, the scientific and technological innovation board has emerged a number of leading enterprises in sub-sectors and "invisible champions", which has provided strong support for the industrial chain to fill gaps, fill shortcomings and forge long boards, and promoted the deep integration of China's industrial chain and innovation chain. After more than three years of growth, science and technology innovation board has begun to mature in terms of regional radiation scope, industry coverage and industrial chain integrity, and many outstanding enterprises with world-class original innovative technologies have emerged.
According to data treasure statistics, up to now, there are 10 science and technology innovation board companies, and the market value of A-shares ranks first in their respective industries 10. The top companies are Jinshan Office and Huaxi Bio, with the market value ranking second in computer and beauty care respectively. Followed by UIH Medical, Guang Hai Information and Times Electric, ranking sixth in medical biology, electronics and mechanical equipment industries respectively.
In terms of regions, the number of science and technology innovation board companies from economically developed provinces is obviously dominant. According to statistics, there are more than 40 science and technology innovation board companies in Jiangsu, Shanghai, Guangdong, Beijing and Zhejiang, among which Jiangsu, Shanghai and Guangdong account for half of the country. The market value of A shares of science and technology innovation board companies in Shanghai and Jiangsu both exceeded one trillion yuan. Together with Guangdong, the market value of A-shares of science and technology innovation board companies in the three places is close to 3 trillion yuan, accounting for more than 50% of the total market value of science and technology innovation boards.
Hard technology shows its true colors.
According to data treasure statistics, among the listed companies of science and technology innovation board, the number of companies belonging to the new generation information technology industry, biological industry, high-end equipment manufacturing industry and new materials industry accounts for nearly 90%, and the market value of A shares of science and technology innovation board in these four industries totals 4.9 trillion yuan, accounting for more than 80%. Among them, the number of companies involved in the new generation of information technology industry and biological industry exceeds 100, and the total market value of A shares exceeds one trillion yuan.
"Specialized and innovative" companies have the aura of leading small and medium-sized enterprises, and the national level has also introduced measures to encourage cultivation. The outline of the "14th Five-Year Plan" proposes to cultivate "little giant" enterprises specializing in characteristics and novelty and single champion enterprises in manufacturing industry. Science and technology innovation board is the most concentrated market for enterprises specializing in innovation.
According to data treasure statistics, * * * currently, there are more than 240 science and technology innovation board companies specializing in innovation, accounting for 49% of the total number of companies in science and technology innovation board. In the same period, the proportion of "specialized and innovative" enterprises in the total A shares was 2 1.26%, which means that the proportion of "specialized and innovative" enterprises in the science and technology innovation board was 2.3 times that of the whole A shares.
The investment of R&D determines the future core competitiveness. As the main position of domestic "hard technology" enterprises, the high R&D investment of Science and Technology Innovation Board Company is remarkable, which is higher than the overall level of A-share market in terms of R&D expenditure growth rate, R&D personnel ratio and R&D investment. After listing, the R&D efforts of science and technology innovation board enterprises continue to improve, and the average R&D intensity ranks first in all A-share markets.
According to data treasure statistics, in the first three quarters of this year, the R&D expenditure of science and technology innovation board companies totaled 79.6 billion yuan, and the total R&D investment exceeded last year. Among them, the R&D expenditure of 9 science and technology innovation board companies, including Baekje Shenzhou, SMIC, Junshi Bio, Chuanyin Holdings and Qi Anxin, exceeded 654.38 billion yuan. The overall R&D intensity of science and technology innovation board (R&D expenditure as a proportion of revenue) is 9.67%, which is 5.3 times of the overall level of A shares in the same period. The R&D intensity of 62 science and technology innovation board companies exceeds 30%, including Yahong Pharmaceutical, Shouyao Holdings, Maiwei Bio, Cambrian and Monk Pharmaceutical.
Science and technology innovation board company has gathered a large number of R&D talents, which provides a steady stream of power for scientific and technological innovation of enterprises. According to data treasure statistics, in 20021year, the R&D personnel of science and technology innovation board accounted for 23. 15%, while the R&D personnel of A shares accounted for only 9.32% in the same period. In the first half of this year, the proportion of R&D personnel in the total number of employees of the Science and Technology Innovation Board rose to 24%.
Chen Li, chief economist and director of the research institute of Chuancai Securities, said that the annual increase in R&D expenditure is conducive to the continuous improvement of the R&D strength of enterprises, thus promoting the continuous improvement of the overall quality of A-share listed companies and promoting the healthy development of China's economy. At the same time, increasing R&D investment is also conducive to accelerating the pace of scientific and technological innovation and promoting the high-end development of China's industrial chain.
Full of growth potential
On the track of high prosperity, combined with the good internal governance of the company, these "hard-tech" enterprises can still show strong growth resilience even in the case of great changes in the external environment, and the average growth rate of net profit is significantly higher than that of other enterprises.
According to statistics, from 20 19 to 202 1, the overall revenue of science and technology innovation board passed the 300 billion yuan and 700 billion yuan mark successively, during which the growth rate of revenue and net profit continued to rise, and both of them far exceeded the level of A shares in the same period. In the first three quarters of this year, the overall revenue of science and technology innovation board company exceeded 800 billion yuan, a year-on-year increase of 33.24%; The net profit was 86.7 billion yuan, a year-on-year increase of 65,438+08.47%. The growth rate of revenue and net profit was 25.24 and 65,438+06.94 percentage points higher than that of A shares in the same period respectively.
Many science and technology innovation board companies have outstanding high growth. According to data treasure statistics, over 60% of the companies achieved sustained revenue growth from 20 19 to 202 1 year, and over 40% of the companies achieved sustained net profit growth in the above three years. In the first three quarters of this year, the net profit of more than 120 companies continued the growth trend of the past three years, including leading companies in high-end medical devices, next-generation information technology and new energy industries, as well as SMIC, Zhongwei and Hemai.
Many of the above-mentioned science and technology innovation board companies that continue to grow still have high growth potential in the future. According to data treasure statistics, according to the unanimous forecast of more than five institutions, the growth rate of net profit of 55 companies in the next three years is expected to exceed 30%. The average growth rate of net profit of six companies, including Xinyuan -U, Yuneng Technology, Paineng Technology, Tuojing Technology, Hemai Shares and Guang Hai Information, is expected to reach over 65,438+000%.