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Original title: The overall performance of the first three quarters is stunning as a “birthday present” for GEM’s 11th anniversary.
Our reporter Chang Xiaoyu
On the occasion of the 11th anniversary of its founding, GEM received the best “birthday present”. As of October 30, except for the retreat of the storm, the 870 GEM companies have disclosed their results for the first three quarters of 2020. The overall performance of the GEM companies in the first three quarters was outstanding, and continued strong growth in the third trimester. The performance of newly listed companies under the registry system was significantly better than the average level; R&D investment increased rapidly and innovation continuously strengthened.
Dong Zhongyun, chief economist at AVIC Securities, said in an interview with a reporter for “Securities Daily” that the continued deepening of the business growth market reform and the continued publication of reform dividends have helped listed companies improve. its operational performance. The implementation of the registration system and the optimization of the listing conditions have allowed more high-quality innovative companies to get listed and obtain financing on the ChiNext. The striking performance of the new companies listed on the registry system this year has a boosting effect on the overall performance of the ChiNext.
The average income is 1,518 million yuan.
Better company performance under the registration system
The 870 GEM companies that have disclosed their operating performance in the third quarter have achieved an average operating income of 1.518 billion yuan in the first three quarters, a year-on-year increase of 5.62%; a net profit of 153 million yuan, a year-on-year increase of 21.48%. The companies that achieved performance growth in the first three quarters of the GEM represented 51.95%, which was basically the same as in the same period last year; The companies that achieved profitability represented 85.63%, a slight decrease compared to the same period last year.
In the third quarter of 2020, each GEM-listed company achieved operating income of 592 million yuan and a net profit of 66 million yuan, representing a year-on-year increase of 12.15% and 29.92%, and a monthly increase of 25.07% and 18.08%. Operating performance in the third quarter continued to grow rapidly in the second quarter (the operating performance of companies listed on GEM in the second quarter of 2020 has reversed the decline in the first quarter, with average operating income and profit growth rates net of 43.69% and 147.37% respectively) Make efforts to continue the strong growth trend.
In addition, this year’s Enterprise Market Growth ushered in a major reform in the development process: the pilot registration system. The reformed Growth Companies Market has opened a new era of comprehensive deepening reforms in the capital market and serving the high-quality development of the economy.
The first group of GEM companies listed in the registry system was listed on August 24. As of October 30, 41 new companies are listed on the GEM. In the first three quarters, the average operating income and net profit of 41 ChiNext companies under the registry system were 4.298 million yuan and 307 million yuan, an increase of 16.66% and 77.46% year-on-year respectively. Average operating profit and net profit in the third quarter were 16.76 respectively. RMB 144 million and RMB 144 million respectively increased 23.30% and 76.17% year-on-year, far exceeding the industry average level.
Winner Medical Products Co., Ltd. (“Winner Medical”) is one of the companies that benefited from the reform of the growing business market and the pilot registration system. Net profit in the first three quarters was 3.15 billion yuan, an increase of 678.64% year-on-year.
“As a consumer-oriented and medical company, Robust Medical shows the value of linking brand equity and capital market image. Shareholders become consumers and even spokespersons. Consumer affirmation will feed back into the capital market and Ultimately, you will get corporate value and capital market value. Two-way growth. ” Li Jianquan, president of Stable Medical, told the “Securities Daily” reporter that this is the best opportunity for Stable Medical in the growing business market.
Investment in R&D is growing rapidly
Continuously strengthening innovation
In the first three quarters of 2020, ChiNext companies maintained their innovative qualities and continued to increase investment in R&D. Total R&D expenses reached 57.421 million yuan, an average of 66 million yuan per company, a year-on-year increase of 10.99%. Among them, total R&D spending in the third quarter was 21.845 million yuan, an average of 25 million yuan per company, a year-on-year increase of 17.19% and a monthly increase of 13.50%. In the first three quarters, the R&D intensity of 85 companies, including Betta Pharmaceuticals, Sangfor and Flushing, reached more than 15%, an increase of 12 over the same period last year; CATL has the largest investment in R&D, with R&D expenses of up to 2.12 billion yuan, Mindray Medical, Xinwangda R&D expenses of companies such as Sangfor, Sangfor and Lansi Technology have also reached more than one billion yuan. yuan.
“After the company went public on the GEM, it not only improved the value of its brand, but also obtained funds that were useful for its development.” An executive from an Internet industry company said in an interview with a Securities Daily reporter that the digital transformation trend for companies is becoming increasingly obvious. In the background, the company used funds raised to increase investment in R&D and invested in information security and cloud computing businesses, so that the company’s business development was fully in line with market needs.
“Small and medium-sized technology enterprises are China’s main bearer of innovation and development, as well as a new force in the development of China’s high-tech industries. The growing enterprise market is an important financing channel for enterprises. small and medium-sized technology enterprises In the high-tech sector, small and medium-sized emerging technology enterprises with well-functioning, broad development prospects and strong growth have obtained funding, effectively promoting the development of the real economy through through capital “. The above-mentioned company executives further introduced that after these technology companies received funding, Continuously carry out independent innovation and transformation of scientific and technological achievements, in order to promote the development of science and technology technology and form a virtuous circle.
Heading into the fourth quarter, Dong Zhongyun believes that the central government clearly supports Shenzhen to take the lead in building the capital market. The Shenzhen Stock Exchange and ChiNext have carried the banner of reform and innovation. Related reforms are expected to continue to advance in the fourth quarter and into the future. Continue to improve the quality of publicly traded companies, help more innovative, high-quality high-tech companies develop and grow, and promote a high-level cycle of technology, capital, and real economy. In this process, the market structure of growing companies will also be further optimized to represent the most dynamic part of China’s economic development. This essentially ensures that the growth of the growing company market is expected to achieve relatively rapid growth in the long term.
