Innovating Vitality, Releasing A-share Listed Companies' "Mid term Exam" to Stabilize and Improve Quality
2023-08-31
In the first half of 2023, A-share listed companies embarked on an overall path of "wave like development and winding progress". According to statistics from Shanghai Securities News, as of 10:00 pm on August 30th, out of 5277 A-share listed companies, 5263 have completed the disclosure of their 2023 semi annual reports. Among them, 4248 companies achieved profits, accounting for 80.71%, a decrease of about 1.6 percentage points compared to the same period last year; The overall revenue increased by 2.57% year-on-year, while the net profit attributable to the parent company decreased slightly by 4.29% year-on-year. In the first half of this year, China's GDP reached 59.3 trillion yuan, a year-on-year increase of 5.5%. Against the backdrop of sustained economic recovery in the society, A-share listed companies shoulder the heavy responsibility of stable operation and innovation, solidly promoting high-quality development, and demonstrating the development resilience and potential of "perseverance after thousands of challenges" with a posture of "Ren Er East West North South Wind". The recovery trend in the second quarter is obvious. In the first half of 2023, 5263 A-share listed companies achieved a total operating revenue of 35.44 trillion yuan, a year-on-year (comparable companies, the same below) increase of 2.57%, accounting for nearly 60% of China's GDP during the same period; The total net profit attributable to the parent company was 2.95 trillion yuan, a year-on-year decrease of 4.29%; The net operating cash flow was 7.79 trillion yuan, a year-on-year increase of 17.89%. After excluding financial stocks and "two barrels of oil", the total revenue of A-share listed companies increased by 3.54% year-on-year, and the year-on-year decrease in total net profit attributable to the parent company further expanded to 9.94%. The month on month data shows that the operating data of A-share companies in the second quarter showed a significant rebound compared to the first quarter. In the second quarter of this year, A-share companies achieved a total revenue of 18.19 trillion yuan, a month on month increase of 7.11%. This also reflects the overall trend of China's GDP growth of 0.8% month on month in the second quarter and four consecutive quarters of growth. From an industry perspective, in the first half of 2023, 23 industries including A-share automobiles, power equipment, social services, food and beverage, and mechanical equipment achieved year-on-year revenue growth; In addition, 20 industries, including social services, agriculture, forestry, animal husbandry and fishing, automobiles, power equipment, and commercial retail, achieved a year-on-year increase in net profit attributable to the parent company. Among them, the two major industries, social services, agriculture, forestry, animal husbandry and fishing, saw a year-on-year increase in net profit of over 100% in the first half of the year. In the media sector, with an increase in the distribution of game titles, a significant recovery in film and television theaters, and the support of AI technology, multiple sub sectors, including advertising, gaming, culture and entertainment, have performed well in their six-month reports. In the gaming industry, the growth rates of Xunyou Technology, Zhejiang Digital Culture, and Baotong Technology have all exceeded 100%. Among them, Xunyou Technology, which provides "accelerators" for game players, also achieved an "acceleration" of 244.36% year-on-year growth in net profit in the first half of this year. Some cyclical industry listed companies have experienced a significant decline in their mid-term performance. For example, in industries such as steel, basic chemicals, and building materials, the year-on-year decrease in net profit attributable to the parent company in the first half of the year reached 70.79%, 52.84%, and 40.61%, respectively. Taking the steel industry as an example, since last year, due to weakened domestic downstream demand, falling steel prices, and rising raw fuel costs, the industry as a whole has entered a downward cycle
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：Shanghai Securities Daily
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