A-share Semi-Annual Reports Show Positive Growth in Various Industries
The A-share semi-annual report has come to a close, revealing positive growth in various industries. As of August 30, a total of 5,218 listed companies have disclosed their semi-annual reports. Of these, 2,698 companies have achieved a year-on-year increase in net profit attributable to shareholders, accounting for 51.71% of the total.
The telecom operators, photovoltaic, new energy vehicles, and lithium battery industries stood out for their strong performance. These industries saw significant growth and contributed to the overall positive results of the semi-annual reports.
In terms of dividends, 187 companies plan to pay dividends in the mid-term. Despite a decline in some leading companies’ performance, their enthusiasm for dividend distribution remains high. Their optimism about the market recovery in the second half of the year is driving their confidence in paying mid-term dividends.
Among the disclosed reports, more than 600 companies have seen their net profit double. Additionally, 1,828 listed companies have achieved a net profit of over 100 million yuan, with 344 companies exceeding 1 billion yuan and 46 companies exceeding 10 billion yuan. Excluding financial stocks, PetroChina, China Mobile, and CNOOC ranked first in terms of net profit.
In terms of net profit growth, 2,243 listed companies saw an increase of more than 10%, with 1,125 companies experiencing growth of over 50% and 641 companies achieving growth of over 100%. Many industries, such as scenic spots, tourism, catering, and film, saw remarkable growth in net profit due to the industry’s increasing prosperity.
In specific industries, the telecom operators, photovoltaics, new energy vehicles, and lithium batteries performed exceptionally well. As the development barometer of the telecom industry, the financial reports of China Telecom, China Unicom, and China Mobile attracted significant attention. These three major operators achieved overall growth in their operating performance, with strong growth in industrial digitalization and cloud business.
The photovoltaic industry also experienced substantial growth. In the first half of the year, China’s newly installed photovoltaic capacity increased by 154% year-on-year, driven by accelerated construction projects. This growth positively impacted the performance of companies in the photovoltaic industry chain.
For example, Tongwei Co., Ltd., known as “Silicon Mao,” achieved a significant year-on-year increase in both total operating income and net profit attributable to shareholders. The company has formed significant production capacity in the photovoltaic industry.
Similarly, the penetration rate of new energy vehicles continues to rise, benefiting companies across the entire industrial chain. Leading companies, such as BYD and Ningde Times, reported substantial increases in operating income and net profit during the reporting period.
On the other hand, listed companies in cyclical industries such as coal mining, steel, and cement faced poor performance.
Regarding dividends, 187 companies have planned to pay dividends in the mid-term. Many leading listed companies have steadily increased their cash dividends year-on-year. China Mobile, for example, announced an increase in dividends and remained optimistic about the market recovery in the coming months.
Sinopec, despite a decrease in net profit, plans to distribute cash dividends to shareholders, ensuring a mid-term dividend ratio of 49.5%.
In addition, 10 listed companies have released their 2023 semi-annual profit distribution plans, some of which involve transfers. Notably, Dingzhi Technology, Shanwaishan, Xingqi Eye Medicine, and Dayang Biotech also distributed cash dividends along with their transfers.
According to Pan Helin, co-director and researcher of the Digital Economy and Financial Innovation Research Center of Zhejiang University International Joint Business School, A-share listed companies are increasingly aware of the importance of actively paying dividends. This indicates that these companies have sufficient cash reserves, which bodes well for their future performance.
As the number of A-share performance forecasts for the third quarter continues to increase, 26 listed companies have already disclosed their forecasts. Out of these, 11 companies have pre-congratulated, with seven expecting a slight increase, three anticipating significant growth, and one forecasting continued profitability.
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(Source: China Securities Journal)
Article source: China Securities Journal
Original title: Tonight, be steady!