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Shenzhen Companies Thrive in 2023 Despite Challenges: Third Quarterly Report

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Shenzhen Companies Achieve Growth in First Three Quarters of 2023

In the midst of challenges and opportunities, Shenzhen companies have continued to invest in expanding production and achieved positive results in the first three quarters of 2023, according to the Shenzhen Stock Exchange. The overall operating income of Shenzhen companies maintained a growth trend, with leading companies playing a significant role in the city’s economic development.

During the period from January to September 2023, Shenzhen companies recorded a total operating income of 15.06 trillion yuan, representing a year-on-year increase of 4.19%. However, the total net profit amounted to 881.264 billion yuan, reflecting a year-on-year decrease of 7.30%. Despite this decline, 2,216 companies on the Shenzhen Stock Exchange were profitable, accounting for 78.30% of all listed companies. Among them, 1,132 companies achieved profits of more than 100 million yuan, and 353 companies achieved profits of more than 500 million yuan. Notably, the net profits of 269 companies increased by more than 100% year-on-year.

The leading enterprises in Shenzhen stood out, performing steadily and surpassing the city’s overall level. As of October 31, 33 companies on the Shenzhen Stock Exchange had a market value exceeding 100 billion yuan. These companies achieved a total operating income of 3.37 trillion yuan in the first three quarters, a year-on-year increase of 10.67%. Their net profit also increased by 14.89% to reach 318.271 billion yuan. Notable companies such as BYD, CATL, Vanke A, and Midea Group surpassed 100 billion yuan in revenue, while Ping An Bank, CATL, and Midea Group recorded net profits exceeding 10 billion yuan.

In terms of sectors, the main board companies demonstrated steady revenue growth, and 40% of these companies observed a year-on-year increase in net profits. The average operating income of the top 100 companies on the main board was 50.807 billion yuan, while their net profit reached 4.411 billion yuan, representing year-on-year increases of 6.94% and 0.64% respectively. On the other hand, the Growth Enterprises Market (GEM) showcased strong revenue growth, leading the overall A-share market. In the first three quarters, the average operating income and net profit of 893 strategic emerging industry companies on the GEM were 2.112 billion yuan and 184 million yuan respectively, representing year-on-year increases of 11.76% and 2.11% respectively.

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The first three quarters of 2023 also marked the beginning of a new round of state-owned enterprise reform. Shenzhen City, which boasts 612 state-owned listed companies, witnessed a steady increase in the performance of these entities. The state-owned listed companies achieved a total operating income of 5.49 trillion yuan, a year-on-year increase of 2.05%. Notably, 131 companies reported a net profit increase of more than 50%.

Additionally, private enterprises played a vital role in driving sustained economic development. With 1,940 private listed companies in Shenzhen, they accounted for 68.55% of all companies in the city. These enterprises demonstrated recovery and improvement in their operations, with operating incomes and net profits increasing quarter by quarter. In the second and third quarters, net profits rose by 17.91% and 3.74% respectively.

Furthermore, Shenzhen’s advanced manufacturing, digital economy, and green and low-carbon sectors exhibited strong momentum in the first three quarters of 2023. Listed companies in these three key areas achieved an average operating income of 5.318 billion yuan, representing a year-on-year increase of 8.17%. The green and low-carbon sector, in particular, showcased excellent performance, with power battery leader CATL observing a year-on-year increase of 40.10% in operating income and 77.05% in net profit. The automotive industry leader BYD recorded increases of 57.75% and 129.47% respectively in operating income and net profit.

The advanced manufacturing field also registered significant growth, with high-end equipment manufacturing industry companies achieving a total operating income of 1.55 trillion yuan, a year-on-year increase of 27.34%, and a total net profit of 120.647 billion yuan, reflecting a 53.89% increase compared to the previous year.

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The digital economy sector experienced steady progress, with total operating income reaching 1.67 trillion yuan and a year-on-year increase of 1.94% for 430 companies. Notably, the big data industry achieved a total operating income of 282.802 billion yuan, while the AI computing power industry recorded 183.1 billion yuan in operating income.

Overall, the performance of Shenzhen companies in the first three quarters of 2023 indicates a positive trend towards recovery and growth. With a mix of challenges and opportunities, these companies have demonstrated resilience and an ability to adapt to changing market conditions. However, investors are advised to exercise caution and consider the information provided as reference rather than definitive investment advice.

*Disclaimer: The securities Times strives to provide true and accurate information. However, the content mentioned in this article is for reference only and does not constitute substitution investment advice. Any operations conducted based on this information are done at your own risk. For the latest stock market trends, policy information, and wealth opportunities, readers are encouraged to download the official APP of “Securities Times” or follow the official WeChat account.

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