“Dang! Dang! Dang!” On the morning of August 4, the listing bell of the Deep Water Regulatory Institute rang at the Shenzhen Stock Exchange. So far, there are 1,000 listed companies on the GEM, accounting for 22.55% of the total number of A-share companies; the total market value is 13.55 trillion yuan, accounting for 15.86% of the total market value of A-shares.
From 0 to 1,000, ChiNext helps a large number of growing companies go public and achieve leapfrog development!
Up to now, GEM companies have raised a total of 562.6 billion yuan in IPO financing, and raised another 437.7 billion yuan, and the amount of equity financing exceeded 1 trillion yuan. Funds are directly invested in the field of innovation and entrepreneurship, and vigorously promote the development of the new economy.
From 0 to 1,000, ChiNext has won the favor of a large number of innovative companies, forming a new economic gathering highland!
The ChiNext is based on nine strategic emerging industries. Among the 1,000 ChiNext companies, there are 915 high-tech enterprises and 586 strategic emerging industry enterprises.
From 0 to 1000, GEM attracts a large number of domestic and foreign investors to participate, sharing the economic development dividend!
1,000 GEM companies accumulativelyDividends237.5 billion yuan; after the restoration of rights, the share prices of 628 GEM companies have increased by more than 100% over the issue price;Growth Enterprise Market IndexSince 2020, the cumulative increase has exceeded 90%, ranking among the top global indexes.
Insert “wings of take-off” for entrepreneurs and entrepreneurs
From the listing of the first batch of companies to the breakthrough of 1,000 listed companies, the Growth Enterprise Market has effectively played its direct financing function, injecting vitality into the development of entrepreneurial entrepreneurship and entrepreneurship, and promoting the development of the new economy.
The Growth Enterprise Market allows more new-economy companies in the growth stage to land on the capital market and achieve leapfrog development.
Credit communicationWhen listed in 2010Operating incomeOnly 140 million yuan,Net profitLess than 50 million yuan. By 2020, the revenue has reached 6.394 billion yuan, and the net profit is nearly 1 billion yuan, making it the world‘s leading supplier of pan-radio frequency components.
The GEM’s refinancing function was effectively brought into play, and the bottleneck of corporate funds was cleared in a timely manner.
Lens TechnologyPass orientation before 2020Additional issuance,IPOConvertible bondA total of 8 billion yuan has been raised, and related projects have contributed more than 4 billion yuan in revenue, which has consolidated the company’s leading position in the field of consumer electronic protective glass; after the revision of the refinancing system in February 2020, the company launched a fixed increase plan in April of that year. 15 billion yuan was raised for projects such as 3D touch panel and production supporting equipment. The raised funds were in place in December of that year, and related projects are progressing as scheduled.
At the same time, the ChiNext gives full play to the advantages of the platform and supports the company to passM&AReorganizationRealize industrial integration and transformation and upgrading.
Aier OphthalmologyIs one of the typical. Since its listing, the company has acquired eye hospitals around its main business and rapidly increased its market share. The annual operating income has increased from 439 million yuan before the listing to 11.912 billion yuan, and the market value has grown from 3.738 billion yuan at the beginning of the listing to more than 310 billion yuan. , To become a well-deserved industry leader in China. As of July 31, GEM listed companies have implemented 459 reorganizations, with a total transaction amount of 421 billion yuan.
“Mergers and acquisitionsIt is an important path for the optimal allocation of resources and an effective means to improve the company’s quality. The active restructuring of the ChiNext not only puts pressure on the listed companies of entrepreneurship and entrepreneurship, requiring them to protect their market value to achieve growth, but also provides opportunities for some entrepreneurship and entrepreneurship companies to achieve rapid extensional growth through mergers and acquisitions. Tian Lihui, Dean of the Institute of Financial Development of Nankai University, said that the ChiNext has promoted the high-quality development of domestic entrepreneurial and entrepreneurial companies. The new force of the enterprise.
Create a new economic gathering highland
The “14th Five-Year Plan” proposes to focus on new-generation information technology, biotechnology, new energy and other emerging industries, accelerate the innovation and application of key core technologies, enhance the ability to guarantee elements, and cultivate new momentum for industrial development.
The Growth Enterprise Market has always implemented the innovation-driven development strategy to lay a solid “foundation” for the further development of the new economy. Four industries, including new-generation information technology, biomedicine, new materials, and high-end equipment manufacturing, have shown obvious agglomeration effects on the Growth Enterprise Market, with the total number of companies accounting for nearly 50%.
Take the biomedical field as an example. The 95 biomedical companies on the ChiNext have a market value of 2.78 trillion yuan, accounting for 21% of the ChiNext’s market value. The company’s business coversPharmaceutical manufacturing, Genetic testing, medical equipment, biological products and other fields.
GEM companies live up to their expectations and continue to improve their R&D capabilities to better support technological innovation, industrial chain supply chain innovation, production service innovation, and digital innovation.
From 2009 to 2020, the cumulative total R&D investment of 1,000 companies on the ChiNext Board is 497.279 billion yuan, and the overall R&D intensity continues to increase. In 2020,Ningde era、Mindray Medical、Inovance TechnologyWaiting for the company to invest more than 1 billion yuan in research and development in a single year,Yiwei Lithium Energy、ZhifeiThe R&D intensity of 46 companies has exceeded 20%, and the R&D intensity of 187 companies has exceeded 10%, providing continuous impetus for the company’s development.
In helping the new pattern of dual-cycle development, GEM companies rely on the domestic market and industrial system to build their own core competitiveness, have more than 130,000 core patented technologies related to their main business, and have strong technological innovations.ShinwaseiAs a result of the transformation ability, nearly 60% of the company’s products and technologies have also achieved import substitution, solving a number of “stuck neck” technical problems.
On the other hand, we adhere to open innovation and participate in the construction of global industrial value chains, which will add impetus to the construction of a new development pattern in which domestic and international dual cycles are the mainstay and the mutual promotion of domestic and international cycles. In the fields of communications, mobile information technology, and the Internet of Things, ChiNext companies have gradually moved from “accompanying” to “leading” stage.
In addition, ChiNext companies continue to innovate in key areas, greatly improve industry production efficiency, promote the transformation and optimization of the industry structure, and inject new vitality into the transformation and upgrading of the national economy.
Such as the offline retail field,Winner TechnologyUsing artificial intelligence and big data technology to promote the digital upgrade of physical businesses, it has provided various digital products and services for more than 2,000 shopping malls and more than 50,000 branded retail stores in China. The “Huike Cloud” platform is statistically analyzed offline every year. The passenger flow exceeds 15 billion.
Investment value highlights
After more than ten years of hard work, the Growth Enterprise Market has attracted a number of leading companies to gather, and high-quality development groups have emerged.
As of July 31, 18 companies on the Growth Enterprise Market had a market value of more than 100 billion yuan.Growth Enterprise MarketNingde eraAs a representative company of the new economy, in 2021, it will rank among the top five in A stock market value for the first time, demonstrating the true nature of the rise of China’s new economy.
In 2020, the total operating income of 24 companies on the ChiNext will exceed 10 billion yuan, and the net profit of 29 companies will exceed 1 billion yuan. The average operating income and net profit of the top 100 companies ranked on the GEM by market capitalization in 2020 were 8.656 billion yuan and 1.136 billion yuan, an increase of 20.53% and 41.69% year-on-year respectively.
In addition to high-quality development, the company also actively “feeds back” investors.In cash dividends andRepurchaseOn the one hand, 1,000 ChiNext companies have distributed a total of 237.5 billion yuan in dividends.
In terms of stock investment appreciation, as of July 31, the stock prices of 922 companies were higher than the issue price after the restoration. Among them, the stock prices of 628 companies were more than 100% higher than the issue price after the restoration.Yiwei Lithium Energy、Aier Ophthalmology、Leading Intelligence、Kangtai BioAfter the restoration of rights, the stock price has increased by as much as 11025%, 7764%, 6971%, and 5736% from the issue price. In terms of index performance, since 2020, the growth rate of the ChiNext Index has exceeded 90%, ranking among the top global indexes.
At the same time, the ecology of the ChiNext market has continued to be optimized, and the proportion of institutional investors has continued to rise. The data shows that the share of institutional investors holding the market value of circulation rose from 3.56% at the end of 2009 to the current 49.84%. The average account assets of GEM investors is 1,171,500 yuan, which is significantly higher than the 290,300 yuan of the overall investors in Shenzhen Stock Exchange. Nearly 90% of the account transactions have been experienced for two years. The effective implementation of the investor suitability system provides an important guarantee for the smooth operation and development of the market.
(Source: China Securities Journal)
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