The Growth Report of Zhongguancun NEEQ-listed Companies released in Beijing
The Zhongguancun Listed Companies Association and Social Sciences Academic Press held a conference on the Blue Book of Zhongguancun Companies: the 2019 Growth Report of Zhongguancun National Equities Exchange and Quotations (NEEQ)-listed Companies in Beijing on September 27, 2019.
Leaders and experts from the Beijing Securities Regulatory Bureau, the Beijing Municipal Bureau of Financial Work, NEEQ, the Zhongguancun Administrative Committee, the Zhongguancun Intellectual Property Promotion Bureau and Haidian District attended the meeting.
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The 2019 Growth Report of Zhongguancun NEEQ-listed Companies is released at the conference. [Photo provided to chinadaily.com.cn] |
The Report, focusing on the deepening reform of NEEQ, researches the profitability, solvency, operational capability, innovation capability and industry distribution of Zhongguancun NEEQ-listed companies in 2018, analyzes their status quo and difficulties, and puts forward corresponding policy recommendations. In addition, it reviews the potential of Zhongguancun NEEQ-listed companies in scientific and technological innovation.
Performance of the continuously-operated enterprises has grown steadily but profitability needs to be improved.
The number of Zhongguancun NEEQ-listed companies decreased in 2018, and the total revenue and net profit of the listed companies also declined.
The decline was mainly due to reduction in the number of listed companies rather than poor management, and the performance of the continuously-operated enterprises grew steadily. Overall, however, the profitability of Zhongguancun NEEQ-listed companies needs to be improved.
Investment in research and development continued to grow, and the awareness of innovation and development continued to increase.
In 2018, although the overall revenue and net profit of Zhongguancun NEEQ-listed companies showed different degrees of decline, this did not affect their investment in R&D innovation.
After the first decline in total R&D expenses and average R&D expenses in 2017, the R&D expenses of Zhongguancun NEEQ-listed companies rallied in 2018, with total R&D investment reaching 10.030 billion CNY. In terms of innovation output, the number of patent applications for Zhongguancun NEEQ-listed companies was 3,365 in 2018, and the number of patent grants reached 2,144 for the first time.
The accounts receivable of continuously-operated enterprises have risen, and the pressure on enterprises to collect them was relatively high.
By the end of 2018, the overall accounts receivable of Zhongguancun NEEQ-listed companies was 59.66 billion yuan, and the total amounts receivable decreased by 8.58% year-on-year due to the decrease in the number of delisted enterprises.
The average accounts receivable were 48.75 million yuan, up 7.90% year-on-year. In 2018, the pressure on the continuously-listed Zhongguancun companies to collect outstanding accounts receivable continued to rise.
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Chen Wenqi, member of the Zhongguancun Administrative Committee delivers a speech at the event. [Photo provided to chinadaily.com.cn] |
The 2018 list of the Top 30 Zhongguancun NEEQ-listed companies for growth was also released at the meeting. The list included: Sinosoft, Elex, Ucar, Hisign Technology, Yonyou Fintech, Nutrichem, Since Times, Uxsino, Hollycrm, Nine Stars, and iPaynow.
Judging from the development of Zhongguancun NEEQ-listed companies in the past six years, they faced unprecedented challenges in 2018 but their R&D expenses and R&D intensity continued to rise, showing their strong potential for scientific and technological innovation.
Under these circumstances, it is recommended that Zhongguancun NEEQ-listed companies strengthen their confidence, focus on their core products and technologies, plan development paths, and seize market opportunities to develop and expand, thereby attracting more investors' attention and achieving healthy development. Meanwhile, it is expected that relevant government departments will continue to deepen reforms and improve the trading system.
The Zhongguancun Listed Companies Association is a national association organized by Zhongguancun listed companies. Since its establishment, it has published the competitiveness report on listed companies in Zhongguancun for seven consecutive years, providing basic data for policy research.
In June 2018, the association was formally designated a think tank of the Beijing Municipal Federation of Industry and Commerce participating in the administration of state affairs.
