Abstract
In 2019, the overall operating conditions of Zhongguancun listed companies were stable. The number of newly listed companies has reached the new high, and the STAR Market plays the pivotal role; The stock market has raised collectively, and the total market value of Zhongguancun listed companies has reached a record high; The performance has grown steadily, and domestic listed companies have performed better than Hong Kong stocks and US stocks; R&D investment and output continue to increase, and the industry characteristics are obvious; More than 70% of corporate liabilities are current liabilities, and their solvency is higher than that of the whole country; Cash and cash equivalence continue to grow, and private enterprises are relatively difficult to finance; Accounts receivable continue to grow, and the turnover rate is lower than the national level; The number of employees continues to rise, and the per capita output is excellent and reflects industry differences. In the face of the above situation, this report states: increase the intensity of debt clearing and reduce the scale of accounts receivable; Broaden financing channels and increase capital to support private enterprises; Further reduce the tax burden of enterprises and reduce the pressure on enterprises.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
The number of ZLCs does not include the situation of secondary listing in this report.
- 2.
The capital market distribution of ZLCs only bases on companies’ initial listing locations in this report.
- 3.
From 2015 to 2018, the approval rate of A-shares was 90.94, 90.15, 76.92 and 57.51%.
- 4.
The most distinctive feature of Wind industry classification standard is that it fully draws lessons from the authoritative international standard GICS (Global Industries Classification Standard) industry classification standard. With reference to the four-level industry system of GICS, Wind fine-tuned it according to the actual situation in China, and finally established the industry classification standards that are both in line with international standards and applicable to the China market. The Wind industry contains 11 primary industry indexes (including Industrials, Materials, Health Care, Information Technology, Consumer Discretionary, Utilities, Energy, Consumer Staples, Real Estate, Telecommunication Services, Financials), There are 24 second-level industry indicators, 69 third-level industry indicators and 161 fourth-level industry indicators.
- 5.
In 2019, MEITUAN’s market capitalization rose the most, to 318.912 billion yuan, followed by JINGDONG, with a 151.479 billion yuan increase in market capitalization.
- 6.
As of the end of 2019, there were three enterprises in Telecommunication Services: China Tower, Net263 and CASC, of which CASC was a newly listed company in 2019 with a market capitalization of 45.280 billion yuan at the end of 2019, and Net263 and China Tower also both had large increases in market capitalization, with increases of 81.41% and 4.10%, respectively.
- 7.
The two companies with the largest decrease in the scale of net profit were Xinwei Group (600485.SH) and Baidu (BIDU.O). Among them, Xinwei Group's net loss increased from 2.952 billion yuan in 2018 to 18.673 billion yuan in 2019; Baidu's net profit decreased from 22.582 billion yuan in 2018 to −2.288 billion yuan in 2019.
- 8.
The actual tax burden of the enterprise = various taxes paid in the current period-tax refund received in the current period + taxes payable in the current period-taxes payable in the previous period. In addition, in view of the difficulty in obtaining the actual tax burden overseas, this report only analyzes the actual tax burden of domestic listed companies.
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2021 The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.
About this chapter
Cite this chapter
Zhongguancun Listed Companies Association (2021). The Development Report of ZLCs in 2019. In: The Competitiveness Report of Zhongguancun Listed Companies (2020). Current Chinese Economic Report Series. Springer, Singapore. https://doi.org/10.1007/978-981-33-6908-5_1
Download citation
DOI: https://doi.org/10.1007/978-981-33-6908-5_1
Published:
Publisher Name: Springer, Singapore
Print ISBN: 978-981-33-6907-8
Online ISBN: 978-981-33-6908-5
eBook Packages: Business and ManagementBusiness and Management (R0)