Shang Hai Zheng Quan Bao·2025-04-28 20:33Core Viewpoint - The "Quality Return Dual Improvement" initiative launched by the Shenzhen Stock Exchange has been implemented for over a year, with 452 companies participating and focusing on enhancing core business awareness, innovation capabilities, and investor returns [1][2]. Group 1: Company Performance - Companies practicing the "Quality Return Dual Improvement" initiative have shown significant performance growth in 2024, with Changying Precision reporting a revenue of approximately 16.934 billion yuan and a net profit of about 772 million yuan, reflecting increases of 23.28% and 800.24% respectively [1]. - Zhongji Xuchuang achieved a revenue of 23.862 billion yuan and a net profit of approximately 5.171 billion yuan, with year-on-year increases of 122.64% and 137.93% respectively [1]. Group 2: Investor Returns - 452 companies have proposed practical measures to enhance investor returns, including increased cash dividends and share buybacks, with Ningde Times announcing a total cash dividend of 25.372 billion yuan for 2024 and BYD declaring a cash dividend of 12.077 billion yuan [2]. - 132 companies have responded to the new "National Nine Articles" by arranging for quarterly and mid-term dividends, with Ping An Bank implementing a mid-term dividend of 4.774 billion yuan, achieving a payout ratio of 18.4% [2]. Group 3: Market Response - Since the launch of the initiative, 232 companies have conducted share buybacks totaling 32.138 billion yuan, with Kailaiying planning to repurchase shares worth between 600 million and 1.2 billion yuan [2][3]. - Major shareholders and management have shown confidence in future company development through share purchases, with Rongsheng Petrochemical's controlling shareholder increasing holdings by 1.188 billion yuan from January to July 2024 and planning further purchases [3]. Group 4: Market Capitalization - The 452 participating companies represent a total market capitalization of 16.43 trillion yuan, accounting for nearly 50% of the Shenzhen market's total market value, with 334 companies having a market cap exceeding 10 billion yuan [4]. - The market capitalization change of these companies has outperformed the overall Shenzhen market, indicating strong market recognition of the "Quality Return Dual Improvement" concept [4]. Group 5: Innovation and R&D - Companies involved in the initiative have significantly increased their R&D investment as a percentage of revenue, with 18 companies, including iFlytek and Goldwind Technology, winning national science and technology progress awards, representing 45% of the total awarded companies in the Shenzhen market [5]. - The Shenzhen Stock Exchange aims to continue promoting the quality and investment value of listed companies through the "Quality Return Dual Improvement" initiative [5].