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上市粤企韧性凸显 研发投入成增长新引擎
Sou Hu Cai Jing·2025-05-09 23:18

Core Insights - A-share listed companies in 2024 experienced a slight decline in revenue and net profit growth, with total revenue reaching 71.92 trillion yuan, down 0.23% year-on-year, and net profit approximately 5.59 trillion yuan, down 3.71% year-on-year. However, 74.55% of companies reported profits, and 63.78% saw year-on-year net profit growth, indicating improved profitability despite overall pressures [3][4]. Industry Performance - Traditional industries such as steel, construction, and real estate faced slower growth, while emerging industries and consumer sectors became key growth drivers. Notable sectors included consumer electronics, semiconductors, and transportation, with significant profit increases in agriculture and fisheries, where 101 companies reported a combined net profit of 488.51 billion yuan, up 915.40% year-on-year [4][5]. - The electronics industry saw a year-on-year profit increase of 27.64%, ranking fourth among all industries, driven by policy support and demand recovery [4][5]. Company Highlights - The top ten companies by revenue included Sinopec and PetroChina, with revenues of 3.07 trillion yuan and 2.94 trillion yuan, respectively. BYD ranked ninth with a revenue of 777.1 billion yuan, a year-on-year increase of 29.02% [6]. - The highest net profits were concentrated in the financial and energy sectors, with Industrial and Commercial Bank of China leading at 365.86 billion yuan, followed by China Construction Bank and Agricultural Bank of China [6]. R&D Investment - Total R&D expenditure by listed companies reached 1.62 trillion yuan, a 3.1% increase year-on-year, accounting for over half of national corporate R&D spending. Companies on the Sci-Tech Innovation Board showed a 7.9% increase in R&D expenses, maintaining a high intensity of 10.8% [8][12]. - BYD led in R&D spending with 54.16 billion yuan, followed by China Construction with 45.46 billion yuan. Other significant contributors included ZTE and China Mobile, focusing on 5G and chip development [8][12]. Regional Performance - Guangdong's listed companies reported a total revenue of 10.74 trillion yuan, a 4.25% increase year-on-year, with a net profit of 670.98 billion yuan, despite a 2.98% decline. The province's companies showed a higher R&D intensity of 3.54%, surpassing the A-share average [10][12].