Core Insights - Chinese listed companies are accelerating their overseas expansion in response to global supply chain restructuring and intensified domestic competition, transitioning from traditional product exports to comprehensive brand and ecosystem layouts [4][30] - By June 3, 2025, the total overseas revenue of all A-share listed companies for 2024 is projected to reach 9.4 trillion yuan, an increase of nearly 8% compared to 2023, with overseas revenue accounting for 19.4% of total revenue, up 2.5 percentage points from 2023 [4][6] Group 1: Overview of Overseas Revenue - Among 5,413 A-share listed companies, 3,657 disclosed overseas business revenue in their annual reports for 2024, representing 67.6% of the total [6] - The top three companies by overseas revenue are Luxshare Precision, BYD, and Luoyang Molybdenum, with revenues exceeding 200 billion yuan, specifically 235.47 billion yuan and 221.88 billion yuan for Luxshare and BYD respectively [6][7] - The average overseas revenue for companies with overseas business is 2.58 billion yuan, with a median of 270 million yuan, indicating a significant disparity between leading companies and the overall average [6][7] Group 2: Industry Performance - In 2024, the banking industry leads in overseas revenue median at 13.23 billion yuan, with a median growth rate of 3.76%, indicating a stable internationalization trend [9] - The transportation sector shows the highest growth rate at 36.37%, driven by the expansion of new energy vehicles and infrastructure projects under the Belt and Road Initiative [9][12] - The home appliance sector has a high overseas revenue share of 34.3%, reflecting increased penetration of high-value products in international markets [9][12] Group 3: Emerging Trends and Notable Companies - A total of 176 companies have shown a consistent increase in overseas revenue share over the past three years, with at least a 10 percentage point increase in the last year [5][13] - The machinery and electrical equipment sectors have the highest number of companies with significant overseas revenue growth, with notable examples including Zoomlion and GCL-Poly Energy, which have seen substantial increases in their overseas revenue [21][23] - In the electronic information sector, companies like Inspur Information have reported significant overseas revenue growth, benefiting from the "AI+" policy and increased demand for server components [25][28] Group 4: Sector-Specific Highlights - The renewable energy equipment sector, particularly in solar and lithium battery industries, has seen remarkable growth, with companies like Gotion High-Tech reporting overseas revenue of 9.83 billion yuan [22][23] - The pharmaceutical and chemical industries have also shown strong overseas performance, with companies like Baillie Gifford achieving a 654% increase in overseas revenue [24][28] - The average overseas revenue growth for the chemical pharmaceutical sector reached 155%, with several companies reporting significant increases in their international sales [28][30]
数读出海｜去年3657家A股上市企业出海掘金 谁是新势力？
Xin Jing Bao·2025-06-12 08:19