专精特新上市公司市值战略研究报告（2024年报）-和君咨询

Group 1 - In 2024, specialized and innovative listed companies demonstrate unique development trends amidst a complex environment, serving as core forces for innovation-driven and industrial upgrading, while facing internal competition pressure and declining fixed asset turnover rates [1][21][24] - The number of specialized and innovative listed companies accounts for 34.36% of A-shares, with a market value of 11.02 trillion yuan, and the index continues to outperform the broader market and mid-cap stocks, having risen by 10.71% as of August 5, 2025, compared to early 2021 [1][27][28] - Market value management is fundamentally about "creating value and raising expectations," with scores for value creation, value shaping, and value operation indicating areas needing improvement [1][2][36] Group 2 - The overall score for market value management of specialized and innovative listed companies in 2024 is 46.56, which is lower than the A-share average, indicating a critical window for achieving high-quality development [2] - Value creation scores at 44.78, indicating underperformance, while value shaping scores at 38.51 reflect short-sightedness and unclear investment logic [1][36] - The market value management process consists of three stages: diagnosis, strategic planning, and implementation, with recommendations to enhance value creation and increase interaction with capital markets [1][36][53] Group 3 - The specialized and innovative listed companies are primarily concentrated in manufacturing sectors such as machinery, electronics, pharmaceuticals, and chemicals, playing a crucial role in China's economic transformation from "scale expansion" to "quality breakthrough" [17][18] - The fixed asset turnover rate for these companies has been declining since 2020, reaching a historical low in 2024, signaling potential issues such as demand shrinkage and overcapacity [21][22] - The market is willing to grant a significant valuation premium to specialized and innovative companies, with a price-to-earnings ratio (TTM) of 67.20, compared to lower ratios for other indices [28][33]