上市公司展现出较强发展韧性！西藏：打造区域特色资本市场“西藏板块”

Core Viewpoint - Tibet is focusing on developing a capital market with regional characteristics, high quality, and strong competitiveness, referred to as the "Tibet Plate" [1] Group 1: Economic Growth and Capital Market Development - Tibet's GDP has grown from 32.7 million in 1965 to 276.5 billion in 2024, a 154-fold increase with an average annual growth rate of 8.9% [1] - In 2024, 22 A-share listed companies in Tibet achieved a net profit of 5.602 billion, a year-on-year increase of 4.24%, and contributed 2.483 billion in taxes, accounting for 14% of Tibet's tax revenue [1] Group 2: Financing and Corporate Strengthening - Since the beginning of 2024, various enterprises in Tibet have achieved direct financing of 36.713 billion through multi-level capital markets, with the average interest rate of newly issued corporate bonds dropping to 2.49%, a decrease of 36.96% [2] - Tibet Development Co., Ltd. announced plans to acquire the remaining 50% stake in Lhasa Beer from Carlsberg International, enhancing its core competitiveness [2] Group 3: Investor Engagement and Value Enhancement - In 2024, Tibet's listed companies conducted 24 cash dividend distributions totaling 3.742 billion, representing a year-on-year increase of 20% and 16.07%, with a payout ratio rising from 60% to 67% [3] - 11 listed companies have implemented buybacks totaling 1.078 billion, while 3 companies utilized relending tools for buybacks and increases, amounting to 185 million [3] Group 4: Capital Market Structure and Policy Support - The capital market in Tibet is characterized by a late start and slow development, with efforts focused on top-level design to enhance the competitiveness of local enterprises [4] - The government aims to strengthen the cultivation of characteristic industries and improve the willingness and capability of enterprises to utilize the capital market [4] Group 5: Future Directions - The capital market in Tibet will focus on leveraging the integration function of listed companies to attract advanced technologies, management teams, and marketing channels, aiming to create a large enterprise that drives an entire industry chain [5]