天津证监局：营造规范有序天津资本市场生态

Core Viewpoint - The Tianjin Securities Regulatory Bureau emphasizes the importance of risk prevention, strong regulation, and promoting high-quality development in the capital market during the "14th Five-Year Plan" period, aiming to support the development of new productive forces and meet the needs of the real economy [1][2]. Group 1: Financial Performance and Market Growth - Over the past five years, Tianjin's listed companies have distributed cash dividends exceeding 170 billion yuan, which is 7.5 times that of the "13th Five-Year Plan" period and three times the stock financing during the same period [1][2]. - The average dividend yield for listed companies in Tianjin is 3.08%, surpassing the returns from household savings [2]. - The scale of equity funds has increased from less than 80 billion yuan to over 210 billion yuan, representing a growth of 1.7 times compared to the "13th Five-Year Plan" period [1][2]. Group 2: R&D Investment and Innovation - The total R&D investment by listed companies in Tianjin has exceeded 100 billion yuan, showing an increase of nearly 80% compared to the "13th Five-Year Plan" period [1]. - The overall R&D intensity of listed companies in Tianjin is 3.01%, with key industry chain companies at 7.64% and companies on the Science and Technology Innovation Board at 28.16% [2][3]. Group 3: Capital Market Development - The wealth management scale of industry institutions in Tianjin's capital market has surpassed 22 trillion yuan, with a total of 4.68 million securities accounts, marking a 20% increase since the "13th Five-Year Plan" [2]. - The issuance scale of science and technology innovation bonds in Tianjin has exceeded 24.8 billion yuan, with an average annual compound growth rate of 49% over the past three years [3]. Group 4: Mergers and Acquisitions - During the "14th Five-Year Plan" period, the amount of mergers and acquisitions by listed companies in Tianjin exceeded 26 billion yuan, with six companies achieving upgrades through major asset restructuring [4]. - The scale of venture capital funds has reached 159.4 billion yuan, reflecting a 75% increase compared to the end of the "13th Five-Year Plan" [4]. Group 5: Support for High-Quality Companies - The Tianjin Securities Regulatory Bureau aims to enhance its service capabilities for the entire lifecycle of technology companies and support quality enterprises in listing and restructuring [5][6]. - The focus is on creating a patient capital ecosystem to foster innovation capital formation and ensure a stable development foundation for Tianjin's capital market [6].