Zheng Quan Shi Bao·2026-01-21 21:41Core Viewpoint - The continuous deepening of capital market reforms in Zhejiang has strengthened the multi-level market foundation, promoting a vigorous development of the regional capital ecosystem, with state-owned listed companies leading the way in high-quality development during the 14th Five-Year Plan period [1] Group 1: Growth of State-Owned Listed Companies - By the end of 2025, the number of state-owned listed companies in Zhejiang (excluding Ningbo) is expected to reach 53, an increase of 15 companies or nearly 40% from the end of 2020 [1] - Over the five years, there have been 8 IPOs and 7 state-owned acquisitions, driving both organic growth and external mergers and acquisitions [1] - The total market capitalization of state-owned listed companies in Zhejiang increased from 511.88 billion yuan at the end of 2020 to 836.70 billion yuan by the end of 2025, a growth of 63.46% [3] Group 2: Financial Performance - In 2024, the total revenue of state-owned listed companies in Zhejiang reached 1,409.81 billion yuan, a 44.42% increase from 2020, while net profit was 33.47 billion yuan, up 10.59% [5] - By the third quarter of 2025, these companies achieved a revenue of 1,015.79 billion yuan and a net profit of 30.98 billion yuan [5] - The total assets of these companies grew from 1,120.74 billion yuan at the end of 2020 to 1,750.79 billion yuan by the third quarter of 2025, marking a 56.22% increase [4] Group 3: Capital Market Operations - During the 14th Five-Year Plan, 8 state-owned enterprises in Zhejiang raised 9.47 billion yuan through IPOs, while 15 companies raised a total of 37.58 billion yuan through various refinancing tools [7] - The active mergers and acquisitions in the region involved 98 transactions totaling 52.36 billion yuan, with significant asset restructuring cases [8] - The successful listing of subsidiary companies, such as Wuchan Zhongda's spin-off of Wuchan Huaneng, exemplifies effective capital market operations [10] Group 4: Innovation and R&D Investment - R&D expenditure for state-owned listed companies in Zhejiang reached 10.42 billion yuan in 2024, a more than 60% increase from 6.48 billion yuan in 2020 [4] - The number of patents held by these companies exceeded 6,000 by the end of 2024, reflecting a 55.15% growth since 2020 [4] Group 5: Investor Relations and Social Responsibility - State-owned listed companies in Zhejiang distributed a total of 58.39 billion yuan in cash dividends during the 14th Five-Year Plan, a 45.96% increase compared to the previous five years [11] - In 2025, cash dividends reached a record high of 15.16 billion yuan, up 63.82% from 2020 [11] - The companies have actively engaged in social responsibility initiatives, such as ensuring energy supply and promoting employment through trade platform development [12]