证券时报·2025-10-09 03:44Core Viewpoint - The capital market serves as a barometer for the national economy, reflecting the vitality of the real economy and the direction of industrial restructuring, while also providing essential resources for industry upgrades and quality improvements [1]. Group 1: Economic Development in Henan - During the "14th Five-Year Plan" period, the number of listed companies in Henan has steadily increased, with notable companies like Muyuan Foods and Shuanghui Development leveraging the capital market to solidify their industry positions [2]. - The capital market in Henan is transitioning from "quantitative accumulation" to "qualitative enhancement," injecting financial momentum into key sectors such as grain production and advanced manufacturing [2][4]. - By the end of 2025, the number of A-share listed companies in Henan has grown from 87 to 112, leading the central region of China [4]. Group 2: Financial Performance and Capital Empowerment - Since 2021, Henan enterprises have consistently raised over 100 billion yuan through bond financing, with the total bond issuance reaching 4,958 billion yuan, doubling since 2021 [4]. - The average cost of bond issuance has decreased to 2.66%, down 212 basis points from its peak [4]. - In 2025, the revenue of Muyuan Foods is projected to grow from 56.3 billion yuan in 2020 to 137.9 billion yuan [4]. Group 3: Technological Advancements and R&D Investment - Muyuan Foods has significantly increased its investment in R&D, focusing on smart farming and disease prevention, with a total of 2,276 patents filed by the end of 2024 [5]. - The overall R&D intensity of listed companies in Henan reached 5.57% in 2024, an increase of 2.5 percentage points year-on-year [10]. - The company Duofuduo has successfully raised 2 billion yuan for technological upgrades and capacity expansion in lithium battery materials [5]. Group 4: Investor Returns and Dividend Distribution - In 2025, Shuanghui Development announced a cash dividend of 2.65 billion yuan, representing 96.94% of its net profit for the period [11]. - Muyuan Foods has distributed nearly 18 billion yuan in dividends from 2021 to mid-2025, with a record high of over 5 billion yuan in the first half of 2025 [11]. - The cumulative cash dividends of Luoyang Molybdenum Co. reached 21.56 billion yuan since its listing in 2012, with over 12 billion yuan distributed during the "14th Five-Year Plan" period [11]. Group 5: Financial Tools and Market Integration - The Zhengzhou Commodity Exchange has listed 27 futures and 20 options products, capturing 35.03% of the national futures market share [13]. - The exchange has provided risk management services to over 700 enterprises, with agricultural insurance and futures business covering 3.914 billion yuan [14]. - The province has successfully issued various REITs products, enhancing the financing channels for traditional industries [15][16].