突破600家！深圳何以成为上市公司“高产田”？

Core Viewpoint - Shenzhen's capital market has reached a milestone with the total number of listed companies exceeding 600, showcasing a diverse and balanced industrial structure with significant contributions from various sectors [1][2]. Group 1: Recent Listings and Industry Highlights - In early 2026, six companies from Shenzhen went public, including Eastroc Beverage and North Chip Life, marking a rapid increase in listings [2]. - Notable new entrants include Eastroc Beverage, a leader in the functional beverage sector, and Dazhu CNC, recognized for its comprehensive PCB equipment offerings [2]. - The emergence of these companies illustrates Shenzhen's diverse industrial landscape, spanning consumer goods, hard technology, and high-end manufacturing [2][3]. Group 2: Technological Strength and R&D Investment - Shenzhen's listed companies exhibit high technological content, with approximately 80% of new listings being from the Sci-Tech Innovation Board and Growth Enterprise Market [5][6]. - R&D investment among Shenzhen's listed companies is projected to reach 210.3 billion yuan in 2024, nearly doubling since 2020, with a significant increase in R&D spending compared to national averages [6]. - The performance of these companies is robust, with a reported revenue of 5.20 trillion yuan and a net profit of 457.8 billion yuan in the first three quarters of 2025, reflecting a year-on-year growth of 7.36% and 3.98% respectively [6][7]. Group 3: Shareholder Returns and Market Confidence - Shenzhen's listed companies have returned nearly 990 billion yuan in dividends during the "14th Five-Year Plan" period, significantly exceeding the amount raised through equity financing [7]. - In the first three quarters of 2025, 52 companies announced cash dividends totaling 50.2 billion yuan, with a payout ratio exceeding 30% [7]. Group 4: Supportive Ecosystem and Policy Framework - Shenzhen has established a comprehensive support system for high-quality development of listed companies, focusing on financing services, mergers and acquisitions, and capital market reforms [9][10]. - Direct financing for Shenzhen enterprises exceeded 2.8 trillion yuan during the "14th Five-Year Plan" period, with over 110 companies raising more than 110 billion yuan through IPOs [10]. - The city has a strong pipeline of high-tech enterprises, with over 20,000 national high-tech companies and 1,333 specialized "little giant" firms contributing to a robust reserve of potential listings [10][11].