上市公司高质量发展

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江苏证监局健全常态化走访机制 持续助力上市公司提升投资价值
Zheng Quan Shi Bao Wang· 2025-08-22 09:57
Group 1 - Jiangsu Securities Regulatory Bureau has enhanced its regular visiting mechanism for listed companies, achieving a coverage rate of 64.78% by visiting 458 companies as of July 31, 2023, and resolving 446 issues to promote better development [1] - The bureau focuses on key industries, such as automotive and home appliances, to help companies leverage national policies for quality improvement and efficiency, with nearly 90% of related companies achieving profitability [2] - In the pharmaceutical sector, the bureau has guided innovative drug companies to utilize capital markets for upgrades, with one company successfully obtaining FDA approval for a new drug [2] Group 2 - The bureau supports listed companies in financing and mergers, with equity financing reaching 51.233 billion yuan from January to July 2023, and 209 new merger and acquisition disclosures, totaling over 65.084 billion yuan [3] - A total of 83 listed companies in Jiangsu have announced buyback or increase plans, amounting to 15.924 billion yuan, while 160 companies plan to conduct mid-term dividends, a 11.72% increase year-on-year [4] - The bureau has established strategic cooperation agreements with 13 cities to enhance communication and support for listed companies, leading to the stable delisting of 6 ST companies this year [5]
有关并购重组、上市公司高质量发展!调研500多家上市公司,他写了这本《硬道理》!
Sou Hu Cai Jing· 2025-08-18 02:01
宋志平做企业40年,在中国建材集团和国药集团任职期间,有18年上市公司董事长的经验,在他从上市 公司"运动员"转身成为"教练员",任职中国上市公司协会会长6年多来,调研了500多家上市公司,100 多家非上市公司。 ▲宋志平,著名经营管理专家、中国上市公司协会会长、总裁读书会全国领读者联 他把近些年对众多企业的观察、思考、与企业家的交流体会,以及自己做企业的经验融汇一炉,写就出 了现在的这本新书《硬道理》。 ...
领悟“十项修炼”精髓,把握高质量发展关键
证券时报· 2025-08-15 00:09
他进一步指出,我国企业的品牌建设正面临着前所未有的机遇和挑战,企业一把手的角色已从单纯的经济组织 领导者,演变为社会价值的创造者、产业变革的引领者、文化精神的传播者。 关于市值管理。宋志平认为,市值管理应该成为上市公司的重要战略。通过市值管理,上市公司能够向市场有 效传递公司的价值和增长潜力,从而吸引更多的投资者,为股东创造更多回报。战略统筹、拥抱创新、股权激 励、市值考核,是做好市值管理的四个重要维度。 上市公司治理是一个常谈常新的话题。 在高质量发展成为中国经济增长的主旋律与关键词的当下,作为经济舞台上的主角,A股5400余家上市公司如 何提升治理水平,从而在高质量发展的道路上大显身手,成为一道必答题。宋志平先生的新作——《硬道理 ——上市公司高质量发展的十项修炼》为众多正在作答的企业家提供了一个内涵丰富、很有价值的参考读本。 宋志平是业内知名的本土派经营管理大家,长期在一线摸爬滚打,先后带领两家央企实现脱胎换骨,跻身《财 富》世界500强行列。卸下央企经营管理重担后,他又出任中国上市公司协会会长,深入调研了近500家上市 公司,对如何提高上市公司质量有着深刻的见解。工作之余,他勤于思考,笔耕不辍,先后出 ...
证监会最新表态
水皮More· 2025-08-08 10:35
Core Viewpoint - The China Securities Regulatory Commission (CSRC) aims to enhance the attractiveness and inclusiveness of the capital market through steady reforms and high-level institutional opening [2][3]. Group 1: Capital Market Opening - The CSRC will continue to promote high-level institutional opening of the capital market, focusing on reform and development, and will systematically study the overall layout and implementation paths for foreign capital market opening [3]. - There will be a coordinated development between onshore and offshore markets, with efforts to deepen all-around market, product, and institutional opening, while expanding cross-border cooperation to attract more international capital [3]. Group 2: IPO Regulation - The CSRC will maintain strict control over the IPO entry, ensuring that there will not be a large-scale expansion of listings, addressing concerns about increased inclusiveness leading to excessive IPOs [4]. - The global market is adapting to technological trends and enhancing institutional innovation, which in turn promotes the vitality and strength of the secondary market [4]. Group 3: Long-term Capital Development - The CSRC will focus on cultivating and strengthening long-term and patient capital, advancing comprehensive reforms to enhance the attractiveness and inclusiveness of the domestic capital market [5]. - There will be an emphasis on developing a policy system that supports long-term investments, promoting the entry of medium- and long-term funds into the market, and reforming public funds [5]. - The CSRC aims to deepen reforms in the Science and Technology Innovation Board and the Growth Enterprise Market, focusing on diverse equity financing and improving the service system for various enterprises throughout their lifecycle [5][6].
宋志平:上市公司高质量发展的十项修炼
凤凰网财经· 2025-08-06 13:45
Core Viewpoint - The book "Hard Truths" by Song Zhiping outlines ten essential practices for high-quality development of listed companies in China, emphasizing the importance of governance, innovation, and social responsibility in enhancing corporate value and market competitiveness [2][3][5]. Summary by Sections 1. Ten Practices for High-Quality Development - There are over 5,400 listed companies in China, contributing 53% of the national GDP and 26% of tax revenue, highlighting their significant role in the economy [3]. - Companies must shift focus from product markets to capital markets post-listing, recognizing the importance of both customer bases [3]. - Song Zhiping's extensive experience in leading state-owned enterprises into the Fortune Global 500 provides a solid foundation for his insights on corporate governance and development [3]. 2. Structure of the Book - "Hard Truths" consists of 260,000 words divided into ten chapters, each representing a practice derived from Song's theoretical and practical experiences [5]. - Each chapter is structured into three sections, with a total of 108 subsections, each presenting a viewpoint on corporate management [5]. 3. Key Practices - Governance: Emphasizes the importance of independence, compliance, and transparency in corporate governance [5]. - Shareholder Returns: Discusses the significance of market value management, dividends, and sustainable operations [6]. - Dual Circulation Market: Offers strategies for domestic market positioning and international expansion, including overseas mergers and acquisitions [6]. 4. Case Studies and Examples - The book includes over 200 small case studies and 10 major case studies from various industries, showcasing successful practices from companies like Midea Group and Ningde Times [12][10]. - Each chapter concludes with exemplary companies that embody the respective practice, providing practical insights for readers [12]. 5. Policy and Regulatory Insights - The book integrates interpretations of relevant national policies and regulations, such as the OECD Corporate Governance Principles and the Company Law, to guide corporate leaders [15]. - Song Zhiping's focus on current policies and industry trends ensures the content remains relevant to contemporary corporate challenges [14]. 6. Practical Application - The book serves as a guide for executives of listed companies and those aspiring to enter the capital market, offering actionable insights and strategies for high-quality corporate governance and development [17].
走访上市公司 推动上市公司高质量发展系列(二十一)
证监会发布· 2025-08-01 10:13
Core Viewpoint - The article emphasizes the importance of regular visits and communication between regulatory bodies and listed companies to facilitate high-quality development in the capital market [3][4][5][6][7][8][15][16]. Group 1: Shanxi Securities Regulatory Bureau Initiatives - Shanxi Securities Regulatory Bureau has implemented a regular visiting mechanism to listen to market voices and address challenges faced by listed companies [3]. - The bureau has collaborated with local government and financial authorities to enhance the effectiveness of the visiting program, focusing on understanding business models and operational difficulties [3][4]. - As of now, 22 listed companies have been visited, covering 57.89% of the region, with 29 issues raised and 13 effectively resolved, representing 44.83% of the total [4][5]. Group 2: Financial Performance and Corporate Actions - In 2024, listed companies in Shanxi have distributed cash dividends 47 times, totaling 48.227 billion yuan, with an average dividend per company of 11.76 million yuan, ranking fifth nationally [5]. - The companies have also engaged in share buybacks totaling 1.602 billion yuan and announced 13 rounds of shareholding increases amounting to 265 million yuan [5]. Group 3: Liaoning Securities Regulatory Bureau Initiatives - Liaoning Securities Regulatory Bureau has conducted in-depth visits to understand the actual difficulties faced by listed companies, promoting high-quality development [7][8]. - The bureau has reported over 62 restructuring plans since the implementation of the "merger and acquisition six guidelines," with 5 major asset restructuring cases [8][10]. - In 2024, the total dividends (including buybacks) reached 3.789 billion yuan, marking a 24.03% increase from the previous year [8]. Group 4: Inner Mongolia Securities Regulatory Bureau Initiatives - Inner Mongolia Securities Regulatory Bureau has been actively visiting companies to address urgent issues and promote high-quality development since 2024 [15][16]. - The bureau has facilitated 3 companies in conducting mergers and acquisitions, with 2 being major asset restructurings, and supported 10 companies in buybacks totaling 2.102 billion yuan [16]. - A total of 22 listed companies have announced cash dividends of 20.562 billion yuan, with 81% of the companies in the region participating in dividend distribution [16].
辽宁证监局深走访细调研助力上市公司高质量发展
Zheng Quan Shi Bao Wang· 2025-07-21 00:39
Group 1 - The core viewpoint emphasizes the collaboration between the Liaoning Securities Regulatory Bureau and local governments to support the high-quality development of listed companies through in-depth research and understanding of their challenges [1] Group 2 - The Liaoning Securities Regulatory Bureau acts as a "promoter" by advocating for the implementation of the capital market "1+N" policy system, encouraging companies to leverage market opportunities and tools such as mergers and acquisitions, dividend repurchases, and other market-oriented methods to enhance investment value [2] - Since the implementation of the "Six Guidelines for Mergers and Acquisitions," there have been over 62 disclosed restructuring plans in the region, including 5 major asset restructurings, with 7 companies utilizing repurchase and loan policies amounting to 0.985 billion yuan [2] - The total dividend amount for 2024, including repurchases, is projected to reach 3.789 billion yuan, representing a 24.03% increase from the previous year [2] Group 3 - The Bureau serves as a "coordinator" to facilitate the orderly resolution of risk issues by conducting thorough visits and research to identify and address the urgent problems faced by companies [3] - In 2025, 17 urgent issues were coordinated and resolved, aiding the listed companies in the region to optimize and strengthen their operations [3] Group 4 - The Bureau functions as a "regulator" to promote compliance and healthy development of enterprises by conducting on-site inspections to understand operational and governance risks, providing regulatory reminders, and communicating common issues to companies and their management [4] - The Bureau will continue regular visits and enhance collaboration with local governments to further support the high-quality development of listed companies in the region [4]
浙江下沉监管服务 助力辖区上市公司高质量发展
Zheng Quan Ri Bao Wang· 2025-07-11 14:23
Group 1 - The meeting held on July 11 aimed to enhance the quality of information disclosure and operational standards of listed companies in the Jinhua, Quzhou, and Lishui areas of Zhejiang province [1] - Over 140 local listed company secretaries, financial directors, and financial work-related personnel attended the exchange meeting, which included insights from leaders and experts from various financial institutions [1] - Key topics discussed included annual report information disclosure, market bonds, hedging and accounting, and case studies of violations by listed companies [1] Group 2 - Jinhua's GDP is projected to reach 692.55 billion yuan in 2024, ranking 6th in Zhejiang province, with 47 listed companies, placing it among the top 30 cities nationwide [2] - The local government plans to enhance the role of capital markets in resource allocation and support the high-quality development of local industries through improved business environments and integrated services for companies seeking to go public [2] - In the first quarter of this year, listed companies in the region reported a net profit of 83.6 billion yuan, a year-on-year increase of 10%, with significant cash dividends and share buyback plans announced [2] Group 3 - The Zhejiang Securities Regulatory Bureau will continue to strengthen its responsibilities and enhance the effectiveness of capital market policies to support local economic development [3] - Measures include improving service quality for the real economy, enforcing strict regulations against financial fraud and market manipulation, and encouraging listed companies to increase cash dividends [3] - The exchange meeting is part of the bureau's initiative to provide regulatory support and promote the development of listed companies in the region [3]
河北上市公司规范发展培训会成功举办 聚焦规范运作与高质量发展
Zheng Quan Ri Bao Wang· 2025-07-04 13:10
Core Viewpoint - The training session aims to enhance the governance and risk prevention capabilities of listed companies in Hebei, aligning with national policies for high-quality capital market development [1][4][10] Group 1: Achievements of Hebei Listed Companies - The number of listed companies in Hebei has increased from over 60 to 82 in three years, with a total market capitalization of 1.2 trillion yuan, representing a 27% year-on-year growth [4] - There are 25 specialized and innovative enterprises among the listed companies, with R&D investment exceeding 29 billion yuan in 2024, marking three consecutive years of growth [4] - Cumulative cash dividends over the past three years have surpassed 60 billion yuan, with five companies maintaining dividends over 1 billion yuan for three consecutive years [4] Group 2: Challenges Faced by Hebei Listed Companies - The overall quality of Hebei listed companies does not match the economic scale, with 35 companies having a market value below 5 billion yuan, indicating weak risk resistance [5] - Nearly half of the listed companies have not engaged in strategic financing since their IPOs, highlighting insufficient capital operation activity [5] - Issues such as governance chaos and violations in information disclosure are prevalent, with the Hebei Securities Regulatory Bureau investigating six companies and imposing fines totaling nearly 1.7 billion yuan, a historical high [5] Group 3: Regulatory Focus and Policies - The regulatory framework emphasizes "risk prevention, strong regulation, and promoting high-quality development," with a focus on strict enforcement against financial fraud and insider trading [6][7] - The "five musts" for information disclosure are highlighted: truthful, accurate, complete, timely, and fair [6] - The regulatory body aims to enhance the quality of listed companies through improved mechanisms and strict enforcement of laws against financial misconduct [7] Group 4: Experience Sharing and Future Directions - Two listed companies shared their compliance practices and development insights, providing valuable references for others in the region [8] - The Hebei Securities Regulatory Bureau plans to maintain a dual focus on strong regulation and development, implementing special actions to purify the market environment [9] - Continuous efforts will be made to promote policy implementation, support excellent companies in utilizing capital markets, and enhance the overall development environment for listed companies [9]
走访上市公司 推动上市公司高质量发展系列(十九)
证监会发布· 2025-07-04 12:03
Core Viewpoint - The article emphasizes the importance of regular visits by regulatory bodies to listed companies to facilitate high-quality development and address operational challenges faced by these companies [2][4][5]. Group 1: Overview of Visits - The Tianjin Securities Regulatory Bureau has conducted visits to 39 listed companies, achieving a coverage rate of 55.7% and collecting 74 issues, with 37 of them resolved or making substantial progress, representing 50% [2][4]. - A systematic approach has been established for these visits, categorized by industry and region, with key companies being visited by city leaders [2][3]. Group 2: Company Support and Communication - Prior to visits, the Tianjin Securities Regulatory Bureau reviews companies' financial and operational statuses to tailor the visits effectively [3]. - During visits, the bureau engages in discussions to understand business models, core technologies, and challenges in high-quality development, while also promoting compliance and governance [3][4]. Group 3: Follow-up and Issue Resolution - The bureau maintains a record of company requests categorized by various issues, ensuring regular updates to local government departments [4]. - Collaborative efforts are made to address unresolved issues through meetings and discussions with relevant departments [4]. Group 4: Impact of Initiatives - The regular visits have led to increased utilization of financial tools such as cash dividends, share buybacks, and mergers, enhancing the investment value of listed companies [5]. - In 2024, listed companies in the region executed cash dividends 77 times, totaling 32.747 billion, with 27 companies engaging in buybacks amounting to 7.274 billion [5].