Core Viewpoint - Tibet is focusing on creating a capital market with regional characteristics, high quality, and strong competitiveness, referred to as the "Tibet Board" [2][9]. Economic Growth - Tibet's GDP has increased from 32.7 million in 1965 to 276.5 billion in 2024, a growth of 154 times with an average annual growth rate of 8.9% [2]. - In 2024, 22 A-share listed companies in Tibet achieved a net profit of 5.602 billion, a year-on-year increase of 4.24%, and contributed 2.483 billion in taxes, accounting for 14% of Tibet's tax revenue [2]. Capital Market Development - Various enterprises in Tibet have achieved direct financing of 36.713 billion through multi-level capital markets in 2024, with the average interest rate of newly issued corporate bonds dropping to 2.49%, a decrease of 36.96% in financing costs [4]. - The Tibet Development Co., Ltd. announced plans to acquire the remaining 50% stake in Lhasa Beer, indicating active mergers and acquisitions in the region [4]. Investor Engagement - In 2024, Tibet's listed companies conducted 24 cash dividend distributions totaling 3.742 billion, representing a year-on-year increase of 20% and 16.07%, with the dividend payout ratio rising from 60% to 67% [6]. - Eleven listed companies in Tibet have implemented share buybacks totaling 1.078 billion, with three companies utilizing relending tools for buybacks and increases [7]. Future Plans - The capital market in Tibet aims to enhance the core competitiveness and profitability of enterprises by supporting high-quality small and medium-sized enterprises to go public and issue corporate bonds [4][9]. - The government plans to strengthen the cultivation of characteristic industries and enhance the willingness and capability of enterprises to utilize the capital market for further development [9].