Second, the scale of financing is maintained at a high level, and the industrial layout is constantly optimized

In 2022, the total IPO and refinancing scale of listed high-end manufacturing companies in China will reach 579.901 billion yuan, of which the IPO financing amount will reach 211.215 billion yuan and the refinancing amount will reach 368.686 billion yuan. The registration system has brought about the highly active and rapid growth of the financing market, and the high-end manufacturing industry, as the key support industry of China’s capital market, has witnessed a substantial increase in the number and scale of various types of financing since 2019, and has maintained a high level in the past three years.

In 2022, the financing type of listed companies in high-end manufacturing is mainly refinancing, with the number and amount accounting for 59% and 64% respectively, accounting for more than half of the capital operation, reflecting the strong investment demand of listed companies in high-end manufacturing, the continuous expansion of industrial capacity, and also reflecting the full stage support of China’s capital market for the development of listed companies.

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In 2022, a total of 30 major asset restructurings took place in China’s high-end manufacturing listed companies. The scale of restructuring transactions reached the highest point in 2020, and the number of restructuring showed A downward trend year by year, which is related to the overall prudence of major A-share asset restructuring transactions in recent years and the relative contraction of the listed company M&A and restructuring market.

Third, attach great importance to the building of independent research and development capacity, and accelerate the intensity of investment

In 2022, R&D expenditure of listed high-end manufacturing companies reached 761.149 billion yuan, with a compound growth rate of 22.81% in the past five years, and the annual growth rate remained at a high level of more than 15%; The proportion of R&D expenditure to revenue increased rapidly, from 4.44% in 2018 to 5.78% in 2022, and R&D investment continued to increase rapidly.

4. Tax contributions continued to grow and the number of jobs created kept increasing

As the scale of the industry increases, the tax contribution of listed companies in high-end manufacturing is also steadily increasing. In 2022, the tax contribution of listed companies in China’s high-end manufacturing industry reached 214.798 billion yuan, with a compound growth rate of 10.55% in the past five years, making a significant contribution to society. At the same time, the number of employees of listed high-end manufacturing companies has reached 8.85 million, with a compound growth rate of 9.83% in the past five years, absorbing a large number of technical talents.