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the capital market is in urgent need of a deeply market-oriented value journey

2024-09-05

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with both revenue and profits falling, the semi-annual reports of a-share listed companies sent a clear warning signal to the market.

the disclosure of the 2024 semi-annual reports of listed companies is almost over. as of august 31, the 5,344 listed companies that have disclosed their semi-annual reports had a total operating income of 34.87 trillion yuan in the first half of the year, a decrease of 1.4% from the same period in 2023, and a net profit attributable to the parent company of about 1.9 trillion yuan, a year-on-year decrease of 2.4%. although the proportion of profitable companies reached 78.01%, the number of companies with a year-on-year decline in net profit accounted for 51.16%.

listed companies are representatives of excellent domestic enterprises. the total revenue of these 5,344 listed companies is 34.87 trillion yuan, accounting for 56.5% of the national gdp of 61.7 trillion yuan in the first half of the year, highlighting the importance of listed companies in the national economy. it can be seen that the healthy development of the capital market is of great significance to the success or failure of the economy.

the year-on-year decline in revenue and net profit of listed companies, especially in the real estate, photovoltaic components, and shipping sectors, which are all in a state of overall loss, reflects that a large number of micro-enterprises have encountered considerable difficulties due to factors such as insufficient effective demand.

this also makes it easy to understand why a-shares have risen less and fallen more this year, and the liquidity of equity securities has continued to weaken. this also sends a warning that how to improve the liquidity of the capital market and increase the investment turnover rate are important guarantees for effectively revitalizing the stock assets of the economy. moreover, only by revitalizing the capital turnover rate of enterprises and investors at the micro level can risks be mitigated and reshaped in market transactions, and the economy can also move forward steadily with the continuous mitigation of risks.