April 30, 2011 witnessed the completion of disclosure of annual reports of 2010 and 1st quarter reports of 2011. All 906 SSE-listed companies disclosed their annual reports of 2010 (Four of them were disclosed by way of prospectus) and 1st quarter reports of 2011 as scheduled.
Preliminary statistical analysis unveiled the following features of SSE-listed companies’ annual reports of 2010:
I. Both overall performance and earning per share see remarkable improvement.
According to statistics, in 2010, SSE-listed companies boasted RMB13.8713 trillion business income, RMB1.8655 trillion business profit and RMB1.4168 trillion net profit owned by shareholders of listed companies, or jumps of 33.84%, 36.95% and 37.25% year on year, respectively. Their weighted average earning per share, return on net assets, net asset value per share, and net cash flow from operating activities per share stood at RMB0.5032, 15.17%, RMB3.32, and RMB0.85, respectively. In contrast, the weighted average earning per share and return on net assets in 2009 were RMB0.4178 and 12.28%, respectively.
Big-cap blue chips and constituent stocks of SSE Dividend Index stood out for their performances (see the table below) higher than the average on the market, and became the backbone of SSE-listed companies.
|
Earning per share (yuan) |
Return on net assets (%) |
Net asset value per share (yuan) |
SSE market |
0.5032 |
15.17 |
3.32 |
SSE 50 |
0.5596 |
16.68 |
3.36 |
SSE 180 |
0.5424 |
16.03 |
3.38 |
SSE Dividend Index |
0.6982 |
14.22 |
4.91 |
II. Over a half listed companies prefer profit distribution or capitalization from capital public reserve, yet with a declined proportion of cash dividend distribution.
Statistics show that a total of 521 firms put forward schemes of profit distribution or capitalization from capital public reserve in their annual reports of 2010, accounting for 57.5% of the total that had disclosed the annual reports. Specifically, 497 (or 54.86%) firms planned cash dividend distribution. Moreover, the total cash dividend to be distributed by listed companies according to their annual reports accounted for 26.67% of the total net profit of all SSE-listed companies.
III. Number of companies suffering loss dropped dramatically.
A total of 6.07% (or 55) companies suffered loss in 2010, while the proportion in 2009 was 12.9%.
Among those suffering loss, 37 firms were newcomers, 15 were imposed with delisting risk alert (marked with *ST) for losses for two consecutive years, and listing of 2 was suspended for losses for three years in a row. Another 96 companies turned losses into gains.
IV. Proportion of non-standard audit opinions declined.
Of the 906 SSE-listed companies which had disclosed their annual reports, 59 (or 6.5%) firms faced with non-standard audit opinions on their financial accounting reports, while those figures in 2009 were 59 and 6.8%, respectively.
The 59 firms facing with non-standard audit opinions can be further classified into 42 companies facing with unqualified audit opinion with stressed issues, 16 with qualified opinion, and 1 with disclaimer of opinion.
Upon preliminary statistics of 1st quarter reports of 2011, the weighted average earning per share, return on net assets, and net asset value per share were RMB0.1475, 4.24% and RMB3.48, respectively.