Private economy is the driving force behind the Chinese path to modernization, and listed private-owned enterprises (POEs) are an important foundation for the high-quality development of the capital market. The report to the 20th CPC National Congress emphasized the need to optimize the development environment for private enterprises and promote the growth of the private economy. During this year's Two Sessions, General Secretary Xi Jinping once again stressed the importance of the policy of "two unswervinglys", namely unswervingly consolidating and developing the public sector and unswervingly encouraging, supporting and guiding the development of the non-public sector. This aims to stimulate the intrinsic motivation and innovative vitality of various types of market entities.
Shenzhen Stock Exchange (SZSE) earnestly implements the decisions and arrangements of the CPC Central Committee and the State Council to promote the development and growth of the private economy. We continue to implement the requirements of the CSRC's "Three-Year Action Plan to Promote the Improvement of the Quality of Listed Companies (2022-2025)". To support the high-quality development of SZSE-listed POEs, we have formulated a "Work Plan to Support POEs in Focusing on Core Businesses and Ensuring Stable Development". It actively guides private enterprises to focus on their core businesses and develop steadily, thereby fully boosting confidence in the development of the private economy, and laying a solid foundation for capital market reform and development.
Currently, SZSE has gathered over 2,100 listed POEs, accounting for over 70% of SZSE-listed companies. Their total market value is approximately 20 trillion yuan, accounting for 68% of the total market value of SZSE-listed companies. Moreover, on the ChiNext board, POEs account for over 80% of the total, and under the registration-based IPO system, more than 90% of the newly listed companies are POEs. High-quality listed POEs have become a distinctive feature and important pillar of the SZSE market. Empowered by the capital market, SZSE-listed POEs have shown strong resilience and vitality, with stable and improving performance trends. In 2023, the SZSE-listed POEs achieved a total operating revenue of 9.56 trillion yuan, a year-on-year increase of 6.63%. 1,485 POEs achieved profitability, with a net profit of 449.8 billion yuan. Furthermore, a number of innovative "leaders" and industrial "pioneers" emerged and more than 10 POEs achieved a market value of over 100 billion yuan.
On May 16, SZSE will host a collective briefing on performance themed "Private Economy: Advancing to a New Stage" in the listing hall. We will invite companies including Tri_Ring Group, Lingyi iTech, Delton Technology, Newland, and CNGR to participate, and communicate with investors through a combination of online and offline channels. SZSE will provide online interactive Q&A services, online text and image communication, and synchronous video broadcasting through the Easy IR platform.
During the theme week, a number of listed POEs such as TGOOD, Tengyuan Cobalt, Kehua Data, Mingyang Electric will also hold online briefings (the specific information is subject to company notices). At the briefing, each company's core members including the Chairman, General Manager, Finance Director, Board Secretary, and Independent Directors will analyze the company's performance, answer investors' questions, listen to investors' suggestions, and help investors gain a deeper understanding of the company's situation. We look forward to all investors' continued attention and active participation.
