CSRC negotiations Listed Companies: net interest increasing trend of the real economy adhere to merit all the good

Press conference Q & A session Q: listed companies to disclose 2017 Annual Report has been basically completed, can you tell us about the relevant situation?  A: As of the end of April 2018, in addition to * ST Hua Ze and other nine companies, Shanghai and Shenzhen listed companies to disclose 3522 Annual Report 2017。Details are as follows。  First, the performance of the situation (a) to maintain net profit growth, the loss narrowed, the growth rate of the plate are different。In mid-2017, the Shanghai and Shenzhen listed company achieved operating income 39.25 trillion yuan, an increase of 18.80%, growth accelerated 10.12 percent; net profit of 3.36 trillion yuan, an increase of 19.10%, the growth rate increased 11.65 points。From the profit and loss structure, the 3300 profit, 222 losses, the loss of 6.30% decline compared with 2016 0.62 points。Sub-sector perspective, net profit rose 20 motherboard.46%, the growth rate increased 15.90 percentage points, showing a good trend; net profit rose 19 small plates.88%, the growth rate decreased 16.88 percent; by Wen's shares and Letv two weight affect the company, net profit fell 17 GEM.98%, growth fell sharply 57.56 percent, excluding the two companies, the GEM net profit rose 3.19%。  (B) the performance of the real economy as a whole for the better。2017, non-financial listed company achieved operating income 32.91 trillion yuan, an increase of 21.07%, the growth rate increased by 10 compared to 2016.40 percent; net profit of 1.70 trillion yuan, an increase of 33.87% increase in the growth rate of 5.69 percentage points, to further consolidate the good momentum。From the profitability perspective, non-financial listed companies net assets yield 9.49%, an increase of about 1.4 percentage points。  (C) the performance of the financial sector to reverse the downward trend。In mid-2017, the financial industry achieved operating income of 600.34 trillion yuan, an increase of 8.Of 36%; net profit 1.6.5 billion yuan, an increase of 7.15%, reversing the declining trend in 2016。Among them, the banking sector net profit of 1.39 trillion yuan, an increase of 4.91% growth rate compared to 2016 increased by 3.08 percentage points; NPL ratio from the end of the year 20 161.70% down to the end of 20171.59%, asset quality continued to improve。Securities 1029 net profit.8.6 billion yuan, an increase of 1.62%。Insurance 1451 net profit.0.7 billion yuan, an increase of 44.62%。  Second, the continued optimization of the economic structure (a) supply-side structural reforms to further promote。Ordered to resolve excess capacity。2017, coal, iron and steel industry companies to acquire fixed assets, intangible assets and other long-term reduction of 5 assets to pay cash up.75% and 6.37%, continuing a downward trend in 2016, with production capacity continue to compress。By the end of 2017, coal, iron and steel industry, fixed assets and construction in progress total proportion of the total assets of 49.10% and 53.84%, compared with year-end 2016 decreased by 2.3 and 71.68 percent, the stock of production continued to digest。The real estate industry "to the inventory" significant effect。2017, the real estate industry companies stock sale by the proportion of total assets in 2016 34.46% down to 31.23% of real estate inventory levels continue to decline。Real economy "deleveraging" and achieved initial results。At the end of 2017, non-financial listed company's assets and liabilities was 60.05%, compared with year-end 2016 decreased 0.33 points。Among them, the state-owned non-financial corporate balance was 61.24%, down 0.31 percent, the first decline in recent years。With the continued introduction of tax cuts drop fee policy, corporate taxes and costs continue to reduce, by 2017 non-financial listed company's actual tax burden of total revenue 6.73%, down 0.61 points。"Fill the short board" to speed up investment in the field。2017, health industry, ecological protection and environmental governance industry occurred acquisition of fixed assets, intangible assets and other long-term assets to pay cash up 87.57%, 47.12%, continue to increase investment。  (B) The New Economic momentum continued to build up。In mid-2017, strategic and emerging industries listed companies net profit of 3946.2 billion yuan, an increase of 21.80%, continuing rapid growth。From the breakdown field, high-end equipment manufacturing and bio-industry net profit increased by 91.83% and 27.24%, leading new industries; new materials industry, new energy industry and a new generation of information technology industry net profit up 22.64%, 20.09% and 16.23%, continue to maintain high growth。From R & D situation, a listed company in mid-2017 R & D expenses 5747.3.9 billion yuan, an increase of 21.54% of R & D costs account for operating income of 1.46% rise compared with 2016 0.03 points。In addition, the concept of plate unicorn listed companies net profit of 369.6.6 billion yuan, an increase of 57.08%, reflecting to some extent, new technologies and new formats new model of industrial growth continues to accelerate。  (C) the downstream industry differentiation, regional development generally favorable。Sub-sectors, the continuing rise in the influence of supply-side reform and commodity prices, the upstream industry to achieve rapid growth, the mining industry in mid-2017 net profit of 1666.0.5 billion yuan, an increase of 175.91%, the growth rate increased 168.39 points。Manufacturing, construction and other midstream industry continued momentum, net profit of 6549.3.8 billion yuan, an increase of 41.16%, the growth rate increased 24.26 points。Among them, the net profit of the manufacturing sector to achieve 40.88% growth。Prices in the upstream to downstream extrusion formed a certain effect, in the case of demand has not significantly expanded, and information technology services, real estate and other downstream industry growth rate has declined, the downstream industry in mid-2017 listed companies net profit of 8738.4.5 billion yuan, an increase of 17.62%, the growth rate decreased 4.83 points。Sub-regional perspective, benefit from the national policy support in 2017 western and northeastern regions of listed companies net profit of 2274 respectively.6.7 billion yuan and 499.7.9 billion yuan, an increase of 55.52% and 40.33% faster growth。The economic rise of the central region of listed companies net profit of 1845.1.8 billion, an increase of 52.74%。The eastern region accelerated restructuring and upgrading of listed companies net profit of 2.89 trillion yuan, an increase of 15.13%, performance stabilized。  (D) listed companies to actively serve the national strategy, and actively participate "along the way" building。First, listed companies in a variety of ways trade, construction, industry mergers and acquisitions to support national economic development along the route。Second, actively participate in poverty alleviation accurate。According to the annual report disclosure shows that in mid-2017 in Shanghai and Shenzhen has more than 850 listed companies to disclose the situation to carry out precise poverty alleviation, the listed industrial company with its own characteristics and the actual poverty areas, poverty alleviation through the establishment of industry funds to carry out training and education, poverty alleviation participate in public activities and other forms of support poverty alleviation strategy。Third, efforts to support the fight pollution prevention and control battle。The two cities a total of more than 770 listed companies to disclose environmental information。In addition, ecological protection and environmental governance of listed companies industry revenues grew 38.59% R & D expenses increased 32.14%, indicating that the whole society is constantly increasing investment in environmental protection。  Overall, the continued improvement in the overall performance of listed companies in mid-2017, to optimize the structure, gathering new momentum to continue to grow, the supply-side structural reforms to further promote。But we should also clearly see that the impact of the global economic situation is not optimistic on China's macro economy, listed companies increased pressure, raw material prices continued to rise, tight cash flow from operating activities, a listed company liquidity pressures have increased。  Q: three new board listed companies to disclose the annual report in mid-2017 has been basically completed, can you tell us about the relevant situation?  A: As of now, a total of 10,764 listed companies to complete the 2017 Annual Report disclosure, disclosure on schedule 96%。Details are as follows。  First, the listed company as a whole to maintain high quality and rapid development momentum, and norms of corporate social responsibility has to further improve (a) the overall performance continued to maintain rapid growth。Disclosure report listed company has achieved a total revenue by mid-2017 1.98 trillion yuan, net profit 1154.8.4 billion yuan, respectively, an increase of 21.21% and 14.69%。In which the non-financial enterprises achieved a total revenue 1.89 trillion yuan, net profit 1012.9.9 billion yuan, respectively, an increase of 21.12% and 17.79% growth rate over the last year increased by 3.64 and 7.20 points。The profitability of listed companies to maintain a high level of overall return on equity 8.69%。After nurturing the development of the market, has 906 listed companies to achieve the scale upgrades, 48 micro-enterprises grow into small enterprises, 844 small businesses grow into large, medium-sized enterprises。  (Ii) further improve the robustness of the business。Non-financial corporate average asset-liability ratio 47.84%, down 0.19 points。Non-financial corporations inventory turnover, fixed asset turnover, total asset turnover, respectively, an increase of 2.84% 7.48%, 2.79%, improved operational efficiency。Taxes and fees paid by corporate cash proportion of total revenue fell 0.43 points, including small, micro-enterprises were down 0.62, 0.82 percent tax burden continues to fall。  (C) the continued optimization of the industrial structure。First, the modern service industry to enhance the leading role。Modern service industry (excluding the financial sector) revenue and net profit grew 26.94% and 29.12%, of which IT industry net profit rose 49.01%, the Internet economy, digital economy, the economic performance of outstanding share。The second is to extend the value chain in manufacturing high-end。Advanced manufacturing revenue accounted for 61.84%, an increase of 0.27 points。Equipment manufacturing, high-tech manufacturing growth increased by 11 over the previous year.74 and 2.30 points。Third, environmental protection and ecological improvement in people's livelihood industry。Involved in environmental protection and public services and other industries operating performance improved significantly, revenue and net profit growth over the previous year increased by 14.28 and 18.72 percentage points, to further expand investment, improve year on year growth rate of 2.24 points。Fourth, energy-intensive industry production continues to decline。Petroleum processing, electric power and heat, ferrous metal processing industries investment decreased more than 20% year on year。  (Iv) effective national strategies and services to fulfill their social responsibility。First, service areas and rural revitalization strategy coordination。Western and ethnic minority areas continued to improve the performance of listed companies, net profit rose 19.87%, the growth rate increased over the previous year 12.61 points。Second, the depth of participation in poverty reduction, breadth and degree of precision are improved significantly。Poor areas a total of 235 listed companies, revenue and net profit up 25.53% and 36.26%, significantly improved performance。9995 companies to disclose the poverty alleviation and social responsibility matters, 2489 the company responded to the call of poverty, with contributions, donations of books, the establishment of public funds and other forms, and actively deeply involved in poverty alleviation accurate。Third, expand to absorb the social employment。The number of listed companies up to 252 employees.03 million, an increase of 7.85%。  (V) further improve the corporate governance。After listing three new board, normative significantly strengthen corporate governance。Institution building, 4333 the company established a new corporate governance system in 2017, accounting for 40.25%; 7407 annual report of the company to establish a major error accountability system, accounting for 68.81% year on year to enhance 13.85 points。External checks and balances, there are 654 companies began to set up the independent directors, the company's management introduced 538 professional managers。Equity allocation, a total of 2548 listed companies announced dividend plan, accounting for the number of annual report disclosed 23 listed companies at home.67%。Where the 2044 implementation of the cash dividend, to be paid cash dividends Total 267.8.5 billion yuan。Information disclosure, reducing the number of 20 companies at home because of failure to disclose annual reports in 2017 and was punished when the year。1268 innovative company level, in addition to 28 companies delisting application has been submitted, 1193 completed on time in 2018 a quarterly disclosure, the disclosure schedule 96%。  Second, new momentum booming new industry, new formats, echelon has formed three new board market services the foundation of national development strategies of innovation even more profound (a) innovation-driven strategy in-depth implementation。First, the continued high investment in R & D and personnel。A total of 8586 listed companies to disclose the R & D expenditure, R & D expenditures total 607.3.0 billion, an increase of 9.96%。Talent drive characteristics significantly, undergraduate academic staff accounted for 25.81%。Second, high-efficiency R & D output。24 listed companies involved in the research project in mid-2017 won the National Science and Technology Award, the company has listed a number of the world's advanced core technology。The third is to insist on the study of production。Major technology development contract amount listed in mid-2017 the company signed a total of 255.0.5 billion yuan, an increase of 406.76%。About half of the company through the establishment of subsidiaries Research Institute, and Institute cooperative research projects, scientific research institutes have introduced ways of talent in depth background research, scientific research covering the block chain, artificial intelligence and other cutting-edge technology。  (B) development of new economic enterprises have formed in the interior of the new board echelon。2017 Annual Report Disclosure of 10,764 companies in the new economy companies about 4782, accounting for 44.43% involve new form of the new high-end manufacturing industry, bio-medicine, science and technology services, as well as a new culture, a new retail。Including production inputs 2138 new economic enterprise intelligence-driven, capital-driven, technology-driven factors outstanding performance, and reflects the high growth, high value-added, high rates of return output effect, a significant feature of the new economy。  (C) the new economic enterprises and foster new development in the Third Market。2546 New Economy companies listed since 4310 offering complete, total financing 1696.2 billion yuan, it provides important support for the company's business development。405 New Economy companies to complete mergers and acquisitions 471 times, for a total transaction amount 559.9.3 billion yuan。  Third, the objective understanding of the characteristics of small and medium enterprises development, further improve service development capacity of SMEs (a) the performance fluctuations should be an objective view of SMEs。There are 3027 listed companies net profit growth of over 50%, also a considerable number of the performance of the company have fallen sharply。Overall, fluctuations in performance characteristics in line with the development of SMEs in the growth stage, the longer part of the research and development of industry, such as the typical bio-pharmaceutical industry, generally have high investment, long cycle characteristics, during the development phase often requires substantial capital investment and non-profit。Meanwhile, China's economy is in a period of transformation and upgrading, a variety of new technologies and new formats are emerging, some industries may face the impact of the emerging industry, while growing companies in the strategic upgrading and restructuring phase, which are likely to affect short-term profits。The main objective should look at each market fluctuations in the performance of SMEs, and jointly create a favorable investment environment and investment climate, innovation and entrepreneurship in order to facilitate long-term development of SMEs。  (B) Although listed corporate finance capabilities continue to improve, but to improve the proportion of direct financing of small and medium micro enterprises the task is still arduous。Non-financial listed companies in mid-2017 a total of 1233 common stock financing.6.6 billion yuan, accounting for the proportion of social equity financing of non-financial enterprises 14.09%, an increase of 4.25 points。After the companies listed to benefit from regulatory and public to enhance the degree of indirect financing capability is also enhanced, a total of 2017 6607 the company has undergone indirect financing, accounting for 61.38% of the total amount of indirect financing 4650.8.1 billion yuan。On the other hand, listed companies financial expenses increased by 40.15%。Which are medium-sized and small enterprises increased by up to 65.24% and 42.07%, financial expenses as a percentage of revenue were increased more than 0.2 percentage points, reflecting the indirect financing of SMEs is still much lower cost space, three new board service small and medium micro enterprises, improve the proportion of direct financing of the task is still arduous。Recommended further enrich financial products, to provide differentiated and more efficient financing for the different stages of growth companies, to increase financial support for SMEs。