Three important indicators, the top 50 A-share profitability released!

To measure the profitability of a company, it is not only necessary to look at the size of the revenue scale and the amount of net profit, but also to judge the company's industry status and weigh the input-output ratio, that is, the resources invested by shareholders and creditors in the company, and the income created during the accounting period, including net profit and interest returns.

For secondary market investors, more and more value investors regard return on net assets and return on total assets as important indicators for selecting investment targets. Based on this, Databao sorted out the profitability ranking according to the data of the A-share 2023 annual report for readers.

Pharmaceutical and Computer Stocks

Dominating the screen gross profit margin ranking

According to the statistics of Securities Times and Databao, from the perspective of Shenwan's first-class industry, excluding the financial industry (banking and non-bank finance), the gross profit margin of the three major industries of food and beverage, beauty care, and medicine and biology ranks among the top three. In contrast, the food and beverage industry has dominated the championship all year round, beauty care has been the runner-up for three consecutive years, the coal industry has fallen to the top three, and the pharmaceutical and biological industry has returned to the third place. The gross profit margin of the food and beverage industry was the highest, reaching 49.63%, an increase of 1.93 percentage points over the previous year.

The gross profit margin of the beauty care industry has increased significantly, increasing by 6.38 percentage points compared with 2022. In 2023, due to the recovery of offline passenger flow, the overall consumption will show a recovery trend, and in addition, the gross profit margin of large consumption industries such as beauty care, social services, and food and beverage will increase significantly due to the impact of the low base in 2022.

The gross profit margin of the coal industry fell to fifth. In 2023, the domestic thermal coal market price will show a "V" shaped fluctuation, first declining and then rising, the fluctuation range will narrow, and the price center will fall, and the average transaction price of 5,500 kcal thermal coal in Qinhuangdao Port will be about 980 yuan/ton, a year-on-year decrease of about 23.7%.

Medicine, biology and computer are high-tech industries, which are typical industries with "three highs and one long", with the characteristics of high risk, high investment, high return and long cycle. That is, once the product is successfully put into the market, the economies of scale will increase, the gross profit margin will be further improved, and the net profit will be thickened.

Among the top 50 A-share gross profit margin rankings in 2023, more than sixty percent of the stocks belong to the pharmaceutical and biological industry, followed by the computer industry. From the perspective of individual stocks (excluding banks and non-bank finance), the gross profit margins of Mabwell-U, First Pharma Holdings-U, and Shenzhou Cell-U were 98.93%, 97.87%, and 97.11% respectively, leading the top three.

Founded in 2017, Mabwell-U is an innovative biopharmaceutical company with a full industry chain layout, focusing on the treatment and drug development of oncology and age-related diseases. Since its establishment, almost all expenditures have been spent on R&D, with a total R&D investment of 3.438 billion yuan and a cumulative operating income of 248 million yuan in 7 years.

The gross profit margin of "Women's Moutai" Aimeike is 95.09%, ranking first in the beauty care industry and eighth in A-shares. The gross profit margin of the game stock Glacier Network is 94.97%, ranking tenth, and the company's gross profit margin has remained above 90% for six consecutive years, and the first round of testing of the product under development "Codename Dawn" has been launched on November 30, 2023.

In addition, the computer sector Foxit Software, Wondershare Technology, Pan Micro Network, Huada Jiutian and Zhongwang Software are all on the list. The stocks of the Beijing Stock Exchange, Kangle Guardian and Jinbo Biotech, ranked sixth and thirtieth in the list with gross profit margins of 95.58% and 90.16% respectively.

Return on Equity Ranking:

Power equipment stocks accounted for the top proportion

Someone once asked Warren Buffett which financial indicator he would choose if he could only use one indicator to invest? Buffett said that he chose the return on equity (ROE), specifically the company with a return on equity greater than 20%.

According to Databao statistics, there will be 186 A-share listed companies with a non-average return on net assets of more than 20% in 2023, and a total of 450 listed companies with a return on net assets above 15%.

In the Shenwan industry, excluding ST shares, among the top 50 listed companies, there are more stocks in the power equipment industry, followed by the food and beverage and pharmaceutical and biological industries.

From the perspective of individual stocks, the top three are quartz shares, Chongqing beer, and SolaX Energy, of which quartz shares rank first with a yield of 90.32%. In 2023, benefiting from the rapid growth of demand in downstream semiconductor, photovoltaic and other industries, quartz, especially high-purity quartz, has become a "sought-after resource" in the industry, with a net profit of 5.039 billion yuan, a year-on-year increase of 378.92%, and at the same time, a big red envelope of 2 billion yuan for dividends.

The company said that the demand of the semiconductor and photovoltaic industries will continue to grow in 2024, of which the growth rate of the photovoltaic industry in 2023 will be too strong, and the demand will still grow in 2024, but the growth rate may be lower than in 2023.

Chongqing Beer has dominated the profit list all year round, and in 2023, it will continue the continuous growth momentum since 2018, and achieve comprehensive growth in sales, revenue, and profit for the sixth consecutive year.

In addition, Gaoce Co., Ltd., Oujing Technology, Sungrow Power Supply and other power equipment leaders are all on the list. Sungrow is a global leader in photovoltaic inverters and energy storage systems, with industry-leading profitability, and its return on net assets will increase by 20.25 percentage points year-on-year in 2023.

It is worth noting that the stocks of the Beijing Stock Exchange, Jinbo Biotechnology, Haisheng Pharmaceutical, Junchuang Technology, and Kunbo Seiko also appeared in the top 50 list of return on net assets.

4 stocks on the Beijing Stock Exchange landed

Return on total assets

The return on total assets is the overall profitability of an enterprise using equity capital and debt capital, and it is also an important indicator to evaluate the operating efficiency of an enterprise's assets. According to Databao statistics, there are 665 A-share listed companies with a total return on assets of more than 10%, and nearly 80 listed companies with a total return on assets of more than 20%.

Excluding ST stocks, among the top 50 lists, there are more stocks in the three major industries of food and beverage, medicine and biology, and basic chemicals, and there are 10 stocks in food and beverage.

Quartz shares, Tianqi Lithium, and Liba shares are among the top three on the list, but from the comparison of data in recent years, Tianqi Lithium will decrease by 20.55 percentage points compared with 2022, and Liba shares will decrease by 2.67 percentage points.

The return on total assets of quartz shares will increase from 40.07% in 2022 to 97.9% in 2023, ranking first from 26th in the previous year. The company is a leading high-purity quartz sand company in China, and is expected to continue to enjoy the dividends of the photovoltaic industry by virtue of its leading advantages in technology and production capacity.

The reporter noticed that in the list of the top 50 total return on assets, there are 4 stocks on the Beijing Stock Exchange, namely Jinbo Biotechnology, Haisheng Pharmaceutical, Wuhan Landian, and CommScope Chemical.

As the only company in the industry to industrialize recombinant humanized collagen, Jinbo Biotech's net profit attributable to the parent company in 2023 increased by 174.6% year-on-year. The stock will land on the Beijing Stock Exchange in September 2023, and its share price once soared to 302.33 yuan per share, with the latest total market value of 15.51 billion yuan, making it the second largest market value stock on the Beijing Stock Exchange after beiteri. The latest closing price of Jinbo Biotech is 175.2 yuan per share, which is also the only 100 yuan stock on the Beijing Stock Exchange.

Disclaimer: All information content of Databao does not constitute investment advice, the stock market is risky, and investment needs to be cautious.

Editor-in-charge: Ye Shuyun

Proofreading: Wang Chaoquan

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