Steady progress! Shanghai-listed A+H companies achieved a 9.56% increase in net profit in 2024, providing investors with high dividends and positive returns.

At the end of the first quarter, the Shanghai A+H stock companies closed their 2024 annual reports, with more than a hundred companies jointly submitting a "steadily advancing" report card. Data shows that in 2024, more than a hundred Shanghai A+H stock listed companies achieved a total operating income of 25.38 trillion yuan, roughly the same as last year; net profit reached 3.12 trillion yuan, an increase of 9.56% compared to the previous year. Finance and Economics journalist noted that A+H stock companies, as the blue-chip "stabilizing force" in the market, not only stabilized their base in the current economic transformation wave, but also some "dark horse" sectors exceeded expectations in terms of performance. Stable steering by blue-chip giants: Leading the way with trillion-dollar market caps Among the Shanghai A+H stock companies, companies with trillion-dollar market caps account for over 40%, becoming the "pillar" of stability for the development of the capital market. In terms of daily profit, as of now, about 19 listed companies have a daily net profit of over 1 billion yuan, with Industrial and Commercial Bank of China leading with a daily profit of 10 billion yuan. In the banking sector, the six major state-owned banks continued to exert efforts, achieving a total operating income of 3.52 trillion yuan in 2024, and a net profit of 1.4 trillion yuan, both showing positive growth year-on-year. As the "blood" of the real economy, the banking sector not only serves the high-quality development of the economy but also injects confidence into the capital market. In the oil and petrochemical sector, the three giants Petrochina, CNOOC Limited, and China Petroleum & Chemical Corporation collectively earned 352.9 billion yuan, a 2.16% increase compared to the previous year. Among them, CNOOC Limited achieved a high net profit growth rate of 11.38%, demonstrating the strong resilience of leading companies in the energy sector. In the non-ferrous metals sector, Zijin Mining Group delivered outstanding results through scale expansion and technological optimization. Zijin Mining Group achieved an operating income of 303.64 billion yuan, a 3.49% increase year-on-year, and a net profit of 32.05 billion yuan, a significant increase of 51.76% year-on-year; CMOC Group Limited achieved an operating income of 213.03 billion yuan, a 14.37% increase year-on-year, and a net profit of 13.532 billion yuan, a 64.03% increase year-on-year. Breakthrough in new quality productivity: Innovation engine driving industry advancement The 2025 Government Work Report proposes "developing new quality productivity according to local conditions." Shanghai A+H stock companies actively responded by using technological innovation as the engine to drive the industry towards high-quality development. HAIER SMARTHOME achieved an operating income of 285.981 billion yuan in 2024, a 4.29% increase year-on-year, and a net profit of 18.741 billion yuan, a 12.92% increase year-on-year. The company continued to promote the digitization of procurement, research and development, and manufacturing processes in the domestic market, building a digital production and sales collaborative system, upgrading product structure, enhancing brand premium capabilities by promoting scenario-based experiences; in the overseas market, it focused on high-end brand strategies, focusing on localization demands, enhancing cost competitiveness through the establishment of a digital procurement platform, and increasing production capacity utilization through global supply chain collaboration. Fuyao Glass Industry Group achieved an operating income of 39.252 billion yuan in 2024, an 18.37% increase year-on-year, and a net profit of 7.498 billion yuan, a 33.20% increase year-on-year. The company continued to enhance glass manufacturing technology and raw material research, with a continuous increase in the proportion of high value-added products such as intelligent panoramic skylight glass, adjustable light-transmittance glass, head-up display glass, and ultra-insulating glass, with a 5.02 percentage point increase compared to the same period last year. Shanghai Fosun Pharmaceutical achieved a net profit of 2.77 billion yuan in 2024, a 16.08% increase year-on-year. The company stated that the optimization of product structure and sales growth brought about by the launch of innovative products were the main driving factors behind the performance growth in the reporting period. The company focuses on diseases and technological fields that are based on clinical needs, have proven efficacy, and align with modern medical development directions. Through diversified and multi-level cooperation models such as independent research and development, cooperative development, licensing, and industrial investment, the company promotes the development and transformation of innovative technologies and products. Actively rewarding investors with dividends Shanghai A+H stock companies not only "make money" but also "share." According to statistics, as of March 31, 2025, 31 companies in the Shanghai A+H stock sector had a dividend yield of over 4%, an increase of nearly 10 companies compared to 2022, steadily increasing the number of high dividend yield companies. Many Shanghai A+H stock companies with good performance have announced generous dividend plans for 2024 to return to investors. Taking COSCO Shipping Holdings as an example, the company plans to distribute a cash dividend of 1.03 yuan per share, with a total dividend amount of 16.1 billion yuan. Including the previously distributed interim cash dividends, the company's total cash dividend for 2024 is approximately 24.431 billion yuan. At the same time, the company used a centralized bidding method to repurchase A-shares in 2024, with a total repurchase amount of approximately 7.03 billion yuan, the total amount of cash dividends and repurchases is approximately 25.134 billion yuan, accounting for 51.19% of net profit. The dividend performance of the banking sector is also outstanding. According to statistics, the six major banks planned to distribute dividends exceeding 215.8 billion yuan by the end of 2024, which, combined with the previous interim dividends, will total over 420 billion yuan. These banks are returning their operating results to investors through dividends, stabilizing investor return expectations, attracting more capital allocation to bank stocks, and promoting the stable and healthy development of the capital market. This article was reprinted from "Finance and Economics Society"; GMTEight editor: Chen Xiaoyi.