A-share listed companies disclose annual reports, highlighting significant new development features.

With the disclosure of annual reports by A-share listed companies coming to a close, the Shanghai and Shenzhen stock exchanges recently released the "report card" for listed companies in 2024, showing overall stable performance and a trend towards new development. The structure of listed companies on the main board of the Shanghai Stock Exchange continues to be optimized. In the past decade, the number of companies in emerging industries such as electronics, communications, pharmaceuticals, biotechnology, and automobiles on the main board of the Shanghai Stock Exchange has steadily increased to 40%, with a simultaneous increase in profit contribution. In the past decade, the leading industries in market value on the main board have gradually shifted from traditional industries such as finance and energy to diversified emerging industries such as automobiles and pharmaceuticals. Companies listed on the Shanghai Science and Technology Innovation Board adhere to innovation-driven development, with the median ratio of research and development investment to operating income reaching 12.6%, leading all sectors of A-shares. In the past year, 20,000 new invention patents were added, bringing the total number of invention patents to over 120,000.