作者丨CV
本期我們將從納稅總額、估值水準方面來勾勒A股上市公司的“義利 99”基本畫像。
納稅總額
納稅額超十億元居多
從納稅總額看， “義利 99”中有 83 家超 10 億元， 占比達到 83.84%。 其中， 納稅總額最小的是海格通信（002465.SZ）， 為2.71億元；最大的是中國石化（600028.SH）， 為3,160.62億元， 為前者 1166 倍。 納稅總額在 10- 100 億之間的公司共 52 家， 達到 52.53%；納稅超1,000 億的公司共 4 家， 占比4.04%。 可以看出， 十億元納稅大戶成為“義利 99”一個標誌。
估值水準
市值超千億元占比近五成
從市值分佈看， “義利 99”既涵蓋了 500 億元以內市值的公司， 也涵蓋了 10,000 億元及以上市值的公司。 截至 2017 年 9 月 30 日， 上榜公司市值最小的是東軟集團（600718.SH），
市盈率 20 倍以下的占比近六成
從估值水準看， 截至 2017 年 9 月 30 日， “義利 99”市盈率最低的是民生銀行（600016.SH）為 6.01 倍；最高的是中國聯通（600050.SH）， 為 323.62 倍。 其中， 市盈率在 20 倍以下的共 58 家， 占比 58.59%； 市盈率達 100 倍以上的有 4 家， 占比 4.04%。 可以看出， “義利 99”整體市盈率合理。
下期我們將從公司類型和上市情況方面解析義利99評估報告！
English Version
The basic profile of SV 99 companies is presented from 4 perspectives:annual tax contribution, valuation, ownership types, and years of listing.
Annual Tax Contribution
The Majority Contribute over RMB 1 billion Taxes Annually
In terms of annual tax contribution, 83 companies (83.84%) exceed RMB 1 billion annually. Haige CommunicationsGroup (002465.SZ) contributes the least – RMB 271 million, while Sinopec Corp. (600028.SH) contributes the mostwith an amount of RMB 316.06 billion, 1,166 times than that of the former. There are 52 (52.53%) companies withan annual tax contribution of RMB 1 billion to 10 billion, and 4 (4.04%) exceeding RMB 100 billion. It shows that anannual tax contribution of over RMB 1 billion has become a common feature defining SV 99 companies.
Valuation
Nearly 50% Have a Market Value of over RMB 100 billion
Referring to the figure below, SV 99 companies have a market value ranging from below RMB 50 billion to over RMB1 trillion. As of 30 September 2017, Neusoft Corporation (600718.SH) has the smallest market value of RMB 21.21billion, and ICBC (601398.SH) RMB 2.05 trillion, which is the largest, 97 times than that of the former. There are 51companies (51.52%) recording a market value below RMB 100 billion, with the rest 48 companies (48.48%) exceedingRMB 100 billion. It can be concluded that despite the big differences in asset and revenue sizes of SV 99 companies,there is a relatively narrow gap regarding market value.
Nearly 60% have a PE ratio of below 20
In terms of the valuation, as of 30 September 2017, the lowest PE ratio of all SV 99 companies is 6.01 of ChinaMinsheng Bank (600016.SH); the highest is 323.62 of China Unicom (600050.SH); 58 companies (58.59%) have a PEratio under 20; and 4 (4.04%)have a PE ratio of over 100. This indicates that SV 99 companies have a reasonable levelof PE ratio.