According to data from Boshi Fund, all 432 A-share listed companies in Shenzhen had released their 2026 semi-annual reports by August 31. As the first year of the "15th Five-Year Plan," Shenzhen's real economy continues to improve, with listed companies maintaining positive momentum and posting strong overall earnings growth.
Leading companies are playing a prominent role in driving this expansion, while overseas operations have emerged as a crucial growth engine. Meanwhile, R&D investment has remained at high levels, significantly contributing to broader economic and social development. Shenzhen's listed companies represent 7.78% of the national total, ranking third among major Chinese cities (behind Beijing's 484 and Shanghai's 449).
As of August 31, the total market capitalization of Shenzhen-listed companies reached 12.09 trillion yuan, accounting for 10.37% of the entire A-share market—second only to Beijing among major cities. The city boasts 24 companies with a market value exceeding 100 billion yuan and 175 companies surpassing the 10 billion yuan threshold.
Leading Companies Show Strong Influence and Growth
During the first half of the year, the 432 Shenzhen companies generated combined revenue of 3.86 trillion yuan and net profits of 364.202 billion yuan. Revenue grew 15.86% year-on-year, the fastest pace since 2022, while net profits surged 24.43%, marking the highest growth rate since 2020.
The 24 companies with market values above 100 billion yuan have a combined market cap of 6.91 trillion yuan, representing 57.12% of Shenzhen's total listed company value. Among these, 16 are advanced manufacturing firms, including Industrial Fulian, BYD, Luxshare Precision, Shennan Circuits, ZDT, Dapu Micro, Mindray Medical, and Inovance Technology. These 16 companies generated 1.33 trillion yuan in revenue and 84.717 billion yuan in net profit during the first half, growing 26.65% and 48.81% year-on-year, respectively.
Shenzhen listed companies have also demonstrated strong financing activity. According to the Shenzhen Securities Regulatory Bureau, from January to August 2026, 24 companies raised 58.575 billion yuan in domestic capital markets, while 18 companies secured 52.092 billion yuan overseas, providing fresh capital for high-quality development.
During the same period, nine Shenzhen companies—including Hengyunchang, Beixin Life, Dapu Micro, Shangshui Intelligent, Huike Co., Vickey Technology, Qianke Technology, and China Resources New Energy—made their A-share debuts, raising 43.543 billion yuan. Notably, China Resources New Energy's IPO raised 24.5 billion yuan, setting a new record for the Shenzhen Stock Exchange. Dapu Micro was the first company to list under the ChiNext's third set of listing standards. Additionally, nine A-share companies from Shenzhen issued H-shares, raising 44.858 billion yuan.
Net Profits of 406 Real Economy Companies Rise Nearly 30%
In the first half of the year, 406 Shenzhen-listed companies in the real economy sector achieved total revenue of 2.75 trillion yuan and net profits of 148.983 billion yuan, growing 19.56% and 29.56% year-on-year, respectively. The electronics industry, a traditional strength for Shenzhen, benefited from the AI computing power boom and a robust memory chip market. The 117 electronics companies saw revenue and net profits reach 1.19 trillion yuan and 74.31 billion yuan, respectively, with growth rates of 48.22% and 120.87%—both the highest since 2018.
Capital expenditure on external investments by these 406 companies totaled 883.307 billion yuan in the first half, an increase of 94.785 billion yuan or 12.02% year-on-year. Within the electronics sector, investment spending reached 234.851 billion yuan, up 22.06% from the same period last year.
Overseas Business Becomes Key Growth Driver for Many Shenzhen Companies
In the first half of the year, 298 Shenzhen companies reported overseas operations, generating combined revenue of 804.503 billion yuan—second only to Beijing. This represents a 36.81% year-on-year increase, accelerating by 17.36 percentage points compared to the previous year and marking the fastest growth since 2022. The figure significantly outpaces the national average growth of 22.93%.
The electronics industry contributed the most to overseas revenue growth. BYD, Luxshare Precision, CEC Port, Longsys, and Demingli saw their overseas businesses expand by 45.911 billion yuan, 40.333 billion yuan, 18.159 billion yuan, 9.993 billion yuan, and 8.244 billion yuan, respectively, showcasing the "Shenzhen strength" in driving high-quality foreign trade development.
During the first half of the year, 407 Shenzhen listed companies disclosed R&D expenses totaling 103.857 billion yuan, ranking second nationally after Beijing. R&D spending accounted for 2.69% of total revenue, with 15 companies investing over 1 billion yuan each. Leading firms maintained substantial research budgets: BYD spent 23.307 billion yuan on R&D, the highest among all A-share companies, while ZTE Corporation invested 10.93 billion yuan.
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