Recently, the first "Innovative China’s Top 100 Listed Companies" list jointly launched by Panorama and Fudan University Institute of Economics has been released, and Baosteel shares have been successfully included in the list.
The list of "Innovating China's Top 100 Listed Companies" focuses on tapping the innovative ability of Chinese listed companies and witnessing technological innovation to promote enterprise development. This "Innovation China’s Top 100 Listed Companies" takes all A-share listed companies as samples. By comparing and extracting the public data of Listed Companies in the past three years, taking the competition ranking of the same industry as the criterion, relying on objective data to import quantitative model, 100 listed companies with excellent innovation ability and good financial condition are selected.
The selection of Baosteel shares highlights its good financial situation and strong innovation ability. In the first three quarters of 2018, Baosteel's stock performance reached a record high of 15.747 billion yuan, an increase of 34.96% over the same period of last year; its basic earnings per share was 0.71 yuan, an increase of 33.96% over the same period of last year; and its debt ratio was further reduced compared with the beginning of the year. At the same time, Baosteel's annual R&D expenditure remains at about 2% of revenue, which has become the cornerstone of sustained performance growth. In the first three quarters of 2018, the company's R&D expenditure was 4.576 billion yuan, up 60% from the same period last year. In recent years, the field of high-end steel has been expanding. The new generation of automotive high-strength steel, electrical steel, high-grade household appliances steel, oil and gas pipeline, bridge steel, hot-rolled heavy rail and other high-end products independently developed are at the international advanced level.
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