(Yicai) Sept. 8 -- High-end manufacturers listed in the Chinese mainland accounted for 57 percent of the total number of companies engaged in the manufacturing sector listed in Shanghai and Shenzhen, mainly because of the opportunities brought in by policy support and the transformation and upgrading of the industrial structure, according to a recent report.

A total of 3,537 manufacturing firms were listed in the Chinese mainland last year, of which 2,021 were high-end manufacturers, a report issued by the China Association for Public Companies showed today. Listed manufacturing firms made up 67 percent of all listed ones.

Chinese-mainland listed high-end manufacturers logged a cumulative net profit of CNY875.1 billion (USD119.3 billion) last year, up about 7.5 percent from the year before and reaching a compound annual growth rate of nearly 26 percent in the past five years, according to the report. Their revenue totaled CNY13.16 trillion (USD1.79 trillion), achieving a CAGR of 15 percent.

The revenue growth of Chinese-mainland listed high-end manufacturing firms was much faster than some countries’ gross domestic product, indicating that these enterprises are experiencing a period of rapid and upward development and becoming a new momentum for China’s economic growth, the report noted.

The main source of funds for such companies was refinancing, with quantity and amount accounting for 59 percent and 64 percent, respectively, of the total, indicating that Chinese-listed high-end manufacturing firms have strong investment demand, their industrial capacity continues to expand and that the Chinese capital market supports all stages of their development, according to the report.

The size of initial public offerings and refinancings carried out by companies engaged in high-end manufacturing listed in the Chinese mainland totaled CNY579.9 billion last year, of which CNY211.1 billion from IPOs and CNY368.7 billion from refinancings, the report noted.

Chinese mainland-listed high-end manufacturing companies paid about CNY214.8 billion in taxes last year, with a CAGR over the past five years of nearly 10.6 percent. They had over 8.8 million staffers as of Dec. 31, with a five-year CAGR of 9.8 percent, indicating the need for a significant number of technical talents.

Editor: Futura Costaglione