Over a Hundred A-Share Companies Disclose Last Year's Annual Reports; Emerging Sector Enterprises Show Impressive Performance

Securities Times Reporter Zhao Liyun

The annual report disclosure work of A-share listed companies is in full swing. As of 8 p.m. on March 16, 2026, more than 100 companies have announced their 2025 performance.

From the disclosed data, the past year in the A-share market has shown clear characteristics: leading companies continue to lead, and emerging industries remain prosperous. About 80% of companies achieved profitability, with total revenue exceeding 2 trillion yuan.

In 2025, industry leaders’ profitability remains impressive. Among the 102 listed companies that have disclosed their 2025 results, over 20 have net profits attributable to parent company exceeding 1 billion yuan, with three reaching hundreds of millions.

As the global leader in power batteries, CATL ranked first with a net profit attributable to parent of 72.201 billion yuan in 2025, a year-on-year increase of 42.28%. Revenue reached 423.702 billion yuan, up 17.04%. The company also announced a generous dividend plan, proposing to distribute over 30 billion yuan in cash dividends, demonstrating strong cash flow and emphasis on shareholder returns.

Industrial Fulian is a leading global provider of communication network equipment, cloud service devices, precision tools, and industrial robot design and manufacturing services. Benefiting from the rapid growth in global AI computing power demand, the company achieved revenue of 902.887 billion yuan in 2025, up 48.22%, and net profit attributable to parent of 35.286 billion yuan, up 51.99%, both reaching new highs since listing.

Baofeng Energy, operating in the traditional coal chemical industry, also performed well. In 2025, the company achieved annual revenue of 48.038 billion yuan, up 45.64%; net profit increased by 79.09% to 11.35 billion yuan; and net profit excluding non-recurring gains and losses exceeded 10 billion yuan for the first time, reaching 11.52 billion yuan.

Looking at industry distribution, among the listed companies that have disclosed their 2025 annual reports, emerging industries such as AI computing power and semiconductors stand out.

Cambricon turned profitable in 2025, with net profit attributable to parent reaching 2.059 billion yuan. The company stated in its annual report that 2025 saw the global AI industry accelerate growth, with breakthroughs in large language models and generative AI sparking industry transformation. As the underlying foundation of AI applications, computing power demand is rising rapidly.

As a leading global supplier of AI and high-performance computing PCBs, Shenghong Technology also explained in its 2025 annual report that benefiting from AI development and increased AI computing power, demand for high-end products such as HDI and multi-layer boards grew rapidly. In 2025, the global HDI output value was $15.717 billion, up 25.6%; multi-layer board output value was $33.091 billion, up 18.2%. Against this backdrop, Shenghong Technology achieved revenue of 19.293 billion yuan in 2025, up 79.77%; net profit attributable to parent was 4.312 billion yuan, up 273.52%.

A batch of high-performing listed companies will continue to release their excellent performance reports.

As of March 16, over 3,000 A-share listed companies have announced their 2025 performance briefings or forecasts, with more than half expecting positive results, and over 700 companies’ net profits may double year-on-year. Performance in the new energy and AI computing power sectors is particularly worth watching.

According to disclosed announcements, New EasySun benefits from sustained growth in computing power investment, with demand for high-speed products rising rapidly. The company expects to achieve net profit attributable to parent of 9.4 to 9.9 billion yuan in 2025, a year-on-year increase of 231.24% to 248.86%. Similarly, benefiting from strong terminal customer investment in computing infrastructure, Zhongji Xuchuang’s 2025 performance forecast shows net profit attributable to parent of 10.799 billion yuan, up 108.81%; and net profit excluding non-recurring gains and losses of 10.71 billion yuan, up 111.32%.