By January 21, 2026, more than 600 A-share listed companies had released their 2025 annual performance forecasts or briefings, providing an early snapshot of the Chinese corporate earnings landscape. The data, compiled by Wind Information, shows a consolidating growth trend with clear structural shifts in favor of emerging industries.
The semiconductor sector was among the strongest performers. Montage Technology, a leading memory interface chip designer, projected net profit of 21.5 to 23.5 billion yuan for 2025, up 52-66% year-on-year. The company attributed growth to strong demand driven by AI industry trends, with interconnect chip shipments increasing significantly. The broader semiconductor ecosystem benefited from both domestic substitution trends and global AI infrastructure buildout.
The new energy vehicle (NEV) supply chain was another major winner. More than 20 companies in the NEV sector reported significant profit increases. Sanhua Intelligent Controls, a global leader in NEV thermal management, expanded its order book through benchmark client relationships. Asia-Pacific Brake Systems, a major domestic brake supplier, projected net profit growth of 120-170%, explicitly attributing the jump to the rapid expansion of the NEV market.
AI is rapidly penetrating every industry. Nearly 20 listed companies reported that their businesses directly benefited from AI development trends. Dingtong Technology, a connector manufacturer, reported that AI-driven demand for communication connectors led to projected net profit of 242 million yuan, up 120% year-on-year. The company's high-speed data communication products saw particularly strong demand as data centers expanded to support AI workloads.
Beyond technology, traditional industries also showed strong performance. The basic chemicals sector experienced both volume and price increases. Sanmei, a fluorochemical refrigerant leader, projected net profit of 19.9 to 21.5 billion yuan, up 156-176% — its best performance in years — driven by supply-side structural reform and steady demand recovery. The non-ferrous metals sector also benefited from high commodity prices, with Zijin Mining projecting net profit of 510-520 billion yuan, up 59-62%, as its market capitalization exceeded one trillion yuan.
Overseas markets emerged as a significant new growth engine. Sieyuan Electric reported 2025 revenue of 21.2 billion yuan, up 37%, with net profit of 3.16 billion yuan, up 54%, driven by international market expansion. Absen, a global LED display provider, projected net profit up 105-148%, citing operations spanning 140 countries. Chutian Technology swung from a loss to profit of 235-300 million yuan, driven by breakthroughs in Southeast Asia, the Middle East, and the Americas.
Knowledge takeaway: More than 600 Chinese listed companies released 2025 earnings previews showing strong growth in semiconductors, AI, and NEV sectors; traditional industries like chemicals and metals also benefited from volume and price increases; overseas markets have become a major revenue driver for many companies; analysts note that technology advantages are replacing price advantages as the main source of export competitiveness for Chinese firms.