Over 100 performance forecasts released by the Beijing Stock Exchange, with over 60% expecting profits

The performance “report card” of companies listed on the Beijing Stock Exchange in 2025 is entering a period of intensive release. As of February 11, when the reporter’s article was published, a total of 123 Beijing Stock Exchange-listed companies had issued earnings forecasts, with over 60% expecting profits, 27 companies forecasting increases, and 13 turning losses into profits; 24 companies released performance quick reports, with approximately 67% achieving year-over-year growth in net profit attributable to parent, demonstrating strong momentum among listed companies to seize market demand and proactively optimize operations.

Over 60% Forecast Full-Year Profits

As of February 11, out of 292 listed companies on the Beijing Stock Exchange, 123 had issued earnings forecasts. In terms of profitability, 75 companies are expected to be profitable for the full year of 2025, accounting for over 60%. Companies such as Hengdongguang and Jilin Carbon Valley are among the 20 listed companies with an estimated maximum net profit attributable to parent exceeding 50 million yuan.

Regarding growth, more than 40% (51 companies) are expected to see improved performance or net profit compared to the same period last year, including 27 companies with forecasted increases and 13 turning losses into profits. Eighteen Beijing Stock Exchange-listed companies are expected to see their net profit attributable to parent grow by more than 100% at the lower bound in 2025.

Specifically, nine companies such as Knight Dairy and Hongyu Packaging have a lower bound of net profit attributable to parent exceeding 200%, while nine others like Shengnan Technology, Jinhui Medical, and Laise Laser are expected to see growth between 100% and 200%. Additionally, 18 companies including Lechuang Technology, Jilin Carbon Valley, Qifeng Precision, and Hengdongguang forecast their net profit growth rate between 50% and 100%.

Many listed companies have stated that, benefiting from increased market demand and order volume, their performance growth in 2025 is significant.

For example, Hongyu Packaging expects its net profit attributable to parent in 2025 to be approximately 17 million to 22 million yuan, with year-over-year growth ranging from 357.91% to 492.59%, showing rapid growth. Hongyu Packaging indicated that the company optimizes customer and product structure based on profit orientation, increasing high-margin customer order proportion; simultaneously, it enhances procurement cost analysis and price negotiations, chooses low-price points for centralized procurement, and achieves significant cost reductions.

Haineng Technology also stated that the overall industry market demand has rebounded, with a notable trend toward domestic manufacturing of high-end instruments, and the gradual implementation of equipment renewal policies. The company is experiencing rapid growth in new materials, new energy, and pharmaceuticals. During the reporting period, it is expected to achieve operating revenue of about 362 million yuan, a year-over-year increase of approximately 16.77%, with revenue across all product series growing. The earnings forecast indicates that Haineng Technology’s net profit attributable to parent in 2025 is expected to reach 41 million to 44 million yuan, a growth of 213.65% to 236.61% year-over-year.

Furthermore, as of February 11, the Beijing Stock Exchange also saw 24 listed companies release their 2025 performance quick reports. Among them, 16 companies achieved positive year-over-year growth in net profit attributable to parent, accounting for about 67%. Companies such as Jinhui Medical, Wuxi Jinghai, and Tonghui Electronics have a net profit growth rate exceeding 20%.

In terms of industry distribution, the companies with improving performance on the Beijing Stock Exchange span high-end manufacturing, digital economy, health consumption, and other sectors. Some companies in niche fields leverage sector dividends and technological accumulation to achieve high-quality growth.

Multiple Paths to Turn Losses into Profits or Reduce Losses

In addition to high-performing companies with continuous growth, 13 companies such as Shibi Bai and Zhuozhao Dianzhao are expected to turn losses into profits in 2025, and one company (Tonghui Information) is expected to narrow its losses, highlighting proactive operational optimization.

According to announcements, Shibi Bai expects its net profit attributable to shareholders in 2025 to be between 50 million and 60 million yuan, turning profitable from a loss of 3.675 million yuan in the same period last year.

Regarding the reasons, Shibi Bai believes that accelerated industry substitution and increased market demand are key factors driving the overall performance growth. The company’s main products are metal appearance composite materials, mainly used in exterior parts of household appliances such as refrigerators, washing machines, and air conditioners. They are produced using roller coating (pre-coating) processes, which are more environmentally friendly and align with the “dual carbon” goals and global environmental regulations. On the demand side, policies like “national subsidies” for old-for-new appliance upgrades continue to boost sales, and the expansion of smart and high-end home appliances further increases demand for environmentally friendly and aesthetically pleasing metal appearance composite materials.

Zhuozhao Dianzhao relies on steady operation of existing projects, the implementation of Meta AI glasses business, and synergies from consolidating subsidiaries to expect to turn losses into profits, with net profit attributable to parent ranging from 45 million to 60 million yuan. Last year, it reported a loss of 20.75 million yuan.

According to Zhuozhao Dianzhao, in 2025, the company will steadily advance acceptance and implementation of existing projects, contributing millions in profit; its original fruit chain business, leveraging mature technology and comprehensive service capabilities, maintains steady operations and also contributes millions in profit. Meanwhile, emerging businesses planned for 2024 are beginning to realize performance, notably the Meta AI glasses segment, which has achieved significant results. During the reporting period, the company supplied precision dispensing valves to Meta through integrated manufacturers and OEMs, generating net profits of over 10 million yuan. The wholly owned subsidiary Guangdong Pusen Plastic Technology Co., Ltd. was officially included in the consolidated financial statements on January 31, 2025, and benefits from deep collaboration and resource sharing, becoming an additional profit source, contributing over 10 million yuan in net profit attributable to parent during the period.

Additionally, companies like Digital Human and Shengnan Technology have also turned losses into profits through project acceptance and steady growth in defense equipment supporting demand, demonstrating strong business recovery capabilities.

“Overall, the paths for loss-making companies on the Beijing Stock Exchange to improve are diverse, mainly including recovery of main business, asset disposal, cost control, and investment income, reflecting the effectiveness of proactive operational optimization,” said Galaxy Securities.

Strong Overall Performance Expectations

Looking ahead, institutions believe that Beijing Stock Exchange-listed companies still have good annual performance prospects. The sector remains highly active, with valuations relatively low at this stage. With multiple factors such as liquidity and performance expectations, the Beijing Stock Exchange sector has medium- to long-term investment value and may see a spring rally driven by high-quality targets with new productive capabilities and high growth rates.

Galaxy Securities states that, looking into 2026, the spring market on the Beijing Stock Exchange is supported by corresponding performance. In the first three quarters of 2025, a relatively high proportion of listed companies showed positive earnings growth, and many companies’ full-year earnings forecasts anticipate high net profit growth. This overall positive performance could support a seasonal spring rally. Although valuation levels have risen significantly compared to previous years, the overall quality of listed companies has improved, and with a phased valuation correction, a spring rally remains possible.

Open Source Securities believes that the Beijing Stock Exchange, as a platform concentrated with specialized and innovative “little giant” enterprises, still offers promising opportunities, especially in segments like artificial intelligence, solid-state batteries, commercial aerospace, and robotics. After two years of sustained growth, the overall valuation center has moved upward, so expectations for valuation expansion should be more cautious, with a greater emphasis on sustained performance. Additionally, recent listings of high-quality companies, some of which are less followed or insufficiently researched, present significant potential opportunities.

Regarding specific investment areas, Galaxy Securities states that, with the steady advancement of IPOs, continuous implementation of refinancing projects, and ongoing inflow of medium- and long-term funds, the investment strategy for 2026 will focus on two main directions: first, a top-down approach targeting new productive capabilities on the Beijing Stock Exchange, focusing on emerging industries such as new energy (like hydrogen and nuclear fusion), embodied intelligence (such as robotics components), biomanufacturing, mobile communications, and new consumption, especially companies with “scarce” business models and main products in the A-share market; second, a bottom-up approach based on financial indicators, focusing on companies with high growth, strong R&D investment, large capacity release potential, and robust growth prospects with “strong and lasting” development potential.