125 Beijing Stock Exchange company earnings forecasts released; high-growth camp highlights new industry momentum

As of February 1, among the companies listed on the Beijing Stock Exchange, 125 have already released preliminary guidance on 2025 annual performance or performance quick reports, and the outline of the market’s annual “scorecard” is beginning to emerge.

According to Wind data, among the companies that have disclosed guidance, 76 are expected to be profitable in 2025, with a profit margin of more than 60%. Among them, the total number of companies with “positive guidance” (including earnings increases and turning loss to profit) is 40.

In terms of growth rates, 27 companies expect their parent-company net profit to increase year over year. Of these, more than a dozen companies such as Hongyu Packaging Materials, Huiwei Intelligent, and Haineng Technology are expected to see their parent-company net profit more than double year over year, showing strong performance elasticity. In addition, 13 companies are expected to turn a loss into a profit.

The growth in performance comes with clear structural differentiation. On the one hand, companies in areas such as advanced manufacturing, digital economy, and health consumption have seen significant performance growth. On the other hand, some industries such as photovoltaic equipment are still in a period of adjustment and face periodic pressure. The performance split is closely related to the industry conditions of each company and the execution effectiveness of their own operating strategies, reflecting the differentiated development landscape of Beijing Stock Exchange listed companies across different tracks.

Looking at specific cases, a group of companies has become a market focus by delivering outstanding year-on-year performance growth. Hongyu Packaging Materials expects 2025 parent-company net profit of RMB 17 million to RMB 22 million, up 357.91% to 492.59% year over year, with the growth rate temporarily among the top. Regarding the reasons for the change in performance, the company said: during the reporting period, it closely followed the overall profit-oriented approach, optimized customer and product structures, and increased the share of orders from high-margin customers; at the same time, it strengthened cost analysis and price negotiations for procurement, and cost-reduction results were significant.

Haineng Technology’s performance growth is also among the top. The company expects to achieve parent-company net profit of RMB 41 million to RMB 44 million, up 213.65% to 236.61% year over year. The company said that the large increase in its earnings guidance is mainly due to an overall rebound in industry market demand, the trend of domestically manufactured high-end instruments gaining traction, faster growth in the company’s new materials, new energy, and pharmaceutical sectors, and market recognition for its newly launched high-end instrument products.

JinJiu Medical (锦好医疗) expects parent-company net profit of RMB 15 million to RMB 16 million, up 150.98% to 167.72% year over year. The company said: demand in the U.S. OTC hearing aid market continues to grow, and growth in the core business is driven by full-channel operations; meanwhile, after the company acquired Intricon’s hearing health business in 2024, it quickly absorbed and digested the core DSP chip technology for hearing aids, leading to a significant increase in hearing aid chip sales revenue.

From the perspective of absolute profitability size, some companies show substantial scale. Among the companies expected to be profitable, 20 are expected to have a parent-company net profit upper limit exceeding RMB 50 million.

Among them, Hengdong Optoelectronics (蘅东光) expects its parent-company net profit upper limit to reach RMB 310 million, up 82.95% to 110.05%. The company attributes the growth to rapid growth in AI computing power demand, and accelerating data center construction driving continued growth in global demand for passive optical components.

Jilin Carbon Valley is also performing strongly, and expects to achieve parent-company net profit of RMB 180 million to RMB 220 million, up 92.81% to 135.66%. The company said that as the carbon fiber market gradually recovers, and as the company continuously innovates and tackles technical issues to improve product stability and performance, product sales have achieved sustained growth.

Some companies have achieved high-quality performance growth by accumulating strength in niche areas and securing positions in highly favorable sectors. For example, Xingchen Technology expects 2025 parent-company net profit of RMB 33 million to RMB 35 million, up 105.3%% to 117.74% year over year. The company said: in the new energy sector, it continues to enhance product competitiveness and market share, and this segment has become the key engine for the company’s overall profit growth; meanwhile, in the aerospace and defense sector, multiple companies’ pre-research projects have successfully entered small-batch production, further driving performance improvement.

Lechuang Technology expects 2025 parent-company net profit of RMB 33 million to RMB 35 million, up 95.46% to 107.31% year over year. The company said: during the reporting period, with the explosive growth of the smart eyewear consumer market, leading brand companies expanded investments in production lines, driving a surge in demand for upstream dispensing machine equipment. The sales of the company’s core dispensing control systems also climbed sharply. Relying on advantages such as high speed, high precision, and intelligent features, the company’s five-axis dispensing control system secured bulk orders and drove the company’s performance to grow by about double.

In the computing power services sector, Parallel Technology expects to achieve parent-company net profit of RMB 20 million to RMB 25 million, up 65.88% to 107.35% year over year. The company said: against the backdrop of booming growth in the computing power services industry, the company improves the efficiency of operating computing power resources by building an intelligent scheduling platform; the scale effect has been gradually released, and expense control has been effective.

Among the 13 companies expected to turn loss into profit, there are diverse paths for performance improvement, mainly including business recovery, asset disposal, expense control, and investment gains, among others.

Shengnan Technology expects to achieve parent-company net profit of RMB 7.5 million to RMB 11 million, turning loss to profit on a year-over-year basis. The company said: during the reporting period, the supply cadence for the company’s main business product supporting items remained steady, and demand in the defense equipment supporting supply area was relatively stable; meanwhile, compared with 2024, the impact of product pricing validation on revenue has decreased.

Liujin Technology expects to achieve parent-company net profit of RMB 8.25 million to RMB 10.70 million, turning loss to profit on a year-over-year basis. The reasons for the change in performance include strengthening accounts receivable management leading to a reduction in credit impairment losses, selling the equity of a controlling subsidiary to generate investment gains, accelerating cash collection via debt restructuring to generate gains, and recording government subsidies recognized in the period.

Zhuozhao Dispensing (卓兆点胶) expects parent-company net profit of RMB 45 million to RMB 60 million, turning loss into profit. The company said that the growth in performance comes from the completion of acceptance for existing projects, stable operations in the original business, and the emerging MetaAI glasses business expanding volume through indirect supply of precision dispensing valves via integrated manufacturers, as well as profit contribution from the consolidation of a controlling subsidiary.