Brokerage firms' April top stocks announced, 4 companies with significant earnings growth

Since March, due to disruptions in geopolitical risk, the A-share market has continued to trade in a volatile, sideways pattern. Brokerage firms remain firmly optimistic about the long-term allocation value of Chinese assets, and many have released positive assessments. Recently, brokers have successively disclosed their April “top stock picks” (“golden stocks”)—nearly 100 underlying companies covered major core sectors. Among them are high-quality stocks with strong earnings growth, which have also been added to long-term heavy positions by funds such as the Social Security Fund, becoming a main line of stocks that offer allocation value in the current volatile market.

Optimistic about the future prospects of Chinese assets

With global markets continuing to be disrupted by geopolitical factors, multiple brokers have pointed out that Chinese assets are expected to demonstrate resilience in a complex environment, and the appeal of long-term allocation is becoming increasingly prominent.

A research report from Ping An Securities believes that, amid repeated geopolitical risk fluctuations, short-term equity market volatility may continue, and defensive-style and energy security sectors may have a relative advantage. From a longer-term perspective, the advantages of the completeness and security of China’s supply chain are expected to be further strengthened, and the attractiveness of RMB-denominated assets may benefit accordingly.

A research report from Guojin Securities believes that, on the one hand, China has a globally leading coal-chemical and power equipment industrial chain. The completeness of its energy system not only reduces vulnerability to external shocks, but can also provide effective energy substitution for the world. On the other hand, China’s manufacturing industry leaders are in a historically undervalued range compared with overseas industry giants in terms of both price-to-earnings ratios and capacity value dimensions. Continued growth in exports in itself proves the foundation for their re-rating. Meanwhile, China’s domestic demand shows signs of endogenous recovery, and export settlement in foreign exchange may be transmitting toward domestic demand.

Brokers’ April recommendations: 98 “golden stock” picks

According to statistics by Securities Times · Data Bao, as of the close on March 31, 14 brokerage firms have already released their April “golden stock” picks, with a total of 98 “golden stock” picks listed. In terms of industry distribution, the April “golden stock” picks cover the greatest number of individual stocks in the power equipment industry, with a total of 9; and five industries—electronics, machinery and equipment, basic chemicals, communications, and non-ferrous metals—each have 6.

15 stocks received recommendations from two or more brokerage firms. China National Offshore Oil Corporation, JCHI, PharmaCylinder (BeiGene?)—note: the original text is “药明康德” (CSPC?) should be kept as-is in meaning—Wissun?—note: the original text is “安井食品” (Any; Anjing Food)—and Zijin Mining received recommendations from three brokerage firms. Among them, China National Offshore Oil’s highest rise in March was 11.51%. Ping An Securities said that high oil and gas prosperity is expected to continue, and the company has advantages of low cost plus steady volume growth.

JCHI’s stock rose 6.63% in March. China Galaxy Securities believes the company benefits from growth in demand for high-speed optical modules represented by 800G; coupled with an increase in the penetration rate of silicon photonics optical modules. In addition, production and scale shipments of 1.6T optical modules based on silicon-photonics solutions are expected, and the products have a foundation for rising both volume and price.

From the perspective of market performance, the April “golden stock” picks recommended by brokers have averaged fallen 2.48% since March. Xingxing Co., Ltd., Yaxiang Integration, and XinYiSheng led the gains, reaching 56.41%, 24.74%, and 23.06%, respectively.

Four “golden stock” picks with major earnings growth

As of the close on March 31, among the April “golden stock” picks recommended by brokers, 48 had already released their 2025 annual reports. Their performance is generally positive: 1 stock turned losses into profits, 35 stocks recorded year-on-year growth in net profit attributable to shareholders. Zhida Mingda, Jinhai Tong, JCHI, and PharmaCylinder (BeiGene?)—note: “药明康德”—all recorded year-on-year growth in net profit attributable to shareholders of more than 100%.

Zhiminda achieved net profit attributable to shareholders of RMB 102 million in 2025, up 425.27% year-on-year. The company said that with a significant increase in customer demand, new orders in 2025 grew sharply compared with the same period of the previous year. With increased deliveries, revenue rose. Specifically, revenue from aircraft-borne products grew 51% year-on-year; revenue from missile-borne products grew 167% year-on-year; and revenue from other categories grew 49% year-on-year. As of the end of 2025, the company’s backlog was RMB 417 million (including verbal orders).

Jinhai Tong achieved net profit attributable to shareholders of RMB 177 million for 2025, up 124.93% year-on-year. The company’s revenue grew strongly both domestically and internationally: domestic revenue was RMB 610 million, up 67.15% year-on-year; overseas revenue was RMB 85.9314 million, up 125.62% year-on-year. Since its establishment, the company has been deeply focused on the field of integrated circuit test sorting machines. Its products’ technical indicators—such as the dimensions of testable chips, UPH, test pressure, temperature range, and stability—are all at internationally advanced levels.

Some brokerage-recommended April “golden stock” picks have won favor from the Social Security Fund. Among the 48 stocks that released their annual reports above, 13 have the Social Security Fund appearing in the list of the top 10 tradable shareholders. The total market value of Social Security Fund holdings reached RMB 11.922 billion. BYD, Haier Smart Home, and China Jushi rank ahead with RMB 3.813 billion, RMB 1.905 billion, and RMB 1.462 billion, respectively.

Statement: All information contained in Data Bao does not constitute investment advice. The stock market involves risks; investment requires caution.

Proofreading: Wang Chaquan