Q1 earnings forecast accelerated disclosure, nearly 90% of companies report positive results

Wind data shows that as of 17:00 on March 29, a total of 17 A-share listed companies have disclosed their 2026 Q1 performance forecasts, with 15 companies issuing positive outlooks; the positive outlook ratio is 88.24%.

Specifically, among the companies with leading expected year-on-year increases in 2026 Q1 net profit attributable to shareholders of listed companies are Fuxiang Pharmaceutical, Wanbangde, and Fuliwang, among others. Among them, Fuxiang Pharmaceutical expects that the upper limit of its net profit for 2026 Q1 will reach a year-on-year increase of 3,250.01%.

Some companies expect a sharp surge in net profit

Fuxiang Pharmaceutical expects that in 2026 Q1, its net profit attributable to shareholders of listed companies will be RMB 52 million to RMB 75 million, up 2,222.67% to 3,250.01% year over year.

Regarding the reasons for the growth in performance, in its performance forecast, Fuxiang Pharmaceutical states that during the reporting period, benefiting from the continued improvement in the new energy industry’s outlook, demand in the power battery market grew steadily, while demand in the energy storage battery market saw a rapid surge, driving a sustained rise in demand for upstream lithium battery materials. The company’s lithium battery electrolyte additive business has been operating well; core products such as VC and FEC saw increases in both volume and price, thereby pushing the company’s year-on-year performance up significantly.

Wanbangde expects that in 2026 Q1, its net profit attributable to shareholders of listed companies will be RMB 165 million, up 985.4% year over year. The main reason for the change in performance is that the company’s strategic transformation from generic drugs to innovative drugs has begun to show initial results; during the reporting period, business expansion made positive progress, bringing new growth drivers. During the reporting period, the company strengthened internal management and increased efforts to recover accounts receivable, effectively accelerating the return of funds.

Fuliwang expects that in 2026 Q1, revenue will be RMB 500 million to RMB 600 million, up 47.72% to 77.26% year over year; net profit attributable to shareholders of listed companies will be RMB 40 million to RMB 50 million, up 183.84% to 254.81% year over year. The main reason for the company’s performance growth is an increase in operating revenue from its 3C consumer electronics business, which drives an increase in net profit. Meanwhile, its subsidiary Nantong Fuliwang, as operating efficiency improves and production capacity continues to be released, has already achieved break-even and its operating conditions are gradually improving.

Some listed companies have benefited from product price increases, leading to a significant jump in earnings.

Tianshan Aluminum expects that in 2026 Q1, its net profit attributable to shareholders of listed companies will be RMB 2.2 billion, up 107.92% year over year. The main reasons for the growth in company performance are: that part of the 1.4 million tons of green low-carbon energy-efficiency improvement project for electrolytic aluminum has commenced production, and electrolytic aluminum’s production and sales volumes increased year over year by approximately 10%; at the same time, the sales price of electrolytic aluminum products increased year over year by approximately 17%, and production costs have been effectively controlled.

Broad improvement in sectors such as pharmaceuticals and semiconductors

Judging from the industry, sectors such as pharmaceuticals manufacturing and semiconductors have seen clear growth in the performance of listed companies.

Among pharmaceuticals manufacturing listed companies, Wanbangde, Fuxiang Pharmaceutical, and Aierlis, among others, are expected to see both 2026 Q1 performance and long-term development prospects improve.

Aierlis expects that in 2026 Q1, attributable net profit will be RMB 590 million, up 43.73% year over year. It states that benefiting from the support and coverage of national medical insurance policies, revenue from commercialized product sales and promotional service revenue has continued to grow, driving operating performance to keep rising.

Fuxiang Pharmaceutical states that the company’s VC product planning is arranged reasonably according to the annual operating plan and the order demand from downstream customers, ensuring stable fulfillment of customer needs. Currently, the company has 8,000 tons per year of VC product capacity. It plans to increase VC product capacity to 10,000 tons per year through measures such as technological upgrades and renovation. It is expected that the renovation will be completed in the second quarter of 2026, and the specific project construction progress will be advanced steadily according to actual conditions. Based on recent market conditions, VC product prices have remained broadly stable overall. Product prices are comprehensively affected by multiple factors including raw material costs, market supply and demand relationships, and industry inventory levels, and therefore have uncertainty. As of now, downstream demand remains in growth. The company takes a cautiously optimistic view of the market outlook for the second quarter, and will continue to control costs through lean management, enhancing product competitiveness.

Among semiconductor listed companies, Dinglong Co., Ltd., Higo Information, and Aolai De, among others, have issued positive profit forecasts for 2026 Q1.

Higo Information expects that in 2026 Q1, its net profit attributable to shareholders of listed companies will be RMB 620 million to RMB 720 million, up 22.56% to 42.32% year over year. It states that during the reporting period, the company continued to increase R&D investment, continuously optimized product performance, improved product iteration speed, and drove the expansion of the market footprint for its high-end processor products, achieving a significant increase in operating revenue and sustained growth in overall performance.