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

As of February 1, among companies listed on the Beijing Stock Exchange, 125 have already released profit forecasts for FY 2025 or published performance quick reports, and the market’s annual “scorecard” is starting to take shape.

According to Wind data, among the companies that have disclosed forecasts, 76 are expected to turn a profit in 2025, with the profitability rate exceeding 60%. Among them, companies with “positive” performance expectations (including profit increases and turnaround from loss) total 40.

In terms of growth rate, 27 companies have forecast year-over-year growth in attributable net profit. Companies such as Hongyu Packaging Materials, Huiwei Intelligent, and Haineng Technology, among more than ten others, are expected to see year-over-year attributable net profit more than double, demonstrating strong earnings elasticity. In addition, 13 companies are expected to turn losses into profits.

Earnings growth comes with clear structural divergence. On one hand, companies in areas such as high-end manufacturing, the digital economy, and healthy consumption have shown significant performance growth. On the other hand, some industries—such as photovoltaic equipment—are still in a adjustment phase and face interim pressure. The divergence in performance is closely related to the industry outlook of each company and the effectiveness of their own operational strategy implementation, reflecting the differentiated development status of Beijing Stock Exchange-listed companies across different tracks.

Looking at specific cases, a batch of companies have become market focal points thanks to strong earnings growth rates. Hongyu Packaging Materials expects attributable net profit of RMB 17 million to RMB 22 million in 2025, up 357.91% to 492.59% year over year, with the growth rate currently among the top. Regarding the reasons for the performance change, the company said: During the reporting period, it closely followed the overall profit-oriented approach, optimized its customer and product structure, and increased the proportion of high-gross-margin customer order volume. At the same time, it strengthened analysis of procurement costs and price negotiations, and cost-reduction results were significant.

Haineng Technology’s performance growth rate is also among the leading positions. The company expects attributable 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 the profit forecast is mainly driven by the overall rebound in industry market demand, the clear trend of domestic manufacturing of high-end instruments, faster growth in areas such as new materials, new energy, and pharmaceuticals, and that the newly launched high-end instrument products have gained market recognition.

Jinjin Health Care Medical is expected to achieve attributable net profit of RMB 15 million to RMB 16 million in 2025, 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 full-channel operations drive growth in its core business. In addition, after the company acquired Intricon’s hearing health business in 2024, it rapidly digested and absorbed the core technology of Intricon’s hearing aid DSP chips, resulting in a significant increase in hearing aid chip sales revenue.

In terms of absolute profitability scale, some companies show considerable volume. Among companies expected to be profitable, 20 are expected to have an upper limit for attributable net profit exceeding RMB 50 million.

Among them, Hengdong Optics is expected to have an upper limit for attributable net profit of RMB 310 million, up 82.95% to 110.05%. The company attributes the growth to the rapid growth in AI computing power demand and the acceleration of data center construction, which continues to drive demand for global passive optical components.

Jilin Carbon Valley is also performing strongly, with expected attributable 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 continues to innovate and tackle key technologies to improve product stability and performance, product sales have achieved sustained growth.

Some companies, leveraging their accumulation in niche areas and positioning themselves in highly favorable sectors, have achieved high-quality earnings growth. For example, Starcon Technology expects attributable net profit of RMB 33 million to RMB 35 million in 2025, 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 a key driver for the company’s overall profit growth. Meanwhile, in the aerospace and defense industry, multiple pre-research projects successfully entered small-batch production stages, further boosting performance.

Lechuang Technology expects attributable net profit of RMB 33 million to RMB 35 million in 2025, up 95.46% to 107.31% year over year. The company said that during the reporting period, with the explosive growth of the smart eyewear consumer market, leading brand owners expanded investment in production lines, driving a surge in demand for upstream dispensing machine equipment. As a result, sales of its core dispensing control systems increased significantly. The company’s five-axis dispensing control systems won bulk orders thanks to advantages in high-speed, high-precision, and intelligent capabilities, driving performance to achieve a doubled growth rate.

In the field of computing power services, Parallel Technology expects attributable net profit of RMB 20 million to RMB 25 million, up 65.88% to 107.35% year over year. The company said that against the backdrop of rapid growth in the computing power services industry, it improves the operational efficiency of computing power resources by building an intelligent scheduling platform. The benefits from scaling up are gradually being released, and the effectiveness of cost and expense control is significant.

Among the 13 companies expected to turn losses into profits, the paths to performance improvement are diverse, mainly including business recovery, asset disposals, expense control, and investment income.

Shengnan Technology expects attributable net profit of RMB 7.5 million to RMB 11 million, turning a loss into profit on a year-over-year basis. The company said: During the reporting period, the supply schedule for products supporting its main business remained stable, and demand in the field of defense equipment support was relatively steady. Meanwhile, compared with 2024, the impact of product pricing review on revenue has decreased.

Jinjin Technology expects attributable net profit of RMB 8.25 million to RMB 10.70 million, turning a loss into profit on a year-over-year basis. The reasons for the performance change include strengthening accounts receivable management to reduce credit impairment losses, selling the equity of controlling subsidiaries to generate investment gains, accelerating collections through debt restructuring to generate returns, and revenue recognition from government subsidies carried forward.

Zhuozhao Dispensing Equipment expects attributable net profit of RMB 45 million to RMB 60 million, turning a loss into profit. The company said that the growth in performance is driven by the delivery and acceptance of existing projects, stable operations of the original business, growth in a new MetaAI glasses business by enabling volume through indirect supply of precision dispensing valves via integrated suppliers, and the profit contribution from bringing controlling subsidiaries into consolidation.