Over 80% of consumer electronics and home appliance A-share companies will become profitable by 2025

Benefiting from deep AI technology enablement, diversified expansion of business and overseas markets, and the implementation of policies such as “trade-in for upgrades,” in 2025, China A-share consumer electronics and home appliance industries overall showed a steady pattern of repair and recovery. Companies are accelerating their transformation and upgrading, gradually moving into a new stage of value improvement.

According to Choice data: as of 19:00 on April 1, among 35 A-share consumer electronics companies that have disclosed their 2025 performance, 30 have achieved profitability and 18 have posted positive year-over-year growth; among 34 home appliance companies that have disclosed their 2025 performance, 32 have achieved profitability and 13 have posted positive year-over-year growth. Overall, more than 80% of A-share consumer electronics and home appliance companies achieved profits in 2025, with leading and innovation-oriented companies performing especially well.

Diverse layout strengthens the foundation for consumer electronics growth

Data shows that among the 35 consumer electronics companies mentioned above, 18 had year-over-year positive performance growth and 2 turned losses into profits. Industry-wide profitability resilience has become evident, and the development trend remains stable.

The accelerating surge in global AI compute demand has become an important growth driver for the industry. A number of consumer electronics companies, such as Foxconn Industrial Internet and e-knowledge (协创数据), have delivered rapid performance growth.

Foxconn Industrial Internet’s 2025 revenue reached RMB 902.89B, up 48.22% year over year; its net profit attributable to shareholders was RMB 35.29B, up 51.99% year over year. The company said that the high growth in performance was mainly driven by the continuous improvement of profitability in its cloud computing business. In 2025, the company’s cloud computing business revenue reached RMB 602.68B, up 88.70% year over year.

e-knowledge achieved a net profit attributable to shareholders of RMB 1.16B in 2025, with a year-over-year increase of 68.32%. This was due to the company seizing opportunities arising from the growing demand for industry compute infrastructure construction, under which its intelligent compute products and services business segment recorded rapid revenue growth.

Meanwhile, a number of leading companies have laid out diversified intelligent manufacturing businesses, continuously strengthening their profit base and injecting stable momentum into the industry’s development.

In 2025, Wistron (华勤技术) completed a strategic upgrade of its “3+N+3” intelligent product platform, building a three-business-matrix structure: a mobile terminal product lineup centered on smart phones, a digital productivity product lineup centered on personal computers, and a full-stack data center infrastructure product lineup. The company significantly increased shipment volumes across its products. In 2025, the company achieved net profit attributable to shareholders of RMB 4.05B, up 38.55% year over year.

In the consumer electronics terminal space, deepening focus on overseas and emerging markets has become a common choice for terminal brand companies such as Transsion Holdings and Edifier. At the same time, many companies have also been impacted by the rise in storage prices. Taking Transsion Holdings as an example, affected by market competition and supply-chain cost pressures, prices of components such as storage have risen substantially. As a result, the company’s operating revenue and gross margin rate declined to some extent. In 2025, it achieved net profit attributable to shareholders of RMB 2.58B, down 53.49% year over year.

Going global and premiumization open up growth space for home appliances

In the home appliances segment, as of 19:00 on April 1, a total of 34 companies had disclosed their 2025 performance. Of these, 32 achieved profitability, and 13 achieved positive year-over-year growth.

In 2025, multiple A-share home appliance companies such as Midea Group and Haier Smart Home carried out overseas capital operations and industrial integration, providing incremental support for performance growth.

Taking Midea Group as an example, the company completed acquisitions of Arbonia, Toshiba elevator China business, and R&C Medical’s international business, among others. In 2025, its ToB business revenue reached RMB 122.8 billion, up 17.5% year over year. The company’s overseas revenue in 2025 was RMB 195.9 billion, up 16% year over year. For the full year, it achieved net profit attributable to shareholders of RMB 43.95B, up 14.03% year over year.

Premiumization has also become an important growth logic in the home appliance industry. Many listed companies have focused on product innovation and iteration as well as business-structure optimization, continuously improving gross margin and market competitiveness.

In 2025, Haier Smart Home’s Leader “lazy washing” tri-tub washing machine sales exceeded 300k units, and the sales of a single model remained No. 1 in the industry. The total sales of the Maicang series refrigerators surpassed 1 million units, and they held the No. 1 position in the premium market above RMB 8,000. Based on this, the company achieved net profit attributable to shareholders of RMB 300k in 2025, up 4.39% year over year.