Earn nearly 200 million in one day, "Ning Wang" achieves a new profit high! The first batch of 2025 annual reports for A-shares are released.

Source: Securities Times Network Author: Zhang Zhibo

Multiple blue-chip stocks including CATL, Tonghuashun, and Tinci Materials released their 2025 annual reports on the evening of March 9.

“CATL” earns 72.2 billion yuan in 2025

CATL released its 2025 annual report yesterday evening (March 9). In 2025, it achieved revenue of 423.702 billion yuan, a year-on-year increase of 17.04%; net profit attributable to shareholders was 72.201 billion yuan, up 42.28% year-on-year. The company’s performance in 2025 remained steadily growing, earning about 1.98 billion yuan daily, with both revenue and net profit hitting record highs.

The company stated that the main driver of performance growth is the sustained industry expansion. In terms of power batteries, the global increase in new energy vehicle sales has driven continuous growth in demand for power batteries. According to SNE Research, global new energy vehicle sales in 2025 reached 21.47 million units, a 21.5% increase year-on-year; global power battery usage reached 1,187 GWh, up 31.7%.

For energy storage batteries, under the influence of countries’ clean energy transition goals and demand in emerging fields, the energy storage battery market demand continued rapid growth. According to SNE Research, global energy storage battery shipments in 2025 totaled 550 GWh, a 79% increase year-on-year.

CATL also announced a distribution plan, proposing a cash dividend of 69.57 yuan (including tax) for every 10 shares, with no capital reserve transfer or bonus shares. In 2025, the total cash dividends and share repurchases amounted to 40.486 billion yuan, accounting for 56.07% of the net profit attributable to shareholders in the consolidated financial statements for 2025.

First batch of 2025 annual reports for A-shares released

According to Securities Times Data Treasure, as of March 9, 47 A-share listed companies had released their 2025 annual reports. In terms of net profit scale, 21 companies reported annual net profits exceeding 300 million yuan. CATL, ZTE, and Tonghuashun rank the top three, with net profits of 72.201 billion yuan, 5.618 billion yuan, and 3.205 billion yuan respectively; Shan Jin International, *ST Songfa, Desay SV, and Putailai all reported net profits over 2 billion yuan.

ZTE achieved revenue of 1,338.96 billion yuan in 2025, a 10.38% increase; net profit attributable to shareholders was 5.618 billion yuan, down 33.32% year-on-year. Bank of America Securities pointed out that ZTE’s government and enterprise business revenue doubled, mainly driven by the expansion of server scale; server business accounted for 20% of total revenue in 2025, significantly higher than less than 10% in 2024.

The firm expects ZTE’s growth to remain strong this year, based on expanding customer bases from Baidu and Alibaba to potential clients like Tencent and ByteDance, accelerating demand for general cloud servers, and ongoing expansion of AI server business; increased share of supercluster products will enhance ZTE’s profit margins.

Tonghuashun released its 2025 annual report on the evening of March 9, achieving revenue of 6.029 billion yuan, up 44%; net profit attributable to shareholders was 3.205 billion yuan, up 75.79%.

The performance growth mainly stems from the company’s increased investment in AI and related fields, promoting product and large model technology integration and innovation, optimizing core product competitiveness and user experience, leading to rapid growth across various business segments; meanwhile, domestic capital markets remain active, investor confidence is strong, market trading activity has significantly increased, and demand for financial information services has grown.

These stocks’ 2025 performances are significantly improved

Looking at net profit changes, a total of 14 companies saw their 2025 full-year net profits increase by more than 30% year-on-year. Tinci Materials, Wuhua Medicine, Dajin Heavy Industry, and Zhizhen Zhineng all doubled their net profits, with Tinci Materials experiencing the highest increase at 181.43%.

Electrolyte leader Tinci Materials released its 2025 annual report on the evening of March 9, reporting revenue of 16.65 billion yuan, up 33%; net profit attributable to shareholders was 1.362 billion yuan, up 181.43%. Notably, in Q4 2025, the net profit attributable to shareholders reached 941 million yuan, nearly 70% of the total annual net profit.

This outstanding performance was mainly driven by a sharp rise in lithium hexafluorophosphate prices. Data shows that in July 2025, lithium hexafluorophosphate was priced at about 49,300 yuan/ton, and by the end of 2025, the price had risen to around 180,000 yuan/ton, an increase of over 2.5 times.

Additionally, Tinci Materials announced its 2025 profit distribution plan and special dividend plan, proposing a cash dividend of 2 yuan (including tax) per 10 shares for the year; the special dividend plans to distribute 1 yuan per 10 shares, both without bonus shares or capital reserve transfers. The total cash dividends for the year amount to 608 million yuan, combined with 101 million yuan in cash dividends paid in the first three quarters of 2025, making the total annual cash dividend 52.05% of the net profit attributable to shareholders.

Furthermore, *ST Songfa, *ST Rendo, Hengdian Film, Bolivian, and *ST Tianwei turned profitable in 2025.

Bolivian achieved revenue of 2.735 billion yuan in 2025, up 48.33%; net profit attributable to shareholders was 55.89 million yuan, turning from loss to profit. The revenue increase was mainly due to rapid growth in domestic two-wheel vehicle battery swapping, shared mobility, and the impact of new national standards. The company supplied large quantities to leading clients in the two-wheel battery swapping sector. Meanwhile, the European electric assist bike market gradually recovered, demand warmed up, and together these factors boosted the company’s lithium battery shipments for two-wheel vehicles year-on-year.