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 announced its 2025 annual report yesterday evening (March 9), with revenue of 423.702 billion yuan, a year-on-year increase of 17.04%; net profit attributable to shareholders of the parent company was 72.201 billion yuan, up 42.28% year-on-year. The company’s 2025 performance shows steady growth, earning about 1.98 billion yuan daily, with both revenue and net profit reaching record highs.

The company stated that the main driver of performance growth is the sustained industry expansion. In the power battery sector, global new energy vehicle sales growth has driven continuous 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 1187 GWh, up 31.7%.

In energy storage batteries, driven by countries’ clean energy transition goals and emerging demand, the energy storage battery market continues to grow rapidly. According to SNE Research, global energy storage battery shipments in 2025 totaled 550 GWh, a 79% increase.

CATL also announced a distribution plan, proposing a cash dividend of 69.57 yuan (tax included) per 10 shares, with no capital reserve transfer or bonus shares. In 2025, the total cash dividends and share repurchases amount 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 133.896 billion yuan in 2025, up 10.38% year-on-year; net profit attributable to shareholders was 5.618 billion yuan, down 33.32%. Bank of America Securities noted that ZTE’s government and enterprise business revenue doubled year-on-year, 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 results from increased investment in AI and related fields, promoting product integration with large model technologies, optimizing core product competitiveness and user experience, leading to rapid growth across various business areas; 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 over 30% year-on-year. Tinci Materials, Wuhua Medicine, Dajin Heavy Industry, and Zhinan Zheng have doubled their net profits, with Tinci Materials showing the highest increase at 181.43%.

Electrolyte leader Tinci Materials released its 2025 annual report on the evening of March 9, with 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, net profit attributable to shareholders reached 941 million yuan, nearly 70% of the annual total.

This outstanding performance is mainly due to the sharp rise in lithium hexafluorophosphate prices. Data shows that in July 2025, the price of lithium hexafluorophosphate was about 49,300 yuan/ton, and by the end of 2025, it 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 (tax included) per 10 shares for the year; the special dividend plans to distribute 1 yuan per 10 shares, both without bonus shares or capital reserve transfer. 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, representing 52.05% of the net profit attributable to shareholders for the year.

Furthermore, *ST Songfa, *ST Rendong, Hengdian Film, Bolivian, and *ST Tianwei turned losses into profits 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 profitable from a loss. The revenue increase was mainly driven by rapid growth in domestic electric two-wheelers, shared mobility, and the impact of new national standards. The company supplied large quantities to leading operators in the two-wheel electric vehicle sector. Meanwhile, the European electric assist bike market gradually recovered, demand warmed, jointly boosting the shipment of lithium batteries for two-wheelers.