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

Wind data shows that as of 17:00 on March 29, there are 17 A-share listed companies that have released profit forecasts for Q1 2026, with 15 companies expected to be favorable. The favorable expectation ratio is 88.24%.

Specifically, companies including Fuxiang Pharmaceutical, Wanbangde, and Fuliwang are among those expected to have the highest year-on-year increases in Q1 2026 net profit attributable to shareholders of listed companies. Among them, Fuxiang Pharmaceutical expects that the upper limit of its net profit for Q1 2026 will see a year-on-year increase of up to 3250.01%.

Some companies expect net profit to surge

Fuxiang Pharmaceutical expects that in Q1 2026, its net profit attributable to shareholders of listed companies will be RMB 52 million to RMB 75 million, up 2222.67% to 3250.01% year on year.

Regarding the reasons for the growth, Fuxiang Pharmaceutical said in its performance forecast that during the reporting period, driven by the continued improvement in the new energy industry’s outlook, demand in the power battery market grew steadily, and demand in the energy storage battery market surged quickly, leading to sustained increases in demand for upstream lithium battery materials. The company’s lithium battery electrolyte additive business has been operating well; key products such as VC and FEC have seen both volume and price rise, thereby driving a large year-on-year increase in the company’s performance.

Wanbangde expects that in Q1 2026, its net profit attributable to shareholders of listed companies will be RMB 165 million, up 985.4% year on 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 results. During the reporting period, business expansion achieved 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 Q1 2026, operating revenue will be RMB 500 million to RMB 600 million, up 47.72% to 77.26% year on year; and net profit attributable to shareholders of listed companies will be RMB 40 million to RMB 50 million, up 183.84% to 254.81% year on year. The company said its main reason for the increase in performance is growth in revenue from its 3C consumer electronics business, which boosts net profit. At the same time, with improved operating efficiency and continued capacity release, its subsidiary Nantong Fuliwang has now reached break-even, and its operating conditions have been gradually improving.

Some listed companies saw their performance grow significantly, benefiting from product price increases.

Tianshan Aluminum expects that in Q1 2026, net profit attributable to shareholders of listed companies will be RMB 2.2 billion, up 107.92% year on year. The main reasons for the company’s performance growth are: part of the 1.4 million-ton electrolytic aluminum green low-carbon efficiency improvement project has entered production, and the output and sales volume of electrolytic aluminum increased year on year by about 10%; meanwhile, the selling price of electrolytic aluminum products increased year on year by about 17%, and production costs have been effectively controlled.

Overall improvement in sectors such as pharmaceuticals and semiconductors

From the industry perspective, listed companies in sectors such as pharmaceuticals manufacturing and semiconductors have shown clear growth in performance.

Among pharmaceutical manufacturing listed companies, Wanbangde, Fuxiang Pharmaceutical, and Aelis are expected to have favorable Q1 2026 performance as well as long-term development prospects.

Aelis expects that in Q1 2026, its net profit attributable to the parent company will be RMB 590 million, up 43.73% year on year. It said that benefiting from the support and coverage of national medical insurance policies, revenues from commercially marketed products and revenues from promotional services have continued to grow, driving operating performance to keep rising.

Fuxiang Pharmaceutical said that the company reasonably arranges production schedules for its VC products based on its annual operating plan and downstream customers’ order demand, and continues to provide stable support for customer demand. Currently, the company has VC product capacity of 8,000 tons per year. It plans to increase VC product capacity to 10,000 tons per year through measures such as technological upgrades and improvements. The company expects the renovation will be completed in Q2 2026, and the progress of specific project construction will be advanced steadily based on actual conditions. Based on recent market conditions, VC product prices have remained generally stable. Product prices are comprehensively affected by multiple factors, including raw material costs, market supply and demand relationships, and industry inventory levels, and therefore are subject to uncertainty. As things stand, downstream demand remains on the rise. The company takes a cautiously optimistic view of the market outlook for the second quarter, and will continue to control costs through lean management to enhance product competitiveness.

Among semiconductor listed companies, companies such as Dinglong Shares, Higwei Information, and Aulade are expected to have favorable performance in Q1 2026.

Higwei Information expects that in Q1 2026, 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 on year. It said that during the reporting period, the company continued to increase R&D investment, continuously optimized product performance, enhanced product iteration speed, and promoted the expansion of its market footprint for high-end processor products. As a result, it achieved a significant increase in operating revenue and sustained growth in overall performance.