China's A-share Q3 reports pick up pace as brokers rate results
In short
Third-quarter reporting by A-share companies is speeding up. CLS said that by the close on October 21, 150 listed companies had reported, 98 of them with higher net profit for the first three quarters than a year earlier. Another report said more than 210 had reported by the time of writing, with Yutong Bus drawing the most broker research attention.
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Third-quarter reporting by listed companies in China's A-share market is entering an accelerated phase, CLS (财联社) reported on October 22. Wind data showed that 150 listed companies had published third-quarter reports by the close on October 21, and 98 of them reported a year-on-year rise in net profit for the first three quarters. [ 1 ]
CLS said reports from industry leaders including CATL, Fuyao Glass, Haiguang Xinxi (海光信息), Hikvision, Zangge Kuangye (藏格矿业) and China Jushi (中国巨石) were drawing market attention. It said some companies with strong results, such as Dian'an Zhenduan (迪安诊断), saw clear share price gains after publishing. Institutional people interviewed said the shift of AI computing from a spending story to a profit delivery period is one of the main themes of this round of reports. They said PCB and semiconductor testing were also surging, with order visibility extending into the fourth quarter, and suggested watching directions such as AI computing where results are easier to verify. [ 1 ]
A separate report, published by Jiemian (界面新闻) and 36Kr (36氪), said more than 210 A-share companies had published third-quarter reports by the time it was written on October 21, and that brokers had issued fresh comments on individual stocks. In the ranking of broker research attention, Yutong Bus (宇通客车) was first, followed by Weixing Huaxue (卫星化学) and Jinpan Keji (金盘科技). Soochow Securities (东吴证券) set a target price of 431 yuan for CATL, which the report said implied considerable room for the share price to rise from its current level. [ 2 , 3 ]
On the outlook, several institutions expect a recovery-type A-share market to unfold gradually, and a barbell allocation of technology plus dividend stocks has become a consensus, the report said. Jiemian credited the text to Renmin Caixun (人民财讯), while 36Kr credited it to Securities Times (证券时报) and said the ranking was compiled by Miaoxiang Choice (妙想Choice). The reports give different counts of companies that had reported: 150 as of the October 21 close in the CLS report, and more than 210 at the time of writing in the other reports. [ 1 , 2 , 3 ]
Why it matters
The outlets present the reports as a guide for investors, with institutions pointing to AI computing and to a mix of technology and dividend stocks. The documents give no market-wide figures beyond the early reporting count.
Key facts
- Wind data showed 150 listed companies had published third-quarter reports by the close on October 21. [ 1 ]
- Of those 150 companies, 98 reported a year-on-year rise in net profit for the first three quarters. [ 1 ]
- Another report said more than 210 A-share companies had published third-quarter reports by the time it was written on October 21. [ 2 , 3 ]
- Yutong Bus (宇通客车) ranked first in broker research attention, followed by Weixing Huaxue (卫星化学) and Jinpan Keji (金盘科技). [ 2 , 3 ]
- Soochow Securities (东吴证券) set a target price of 431 yuan for CATL (宁德时代). [ 2 , 3 ]
- Dian'an Zhenduan (迪安诊断) was cited as a company whose share price rose sharply after its report. [ 1 ]
Confirmed by several sources
- Nothing is confirmed by two independent outlets yet.
Still unclear
- How many companies had reported by October 21. CLS gave 150 as of the October 21 close; the other two reports gave more than 210 as of the time of writing on October 21. The documents do not explain the difference.
- Whether the AI computing profit trend extends beyond the sectors named. The view comes from unnamed institutional people quoted by one outlet (CLS), with no figures given.
- More than 210 A-share companies had reported third-quarter results by October 21, and Yutong Bus topped broker research attention, ahead of Weixing Huaxue and Jinpan Keji. Both reports carry the same text, so this rests on one underlying report.
- Soochow Securities gave CATL a target price of 431 yuan. Both reports carry the same text, so this rests on one underlying report.