A Single Table Reveals the Annual Reports of 3,287 Listed Companies

I previously wrote several Ruby scripts to fetch annual and quarterly report data for listed companies from NetEase Finance’s API and Tencent Securities’ API—and automatically downloaded all the reports (a bundled file of these reports is provided as a bonus at the end of this article). After downloading, the files look like this: Opening any individual report yields the following: As seen above, NetEase Finance’s data interface stores *all* annual and quarterly reports for every listed company since its IPO—a powerful tool for analyzing corporate operational performance. For a long-established company, falsifying figures for a single year is possible, but sustaining such deception over three or five consecutive years is extremely difficult; thus, longitudinal comparisons of these data become highly meaningful. I wrote a Ruby program to extract a subset of metrics I found particularly interesting from these quarterly and annual reports—and consolidated them into a single Excel spreadsheet. The result looks like this: The metrics I tracked include: Stock Code, Stock Name, Analyst Rating, Industry Sector, Region, Concept, Report Date, Total Market Cap, P/E Ratio, P/B Ratio, Quarterly Total Profit, Annual Total Profit, Year-on-Year Total Profit (Same Period Last Year), YoY Profit Growth, Profit Growth vs. One-Quarter-of-Annual-Report, Quarterly Net Profit, Quarterly Investment Income, Quarterly Net Income from Other Operations, Non-Core Revenue as % of Net Profit, Net Profit (2014), Net Profit (2015), Net Profit (2016), YoY Net Profit Growth (2015), YoY Net Profit Growth (2016), Three-Year Consecutive Positive Net Profit & 2016 Growth > 2015 Growth, Current Assets, Inventory, Cash & Cash Equivalents, Current Liabilities, Total Assets, Total Liabilities, Current Ratio, Quick Ratio, Cash Ratio, Debt-to-Asset Ratio, Selling Expenses, Administrative Expenses, Financial Expenses, Net Profit Margin on Core Business, Gross Profit Margin on Core Business, Return on Equity (ROE), Net Operating Cash Flow, Inventory / Net Profit, Profitability, Solvency, Operational Efficiency, Earnings Forecast, Earnings Growth, Valuation, Trading Financial Assets, Core Business Revenue, Investment Income, Core Business Cost. Several metrics currently lack finalized formulas—mainly due to challenges in determining appropriate weighting or normalization methods (e.g., Profitability, Solvency, Operational Efficiency, Earnings Forecast, Earnings Growth, Valuation). Unlike mainstream stock-trading apps or financial websites, I’ve explicitly separated out indicators I personally deem critical—for instance: ratio of non-core revenue to net profit, ratio of inventory to net profit, and ratio of the sum of three key receivables (accounts receivable, notes receivable, other receivables) to net profit. I’m also keenly interested in the ratio of bad debt provision to accounts receivable—but unfortunately, current reporting formats no longer list bad debt provision separately. In my view, this omission is problematic, as over 80% of enterprises manipulate earnings via adjustments to bad debt provisions. First, I filtered for companies whose annual net profits were positive for all three years—2014, 2015, and 2016—suggesting relatively stable profitability. This yielded 1,249 companies—over one-third of the total. This suggests A-share companies are not as dire as some conspiracy theories claim: for a former ‘Big Table Brother’ (i.e., a large-cap company), faking profits for three consecutive years is comparatively unlikely. Of course, I’m well aware that numerous techniques exist to fabricate an illusion of sustained profitability—so I added another filter: 2015 net profit must exceed 2014 net profit. Instantly, the count halved—to just 564 companies.

Q2 2026 Earnings Season Is Here! Decode Core Financial Information in These Reports to Uncover High-Quality Investment Opportunities!

Every three months, Wall Street enters a state of mingled anticipation and tension. Major corporations sequentially release their quarterly earnings—and stock prices can swing dramatically overnight. Financial media flood the airwaves; analysts rush to interpret results; and markets rapidly form conclusions around buzzwords like ‘beat expectations,’ ‘downgraded guidance,’ and ‘bad news already priced in’—all amid volatile price action. For investors holding U.S. equities, understanding earnings reports enables clear, objective interpretation of what the numbers truly signify. Regardless of how noisy market sentiment becomes—or how divergent analyst opinions grow—you’ll still be able to make better-informed decisions amid volatility. With the Q2 2026 earnings season now underway, industry leaders across technology, consumer goods, finance, and other sectors will soon disclose their results. This edition of MSX breaks down the core framework of U.S. earnings reports: what each of the three primary financial statements measures, which metrics truly matter—and why ‘good earnings reports sometimes trigger stock declines.’ Disclaimer: The content below is for educational and informational purposes only, and does not constitute any investment advice! Income Statement: Is the Company Profitable? The income statement answers the most fundamental question: Did the company generate profit during this period? It records operating results over a defined timeframe—either a single quarter or full fiscal year—starting from revenue and deducting successive layers of costs to arrive at net income. This is where we begin reading a financial report: 1. Revenue The top line—and foundational metric—of the income statement. It reflects the scale of the company’s operations and its ability to expand in the market. Sustained revenue growth signals strong demand and expanding market share; conversely, declining revenue—even if net profit appears robust—means the business is shrinking at its core. 2. Gross Margin Represents the proportion of revenue remaining after direct production costs are deducted. It directly gauges product competitiveness and pricing power. Higher gross margins typically indicate stronger economic moats. Software firms commonly post gross margins above 70%, whereas traditional retailers and manufacturers often hover near 20%. Note: This metric is only meaningfully interpreted through peer-group comparisons. 3. Operating Income Reflects profitability from core operations *after* deducting salaries, R&D, marketing, and other operating expenses—excluding distortions from financing structure or tax policy. 4. Net Income The final amount attributable to shareholders—and the figure most closely watched by markets. Earnings Per Share (EPS) distributes net income across outstanding shares, serving as the central benchmark against which Wall Street analysts’ forecasts and actual results are compared. Note: Starting from revenue (in blue), red bars represent successive cost deductions at each layer, while green indicates the final net income. Understanding Non-GAAP Earnings: U.S. earnings reports typically disclose *two* profit figures: GAAP and Non-GAAP. GAAP (Generally Accepted Accounting Principles) earnings are standardized, mandatory disclosures reflecting *all* costs—including stock-based compensation, acquisition-related amortization, and restructuring charges. Non-GAAP earnings are management-adjusted versions, excluding certain items—often resulting in more favorable-looking numbers.

Minerals Technologies 3Q 2026: Revenue $554.9M, Net Income $43.8M, EPS $1.37 — 10-Q Summary

2 days ago

Minerals Technologies reported Q3 2026 revenue of $554.9 million, up 4.2% year-over-year. Nine-month sales grew 6% to $1.65 billion, driven by international markets and Engineered Solutions.

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2026-01-29

Minerals Technology misses on weaker specialties, engineered solutions profit

2026-04-08

Minerals Technologies Receives Zacks Rank #2 Upgrade Amid Earnings Forecast Revisions

2026-04-09

Minerals Technologies Senior Vice President Jonathan Hastings to Step Down

2026-04-18

Minerals Technologies Downgraded by Wall Street Zen to Buy

2026-04-30

Minerals Technologies earnings up next: Can Asia drive growth?