Weekend negative news! A leading company posted a massive loss of RMB 14.1 billion; another leader’s profit plunged by 2,970%; ten companies reported losses, while thirteen leaders posted growth.

1. Mars People: profit declined by 2,970%, with a loss of RMB 320 million. 2. ASD: profit declined by 1,348%, with a loss of RMB 188 million. 3. BSK: profit declined by 1,022%, with a loss of RMB 95 million. 4. Yitian Intelligent: profit declined by 737%, with a loss of RMB 169 million. 5. Konka Group A: profit declined by 327%, with a loss of RMB 14.077 billion. 6. Auxm: profit declined by 302%, with a loss of RMB 195 million. 7. Shuaifeng Electric Appliances: profit declined by 187%, with a loss of RMB 53 million. 8. Samsung New Materials: profit declined by 116%, with a loss of RMB 141 million. 9. Zhejiang Meida: profit declined by 89%, with a profit of RMB 13 million. 10. Tianyin Electronics: profit declined by 80%, with a profit of RMB 18 million. 11. OGAWA: profit declined by 80%, with a profit of RMB 13 million. 12. Honghai Technology: profit declined by 77%, with a profit of RMB 15 million. 13. Bei Yikang: profit declined by 74%, with a profit of RMB 7 million. 14. Vanward Electric: profit declined by 74%, with a profit of RMB 173 million. 15. Zhenbang Intelligent: profit declined by 64%, with a profit of RMB 73 million. 16. Dechang Shares: profit declined by 56%, with a profit of RMB 180 million. 17. Hongchang Technology: profit declined by 55%, with a profit of RMB 24 million. 18. Hefei High-Tech: profit declined by 49%, with a profit of RMB 39 million. 19. Jiulian Technology: profit declined by 47%, with a loss of RMB 208 million. List of home appliance stocks with substantial profit growth in 2025: 1. Shibai Bai: profit surged by 1,597%, with a profit of RMB 55 million. 2. Whirlpool: profit rose by 150%, with a profit of RMB 505 million. 3. Kangsheng Co., Ltd.: profit increased by 122%, with a profit of RMB 22 million. 4. Ecovacs: profit grew by 117%, with a profit of RMB 1.75 billion. 5. ST Delong: profit rose by 114%, with a profit of RMB 28 million. 6. Haili Co., Ltd.: profit increased by 111%, with a profit of RMB 72 million. 7. H&T: profit rose by 88%, with a profit of RMB 683 million. 8. Rongjie Health: profit increased by 74%, with a profit of RMB 82 million. 9. Hesheng New Materials: profit rose by 65%, with a profit of RMB 162 million. 10. Beiding Co., Ltd.: profit increased by 59%, with a profit of RMB 111 million. 11. *ST Gaus: profit rose by 41%, with a loss of RMB 77 million. 12. Sanhua Intelligent Control: profit grew by 38%, with a profit of RMB 4.261 billion. 13. Nante Technology: profit increased by 13%, with a profit of RMB 111 million. Mars People reported a loss of RMB 270–370 million in 2025. Mars People’s significant 2025 losses stemmed from a confluence of factors: weak overall demand in the kitchen appliance industry, internal channel and product-structure issues, and mounting cost pressures. On one hand, the post-real-estate-cycle slowdown—evidenced by declining new-home deliveries—and saturation in the existing market have dampened terminal demand for integrated stoves and other categories, intensifying price wars and shrinking the company’s revenue base. On the other hand, overreliance on offline distributor channels, coupled with lagging adaptation to fragmented e-commerce traffic and emerging sales channels, has eroded channel efficiency. Meanwhile, high advertising and promotional expenses further squeezed margins. Simultaneously, volatile upstream raw material prices and underutilized production capacity drove up per-unit manufacturing costs, while slow product iteration and severe homogenization deprived the company of pricing power and profit elasticity—culminating in a year-on-year net profit plunge exceeding 2,969% and a RMB 320 million loss.

As listed companies release their first-quarter reports, what investment opportunities have emerged?

[Improving Market Sentiment] At the time of writing this article (April 1 evening), U.S. equities had just opened—major indices opened lower but are likely to rebound significantly from current levels. A-share market turnover is gradually declining, yet scattered hotspots are beginning to emerge and individual stocks are diverging. Overall, investor sentiment is growing calmer—some even adopt calmness by deleting trading apps. A friend of mine did exactly that recently. As of April 1, portfolio returns remain under update, but appear to reflect only a modest drawdown—overall stability remains intact. [Heavy Losses] Over the past few days, an increasing number of listed companies have released their Q1 financial reports. Broadly speaking, results largely align with expectations. Among the more than 200 firms that have reported so far, nearly half forecast reduced profits—and some report losses for the first time. Catering and entertainment enterprises have been hit especially hard. For instance, Songcheng Performance, whose venues remained closed throughout the Spring Festival holiday, or Haidilao and cinemas—essentially generating zero revenue over the past two months. These companies all cite the impact of the novel coronavirus in their reports. That is simply the prevailing macro-environment. [Standout Performers] Not all companies experienced declines—high-tech firms, in contrast, stand out. Semiconductor companies, for example, fared relatively well in Q1, as their production relies on automated assembly lines and R&D does not depend on large-scale manpower. Such non-labor-intensive enterprises suffered minimal disruption to normal scientific research and production—highlighting a key structural advantage. However, I wish to emphasize: rapid corporate growth and accelerating profitability do not necessarily translate into swift profit generation. Overall, semiconductor firms’ profitability remains modest; they have yet to secure leadership in core, cutting-edge technologies and still operate largely in ‘follower’ mode. Their current profit base remains small. For example, a firm previously earning RMB 100,000 may now earn RMB 200,000—a seemingly doubled profit—but its actual R&D and operational expenditures could total RMB 200 million.

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