Securities firms' new year research covers 440 A-share companies as heat rises in power equipment and chemical sectors

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Securities Times Reporter Xu Ying

Recently, trading activity in the capital markets has been lively, with brokerages continuously researching A-share companies to uncover new opportunities.

Data shows that this year, brokerages have researched a total of 440 A-share companies, with the electronics and machinery equipment sectors being the most active. Power equipment and chemical sectors have also seen a surge in interest. Meanwhile, over 1,000 A-share listed companies have recently released 2025 earnings forecasts or earnings reports, and brokerages have adjusted ratings for many individual stocks.

Regarding the future market, multiple brokerage asset management institutions told Securities Times reporters that there are still many structural opportunities in the stock market this year, focusing on technology growth and resource commodities.

Brokerages Have Researched 440 Companies

According to Eastmoney Choice data, since 2026, brokerages have researched 440 A-share companies. In terms of industry distribution, electronics and machinery equipment remain the most researched sectors, each with over 60 companies. The pharmaceutical, biological, computer, power equipment, basic chemicals, and automotive sectors each have more than 30 companies being researched.

Recently, State Grid Corporation announced that fixed asset investment during the 14th Five-Year Plan period is expected to reach 4 trillion yuan, a 40% increase compared to the 13th Five-Year Plan period. The power equipment sector has also become one of the hottest areas for brokerage research, covering wind power, photovoltaics, grid equipment, batteries, and other segments. Dajin Heavy Industry and Dike Co., Ltd. have been researched by 47 and 35 brokerages respectively. Additionally, stocks like Haopeng Technology, Zhenjiang Co., Ltd., Trina Solar, Deli Jia, and Siyuan Electric have been researched by more than 10 brokerages each.

The chemical sector has seen a surge in research interest recently, with Runfeng Shares and Wote Shares both being studied by over 20 brokerages recently. Other popular chemical stocks researched by at least 10 brokerages this year include Aladdin, Xingfa Group, Taihe New Materials, Prite, and others.

Benefiting from sustained hot topics like AI and robotics, the electronics and machinery equipment sectors remain the most researched by brokerages in terms of the number of listed companies. Within electronics, semiconductors and optoelectronics are particularly popular, with companies like Kaisen Technology, Baiwei Storage, Xidi Micro, Aisen Shares, and Hengkun New Materials each being researched by over 10 brokerages. In machinery, sectors like industrial automation and controlled nuclear fusion are highly favored, with companies such as Nopu Mining Machinery, CIMC Group, CIMC Environmental Technology, and Jinwo Shares attracting significant attention.

Based on the number of brokerages researching, Dajin Heavy Industry, Dike Co., Ltd., Nopu Mining Machinery, Nengke Technology, Runfeng Shares, and 37 Interactive Entertainment (rights protection) have recently been highly popular, each being studied by more than 25 brokerages.

Multiple Stocks Upgraded in Ratings

As of the time of this report on January 25, over 1,000 A-share companies have disclosed their 2025 earnings forecasts or reports. As financial data is gradually released, brokerages have also adjusted their latest ratings and target prices for individual stocks.

Choice data from Eastmoney shows that since January 20, many stocks have had their ratings upgraded due to strong performance or reduced losses.

For example, Buwei Storage’s earnings forecast indicates that the company is expected to achieve a net profit attributable to shareholders of 850 million to 1 billion yuan in 2025, a year-on-year increase of 427% to 520%. Huaxin Securities recently upgraded Buwei Storage to a “Buy” rating.

Jianghuai Automobile’s earnings forecast shows an expected net profit attributable to shareholders of around -1.68 billion yuan in 2025, a reduction of about 104 million yuan in losses compared to the same period last year. Guohai Securities recently upgraded Jianghuai Auto to a “Buy” rating, citing significant improvement in Q4 last year.

Guohai Securities also upgraded Seres to a “Buy” rating. They noted that benefiting from the delivery volume increase of the new Wey vehicles, Seres is expected to sell 430,000 units in 2025, a 10.5% year-on-year increase, and the company plans to launch a new SUV, M6, in 2026.

Additionally, Lin Tai New Materials listed on the Beijing Stock Exchange was recently upgraded to a “Buy” rating by Huayuan Securities. The firm believes Lin Tai New Materials, a supplier of friction material solutions based on breakthrough technology, has successfully transitioned from an “auto parts supplier” to a “platform-based materials company.”

Institutions Focus on Tech Growth and Resource Opportunities

Recently, several brokerage asset management firms told Securities Times that there are still many structural opportunities in the stock market this year, especially in technology growth and resource commodities.

A relevant person from Guoxin Asset Management said that the fundamentals are expected to continue improving in 2026, and market risk appetite is rising. “Currently, stock market valuations have recovered to relatively high levels, with many positive factors already priced in. The phase of simply expanding valuations is over, and the market is shifting toward performance-driven growth, with good structural allocation opportunities overall.”

First Venture Capital Asset Management told Securities Times that looking ahead to 2026, focus on sectors benefiting from policy dividends and industry prosperity: first, the tech growth track, especially the cyclical and advanced manufacturing directions within the AI industry chain, such as non-ferrous metals, lithium batteries (especially energy storage systems and battery materials), and chemicals, which benefit from domestic industrial upgrades and global energy transition demands; second, frontier themes like commercial space and nuclear fusion, which are emerging fields supported by national strategies, with technological breakthroughs approaching and long-term growth potential.

“By 2026, the China-U.S. strategic competition will enter a ‘plateau’ phase, with overall tariffs remaining stable. Domestically, it is the start of the 14th Five-Year Plan, with strengthened counter-cyclical regulation. 2026 may see a comprehensive valuation reassessment of Chinese assets. For A-shares, economic bottoming and recovery could catalyze a second upward phase. Key areas include technological innovation, resource re-pricing, and the valuation rebound of excellent companies, as well as companies going overseas,” said a relevant person from Caitong Asset Management.

Guangzheng Asset Management’s relevant person believes, “The stock market in 2026 is expected to show a structural pattern, transitioning from a phase of rapid valuation increase to a moderate upward trend supported by fundamentals. During this process, the logic of tech growth and upstream resource price increases is expected to intertwine.”