A-shares concluded trading for April. During the month, the Shanghai Composite Index rose by a cumulative 5.66%, the Shenzhen Component Index increased by 12.09%, and the ChiNext Index advanced by 15.45%. A total of 3,553 stocks recorded gains for the month, while 369 stocks fell by more than 10%.

Pingo Tech Soars 135% Six Stocks More Than Double Year-to-Date Excluding stocks listed within the year, the top 20 gainers for the month all rose by more than 88%. Eight of these were from the electronics sector, four from the electronic equipment industry, and three from the computer industry.

Among the top 20 performers, 12 stocks surged over 100%. Specifically, Pingo Tech, Uni-trend Technology, Litong Electronics, Boyun New Materials, and Jiuzhou Yigui all posted gains exceeding 120% in April. Five of these top performers recorded multiple daily limit-up gains during the month: Woguang Photoelectric (8 limit-ups), Boyun New Materials (7 limit-ups), Litong Electronics (6 limit-ups),华盛昌 (5 limit-ups), and宝丽迪 (3 limit-ups).

The best performer, Pingo Tech, saw its share price increase by 135.52% in April. For the first quarter of 2026, Pingo Tech reported core operating revenue of 63.77 million yuan and a net loss attributable to shareholders of 15.33 million yuan, representing a slight narrowing of losses. In 2025, the company's operating revenue was approximately 475 million yuan, a decrease of 8.75% year-over-year, with a net loss attributable to shareholders of about 52.52 million yuan. Cloud computing revenue accounted for approximately 374 million yuan, or 78.99%, of total core operating revenue in 2025.

Most of the top 20 performers in April reached new all-time highs during the month. Several hit new highs on April 30th, including Pingo Tech, Litong Electronics, Jiuzhou Yigui, Tongguan Copper Foil, Xunjiexing, Defu Technology,盛科通信-U, Zhongchuan Special Gas, and Jiechuang Intelligent.

Six top performers have seen their share prices rise by over 200% year-to-date: Litong Electronics (442%), Hongjing Technology (378%),华盛昌 (279%), Huate Gas (228%), Jiuzhou Yigui (209%), and Uni-trend Technology (205%).

Several top performers reported first-quarter 2026 net profit growth exceeding 700%.

Boyun New Materials saw its share price rise over 124% for the month. The company reported Q1 total operating revenue of 380 million yuan, up 125.94% year-over-year, and net profit attributable to shareholders of 132 million yuan, a surge of 13,362.43%. This single-quarter profit exceeded the full-year 2025 level. The profit growth was primarily attributed to increased revenue and improved gross margin at its subsidiary, Boyun Oriental. Boyun New Materials stated that if prices of key raw materials for hard alloys remain relatively stable, the current high gross margin level for hard alloy products cannot be sustained long-term based on Boyun Oriental's existing inventory and average monthly sales volume.

Tongguan Copper Foil's share price increased by 109% in April. The company reported Q1 operating revenue of 1.842 billion yuan, up 32.04% year-over-year, and net profit attributable to shareholders of 106 million yuan, a significant increase of 2,138.17%. The increase was due to rising selling prices for copper foil products during the reporting period.

Tianhua New Energy's share price rose 89% for the month. The company achieved Q1 operating revenue of 3.200 billion yuan, an increase of 89.62% compared to the same period last year, and net profit attributable to shareholders of 969 million yuan, a substantial rise of 1,471.98%. The performance improvement was mainly attributed to increased volume and price for lithium battery products, driving sales growth.

Litong Electronics saw its share price rise 124.8% in April and 442% year-to-date. The company reported Q1 operating revenue of 997 million yuan, up 41.61% year-over-year, and a net profit of 271 million yuan, an increase of 821.08%. The significant growth was primarily due to increased computing power business.

Defu Technology's share price increased by 93% for the month. The company reported Q1 operating revenue of 4.338 billion yuan, up 73.47% year-over-year; net profit attributable to shareholders of 147 million yuan, up 708.90%; and adjusted net profit attributable to shareholders of 149 million yuan, surging 2,424.40%. The increase was driven by a significant year-over-year rise in copper foil sales volume during the reporting period.

Worst Performer Falls Over 68% Excluding stocks listed within the year, the 20 worst performers all declined by more than 33%. Five were from the computer industry, with three each from the machinery/equipment and construction/decoration sectors.

Seventeen of the 20 worst performers were ST stocks. Among them, *ST Guandian, *ST Yunchuang, *ST Chuangxing, and *ST Zhongyan all fell more than 46% in April.

The worst performer, *ST Guandian, dropped 68.79% for the month. In 2025, *ST Guandian reported operating revenue of 123 million yuan, up 37.21% year-over-year; a net loss attributable to shareholders of 217 million yuan, down 59.62%; and an adjusted net loss attributable to shareholders of 210 million yuan, down 88.61%. For Q1 2026, the company reported revenue of 36.16 million yuan, up 174.69% year-over-year, and a net loss attributable to shareholders of 20.654 million yuan, compared to a loss of 16.5308 million yuan in the same period last year, indicating an expanded loss.

Excluding ST stocks, the remaining three worst performers all fell over 33% for the month: Zhuoran Shares (-39.55%),京基智农 (-37.70%), and福成股份 (-33.97%).

As of the evening of April 30th, among the 20 worst performers, Zhuoran Shares, ST Cuihua, and *ST Hengjiu had not yet released their 2025 annual reports.

Zhuoran Shares announced on the evening of April 28th that, due to unanimous opposition from the three independent directors on the audit committee, the annual report could not be submitted to the company's board for further review. The company expected it would be unable to disclose the 2025 annual report and the 2026 first-quarter report on schedule.

ST Cuihua announced on the evening of April 28th that, as some information related to the periodic reports required further supplementation, the company could not disclose the 2025 annual report and 2026 first-quarter report on the originally scheduled date of April 29th, and might also be unable to disclose them within the statutory deadline of April 30th.

On April 30th, *ST Hengjiu received a 'concern letter' from the Shenzhen Stock Exchange for failing to disclose its 2025 annual report on time and because its auditing firm issued a 'disclaimer of opinion' on both its annual financial statements and the effectiveness of its internal controls.