As of August 31st, all 181 A-share listed companies based in Sichuan had released their semi-annual reports for 2026. According to preliminary statistics compiled by Choice data, these companies collectively posted total operating revenue of RMB 574.5 billion for the first half of the year, marking an increase of RMB 52.5 billion compared to the same period last year. Their combined net profit reached RMB 53.8 billion, up RMB 12 billion year-on-year, signaling a notable improvement in overall profitability.

The quality of this earnings season appears solid, with 107 of the 181 firms reporting revenue growth, while 87 saw their net profits attributable to shareholders increase. Profitable companies accounted for nearly 70% of all listed firms. Although leading enterprises contributed the majority of profits, smaller and mid-sized firms also showed broad-based gains across sectors.

On the revenue front, Sichuan Changhong retained its top spot among Sichuan-listed firms with RMB 58.27 billion in revenue, followed by New Hope at RMB 55.59 billion and Sichuan Road & Bridge at RMB 46.85 billion. Dongfang Electric and Tongwei Co took fourth and fifth places, respectively, with the top five companies together accounting for nearly 60% of the total revenue generated by all Sichuan-listed firms.

In terms of profit, leading companies delivered standout performances. Optical communication leader Eoptolink Technology emerged as a surprise contender, ranking second with RMB 7.53 billion in net profit, a 91% jump year-on-year. Bank of Chengdu claimed the third spot with RMB 6.91 billion, while Luzhou Laojiao and Tianqi Lithium ranked fourth and fifth, respectively.

The lithium mining sector was a highlight of this reporting season. Tianqi Lithium saw its first-half revenue surge by 153% year-on-year, with net profit soaring by an extraordinary 4,925%, driven largely by a rebound in lithium product prices and a significant increase in investment income from associates. Yahua Group posted a 795% rise in net profit, while Shengxin Lithium Energy turned profitable, gaining 220%. This strong performance from Sichuan's trio of major lithium producers underscores a sector-wide boom in both volume and pricing.

The baijiu (white liquor) sector, however, continued to face headwinds. Luzhou Laojiao saw both its revenue and net profit decline, as the company deliberately controlled shipments to reduce inventory, putting short-term pressure on its results. Shede Spirits saw its net profit drop by 67%, while Shuijingfang slipped into a loss, reflecting the ongoing deep adjustment in the industry.

The photovoltaic sector also struggled, with Tongwei Co posting a loss exceeding RMB 5.1 billion in the first half, hampered by supply-demand imbalances and persistently low product prices. The aquaculture sector fared no better, with New Hope losing RMB 1.7 billion and Muyuan Foods incurring a loss of over RMB 800 million, largely due to weak hog prices. Additionally, innovative drug developer Bailli Pharma reported a loss of more than RMB 1.6 billion, mainly attributable to increased R&D spending.

The power sector showed stability, with Sichuan Energy Investment Development posting a net profit increase of over 130% and Xichang Electric growing by more than 100%, aided by effective cost controls. In the smart terminal segment, Sichuan Changhong saw its net profit climb by over 220%, while Skyworth Digital boosted its net profit by more than 200%, providing solid support to overall results.

In the growth rankings, Tianqi Lithium led by a wide margin with a 4,925% surge, followed by Tianyuan Group at 1,158%, Yahua Group at 795%, and Hebang Biotechnology at 634%. Other companies such as Shenda Forestry, Houpu Clean Energy, Bright Eye Hospital, Shudao Equipment, and Tianyi Com also recorded net profit increases exceeding 200%, showcasing a broad-based acceleration across various industries.

Top 10 by Revenue (Total Operating Revenue):

1. Sichuan Changhong, RMB 58.27 billion

2. New Hope, RMB 55.59 billion

3. Sichuan Road & Bridge, RMB 46.85 billion

4. Dongfang Electric, RMB 38.62 billion

5. Tongwei Co, RMB 34.36 billion

6. Wuliangye, RMB 28.42 billion

7. Eoptolink Technology, RMB 20.91 billion

8. Bank of Chengdu, RMB 12.78 billion

9. Tianqi Lithium, RMB 12.24 billion

10. Yuntu Holdings, RMB 11.72 billion

Top 10 by Profit (Net Profit Attributable to Shareholders):

1. Wuliangye, RMB 8.75 billion

2. Eoptolink Technology, RMB 7.53 billion

3. Bank of Chengdu, RMB 6.91 billion

4. Luzhou Laojiao, RMB 4.34 billion

5. Tianqi Lithium, RMB 4.24 billion

6. Sichuan Road & Bridge, RMB 3.09 billion

7. Dongfang Electric, RMB 2.71 billion

8. Chuantou Energy, RMB 2.33 billion

9. Sichuan Changhong, RMB 1.65 billion

10. Sinolink Securities, RMB 1.31 billion

Top 10 by Growth (Net Profit Attributable to Shareholders Year-on-Year):

1. Tianqi Lithium, 4,925%

2. Tianyuan Group, 1,158%

3. Yahua Group, 795%

4. Hebang Biotechnology, 634%

5. Shenda Forestry, 536%

6. Houpu Clean Energy, 519%

7. Bright Eye Hospital, 501%

8. Shudao Equipment, 235%

9. Tianyi Com, 232%

10. Sichuan Changhong, 229%