---
title: "Shenzhen Stock Exchange Q3 Report: New Productive Forces Gaining Momentum, \"AI+\" Ecosystem in Consumption Taking Shape"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/265086729.md"
description: "In the first three quarters of 2025, listed companies in the Shenzhen Stock Exchange achieved both year-on-year and quarter-on-quarter growth in revenue and net profit, with outstanding performance in industries such as power equipment, telecommunications, and new energy. The power equipment industry generated operating revenue of 1.32 trillion yuan and a net profit of 94.609 billion yuan, representing year-on-year increases of 10% and 29.53%, respectively. Companies like SIEYUAN, TINCI, and DMEGC achieved rapid growth through research and development and technological innovation. New energy companies demonstrated strong competitiveness in the global energy transition, with total revenue in related fields reaching 1.06 trillion yuan"
datetime: "2025-11-10T07:24:13.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/265086729.md)
  - [en](https://longbridge.com/en/news/265086729.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/265086729.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/265086729.md) | [繁體中文](https://longbridge.com/zh-HK/news/265086729.md)


# Shenzhen Stock Exchange Q3 Report: New Productive Forces Gaining Momentum, "AI+" Ecosystem in Consumption Taking Shape

**21st Century Business Herald reporter Yang Ping, intern Chen Hui**

Under the resonance of precise macro policies and gradually warming market demand, listed companies in the Shenzhen market delivered a "steady" performance report for the first three quarters of 2025, achieving year-on-year and quarter-on-quarter growth in both revenue and net profit.

Among them, industries represented by power equipment, communications, and new energy have performed particularly well, becoming a strong engine driving overall performance growth; at the same time, the consumer sector has also entered a recovery phase, with an "AI+"\-centered intelligent ecosystem quietly reshaping the industrial landscape.

Under the guidance of the "dual carbon" goals, the power equipment and new energy industries in the Shenzhen market have both shown excellent performance.

In particular, the power equipment industry in the Shenzhen market has welcomed a highlight moment under the wave of new power system construction. **In the first three quarters, the power equipment industry in the Shenzhen market achieved a total operating revenue of 1.32 trillion yuan, a year-on-year increase of 10%; net profit reached 94.609 billion yuan, a substantial year-on-year growth of 29.53%.** Leading enterprises such as SIEYUAN, TINCI, and DMEGC have achieved rapid growth in performance through high-intensity R&D investment and forward-looking technology reserves.

SIEYUAN's revenue and net profit attributable to the parent company in the first three quarters increased by 32.86% and 46.94% year-on-year, respectively. Its single-quarter net profit growth even reached 48.73%, showing strong growth momentum. The company is actively transforming from a single equipment supplier to a "design + equipment integration + service" system solution provider, and is deeply participating in global energy transformation with "domestic market share increase + breakthroughs in overseas high-end markets" as dual engines.

Global electrolyte leader TINCI has maintained a leading profitability level despite product price fluctuations, supported by cost control and capacity ramp-up. Behind this is the deep R&D foundation of a national high-tech enterprise, with cumulative R&D investment exceeding 2.6 billion yuan in the past three years.

DMEGC has achieved revenue of 17.56 billion yuan and a year-on-year net profit growth of 56.8% through its "magnetic materials + new energy" dual-wheel drive strategy. The company has an industry-leading R&D platform and over 3,000 technical personnel, continuously driving high value-added business growth through technological innovation.

At the same time, in the grand narrative of global energy transition, new energy companies in the Shenzhen market have demonstrated strong global competitiveness. This sector (batteries, photovoltaics, wind power) achieved a total revenue of 1.06 trillion yuan and a net profit of 78.705 billion yuan, a year-on-year increase of 31.87%. All sub-sectors maintained growth, with net profit in the wind power equipment sector increasing by as much as 82.56% year-on-year.

CATL has shown steady growth in revenue and net profit, with cash reserves exceeding 360 billion yuan, providing ample "ammunition" for future R&D and capacity construction. The company is rapidly innovating, with the globally pioneering NP3.0 technology, the Shenxing Pro battery, and the sodium new battery certified by the new national standard successively launched, actively building a battery recycling economy system through industry initiatives As a solution service provider for intelligent manufacturing in the new energy sector, XianDao Intelligent's net profit increased by 94.97% year-on-year. The company not only successfully delivered mass production-level solid-state battery production line solutions but also received repeat orders, proving the leading nature of its technical solutions and market recognition.

Guoxuan High-Tech's performance was impressive, with net profit attributable to shareholders skyrocketing by 514.35% year-on-year. The company has achieved significant technological results, with the new LMFP system L600 battery cell being installed in vehicles, and breakthroughs in the G Yuan standard solid-state battery and "Jinshi" all-solid-state battery experimental lines. Its cooperation with strategic shareholder Volkswagen has entered a substantive phase, with Volkswagen's first pure electric sedan equipped with its batteries now listed in the Ministry of Industry and Information Technology's announcement.

Wind turbine bearing leader Xinqianglian emerged as a "dark horse" in this round of performance growth, with net profit attributable to shareholders surging by 1939.50% year-on-year. With exclusive processes such as non-soft belt induction quenching, the company has established an absolute advantage in the field of wind turbine main shaft bearings and effectively controlled costs through industrial chain integration, currently enjoying ample orders.

With the continuous implementation of AI applications, the telecommunications industry in Shenzhen is also developing rapidly. **In the first three quarters, the industry's revenue and net profit attributable to shareholders increased by 14.34% and 36.65% year-on-year, respectively. Benchmark companies such as Xinyi Sheng, Guangxun Technology, and StarNet Ruijie are breaking technological barriers through independent innovation.**

Xinyi Sheng's performance has shown an "explosive" trend, with revenue and net profit in the first three quarters increasing by 221.70% and 284.37% year-on-year, respectively. The company's second-generation 1.6T OSFP optical module launched at OFC 2025 is equipped with advanced 3nm DSP chips, reducing power consumption by 20%; its 1.6T LRO optical module further reduces power consumption by about 30% by removing the DSP, precisely addressing the energy consumption pain points in high-computing scenarios. At the same time, the company has proactively laid out CPO technology to reserve capacity for the 3.2T era.

Guangxun Technology's profitability continues to strengthen, with revenue increasing by 58.65% year-on-year. The company possesses full-chain capabilities from chips to subsystem products, with R&D investment consistently accounting for over 10% of revenue, having established a global innovation system.

StarNet Ruijie's net profit attributable to shareholders increased by over 31% year-on-year, with performance growth mainly benefiting from the expansion of data center switch business and overseas market development. The company is actively diversifying from single operator clients and vigorously developing strategic products such as FTTR/FTTO to explore new blue oceans in all-optical networking.

It is worth mentioning that **artificial intelligence technology is also continuously empowering the consumer industry.**

In the third quarter of 2025, the consumer industry in Shenzhen demonstrated strong growth resilience, with the net profit attributable to shareholders in the home appliance industry increasing by 9.14% year-on-year. Companies such as Midea Group, TCL Smart Home, and Bear Electric are driving brand value enhancement through technological accumulation and the integration of "AI+".

Midea Group achieved double-digit growth in both revenue and net profit in the first three quarters. Its landmark move was the launch of the home appliance industry's first trillion-level data AI agent—"COLMO AI Butler," capable of autonomous decision-making and coordinated scheduling for all home appliances, marking a key step towards "robotization" in the home appliance industry Its subsidiary KUKA Robotics has also launched five strategic intelligent products, building a full-link intelligent ecosystem.

TCL Smart Home has achieved positive year-on-year growth in net profit attributable to the parent company for 17 consecutive quarters. The company continues to innovate products in the refrigerator and washing machine sectors with proprietary technologies such as deep cold crystalline membrane preservation at -40℃ and fourth-generation molecular preservation.

In the first three quarters, Bear Electric's net profit increased by 36.49% year-on-year, with a remarkable growth of 113.16% in the third quarter. The company focuses on innovative products such as the "Stackable Pot" multifunctional cooking pot and automatic water-feeding wall-breaking machine, relying on over 3,700 national patents to continuously explore segmented demands in the small home appliance market

### Related Stocks

- [TINCI (002709.CN)](https://longbridge.com/en/quote/002709.CN.md)
- [DMEGC (002056.CN)](https://longbridge.com/en/quote/002056.CN.md)
- [SIEYUAN (002028.CN)](https://longbridge.com/en/quote/002028.CN.md)

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