Listed companies on China's mainland markets saw aggregate net income rise approximately 20% year on year in January–June 2026, but one in four reported a net loss, the highest proportion on record, as companies exposed to domestic demand struggled and the divide widened. Semiconductor companies that captured AI demand led the gains, while weakness was pronounced among companies affected by domestic demand. The analysis covers data from approximately 5,400 companies.
Listed companies on China's mainland markets, excluding financial companies, posted a roughly 20% year-on-year increase in aggregate net income in the January–June 2026 period. Semiconductor companies that captured AI demand are said to have driven the increase.
At the same time, the proportion of companies that swung to a net loss reached one in four, the highest level on record. Food, real estate and other companies tied to domestic demand remained under severe pressure, with reports indicating that economic distortions are spreading.
The analysis covers approximately 5,400 companies listed on mainland markets, including those in Shanghai and Shenzhen, for which year-on-year comparisons were possible. It is said to have compiled the situation through the end of August, covering non-financial companies.