创业板Q3业绩增速领跑A股 人工智能赛道催业绩“加速度”

Core Insights - The ChiNext companies demonstrated resilience in the third quarter of 2025, achieving significant revenue and profit growth, reinforcing their role as a driving force in the new economy [1] Group 1: Financial Performance - In the first three quarters of 2025, 1,388 ChiNext companies reported a total revenue of 3.25 trillion yuan, a year-on-year increase of 10.69%, and a net profit of 244.66 billion yuan, up 18.69% [1] - In Q3 2025, ChiNext companies generated 1.18 trillion yuan in revenue, a quarter-on-quarter increase of 7.13%, and a net profit of 93.26 billion yuan, reflecting a significant quarter-on-quarter growth of 18.32% [1] - Among the 1,388 companies, 1,034 were profitable, representing 74.50%, and 737 companies saw a year-on-year profit increase, accounting for 53.10% [1] Group 2: Structural Highlights - Large-cap companies maintained a strong position, with the top 100 companies achieving 1.54 trillion yuan in revenue, a 17.72% increase, and 170.84 billion yuan in net profit, a 26.78% increase [2] - New companies under the registration system contributed to growth, with 589 newly listed companies reporting 1.08 trillion yuan in revenue, a 12.69% increase, and 55.23 billion yuan in net profit, an 8.80% increase [2] - The average gross margin for ChiNext companies increased by 0.87 percentage points, while the period expense ratio decreased by 0.93 percentage points, indicating improved operational efficiency [2] Group 3: Investment and R&D - Long-term asset investments by ChiNext companies totaled 273.77 billion yuan in the first three quarters of 2025, a year-on-year increase of 9.46% [3] - R&D expenditures reached 147.35 billion yuan, a 6.20% increase, with 271 companies investing more than 10% of their revenue in R&D [3] - In Q3 2025, R&D spending was 51.66 billion yuan, reflecting a quarter-on-quarter increase of 3.60% [3] Group 4: Industry Performance - The electronics and communication sectors experienced significant growth, with the electronics industry reporting a 21.65% year-on-year revenue increase and a 36.29% profit increase [5] - The communication industry saw a 24.82% revenue increase and a remarkable 94.10% profit increase year-on-year [5] - The power equipment sector benefited from growth in energy storage and photovoltaic inverter demand, with a 12.90% revenue increase and a 28.61% profit increase [6] Group 5: Traditional Industry Recovery - Traditional industries showed signs of recovery, with the basic chemical industry net profit increasing by 28.86% and the non-ferrous metals industry by 15.94% [7] - The construction materials sector experienced a staggering 719.94% increase in net profit, driven by major infrastructure project demand [7]