Xin Lang Cai Jing·2026-01-05 09:37Overall Market Performance - In 2025, the A-share market saw a significant increase, with the Shanghai Composite Index rising from 3351.76 points at the beginning of the year to 3968.84 points by year-end, reflecting an 18.4% year-on-year growth [4][18] - The total number of A-share listed companies reached 5469 by the end of 2025, with a total market capitalization of 123 trillion yuan, marking a 22.5% increase for existing companies compared to the previous year [4][18] - The average price-to-book ratio of A-share companies increased from 3.3 at the beginning of the year to 4.4 by year-end, indicating a steady rise in market valuation [4][18] Industry Performance - Technology-driven industries, particularly high-tech manufacturing and scientific research, experienced substantial market capitalization growth, with total market values increasing by 33.3% and 32.1% respectively [5][18] - Nearly half of the listed companies in manufacturing and scientific research sectors reported a return on equity (ROE) greater than 5%, providing a solid foundation for valuation support [5][18] - Private technology companies showed remarkable performance, with an overall market capitalization growth of 37.0%, increasing their share of the A-share market from 33.6% to 37.5% [5][18] Company-Specific Performance - The top 150 companies by absolute market capitalization growth included major players such as Agricultural Bank of China, Industrial Fulian, and Contemporary Amperex Technology, indicating strong performance across various sectors [20] - The financial sector, represented by companies like Agricultural Bank and Industrial Bank, played a significant role in the overall market growth, reflecting investor confidence in the banking industry [21] - Companies in the manufacturing sector, such as Industrial Fulian and Contemporary Amperex Technology, demonstrated significant market value increases, highlighting the sector's contribution to the overall market performance [21]