Sou Hu Cai Jing·2026-02-05 09:36Core Insights - Nearly 50% of A-share listed companies are expected to report losses for the 2025 fiscal year, with a total of 1,442 companies forecasting losses [6][4] Provincial Distribution - Hainan, Jilin, and Qinghai have the highest proportions of companies forecasting losses, each exceeding 40% [8] - Guangdong has the highest number of loss-forecasting companies at 257, followed by Beijing (172), Jiangsu (160), Zhejiang (133), and Shanghai (119) [7] - Other provinces with significant loss forecasts include Shandong, Hubei, Sichuan, Hunan, Anhui, and Fujian, each with over 40 companies forecasting losses [8] Industry Analysis - The real estate sector is the most affected, with Vanke A (000002.SZ) identified as the "loss king," expecting a net loss of approximately 82 billion yuan [12] - IT services and software development sectors have the highest number of loss-forecasting companies, totaling 60, followed by real estate with 54 and semiconductors with 50 [11] - Other industries with notable losses include chemical pharmaceuticals, general equipment, and specialized equipment, each with 40 to 50 companies forecasting losses [11] Financial Impact - The top 10 companies with the highest expected losses include five from the real estate sector, highlighting the significant financial strain within this industry [12] - The home appliance sector's "loss king," Shenkangjia A (000016.SZ), anticipates a loss between 12.58 billion and 15.57 billion yuan, attributed to increased impairment provisions and declining revenue from consumer electronics [12]