What happened
AI demand has become the central engine of earnings growth for A-share listed companies, according to Wind data. As of 22:50 on Aug. 30, 5,550 companies had released their 2026 semi-annual reports, posting combined revenue of 37.68 trillion yuan, up 7.63% year-on-year, and net profit of 3.58 trillion yuan, up 19.40%.
Leading players across the computing power chain delivered strong results. Chip maker Cambricon saw revenue grow 108.13% to 5.996 billion yuan and net profit jump 122.61% to 2.311 billion yuan. Memory module maker Longsys reported revenue of 24.088 billion yuan, up 136.26%, with net profit soaring to 10.577 billion yuan. Newly listed ChangXin Technology, which made its market debut in July, recorded revenue of 150.31 billion yuan, up 873.64%, and turned around to a net profit of 77.605 billion yuan.
The earnings boom extended across sectors. Electronics companies saw combined net profit surge 195.11% year-on-year, while nonferrous metals, petroleum & petrochemical and basic chemicals also led gains. AI is also spreading beyond infrastructure into real-world applications such as gaming and biomedicine, with companies like Giant Network and Century Huatong posting sharp profit increases.
Why it matters
The results show AI is moving from 'burning cash' on infrastructure to tangible profitability across the economy. As computing power, memory and chip makers reap outsized gains, the impact is broadening to manufacturing, gaming and drug discovery, creating a positive feedback loop where AI investment directly boosts industrial productivity.
The rapid adoption of AI in traditional sectors — from visual inspection on factory lines to AI-assisted drug screening — indicates that AI's value proposition is no longer theoretical. With manufacturing AI penetration now surpassing 30%, the technology is becoming a visible driver of 'new productive forces' in the real economy.
Key facts
5,550 A-share companies disclosed H1 2026 results as of Aug. 30, with combined revenue of 37.68 trillion yuan (+7.63% YoY) and net profit of 3.58 trillion yuan (+19.40%).
Cambricon's H1 revenue reached 5.996 billion yuan (+108.13%), net profit 2.311 billion yuan (+122.61%); Longsys net profit surged to 10.577 billion yuan.
Electronics sector net profit grew 195.11% YoY; AI adoption in manufacturing exceeded 30%, according to MIIT.
What to watch next
Continued tightness in DRAM supply is expected through H2 2026, according to ChangXin Technology, which could keep memory prices high and support earnings for the storage chain.
The pace at which AI spreads from leading tech companies to broader industries — especially gaming, biomedicine and smart manufacturing — will determine whether the current earnings cycle broadens beyond computing power plays.
Investors will also watch whether newly listed companies like ChangXin Technology and Lianxun Instrument can sustain their explosive growth and reshape market leadership in the tech sector.