List of stocks with consistently high ROE over the past three years (with stocks included)

On the occasion of the Spring Festival, Securities Times Data Treasure has specially compiled a list of A-share listed companies with outstanding return on equity (ROE) performance, providing references for your post-holiday layout and long-term investment.

In the value investment framework, return on equity (ROE) is one of the important indicators in financial reports. ROE measures a company’s ability to generate after-tax profits using shareholders’ invested capital. Companies that maintain high ROE over the long term often possess broad “moats” and sustainable business models.

According to Securities Times Data Treasure statistics, in the first three quarters of 2025, there are 53 A-share listed companies with non-recurring profit deduction and diluted ROE exceeding 20%. The food and beverage industry has the most companies, with 7 listed; followed by the communication and social services industries, with 6 and 5 companies respectively.

Tongzhou Electronics and Chongqing Beer rank at the top, with non-recurring profit deduction and diluted ROE of 71.42% and 61.02%, respectively. Tongzhou Electronics mainly includes high-power power supply products in the energy sector. In recent years, the global data center and cloud computing markets have continued to grow rapidly, significantly boosting demand for high-power power supplies. The company expects to achieve net profit attributable to shareholders of 175 million to 230 million yuan in 2025, a year-on-year increase of 151.40% to 230.42%.

Chongqing Beer’s non-recurring profit deduction and diluted ROE have remained above 60% from 2020 to 2024. The company’s 2025 earnings forecast shows an expected net profit attributable to shareholders of 1.231 billion yuan, a year-on-year increase of 12.31 billion yuan, with a 10.43% growth. The weighted ROE reaches 81.68%, a significant increase of 21.51 percentage points year-on-year. The company states that in 2025, sales volume increased by 0.68% year-on-year, outperforming the industry, and total operating revenue also maintained steady growth. Additionally, cost savings from declining raw material costs and supply chain optimization projects have improved gross profit margins.

Leading companies in the food and beverage industry generally have high ROE. Many institutions believe that the consumer sector has shown signs of marginal recovery in recent years.

According to Dongwu Securities research report, since the third quarter of 2024, “boosting consumption” has been repeatedly mentioned. On one hand, the necessity of stimulating consumption has been highly emphasized; on the other hand, policies such as “national subsidies” for home appliances and automobiles, local dining subsidies, and fertility subsidies have begun to be implemented. From a micro perspective, more marginal improvements can be gradually observed, like a spark that could ignite a prairie fire. The institution holds a relatively optimistic outlook on the consumer industry for 2026.

Finding companies capable of continuously generating high ROE in the future is akin to searching for the “long-distance champions” in the capital market.

According to Data Treasure statistics, based on consensus forecasts from five or more institutions, 46 listed companies are expected to have an average predicted ROE of over 25% from 2025 to 2027. The most numerous sectors are electronics, food and beverage, automotive, and communication, with 6, 6, 5, and 5 companies respectively.

Within the electronics sector, the PCB (printed circuit board) industry chain has performed notably. Sanhong Technology, Shengyi Electronics, and Huatian Technologies are among the PCB stocks listed, with predicted average ROEs for 2025–2027 of 39.63%, 32.66%, and 29.12%, respectively. As AI drives PCB toward high-value directions such as high multi-layer and high-end HDI, not only are PCB manufacturers’ prices and quantities rising, but upstream high-end copper-clad laminates, drilling consumables, and equipment are also entering a new growth cycle.

Four optical communication stocks—Xinyi Sheng, Zhongji Xuchuang, Tianfu Communications, and Shijia Photonics—are listed, with predicted average ROEs for 2025–2027 of 49.36%, 40.88%, 37.77%, and 33.17%, respectively.

Guotou Securities research report believes that the new wave of AI computing power construction will drive high growth in high-speed optical modules. It is expected that in 2026, global cloud service providers’ capital expenditures will continue to rise, driven by AI cluster expansion, new generation computing platforms, and the implementation of technologies such as 1.6T/CPO, forming the core driving forces.

(Source: Securities Times Network)