A-Share Overseas Trade Index Rises 2.23% Last Week; 70 Firms Have Overseas Revenue Share Above 60%

Market Performance

Last Friday (September 18), the A-share Overseas Trade Index rose nearly 2% in a single day, with a cumulative gain of 2.23% for the week (September 14–18). This significantly outperformed the Shanghai Composite Index (1A0001) over the same period.

China-U.S. Trade Data

According to statistics from China's General Administration of Customs, China's imports and exports with the United States have grown for five consecutive months. The cumulative value of bilateral trade reached RMB 2.76 trillion in the first eight months of this year (RMB unless otherwise specified), representing a year-on-year increase of 1.3%.

Export Highlights

• China's annual export value to the U.S. has remained above RMB 3 trillion from 2020 through 2025, consistently accounting for more than 11% of China's total exports.
• In the first eight months of this year, China's exports to the U.S. totaled RMB 2.07 trillion, representing 10.27% of total exports.
• August exports to the U.S. amounted to RMB 288.61 billion, marking the second-highest monthly figure in the past 19 months, trailing only June of this year.

Key Export Categories (Based on Full-Year 2025 Data)

China's exports to the U.S. primarily consist of:

• Electromechanical and audio-visual equipment along with their parts and accessories
• Textile raw materials and products
• Plastics, rubber, and related products
• Vehicles, aircraft, ships, and transportation equipment
• Footwear, hats, and umbrellas
• Food and beverages

These categories cover core overseas expansion tracks including high-end manufacturing, traditional light industry, and daily consumer goods (883434).

70 Companies Maintain Overseas Revenue Share Above 60%

Based on the aforementioned commodity categories, corresponding A-share companies are mainly concentrated in industries such as textiles and apparel, light industrial manufacturing, medical consumables (884242), and general-purpose equipment (881117).

According to statistics from Securities Times Data Treasure, among these sectors, 70 companies maintained an overseas revenue share exceeding 60% of total operating income continuously from 2021 to 2025.

Leading Companies by Absolute Overseas Revenue

Companies leading in absolute overseas revenue include:

• Huali Group (300979)
• Great Star Technology (002444)
• Henglin Co., Ltd. (603661)
• Zhiou Technology (301376)

The top three companies each recorded overseas revenues exceeding RMB 10 billion in 2025.

Huali Group (300979) reported overseas revenues surpassing RMB 24 billion in 2025, with North American sales accounting for nearly 78% of its total revenue.

Henglin Co., Ltd. (603661) has established localized sales and service teams in key markets such as the United States, Europe, and South Korea, implementing an "Iron Triangle" organizational model focused on business, product, and delivery.

Recent Market Movers (September 18)

In terms of market performance, the following companies hit their daily upper limit sharply on September 18:

• Huaci Shares (001216)
• True Love Home Furnishing (003041)
• Zhejiang Zhengte (001238)

Huaci Shares (001216) achieved four daily upper limits during last week's five trading days. Its overseas revenue accounted for nearly 69% of total revenue in 2025 and exceeded 69% in the first half of this year. The company holds a leading position in the daily-use ceramics sector, with export volumes ranking among the highest domestically.

Zhejiang Zhengte (001238) has maintained an overseas revenue share above 90% since 2022, exceeding 94% in the first half of this year. As one of the world's major consumer markets for outdoor leisure products (883434), the United States accounts for a relatively high proportion of the company's overseas sales.

Year-to-Date Performance (as of September 18)

The average stock price decline among these 70 companies was 4.26%. Fifteen companies posted year-to-date gains exceeding 10%, with the following recording cumulative increases of more than 50%:

• Wuzhou Medical (301234) — Year-to-date gain exceeding 170%. The company is among the earliest domestic developers of safety infusion products, with sales covering multiple regions across Asia, Europe, and the Americas.
• Ailijiaju (603221) — Year-to-date rise of nearly 139%. Specializing in the R&D and production of mid-to-high-end resilient flooring, the company has built stable customer and channel resources, with operations spanning North America, Europe, Southeast Asia, and other regions.
• Caicai Shares (301122)

Ten Lagging Yet High-Potential Companies Identified

According to Data Treasure statistics, among the 70 companies mentioned, only ten experienced year-to-date declines of at least 5% while having consensus institutional forecasts predicting net profit growth exceeding 25% for both 2026 and 2027. These companies are primarily distributed across Shenwan secondary industries such as:

• Household goods (881139)
• Cultural and entertainment supplies (884142)
• General-purpose equipment (881117)

Top Forecasts for 2026 Net Profit Growth

Based on consensus institutional forecasts for 2026 net profit growth:

• Mengbaihe (603313) — Forecast to achieve nearly 1,030% net profit growth in 2026. The company's overseas revenue exceeded RMB 7 billion in 2025, accounting for over 80% of total revenue, a ratio that also surpassed 80% in the first half of this year. With stable customer and channel resources, its products are sold in 110 countries and regions worldwide, including the United States, the United Kingdom, and Japan. Sinolink Securities (600109) noted that the company has a well-established overseas supply chain layout and possesses certain capacity advantages.
• Haers (002615) — One of China's most influential manufacturers and brand operators of cups and bottles. Since 2024, its overseas revenue share has consistently exceeded 85%. Institutions forecast nearly 200% net profit growth for 2026. Cinda Securities (601059) stated that the company demonstrates steady growth and improving profitability margins, with overseas customers entering a restocking cycle (883436), suggesting continued growth momentum.
• Zhejiang Zhengte (001238)

Market Performance of These Ten Companies

All ten companies recorded year-to-date declines exceeding 10%. The following saw cumulative year-to-date drops exceeding 20%:

• Songlin Technology (603992)
• Chuangyuan Shares (300703)
• Qisheng Technology (603610)