Dividend yield up to 7.79%! Defensive blue-chip stocks announced, with 6 stocks experiencing over 50% surge in performance

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The latest “downside-resistant” force is starting to emerge.

List of high-quality stocks with strong downside resistance released

In recent times, against the backdrop of escalating Middle East conflicts, volatility in China’s A-share market has intensified amid the interweaving of internal and external factors. During intraday trading on March 23, the Shanghai Composite Index briefly fell below the 3,800-point threshold. Market sentiment turned cautious, and funds accelerated their retreat from high-volatility sectors. However, not all individual stocks have followed the crowd.

In this round of adjustment, a “downside-resistant” force is coming to the surface. Behind these downside-resistant high-quality stocks is solid earnings support, and their valuation levels are also relatively low.

Securities Times · DataBao selects the downside-resistant high-quality stocks according to the following criteria: 1. As of the close on March 23, the latest closing price has retraced by less than 10% from the intra-year high; 2. As of the close on March 23, the trailing price-to-earnings ratio is below 30x; 3. Based on 2025 annual reports, earnings briefings, and the lower bound of forecast net profit (if no lower bound exists, use the announced figure), the company’s 2025 net profit is positive and shows year-on-year growth (including cases where losses turn into profits).

Statistics show that a total of 35 stocks made the cut. These stocks are mainly distributed across industries such as biopharmaceuticals, banks, utilities, transportation, electrical equipment, and food and beverages. Among them, biopharmaceuticals and banks each have 7 stocks.

In terms of earnings growth pace, there are 6 stocks with 2025 net profit growth of 50% or more, including Sansheng Guojian, Qianyuan Electric Power, Pingtai Technology, Suihengyun A, Yanjing Beer, and Sinocera Electric.

The earnings briefing released by Sansheng Guojian shows that in 2025, the company’s net profit was RMB 2.939 billion, up 317.09% year over year, with net profit growth ranking first. During the reporting period, the company reached an important cooperation with Pfizer, receiving the upfront payment for the authorization license relating to project 707 from Pfizer and recognizing corresponding revenue of approximately RMB 2.890 billion.

Qianyuan Electric Power expects 2025 net profit of RMB 567 million to RMB 632 million, representing growth of 160% to 190%. During the reporting period, the company’s water inflow was about 45% higher than the same period last year. Total electricity generation for 2025 was 12.12 billion kWh, up 71.9% year over year, which increased power generation revenue and power generation profit.

Pingtai Technology achieved net profit of RMB 2.359 billion in 2025, up 98.14% year over year. During the reporting period, the global automotive market’s trends toward intelligence and electrification continued, and demand in the energy storage market grew strongly. The consumer electronics market recovered, and the phase of inventory reduction for new energy batteries and materials came to an end, gradually improving the operating environment for the industry. The company’s wet-process separator and coating processing businesses saw synchronized and substantial volume growth; silicon-carbon anode mass production began, with the business base recovering and operations improving step by step; product sales of functional materials such as PVDF, PAA, and ceramic coating materials grew rapidly, effectively contributing additional performance growth.

23 stocks show high dividend characteristics

Among the 35 downside-resistant high-quality stocks mentioned above, many are very generous in returning value to investors, with dividend yields at relatively high levels. DataBao statistics show that as of the close on March 23, 23 stocks had dividend yields (over the last 12 months) of more than 2%. Among them, China Merchants Bank, Jiangsu Guotai, Shanghai Bank, and SuNong Bank all had dividend yields exceeding 5%.

China Merchants Bank’s dividend yield is 7.79%, ranking first. The company’s 2025 net profit was RMB 150.2 billion, up 1.21% year over year. By the end of 2025, the Group’s non-performing loan ratio was 0.94%, down 0.01 percentage points from the end of the previous year; the allowance coverage ratio was 391.79%, down 20.19 percentage points from the end of the previous year; the loan loss reserve ratio was 3.68%, down 0.24 percentage points from the end of the previous year.

Jiangsu Guotai’s dividend yield is 5.4%. The company’s 2025 net profit was RMB 1.294 billion, up 17.05% year over year. During the reporting period, due to substantial investment gains generated from reducing its stake in investee listed companies, the overall net profit of the new energy sector increased. In the supply-chain segment, export volumes remained stable, the business structure was further optimized, and profitability rose.

Shanghai Bank’s dividend yield was 5.39%, and the company’s 2025 net profit was RMB 24.193 billion, up 2.69% year over year. During the reporting period, the Group’s asset quality remained stable, with a non-performing loan ratio of 1.18%, unchanged from the end of the prior year; the allowance coverage ratio was 244.94%, down 24.87 percentage points compared with the same period last year.

6 stocks: average daily trading value doubles month over month

Judging by performance in the secondary market, among the 35 downside-resistant high-quality stocks, 23 had their average daily trading value rise by more than 10% month over month since March. For the 6 stocks, the month-over-month increase in average daily trading value more than doubled. They are Jiansheng Group, Qianyuan Electric Power, Pingtai Technology, Sinocera Electric, Yuan Chuang Shares, and Suihengyun A.

Since March, Jiansheng Group’s average daily trading value was RMB 148 million, with a month-over-month increase of 203.38%, ranking first. In 2025, the company achieved net profit of RMB 405 million, up 24.62% year over year. A research report from Northeast Securities said that Jiansheng Group’s performance exceeded expectations. The company’s Egypt expansion plan increases capacity with diversified advantages; cash flow is healthy and ample; overall operations remain sound. The outlook is positive for the continued recovery of orders and improvement in profitability.

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Responsible editor: Hao Xinyu