BEIJING, May 14 (Xinhua) -- Despite global economic uncertainties, China's listed companies posted solid first-quarter performance in 2025, driven by robust consumer spending and steady advances in technological innovation.

Among the 5,400 listed companies that have released financial reports for the first quarter (Q1), more than 70 percent were in the black, according to financial information provider Wind.

The combined net profit attributable to shareholders of all listed firms came in at 1.49 trillion yuan (about 207 billion U.S. dollars), up 3.64 percent from a year ago, the data showed.

According to analysts, the Q1 reports reflect a surge in emerging consumption trends and booming technological innovation among China's listed companies, underscoring the country's ongoing shift toward high-quality development.

The consumer sector emerged as a bright spot in first-quarter earnings, with listed consumer companies reporting a 4.7 percent year-on-year rise in revenue and a 14.7 percent increase in net profit attributable to shareholders, both outpacing the average growth rate of non-financial firms.

Appliance makers were among the top gainers, supported by the government-backed trade-in scheme. During the period, the household appliance and consumer electronics segments posted year-on-year growth of 22.8 percent and 107.5 percent, respectively, in net profit attributable to shareholders.

Last year, China's consumer goods trade-in program boosted product sales by more than 1.3 trillion yuan, according the Ministry of Commerce. Building on the achievements, the country's central authorities have recently issued approximately 81 billion yuan in ultra-long special treasury bonds, aiming to increase support for the program this year.

New consumption models have been reshaping the market. According to Founder Securities, Chinese consumers have been spending more on holidays, ice and snow sports, and buying "guzi"-- a homonym for "goods" that refers to various merchandise featuring elements of animation, comics and games (ACG) culture.

In the first quarter, profits of firms in ice and snow tourism rose 25.8 percent year on year, while companies in the pet industry and those related to "guzi" economy saw earnings jump 58.2 percent and 93.6 percent, respectively.

Spending on culture, entertainment and tourism also gained momentum among Chinese consumers, fueling business growth across sectors such as aviation, hospitality and film.

Take the movie industry, for example. As of April 30, 16 film and television production companies had released their first-quarter financial reports, with six of them reporting a year-on-year doubling of net profit attributable to shareholders.

Yan Xiang, chief economist at Founder Securities, said that the simultaneous rise in profits and revenue among consumer-related firms highlights the immense potential of China's vast consumer market. As consumption continues to expand steadily, consumer spending is expected to play an increasingly significant role in boosting growth in the country, he added.

Another key theme emerging from the quarterly reports was tech-driven innovation, with listed Chinese companies emphasizing advancements in smart manufacturing, digital operations and supply chain optimization as part of a broader push to spur growth through technology.

In line with the trend, China's listed firms have funneled more funds for research and development (R&D), with data from Wind showing that nearly half of all listed firms increased R&D investments in Q1.

Breakthroughs in core technologies have also facilitated industrial upgrades. Companies in emerging industries accounted for 40 percent of all firms listed on the Shanghai main board, overtaking traditional sectors like finance to become the market's leading sectors by market capitalization.

Zheng Hongda, an analyst with Western Securities, stressed the importance of strong internal momentum among China's technology firms in the face of a complex external environment.

For technology companies, their investment plans for the next period should center on key areas such as semiconductors and artificial intelligence, which will galvanize the internal driving forces along the industrial chain, Zheng said.■