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Analysts said the profit decline was probably due to the acquisition of a smaller money-losing brokerage Guangzhou Securities.

And it announced that it will extend AWS PrivateLink — a secure way to access AWS services without having to use the public internet that was introduced earlier this month — to partners with SaaS (software as a service) applications on the AWS Marketplace, so their security-oriented customers can also take advantage of this technology. Companies selling their wares in the AWS Marketplace will also now be able to use a standard contract form, which should save time and hassle.

Analysts said this a reflection of the overall weakening economy, but profit growth of those firms may gradually pick up starting from the second quarter as the country's supportive policies take effect.

Analysts said FAW-Volkswagen will remain the most important weapon for quite a long time to come for Audi to defend its position in China.

Analysts and fund managers remained bullish in their long-term outlook on Chinese stocks, citing favorable factors including rising foreign interest along with the opening of the country's capital markets, potential opportunities related to the reform of State-owned enterprises, and the consumption potential of the Chinese people.