赛力斯智能安全行业首创以场景定义安全的理念，构建覆盖生命保护、车身防护、健康呵护、隐私守护 四大安全领域的智能安全体系，为用户提供全方位的安全守护。在智能制造方面，赛力斯建设了三座超 级工厂，其中赛力斯超级工厂（龙兴）拥有超3000台机器人的智能协同，实现关键工序的100%自动 化；工厂内率先应用了万吨级一体化压铸机，可将原本87个零件集成为1个零件，有效提升了生产效率 和产品质量。 其实面向"十五五"，赛力斯已经体现做好了相应的技术准备。作为一家技术科技型企业，赛力斯长期深 耕电动化与智能化核心技术领域，以技术创新培育新质生产力，打造了赛力斯魔方技术平台2.0、赛力 斯智能安全、赛力斯超级增程、赛力斯超级工厂等一系列技术创新成果，构建起强大"技术护城河"。 其中，赛力斯魔方技术平台2.0以全景智慧为引领，以智能安全为底座，对智慧能源、智能底盘、EEA 架构和智慧空间进行全新升级，是面向AI驱动的智慧电动汽车平台。全新一代赛力斯超级增程系统基 于"赛翼（C2E）增程架构"与"RoboREX智能控制技术"打造，具备"静谧无感、高集成、高效率"三大行 业领先优势，增程器一升油可发电3.65度，最高热效率达44.8 ...

Core Viewpoint - The A-share space photovoltaic concept stocks are gaining market attention due to Elon Musk's ambitious plan for "100 GW space photovoltaics" by early 2026 and the exposure of 200,000 low-orbit satellite applications in China, raising demand expectations from "billion-level" to "trillion-level" [1] Industry Overview - The space photovoltaic industry traces back to the mid-20th century space race and is now moving towards industrialization with the rise of commercial aerospace [1] - The global space photovoltaic industry is still in its introduction phase, with emerging technology paths and market structures [1] Technology Pathways - The technology landscape shows a "three generations coexist" trend: - Short-term: GaAs batteries dominate (approximately 1000 RMB/W), suitable for high-value communication satellites - Mid-term: P-type HJT heterojunction batteries are penetrating the low-orbit satellite market due to lower costs and lightweight advantages - Long-term: Focus on perovskite tandem batteries, with theoretical efficiency exceeding 45% and costs only 1/10 of GaAs, though stability and radiation resistance need verification [1] Market Potential - The satellite launch volume is expected to surge, with an estimated 50,000 launches annually by 2040, leading to a projected space photovoltaic battery market size of 328.8 billion RMB by 2035, over 30 times current levels [2] Company Insights - **Lens Technology**: The company has matured its UTG flexible glass manufacturing process and is in deep technical validation with clients for space photovoltaic applications, aiming to become a new growth driver [2] - **JinkoSolar**: The company sees potential in perovskite and TOPCon/perovskite tandem batteries for space applications, with a record battery conversion efficiency of 34.76% [4] - **GCL-Poly**: The company has significant technical reserves in HJT technology and has delivered over 10 GW of ultra-low carbon HJT products, which are suitable for space applications due to their lightweight and radiation resistance [5] - **Trina Solar**: The company has a long-term layout in crystalline silicon batteries, perovskite tandem batteries, and III-V GaAs multi-junction batteries, achieving leading R&D results [10] - **Canadian Solar**: The company has solid production capabilities in HJT and perovskite tandem technologies and is tracking opportunities in the commercial aerospace market [11] Research and Development - Companies are actively exploring R&D plans for space photovoltaic applications, with some already conducting tests on flexible glass for space solar cells [8] - The industry is focusing on developing high-conductivity silver pastes and lightweight, flexible, and tandem battery structures to meet aerospace demands [6]

Core Viewpoint - Aofei Data has decided to terminate its plan for a private placement of A-shares originally intended to raise 1.695 billion yuan, citing business development and strategic planning considerations [1][2]. Group 1: Termination of Private Placement - The private placement was intended to fund the "New Generation Cloud Computing and Artificial Intelligence Industrial Park" project, which aimed to enhance the company's IDC infrastructure in North China [2]. - The termination of the private placement was officially confirmed by the Shenzhen Stock Exchange on January 27 [1]. - Aofei Data stated that the decision would not significantly impact its operations or harm the interests of shareholders, particularly minority shareholders [2]. Group 2: Management Changes - Aofei Data's former General Manager, Huang Zhanpeng, resigned from his positions due to personal family reasons and held 124,100 shares, representing 0.01% of the total share capital [1]. Group 3: Financial Performance - Despite the termination of the private placement, Aofei Data reported strong financial performance for the first three quarters of 2025, with revenue reaching 1.824 billion yuan, a year-on-year increase of 15.33% [5]. - The net profit attributable to shareholders was 145 million yuan, up 37.29%, and EBITDA was 827 million yuan, reflecting a 38.77% increase [5]. - The company's IDC services generated approximately 1.387 billion yuan in revenue, a 42.22% increase, driven by improved data center deployment rates and energy management [5]. Group 4: Capital Structure and Financing - Since its listing in 2018, Aofei Data has raised a total of 2.637 billion yuan through direct financing, with cash dividends amounting to only 113 million yuan [5]. - The company's asset-liability ratio was reported at 75.83% as of the end of the third quarter of 2025, indicating a high level of financial leverage [5].

Group 1 - The Guangdong Electronic Information Industry Association recently released the list of "Top 100 Comprehensive Strength Enterprises in Guangdong's Electronic Information Manufacturing Industry by 2025," with O-Film Technology (002456.SZ) ranked 38th, highlighting the company's leading position in the industry and receiving high recognition [1] - O-Film Technology is a leader in the optical and optoelectronic field, with three main business systems: smartphones, smart vehicles, and new fields, providing one-stop optical and optoelectronic product technology services [1] - The company's main business includes the design, research and development, production, and sales of optical camera modules, optical lenses, fingerprint recognition modules, 3D ToF, driving domain, body domain, cockpit domain, and smart locks [1] Group 2 - O-Film Technology has established a comprehensive product quality management system, ensuring product quality stability and consistency throughout the entire process of product design, material procurement, and production management [1] - The company has significantly improved production efficiency and product quality by relying on intelligent production lines and industrial internet technology, continuously providing efficient and reliable one-stop optical and optoelectronic product technology services to global customers [2] - O-Film Technology has been recognized by the Ministry of Industry and Information Technology as a "Manufacturing Single Champion Enterprise (2024-2026)" [2]

Core Viewpoint - Aofei Data (300738) has decided to terminate its plan to issue A-shares to specific investors for the year 2025, which was originally intended to raise 1.695 billion yuan [1][2] Group 1: Termination of Fundraising - The termination of the fundraising plan was based on the company's actual business development, future strategic planning, and project progress after careful consideration and communication with relevant parties [2] - The company emphasized that this decision will not have a significant impact on its business operations or harm the interests of shareholders, especially minority shareholders [2] Group 2: Management Changes - On the same day, Aofei Data announced the resignation of its former general manager, Huang Zhanpeng, due to personal family reasons, and he will no longer hold any position in the company [1] Group 3: Financial Performance - Despite the termination of the fundraising, Aofei Data reported strong financial performance for the first three quarters of 2025, with revenue reaching 1.824 billion yuan, a year-on-year increase of 15.33%, and a net profit attributable to shareholders of 145 million yuan, up 37.29% [4] - The company's EBITDA was 827 million yuan, reflecting a 38.77% increase, and the gross profit margin improved significantly by 5.29 percentage points to 34.99% compared to the same period in 2024 [4] Group 4: IDC Business Growth - The IDC services, as the core revenue source, generated approximately 1.387 billion yuan, a year-on-year increase of 42.22%, mainly benefiting from improved data center deployment rates and energy management optimization [5] - As of the end of September 2025, the total number of operational cabinets exceeded 57,000, representing a 33% increase compared to the end of 2024 [5] Group 5: Financial Structure - Aofei Data has raised a total of 2.637 billion yuan through direct financing since its listing eight years ago, with cumulative cash dividends amounting to only 113 million yuan [4] - The company's asset-liability ratio was high at 75.83% as of the end of the third quarter of 2025, leading to an increase in financial expenses [6]

Core Insights - Xiaomi has partnered with Ant Group to launch innovative services on Xiaomi's smart glasses using the GPASS technology framework, marking the integration of this technology into daily life for a seamless user experience [1][7] Group 1: Parking Payment Service - The smart glasses feature an "AI Parking Assistant" that allows users to pay for parking without using their phones, enhancing the user experience with a hands-free approach [3][5] - The payment process involves three simple steps: voice notification of billing start time, voice-initiated payment, and confirmation of payment completion, all without manual operation [4][5] Group 2: Health Management Integration - GPASS technology also enables the integration of Ant Group's AI health application "Afu" with Xiaomi's smart glasses, allowing users to sync health data and access health-related queries via voice commands [5][7] Group 3: GPASS Technology Framework - GPASS is built on a unified framework focusing on security, connectivity, and interaction, ensuring a secure and seamless experience for users [7][8] - The technology integrates biometric identification for secure authorization and connects smart glasses with the Alipay digital service ecosystem, covering various parking facilities across major cities [7][8] Group 4: Future Prospects - Since its launch in 2025, GPASS has been evolving AI glasses from basic interaction devices to personal intelligent assistants, with plans for more digital services to be integrated into various scenarios [8] - The development of an open, secure, and interconnected service system is seen as crucial for the industry's advancement, with GPASS lowering the development barriers for hardware manufacturers [8]

1月27日晚间，京基智农（000048.SZ）发布的股份回购进展公告受到市场关注。公告显示，公司已累计 回购股份543.80万股，占总股本的1.03%，成交金额共计0.94亿元。其中，最高成交价为19.50元/股。 科技布局打开估值空间，双轮驱动战略清晰 真正的看点在于京基智农在科技赛道的突破。公司锚定具身智能万亿蓝海，拟控股国家级专精特新"小 巨人"汇博机器人，后者2026-2028年承诺年收入增速不低于30%，年内将发布2款人形机器人。 据悉，"十五五"规划将机器人产业作为培育新质生产力的关键领域，并置于重要位置。国家层面正大力 推动其创新发展与融合应用，为公司此次布局提供了明确的政策支持和发展机遇。 根据此前规划，公司拟在6个月内使用1亿至2亿元自有资金回购股份，用于股权激励或员工持股计划。 实际上，早在1月7日，京基智农就已启动首次回购，以999万元购入65.48万股。 此次快速有效的股份回购，不仅反映出管理层对公司内在价值的坚定信心，更以真金白银的实际行动， 向资本市场传递了积极的估值信号。 值得关注的是，公司已获1亿元专项贷款支持，这一融资将进一步强化公司实施回购的财务能力与执行 决心。 财务实力 ...

1月26日晚间，中国海诚（002116.SZ）发布2025年度业绩快报及第四季度经营数据。面对复杂多变的外 部环境与行业周期性调整压力，公司交出了一份"稳中有进、质效双升"的成绩单：全年实现营业总收入 69.69亿元，同比增长2.16%；利润总额3.91亿元，同比增长4.27%；归母净利润3.43亿元，同比增长 2.21%，营收净利有望创历史新高。 值得关注的是，公司资产结构持续优化，截至2025年末总资产61.85亿元，同比下降1.15%，而净资产达 到27.72亿元，同比增长8.80%。同日披露的订单数据显示，第四季度单季新签合同29.70亿元，其中新 能源新材料业务贡献11.88亿元，占单季订单总额的40%，战略转型成效加速显现。 延续高分红传统 积极做好"价值传递" 中国海诚连续三年发布ESG报告，在万得评级中升至"A"级，中诚信评级连续三年获评"A+"级；并获易 董"最佳ESG实践奖"、南方周末"低碳先锋企业奖"，可持续发展绩效获市场高度认可。公司积极响应国 家"固废十条"政策，在固废处理领域具备深厚技术储备与项目经验。年内荣获轻工行业"优秀工程总承 包奖"21项（含一等奖5项）、"优秀工程勘察设计 ...

1月27日，陆控发布复牌进度季度更新公告，公告补充调查结果，并提供安永进行22年、23年、24年财 报审计。纽交所(NYSE)已批准其过往财报发布延期需求。公司正在编制尚待刊发的财务业绩，同时， 公司已委任德勤为其独立内部监控顾问，就内部监控政策及程序进行审查，并提供相应整改建议，公司 正作出回应并持续根据独立内部监控顾问的建议采取相应整改措施。 ...

1月27日，倍轻松（688793.SH）披露2025年度业绩预告，预计报告期内实现归属于母公司所有者的净 利润为-1.05亿元到-0.84亿元，短期业绩波动主要系公司主动进行了战略调整与升级。 当前智能按摩器具行业处于向高质量发展转型的关键期，赛道竞争加剧，消费需求向功效与体验升级， 行业内企业普遍面临经营策略调整挑战。倍轻松此轮业绩波动，是行业转型期的客观体现。面对行业与 自身经营双重变化，倍轻松主动承压、聚力破局，始终锚定"中医×科技"核心战略，围绕技术研发、全 球布局及模式创新三大方向持续深耕，以提质增效、激活内生动力的扎实行动，稳步筑牢发展根基，积 极探索业绩稳步回升与长效增长的可行路径。 在跨界合作领域，倍轻松把握新能源汽车产业机遇，聚焦车载健康场景布局，与比亚迪、奇瑞集团等头 部车企达成战略合作。依托个人健康领域的技术积累，系统性地拓展至移动出行空间，为自身开辟出一 条坚实而富有潜力的增长渠道。 秉持"中医×科技"发展理念，倍轻松持续推进传统养生智慧与现代前沿技术的深度融合，并将AI智能化 作为产品研发核心方向。其全新升级的中医体质辨识模型，结合舌象、脉象AI分析模块，可基于智能 穿戴设备数据实时 ...