历年净利、扣非情况(亿元) 1 (亿元) 0.148 0 -0.34 -1.27 -1.56 -1 -2.05 -3.48 -2 -3 -4 2020 2021 2023 2022 2024 2025E 归母净利润 扣非净利润 制图数据来自恒生聚源数据库 历年净利、扣非同比增长情况(%) 500 55-16 --- 31:15 -- 0 38.01 % -335.33 -266.19'-173.61 -500 2021 2020 2022 2023 2024 2025E ¬○- 归母净利润同比增长率 -○- 扣非净利润同比增长率 中证智能财讯广生堂（300436）1月30日晚间披露2025年度业绩预告，预计2025年归母净利润亏损1.7亿元至2.4亿元，上年同期亏损1.56亿元；扣非净利润亏 损1.78亿元至2.48亿元，上年同期亏损2亿元。以最新收盘价计算，市净率（LF）约41.43倍，市销率（TTM）约36.83倍。 以本次披露业绩预告均值计算，公司近年市盈率（TTM）图如下所示： 资料显示，公司秉承"广播仁爱·关注民生"的企业使命，坚定为人类的肝脏健康提供科学解决方案的梦想，坚定不移推动创新药物研发，实 ...

Core Viewpoint - Company ST Tongmai (603559) expects a net profit loss of 130 million to 180 million yuan for the year 2025, an improvement from a loss of 301 million yuan in the previous year [4] Financial Performance - The expected net profit loss for 2025 is between 130 million and 180 million yuan, while the non-recurring net profit loss is projected to be between 125 million and 175 million yuan, compared to a loss of 238 million yuan in the previous year [4] - The company's price-to-book ratio (LF) is approximately 2.76 times, and the price-to-sales ratio (TTM) is about 6.28 times based on the latest closing price [4] Industry Context - The telecommunications construction industry is facing intense competition, leading to prolonged construction periods and fluctuating demand from downstream industries, which has resulted in a continuous decline in industry gross margins [15] - To secure projects, the company has been lowering its bids, which compresses profit margins and leads to cost overruns on some projects [15] - The company is also facing challenges with long accounts receivable aging and a high provision for bad debts [15]

Group 1 - The company Yabo Co., Ltd. (002323) expects to achieve an operating revenue of between 330 million to 380 million yuan for the year 2025, with a projected net loss attributable to shareholders of between 140 million to 190 million yuan, compared to a loss of 201 million yuan in the same period last year [4] - The company's basic earnings per share are estimated to be between -0.066 yuan and -0.0896 yuan [4] - The latest closing price indicates a price-to-book ratio (LF) of approximately 10.25 times and a price-to-sales ratio (TTM) of about 10.1 times [4] Group 2 - The company’s main business includes metal roofing systems and new energy [14] - The performance fluctuation is attributed to the company's strategy of accepting new projects based on good payment conditions and reliable customer credit, focusing on high-quality clients such as central enterprises, state-owned enterprises, and listed companies [14] - The company plans to concentrate resources on solidifying its main business, reduce fixed expenses and financial costs, and accelerate industrial restructuring to achieve strategic transformation [14]

-〇- 行业均值 - 公司 制图数据来自恒生聚源数据库 市净率(LF)历史分位(%) 001 90 90-83 87d88 80 70 69-21 60 58a76 50 40 3 8.8 30 20 10 0- 2020-12-37 I 2021-06-30 | 2027-12-37 1 <022-72-37 1 2-06-30 ' -06-30 ' 2n~ 中证智能财讯东方智造（002175）1月30日晚间披露2025年度业绩预告，预计2025年实现营业收入3亿元至3.3亿元；归母净利润亏损2600万元至3900万元， 上年同期盈利1661.25万元；扣非净利润亏损2600万元至3900万元，上年同期盈利1311.75万元；基本每股收益-0.02元/股至-0.03元/股。以最新收盘价计算， 市净率（LF）约6.68倍，市销率（TTM）约17.15倍。 以本次披露业绩预告均值计算，公司近年市盈率（TTM）图如下所示： 近年来市盈率变化情况 (倍) 400 0 200 100 49 B 30.72 1 88 0 16 59 -100 -200 -300 202-06-30 2021-12-37 2021-06 ...

Group 1 - The company Anli Education (600661) expects to achieve an operating revenue of 1.38 billion yuan in 2025, representing a year-on-year growth of 12.23% [4] - The company forecasts a net profit attributable to shareholders of 80 million yuan, a significant recovery from a loss of 48.58 million yuan in the same period last year [4] - The expected net profit after deducting non-recurring gains and losses is approximately 4 million yuan, compared to a loss of 67.94 million yuan in the previous year [4] Group 2 - As of January 30, the company's price-to-earnings (P/E) ratio (TTM) is approximately 38.29 times, the price-to-book (P/B) ratio (LF) is about 22.77 times, and the price-to-sales (P/S) ratio (TTM) is around 2.22 times [4] - The company has formed four major business segments: quality education, vocational and basic education, international education, and adult education [13] - In 2025, the company plans to deepen strategic adjustments, expand business scale, enhance product quality, and improve operational efficiency through various initiatives [13] Group 3 - The company completed the sale of real estate assets and shares of Kensington Park School Limited, generating approximately 64 million yuan in revenue [13] - The company received government subsidies totaling about 14 million yuan in 2025 [13]

Core Viewpoint - Company Haixin Food (002702) expects a net loss attributable to shareholders of 37 million to 52 million yuan for the year 2025, indicating a similar loss compared to the previous year [4] Financial Performance - The expected net profit loss for 2025 is between 37 million and 52 million yuan, compared to a loss of 36.94 million yuan in the same period last year [4] - The expected non-recurring net profit loss is projected to be between 45 million and 62 million yuan, compared to a loss of 43.58 million yuan in the previous year [4] - Basic earnings per share are estimated to be between -0.0666 yuan and -0.0936 yuan [4] Valuation Metrics - The company's price-to-book ratio (LF) is approximately 3.57 times, and the price-to-sales ratio (TTM) is about 2.43 times based on the latest closing price [4] - Historical price-to-earnings ratio trends indicate significant fluctuations, with the company experiencing negative earnings in recent years [5][6][19] Business Operations - The primary business activities of the company include the production and sale of frozen fish and meat products, frozen rice and noodle products, frozen dishes, and ambient fish and meat products [13] - The anticipated performance decline is attributed to several factors, including the ramp-up phase of its subsidiary Fujian Changheng Food Co., Ltd., which began production in the second half of 2024, leading to high fixed cost amortization [13] - The company is also investing in channel development and brand promotion, while new product categories have not yet achieved expected sales volumes [13]

Core Viewpoint - The company, New Emerging Equipment (002933), has announced its earnings forecast for 2025, projecting a net profit attributable to shareholders of between 32 million to 47.5 million yuan, representing a year-on-year growth of 69.32% to 151.34% [4] Financial Performance - The expected non-recurring net profit for 2025 is estimated to be between 9.5 million to 14 million yuan, a significant recovery from a loss of 472,100 yuan in the previous year [4] - Basic earnings per share are projected to be between 0.27 yuan and 0.4 yuan [4] - The impact of non-recurring gains on net profit is anticipated to be between 22.5 million to 33.5 million yuan, primarily due to changes in the fair value of financial assets and equity investments held by the company [15] Valuation Metrics - As of January 30, the company's price-to-earnings (P/E) ratio (TTM) is approximately between 86.2 and 127.95 times, with a price-to-book (P/B) ratio (LF) of about 2.68 times and a price-to-sales (P/S) ratio (TTM) of around 10.13 times [4] - Historical P/E ratios indicate fluctuations in the company's valuation over recent years, reflecting market sentiment and performance [5][6] Business Overview - The company specializes in the research, development, production, and sales of aviation equipment products centered around servo control technology [15]

（文章来源：中国证券报·中证金牛座） 其中，一家不愿具名的企业负责人对记者表示："公司产品供不应求，产销正常，现在没有什么库存。" 上海钢联数据显示，2025年下半年以来，电池级碳酸锂价格持续上涨，从7万元/吨左右一度涨至17万 元/吨左右。 业内人士表示，碳酸锂价格的回暖，有望带动拥有自有矿和盐湖的生产企业业绩修复。 1月30日，锂矿板块大跌，截至14:40，锂矿板块跌超6%，西部矿业、中矿资源、天齐锂业等跌超7%。 对此，赣锋锂业、雅化集团等多家锂矿企业回应中国证券报·中证金牛座记者称，公司生产经营一切正 常。 ...

Core Viewpoint - The company Dingjide (603255) expects a significant turnaround in its financial performance for the year 2025, projecting a net profit attributable to shareholders between 8.63 million and 12.95 million yuan, compared to a loss of 12.13 million yuan in the previous year [4]. Financial Performance - The projected net profit for 2025 is between 8.63 million and 12.95 million yuan, while the expected non-recurring net profit ranges from 6.89 million to 10.33 million yuan, both showing a recovery from previous losses [4]. - The company's current price-to-earnings (P/E) ratio (TTM) is approximately between 341.76 and 512.65 times, with a price-to-book (P/B) ratio of about 2.79 times and a price-to-sales (P/S) ratio of around 5.21 times [4]. Business Operations - The company specializes in the research, production, and sales of polymer material chemical additives, single agents, and catalysts [15]. - The improvement in performance is attributed to leveraging core product advantages, enhancing marketing efforts, and optimizing product structure and sales area, which effectively boosted overall sales revenue [15]. - The successful launch of the high-end new material project (POE) has provided new support for the company's overall profitability [16].

Core Viewpoint - The company, Zhongzheng Intelligent Education, forecasts a net loss of 60 million to 85 million yuan for the year 2025, an improvement from a loss of 104 million yuan in the previous year [4]. Financial Performance - The expected net profit loss for 2025 is between 60 million and 85 million yuan, while the non-recurring net profit loss is projected to be between 65 million and 90 million yuan, compared to a loss of 105 million yuan in the previous year [4]. - The company's price-to-book ratio (LF) is approximately 6.41 times, and the price-to-sales ratio (TTM) is about 9.68 times based on the latest closing price [4]. Industry Context - The company has been engaged in educational information services for many years, starting with family-school interaction services in basic education and expanding into various fields including family education and continuing education for teachers [11]. - The company has faced challenges due to industry policies, intensified market competition, tight customer budgets, and declining demand, leading to a reduction in revenue from continuing education, family-school interaction upgrades, and educational information services [11]. - The company has proactively raised the selection criteria for some of its businesses, resulting in the abandonment of certain business opportunities to ensure stable cash flow and maintain operations [11]. Accounts Receivable Management - The company has seen an increase in the aging of other receivables due to some customers' payment capabilities, leading to significant credit impairment provisions [11]. - As of now, there are still 60.8583 million yuan in receivables that have not been recovered after the government reclaimed land in 2022, with a credit impairment provision of 12.1717 million yuan made this period [11]. - The company has intensified its management and collection efforts for accounts receivable, resulting in a year-on-year decrease in the ending balance of accounts receivable and a significant reduction in credit impairment provisions compared to the previous year [11]. Non-Recurring Gains - The impact of non-recurring gains and losses on net profit for the reporting period is expected to be around 5 million yuan, primarily from government subsidies, financial product income, and fixed asset disposals [12].