锚定"全球一流现代化创新城区" 南山区区长李小宁作政府工作报告时表示，南山经济体量相比"十三五"期末的6527亿元，5年跨上4个千 亿级台阶，年均增长率5.8%以上。 1月27日，深圳市南山区八届人大六次会议开幕。据会议透露，2025年该地区生产总值突破1万亿元，地 均GDP达54亿元/平方公里，人均GDP超54万元，南山区成为我国首个GDP过万亿元的地市辖区。 战略新兴产业和 未来产业占比近六成 据悉，目前，南山区战略性新兴产业和未来产业占比近60%，人工智能规模以上企业超1300家，低空经 济落地全国首个省级低空领域制造业创新中心，新材料企业超百家。 资本市场上，南山上市公司阵营群星璀璨，该区目前共有218家上市公司，上市公司密度位居全国第 一。 在南山科技园，这里集聚了腾讯、大疆等大型科技企业总部，拥有6家软件百强企业、7家互联网百强企 业。数据显示，2025年南山区软件和互联网产业营收超9000亿元，持续巩固产业集聚发展优势。 在机器人等前沿产业赛道，南山区也一马当先。地处阳台山南部余脉和塘朗山之间的南山谷地，是知名 的"机器人谷"。这里诞生了被称为"人形机器人第一股"的优必选、"协作机器人第一股"的 ...

Group 1 - The market showed a rebound on January 27, with all three major indices turning positive, driven by the semiconductor industry chain, leading to a rise in semiconductor-related ETFs, with many increasing by over 3% [1][4] - The top ten ETFs by net inflow on January 26 included three gold-related ETFs, which collectively attracted nearly 3.5 billion yuan [3][8] - The semiconductor-related ETFs dominated the market, with nine out of the top ten ETFs by growth being semiconductor-related, supported by rising expectations for memory chip price increases and ongoing demand for AI computing power [4][5] Group 2 - The total trading volume of ETFs reached 538.918 billion yuan on January 27, with ten ETFs exceeding 10 billion yuan in trading volume, although there was a decrease in trading volume compared to the previous day [6][7] - The gold-related ETFs continued to attract significant capital, with three gold ETFs among the top ten by net inflow, indicating strong investor interest in this sector [8][10] - The market is expected to shift towards emphasizing industry trends and profit certainty, with a focus on sectors like semiconductor storage, overseas computing power chains, and innovative pharmaceuticals, as earnings reports begin to be released [11]

Core Viewpoint - The article discusses the impending maturity of over 50 trillion yuan in long-term deposits by 2026, prompting investors to seek alternatives for stable returns beyond traditional bank deposits [1] Group 1: Investment Alternatives - Low-volatility public funds are expected to attract funds moving away from deposits [2] - Options include money market funds and short-term bond funds, which offer better liquidity and expected returns than current savings accounts [3] - "Fixed income +" funds, which include secondary bond funds and mixed bond funds, aim for excess returns by participating in equities or convertible bonds [3] - Low-volatility multi-asset products, such as low-volatility target risk funds in public fund of funds (FOF), are suitable for conservative investors seeking stable returns [3] Group 2: Performance Benchmarks - Fund performance benchmarks are multi-asset, weighted calculations, while bank wealth management benchmarks are typically a fixed value or range [4] - The fund benchmark serves to clarify risk-return sources and helps investors understand strategy logic, while also providing clear investment boundaries for fund managers [4] Group 3: Fund Types and Investor Profiles - "Fixed income +" is seen as an upgraded version of wealth management, with 70%-90% of assets in fixed income and 10%-30% in equities or alternative assets [5] - FOFs are designed to reduce risk through diversification by investing in a basket of funds, suitable for investors seeking a one-stop management solution [5] - Conservative investors are recommended to start with low-volatility FOFs and gradually increase equity exposure based on risk tolerance [6] Group 4: Expected Returns - In 2025, secondary bond funds in the "fixed income +" category are projected to yield an average return of 5.6% with a maximum drawdown of 1.6% [7] - Mixed bond funds are expected to have an average return of 6.5% with a maximum drawdown of 2.3% [7] - Convertible bond funds are anticipated to perform well, with a projected index increase of 21% in 2025 [7] Group 5: Market Dynamics - The occurrence of purchase limits on some "fixed income +" and FOF products indicates high demand but does not guarantee future performance [8] - Investors are advised to align their choices with their risk tolerance rather than following market trends blindly [8] Group 6: Advice for New Investors - New investors should only use idle funds for investment, set stop-loss limits, and avoid blindly following popular investment strategies [9] - Emphasizing a contrarian investment approach, investors are encouraged to buy during market panic and remain calm during optimistic market conditions [9]

Core Viewpoint - The company, Zhongzheng Intelligent Finance (stock code: 301592), has announced its earnings forecast for 2025, predicting a significant decline in net profit and adjusted net profit compared to the previous year [4]. Financial Performance - The company expects a net profit attributable to shareholders of between 39 million and 58 million yuan for 2025, representing a year-on-year decline of 40.48% to 59.97% [4]. - The forecast for adjusted net profit is between 37 million and 55 million yuan, indicating a year-on-year decrease of 44.31% to 62.54% [4]. - As of January 27, the company's price-to-earnings ratio (TTM) is approximately 152.91 to 227.41 times, with a price-to-book ratio (LF) of about 10.12 times and a price-to-sales ratio (TTM) of around 17.5 times [4]. Historical Performance - The company's historical net profit and adjusted net profit figures show a downward trend, with the expected net profit for 2025 being significantly lower than previous years [15]. - The historical year-on-year growth rates for net profit and adjusted net profit have also shown fluctuations, with notable declines projected for 2025 [15]. Business Overview - The company primarily engages in the research and sales of military training equipment and special military equipment [14]. - The decline in revenue and profit is attributed to the underperformance of project implementation and delivery during the reporting period [14].

中证智能财讯中稀有色（600259）1月27日晚间披露2025年度业绩预告，预计2025年归母净利润1亿元至1.3亿元，上年同期亏损2.99亿元；扣非净利润预计 1.3亿元至1.6亿元，上年同期亏损3.12亿元。以1月27日收盘价计算，中稀有色目前市盈率（TTM）约为207.68倍-269.99倍，市净率（LF）约7.73倍，市销率 （TTM）约3.18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) 2,500 2337.6 2000 1,500 1,000 500 TT 8 SE 101,36 0 77668 64-0 -500 2020-12-37 2021-06-30 2021-12-37 r 市净率(LF)历史分位(%) 100 ହ୍ର ୨୦ 80 70 60 61027 50 48.4 42852 40 39x23 30 25.8 20 20.73 18:09 10 0 2020-12-37 1 2021-06-30 2021-12-37 <- 12-37 . 2n- 公司 -○- 行业均值 制图数据来自恒生聚源数据库 -○- 公司 -○- 行业 ...

Core Viewpoint - Xuguang Electronics (600353) expects a significant increase in net profit for 2025, projecting a growth of 51.25% to 65.89% year-on-year, with net profit attributable to shareholders estimated between 155 million to 170 million yuan [4] Financial Performance - The forecasted net profit for 2025 is between 155 million to 170 million yuan, with a year-on-year growth of 51.25% to 65.89% [4] - The projected non-recurring net profit is estimated to be between 112 million to 127 million yuan, reflecting a year-on-year increase of 30.12% to 47.55% [4] - As of January 27, the company's price-to-earnings ratio (TTM) is approximately 86.46 to 94.83 times, with a price-to-book ratio (LF) of about 7.86 times and a price-to-sales ratio (TTM) of around 8.92 times [4] Business Operations - The company has optimized its product structure, increasing the proportion of high value-added and high-margin products, which has enhanced its profitability [11] - The company reported a non-operating income of 38.49 million yuan from the transfer of a 32.55% stake in Chengdu Chuhan Technology Co., Ltd., contributing an additional 28.08 million yuan to the net profit attributable to shareholders after tax deductions [11] Historical Performance - Historical data indicates a steady increase in net profit and non-recurring net profit over the years, with projections for 2025 showing continued growth [12][13]

Core Viewpoint - Yunyinggu Technology Co., Ltd. has re-submitted its listing application to the Hong Kong Stock Exchange after its previous application expired, with a reported net loss of 195 million yuan for the first ten months of 2025 [1] Group 1: Company Overview - Yunyinggu, established in 2012 and headquartered in Shenzhen, focuses on the research and development of organic light-emitting diode (OLED) display driver chips, with products including AMOLED and Micro OLED chips for smartphones and smart head-mounted devices [2] - The company previously attempted to list on the STAR Market but withdrew its application in March 2023, and a planned acquisition by Huida Technology was terminated in March 2025 due to disagreements on transaction terms [2] Group 2: Customer Concentration - The top five customers accounted for significant revenue proportions, with sales figures of 439 million yuan, 655 million yuan, 804 million yuan, and 816 million yuan from 2022 to the first ten months of 2025, representing 79.6%, 91.0%, 90.2%, and 91.0% of total sales respectively [3] - The largest customer contributed sales of 150 million yuan, 348 million yuan, 483 million yuan, and 359 million yuan during the same period, making up 27.2%, 48.2%, 54.1%, and 40.0% of total sales [3] Group 3: Financial Performance - Yunyinggu has experienced continuous operating losses, with revenues of 551 million yuan, 720 million yuan, 891 million yuan, and 896 million yuan from 2022 to the first ten months of 2025, alongside net losses of 124 million yuan, 232 million yuan, 309 million yuan, and 195 million yuan [4] - The company attributes its losses to significant investments in the AMOLED driver chip business since 2018, which is still in the growth phase, and a competitive pricing strategy that has reduced gross margins [4] Group 4: Future Plans and R&D Investment - Yunyinggu plans to increase R&D investments, having spent 188 million yuan, 177 million yuan, 242 million yuan, and 225 million yuan on R&D from 2022 to the first ten months of 2025, representing 34.1%, 24.6%, 27.2%, and 25.3% of revenue respectively [5] - The funds raised from the IPO will primarily support the development of AMOLED touch and display driver integration chips, as well as Micro-OLED and Micro-LED driver backplane technologies, with some allocated for potential strategic investments or acquisitions [5]

Group 1: Market Performance - Precious metals, semiconductors, cultivated diamonds, and automotive chips showed significant gains, while sectors like aquaculture, animal vaccines, and coal mining experienced adjustments [2] - Notable individual stocks included Silver Nonferrous (601212) achieving a "6 consecutive limit up," and Aviation Power Technology (600391) hitting a "limit up" after a "7 days 4 boards" performance [2][3] - Semiconductor stocks surged, with Dongxin Co. reaching a "20CM" limit up and Huahong Semiconductor hitting a historical high with a price increase of over 9% [2][9] Group 2: Aviation Sector - The large aircraft concept strengthened in the afternoon, with Aviation Power Control (000738) hitting a limit up and Aviation Power Technology closing at 53.12 CNY per share, giving it a market value of 17.536 billion CNY [3][5] - Aviation Power Technology is a core enterprise under the China Aviation Power Group, specializing in the production of aircraft engine and gas turbine components, and is a strategic supplier for several international aviation companies [7] - The commercial aviation engine market in China is projected to exceed 2.6 trillion CNY over the next 20 years, with an estimated annual aftermarket value of around 100 billion CNY [8] Group 3: Semiconductor Sector - The semiconductor sector saw a rebound, particularly in storage chips and co-packaged optics, with stocks like Kangqiang Electronics (002119) and Huada Technology (002185) also hitting limit up [9][10] - Micron Technology announced a plan to invest an additional 24 billion USD in Singapore over the next decade to expand capacity in response to the AI-driven demand for storage chips [11] - The semiconductor industry is expected to experience significant growth due to the explosion in AI demand and supply-side contractions, with storage chip prices currently on the rise [12]

在产学研结合方面，方大炭素与清华大学、中南大学等高校在大规格电极、核石墨等产品领域开展合 作，推进多项技术的自主研发。其中，成型自动化、可调模具等技术的应用，使生产过程更加节能高 效，产品质量稳定性得到提高，减少了生产中对人工经验的依赖，相关技术曾获得行业奖项。 中证报中证网讯（记者 何昱璞）面对2025年国内炭素行业产品价格处于低位、市场竞争较为激烈的环 境，中国证券报记者近日从方大炭素了解到，公司围绕既定的战略目标，通过技术创新推进生产智能 化、绿色化与产业融合，其直径600mm及以上大规格超高功率电极产品性能表现良好，市场竞争力得 到提升，实现了技术进展与市场发展的协同推进。 方大炭素将科技创新作为发展的重要推动力，形成了以企业为主体、高校为支撑、跨领域合作的全链条 创新体系。在跨领域合作方面，公司与宁德时代保持战略协作，围绕高比能电池相关材料开展合作，通 过人员交流、设备共享与数据互通等方式，共同推进多孔碳孔径设计、石墨烯膜热导系数、固态电解质 离子电导率等方面的研究，目前固态电解质已在实验室阶段实现较高的稳定性，为碳基材料在新能源领 域的应用积累了经验；与晶泰科技共同建设智能研究院，开发适用于炭素行 ...

今天早盘，A股指数延续昨日跌势，创业板指、深证成指均一度跌超1%。10:02左右，三大股指集体拉升，创业板指、上证指数先后翻红。 指数拉升背后，"易中天"新易盛、中际旭创、天孚通信放量大涨，天孚通信一度涨超11%，这三只个股上午成交额均挤进A股前五，成为市场做多的重要 抓手。 北美算力链上午集体走强。其中，源杰科技涨超10%，盘中股价突破800元，创历史新高，上午收盘价为815.54元，为A股第三高价股，最新市值为700.94 亿元。 | | | | T | | --- | --- | --- | --- | | | | 11:29815.63 | 4 | | 636.96 | | -13.34% 11:29815.62 | 4 | | 09:30 | 11:30 | 15:00 11:29815.62 | 2 | 半导体产业链则是指数拉升的另一个推手，存储芯片和半导体设备板块领涨，精智达、强一股份等个股大涨。 截至上午收盘，上证指数上涨0.03%，深证成指下跌0.37%，创业板指上涨0.44%。 "易中天"大涨 今天上午，新易盛、中际旭创、天孚通信集体上涨，在其带动下，北美算力链走强，罗博特科、源杰科技、仕 ...