)- 公司 -○- 行业均值 制图数据来自恒生聚源数据库 中证智能财讯兆丰股份（300695）1月30日晚间披露2025年度业绩预告，预计2025年归母净利润3.3亿元至3.7亿元，同比增长136.26%-164.89%；扣非净利润 预计9000万元-1.1亿元，同比下降10.09%-26.44%。以1月30日收盘价计算，兆丰股份目前市盈率（TTM）约为22.44倍-25.16倍，市净率（LF）约2.92倍，市 销率（TTM）约12.03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） 70 @ 60 50 40 33d 30 28.8 22d4 2284 21-92 20 18-4 10 0 2021-06-30 | 2021-12-37 1 202-06-30 | 2022-12-37 2020-12-37 4-06-30 5-12-37 203 公司 -{○- 行业均值 100 ହି ୨୦ 84-89 80 70 60 5842 55g13 52d8 50 40 30 204 20 10 0 2021-12-37 I 2020-12-37 1 2022- ...

中证智能财讯观想科技（301213）1月30日晚间披露2025年度业绩预告，预计2025年归母净利润1257.91万元至1811.4万元，上年同期亏损871.15万元；扣非 净利润预计1187.74万元至1741.22万元，上年同期亏损1511.11万元。以1月30日收盘价计算，观想科技目前市盈率（TTM）约为323.11倍-465.28倍，市净率 （LF）约7.46倍，市销率（TTM）约37.66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） 1,500 19000 500 230.38 280.14 -231.26 161.43 0 -500 -838.04 -1,000 -1,500 -1824.69 -2,000 209259 -2,500 -09-30 4-03-30 3-12-30 n - 公司 -○- 行业均值 制图数据来自恒生聚源数据库 市盈率(TTM)历史分位(%) 100 94.45 ହି 90 82:32 88.5 80 70 67-92 60 50 40 30 20 10 0 2n- 制图数据来自恒生聚源数据库 市净率(LF)历史分位 ...

Core Viewpoint - The company Zhongke Weizhi (688211) has announced its performance forecast for 2025, expecting revenue between 2.35 billion to 2.85 billion yuan, with a net loss attributable to shareholders ranging from 88 million to 130 million yuan, indicating a slight increase in losses compared to the previous year [4]. Financial Performance - The expected revenue for 2025 represents an increase compared to the previous year, but the gross margin is anticipated to decline due to market changes and intensified competition [15]. - The company forecasts a net profit attributable to shareholders of between -88 million to -130 million yuan, compared to a loss of 84.75 million yuan in the same period last year [4][16]. - The non-recurring net profit is expected to be between -105 million to -155 million yuan, compared to a loss of 133 million yuan in the previous year [4]. Valuation Metrics - As of the latest closing price, the company's price-to-book ratio (LF) is approximately 1.25 times, and the price-to-sales ratio (TTM) is about 1.62 times [4]. - Historical trends indicate that the company's price-to-earnings ratio (TTM) has fluctuated significantly over recent periods, reflecting the volatility in its financial performance [5][21]. Government Support and R&D - The decline in net profit is partly attributed to a reduction in various government subsidies received compared to the previous year, along with a decrease in non-recurring income [16]. - The company plans to enhance its technological and product development efforts, optimize cost reduction and efficiency measures, and strengthen its market competitiveness [15].

Group 1 - The company, Hengdian Film, expects a net profit attributable to shareholders of 130 million to 180 million yuan for the year 2025, compared to a loss of 96.3764 million yuan in the same period last year [4] - The expected net profit after deducting non-recurring gains and losses is projected to be between 62 million and 90 million yuan, up from a loss of 222.3 million yuan in the previous year [4] - As of January 30, the company's price-to-earnings ratio (TTM) is approximately 89.85 to 124.4 times, with a price-to-book ratio (LF) of about 12.59 times and a price-to-sales ratio (TTM) of around 7.19 times [4] Group 2 - The company's main business includes film investment, production, distribution, cinema operation, and related derivative businesses [14] - The performance improvement is attributed to the recovery of the industry, the success of popular films driving market growth, and the company's strengthened management and diversified operations [14] - The company has released several films, including "Boonie Bears: Rebooting the Future," "The Legend of the Condor Heroes: The Great Hero," and "The Volunteer Army: Bloodbath for Peace," and is preparing for future releases [14]

Core Viewpoint - The company has decided to voluntarily terminate its stock listing, providing cash options to shareholders, excluding specific entities, with a set exercise price for the cash option [2] Group 1: Shareholder Meeting and Decisions - On January 29, the company held a shareholder meeting where the resolution to terminate the stock listing was approved [2] - The resolution grants all A-shareholders, except for Suqian JD Zhuofeng Enterprise Management Co., Ltd. and its concerted party, the right to cash options based on their shareholdings as of the record date [2] Group 2: Cash Option Details - The closing price of the company's A-shares on January 20 was 18.85 yuan per share, while the exercise price for the cash option is set at 19 yuan per share [2] - The exercise period for the cash option is from February 9 to February 12, 2026, during which the company's stock and derivatives will be suspended from trading [2] - The cash option can be submitted through the Shanghai Stock Exchange trading system, and there will be no on-site submission option [2] Group 3: Stock Suspension and Delisting - The company's stock has been suspended from trading since January 21, 2026, and will be delisted within five trading days after the announcement of the termination decision by the Shanghai Stock Exchange [2]

Core Viewpoint - Company ST Chuangyi (300366) expects a net loss of 440 million to 540 million yuan for the year 2025, compared to a loss of 78.86 million yuan in the same period last year [4] Financial Performance - The expected net profit loss for 2025 is between 440 million and 540 million yuan, with a non-recurring net profit loss estimated at 434 million to 534 million yuan, compared to a loss of 386 million yuan in the previous year [4] - The company's price-to-book ratio (P/B) is approximately 2.48 times, and the price-to-sales ratio (P/S) is about 2.77 times based on the latest closing price [4] Reasons for Performance Change - The decline in revenue is attributed to tightened customer budgets and intensified industry competition, leading the company to reduce participation in high-capital projects [13] - The company has made provisions for impairment losses on various assets, including inventory and accounts receivable, based on a cautious approach [13] - Strategic investments in research and development by associated companies, such as Sichuan Chuangzhi Lianheng Technology Co., have negatively impacted the company's earnings for the reporting period [13] - Non-recurring gains and losses are expected to impact net profit by approximately -5.84 million yuan for 2025, compared to a positive impact of 30.75 million yuan in the previous year [13]

中证智能财讯大唐发电（601991）1月30日晚间披露2025年度业绩预告，预计2025年归母净利润68亿元至78亿元，同比增长51%-73%；扣非净利润预计72亿 元至82亿元，同比增长60%-82%。以1月30日收盘价计算，大唐发电目前市盈率（TTM）约为8.97倍-10.29倍，市净率（LF）约2.05倍，市销率（TTM）约 0.57倍。 公司 -○- 行业均值 制图数据来自恒生聚源数据库 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） 500 450.62 越 00 300 200 156.36 100 26,96 21o76 19654 निर्म 0 1-20 -100 2021-12-37 2021-06-30 ' 2022-12-37 : 2022-06-30 2020-12-37 13-06-30 4-06-30 023-12-37 2n- -○- 公司 -○- 行业均值 )- 公司 -○- 行业均值 制图数据来自恒生聚源数据库 100 993 ହ 90 80 70 60 50 40 3dros 30 24d2 20 15.88 10 0 202 ...

中证智能财讯海普瑞（002399）1月30日晚间披露2025年度业绩预告，预计2025年归母净利润2.84亿元至3.77亿元，同比下降41.71%-56.09%；扣非净利润预 计3.62亿元至4.6亿元，同比增长42.78%-81.43%；基本每股收益0.1936元/股-0.2569元/股。以1月30日收盘价计算，海普瑞目前市盈率（TTM）约为48.14 倍-63.91倍，市净率（LF）约1.47倍，市销率（TTM）约3.36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） 90 77.64 78.95 @ 60 43°Ca 32.29 30.12 30 =25:62 23d04 0 -18.31 -30 -60 -90 -120 2022-06-30 ' 2021-06-30 ' 2021-12-37 2020-12-37 2022-12-37 : 23-72-37 3-06-30 2n- -○- 公司 -○- 行业均值 100 ହ 90 85p26 84.96 80 70 60 56.46 50 40 37.57 32401 30 20 2020-12-3 ...

Core Viewpoint - The company Yi Da Co., Ltd. (300721) has announced a forecast for a net loss of 100 million to 120 million yuan for the year 2025, a significant decline from a profit of 9.53 million yuan in the same period last year [4]. Financial Performance - The expected net profit loss for 2025 is between 100 million to 120 million yuan, compared to a profit of 9.53 million yuan in the previous year [4]. - The expected non-recurring net profit loss is also between 100 million to 120 million yuan, down from a profit of 1.14 million yuan in the same period last year [4]. - The company's price-to-book ratio (LF) is approximately 2.56 times, and the price-to-sales ratio (TTM) is about 1.87 times based on the latest closing price [4]. Business Operations - The company primarily engages in the research, production, and sales of chemical products such as alcohol ethers, alcohol ether esters, hydrogen peroxide, and propylene oxide [13]. - Sales volume for alcohol ethers and alcohol ether esters has continued to grow, leading to increased capacity utilization and a decrease in unit product costs due to lower raw material prices [13]. - However, due to market competition, the sales prices of alcohol ethers and alcohol ether esters have decreased significantly, resulting in a notable decline in gross profit margins [13]. - In the fourth quarter, particularly in November 2025, the market price for propylene oxide showed signs of recovery, and the subsidiary Tai Xing Yi Da's production capacity utilization increased significantly [13]. - The company has implemented energy-saving upgrades and process optimizations, leading to a noticeable reduction in costs for propylene oxide [13]. Future Outlook - The production volume of hydrogen peroxide has slightly decreased, and its sales prices have also dropped, leading to a decline in gross profit margins [14]. - The company plans to accelerate the implementation of propylene (ethylene) derivatives projects while enhancing product quality and cost control to improve profitability and operational performance [14].

Group 1: Fiscal Revenue and Expenditure - In 2025, the total fiscal revenue is projected to be 21.6 trillion yuan, a decrease of 1.7% compared to 2024, with tax revenue increasing by 0.8% and non-tax revenue decreasing by 11.3% [2][3] - The securities transaction stamp duty revenue reached 203.5 billion yuan, showing a year-on-year growth of 57.8% [1] - The national government fund budget expenditure is expected to be 11.29 trillion yuan, an increase of 11.3% from 2024, driven by accelerated bond fund utilization [1][4] Group 2: Sector Performance - The equipment manufacturing and modern service industries showed strong tax revenue performance, with specific sectors like computer communication equipment manufacturing seeing a 13.5% increase in tax revenue [3][4] - The domestic value-added tax grew by 3.4%, while the domestic consumption tax increased by 2%, primarily driven by tobacco and refined oil [3] - Social security and employment, education, and health sectors received strong budgetary support, with expenditures in these areas growing by 6.7%, 3.2%, and 5.7% respectively [4] Group 3: Hainan Duty-Free Policy Impact - The duty-free shopping policy in Hainan has been optimized, allowing for a broader range of products and increased convenience for consumers, leading to a significant rise in duty-free sales [5][6] - Since the policy's implementation, duty-free sales reached 6.28 billion yuan, with a year-on-year increase of 35.9% [6] - The number of foreign investment enterprises in Hainan increased by 23.56%, indicating a growing interest in the region's economic potential [6]