Group 1 - The company expects a net loss attributable to shareholders of 250 million to 500 million yuan for the year 2025, compared to a loss of 470 million yuan in the same period last year [2] - The company's non-recurring net profit is projected to be a loss of 280 million to 560 million yuan, with the previous year's loss being 462 million yuan [2] - The basic earnings per share are estimated to be between -0.1451 yuan and -0.2901 yuan [2] Group 2 - The company's main business includes landscape engineering construction, landscape design, architectural design, seedling planting production, and landscape maintenance services, providing integrated services to clients [11] - The company's revenue and gross profit have declined due to intensified market competition and extended project settlement cycles [11] - The company plans to recognize impairment losses on accounts receivable, contract assets, and long-term receivables based on cautious principles, with specific amounts to be determined after audit [11]

Company Performance - The company, Tenglong Co., Ltd. (603158), expects to achieve operating revenue of 3.965 billion to 4.382 billion yuan in 2025, representing a year-on-year growth of 3.97% to 14.92% [4] - The net profit attributable to shareholders is projected to be between 46 million and 69 million yuan, indicating a significant decline of 72.38% to 81.59% year-on-year [4] - The expected net profit after deducting non-recurring gains and losses is estimated to be between 28.8 million and 51.8 million yuan, reflecting a decrease of 72.21% to 84.55% year-on-year [4] Valuation Metrics - As of January 30, the company's price-to-earnings (P/E) ratio (TTM) is approximately between 73.69 and 110.53 times, while the price-to-book (P/B) ratio (LF) is about 2.19 times, and the price-to-sales (P/S) ratio (TTM) is around 1.22 times [4] Business Overview - The company specializes in the research, development, production, and sales of automotive thermal management components and is recognized as a leading domestic automotive parts manufacturer [13] - The performance fluctuation is attributed to steady growth in the main business, increased industry competition, and the ramp-up period of new projects in Poland and Anhui, leading to higher fixed asset depreciation and a slight decline in gross margin [13] - The company has implemented various measures to improve profitability, including cost reduction in the supply chain and enhancing operational efficiency, which are gradually showing results [13]

1月30日，证监会就《公开募集证券投资基金信息披露内容与格式准则第2号—定期报告的内容与格式》 向社会公开征求意见，基金业协会同步就《证券投资基金信息披露XBRL模板》征求行业意见。 本次修订后，信息披露规则体系更加简明，信披内容更加突出"以投资者为本"的理念，监管导向上更加 偏重提升投资行为稳定性。 证监会将在本次XBRL模板中，要求基金管理人在年报中披露报告期内相关产品的股票换手率数据，强 化投资行为稳定性的信息揭示，督促基金管理人、基金经理形成更加审慎、理性的投资观念，纠治过于 激进的投资行为。 基金业协会将在本次XBRL模板中，要求管理人在年报、半年报、季报中新增产品过去7、10年中长期 业绩，不再披露过去1个月的业绩，引导行业更加注重"长期投资、价值投资"理念。 《准则》共3章36条，主要修订内容如下：一是对年度报告、半年度报告和季度报告中相同或相近的披 露事项进行整合。二是根据年度报告、半年度报告和季度报告不同功能定位，提出针对性、个性化披露 要求。三是根据上位法规要求及行业实践，借鉴境外成熟市场经验，简化、调整部分信息披露要求。四 是授权基金业协会根据《准则》及信息披露活动制订可拓展商业报告语言 ...

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，公司主营POCT试剂及仪器。 中证智能财讯安旭生物（688075）1月30日晚间披露2025年度业绩预告，预计2025年归母净利润7100万元至8500万元，同比下降55.8%-63.08%；扣非净利润 预计1300万元-1560万元，同比下降58.84%-65.7%。以1月30日收盘价计算，安旭生物目前市盈率（TTM）约为60.16倍-72.03倍，市净率（LF）约0.99倍，市 销率（TTM）约11.05倍。 此外，美国政府加征关税使得部分区域市场订单减少，公司承担部分关税导致营业成本上升，加上汇率波动引起汇兑损失、利息收入降低及资产折旧摊销等 多方面原因导致利润同比下滑。 指标注解： 据公告，公司业绩变动原因为， 报告期内，公司主营业务保持稳健发展，为巩固在产业领域内的长期竞争优势，公司保持原有几大技术平台的先进性之 外，持续加大对新技术平台的战略性投入，同时国内外市场及注册证书等拓展，海外分子公司的布局致使费用增加。 市盈率=总市值/净利润。当公司亏损时市盈率为负，此时用市盈率估值没有实际意义，往往用市净率或市销率做参考。 市 ...

Core Viewpoint - The company, Ruiqi Co., Ltd. (300126), has announced a significant expected loss for the year 2025, projecting a net loss attributable to shareholders between 46.54 million and 62.37 million yuan, compared to a loss of 19.26 million yuan in the same period last year [4]. Financial Performance - The expected net profit loss for 2025 is between 46.54 million yuan and 62.37 million yuan, with a previous year's loss of 19.26 million yuan [4]. - The expected non-recurring net profit loss ranges from 65.74 million yuan to 81.57 million yuan, compared to a loss of 40.88 million yuan in the previous year [4]. - The company's price-to-book ratio (LF) is approximately 2.59 times, and the price-to-sales ratio (TTM) is about 5.76 times based on the latest closing price [4]. Reasons for Performance Change - The significant changes in operating performance are primarily attributed to rising raw material prices, increased operating costs, and higher expenses, leading to a decline in overall gross profit margin [12]. - The impact of non-recurring gains and losses on net profit is approximately 19.19 million yuan, compared to 21.62 million yuan in the previous year [12]. Historical Financial Trends - Historical data indicates a trend of increasing losses over the years, with the projected net profit and non-recurring net profit for 2025 showing a continued decline [14]. - The year-on-year growth rates for net profit and non-recurring net profit have shown significant negative changes, indicating a challenging financial environment for the company [14].

中证智能财讯万达信息（300168）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19.5亿元至21.5亿元；归母净利润亏损5.25亿元至6亿元， 上年同期亏损6.86亿元；扣非净利润亏损5.9亿元至6.85亿元，上年同期亏损7.71亿元。以最新收盘价计算，市净率（LF）约7.89倍，市销率（TTM）约4.74 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，公司主要业务涵盖数智医卫、数智政务、数智金融三大领域，以ICT信息科技创新为公司整体软件解决方案基石，向健康管理、智慧城市方向延 伸发展。 据公告，1.报告期内，公司实现减亏，归属于上市公司股东的净利润同比提升约12%–23%。2.公司通过持续推进降本增效举措，使得人工成本及费用总体支 出规模同比下降，运营效率提升，但营业收入仍无法覆盖运营成本及固定费用开支，导致公司仍处于亏损状态。3.部分资产存在减值迹象，资产组未来经济 利益流入低于预期，部分存货成本高于其可变现净值，经初步评估商誉及存货减值规模约0.7–1.0亿元，较上年同期1.5亿元下降约33%–53%。4.报告期内， 公司预计实现非经常性损益 ...

Core Viewpoint - Company Zunming Co., Ltd. (003030) expects to achieve a revenue of 2 billion to 2.05 billion yuan in 2025, representing a year-on-year growth of 20.16% to 23.17%, and a net profit attributable to shareholders of 25 million to 32 million yuan, recovering from a loss of 25.1361 million yuan in the previous year [2] Financial Performance - The projected revenue for 2025 is between 2 billion and 2.05 billion yuan, indicating a growth rate of 20.16% to 23.17% compared to the previous year [2] - The expected net profit attributable to shareholders is between 25 million and 32 million yuan, a significant recovery from the previous year's loss of 25.1361 million yuan [2] - The company anticipates a non-recurring net profit loss of 36 million to 43 million yuan, compared to a loss of 23.2284 million yuan in the previous year [2] - Basic earnings per share are projected to be between 0.2 yuan and 0.26 yuan [2] Valuation Metrics - As of January 30, the company's price-to-earnings (P/E) ratio (TTM) is approximately 86.64 to 110.9 times, with a price-to-book (P/B) ratio of about 2.72 times and a price-to-sales (P/S) ratio of approximately 1.37 times [2] - The historical P/E ratio trends indicate fluctuations in the company's valuation over recent years [3][4][5][6][7][8][9] Business Operations - The company focuses on the research, production, and sales of soybean products [11] - The increase in net profit is attributed to the recognition of goodwill impairment and adjustments in equity transfer payments, as well as asset disposal gains from demolition compensation [11] - The company has actively expanded its sales market, resulting in a significant increase in product orders and production volume, with improved capacity utilization and gradually recovering profitability [11]

Group 1 - The company expects a net profit attributable to shareholders for 2025 to be between 92.03 million and 120 million yuan, representing a year-on-year growth of 21.1% to 57.32% [4] - The forecasted net profit after deducting non-recurring gains and losses is estimated to be between 101 million and 131 million yuan, indicating a year-on-year increase of 30.35% to 69.32% [4] - As of January 30, the company's price-to-earnings ratio (TTM) is approximately 84.61 to 109.91 times, with a price-to-book ratio (LF) of about 3.46 times and a price-to-sales ratio (TTM) of around 9.05 times [4] Group 2 - The company's main business operates under a dual model of "e-commerce full-service provider + new consumer brand accelerator," offering comprehensive e-commerce services to brands [8] - During the reporting period, the company actively promoted a strategy to enhance productivity through technology, utilizing AI agents to improve operational efficiency and collaborating with platforms like Alibaba to expand business types [8] - The online management services for brands have seen year-on-year growth, which has contributed to improved profitability, while cost control in online marketing and content e-commerce has supported overall performance growth [8]

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]