对于业绩变动的主要原因，安凯客车在公告中解释，主要是受市场竞争激烈影响，导致产品综合毛利率下降，同时公司专项计提存量未收回补贴减值损失， 双重因素共同导致了2025年度净利润出现亏损。 业绩预告披露的核心财务数据显示，2025年公司扣除非经常性损益后的净利润亏损幅度扩大，预计为9000万元-10000万元，上年同期该指标亏损5493.10万 元；基本每股收益预计为亏损0.05元-0.06元，上年同期为盈利0.01元。 值得注意的是，公司2025年营业收入实现同比增长，预计本期营业收入为340000万元-350000万元，上年同期营业收入为273515.42万元；扣除后营业收入预 计为330000万元-340000万元，上年同期为270002.70万元。 1月17日，安凯客车发布2025年度业绩预告，公告显示公司2025年经营业绩出现亏损，归属于上市公司股东的净利润预计亏损5000万元-6000万元，而上年同 期为盈利839.20万元。 ...

Core Viewpoint - The company, Changyuan Technology Group Co., Ltd. (ST Changyuan), is forecasting a significant net loss for the year 2025, with expected losses ranging from 1.45 billion to 1.08 billion yuan, indicating a deteriorating financial performance compared to the previous year [2]. Group 1: Financial Performance - The projected net profit attributable to shareholders for 2025 is expected to be between -1.45 billion and -1.08 billion yuan, with the net profit excluding non-recurring gains and losses estimated between -1.15 billion and -800 million yuan [2]. - In comparison, the company's total profit for 2024 was -945.32 million yuan, with a net profit attributable to shareholders of -978.10 million yuan, and a net profit excluding non-recurring gains and losses of -667.47 million yuan, resulting in an earnings per share of -0.74 yuan [2]. Group 2: Reasons for Expected Loss - The primary reasons for the anticipated losses in 2025 include both operational and non-operational factors. The company's main business focuses on smart grid equipment and energy internet technology services, with revenue expected to remain stable compared to the previous year [3]. - The company plans to recognize impairment losses on goodwill and asset groups related to the acquisition of Zhuhai Yuntai Li, due to indications of goodwill impairment. The impairment and fair value loss on related assets are estimated to be between 600 million and 850 million yuan, subject to confirmation by auditing and evaluation agencies [3]. - Non-operational losses are expected to increase, with a projected decrease in investment income of approximately 400 million yuan compared to the previous year, primarily due to a loss of about 282 million yuan from the sale of a 25% stake in Changyuan Electronics [3]. Group 3: Legal Risks - The company has been notified of a civil lawsuit filed by its major shareholder, Zhuhai Gree Financial Investment Management Co., Ltd., and its concerted party, Zhuhai Free Trade Zone Jinnuo Xintai Trading Co., Ltd., regarding securities false statement liability, with an involved amount of approximately 413 million yuan. The impact of this lawsuit on the company's net profit for 2025 remains highly uncertain [4].

Core Viewpoint - Aiwai Electronics forecasts a net profit attributable to shareholders of 300 million to 330 million yuan for 2025, representing a year-on-year increase of 17.7% to 29.47% [2] Group 1: Financial Performance - The expected net profit after deducting non-recurring gains is projected to be between 200 million and 230 million yuan, an increase of 27.97% to 47.17% compared to the previous year [2] - The comprehensive gross margin for 2025 is anticipated to exceed 35%, an improvement of approximately 5 percentage points from the previous year [3] Group 2: Growth Drivers - The company attributes its growth to a focus on long-term value creation, strategic focus, structural optimization, and operational efficiency in a complex market environment [2] - Aiwai Electronics is deepening its engagement in high-performance mixed-signal chips, power management chips, and signal chain chips, leveraging platform technology advantages for product matrix upgrades [2] Group 3: Business Resilience and Strategy - The company demonstrates strong business resilience amid industry cyclicality, with consumer electronics as a core foundation, driven by technological upgrades and deep customer engagement [3] - Aiwai Electronics is accelerating its layout in industrial interconnect and automotive electronics, targeting new growth points in smart electric vehicles and industrial automation [3] Group 4: Cost Management and Financial Health - The company adheres to a "lean cost control and efficiency enhancement" strategy, increasing R&D investment in strategic areas while controlling management expenses [3] - Aiwai Electronics maintains a high and stable operating net cash flow and a reasonable asset-liability structure, providing a solid foundation for high-quality development [3]

Core Viewpoint - Jilin Huamei Electronics Co., Ltd. (*ST Huamei) forecasts a significant increase in its financial performance for the year 2025, with expected profits and revenues showing substantial growth compared to the previous year [2][3] Financial Performance Summary - The company anticipates a total profit of between 166 million to 199 million yuan for 2025, with net profit attributable to shareholders expected to be between 145 million to 175 million yuan [2] - The projected operating revenue for 2025 is between 2.21 billion to 2.3 billion yuan, with core operating revenue (excluding unrelated business income) expected to be between 2.19 billion to 2.28 billion yuan [2] - By the end of 2025, the net assets attributable to shareholders are expected to be between 3.43 billion to 3.55 billion yuan [2] - In comparison, the company reported a total profit of 139.46 million yuan and a net profit of 127.73 million yuan for 2024, indicating a positive growth trajectory for 2025 [2] Operational Improvements - The company attributes its performance increase to enhanced operational management efficiency, improved customer communication, and service responsiveness, which have collectively boosted customer satisfaction and overall competitiveness [3] - These improvements have led to an increase in sales orders and revenue, contributing to the rise in net profit compared to the previous year [3]

纳思达表示，本次业绩预告数据仅为初步核算结果，具体财务数据将以公司正式披露的经审计后的2025年年度报告为准。 公告显示，本期业绩变动主要受重大资产出售、行业政策调整等因素影响。其中，重大资产出售事项预计对公司财务报表产生显著影响，而行业相关政策调 整亦对部分业务板块的经营环境带来阶段性压力。 1月16日，纳思达发布2025年度业绩预告，经公司财务部门初步测算，预计本年度归属于上市公司股东的净利润为负值，公司2025年度经营业绩将出现亏 损。 ...

1月16日，据证监会官网披露，爱科微科技（上海）股份有限公司（以下简称"爱科微"）已提交首次公开发行股票并上市辅导备 案报告，辅导机构为中信建投证券。 此次启动上市辅导，标志着爱科微在发展道路上迈出重要一步。随着5G、物联网等技术的快速发展，无线通讯芯片市场需求持 续增长，爱科微后续发展值得关注。 在技术成果方面，爱科微自主研发的WiFi6芯片已完成量产，并已获得相关认证，成为国内无线通讯领域首颗实现量产认证的 WiFi6芯片。公司表示，将在国家政策支持下，力争成为中国乃至全球通信连接领域的前沿科技创新企业。 融资历程显示，爱科微已获得光速创投、华登国际、IDG资本、智路资本、英特尔资本、华创资本和小米集团等多家知名投资 机构的多轮投资。截至2025年，公司已完成D+轮融资。 公开信息显示，爱科微成立于2018年，总部位于上海张江高科技园区，在北京、上海、深圳、成都等多地设有研发中心。公司 专注于无线通讯领域高尖端芯片设计，致力于成为高效、先进、创新的国内领先半导体企业，其科研团队由具备丰富国内外创 业经验的顶尖科技人才组成。 ...

对于业绩预减的主要原因，伟时电子表示，公司为保持行业技术领先而加大研发投入，导致利润承压； 子公司新建生产线的产能利用率处于爬升阶段，固定成本未能充分摊薄，影响了毛利率与营业利润；汇 率变动对利润影响方向发生逆转，较大程度拉低本期利润总额。 1月16日，伟时电子（605218）发布公告，公司预计2025年归母净利润为2149万元到2616万元，与上年 同期相比，预计减少3449万元到2982万元，同比减少61.61%到53.27%。扣除非经常性损益事项后，预 计归母净利润为837万元到1240万元，预计减少3816万元到3413万元，同比减少82.01%到73.35%。 ...

Core Viewpoint - In 2025, the company achieved a total operating revenue of 4.968 billion yuan, representing a year-on-year increase of 4.98%, and a net profit attributable to shareholders of 1.06 billion yuan, with a growth rate of 17.85% [1][3]. Financial Performance - Total operating revenue reached 4.968 billion yuan, up from 4.696 billion yuan in the previous year, marking a 4.98% increase [3]. - Operating profit was 1.344 billion yuan, compared to 1.142 billion yuan last year, reflecting an 18.62% increase [3]. - Total profit amounted to 1.344 billion yuan, an increase from 1.140 billion yuan, showing an 18.72% growth [3]. - Net profit attributable to shareholders was 1.061 billion yuan, up from 907.78 million yuan, with a year-on-year growth of 17.85% [3]. - The basic earnings per share were 1.07 yuan, compared to 0.92 yuan in the previous year, indicating a 17.58% increase [3]. Asset and Equity Growth - As of the end of the reporting period, total assets reached 14.004 billion yuan, a 38.52% increase year-on-year [4]. - Shareholders' equity attributable to the company was 7.833 billion yuan, up 10.61% from the previous year [4]. - The company's net asset per share was 7.81 yuan, compared to 7.04 yuan last year, reflecting a 10.62% increase [3]. Strategic Focus - The company emphasized high-quality development, focusing on technological innovation and the transformation of results, with a net profit of 1.006 billion yuan after deducting non-recurring gains, representing a 15.77% increase [3]. - The weighted average return on net assets after deductions was 13.57%, indicating a continuous enhancement in profitability [3]. - The performance report included the impact of mergers under common control, specifically the acquisition of 100% equity in Zhongren Internet of Vehicles, which further improved the business layout [4].

Core Viewpoint - The report from CITIC Securities indicates that Wuxi Jingyuan Microelectronics Co., Ltd. (Jingyuan Micro) has maintained stable operations during its IPO guidance period, signaling positive market sentiment and reinforcing its robust business fundamentals [1]. Company Overview - Jingyuan Micro, established in 2003, specializes in the design, testing, and sales of high-performance analog and mixed-signal integrated circuits, as well as special discrete devices, with products including power management chips and signal chain chips [3]. - The company has a registered capital of approximately 51.07 million RMB, with its chairman and general manager, Zhu Weimin, holding a 25.37% stake [3]. Business Performance - As of October 2023, Jingyuan Micro reported annual sales exceeding 800 million RMB and R&D investment of 48 million RMB, with over 40 new designs launched annually [6]. - The company has a strong R&D team of nearly 200 employees, with over 70% dedicated to research and development, and possesses product design capabilities across multiple process platforms [6]. Market Position - Jingyuan Micro is positioned to benefit from the ongoing domestic substitution process in the semiconductor industry, leveraging its mature technology team, diverse product matrix, and stable customer partnerships [1][10]. - The global analog chip market is projected to reach $82.5 billion by 2025, with China accounting for over 30% of this market, approximately $27 billion [10]. Competitive Landscape - The global analog chip market is dominated by major players like TI and ADI, which hold over 90% of the market share, creating a challenging competitive environment for Jingyuan Micro [10]. - The company aims to avoid competition in the general-purpose product segment and instead focus on high-end niche markets, enhancing its competitive edge [10]. Strategic Development - To address industry challenges, Jingyuan Micro plans to increase R&D investment, focus on high-performance products in automotive electronics and industrial control, and strengthen collaborations with local wafer manufacturers and packaging/testing companies [11]. - The company is also set to capitalize on its IPO process to expand capacity and market investment, optimizing its customer structure and increasing market share in high-end segments [11].

1月15日-16日，天际股份接连披露重要公告，一方面发布2025年年度业绩预告，宣布公司实现扭亏为盈；另一方面收到深圳证券 交易所监管函，因多项违规行为被监管警示。 2025年业绩扭亏为盈，核心产品涨价成关键驱动力 1月16日，天际股份发布2025年年度业绩预告，公告显示，公司业绩预告期间为2025年1月1日至12月31日，预计经营业绩实现扭 亏为盈。其中，归属于上市公司股东的净利润预计盈利7000万元至10500万元，上年同期为亏损136088.46万元；扣除非经常性损 益后的净利润预计盈利6000万元至9000万元，上年同期为亏损137304.70万元；基本每股收益预计盈利0.14元/股至0.21元/股，上 年同期为亏损2.71元/股。 对于业绩变动原因，公司表示，受新能源汽车市场和储能市场需求快速增长影响，公司主要产品六氟磷酸锂在2025年第四季度销 售价格上涨，盈利能力恢复，第四季度实现的利润弥补了前三季度亏损，助力公司全年扭亏为盈。不过，公司依约执行部分长协 低价订单，在一定程度上影响了盈利水平。 此外，公司子公司常熟新特化工有限公司的主要产品次磷酸钠，其市场行情在2025年第四季度好转，销售价格上 ...