Core Viewpoint - Wanbangde's subsidiary has developed a new drug, "Shisuanjianma Controlled-release Tablets," for treating mild to moderate Alzheimer's disease, which has completed the enrollment of 100 subjects in its critical II/III phase clinical trial [1] Group 1: Drug Development - The new drug is characterized by a dual-phase controlled-release technology that stabilizes the drug release curve, prolongs the release time in the body, and aims to reduce adverse reactions while enhancing dosage safety [1] - The clinical trial is led by the Capital Medical University Xuanwu Hospital, with Professor Jia Jianping, a leading expert in the field of neurology, overseeing the project in collaboration with over 50 top research centers nationwide [1] Group 2: Research and Collaboration - The drug has been selected for the National Science and Technology Major Project for Innovative Drug Development, highlighting its significance in utilizing local resources, as its active ingredient is derived from the traditional Chinese medicinal plant, Qianshengtang (Sarcandra glabra) [1] - Wanbangde is steadily advancing the subject enrollment process and will continue close collaboration with Xuanwu Hospital and other research institutions to further validate the drug's safety and efficacy, providing critical data support for future market application [1]

Company Summary - The company, GoerTek, announced an adjustment to its share repurchase plan, increasing the total repurchase fund from a minimum of 500 million yuan to a minimum of 1 billion yuan, while maintaining other terms unchanged [1] - As of January 31, 2026, GoerTek has repurchased 34.497 million shares, accounting for 0.97% of the total share capital, with a total payment of approximately 950 million yuan, nearing the original repurchase fund limit [1] - The increase in repurchase funds reflects the company's confidence in its development prospects and recognition of its intrinsic value, without significantly impacting daily operations, R&D investment, or cash flow [2] Financial Performance - For the first three quarters of 2025, GoerTek achieved total operating revenue of 68.107 billion yuan, a slight decrease of 2.21% year-on-year, while net profit attributable to shareholders increased by 10.33% to 2.587 billion yuan [2] - The gross profit margin improved to 13.19% in the third quarter, indicating a steady enhancement in profitability [2] Industry Context - The consumer electronics industry is transitioning from cyclical recovery to growth resonance, with a focus on destocking and asset optimization in 2024-2025 [3] - Starting in 2026, the emergence of new fields such as AI terminals and spatial computing is expected to lead to structural reshaping of the industry [3] - GoerTek, as a leader in precision manufacturing and smart hardware, is well-positioned to seize opportunities in XR devices and acoustic components, which are anticipated to see increased demand [3]

友发集团（601686）近日发布2025年业绩预增公告，公司预计2025年实现归属于公司股东的净利润为 6.46亿元到7.06亿元，同比增长52.11%到66.23%；预计实现归属于公司股东的扣除非经常性损益的净利 润4.33亿元到4.93亿元，同比增长35.24%到53.98%。 友发集团介绍，2025年公司钢管产销规模同比略有增长，销售钢管的毛利率约为3.25%，同比增长0.4个 百分点。 此外，公司全资子公司唐山友发新型建筑器材有限公司作为有限合伙人出资2000万元，与专业投资机构 共同投资了"天津砺思星沐创业投资基金合伙企业（有限合伙）"（以下简称"砺思星沐基金"），占砺思 星沐基金认缴出资总额的4.9875%。砺思星沐基金对沐曦集成电路（上海）股份有限公司（以下简 称"沐曦股份"）进行了相应投资，故公司间接持有34.17万股沐曦股份。本报告期非经常性损益较上年 有大幅增长，主要为投资沐曦股份产生的公允价值变动收益（按照沐曦股份2025年12月31日收盘价以及 流动性折价等因素综合计算，公司确认投资沐曦股份的公允价值变动收益约为1.1亿元），导致公司 2025年度实现归属于母公司所有者的净利润较上年大 ...

久日新材近日发布的2025年业绩预告显示，预计2025年公司实现归属于母公司所有者的净利润为 2100.00万元到3150.00万元，扭亏为盈。预计2025年实现归属于母公司所有者扣除非经常性损益后的净 利润为1440.00万元到2160.00万元。 转自：中国证券报·中证网 久日新材表示，2025年，公司部分主要光引发剂产品的价格有所回升，同时，公司持续推动降本增效， 整体销售毛利较去年同期增加。此外，参与设立的天津市瑞武股权投资基金合伙企业（有限合伙）（以 下简称瑞武基金）投资的厦门恒坤新材料科技股份有限公司于2025年11月18日在上海证券交易所科创板 上市，瑞武基金净利润大幅增加，使公司相应的投资收益增加。（王珞） ...

Core Viewpoint - The company, Changrong Co., Ltd., forecasts a significant increase in net profit for 2025, indicating strong operational performance and effective market strategies [1] Financial Performance - The projected net profit attributable to shareholders for 2025 is estimated to be between 17.41 million yuan and 26.11 million yuan, representing a year-on-year growth of 38.07% to 107.10% [1] - The expected net profit after deducting non-recurring gains and losses is forecasted to be between 13.67 million yuan and 20.50 million yuan, showing a substantial increase of 389.07% to 633.61% year-on-year [1] Business Development - The company reports steady development in its main business, with continuous improvement in overall operational quality [1] - Changrong Co., Ltd. has actively responded to changes in the market environment, steadily advancing business expansion and optimizing product structure, leading to stable revenue growth [1] - The overseas sales business is experiencing positive momentum, effectively enhancing the company's profit levels [1] - Strategic partnerships with overseas collaborators have contributed to a steady increase in overseas sales revenue [1] - The establishment of self-built overseas sales channels has also shown promising development, earning positive customer feedback [1]

报告期内，沈阳机床成功实施重大资产重组，中捷厂、中捷航空航天及天津天锻三家企业于2025年6月 30日正式并入上市公司体系。根据会计准则，这三家公司合并日前的当期净损益被计入非经常性损益。 这一重大整合，短期内影响了公司合并报表的净利润表现，但长期看则是公司构建"数控加工+压力成 形"完整解决方案能力的关键一步，为未来持续盈利奠定了坚实的产业基础。 总体看，2025年是"十四五"规划收官之年，也是沈阳机床深化战略布局、夯实发展基础的关键一年。通 过成功整合天津天锻、中捷航空航天等优质资产，沈阳机床产品体系得以优化，综合服务能力实现跨 越，为面向更广阔的高端装备市场提供完整解决方案。 相关市场人士表示，沈阳机床采取一系列扎实有效的措施，根本目的在于实现竞争实力与盈利能力持续 跃升。当前的阶段性财务表现，是公司主动推进战略性重组、夯实长远发展基础过程中结构优化与动能 转换的客观反映。从2025年上半年经营业绩创出历史新高到全年持续推进结构调整与内部改革，沈阳机 床的发展展现出了公司在高端装备领域稳中求进的战略韧性。 值得关注的是，面对外部环境挑战，沈阳机床并未收缩战线，而是通过战略聚焦与内生动力培育，着力 构建穿 ...

Core Viewpoint - Dongfeng Motor aims to accelerate its transformation towards "intelligent, green, and integrated" strategies, targeting total sales of 3.25 million vehicles in 2026, including 1.7 million new energy vehicles and 600,000 exports [1] Group 1: Sales Targets - The company has set a goal of achieving overall sales of 3.25 million vehicles in 2026 [1] - New energy vehicle sales are targeted at 1.7 million units [1] - Export targets are set at 600,000 vehicles [1] Group 2: Technological Advancements - Dongfeng Motor plans to transition from "paper" technology to "ground" implementation, marking 2026 as the "year of technology realization" [1] - The new generation of Mahle power systems and high-performance DF30 chips will be scaled for deployment [1] - The "Tianyuan Intelligent" system will accelerate its rollout, with the T200 intelligent driving system being widely adopted and T500 entering mass production [1] Group 3: Brand Strategy - The company aims to shift its brand perception from "visibility" to "recognition" by deepening the "One Dongfeng" strategy [1] - The jointly created brand "Yijing" with Huawei is set to make its global debut in March [1]

中际旭创在此前接受调研时表示，从产品角度来看，2025年一季度起800G订单需求持续释放，三季度 重点客户开始部署1.6T并持续增加订单，预计2026年-2027年其他重点客户也将大规模部署1.6T。随着 算力和AI数据中心硬件需求的增长，行业需求呈现高景气度，2026年大客户需求指引明确，公司将全 力准备、把握产业机会，推动营收与利润规模再上台阶。 同时，中际旭创在报告期内确认投资收益及公允价值变动损益，带来归母净利润增加约2.96亿元，其中 约4800万元投资收益计入非经常性损益事项。 中证报中证网讯(记者孟培嘉)中际旭创（300308）1月30日晚披露的2025年度业绩预告显示，公司2025 年预计实现归母净利润98亿元至118亿元，同比增长89.50%至128.17%；扣非净利润预计为97亿元至117 亿元，同比增长91.38%至130.84%；扣除股权激励费用前，光模块业务实现合并净利润约108亿元至131 亿元，同比增长90.81%至131.44%。 对于业绩变动原因，中际旭创表示，报告期内，受益于终端客户对算力基础设施的强劲投入，公司产品 出货较快增长，其中高速光模块占比持续提高，且随着产品方案 ...

零跑汽车本次获得的"AA"评级，在全球汽车制造行业中位列前29%，持续领跑中国新能源汽车企业可 持续发展实践。此项成就主要得益于零跑汽车在企业治理体系建设、清洁技术创新发展潜力、产品全生 命周期碳足迹管控等行业关键议题上的卓越表现与持续突破。 中国证券报记者注意到，2025年零跑汽车实现全年销量近60万辆，稳居中国造车新势力首位，并创新势 力年销量新纪录。全球渠道网点超过1800家，其中海外超800家，已进入全球35个国家和地区。更关键 的是，零跑已实现连续季度盈利，企业经营步入高质量、可持续发展轨道。 转自：中国证券报·中证网 中证报中证网讯（记者 龚梦泽）近日，国际权威评级机构摩根士丹利资本国际公司（MSCI）公布最新 ESG评级结果。零跑汽车凭借在环境、社会及公司治理（ESG）领域的扎实实践与长期投入，再度获 评"AA"级。这也是零跑汽车连续第三年获此评级，标志着公司在可持续发展领域的领先地位与长期承 诺持续获得国际认可。 ...

中国汽车工业协会专务副秘书长魏文清在研讨会上表示，当前我国汽车产业国际化发展在发生质变，正 从初级阶段"走出去"向中级阶段"走进去"进阶。在路径和节奏方面，我国汽车产业国际化要因地制宜和 因时制宜，准确把握国际化场景、模式和节奏至关重要。 中国证券报记者在研讨会上获悉，中国汽车工业协会等联合推出"2025中国汽车品牌向上发展专项行动 特别策划'国车新航向万里拓新章'出海专题纪录片"，通过5个代表品牌的出海故事，展示中国汽车在全 球产业发展中的重要作用，提升"中国汽车"在全球舞台上的形象和影响力。 中证报中证网讯(记者李嫒嫒)1月30日，中国汽车品牌出海高端研讨会暨"看见中国汽车"出海专题片首 映会在北京汽车博物馆举办，专题片为庆祝"十五五"开局而制作，将在春节前正式上线。 中国汽车工业协会表示，加码"走出去"，加快"走进去、走上去"，2025年，中国汽车出海继续提速。中 国汽车工业协会副秘书长柳燕在研讨会上表示，"十四五"期间，中国汽车产业实现了全方位的跨越式发 展，其中出口大幅增长、全球化进程提速，是最大的亮点之一。 ...