Core Viewpoint - The article discusses the contrasting performance of global markets in early 2023, highlighting a broad rise in international stock markets while the U.S. market, particularly large-cap stocks, lagged behind, indicating a preference for small-cap stocks amidst a backdrop of liquidity and sentiment recovery [3][20]. Group 1: Market Trends - Global stock markets, including Japan, South Korea, and Singapore, have reached historical highs, while the Shanghai Composite Index has hit a 10-year peak [3][20]. - The U.S. market has shown a notable divergence, with large-cap stocks underperforming compared to small-cap stocks, suggesting a selective investment approach despite overall liquidity [3][20]. Group 2: Liquidity and Sentiment - The article emphasizes the importance of distinguishing between "big expectations" and "small certainties" regarding market liquidity and sentiment recovery [5][22]. - A significant drop in market trading activity was observed after the "Quadruple Witching Day" in December, marking the fastest decline in five years, which coincided with liquidity risk events [5][22]. - Following the year-end holidays, trading activity rebounded, leading to a notable market recovery [23]. Group 3: Fiscal and Monetary Policy - Fiscal expansion remains a key theme across major economies, driven by election-year dynamics in the U.S. and new leadership in Japan, alongside a revival in European fiscal efforts [7][25]. - The Federal Reserve's monetary policy adjustments, including the initiation of Reserve Management Purchases (RMP), are expected to enhance liquidity in the market [9][27]. - The anticipated scale of net purchases by the Federal Reserve over the next 12 months is projected to be $220 billion, with a monthly average of around $40 billion from January to April [9][27][28]. Group 4: Market Expectations and Risks - The market's expectations for fiscal and monetary stimulus are likely to be a significant source of volatility throughout the year [12][32]. - There is a cautious outlook on unconventional fiscal policies, such as direct payments to residents, due to potential legislative hurdles [12][32]. - The article outlines four potential scenarios for market dynamics based on the interplay of Federal Reserve policies and the strength of the U.S. dollar, indicating varying impacts on global assets [14][34].

Group 1 - Yanjiang Co. plans to acquire 98.54% stake in Yongqiang Technology, which is expected to constitute a major asset restructuring. The transaction will involve issuing shares and cash payments to 28 counterparties, aiming to expand into the high-end electronic interconnection materials for integrated circuits [1] - Yongqiang Technology specializes in the R&D, production, and sales of high-performance copper-clad laminates and semi-cured sheets, which aligns with Yanjiang's strategic transformation and technology research in the integrated circuit sector [1] Group 2 - Guolian Minsheng forecasts a net profit increase of approximately 406% for 2025, expecting to reach 2.008 billion yuan, up from the previous year's 1.611 billion yuan. This growth is attributed to the acquisition of Minsheng Securities and the integration of its business [3] - The company aims to enhance its financial service capabilities through deep integration of technology, finance, and industry, leading to significant growth in securities investment, brokerage, and wealth management [3] Group 3 - Tianyuan Intelligent's actual controller and chairman has been detained for investigation, but the company states that its operations and management remain normal, and there is no significant impact on its business [4] Group 4 - Changxin Bochuang expects a net profit of 32 million to 37 million yuan for 2025, representing a year-on-year growth of 344.01% to 413.39%, driven by the demand for data communication products due to advancements in cloud computing and AI [5] - Shenghong Technology anticipates a net profit of 416 million to 456 million yuan for 2025, with a growth of 260.35% to 295.00%, maintaining its technological leadership in the global PCB manufacturing sector [5] Group 5 - Beifang Rare Earth predicts a net profit of 2.176 billion to 2.356 billion yuan for 2025, an increase of 116.67% to 134.60%, due to improved production and sales of rare earth products [7] - The company has made significant progress in its production efficiency and competitive advantages through various projects and innovations in the rare earth industry [7] Group 6 - Oke Yi expects a net profit of 96 million to 110 million yuan for 2025, a growth of 67.53% to 91.96%, driven by the rising demand for precision machining tools in the high-end manufacturing sector [8] - Lanqi Technology forecasts a net profit of 2.15 billion to 2.35 billion yuan for 2025, benefiting from the booming AI industry and increased demand for interconnect chips [9] Group 7 - Huida Technology has received approval for a stock issuance to specific investors, which is valid for 12 months, aimed at funding various projects [12] - Xinyuan New Materials plans to acquire a 51% stake in Hai Rui Te Engineering Plastics, enhancing its position in the high-tech materials sector [15]

Group 1 - Fenglong Co., Ltd. has completed the suspension review and will resume trading on January 19 [1] - Rongbai Technology is under investigation by the China Securities Regulatory Commission for potentially misleading statements regarding a major contract [1] - Rongbai Technology estimates a total contract amount of 120 billion yuan with CATL [1] Group 2 - Minexplosion Optoelectronics is planning to acquire Xiazhi Precision and Jiangxi Maida, both of which focus on core consumables in PCB manufacturing [1] - Yanjing Co., Ltd. intends to purchase 98.54% equity of Yongqiang Technology, expanding its business into high-end electronic interconnection materials for integrated circuits [1] Group 3 - Tianyuan Intelligent's actual controller and chairman, Wu Yizhong, has been detained [1] - Tiantie Technology's actual controller, Xu Jiding, has had his compulsory measures changed to bail pending trial [1] Group 4 - Guolian Minsheng expects a net profit increase of approximately 406% year-on-year for 2025 [1] - Oke Yi anticipates a net profit increase of 67.53% to 91.96% year-on-year for 2025 [1] Group 5 - Tiandi Source forecasts a net loss of 900 million to 1.35 billion yuan for 2025 [1] - Gui Guang Network expects a net loss of 1.07 billion to 1.35 billion yuan for 2025 [1] - Aisheng Co., Ltd. projects a net loss of 1.2 billion to 1.9 billion yuan for 2025 [1] - Longi Green Energy anticipates a net loss of 6 billion to 6.5 billion yuan for 2025 [1] - Tongwei Co., Ltd. expects a net loss of 9 billion to 10 billion yuan for 2025 [1] Group 6 - Weisi Medical's actual controller's concerted action party plans to reduce its stake in the company by no more than 3% [1] - Chuhuan Technology's pre-IPO employee stock ownership platform intends to reduce its stake in the company by no more than 3% [1] - Sandam Membrane's Qingyuan China plans to reduce its stake in the company by no more than 3% [1]

Group 1 - The core point of the article is that Guolian Minsheng (601456.SH) expects a significant increase in net profit for the fiscal year 2025, projecting a net profit of 2.008 billion yuan, which represents an increase of 1.611 billion yuan or approximately 406% year-on-year [1] - The company has acquired control of Minsheng Securities, which has been included in its financial statements, contributing to the expected profit growth [1] - Guolian Minsheng is focusing on the integration of technology, finance, and industry to enhance its comprehensive financial service capabilities, leading to notable growth in its securities investment, brokerage, and wealth management businesses [1] Group 2 - The company announced a major asset restructuring plan on April 25, 2024, to acquire control of Minsheng Securities through the issuance of A-shares and to raise matching funds [1] - By December 30, 2024, Guolian Securities completed the transfer procedures for acquiring 99.26% of Minsheng Securities' shares [1] - In early 2025, Guolian Securities officially changed its name to "Guolian Minsheng Securities Co., Ltd." and completed the necessary business registration [1]

Core Viewpoint - Guolian Minsheng (01456) expects a significant increase in net profit for the fiscal year 2025, projecting a net profit attributable to shareholders of RMB 2.008 billion, which represents an increase of RMB 1.611 billion or approximately 406% year-on-year [1] Financial Performance - The company anticipates a net profit attributable to shareholders, excluding non-recurring gains and losses, of RMB 1.944 billion for 2025, reflecting an increase of RMB 1.563 billion or around 410% compared to the previous year [1] - The substantial growth in operating performance is attributed to a low comparative base from the previous year [1] Business Development - The company successfully completed the acquisition of control over Minsheng Securities through the issuance of A-shares, and is effectively integrating its existing business with that of Minsheng Securities [1] - The company is actively exploring the deep integration of technology, finance, and industry, focusing on "synergistic empowerment" and "internal growth" to enhance its comprehensive financial service capabilities [1] - Significant growth has been observed in the business lines of securities investment, brokerage, and wealth management [1]

Core Viewpoint - Guolian Minsheng (01456.HK) expects a significant increase in net profit for the fiscal year 2025, driven by strategic acquisitions and business integration efforts [1] Financial Performance - The company anticipates a net profit attributable to shareholders of RMB 2.008 billion for 2025, an increase of RMB 1.611 billion compared to the previous year, representing a year-on-year growth of approximately 406% [1] - The expected net profit, excluding non-recurring gains and losses, is projected to be RMB 1.944 billion, which is an increase of RMB 1.563 billion year-on-year, reflecting a growth of around 410% [1] Strategic Initiatives - The company has successfully acquired control of Minsheng Securities through the issuance of A-shares, and is effectively integrating its existing business with that of Minsheng Securities [1] - The company is actively exploring the deep integration of technology, finance, and industry, focusing on "synergistic empowerment" and "internal growth" to enhance its comprehensive financial service capabilities [1] - Significant growth has been observed in the business lines of securities investment, brokerage, and wealth management, attributed to a low comparative base from the previous year [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：01456） （於中華人民共和國成立的股份有限公司） 2025年度業績預增公告 本公告乃國聯民生證券股份有限公司（「本公司」）根據香港聯合交易所有限公司證券 上市規則（「上市規則」）第13.09條及第13.10B條及《證券及期貨條例》（香港法例第571 章）第XIVA部項下內幕消息條文（定義見上市規則）作出。 2025年1月1日至2025年12月31日。 （二）業績預告情況 經本公司財務部門初步測算，預計2025年度實現歸屬於母公司所有者的淨 利潤人民幣20.08億元，與上年同期（法定披露數據）相比，將增加人民幣 16.11億元，同比增長406%左右。 1 預計2025年度實現歸屬於母公司所有者的扣除非經常性損益的淨利潤人 民幣19.44億元，與上年同期（法定披露數據）相比，將增加人民幣15.63億 元，同比增長410%左右。 （三）本次業績預告數據僅為初步核算數據，未經註冊會計師審計。 二 ...

北京商报讯（记者 刘宇阳 实习生 姚榕琰）1月18日，国联民生证券发布2025年年度业绩预增公告。数据显示，国联民生证券预计2025年度实现归属于母公 司所有者的净利润20.08亿元，与上年同期相比增加16.11亿元，同比增长406%左右。 同时，公告显示，国联民生证券预计2025年度扣除非经常性损益的净利润为19.44亿元，将增加人民币15.63亿元，同比增长410%左右。国联民生证券表示， 业绩预增主要系报告期内完成收购民生证券控制权并将其纳入合并报表范围，各业务线实现显著增长，且上年同期基数较小。 ...

Core Viewpoint - Guolian Minsheng has announced a significant increase in its expected net profit for the fiscal year 2025, projecting a net profit of RMB 2.008 billion, which represents a year-on-year increase of approximately 406% compared to 2024 [1] Financial Performance - The company anticipates a net profit attributable to shareholders of RMB 2.008 billion for 2025, an increase of RMB 1.611 billion from the previous year [1] - The expected net profit after deducting non-recurring gains and losses is projected to be RMB 1.944 billion, reflecting an increase of RMB 1.563 billion year-on-year, which corresponds to a growth rate of around 410% [1]

Group 1 - The company expects to achieve a net profit attributable to shareholders of RMB 2.008 billion in 2025, an increase of RMB 1.611 billion compared to the previous year, representing a year-on-year growth of approximately 406% [1] - The expected net profit attributable to shareholders after deducting non-recurring gains and losses is RMB 1.944 billion, which is an increase of RMB 1.563 billion year-on-year, reflecting a growth of around 410% [1] - The company completed the acquisition of control over Minsheng Securities through the issuance of A-shares, and is effectively integrating its existing business with that of Minsheng Securities [1] Group 2 - The company is actively exploring the deep integration of technology, finance, and industry, focusing on "synergistic empowerment" and "internal growth" to enhance its comprehensive financial service capabilities [1] - Significant growth has been observed in the business lines of securities investment, brokerage, and wealth management, contributing to the substantial year-on-year increase in operating performance [1] - The large year-on-year growth in operating performance is also attributed to a low comparative base from the previous year [1]