| 证券代码：600180 | 证券简称：瑞茂通 | 公告编号：2026-019 | | | --- | --- | --- | --- | | 债券代码：255290.SH | | 债券简称：24 01 | 瑞茂 | | 债券代码：255553.SH | | 债券简称：24 02 | 瑞茂 | 瑞茂通供应链管理股份有限公司 关于召开2026年第二次临时股东会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、 召开会议的基本情况 (一) 股东会类型和届次 2026年第二次临时股东会 召开的日期时间：2026 年 2 月 27 日 14 点 30 分 召开地点：河南自贸试验区郑州片区（郑东）北龙湖如意东路和如意东三街 交汇处中瑞国际北塔 9 层 股东会召开日期：2026年2月27日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 (二) 股东会召集人：董事会 (三) 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合 的方式 (四) 现场会议召开的日期、时间和地点 (五) 网络投票的系统、起 ...

瑞茂通供应链管理股份有限公司 关于第九届董事会第十一次会议决议的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 瑞茂通供应链管理股份有限公司（以下简称"公司"）第九届董事会第十一 次会议于 2026 年 2 月 3 日以现场加通讯方式召开。会议应出席董事 5 人，实际 出席会议董事 5 人，公司高级管理人员列席了会议。会议由公司董事长万永兴先 生主持。会议的召集和召开程序符合《中华人民共和国公司法》（以下简称"《公 司法》"）和《公司章程》的规定，所形成的决议合法有效。 二、董事会会议审议情况 | 证券代码：600180 | 证券简称：瑞茂通 | 公告编号：2026-017 | | | --- | --- | --- | --- | | 债券代码：255290.SH | | 债券简称：24 | 瑞茂 01 | | 债券代码：255553.SH | | 债券简称：24 | 瑞茂 02 | 表决结果：5 票同意，0 票反对，0 票弃权。 详情请见公司于 2026 年 2 月 4 日在《中国证券报》、《 ...

Performance Highlights - New Yi Sheng (300502.SZ) expects net profit between 9.4 billion and 9.9 billion CNY, a year-on-year increase of 231.24% to 248.86% due to rising demand for high-speed optical modules driven by global computing power investments[4] - Han's Chip (688256.SH) anticipates net profit between 1.85 billion and 2.15 billion CNY, turning from a loss of 450 million CNY last year, benefiting from the growing demand for AI computing power[5] - Zhongji Xuchuang (300308.SZ) projects net profit between 9.8 billion and 11.8 billion CNY, a year-on-year growth of 89.50% to 128.17%, driven by strong customer investment in computing infrastructure[6] - Runze Technology (300442.SZ) expects net profit between 5 billion and 5.3 billion CNY, a year-on-year increase of 179.28% to 196.03%, largely due to non-recurring gains from public REITs issuance[10] Underperformance Highlights - Great Wall Motors (601633.SH) forecasts net profit of 9.912 billion CNY, a year-on-year decline of 21.71% due to increased marketing expenses and competitive pressures[36] - GAC Group (601238.SH) expects a net loss between 8 billion and 9 billion CNY, turning from a profit of 824 million CNY last year, impacted by fierce competition and increased asset impairment provisions[39] - Xiexin Integrated (002506.SZ) anticipates a net loss between 890 million and 1.29 billion CNY, shifting from a profit of 68 million CNY last year due to structural supply-demand issues in the photovoltaic industry[41] - Baile Tianheng (688506.SH) projects a net loss of around 1.1 billion CNY, down from a profit of 3.708 billion CNY last year, primarily due to increased R&D expenses[42] Industry Trends - Technology-driven sectors like AI and innovative pharmaceuticals are leading growth, with companies like New Yi Sheng and Han's Chip benefiting from strong demand and technological advancements[69] - Cost control is becoming a critical competitive advantage, particularly in the energy and manufacturing sectors, as seen with companies like Datang Power (601991.SH) benefiting from lower coal prices[70] - Traditional cyclical industries such as real estate and agriculture are facing significant downward pressure, with companies like Vanke (000002.SZ) and Tianbang Foods (002124.SZ) experiencing substantial losses due to market adjustments[72]

Core Viewpoint - The article highlights the performance forecast of various A-share listed companies, indicating a significant divergence in earnings growth across different sectors, driven by technological advancements, cost control, and industry cycles [4][62]. Group 1: Companies with Strong Earnings Growth - **New Yisheng (300502.SZ)**: Expected net profit of 9.4 billion to 9.9 billion, a year-on-year increase of 231.24% to 248.86%, driven by rising demand for high-speed optical modules due to global computing power investments [6]. - **Han's Laser (688256.SH)**: Expected net profit of 1.85 billion to 2.15 billion, turning from a loss of 0.452 billion in the previous year, benefiting from the increasing demand for AI computing power [8]. - **Zhongji Xuchuang (300308.SZ)**: Expected net profit of 9.8 billion to 11.8 billion, a year-on-year increase of 89.50% to 128.17%, supported by strong investment in computing infrastructure [10]. - **Runze Technology (300442.SZ)**: Expected net profit of 5 billion to 5.3 billion, a year-on-year increase of 179.28% to 196.03%, primarily due to non-recurring gains from public REITs issuance [12]. - **CITIC Securities (601995.SH)**: Expected net profit of 8.542 billion to 10.535 billion, a year-on-year increase of 50% to 85%, driven by steady growth in core business segments [15]. Group 2: Companies with Earnings Below Expectations - **Great Wall Motors (601633.SH)**: Expected net profit of 9.912 billion, a year-on-year decrease of 21.71%, impacted by increased marketing expenses and intense competition [34]. - **GAC Group (601238.SH)**: Expected net profit of -8 billion to -9 billion, turning from a profit of 0.824 billion in the previous year, due to fierce competition and adjustments in product structure [36]. - **GCL-Poly Energy (002506.SZ)**: Expected net profit of -0.89 billion to -1.29 billion, turning from a profit of 0.068 billion, affected by structural supply-demand issues in the photovoltaic industry [38]. - **Boli Tianheng (688506.SH)**: Expected net profit of -1.1 billion, turning from a profit of 3.708 billion, due to increased R&D expenses [39]. - **Daiyue City (000031.SZ)**: Expected net profit of -2.7 billion to -2.1 billion, continuing losses from the previous year, influenced by asset impairment provisions [42]. Group 3: Industry Trends - **Technological Breakthroughs**: Industries driven by technology, such as AI and innovative pharmaceuticals, are showing strong growth, with companies like New Yisheng and Rongchang Bio leading the way [62][63]. - **Cost Control**: The energy and manufacturing sectors are experiencing a clear divide, with companies like Datang Power benefiting from lower coal prices and effective cost management [64]. - **Downward Pressure from Industry Cycles**: The real estate, agriculture, and photovoltaic sectors are under significant pressure, with companies like Vanke and Tianbang Food facing substantial earnings declines [65][66].

Core Viewpoint - The company, 瑞茂通 (600180.SH), announced a significant expected net loss for the year 2025, marking a shift from profit to loss compared to the previous year [1] Financial Performance - The company anticipates a net profit attributable to shareholders of between -1.7 billion to -2.5 billion yuan for 2025, with a net profit excluding non-recurring gains and losses expected to be between -1.69 billion to -2.49 billion yuan [1] - In contrast, the net profit attributable to shareholders for the same period last year was approximately 66.59 million yuan, with a net profit of about 157.8 million yuan after excluding non-recurring items [1] Reasons for Loss - The expected loss is primarily attributed to two factors: 1. Legal issues involving certain clients, leading the company to prudently provision for significant credit impairment losses on related receivables [1] 2. Anticipated substantial losses from certain joint ventures, resulting in a significant decline in investment income calculated using the equity method [1] Regulatory Response - The company received a regulatory work letter from the Shanghai Stock Exchange regarding the aforementioned earnings forecast, which includes the listed company, its directors, senior management, controlling shareholders, and actual controllers [1]

Core Viewpoint - 瑞茂通 (600180.SH) is expected to report a significant net loss for the fiscal year 2025, with estimates ranging from -1.7 billion to -2.5 billion yuan, indicating a downturn compared to the previous year [1] Financial Performance - The projected net profit attributable to the parent company for 2025 is estimated to be between -1.69 billion and -2.49 billion yuan, excluding non-recurring gains and losses [1] - The anticipated loss represents a substantial decline from the previous year's financial performance [1] Reasons for Performance Decline - The primary reason for the expected loss is the impact of litigation involving some clients, leading the company to prudently recognize significant credit impairment losses on receivables [1] - Additionally, potential large losses from certain joint ventures are expected to adversely affect the company's investment income, which will be accounted for using the equity method [1]

（记者 曾健辉） 每经头条（nbdtoutiao）——中国无人驾驶"军团"，"武装"阿布扎比 每经AI快讯，瑞茂通1月30日晚间发布业绩预告，预计公司2025年度实现归属于母公司所有者的净利润 约为-17亿元到-25亿元，与上年同期相比，将出现亏损。受公司部分客户涉及诉讼等事项的影响，基于 谨慎性考虑，公司对相关往来款项，主要是应收账款计提了较大的信用减值损失。受部分联营企业可能 出现大额亏损的影响，公司按权益法核算确认的投资收益产生较大亏损。 ...

瑞茂通1月30日公告，经财务部门初步测算，瑞茂通供应链管理股份有限公司预计2025年度实现归属于 母公司所有者的净利润约为-170,000万元到250,000万元；预计2025年度实现归属于母公司所有者的扣除 非经常性损益的净利润约为-169,000万元到-249,000万元。 ...

南财智讯1月30日电，瑞茂通发布业绩预亏公告，经财务部门初步测算，公司预计2025年度实现归属于 母公司所有者的净利润约为-170000万元到-250000万元，与上年同期相比将出现亏损。业绩预亏的主要 原因：（一）受公司部分客户涉及诉讼等事项的影响，基于谨慎性考虑，公司对相关往来款项，主要是 应收账款计提了较大的信用减值损失；（二）受部分联营企业可能出现大额亏损的影响，公司按权益法 核算确认的投资收益产生较大亏损。 ...

Core Viewpoint - The company, 瑞茂通, anticipates a significant net loss for the fiscal year 2025, with projections indicating a net profit attributable to shareholders of the parent company ranging from -1.7 billion to -2.5 billion yuan [1] Financial Projections - The expected net profit attributable to shareholders, excluding non-recurring gains and losses, is projected to be between -1.69 billion and -2.49 billion yuan for the year 2025 [1] - The company has made substantial provisions for credit impairment losses on accounts receivable due to litigation involving some clients, reflecting a cautious approach [1] Investment Impact - The anticipated large losses from certain joint ventures will significantly affect the company's investment income, which will be recognized under the equity method [1]