2月3日早盘，军工板块盘中崛起，领涨全市场！高人气军工ETF华宝（512810）大涨超3%！成份股全 线反弹，海兰信涨超16%居首，航发控制涨停！ | | 分时 多日 1分 5分 15分 30分 · | | | | | | F9 盘前盘后 露加 九轮 画线 工具 @ 0 | | 军工ETF华宝 1 | | 512810 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 512810[到工ETF华宝] 11:05 价 0.847 蔬菜 0.026(3.17%) 均价 0.838 服交量 0 | | | | | | | | | 0.84 | | | war | | | | | | 0.847 | | +0.026 +3.17% | | | 11. 11. 11. | | | | | | | | | SSE CNY 11:05:09 发现中 | 海 2 0 4 | | 0.834 | | | | | | | | 1.61% | 净值走势 | | 华宝中证军工ETF | | 0.821 | | | ...

绿电应用构建减碳基石，看好新一代能源 技术突破 "十五五"碳达峰路径展望 核心观点 投资建议与投资标的 "十五五"期间我国风光装机预计维持较高增速，海上风电、钙钛矿、太空光伏等细分 方向具备高成长性。新能源高增速推动储能需求提升，2025 年储能装机实现 50%以上增 长，预计储能需求高景气度将持续。关注高景气度、高成长性的新技术相关标的。 "十四五"期间我国减碳速度低于预期，倒逼高耗能行业在"十五五"期间加大力度推 动减碳方案商业化，绿色燃料迎来需求增长拐点；核聚变产业化保障我国能源安全，预 计"十五五"期间催化不断。关注卡位绿色燃料、核聚变等新一代能源方案相关标的。 钧达股份(002865，未评级)、迈为股份(300751，未评级)、大金重工(002487，未评 级)、东方电缆(603606，未评级)、金晶科技(600586，未评级)、海博思创(688411，未 评级)、阳光电源(300274，未评级)、中国天楹(000035，未评级)、嘉泽新能(601619， 未评级)、 合 锻 智 能(603011，未评级)、 联 创 光 电(600363，未评级)、 旭 光 电 子 (600353，未评级)、国光电 ...

技术驱动的增长与周期拖累的亏损同样醒目。 | 作者 | | 迷宫 | | --- | --- | --- | | 编辑 | | 小白 | 本研报基于截至2026年1月26日A股上市公司发布的业绩预告公告，筛选出值得关注的标的。 业绩增速亮眼标的 01 中微公司（688012） 业绩预告类型： 同向上升 • 先进逻辑器件中段 关键刻蚀工艺和先进存储器件超高深宽比刻蚀工艺 实现量产 预告日期：2026年1月23日 预计净利润区间： 208,000万元～218,000万元 同比变化： 增长28.74%～34.93% 核心原因摘要： • 等离子体刻蚀设备在国内外持续获得更多客户的认可，针对先进逻辑和存储器件制造中关键刻蚀工 艺的高端产品新增付运量显著提升 预告日期：2026年1月23日 预计净利润区间： 43,500万元～53,200万元 同比变化： 增长80.36%～120.57% 核心原因摘要： • 市场需求急剧增长，公司 先进产品实现量产 • 公司出售了部分持有的上市公司股票，投资收益增加 亮点/风险点分析： • 亮点： 半导体设备行业龙头，技术壁垒高；受益于AIoT市场快速增长和端侧AI技术创新；营业收 入首 ...

Group 1 - The company, Lianchuang Optoelectronics, announced that its controlling shareholder, Jiangxi Electronic Group, will release part of its pledged shares and re-pledge them [1] - Jiangxi Electronic Group holds approximately 94.74 million shares of the company, accounting for 21.01% of the total share capital [1] - After the release and re-pledge, the total number of pledged shares will be approximately 75.73 million, representing 79.94% of the shares held by the controlling shareholder and 16.8% of the company's total share capital [1]

证券代码：600363 证券简称：联创光电 编号：2026-005 江西联创光电科技股份有限公司 关于控股股东部分股权解除质押并再质押的公告 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个别及连带责任。 重要内容提示： | （一）本次股份质押基本情况 | | --- | | 股东 | 是 否 为 控 | 本次质押 | 是 否 为 | 是 否 补 | 质押起始日 | 质押到期日 | 质权人 | 占其所 持股份 | 占公司 总股本 | 质押 融资 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 股 | 股数（股） | 限 | 充 | | | | | | 资金 | | | | | 售 | 质 | | | | 比例 | 比例 | 用途 | | | 股 东 | | 股 | 押 | | | | | | | | 电子 | 是 | 4,790,000 | 否 | 否 | 2026/1/23 | 2026/2/22 | 义乌市雨 桐科技有 | 5. ...

Core Viewpoint - The company, Lianchuang Optoelectronics, is expected to achieve significant growth in its financial performance for 2025, with projected net profit increasing by 80.36% to 120.57% year-on-year, driven by advancements in its laser business and a reduction in losses from its backlight source segment [1][2][4]. Financial Performance - The company anticipates a net profit attributable to shareholders of between 4.35 billion to 5.32 billion yuan for 2025, an increase of 1.93 billion to 2.9 billion yuan compared to the previous year [1][2]. - The expected non-recurring net profit is projected to be between 3.83 billion to 4.92 billion yuan, reflecting a year-on-year increase of 100.70% to 157.82% [1][2]. - Historical performance shows that the company's net profit was 1.95 billion yuan in 2019, with fluctuations in subsequent years, including a decline in 2024 due to backlight source business challenges [3]. Business Transformation - The company is actively transforming from traditional industries to technology-driven sectors, focusing on laser technology and high-temperature superconductors [1][2][10]. - Significant investments have been made in research and development, totaling 1.08 billion yuan over the past seven years, with a focus on innovation in laser technology [11]. Segment Performance - The laser business has seen substantial growth, with revenue from laser series and traditional LED chips reaching 1.28 billion yuan in the first half of 2025, marking a year-on-year increase of 176.87% [10]. - The backlight source segment, while previously a drag on performance, has shown improvement with a revenue increase of 17.95% to 5.96 billion yuan in the first half of 2025, as the company shifts focus to industrial control, automotive, and tablet backlight sources [9][10]. Market Position and Stock Performance - The company's stock has performed well, with a notable increase from a low of 42.85 yuan per share to a high of 78.76 yuan, representing an 83.8% increase [5]. - As of January 23, 2025, the company's market capitalization stands at 31.98 billion yuan [5]. Shareholder Structure - The controlling shareholder, Jiangxi Electronic Group, has a high pledge rate, with 79.94% of its shares pledged as of the announcement date [6][7].

Core Viewpoint - Lianchuang Optoelectronics (600363.SH) is expected to achieve significant growth in its annual performance for 2025, driven by a strategic shift towards technology-led industries and substantial increases in its laser business revenue [1][3]. Financial Performance - The company anticipates a net profit attributable to shareholders of 4.35 billion to 5.32 billion yuan for 2025, representing an increase of 1.93 billion to 2.9 billion yuan year-on-year, with a growth rate of 80.36% to 120.57% [1][3]. - The expected net profit after deducting non-recurring items is projected to be between 3.83 billion and 4.92 billion yuan, reflecting an increase of 1.92 billion to 3 billion yuan year-on-year, with a growth rate of 100.70% to 157.82% [1][3]. - In 2024, the company reported total revenue of 31.04 billion yuan, a decline of 4.17% year-on-year, and a net profit of 2.41 billion yuan, down 27.86% year-on-year [4]. Business Transformation - The company is actively transitioning from traditional industries to technology-driven sectors, focusing on the growth of its laser business and reducing losses in its backlight source segment [1][3]. - Lianchuang Optoelectronics has invested 10.81 billion yuan in research and development from 2019 to the third quarter of 2025, indicating a strong commitment to innovation [2][12]. Segment Performance - The laser series and traditional LED chip products generated revenue of 1.28 billion yuan in the first half of 2025, marking a substantial increase of 176.87% year-on-year [11]. - The backlight source and application segment achieved revenue of 5.96 billion yuan in the first half of 2025, reflecting a year-on-year growth of 17.95% [10][11]. Market Position and Stock Performance - The company's stock price has shown a positive trend, reaching a high of 78.76 yuan per share on January 16, 2026, representing an increase of 83.8% from its lowest point of 42.85 yuan per share on January 17, 2025 [6]. - As of January 23, 2025, the company's market capitalization stood at 319.8 billion yuan [6]. Shareholder Structure - The controlling shareholder, Jiangxi Electronic Group Co., Ltd., has a high pledge rate, with 75.73 million shares pledged, accounting for 79.94% of its total holdings and 16.8% of the company's total share capital [8].

一、停复牌 1、锋龙股份：股价异动停牌核查。 2、嘉美包装：股价异动停牌核查。 3、湖南黄金：2025年净利润为12.70亿元至16.08亿元，同比增长50.00%至90.00%。业绩上涨主要是公 司金、锑、钨产品销售价格同比上涨。拟购买黄金天岳、中南冶炼100%股权，股票复牌。 4、龙韵股份：筹划购买愚恒影业58%股权，股票停牌。 二、回购 1、金开新能：拟5亿元-6亿元回购公司股份。 2、中宠股份：拟1亿元-2亿元回购公司股份。 三、并购重组 1、永杰新材：拟购买奥科宁克秦皇岛100%股权和奥科宁克昆山95%股权。奥科宁克秦皇岛主要从事铝 板带的研产销；奥科宁克昆山主要从事热管理相关铝板带的研产销。 2、晶升股份：拟8.57亿元购买为准智能100%股份。 2、德力佳：拟50亿元投建10兆瓦以上风电用变速箱研发制造项目。 3、天合光能：将剩余募集资金17亿元用于新项目"分布式智慧光伏电站建设项目"。 4、精智达：签订13.11亿元半导体测试设备销售合同。 5、蓝思科技：商业航天领域已实现批量供货，针对太空环境极端需求已研发出超薄光伏玻璃模组等。 6、北汽蓝谷：子公司拟投资19.91亿元建设享界超级工厂高端平 ...

Group 1 - JunDa Co., Ltd. announced that the comprehensive cost-effectiveness of perovskite photovoltaic technology in extreme space environments remains to be verified [2][5] - The company has invested 30 million yuan to acquire a 16.67% stake in Starwing Chip Energy, but no formal business agreement has been signed for space photovoltaic projects [2][5] - The technology shows potential advantages in lightweight, low cost, and high radiation resistance, but long-term reliability and cost-effectiveness in space are still uncertain [2][5] Group 2 - Aotewei stated that the "space photovoltaic" sector is still in the early exploration and research phase, with significant uncertainties in the industrialization process [3] - The company emphasized that product development to commercial application requires a considerable period, and the impact of related positive expectations on actual operating performance is highly uncertain [3] Group 3 - Tongyu Communications announced its participation in the A1 round financing of Beijing Blue Arrow Hongqing Technology, investing 30 million yuan for a 1.8293% stake [3] - The company will transition from direct to indirect ownership of Hongqing Technology through a partnership agreement [3] Group 4 - Huajin Technology received approval from the China Securities Regulatory Commission for the issuance of H-shares, planning to issue up to 101,573,100 shares [4] - Trina Solar announced a change in the use of remaining raised funds, reallocating 1.7 billion yuan to a new project for distributed smart photovoltaic power station construction [4][5] Group 5 - Yunnan City Investment plans to publicly transfer a 10.5% stake in Qicai Company with a base price of 293 million yuan [6] - Zijin Mining announced the completion of the second phase of the Giant Dragon Copper Mine, increasing production capacity to 350,000 tons per day [6] Group 6 - Shuaifeng Electric expects a net profit loss of 43 million to 62 million yuan in 2025, with potential delisting risk warnings for its stock [7] - Anqi Yeast plans to invest 222 million yuan in a green manufacturing project for yeast products with an annual output of 12,000 tons [7] Group 7 - Zhengzhou Coal and Electricity announced the cessation of production at the Chaohua Coal Mine due to resource depletion and safety risks, expecting a 311 million yuan impairment loss [8] - Oujing Technology announced partial production line shutdowns at its subsidiaries to reduce losses and operating costs [8] Group 8 - North Car Blue Valley plans to invest in the construction of a high-end platform model industrialization and digital upgrade project with a total investment of 1.991 billion yuan [9] - Jingzhida signed a significant contract worth 1.311 billion yuan for semiconductor testing equipment [9] Group 9 - Yanghe Co. announced a cash dividend plan for 2025-2027, committing to distribute no less than 100% of net profit each year [10] - Yanghe Co. also projected a net profit decline of 62.18% to 68.30% for 2025 due to market adjustments and increased channel inventory [10] Group 10 - Huitong Energy expects a net profit decrease of 69.51% to 75.82% for 2025, primarily due to the absence of non-recurring income from property relocation rewards [11] - Dahua Co. reported a net profit increase of 32.65% for 2025, driven by business optimization and cost control [12] Group 11 - Hangzhou Bank reported a net profit increase of 12.05% for 2025, maintaining a stable non-performing loan ratio [12] - Aotejia expects a net profit increase of 41.85% to 79.67% for 2025, supported by sales growth and cost control measures [12] Group 12 - Shenke Co. anticipates a net profit increase of 65.75% to 98.9% for 2025, benefiting from overseas strategy and revenue growth [13] - Pioneering Technology expects a net profit increase of 50.82% to 109.21% for 2025, driven by product technology iterations and market expansion [13] Group 13 - Shanchuang Technology expects a net profit increase of 81.77% to 134.78% for 2025, fueled by demand for enterprise-level storage products [14] - Anshuo Information anticipates a net profit increase of 52.44% to 98.83% for 2025, with government subsidies contributing to the growth [14] Group 14 - Zhongwei Company expects a net profit increase of 28.74% to 34.93% for 2025, driven by increased customer recognition of its plasma etching equipment [15] - Jingfang Technology anticipates a net profit increase of 44.41% to 52.32% for 2025, benefiting from the automotive industry's growth [16] Group 15 - Fuda Alloy expects a net profit increase of 119.14% to 219.95% for 2025, driven by strong demand in emerging applications [17] - Feirongda anticipates a net profit increase of 57.23% to 83.43% for 2025, supported by stable growth in communication and cooling business [17] Group 16 - Licheng Performing Arts expects a net profit decrease of 12.75% to 32.21% for 2025, impacted by regional travel environment fluctuations [22] - Lisheng Pharmaceutical anticipates a net profit increase of 116.77% to 138.44% for 2025, driven by market expansion and product sales [23] Group 17 - JMC reported a net profit decrease of 22.71% for 2025, despite a 2.07% increase in total revenue [27] - Daoshi Technology expects a net profit increase of 206.01% to 269.76% for 2025, driven by overseas business expansion [28] Group 18 - Jin Kai New Energy plans to repurchase shares worth 500 million to 600 million yuan, with a maximum repurchase price of 7.5 yuan per share [29] - Longyun Co. announced a stock suspension due to plans to acquire a 58% stake in Yuheng Film Industry [30]

其中超导产业层面，联创光电将深耕感应加热、晶硅生长、可控核聚变及电磁弹射等领域的市场化落 地，同时依托高温超导特性挖掘全新应用场景，以长期高增长为目标，助力公司盈利能力与经营效率稳 步提升，实现可持续发展。 近年来，商业航天相关政策密集出台，推动产业快速发展。而超导电磁弹射技术的突破不仅是一项工程 成就，更将引发商业航天发射模式的系统性变革。 据了解，电磁弹射将重构航天发射的经济模型，在成本、频次和可靠性三个维度实现突破。首先是降低 发射成本，电磁辅助发射通过节省第一级燃料和可复用运载器，有望将整体压缩发射成本；其次是提升 发射频次，电磁弹射系统通过快速复位及充电特性，支持每日数次的密集发射，这种高频次能力对巨型 星座部署具有战略意义。 近年来，公司坚持以科技创新为引领，持续构建"以智能控制产业为基础，重点突出激光和高温超导两 大产业"的产业布局，激光、超导等高科技产业逐步进入商业化落地阶段，公司产业结构优化调整卓有 成效。 "2025年，公司激光产业快速增长，主要得益于泵浦源、激光器及光刃系列激光反无人机系统的技术突 破和市场拓展。未来，我们将不断加速激光器件装备以及高温超导磁体等高新技术产业的融合化、规模 ...