证券日报网讯1月18日，通威股份（600438）发布公告称，公司预计2025年年度实现归属于母公司所有 者的净利润约为-90亿元至-100亿元，扣除非经常性损益后净利润同为-90亿元至-100亿元。 ...

盘面上，6G、CPO、光芯片概念跌幅居前，半导体逆势走强。 09:25 A股开盘丨沪指低开0.27% | | 17.77 +2.95 +19.91% | | | | 延翔 股份 立即 300658 交易 | | | --- | --- | --- | --- | --- | --- | --- | | | SZSE CNY 9:25:00 休市 查看L2全景 | | | | | 1 0 + | | 委比 | -98.35% 委差 | | Wind ESG评级 B | | | 详情 | | 卖五 | | | रेस | | 19.91% 120日 162.67% | | | 卖加 | | | 19.91% 250日 гн | | | 254.24% | | 卖三 | | | 20日 | 54.39% 52周高 | | 14.90 | | 卖二 | 17.78 | 16310 | 60日 | 107.11% 52周低 | | 4.45 | | 卖 | 17.77 | 833 | | 2023 2024 | | 2025Q3 | | 买一 | 17.76 | 40 | EbS | 0.06 0.08 | | 0.1 ...

1月18日晚，隆基绿能(601012.SH)发布公告称，预计2025年度实现归属于上市公司股东的净亏损为60亿元到65亿元。预计2025年度实现归属于上市公司股东 的扣除非经常性损益的净亏损为68亿元到74亿元。 隆基绿能称，2025年光伏行业供需错配、低价内卷式竞争持续，开工率维持低位，同时国内电力市场化改革不断深入，海外贸易壁垒持续加剧，光伏企业经 营环境严峻复杂。四季度银浆、硅料成本大幅上涨，显著推升了硅片、电池及组件产品成本，企业经营进一步承压。受制于产品价格持续低迷和成本压力， 2025年度公司经营业绩仍然亏损。 多家光伏龙头企业日前陆续发布2025年业绩预告，其中5家企业合计预亏在289亿元-328亿元。 同日，通威股份(600438.SH)发布业绩预告，预计2025年度公司实现归属于母公司所有者的净利润亏损90亿元至100亿元。预计2025年年度实现归属于母公司 所有者的扣除非经常性损益后的净利润亏损也约为90亿元至100亿元。 通威股份表示，报告期内，光伏新增装机规模总体维持同比增长，但下半年明显放缓，行业阶段性供应过剩问题尚未缓解，产业链各环节开工率下行，白银 等部分核心原材料价格持续上涨， ...

证券研究报告·行业跟踪周报·电力设备 电力设备行业跟踪周报 固态电池加速产业化，太空光伏潜力可期 2026 年 01 月 19 日 增持（维持） [Table_Tag] [Table_Summary] 投资要点 证券分析师 曾朵红 执业证书：S0600516080001 021-60199793 zengdh@dwzq.com.cn 证券分析师 阮巧燕 执业证书：S0600517120002 ruanqy@dwzq.com.cn 行业走势 -13% -6% 1% 8% 15% 22% 29% 36% 43% 50% 2025/1/20 2025/5/20 2025/9/17 2026/1/15 电力设备 沪深300 相关研究 《出口退税产业有预期，太空光伏远 期空间大》 2026-01-12 《锂电价格快速联动，太空光伏远期 空间大》 2026-01-05 东吴证券研究所 1 / 47 请务必阅读正文之后的免责声明部分 ◼ 电气设备 10679 上涨 0.79%，表现强于大盘。（本周，1 月 12 日-1 月 16 日，下同），锂电池涨 1.5%，新 能源汽车涨 1.29%，光伏涨 0.87%，电气设备涨 0 ...

Group 1 - New stock subscriptions: Agricultural University Technology subscription code 920159, issue price 25 yuan/share, subscription limit 720,000 shares. Zhenstone Co. subscription code 780112, issue price 11.18 yuan/share, subscription limit 54,500 shares [6] - The China Securities Regulatory Commission (CSRC) held a system work meeting on January 15, 2026, emphasizing the need to maintain market stability and enhance monitoring and regulation to prevent market volatility [7] - The CSRC is investigating Rongbai Technology for misleading statements regarding a major contract, which the company estimated at a total of 120 billion yuan with CATL [9] Group 2 - Minexplosion Optoelectronics plans to acquire Xiamen Zhizhi Precision and Jiangxi Maida, both focusing on core consumables in PCB manufacturing [10] - Yanjing Co. intends to purchase 98.54% equity of Yongqiang Technology, expanding its business into high-end electronic interconnection materials for integrated circuits [11] - Qizhong Technology plans to invest 50 million yuan in a stake in He Xin Integrated, a company in the advanced packaging and testing field [12] Group 3 - Tianyuan Intelligent's actual controller and chairman, Wu Yizhong, has been detained [14] - Tian Tie Technology's actual controller, Xu Jiding, has had his compulsory measures changed to bail pending trial [15] - Guolian Minsheng expects a net profit increase of approximately 406% year-on-year for 2025 [16] Group 4 - Oke Yi anticipates a net profit increase of 67.53% to 91.96% year-on-year for 2025 [17] - I Love Home expects a net profit increase of 40.78% to 56.42% year-on-year for 2025 [17] - Longi Green Energy expects a net profit loss of 6 billion to 6.5 billion yuan for 2025 [17]

Macro News - The State Council, led by Premier Li Qiang, held a meeting on January 16 to discuss measures to boost consumption, emphasizing the need to cultivate new growth points in service consumption and enhance the quality of service supply [1] - The China Securities Regulatory Commission (CSRC) held a meeting on January 15 to summarize 2025's work and plan for 2026, stressing the importance of maintaining market stability and enhancing monitoring and regulation [2] - The Ministry of Commerce announced that Canada will impose a 100% additional tax on Chinese electric vehicles in 2024, significantly impacting exports from China, although a quota of 49,000 vehicles per year will be allowed at a reduced tariff rate [3] Industry News - Beijing ChuanYueZhe Space Technology Co., Ltd. successfully completed a verification test for its CYZ1 manned spacecraft's landing buffer system on January 18, marking a significant milestone in China's commercial space sector [4] - The Ministry of Industry and Information Technology revised the management measures for cultivating high-quality small and medium-sized enterprises, now including technology-based SMEs in the cultivation scope [5] - The National Energy Administration announced that China's total electricity consumption will exceed 10 trillion kilowatt-hours by 2025, reaching 10.4 trillion kilowatt-hours, a historic first for a single country [6] Company News - The CSRC has launched an investigation into Rongbai Technology for allegedly misleading statements regarding a major contract announcement [7] - Rongbai Technology clarified that the "120 billion yuan total contract amount" with CATL is an estimate and that actual sales remain uncertain [8] - Minexplosion Optoelectronics announced plans to acquire 100% stakes in Xiazhi Precision and Jiangxi Maida, both focused on PCB manufacturing core materials [9] - Tongwei Co. expects a net loss of approximately 9 billion to 10 billion yuan for 2025 [10] - Longi Green Energy anticipates a net loss of 6 billion to 6.5 billion yuan for 2025 [11] - The Shenzhen Stock Exchange noted abnormal trading behavior in "*ST Chengchang," leading to regulatory measures against certain investors [12] - Clandestine Communications announced that its board member received a notice from the CSRC regarding an investigation for suspected insider trading [13] - The company "Lianqi Technology" is expected to see a net profit increase of approximately 52% to 66% in 2025 due to a significant rise in interconnect chip shipments [14]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 锋龙股份：停牌核查结束，股票19日复牌。 专题：交易提示 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 锋龙股份：停牌核查结束，股票19日复牌。 容百科技（维权）：因重大合同公告涉嫌误导性陈述被证监会立案。 容百科技：与宁德时代"1200亿元合同总额"是公司估算得出。 民爆光电：筹划并购厦芝精密和江西麦达，二者深耕PCB制造核心耗材领域。 延江股份：拟购买甬强科技98.54%股权，将业务拓展至集成电路高端电子信息互连材料领域。 天元智能：公司实控人、董事长兼总经理吴逸中被留置。 天铁科技：实控人许吉锭已被变更强制措施为取保候审。 国联民生：2025年净利润同比预增406%左右。 欧科亿：2025年净利润同比预增67.53%—91.96%。 天地源：预计2025年净利润亏损9亿元—13.5亿元。 贵广网络（维权）：预计2025年净利润亏损10.7亿元—13.5亿元。 爱旭股份：预计2025年净利润亏损12亿元—19亿元。 隆基绿能：预计2025年净利润亏损60亿元—65亿元。 通威股份：预计2025年净利润亏损 ...

Core Viewpoint - Several leading photovoltaic companies have announced significant expected losses for 2025, indicating ongoing challenges in the industry due to supply-demand imbalances and rising raw material costs [1][2][3]. Company Summaries - Tongwei Co., Ltd. (通威股份) expects a net loss of 9 billion to 10 billion yuan for 2025, citing unresolved supply-demand issues and rising prices of core raw materials [1]. - Longi Green Energy (隆基绿能) anticipates a net loss of 6 billion to 6.5 billion yuan for 2025, highlighting ongoing low operating rates and increased costs due to rising prices of silver paste and silicon materials [1]. - Aiko Solar Energy (爱旭股份) projects a net loss of 1.2 billion to 1.9 billion yuan for 2025, attributing this to structural overcapacity and sustained low product prices [1]. - TCL Zhonghuan (TCL中环) expects a net loss of 8.2 billion to 9.6 billion yuan for 2025 [2]. - JA Solar Technology (晶澳科技) forecasts a net loss of 4.5 billion to 4.8 billion yuan for 2025, contributing to a total expected loss of over 28.9 billion yuan for these five leading companies [3]. Industry Overview - The photovoltaic industry has faced significant price fluctuations since 2025, leading to widespread losses among companies [4]. - The Chinese government plans to strengthen capacity regulation and manage photovoltaic manufacturing projects to address the ongoing challenges in the industry [4]. - Experts suggest that merely relying on government initiatives may not be sufficient, and additional measures may be necessary to stabilize the industry [4][5]. - The industry has experienced a continuous loss trend for eight quarters, with a 33% reduction in workforce in 2024, and an increase in average interest-bearing debt ratio from 23% to 31% [5].

爱旭股份 预计2025年年度实现归属于母公司所有者的净利润亏损为 12—19亿元 。公司表示， 受行业结构性产能过剩影响，供需失衡状况仍未显著改善，主要产品价格持续处于相对低位， 公司全年经营承压。 此前，已有多家光伏企业公告预亏。 记者丨刘雪莹 冉黎黎 编辑丨曾静娇 昨夜，多家光伏龙头公告业绩预亏。 1月18日晚， 通威股份 业绩预告显示，预计2025年度实现归属于母公司所有者的 净利润亏损 90亿元至100亿元 。 通威股份表示，光伏行业阶段性供需矛盾问题尚未缓解，产业链各环节 开工率下行，白银等部分核心原材料价格持续上涨，产品价格同比继续下跌，行业经营压力仍 然显著。 同日， 隆基绿能 公告， 预计2025年度实现归属于上市公司股东的 净亏损为 60亿元到65亿元 。公司指出，2025年光伏行业供需错配、低价内卷式竞争持续，开工率维持低位，同时国内电 力市场化改革不断深入，海外贸易壁垒持续加剧，光伏企业经营环境严峻复杂。四季度银浆、 硅料成本大幅上涨，显著推升了硅片、电池及组件产品成本，企业经营进一步承压。 据《中国能源报》报道，根据中国光伏行业协会的数据，2025年以来，光伏供应链价格波动明 显， 电 ...

同属于光伏行业的通威股份同样预计"续亏"。公司预计2025年年度实现归属于母公司所有者的净利润约为-90亿元至-100亿元。通威股份指出，公司工业 硅业务在2025年受产能投产爬坡调试以及产品市场价格持续低迷影响，导致公司归属上市公司所有者的净利润亏损同比加剧约9亿元；伴随三季度多晶硅 价格提升，下半年公司多晶硅业务已实现经营性盈利，全年实现同比减亏约6亿元；电池及组件业务销售均价受市场行情影响进一步下跌，硅片—电池— 组件业务合计导致公司归属上市公司所有者的净利润亏损同比加剧约12亿元。此外，公司计提长期资产减值合计约15亿元—20亿元，同比增加约7亿元— 12亿元。 天地源预计2025年年度实现归属于母公司所有者的净利润为亏损9亿元到亏损13.5亿元。公司表示，2025年，受整体房地产行情影响，部分房地产项目存 货出现减值迹象。公司根据项目所处区域及城市的市场环境、产品结构等情况，按照会计准则相关规定，对存货可变现净值进行测试后，拟对部分存货计 提减值准备。受公司房地产项目销售及结转影响，期间营业收入规模降低，对应毛利贡献减少。此外，随着公司存量房地产项目逐步竣工交付，公司在开 发的、符合利息资本化条件的 ...