Group 1 - The core issue is the significant loss reported by Wentech Technology, with a projected net profit loss of 9 to 13.5 billion yuan for 2025, marking the largest loss since the company's listing [3] - The primary reason for the loss is the restricted control over Anshi Semiconductor, leading to a forced one-time write-off of substantial investment losses and asset impairment losses, along with concentrated goodwill impairment risks [3] - The stock price dropped sharply, with Wentech Technology hitting the daily limit down, losing 3.94 yuan and resulting in a market value evaporation of nearly 4.9 billion yuan [2] Group 2 - The incident has sparked widespread concern in the semiconductor industry, with the performance crisis becoming a trending topic on social media platforms, raising fears of a valuation correction across the sector [3] - Significant shareholder reduction has occurred, with the major shareholder, Wuxi Guolian Integrated Circuit Investment Center, completing a phase of share reduction, selling 34.49 million shares for a total cash amount of 1.326 billion yuan, and the reduction is not yet fully executed [3] - There was a collective outflow of funds from the semiconductor sector, with over 13.4 billion yuan net outflow in the morning session, as previous gains of 30% in the sector led to profit-taking, with Wentech Technology being a key stock for this [3]

2天前，闻泰科技发布了三则利空公告。一是预计2025年度归母净利润亏损90亿元—135亿元；二是财务 总监张彦茹辞任，其原定任期到期日为2028年1月；三是更换会计师事务所，由普华永道中天会计师事 务所(下称"普华永道中天")更换为容诚会计师事务所。 1年内，闻泰科技年度审计机构已经换了3家：其2024年度财报由众华会计师事务所出具，2025年10月改 聘普华永道中天，后者已开始对闻泰科技2025年度年审部分进行预审。 经济观察报记者陈月芹 2月2日，闻泰科技（600745）(600745.SH)开盘即一字跌停。 收购完成后，闻泰科技形成了产品集成和半导体两大业务板块。根据2025年三季报，半导体业务贡献营 收约97.5%。而自2024年底以来，产品集成业务收入显著减少，闻泰科技也从2025年开始陆续剥离产品 集成业务。 闻泰科技公告称，2025年第四季度大亏的原因主要是受荷兰相关部门的裁决影响，闻泰科技对子公司安 世半导体的控制权仍暂处于受限状态，报告期内将确认较大金额的投资损失、资产减值损失。 核心资产安世半导体控制权受限以及随之而来的巨额资产减值，让闻泰科技受到重创。据上述业绩预告 估算，闻泰科技仅20 ...

Market Overview - The market experienced significant losses on the first trading day of February, with the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index closing down by 2.48%, 2.69%, and 2.46% respectively, with over 4,600 stocks declining and trading volume shrinking to 2.6 trillion yuan [4][3]. Sector Performance - The non-ferrous metals sector faced a collective downturn, with major stocks like Tongling Nonferrous Metals and Huayou Cobalt hitting the daily limit down, reflecting a broader trend of heavy losses across various non-ferrous commodities [5][15]. - The precious metals market saw silver prices drop significantly, with a decline of over 25% in New York silver futures, indicating a severe sell-off triggered by market dynamics [9][10]. Specific Stock Movements - Wenta Technology faced a dramatic decline, with its net profit projected to drop by 376.52% to 217.68%, leading to a trading halt at the daily limit down. This was attributed to asset impairment related to disputes with Anshi Semiconductor [31]. ETF Market - The ETF market also reflected the bearish sentiment, with major ETFs like the SSE 50 ETF and CSI 500 ETF experiencing sharp declines, particularly the CSI 500 which saw a drop of 6.5% in the afternoon session [27].

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].

谈及业绩变动的原因，闻泰科技表示，2025年第四季度，公司子公司安世半导体有限公司以及安世半导体控股有限公司 收到荷兰经济事务与气候政策部下达的部长令（Order）和阿姆斯特丹上诉法院企业法庭的裁决。截至本报告期末，虽 然上述部长令（Order）被宣布暂停，但企业法庭裁决依旧处于生效状态，公司对安世的控制权仍暂处于受限状态。公 司报告期内预计将确认较大金额的投资损失、资产减值损失，对公司2025年度业绩将造成较大影响。 去年年底，据智通财经报道，自2025年10月中旬恢复出货以来，安世中国已累计出货超过110亿片芯片、供应全球超过 800家客户。针对安世半导体相关争议事项，闻泰科技已在荷兰启动多项法律程序并已提交了争议通知，如果问题在六 个月内得不到解决，公司可能就此寻求国际仲裁，索赔金额可能高达80亿美元。2026年1月份，公司将借助第二次听证 会，重申立场并进行积极维权。 作为国内半导体与消费电子领域的龙头企业，闻泰科技核心业务由半导体和产品集成构成。于2020年被闻泰科技纳入麾 下的荷兰安世半导体，是全球功率分立器件营收前三的IDM龙头，也是闻泰科技半导体业务的核心载体。 产品集成业务曾是闻泰科技的重要 ...

2026.02. 02 本文字数：1200，阅读时长大约2分钟 作者 | 第一财经 郑栩彤 预告公司陷入亏损后，今日闻泰科技（600745.SH）跌停。 | < W | 间员科技(600745) | | | | --- | --- | --- | --- | | 闭市 02-02 15:00:00 通 融 | | | | | 35.46 | 额 4.58亿 股本 12.45亿 市盈 -25.5 | | 万得 | | -10.00% 换 1.04% 市值1441亿 市净 1.30 -3.94 | | | 空口 | | 盯盘 第1次2025年年报业绩预告，公司业绩：续亏。 预测业绩：净利 × | | | | | 分时 五日 日K 日高K 月K 更多 | | | [0] | | 叠加 | | | 盘口 资金 | | 43.34 | 10.00% 卖5 35.50 | | 769 | | | | 卖4 35.49 | 591 | | | | 23 35.48 | 505 | | | | 定2 | 35.47 1879 | | 39.40 | | 0.00% ¥1 35.46 399305 | | | | | 27 | ...

此前闻泰科技表示，荷兰政府以莫须有的"国家安全"为由，对安世半导体实施全球运营冻结，是基于地 缘政治偏见的过度干预。 安世半导体控制权受限一事尚未影响去年第三季度的业绩，该季度闻泰科技净利润10.4亿元，同比增长 279.29%。去年前三季度，闻泰科技净利润15.13亿元。但第四季度业绩就受到明显影响。按照2025年业 绩预告计算，闻泰科技第四季度净利润亏损105.13亿元~150.13亿元。 近两年来，闻泰科技的经营状况波动较大。2024年，闻泰科技亏损28.33亿元。财报称，2024年12月公 司被列入实体清单，公司供应商、客户出于风险规避偏好和谨慎性考虑，倾向于扩大化理解和执行某些 规定，影响公司产品集成业务的采购、研发和销售。 预告公司陷入亏损后，今日闻泰科技（600745.SH）跌停。 闻泰科技上周五晚间发布业绩预告，预计2025年公司净利润亏损90亿元~135亿元。"公司对安世的控制 权仍处于受限状态，该事项对公司报告期内业绩将造成较大影响。"闻泰科技表示，公司报告期内将确 认较大金额的投资损失、资产减值损失，对业绩造成较大影响。 闻泰科技同时表示，由于安世控制权受限导致的一系列影响具有重大不确定 ...

Market Overview - Precious metals experienced a significant crash, with spot silver erasing all gains for the year, plummeting by 14%, while gold fell approximately 10% [2] - International metal prices saw a widespread decline, with notable drops in various commodities [4] Price Movements - New York gold dropped by 9.01% to $1,900.87, platinum fell by 10.40%, copper decreased by 5.75%, and nickel dropped by 8.00% [5] - Domestic futures contracts also hit their limit down [6] Global Market Impact - The crash in gold and silver prices negatively affected global stock markets, with the South Korean stock market falling by 5% and Japan's market initially rising by nearly 2% before closing down over 1% [7] - Major indices in Asia, including the Korean Composite Index and the Nikkei Index, reported declines of over 2% [8][11] Investor Sentiment - Analysts noted that the market's movements reflect a reduction in risk appetite among investors, who are reassessing positions amid high valuations and tightening financial conditions [9] - The selection of Kevin Warsh as the next Federal Reserve Chair is seen as a catalyst for the shift towards a more hawkish monetary policy, contributing to a stronger dollar and impacting commodity markets [9][10] Sector Performance - In the A-share market, all three major indices fell over 2%, with the Shanghai Composite Index down by 2.48% and the Shenzhen Component Index down by 2.69% [11] - The resource sector faced collective adjustments, particularly in precious metals and oil and gas, with several stocks hitting their daily limit down [14] Stock Specifics - In the A-share market, 771 stocks rose while 4652 stocks fell, with notable strength in the electric grid equipment sector and continued gains in liquor stocks [12] - Semiconductor stocks also faced significant declines, with companies like Zhaoyi Innovation and Wentai Technology hitting their daily limit down [16]

闻泰科技 触达跌停，公司预计2025年净亏损90亿元-135亿元，公司对安世的控制权仍暂处于受限状 态。 ...

2月2日，闻泰科技跌停，截至发稿，报35.46元/股，成交1.61亿元，换手率0.36%，总市值441.35亿元。 博时湖北新旧动能转换ETF（159743）基金经理为尹浩。 资料显示，闻泰科技股份有限公司位于广东省深圳市罗湖区黄贝街道新秀社区罗沙路5097号银丰大厦B 座一层，成立日期1993年1月11日，上市日期1996年8月28日，公司主营业务涉及房地产开发与经营;以 智能手机为主的移动互联网设备产品的研发与制造;上游半导体。主营业务收入构成为：智能终端 69.00%，半导体产品30.88%，其他0.12%。 截至发稿，尹浩累计任职时间6年117天，现任基金资产总规模96.69亿元，任职期间最佳基金回报 158.37%， 任职期间最差基金回报-32.87%。 从基金十大重仓股角度 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本 文出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 数据显示，博时基金旗下1只基金重仓闻泰科技。博时湖北新旧动能转换ETF（159743）四季度减持60 ...