Group 1 - Tianqi Co., Ltd. has entered the brain-computer interface (BCI) sector by investing in Suzhou Huahui Chip, focusing on high-density flexible neural electrode technology, achieving animal testing stages, and becoming a key player in domestic BCI hardware localization. The developed flexible neural electrode has 1024 channels, with signal acquisition precision and anti-interference capabilities at an internationally advanced level. The company has also completed biocompatibility surface modification technology to reduce inflammation after electrode implantation, with core patents authorized by the National Intellectual Property Administration [1][2][3] - Innovation Medical, through its subsidiary Boling Brain Machine, is one of the first companies in China to commercialize BCI rehabilitation products. The core product, Cyberlink AC5, was officially launched in October 2025, generating sales revenue of 114,000 yuan in 2025. Another product, Cyberlink AM5, has completed multi-center clinical trials and is progressing through the approval process. The company plans to establish five additional clinical cooperation centers to accelerate the application of BCI technology in treating neurological diseases [4][5][6] - iFlytek is a leading company in the non-invasive BCI field, leveraging its artificial intelligence technology to develop BCI collaborative technology. The company has established long-term partnerships with universities for research and development. Its non-invasive BCI system has been piloted in 120 schools nationwide, improving student attention by 30%. In the medical field, a collaboration with Beijing Tiantan Hospital has achieved a 92% accuracy rate in identifying abnormal brain signals for epilepsy [7][8][9] Group 2 - Jiahe Intelligent focuses on the research and mass production of BCI hardware, particularly EEG acquisition devices and core components, serving both consumer and medical-grade markets. The company has achieved large-scale production of EEG acquisition headphones with a signal recognition accuracy of 92%, primarily used in sleep monitoring and attention training. It plans to expand into overseas BCI hardware markets by 2026 [10][11][12] - Tom Cat is the first company in China to apply BCI technology in consumer scenarios, focusing on interactive games and rehabilitation training products. The company launched a mind-controlled game product in 2025, which quickly gained over 500,000 users. It also collaborates with rehabilitation institutions to develop BCI rehabilitation training systems, showing a 35% average improvement in patient motor function scores [13][14][15] - Hanwei Technology, through its subsidiary Weisheng Technology, is a leading company in the EEG sensor field, with an annual shipment of over 2 million units. The company has developed an epilepsy early warning system with an 88% accuracy rate in clinical tests. It also focuses on flexible pressure sensors for invasive BCI electrodes, addressing industry pain points [16][17][18] Group 3 - StarNet Ruijie leverages its network communication technology to develop low-power, high-stability EEG signal transmission systems and data encryption modules, becoming a core supplier for BCI data links. The developed transmission system supports real-time transmission of 1024-channel EEG signals with a latency of less than 10ms and a stability of 99.9% [19][20][21] - Yijiahe focuses on the integration of BCI and embodied intelligent robots, exploring applications in smart healthcare. The company has signed a strategic cooperation agreement to develop real-time emotional companionship and brain-controlled robots, enhancing the emotional care capabilities of robots [22][23][24] - Lihua Technology is focused on incubating and investing in the BCI sector, successfully incubating three high-tech companies in the field. The company collaborates with the Shenzhen Institute of Advanced Technology to provide comprehensive services for incubated companies, addressing development pain points [25][26][27] Group 4 - Sanbo Neurosurgery is a leading private hospital in the neurosurgery field, focusing on the clinical application and research of BCI. The company has successfully conducted an interventional BCI surgery, accumulating valuable experience for clinical applications. It is also recruiting participants for ongoing clinical trials [28][29][30] - Shiyun Circuit is a core enterprise in the PCB field, providing customized PCB products for BCI devices. The company focuses on high-density, flexible PCB designs, achieving low signal loss rates below 2% [31][32][33] - Meihua Medical is a leading supplier of core components for BCI, having entered the core supply chain for invasive BCI products. The company has developed components that have passed biocompatibility tests, ensuring long-term stability and safety for implanted devices [34][35][36]

证券日报网讯1月27日，南京熊猫（600775）在互动平台回答投资者提问时表示，截至2026年1月20日， 公司A股股东人数140338户，H股变化不大。 ...

Core Viewpoint - Nanjing Panda Electronics Co., Ltd. is expected to turn a profit in 2025, with a projected net profit of approximately RMB 10 million to RMB 15 million, compared to a loss in the previous year [1] Financial Performance - The company anticipates a net loss attributable to shareholders, excluding non-recurring items, of approximately RMB 2.54 billion to RMB 2.59 billion for 2025 [1] - The completion of the equity transfer of its joint venture, Nanjing Ericsson Panda Communication Co., Ltd., is a significant positive factor contributing to the expected net profit [1] Business Operations - The company's smart manufacturing and power and communication businesses are undergoing a transitional adjustment period, with new customer acquisition not meeting expectations [1] - The related businesses have not yet achieved scaled sales, and the market competition is intensifying, putting pressure on operations [1]

Core Viewpoint - The company, Nanjing Panda Electronics Co., Ltd., forecasts a turnaround in its financial performance for the year 2025, expecting a net profit of approximately 10 million to 15 million yuan, compared to a loss in the previous year [1][2]. Financial Performance Forecast - The company anticipates a net profit attributable to shareholders of approximately 10 million to 15 million yuan for the year 2025, indicating a significant improvement from the previous year's losses [2]. - The expected net profit, excluding non-recurring gains and losses, is projected to be between -25.9 million and -25.4 million yuan for 2025 [3]. Previous Year’s Financial Performance - In the previous year, the total profit was -12.4622 million yuan, with a net profit of -14.14328 million yuan, and a net profit attributable to shareholders of -18.88546 million yuan [5]. - The net profit, after excluding non-recurring gains and losses, was -20.22694 million yuan [5]. - The earnings per share for the previous year were -0.2067 yuan per share [6]. Reasons for Performance Changes - The completion of the equity transfer of the joint venture, Nanjing Ericsson Panda Communication Co., Ltd., generated disposal gains, positively impacting the net profit attributable to shareholders [7]. - The company's smart manufacturing and power and communication businesses are undergoing transitional adjustments, with new customer acquisition not meeting expectations, leading to competitive pressures and affecting the net profit excluding non-recurring items [7]. - The company conducted impairment tests on relevant assets in accordance with accounting standards, resulting in credit impairment losses and asset impairment losses that impacted the net profit attributable to shareholders [7].

Group 1 - Huakang Clean announced it is the first candidate for the bid of the Wuhan First Hospital expansion project with a bid amount of 54.88 million yuan and a construction period of 120 days [1] - Hualing Steel's subsidiary plans to invest 449.88 million yuan in a major overhaul project for its coking plant, aiming to address aging issues and restore production capacity over a 19-month construction period [2] - Yinjia Technology expects a net loss of 140 million to 110 million yuan for 2025, compared to a loss of 129 million yuan in the previous year [3] Group 2 - Guochuang High-tech forecasts a net profit of 16 million to 24 million yuan for 2025, recovering from a loss of 58.52 million yuan in the previous year [4] - Shiyi Da anticipates a net profit increase of 31 million to 46 million yuan for 2025, turning around from a loss of 23.41 million yuan last year [5] - Lijun Co. expects a net profit of 48 million to 66 million yuan for 2025, representing a decline of 45.05% to 60.03% compared to the previous year [7] Group 3 - Xindian Pharmaceutical plans to repurchase shares worth 25 million to 50 million yuan for employee stock ownership plans or equity incentives, with a maximum repurchase price of 42 yuan per share [6] - Jingchen Co. has set the initial transfer price for its shares at 82.85 yuan per share, with a total of 13.1 million shares to be transferred to 28 institutional investors [8] - Zejing Pharmaceutical received approval for clinical trials of its innovative cancer immunotherapy drug ZG005 in combination with platinum-based chemotherapy for advanced nasopharyngeal and esophageal squamous cell carcinoma [9] Group 4 - Xingqi Eye Medicine expects a net profit of 662 million to 749 million yuan for 2025, marking a growth of 95.82% to 121.56% compared to the previous year [10] - Liancheng Precision anticipates a net loss of 12 million to 17 million yuan for 2025, reducing its loss from 37.96 million yuan in the previous year [11] - Beidou Star expects a net loss of 230 million to 290 million yuan for 2025, improving from a loss of 350 million yuan last year [13] Group 5 - Qing Shan Paper's affiliate won a bid for a wastewater treatment project worth 51.9 million yuan [15] - Yiling Pharmaceutical forecasts a net profit of 1.2 billion to 1.3 billion yuan for 2025, recovering from a loss of 725 million yuan in the previous year [16] - Huahai Pharmaceutical received a drug registration certificate for its product used in treating depression and obsessive-compulsive disorder [23] Group 6 - Nanjing Panda expects a net profit of 10 million to 15 million yuan for 2025, turning around from a loss of 189 million yuan last year [40] - Rui Sheng Intelligent anticipates a net profit of 33.92 million to 38.40 million yuan for 2025, representing a growth of 112% to 140% compared to the previous year [41] - Jiechang Drive expects a net profit of 395 million to 437 million yuan for 2025, with a growth of 40% to 55% compared to the previous year [43]

Core Viewpoint - Nanjing Panda Electronics Co., Ltd. expects to achieve a net profit attributable to shareholders of approximately RMB 10 million to RMB 15 million in 2025, marking a turnaround from losses in the previous year [1] Financial Performance - The company anticipates a net loss attributable to shareholders, excluding non-recurring gains and losses, of approximately RMB 2.54 billion to RMB 2.59 billion for 2025 [1] - The completion of the equity transfer of its joint venture, Nanjing Ericsson Panda Communication Co., Ltd., is a significant positive factor contributing to the expected net profit [1] Business Operations - The company's smart manufacturing and power and communication businesses are undergoing a transitional adjustment period, with new customer development not meeting expectations [1] - The related businesses have not yet achieved scaled sales, and the market competition is intensifying, putting pressure on operations and affecting the net profit attributable to shareholders, excluding non-recurring gains and losses [1] Asset Management - The company is conducting thorough impairment testing on relevant assets in accordance with the requirements of the Accounting Standards for Enterprises, leading to the recognition of credit impairment losses and asset impairment losses, which will impact the net profit attributable to shareholders [1]

Core Viewpoint - Nanjing Panda (600775.SH) forecasts a net profit attributable to shareholders of approximately 10 million to 15 million yuan for the year 2025, indicating a turnaround from previous losses [1] Group 1: Performance Forecast - The company expects to achieve a net profit of about 10 million to 15 million yuan in 2025, marking a return to profitability [1] - The anticipated profit is significantly influenced by the completion of the equity transfer of its joint venture, Nanjing Ericsson Panda Communication Co., Ltd., which generated disposal gains [1] Group 2: Business Challenges - The company's smart manufacturing and power and communication businesses are undergoing a transitional adjustment period, with new customer acquisition not meeting expectations, leading to a lack of scaled sales [1] - Increased market competition is putting pressure on operations, which negatively impacts the net profit attributable to shareholders after excluding non-recurring gains and losses [1] Group 3: Asset Impairment Testing - The company has conducted thorough impairment testing on relevant assets in accordance with the Accounting Standards for Enterprises, resulting in the recognition of credit impairment losses and asset impairment losses [1] - These impairment losses have had a corresponding effect on the net profit attributable to shareholders [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 不對因本公告全部或任何部份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。 2025年年度業績預告 本 公 告 是 由 南 京 熊 猫 電 子 股 份 有 限 公 司（「公 司」）根 據 香 港 法 例 第571章《證 券 及 期 貨 條 例》第XIVA部 及 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 而 作 出。公 司 董 事 會（「董事會」）及 董 事 會 全 體 成 員 保 證 本 公 告 內 容 不 存 在 任 何 虛 假 記 載、誤 導 性 陳 述 或 者 重 大 遺 漏，並 對 其 內 容 的 真 實 性、準 確 性 和 完 整 性 承 擔 法 律 責 任。 重 要 內 容 提 示： 1. 業 績 預 告 的 具 體 適 用 情 形：淨 利 潤 實 現 扭 虧 為 盈。 – 1 – （二）業績預告情況 （三）本 期 業績預告 數據尚 未 經 ...

Group 1 - The company expects to achieve a net profit attributable to shareholders of approximately 10 million to 15 million yuan for the fiscal year 2025, indicating a turnaround from previous losses [1] - The company anticipates a net profit attributable to shareholders, excluding non-recurring gains and losses, of approximately -259 million to -254 million yuan for the fiscal year 2025 [1]

Financial Performance - The company expects a net profit attributable to shareholders of approximately 10 million to 15 million yuan for the year 2025, marking a turnaround from previous losses [3]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, is projected to be between -259 million and -254 million yuan for 2025 [3]. - In the previous year, the net profit attributable to shareholders was -188.85 million yuan, indicating a significant improvement in performance [5]. Business Operations - The company completed the equity transfer of its joint venture, Nanjing Ericsson Panda Communication Co., which contributed positively to the net profit [7]. - The smart manufacturing and power communication businesses are undergoing a transitional adjustment period, with new customer expansion not meeting expectations, impacting profitability [7]. - The company conducted impairment tests on relevant assets, leading to the recognition of credit impairment losses and asset impairment losses, affecting net profit [7]. Forecast and Risks - The earnings forecast is based on preliminary calculations and has not yet been audited by certified public accountants, highlighting potential risks [8]. - Investors are advised to consider the preliminary nature of the forecast data, which will be finalized in the audited annual report for 2025 [9].