Financial Performance - The company's operating revenue for Q1 2025 was CNY 1,219,411,240.45, representing a 24.41% increase compared to CNY 980,182,506.88 in the same period last year[3]. - Net profit attributable to shareholders increased by 147.38% to CNY 294,461,057.73 from CNY 119,033,432.68 year-on-year[3]. - The basic and diluted earnings per share rose to CNY 0.18, a 125.00% increase from CNY 0.08 in the previous year[3]. - Operating profit for Q1 2025 was ¥388,530,529.72, up from ¥150,950,859.91 in Q1 2024, reflecting a growth of 157.5%[21]. - Net profit attributable to shareholders of the parent company for Q1 2025 was ¥294,461,057.73, compared to ¥119,033,432.68 in Q1 2024, marking an increase of 147.0%[22]. - Earnings per share for Q1 2025 was ¥0.18, compared to ¥0.08 in Q1 2024, indicating a 125% increase[22]. Cash Flow - The net cash flow from operating activities improved by 56.19%, reaching CNY -795,847,623.87, compared to CNY -1,816,570,317.91 in the same period last year[3]. - In Q1 2025, the cash inflow from operating activities was CNY 1,130,770,280.80, a significant increase from CNY 320,558,785.33 in Q1 2024, representing a growth of approximately 253%[24]. - The net cash flow from operating activities for Q1 2025 was -CNY 795,847,623.87, an improvement compared to -CNY 1,816,570,317.91 in Q1 2024[24]. - The cash inflow from investment activities in Q1 2025 was CNY 1,109,220,314.18, compared to CNY 136,835,757.90 in Q1 2024, marking an increase of about 711%[25]. - The net cash flow from investment activities for Q1 2025 was CNY 221,900,006.00, a recovery from -CNY 506,456,269.36 in Q1 2024[25]. - The cash inflow from financing activities in Q1 2025 totaled CNY 4,198,524,974.24, up from CNY 3,210,415,807.73 in Q1 2024, indicating a growth of approximately 31%[25]. - The net cash flow from financing activities for Q1 2025 was CNY 1,101,320,450.45, a decrease from CNY 2,176,212,722.95 in Q1 2024[25]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 58,834,100,366.87, a decrease of 0.96% from CNY 59,402,514,993.98 at the end of the previous year[4]. - Total current assets as of March 31, 2025, amount to RMB 23,212,696,374.73, a decrease from RMB 23,800,541,233.37 as of December 31, 2024[15]. - Total liabilities decreased to RMB 29,339,610,785.87 from RMB 30,895,932,344.81, reflecting a reduction of approximately 5.0%[16]. - Total liabilities decreased to ¥39,469,953,539.77 from ¥41,008,919,238.36 year-over-year, a reduction of 3.8%[21]. - The company maintained a stable financial position with non-current liabilities totaling ¥22,916,021,822.62, down from ¥23,889,277,417.62[21]. - The company's total equity as of March 31, 2025, was CNY 8,710,779,268.29, up from CNY 8,069,667,585.22 at the end of 2024, indicating a growth of about 7.9%[29]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 183,932[11]. - The largest shareholder, Shanghai Zhangjiang (Group) Co., Ltd., holds 786,036,600 shares, accounting for 50.75% of total shares[12]. - The company has no significant changes in the top 10 shareholders or their shareholding status compared to the previous period[12]. Investment Income - The company reported a significant increase in investment income by 333.74%, attributed to the rise in fair value of financial assets measured at fair value[8]. - The company reported an investment income of ¥235,539,338.07 in Q1 2025, a recovery from a loss of ¥100,769,686.71 in Q1 2024[21]. - Investment income for Q1 2025 was ¥10,979,635.65, slightly lower than ¥11,736,418.30 in Q1 2024[31]. Other Financial Metrics - The weighted average return on equity improved to 2.15%, an increase of 1.2 percentage points compared to 0.95% last year[3]. - Cash and cash equivalents increased to RMB 3,000,946,973.48 from RMB 2,478,082,355.90, representing a growth of approximately 21.1%[15]. - Accounts receivable rose to RMB 168,415,647.36 from RMB 107,394,164.00, indicating a growth of about 56.8%[15]. - Short-term borrowings increased significantly to RMB 3,691,400,000.00 from RMB 2,427,400,000.00, marking an increase of about 52.0%[16]. - The company incurred financial expenses of ¥108,898,355.08 in Q1 2025, down from ¥119,940,793.35 in Q1 2024[31]. - Other comprehensive income after tax for Q1 2025 was a loss of ¥13,545,592.92, contrasting with a gain of ¥3,840,331.35 in Q1 2024[22].

张江高科（600895）公告，2025年第一季度营收为12.19亿元，同比增长24.41%；净利润为2.94亿元， 同比增长147.38%。 ...

Investment Rating - The report assigns an "Overweight" rating for the industry, indicating an expected performance exceeding the CSI 300 Index by more than 15% [2][16]. Core Insights - The implementation of the Free Trade Zone (FTZ) enhancement strategy is expected to drive high-level openness and institutional innovation, leading to the integration of the entire industry chain and breakthroughs in technological innovation, which will enhance property value and rental increases within the zone [4][6]. - The FTZ's strategic policies will attract significant international investment, with a focus on facilitating trade, investment, and the flow of data, thereby enhancing the market's openness and investment environment [6][9]. - The report highlights the importance of technological innovation and financial openness in accelerating industrial innovation and integration within the FTZ, promoting collaborative development across various sectors [6][10]. Summary by Sections FTZ Enhancement Strategy - The strategy aims for a comprehensive improvement in the FTZ's institutional openness and economic quality over the next five years, focusing on trade, investment, and the free flow of data [8][11]. - The strategy will create a more favorable business environment and enhance the FTZ's role as a hub for domestic and international economic circulation [8][10]. Investment Opportunities - Recommended stocks include Zhangjiang Hi-Tech, with supporting stocks such as Pudong Jinqiao, Lujiazui A, Shanghai Lingang, and Shibei Gaoxin, which are expected to benefit from the FTZ's development [6][7]. - The report emphasizes the potential for property value appreciation and increased rental income due to the influx of quality enterprises into the FTZ [6][9]. Policy Innovations - The report outlines various policy innovations, including support for offshore international trade, electronic documentation, and the establishment of arbitration institutions within the FTZ [9][10]. - It also mentions the promotion of digital trade and the facilitation of foreign investment through improved regulatory frameworks [9][11].

关于 2025 年度第一期超短期融资券发行结果公告 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。 上海张江高科技园区开发股份有限公司（以下简称"公司"）于 2023 年 6 月 27 日召开的公司 2022 年度股东大会审议通过了《关于申请发行直接债务融资工 具的议案》，该事项已获得中国银行间市场交易商协会中市协注[2023]SCP264 号 《接受注册通知书》，决定接受公司超短期融资券注册金额为 20 亿元，注册额 度自通知书落款之日起 2 年内有效。公司在注册有效期内可分期发行超短期融资 券，发行完成后，应通过交易商协会认可的途径披露发行结果。 股票代码：600895 股票简称：张江高科 编号：临 2025-010 上海张江高科技园区开发股份有限公司 上海张江高科技园区开发股份有限公司 2025 年 4 月 17 日 公司于近日完成了"上海张江高科技园区开发股份有限公司 2025 年度第一 期超短期融资券"的发行，现将发行结果公告如下： | 债券名称 | 上海张江高科技园区开发股份有限 债券简称 | 25 | 张江高科 ...

主力资金净流出的行业有26个，电子行业主力资金净流出规模居首，全天净流出资金50.39亿元，其次 是电力设备行业，净流出资金为37.67亿元，净流出资金较多的还有计算机、汽车、通信等行业。 房地产行业今日上涨0.19%，全天主力资金净流入1.65亿元，该行业所属的个股共102只，今日上涨的有 32只，涨停的有3只；下跌的有64只，跌停的有1只。以资金流向数据进行统计，该行业资金净流入的个 股有50只，其中，净流入资金超千万元的有14只，净流入资金居首的是天保基建，今日净流入资金 7936.09万元，紧随其后的是我爱我家、金地集团，净流入资金分别为4427.20万元、4372.22万元。房地 产行业资金净流出个股中，资金净流出超千万元的有6只，净流出资金居前的有保利发展、张江高科、 海南高速，净流出资金分别为5419.93万元、1784.24万元、1781.67万元。（数据宝） 房地产行业资金流入榜 | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 000965 | 天保基建 | 10.06 | 6. ...

2025 年第一季度主要经营情况的公告 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。 重要内容提示： 经上海张江高科技园区开发股份有限公司（以下简称"公司"）初步测算，预计2025年第一季度实现归属 于上市公司股东的净利润为 2.7亿元到3.3亿元，与上年同期相比，将增加 1.51亿元到 2.11亿元，同比增 长 127%到177%。 股票代码：600895 股票简称：张江高科 编号：临2025-009 上海张江高科技园区开发股份有限公司 二、上年同期经营情况 （一）归属于上市公司股东的净利润：1.19亿元。 （二）每股收益：0.08元/股。 三、本期经营业绩增长的主要原因 一、本期经营业绩情况 （一）经营期间 2025 年 1 月 1 日至 2025 年 3 月 31 日 （二）经营情况 经上海张江高科技园区开发股份有限公司（以下简称"公司"）初步测算，预计2025年第一季度实现归属 于上市公司股东的净利润为 2.7亿元到3.3亿元，与上年同期相比，将增加 1.51亿元到 2.11亿元，同比增 长 127%到 177%。 ...

Core Viewpoint - A significant number of listed companies in A-shares are expected to report strong earnings growth for the first quarter of 2025, with over 90% of the companies showing positive performance indicators [1] Group 1: Earnings Forecasts - More than 100 listed companies have disclosed their earnings forecasts for Q1 2025, with 60 companies expecting profit increases, 4 maintaining profitability, 11 turning losses into profits, and 21 showing slight increases [1] - Companies like Muyuan Foods expect a net profit of 4.3 billion to 4.8 billion yuan for Q1 2025, recovering from a loss of 2.379 billion yuan in the same period last year [2] - China Shipbuilding Defense anticipates a net profit of 170 million to 200 million yuan for Q1 2025, marking a year-on-year increase of over 1000% [2] - Zhangjiang Hi-Tech expects a net profit of 270 million to 330 million yuan for Q1 2025, representing a year-on-year growth of 127% to 177% [4] Group 2: Industry Performance - The increase in net profits across various sectors, including state-owned enterprises and industry leaders, is attributed to market expansion, increased orders, and cost reduction measures [1] - Companies like Yuedui Co. expect a net profit of 107 million to 127 million yuan for Q1 2025, driven by cost reduction initiatives and rising ore prices [5] - CITIC Securities forecasts a net profit of approximately 6.545 billion yuan for Q1 2025, reflecting a 32% increase year-on-year, primarily due to growth in wealth management and investment trading [5] - Guotai Junan expects a net profit of 11.201 billion to 12.445 billion yuan for Q1 2025, indicating a year-on-year increase of 350% to 400% [5]

股票代码：600895 股票简称：张江高科 编号：临2025-009 上海张江高科技园区开发股份有限公司 2025 年第一季度主要经营情况的公告 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。 重要内容提示： 经上海张江高科技园区开发股份有限公司（以下简称"公司"）初步测算， 预计2025年第一季度实现归属于上市公司股东的净利润为 2.7亿元到3.3亿元， 与上年同期相比，将增加 1.51亿元到 2.11亿元，同比增长 127%到177%。 一、本期经营业绩情况 （一）经营期间 2025 年 1 月 1 日至 2025 年 3 月 31 日 （二）经营情况 经上海张江高科技园区开发股份有限公司（以下简称"公司"）初步测算， 预计2025年第一季度实现归属于上市公司股东的净利润为 2.7亿元到3.3亿元， 与上年同期相比，将增加 1.51亿元到 2.11亿元，同比增长 127%到 177%。 （二）每股收益：0.08元/股。 三、本期经营业绩增长的主要原因 本期业绩增长的主要原因为：1、公司持续加强产业"投资+培育"力度， 全力 ...

☞ 张江高科于近日发布2024年年度报告。公告显示，至2024年12月末，公司资产总额594.03亿元，较年初 增长16.46%。归母净资产147.55亿元，同比增长18.59%。2024年公司营业总收入19.83亿元、投资收益 2.11亿元，实现归属于上市公司股东的净利润9.82亿元。公司一方面持续以上海集成电路设计产业园为 核心，抢抓"产业赛道"布局，深度参与"细分领域赛道""新兴产业赛道"，聚势而为打造新质生产力；另 一方面，产业"投资+培育"持续壮大，通过"直投+基金"多元投资，全力打造科技产业投资控股集团。 更多房地产企业研究报告，"中指云"获取 https://u.fang.com/ytcrnn/ 积极履行国企职责使命，聚势而为打造新质生产力 公司持续以上海集成电路设计产业园为核心，抢抓"产业赛道"布局，深度参与"细分领域赛道""新兴产 业赛道"，拓展出技术能级更高端、产业特征更明显、上下游协同更高效的特色产业园区。其一，是聚 焦产业前沿，坚持强链补链。公司始终关注并支持前沿科技领域的产业投资以及半导体行业发展，持续 加强半导体行业的补链、强链工作，促进张江科学城相关科技产业发展。其二，打造产业专 ...