Market Overview - The television broadcasting sector increased by 0.6% compared to the previous trading day, with Liujin Technology leading the gains [1] - The Shanghai Composite Index closed at 4122.58, up 0.14%, while the Shenzhen Component Index closed at 14327.05, up 0.5% [1] Stock Performance - Liujin Technology (code: 920021) closed at 11.50, up 5.99% with a trading volume of 691,900 shares and a transaction value of 810 million yuan [1] - Other notable stocks include: - Haizhu Co., Ltd. (code: 301262) closed at 26.39, up 1.46% [1] - Oriental Pearl (code: 600637) closed at 11.87, up 1.45% [1] - Huashu Media (code: 000156) closed at 8.20, up 1.23% [1] - Jiangsu Cable (code: 600959) closed at 3.70, up 1.09% [1] Capital Flow - The television broadcasting sector experienced a net outflow of 50.0731 million yuan from institutional investors, while retail investors saw a net inflow of 60.9011 million yuan [2] - The capital flow for key stocks includes: - Oriental Pearl had a net inflow of 64.6997 million yuan from institutional investors [3] - Liujin Technology saw a net inflow of 38.8144 million yuan from institutional investors [3] - Haizhu Co., Ltd. had a net inflow of 10.1151 million yuan from institutional investors [3]

从资金流向上来看，当日电视广播板块主力资金净流入1.03亿元，游资资金净流入3808.87万元，散户资 金净流出1.41亿元。电视广播板块个股资金流向见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 920021 | 流金科技 | 10.85 | -4.74% | 59.88万 | 6.45 乙 | | 600831 | 广电网络 | 4.27 | -4.26% | 28.35万 | 1.21亿 | | 301551 | 无线传媒 | 34.80 | -1.78% | 5.59万 | 1.95亿 | | 000665 | 湖北广电 | 5.59 | -1.24% | 1 25.50万 | 1.43亿 | | 000156 | 华数传媒 | 8.10 | -0.86% | 20.65万 | 1.68 Z | | 600637 | 东方明珠 | 11.70 | -0.85% | 128.87万 | 15.18亿 | | 300770 | 新媒股份 | 45.20 | -0.77% | 3.8 ...

证券日报网讯1月20日，贵广网络（600996）在互动平台回答投资者提问时表示，公司股票在二级市场 的交易情况由多种市场因素共同作用，公司不掌握二级市场量化交易的相关信息。公司持续关注相关动 态，如有相关重大情况，公司将严格按照监管要求履行信息披露义务，维护市场公平秩序。 ...

Group 1 - The company is responding to challenges such as changes in the industry environment and intensified market competition by enhancing its core competitiveness and improving operational performance [2] - The company aims to strengthen communication with investors as part of its strategy to increase company value [2] - The company has stated that it does not involve any undisclosed matters that should be disclosed [2]

证券日报网讯 1月20日，贵广网络在互动平台回答投资者提问时表示，公司在定期报告的"股份变动及 股东情况"中披露前10名股东持股情况。公司不掌握二级市场量化交易的相关信息。公司持续关注相关 动态，如有相关重大情况，公司将严格按照监管要求履行信息披露义务，维护市场公平秩序。 （编辑 楚丽君） ...

（文章来源：证券日报） 证券日报网讯 1月20日，贵广网络在互动平台回答投资者提问时表示，公司始终高度重视市值管理，未 来将继续通过提升经营效益和信息披露质量等举措，持续提升公司长期投资价值，维护公司及广大投资 者的利益。公司业绩考核将严格遵循并执行上级主管部门的最新政策规定与指导方针，确保与国资监管 要求保持一致。 ...

Core Viewpoint - The stock price fluctuations of the company are influenced by a combination of macroeconomic environment and industry development cycles [2] Group 1: Company Management and Strategy - The management team is diligent and committed to their responsibilities, focusing on protecting shareholder interests [2] - The company aims to enhance its operational management and competitiveness [2] - Future efforts will concentrate on core business responsibilities while actively responding to market changes to achieve steady development [2] Group 2: Commitment to Investors - The company is dedicated to delivering good operational performance to reward investors [2]

Core Viewpoint - Guizhou Provincial Broadcasting and Television Information Network Co., Ltd. (Guizhou Network) is expected to incur a net loss of between 1.07 billion to 1.35 billion yuan in 2025 due to intensified market competition and a decline in traditional cable television business [2] Group 1: Financial Performance - The company anticipates a net profit loss of 1.35 billion to 1.07 billion yuan for 2025, primarily due to increased market competition and a general downturn in the industry [2] - Guizhou Network has experienced continuous losses for five consecutive years from 2020 to 2024, with a focus on improving cash flow and profitability in its government enterprise business [4] Group 2: Market Competition - The cable television business faces fierce competition from various rivals, particularly mobile short videos, IPTV, and OTT platforms, which have significantly impacted traditional cable services [2] - As of the end of 2024, there were 209 million cable television users and 409 million IPTV users in China, indicating a shift towards new media and broadband networks [3] Group 3: Business Strategy - The company aims to emphasize profit, cash flow, and customer growth in its government enterprise business while reducing less profitable projects [4] - Guizhou Network is exploring market expansion through a "cultural + technology + tourism + service" model, integrating resources for better outreach and brand collaboration [4] Group 4: Accounts Receivable - The company has maintained accounts receivable around 3 billion yuan, with a plan to improve collection efforts by establishing a dedicated team and tailored strategies for different debts [3] - As of the third quarter of 2025, accounts receivable stood at 2.808 billion yuan, highlighting the need for effective debt recovery measures [3] Group 5: Corporate Developments - There have been rumors regarding a potential merger with Guizhou Xijiu, although the company has repeatedly clarified that it does not involve restructuring with the liquor industry [5] - In December 2025, the company appointed a new chairman, Dai Qingsong, who has a background in various leadership roles prior to joining Guizhou Network [5]

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]

Economic Information - Several smartphone manufacturers, including Xiaomi, OPPO, vivo, and Transsion, have lowered their annual shipment forecasts, with Xiaomi and OPPO reducing by over 20%, vivo by nearly 15%, and Transsion to below 70 million units [2] - Silver prices have surged over 50% in one month and over 150% in six months, impacting the photovoltaic industry, which consumes a significant amount of silver. The cost of raw materials for solar cells has increased by nearly 20% due to rising silver prices [2] - The company Xibei is expected to incur cumulative losses exceeding 600 million yuan from September 2025 to March 2026, leading to the closure of 102 stores, accounting for 30% of its total outlets [2] Company Alerts - Shenghong Technology anticipates a net profit increase of 260%-295% year-on-year for 2025, although Q4 performance fell short of expectations [4] - Cambridge Technology expects a net profit increase of 51%-67% year-on-year for 2025, with Q4 results also below expectations [4] - Multiple companies, including Weimait and Youyan Silicon, have announced plans to reduce their shareholdings by up to 4.98% and 3% respectively [4][11] Overseas Alerts - The three major U.S. stock indices collectively declined last Friday, with the Nasdaq China Golden Dragon Index dropping by 1.15%. Notable declines were seen in Chinese stocks such as Alibaba and JD.com [5] - The European Union is considering imposing tariffs on U.S. goods worth 93 billion euros in response to U.S. tariffs on eight European countries, which could take effect on February 6 if no agreement is reached [5]