Market Performance - The metal new materials sector increased by 1.25% on January 28, with Galaxy Magnet leading the gains [1] - The Shanghai Composite Index closed at 4151.24, up 0.27%, while the Shenzhen Component Index closed at 14342.9, up 0.09% [1] Top Gainers - Galaxy Magnet (300127) closed at 36.68, up 7.88% with a trading volume of 307,500 shares and a transaction value of 1.089 billion [1] - Zhongke Magnet (301141) closed at 64.62, up 6.88% with a trading volume of 117,400 shares and a transaction value of 742 million [1] - Dadi Bear (688077) closed at 35.51, up 5.62% with a trading volume of 91,100 shares and a transaction value of 316 million [1] Sector Fund Flow - The metal new materials sector saw a net inflow of 204 million from institutional investors, while retail investors experienced a net outflow of 88.55 million [2] - The main stocks with significant net inflows included XinKe Materials (600255) with 70.33 million and Tianhe Magnetic Materials (603072) with 69.00 million [3] Notable Decliners - Longda Co. (688231) closed at 31.44, down 3.56% with a trading volume of 70,000 shares and a transaction value of 222 million [2] - Sry New Materials (688102) closed at 42.46, down 2.73% with a trading volume of 236,100 shares and a transaction value of 1.004 billion [2]

Core Viewpoint - The stock of Bowei Alloy has experienced a decline in price and significant net outflow of funds, indicating potential challenges in the market despite its involvement in high-performance materials and renewable energy sectors [1][2]. Group 1: Stock Performance - On January 28, Bowei Alloy's stock rose by 2.03% to 20.56 CNY per share, with a trading volume of 458 million CNY and a turnover rate of 2.48%, resulting in a total market capitalization of 18.879 billion CNY [1]. - Year-to-date, Bowei Alloy's stock price has decreased by 3.79%, with a 10.45% drop over the last five trading days, a 5.03% decline over the last 20 days, and a 5.25% decrease over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Bowei Alloy achieved a revenue of 15.474 billion CNY, reflecting a year-on-year growth of 6.07%, while the net profit attributable to shareholders decreased by 19.76% to 881 million CNY [2]. - Since its A-share listing, Bowei Alloy has distributed a total of 1.694 billion CNY in dividends, with 923 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of January 20, 2025, the number of shareholders for Bowei Alloy reached 60,200, an increase of 7.54% from the previous period, while the average circulating shares per person decreased by 7.02% to 14,685 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 10.8419 million shares, an increase of 5.9259 million shares from the previous period, while the Noan Pioneer Mixed A fund has entered the list as a new shareholder with 8.3159 million shares [3].

Core Viewpoint - The report highlights the significant growth driven by technology in certain sectors, while also noting the substantial losses due to cyclical downturns in others [1] Performance Growth Highlights - **Zhongwei Company (688012)**: Expected net profit between 208 million to 218 million yuan, a year-on-year increase of 28.74% to 34.93%, driven by increased recognition of plasma etching equipment and a surge in market demand [5] - **Lianchuang Optoelectronics (600363)**: Expected net profit between 43.5 million to 53.2 million yuan, a year-on-year increase of 80.36% to 120.57%, attributed to significant growth in laser business and improved profitability in traditional sectors [6] - **Ruixin Microelectronics (603893)**: Expected net profit between 102.3 million to 110.3 million yuan, a year-on-year increase of 71.97% to 85.42%, driven by rapid growth in the AIoT market and recognition of new AI technology [7] - **Sangfor Health (688336)**: Expected net profit around 290 million yuan, a year-on-year increase of approximately 311.35%, due to a significant collaboration with Pfizer and advancements in clinical research [8] - **Pulite (002324)**: Expected net profit growth of 155.76% to 194.73%, driven by the demand for high polymer materials in the automotive lightweight trend [9] - **Tonghua Dongbao (600867)**: Expected net profit around 124.21 million yuan, turning from loss to profit, driven by market share gains in insulin products [10] - **Suotong Development (603612)**: Expected net profit between 73 million to 85 million yuan, a year-on-year increase of 167.98% to 212.03%, due to rising prices and demand in the prebaked anode industry [11] Major Performance Declines - **China Shipbuilding Technology (600072)**: Expected net loss between -260 million to -340 million yuan, a year-on-year decline of over 24 times, due to cyclical downturns in shipbuilding and high material costs [12] - **Silver Nonferrous Metals (601212)**: Expected net loss between -45 million to -67.5 million yuan, transitioning from profit to loss due to legal disputes affecting financial performance [13] - **China Metallurgical Group (601618)**: Expected net profit between 130 million to 160 million yuan, a year-on-year decline of 76.28% to 80.73%, impacted by the downturn in the construction industry [14] - **Jindi Group (600383)**: Expected net loss between -1.11 billion to -1.35 billion yuan, with increased losses due to declining sales and inventory impairments [15] - **Jianfa Co. (600153)**: Expected net loss between -1 billion to -520 million yuan, transitioning from profit to loss due to increased impairments in real estate [16] Industry Trend Analysis - **Technology and Innovation-Driven Sectors**: Companies in semiconductor equipment, laser military applications, and innovative pharmaceuticals are experiencing rapid growth due to high demand in AIoT, national defense, and biomedicine [23] - **Traditional Cyclical Industries**: Sectors like coal and engineering machinery are facing significant adjustments due to demand shortages and price declines, leading to widespread performance pressures [24] - **Pharmaceutical Industry Disparities**: Innovative drugs are seeing explosive growth through external licensing, while traditional formulations and raw materials are significantly impacted by procurement policies [24] - **External Environment Uncertainties**: Factors such as international trade tensions and regulatory changes are significantly affecting corporate performance, necessitating enhanced risk management [24] - **Asset Quality Risks**: Many companies are reporting substantial asset impairment provisions, indicating potential inefficiencies in previous investments [24]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 300855 | 图南股份 | 39.50 | 10.61% | 16.46万 | 6.28亿 | | 688231 | 隆达股份 | 32.60 | 7.24% | 9.28万 | 2.9567 | | 300811 | 铂科新材 | 81.10 | 5.24% | 13.21万 | 10.47亿 | | 603124 | 江南新材 | 96.19 | 3.00% | 2.19万 | 2.07亿 | | 301522 | 上大股份 | 41.53 | 2.34% | 12.67万 | 5.19 Z | | 688786 | 倪安新材 | 31.64 | 2.23% | 3.74万 | 1.17亿 | | 920576 | 天力复合 | 99.86 | 1.88% | 6.36万 | 6.52亿 | | 300835 | 龙磁科技 | 72.07 | 1.69% | 3.27万 | 2.32亿 | | 301323 | 新来福 | 4 58.99 ...

证券日报网讯 1月26日，博威合金在互动平台回答投资者提问时表示，公司在德国设有制造基地，专注 于精密细丝的研发与生产，主要面向欧洲客户。公司就营业收入未对欧盟区域进行细分。 （文章来源：证券日报） ...

Group 1 - The A-share commercial aerospace sector is experiencing a continuous adjustment, with significant declines in stock prices [1] - China Satellite has hit the daily limit down, indicating a severe drop in investor confidence [1] - Other companies such as Bowei Alloys and Runbei Aerospace Technology also faced daily limit down, while companies like Xinke Mobile, Shaoyang Hydraulic, Zhenyou Technology, Aerospace Huanyu, and Chaojie Co. saw declines exceeding 10% [1]

A股商业航天概念盘中持续调整，中国卫星封跌停，此前博威合金、润贝航科跌停，信科移动、邵阳液 压、震有科技、航天环宇、超捷股份等跌超10%。 ...

Summary of the Conference Call for 博威合金 Company Overview - **Company**: 博威合金 (Bohai Alloy) - **Industry**: New Materials and Renewable Energy Key Points Financial Performance and Asset Impairment - In 2025, 博威合金 recognized a total asset impairment of **1.025 billion yuan**, which includes: - Credit impairment losses in the new materials and renewable energy sectors amounting to **19.68 million yuan** - Inventory impairment in the renewable energy sector of **302.97 million yuan** - Impairment related to the Vietnam 3GW solar cell project of **702.56 million yuan** [2][5][6] - The impairment will reduce the company's consolidated profit by approximately **425 million yuan** [4][10] Impact of U.S. Legislation - The U.S. "Inflation Reduction Act" requires that companies can only hold a maximum of **25%** ownership in U.S. renewable energy subsidiaries, which has affected 博威合金's ability to receive federal subsidies [2][3] - Due to high tariffs (307.78%) on solar products exported from Vietnam to the U.S., the company faced challenges in selling its products in the U.S. market, leading to further asset impairments [3][4] Strategic Focus Shift - 博威合金 plans to exit the solar energy sector and concentrate on the development of new materials, including liquid cooling plates and high-speed connectors for electric vehicles [2][9] - The company is actively pursuing the sale of its U.S. solar assets and has potential buyers in negotiations [4][15] - The decision to not expand photovoltaic projects in Morocco was made due to unfavorable market conditions, with a focus now on alloy material production [17] Future Product Development - The new materials segment is expected to see growth, with ongoing collaborations with companies like BYD and Infineon for new product development [11][12] - The company is optimistic about the market potential for new products, including aluminum-copper composite connectors and semiconductor conductive materials [11][12] Communication and Investor Relations - The chairman addressed investor concerns regarding the timing of financial announcements, emphasizing compliance with financial regulations and the importance of transparent communication [8][13] - The company aims to maintain open communication with investors while adhering to confidentiality regulations [13] Market Outlook - Despite challenges in the renewable energy sector, the company remains confident in its core business and the potential for growth in the new materials sector [22] - The company is optimistic about the European market, despite recent economic challenges, and has made management changes to improve operational efficiency [20] Cash Flow and Future Plans - Cash recovered from the sale of U.S. solar assets will be used to replenish working capital and repay debts, with a commitment to prudent investment practices [14][18] - The company has completed impairment provisions for all relevant assets, ensuring no further impact on cash flow [20] Conclusion - 博威合金 is strategically repositioning itself to focus on new materials, navigating regulatory challenges in the renewable energy sector while maintaining a commitment to innovation and operational excellence [22]

Core Viewpoint - The company, Bowei Alloy, has announced a significant decline in its expected net profit for the year 2025, projecting a decrease of approximately 92.61% to 88.92% compared to the previous year [1] Financial Performance - The projected net profit attributable to shareholders for 2025 is estimated to be between 100 million to 150 million yuan [1] - This represents a decrease of 1.2535442 billion to 1.2035442 billion yuan compared to the same period last year [1]

证券日报网讯1月23日，博威合金（601137）在互动平台回答投资者提问时表示，截至2026年1月20日， 公司股东户数为60211户。 ...