Core Viewpoint - Dingxin Communication (603421.SH) is expected to report a net loss attributable to shareholders of the parent company ranging from 540 million to 640 million yuan for the fiscal year 2025 due to significant impacts from business restrictions and market conditions [1] Group 1: Financial Performance - The company anticipates a net loss of 540 million to 640 million yuan for the fiscal year 2025 [1] - The decline in revenue is primarily attributed to restrictions on bidding qualifications imposed by State Grid Corporation of China, affecting the company's power bidding business [1] Group 2: Business Operations - The company's bidding qualifications with Southern Power Grid Co., Ltd. are expected to be restored only by early November 2025, leading to substantial impacts on annual bidding operations [1] - The company's fire safety business has also experienced a significant revenue decline due to ongoing adjustments in the real estate sector [1] Group 3: Research and Development - Despite the anticipated losses, the company continues to prioritize research and development investments to support future growth [1]

Core Viewpoint - Dingxin Communications (603421.SH) is expected to report a net profit attributable to shareholders of the parent company ranging from -540 million to -640 million yuan for the year 2025 [1] Financial Performance - The company anticipates a net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, to be between -54 million and -64 million yuan for the year 2025 [1]

Core Viewpoint - Dingxin Communications (603421.SH) is expected to report a net loss attributable to shareholders of the parent company ranging from 540 million to 640 million yuan for the year 2025 [1] Financial Performance - The company anticipates a net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, to be between -540 million yuan and -640 million yuan for the year 2025 [1]

Financial Performance Expectations - The company expects a net profit attributable to shareholders of the parent company for 2025 to be between -540 million and -640 million yuan[3]. - The expected net profit attributable to shareholders after deducting non-recurring gains and losses is also projected to be between -540 million and -640 million yuan[5]. - The previous year's net profit attributable to shareholders was -242.39 million yuan[7]. - The previous year's net profit after deducting non-recurring gains and losses was -244.25 million yuan[8]. - The earnings per share for the previous year was -0.37 yuan[9]. Reasons for Expected Loss - The primary reason for the expected loss is the company's bidding business being restricted due to being on the blacklist of the State Grid Corporation, significantly impacting revenue[10]. - The fire protection business has also been adversely affected by the ongoing adjustments in the real estate industry, leading to a significant decline in revenue[10]. Commitment to Future Development - The company continues to maintain a strong focus on R&D investment despite the expected losses, indicating a commitment to future development[10]. Financial Data Caution - The financial data in the earnings forecast has not been audited by a registered accountant, and investors are advised to be cautious[11]. - The forecast data is preliminary and the final audited financial data will be disclosed in the official 2025 annual report[12].

Summary of Key Points Core Viewpoint - Dingxin Communications (603421.SH) experienced a stock price decline of 3.23%, closing at 7.20 yuan, indicating the stock is currently in a state of loss since its initial public offering (IPO) [1]. Group 1: Initial Public Offering - Dingxin Communications was listed on the Shanghai Stock Exchange on October 11, 2016, with a total of 43,400,000 shares issued at a price of 14.02 yuan per share [1]. - The total amount raised from the IPO was 608,468,000 yuan, with a net amount of 557,096,412.45 yuan after expenses [1]. - The IPO was approved by the China Securities Regulatory Commission (CSRC) on September 9, 2016, under document number [2016]2061 [1]. Group 2: Convertible Bonds Issuance - In 2018, Dingxin Communications issued 6 million convertible bonds, each with a face value of 100 yuan, totaling 600 million yuan [2]. - The net amount raised from this bond issuance was 583,841,000 yuan after expenses [2]. - This issuance was also approved by the CSRC on January 23, 2018, under document number [2018]185 [2]. Group 3: Profit Distribution and Capital Increase - The total amount raised from both the IPO and the convertible bonds is 1,208,468,000 yuan [3]. - As of June 30, 2020, the company announced a cash dividend of 0.104 yuan per share and a capital increase of 0.4 shares for each existing share, resulting in a total distribution of 48,782,974.76 yuan in cash dividends and an increase of 187,626,826 shares [3]. - After this distribution, the total share capital increased to 656,693,891 shares [3].

Group 1 - The company Dingxin Communications is facing legal issues due to violations related to information disclosure and short-term trading of its stock, leading to a lawsuit from investors [1][4] - The company received a notice from the China Securities Regulatory Commission (CSRC) regarding an investigation into its vice president for suspected short-term trading [1][4] - A recent court ruling has favored investors in their claims against Dingxin Communications, with a high probability of success for similar cases due to the principle of "same case, same judgment" [1][4] Group 2 - The lawsuit stems from Dingxin Communications' failure to timely disclose significant events, including the initiation of a "circuit breaker mechanism" by the State Grid, which affected the company's procurement eligibility [2][5] - The company was aware of the circuit breaker mechanism on February 27, 2024, but did not disclose this information until March 29, 2024, despite its significant impact on revenue [2][5] - Additionally, the company's actual controller's divorce and the subsequent asset division were concealed for seven years, with disclosure only occurring on April 3, 2024 [2][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]

Group 1 - Shanghai's "14th Five-Year Plan" suggests strengthening agile layout in fields such as quantum technology, brain-computer interfaces, controllable nuclear fusion, biomanufacturing, and sixth-generation mobile communication [1] - The storage chip price increase trend is expected to continue until 2026 [1] - The commercial aerospace company, China Aerospace Science and Technology Corporation, has completed its listing guidance [2] Group 2 - Shenghong Technology anticipates a net profit increase of 260% to 295% year-on-year for 2025, although Q4 performance fell short of expectations [2] - The announcement from Bawei Storage indicates that its wafer-level advanced packaging manufacturing project is still in the sample verification stage [2] - Dingshin Communications is under investigation by the China Securities Regulatory Commission for suspected short-term trading of its stock by shareholder Yuan Zhishuang [2]

Core Viewpoint - The company Dingxin Communication (603421) is under investigation by the China Securities Regulatory Commission (CSRC) due to allegations of short-term trading of its stock by its Vice President Yuan Zhishuang, which is not expected to significantly impact the company's daily operations [2]. Group 1: Investigation Details - Yuan Zhishuang received a notice from the CSRC regarding the investigation based on the Securities Law and Administrative Penalty Law of the People's Republic of China [2]. - The company stated that it will cooperate with the CSRC during the investigation and will fulfill its information disclosure obligations as required by law [2]. Group 2: Shareholding and Trading Activities - As of October 16, 2025, Yuan Zhishuang planned to reduce his shareholding by up to 2.16 million shares, representing 0.34% of the total share capital, through block trades and centralized bidding from November 6, 2025, to February 6, 2026 [2]. - By November 29, 2025, Yuan had reduced his holdings by 610,000 shares, with a total amount of 4.85 million yuan, and he held 823,790 shares, or 1.26% of the total shares [3][4]. - The reduction occurred at a price range of 7.87 to 8.10 yuan per share, with the average trading price being 7.98 yuan for the shares sold [4]. Group 3: Recent Trading Activity - On November 27, 2025, Yuan Zhishuang repurchased 200,000 shares at an average price of 8.06 yuan per share after selling shares on November 25 and 26 [4][6]. - As of January 16, 2026, the stock price was reported at 7.44 yuan per share, indicating a loss of 8.33% on the repurchased shares [6].