证券代码：603978 证券简称：深圳新星 公告编号：2026-005 深圳市新星轻合金材料股份有限公司 关于对外担保进展的公告 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： 担保对象及基本情况 | | 被担保人名称 | | 新星轻合金材料（洛阳）有限公司（以下 | | --- | --- | --- | --- | | 担保对象 | | 简称"洛阳新星"） | | | | 本次担保金额 | 万元 3,000.00 | | | （一） | 实际为其提供的担保余额 | 85,483.03 | 万元 | | | 是否在前期预计额度内 | □√是 □否 | □不适用 | | | 本次担保是否有反担保 | □是 □√否 | □不适用 | | 担保对象 | 被担保人名称 | 下简称"公司"） | 深圳市新星轻合金材料股份有限公司（以 | | | 本次担保金额 | 28,300.00 | 万元 | | （二） | 实际为其提供的担保余额 | 万元 7,900.00 | | | | 是否在前期预计额度内 | □√ 是 □否 ...

Core Viewpoint - The lithium hexafluorophosphate sector experienced a significant surge, with multiple companies reaching their daily price limits, indicating strong market interest and potential investment opportunities [1] Group 1: Market Performance - The lithium hexafluorophosphate sector saw a notable increase, with companies such as Yongtai Technology and Tianji Co., Ltd. hitting the daily limit up [1] - Other companies like Molybdenum and Tianqi Materials also showed substantial gains, reflecting a positive trend in the sector [1] Group 2: Key Companies - Yongtai Technology and Tianji Co., Ltd. were highlighted for their impressive stock performance, reaching the maximum allowable increase in a single trading day [1] - Other notable performers included Molybdenum, Tianqi Materials, Hongyuan Pharmaceutical, and Shenzhen New Star, which also recorded significant price increases [1]

Key Insights on Infrastructure Investment Opportunities - A seasonal infrastructure construction boom occurs from the end of the Spring Festival to the conclusion of the National People's Congress, lasting approximately 1-1.5 months, presenting significant investment opportunities[2] - The report identifies 10 strong sub-sectors with high odds and win rates, including engineering consulting services, environmental equipment, environmental governance, general equipment, specialized engineering, non-metallic materials, new metallic materials, specialized equipment, decoration, and plastics, with average returns of 12-15% and excess returns of 4-8% over the past decade[2][10] Selected Stocks from Strong Sub-sectors - The report highlights a portfolio of 18 stocks selected from the 10 strong sub-sectors based on a scoring model, which includes: - Engineering consulting: Qidi Design (average excess return 22.7%, win rate 100%) and Jian Ke Yuan (average excess return 16.4%, win rate 100%)[3][19] - Environmental equipment: Xianhe Environmental (average excess return 11.7%, win rate 90%) and Senyuan Co. (average excess return 12.2%, win rate 80%)[3][20] - Environmental governance: Shanghai Washba (average excess return 36.0%, win rate 100%) and Dechuang Environmental (average excess return 19.1%, win rate 89%)[3][23] - General equipment: Jialitu (average excess return 35.3%, win rate 100%) and Jinyang Sun (average excess return 28.8%, win rate 100%)[3][26] Performance and Risk Considerations - The selected 10 strong sub-sectors have consistently shown high absolute and excess return probabilities, with a stable performance track record over the past decade[10][13] - Risks include limitations of comparative studies, market learning effects leading to volatility, unexpected market downturns, and individual stock risks impacting the overall portfolio[4]

Group 1 - The core viewpoint of the article indicates that Shenzhen Xinxing (603978.SH) expects a net loss attributable to shareholders of the parent company for the year 2025 to be between -69 million and -46 million yuan, which represents a reduction in losses of 222 million to 245 million yuan compared to the same period in 2024 [2] Group 2 - The company explains that the newly launched cold-rolled production line for battery aluminum foil is still in the debugging and capacity ramp-up phase, which has not yet stabilized, leading to low gross profit levels for this business [2] - Additionally, the company's lithium hexafluorophosphate products face dual pressures of weak market demand and intensified competition in the first three quarters of 2025, resulting in persistently low product prices [2] - Although prices for lithium hexafluorophosphate began to rise in October 2025, the impact of earlier low-price orders has compressed the profit margins, preventing a full release of profits in the fourth quarter of 2025 [2]

Core Viewpoint - Shenzhen Xinxing Light Alloy Materials Co., Ltd. expects a net loss for the fiscal year 2025, although the loss is projected to decrease compared to the previous year [2][5]. Group 1: Performance Forecast - The company anticipates a net profit attributable to shareholders of the parent company in the range of -69 million to -46 million yuan for 2025, representing a reduction in loss of 222.17 million to 245.17 million yuan compared to the previous year [2][5]. - The expected net profit attributable to shareholders of the parent company, after deducting non-recurring gains and losses, is projected to be between -73.5 million and -50.5 million yuan [3][5]. Group 2: Previous Year Performance - In the previous year, the total profit was -280.51 million yuan, with a net profit attributable to shareholders of the parent company at -291.17 million yuan, and a net profit after deducting non-recurring gains and losses at -303.87 million yuan [7]. Group 3: Reasons for Performance Decline - The primary reasons for the anticipated loss include the new battery aluminum foil cold-rolled production line being in the debugging and capacity ramp-up phase, leading to low gross margins until stabilization in Q4 2025 [7]. - The lithium hexafluorophosphate product faced weak market demand and intensified competition, resulting in sustained low prices. Although prices began to rise in October, previous low-price orders affected profitability in Q4 [7].

Group 1 - The company Shenzhen New Star announced an expected net profit attributable to the parent company for the year 2025 to be between -69 million to -46 million yuan, indicating a reduction in losses compared to the previous year by 222.173 million to 245.173 million yuan [1] - The net profit attributable to the parent company, excluding non-recurring gains and losses, is projected to be between -73.5 million to -50.5 million yuan for the year 2025 [1]

Core Viewpoint - Shenzhen New Star (603978.SH) expects a reduction in losses for the fiscal year 2025, projecting a net profit attributable to shareholders of the parent company between -69 million and -46 million yuan, which represents a decrease in losses of 222.173 million to 245.173 million yuan compared to the previous year [1] Financial Projections - The company anticipates a net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, to be between -73.5 million and -50.5 million yuan for the fiscal year 2025 [1]

Core Viewpoint - Shenzhen New Star has announced a projected net loss for the fiscal year 2025, estimating a loss between 69 million to 46 million yuan due to operational challenges and market pressures in its key product lines [1] Group 1: Financial Performance - The company expects a net profit attributable to shareholders of the parent company to be between -69 million yuan and -46 million yuan for the year 2025 [1] - The low profitability is attributed to the new battery aluminum foil cold-rolled production line, which is still in the debugging and capacity ramp-up phase, leading to low material yield until stabilization in Q4 2025 [1] Group 2: Market Conditions - The lithium hexafluorophosphate product faced weak market demand and intensified competition in the first three quarters, resulting in sustained low product prices [1] - Although prices for lithium hexafluorophosphate began to rise in October, the impact of previously low-priced orders limited profit realization in Q4, compressing the product's profit margins [1]

Financial Performance Expectations - The company expects a net profit attributable to shareholders of the parent company for 2025 to be between -69 million and -46 million RMB, representing a reduction in losses of 222.17 million to 245.17 million RMB compared to the previous year[2]. - The estimated net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be between -73.5 million and -50.5 million RMB for 2025[3]. - The total profit for the previous year was -280.51 million RMB, with a net profit attributable to shareholders of -291.17 million RMB[5]. - The company reported a loss per share of -1.70 RMB for the previous year[5]. Reasons for Expected Losses - The main reasons for the expected losses include the new battery aluminum foil cold-rolled production line being in the debugging and ramp-up phase, leading to low gross margins[6]. - The lithium hexafluorophosphate product faced weak market demand and intensified competition, resulting in sustained low prices, which compressed profit margins despite price increases starting in October[6]. Audit and Forecast Information - The company has communicated the preliminary forecast with the annual audit accounting firm, but it has not yet been audited[7]. - The forecast is based on preliminary calculations and may be subject to changes if significant events occur after the balance sheet date[7]. - The data provided is preliminary and the final audited financial data will be disclosed in the official 2025 annual report[8].

Core Viewpoint - The company Shenzhen New Star anticipates a net loss attributable to shareholders of the parent company for the fiscal year 2025, ranging from -69 million to -46 million yuan, indicating a reduction in losses compared to the previous year [1] Financial Performance - The expected net loss represents a decrease in losses by 222.17 million to 245.17 million yuan compared to the same period last year [1] - The net profit after deducting non-recurring gains and losses is projected to be between -73.5 million and -50.5 million yuan [1] - The previous year's net loss attributable to shareholders was -291.17 million yuan [1] Operational Challenges - The anticipated losses are primarily due to the instability in the new production line and the compressed profit margins of lithium hexafluorophosphate products [1]