Core Viewpoint - The semiconductor industry in China is experiencing a significant influx of companies going public in Hong Kong, reflecting strong financing needs and growing confidence in the domestic semiconductor sector [1][3]. Group 1: IPO Activity - Four semiconductor companies have completed their IPOs in Hong Kong since January, including Shanghai Birun Technology Co., Ltd., Shanghai Tianxu Zhixin Semiconductor Co., Ltd., OmniVision Technologies, Inc., and Zhaoyi Innovation Technology Group Co., Ltd. [1] - Over 40 additional semiconductor companies, including ChipX Technology Co., Ltd., are accelerating their IPO processes in Hong Kong, covering various segments of the semiconductor supply chain [1][2]. - As of January 22, more than 300 companies are still in the IPO queue for the Hong Kong market, indicating robust interest in semiconductor listings [2]. Group 2: Investor Confidence - The IPOs of the aforementioned companies have attracted high-quality cornerstone investors, including international long-term funds and venture capital firms, showcasing market confidence in leading domestic semiconductor firms [1][2]. - Notable cornerstone investors for OmniVision include UBS Asset Management (Singapore), Huajin Communications, and others, while Zhaoyi Innovation has attracted 18 cornerstone investors, including the Greater Bay Area Development Fund [2]. Group 3: Market Dynamics - The Hong Kong market tends to assign higher valuation premiums to quality companies, as evidenced by various industry cases [2]. - International long-term funds from Europe, the Middle East, and Singapore are increasingly participating in high-quality semiconductor IPO projects, reflecting growing confidence in the Chinese capital market [2][3]. Group 4: Industry Characteristics - The semiconductor industry is characterized by high R&D costs and long cycles, with the Hong Kong refinancing mechanism effectively meeting ongoing funding needs for companies [3]. - The demand for storage chips is surging due to increased AI inference needs, leading to heightened interest in upstream equipment and materials within the semiconductor supply chain [4]. Group 5: Globalization and Future Outlook - Going public in Hong Kong has become a crucial strategy for semiconductor companies to expand international business and enhance brand influence [5]. - The semiconductor sector is expected to benefit from the AI wave, with increasing recognition of Chinese tech stocks, particularly in the semiconductor space, anticipated to create multiple investment opportunities [5]. - The competitive structure within the semiconductor equipment sector is becoming clearer and more stable, with potential for above-expectation performance in the next two years [5].

Group 1: Company Fundraising and Investment - Company plans to use 500 million yuan of raised funds to increase capital in its wholly-owned subsidiaries for the implementation of a DRAM investment project [1] - Zhuhai Hengqin Chip Storage Co., Ltd. will receive 30 million yuan, and Hefei Chip Storage Co., Ltd. and Xi'an Chip Storage Co., Ltd. will receive 50 million yuan and 30 million yuan respectively for the DRAM project [1] Group 2: Profit Forecasts and Turnarounds - Yiling Pharmaceutical expects a net profit of 1.2 billion to 1.3 billion yuan in 2025, recovering from a loss of 725 million yuan in the previous year [2] - Liard anticipates a net profit of 300 million to 380 million yuan in 2025, compared to a loss of 889 million yuan last year, driven by a new strategic cycle focusing on AI [2] - Daming City forecasts a net profit of 140 million to 165 million yuan in 2025, recovering from a loss in the previous year, aided by reduced asset impairment losses [3] - Guanghua Technology expects a net profit of 85 million to 120 million yuan in 2025, recovering from a loss of 205 million yuan last year, due to expansion in specialized chemicals and PCB sectors [3] - Boteng Co. anticipates a net profit of 80 million to 105 million yuan in 2025, recovering from a loss of 288 million yuan, supported by operational efficiency improvements [4] - Shiyida expects a net profit of 31 million to 46 million yuan in 2025, recovering from a loss of 2.34 million yuan last year, driven by business development and cost control [4] - Guochuang High-tech forecasts a net profit of 16 million to 24 million yuan in 2025, recovering from a loss of 49 million yuan, aided by improved receivables management [5][6] Group 3: Share Buybacks - Hengyi Petrochemical plans to repurchase shares with a total fund of no less than 500 million yuan and no more than 1 billion yuan, with a maximum price of 15 yuan per share [7] - Yunyi Electric plans to repurchase shares with a total fund of no less than 100 million yuan and no more than 150 million yuan, with a maximum price of 17 yuan per share [7] - Xidian Pharmaceutical intends to repurchase shares with a total fund of no less than 25 million yuan and no more than 50 million yuan, with a maximum price of 42 yuan per share [7] Group 4: Performance Highlights - Te Yi Pharmaceutical expects a net profit of 70 million to 90 million yuan in 2025, a growth of 241.55% to 339.13% year-on-year [8] - Xingqi Eye Medicine anticipates a net profit of 662 million to 749 million yuan in 2025, a growth of 95.82% to 121.56% year-on-year [8] - Tianhe Co. forecasts a net profit of 41 million to 60 million yuan in 2025, a growth of 84.35% to 169.78% year-on-year [8] - Ruichuang Micro-Nano expects a net profit of approximately 1.1 billion yuan in 2025, a 93% increase year-on-year [9] - Zhongyuan Co. anticipates a net profit of 139 million to 158 million yuan in 2025, a growth of 80% to 105% year-on-year [9] Group 5: Important Corporate Developments - Aolaide has received acceptance for its application to issue securities on the Science and Technology Innovation Board [14] - *ST Songfa's subsidiary signed contracts for the construction of two VLCC super-large oil tankers, expected to positively impact future performance [15] - Chongda Technology's subsidiary signed an investment agreement for a 1 billion yuan IC packaging project in Jiangsu Province [15] - Yinglian Co. signed a strategic agreement with LG Chem to establish a joint laboratory for innovative materials in lithium battery applications [16]

北京商报讯（记者 宋亦桐）2026年初，港股市场迎来新一轮新股上市潮，一批硬科技赛道企业密集登 陆港交所，成为资本关注的焦点。在此背景下，理财公司以基石投资者、锚定投资者身份强势入局，开 启了权益投资能力升级的全新阶段。1月22日，北京商报记者注意到，部分理财公司在此轮港股打新中 战绩斐然。工银理财披露的10笔港股IPO投资实现100%正收益胜率，投资标的覆盖半导体、人工智能、 生物医药、高端装备等核心赛道。分析人士指出，当前阶段，理财公司参与港股IPO仍以试点和项目制 运作为主，但中长期来看，这一实践有望逐步演进为制度化、产品化、策略化的权益配置路径。 2026年开年不到一个月，壁仞科技、MINIMAX等硬科技企业接连登陆港股IPO，点燃市场热情。港股 IPO的火热，为手握重金的理财公司提供了全新的投资舞台，头部理财公司的布局，也在此次新股潮中 收获了丰厚的回报。 普益标准研究员屈颖指出，理财公司参与港股IPO，尤其是作为基石/锚定投资者，既能直接获取新股配 售带来的超额收益，也可倒逼机构在投前尽调、定价判断和投后跟踪等方面全面提升权益投资能力，推 据工银理财披露的数据，2025年末至2026年初，港股市场 ...

Group 1 - The commercial aerospace industry in China is entering a new phase of reusable liquid rocket technology with the construction of the first offshore liquid rocket launch and recovery test platform in Yantai, Shandong, expected to be completed and tested around February 5 [1] - A mainstream commercial liquid rocket is set to conduct its first offshore launch and recovery test at this platform around the Spring Festival, marking a significant advancement in China's offshore launch capabilities [1] - The third Beijing Commercial Aerospace Industry High-Quality Development Conference and the 2026 Beijing International Commercial Aerospace Exhibition will be held from January 23 to 25, indicating increasing industry attention [1] Group 2 - Extreme cold weather has caused European natural gas benchmark prices to exceed €40 per megawatt-hour for the first time since June, with a rise of 11.5% on January 21 and an annual increase of over 40% [2] - In the U.S., natural gas futures surged by 78% within three days due to increased heating demand and production disruptions, reaching the highest level since December 2022 [2] - The U.S. Energy Secretary called for a significant increase in oil production at the Davos Forum, criticizing EU environmental regulations that hinder energy cooperation between the U.S. and Europe [2] Group 3 - The State Council's Food Safety Office is preparing to publicly solicit opinions on national standards for prepared dishes, which will help address food safety and definition issues in the industry [3] - The establishment of national standards for prepared dishes is expected to provide critical institutional support for the standardized development of the industry, promoting high-quality and orderly growth [3] Group 4 - The storage chip industry is experiencing a new "super cycle" driven by surging demand and supply shortages due to the AI boom, with global storage prices expected to rise significantly [4] - According to招商证券, prices for various storage categories are anticipated to increase more than expected in the first quarter of 2026, maintaining a tight supply throughout the year [4] - The company兆易创新 forecasts a net profit of approximately 1.61 billion yuan for 2025, representing a year-on-year growth of around 46%, with revenues expected to reach about 9.203 billion yuan, a 25% increase [4]

Group 1 - ShenNan Electric A expects a net profit increase of 584.66%-721.59% year-on-year for 2025 [1] - Te Yi Pharmaceutical anticipates a net profit increase of 241.55%-339.13% year-on-year for 2025 [1] - RunTu Co. forecasts a net profit increase of 181.05%-227.89% year-on-year for 2025 [1] - QingSong Co. projects a net profit increase of 137.73%-201.74% year-on-year for 2025 [1] - RuiSheng Intelligent expects a net profit increase of 112.00%-139.99% year-on-year for 2025 [1] - JianKai Technology anticipates a net profit increase of 101.09%-121.20% year-on-year for 2025 [1] - XingQi Eye Medicine forecasts a net profit increase of 95.82%-121.56% year-on-year for 2025 [1] - RuiChuang MicroNano expects a net profit increase of approximately 93% year-on-year for 2025 [1] - TianHe Co. projects a net profit increase of 84.35%-169.78% year-on-year for 2025 [1] - ZhongYuan Co. anticipates a net profit increase of 80%-105% year-on-year for 2025 [1] - YiDao Information expects a net profit increase of 76.04%-128.85% year-on-year for 2025 [1] - ShengDa Bio forecasts a net profit increase of 69.93%-120.90% year-on-year for 2025 [1] - HuaRui Precision anticipates a net profit increase of 68.29%-86.99% year-on-year for 2025 [1] - FangZheng Technology expects a net profit increase of 67.06%-98.14% year-on-year for 2025 [1] - JinLing Hotel projects a net profit increase of 65.37%-90.93% year-on-year for 2025 [1] - QiangYi Co. anticipates a net profit increase of 57.87%-71.17% year-on-year for 2025 [1] - LangBo Technology expects a net profit increase of 57.58%-66.53% year-on-year for 2025 [1] - HuaFeng Measurement and Control forecasts a net profit increase of 46%-78% year-on-year for 2025 [1] - Zhaoyi Innovation anticipates a net profit increase of approximately 46% year-on-year for 2025 [1] - JieChang Drive expects a net profit increase of 40%-55% year-on-year for 2025 [1] - ShengYuan Environmental Protection projects a net profit increase of 31.79%-59.24% year-on-year for 2025 [1] - GuangHa Communication anticipates a net profit increase of 21.83%-31.31% year-on-year for 2025 [1] - MaiHe Co. expects a net profit increase of 19.58%-54.76% year-on-year for 2025 [1] Group 2 - YiLing Pharmaceutical expects a net profit of 1.2 billion to 1.3 billion yuan for 2025, turning profitable year-on-year [1] - LiYade anticipates a net profit of 300 million to 380 million yuan for 2025, turning profitable year-on-year [1] - SiRuiPu expects a net profit of 165 million to 184 million yuan for 2025, turning profitable year-on-year [1] - DaMing City anticipates a net profit of 140 million to 165 million yuan for 2025, turning profitable year-on-year [1] - DaHeng Technology expects a net profit of 106 million yuan for 2025, turning profitable year-on-year [1] - GuangHua Technology projects a net profit of 85 million to 120 million yuan for 2025, turning profitable year-on-year [1] - BoTeng Co. expects a net profit of 80 million to 105 million yuan for 2025, turning profitable year-on-year [2] - ZhongBing HongJian anticipates a net profit of 34 million to 46 million yuan for 2025, turning profitable year-on-year [2]

格隆汇1月22日丨兆易创新(03986.HK)公告，董事会已于2026年1月22日召开的第五届董事会第八次会议 审议通过《关于聘任境外会计师事务所的议案》，公司拟聘任毕马威会计师事务所("毕马威香港")为公 司2025年度境外审计机构。 ...

智通财经APP讯，兆易创新(03986)发布公告，董事会已于2026年1月22日召开的第五届董事会第八次会 议审议通过《关于聘任境外会计师事务所的议案》，公司拟聘任毕马威会计师事务所为公司2025年度境 外审计机构。 ...

兆易创新（603986）(03986)发布公告,根据财务部门的初步测算，预计于2025年取得归属于上市公司股 东的净利润为人民币16.1亿元左右，较上年同期增加人民币5.07亿元左右，增长46%左右。预计于2025 年取得归属于上市公司股东的扣除非经常性损益的净利润为人民币14.23亿元左右，较上年同期增加人 民币3.93亿元左右，增长38%左右。预计于2025年取得营业收入人民币92.03亿元左右，较上年同期增加 人民币18.47亿元左右，增长25%左右。 2025年的非经常性项目大幅增加，主要是由于报告期间末本集团持有的证券投资公允价值上升，导致本 集团确认的公允价值变动收益相应增加。 于2025年，本集团的收入实现稳定增长，这主要得益于技术创新、行业周期增长及公司战略的有效实施 所带来的多重协同效应。在技术层面，AI算力的加速发展显着拉动了需求，本集团在PC、服务器及汽 车电子领域的产品深获裨益。在行业层面，存储行业进入稳定上行周期，供需格局的优化推动产品价格 与销量的同步提升。本集团始终将市场份额作为核心发展目标，持续深化多元化产品布局。多领域的需 求增长与本集团广泛的产品矩阵形成了有效协同，为业绩实 ...

兆易创新（603986）(03986)发布公告，公司于2026年1月22日召开第五届董事会第八次会议，审议通过 了《关于使用A股部分募集资金向全资子公司及全资孙公司增资以实施DRAM募投项目的议案》，同意 公司使用A股募集资金5亿元向全资子公司珠海横琴芯存半导体有限公司(以下简称"珠海芯存")增资，并 由珠海芯存使用A股募集资金向全资孙公司合肥芯存半导体有限公司(以下简称"合肥芯存")、全资孙公 司西安芯存半导体有限公司(以下简称"西安芯存")分别增资3000万元、5000万元，以实施DRAM募投项 目。 ...

2025年的非经常性项目大幅增加，主要是由于报告期间末本集团持有的证券投资公允价值上升，导致本 集团确认的公允价值变动收益相应增加。 智通财经APP讯，兆易创新(03986)发布公告,根据财务部门的初步测算，预计于2025年取得归属于上市 公司股东的净利润为人民币16.1亿元左右，较上年同期增加人民币5.07亿元左右，增长46%左右。预计 于2025年取得归属于上市公司股东的扣除非经常性损益的净利润为人民币14.23亿元左右，较上年同期 增加人民币3.93亿元左右，增长38%左右。预计于2025年取得营业收入人民币92.03亿元左右，较上年同 期增加人民币18.47亿元左右，增长25%左右。 于2025年，本集团的收入实现稳定增长，这主要得益于技术创新、行业周期增长及公司战略的有效实施 所带来的多重协同效应。在技术层面，AI算力的加速发展显着拉动了需求，本集团在PC、服务器及汽 车电子领域的产品深获裨益。在行业层面，存储行业进入稳定上行周期，供需格局的优化推动产品价格 与销量的同步提升。本集团始终将市场份额作为核心发展目标，持续深化多元化产品布局。多领域的需 求增长与本集团广泛的产品矩阵形成了有效协同，为业绩 ...