（编辑 袁冠琳） 证券日报网讯 1月11日，德昌股份发布2025年度业绩预告称，公司预计2025年度实现归属于母公司所有 者的净利润为16，000万元到20，000万元，与上年同期相比，将减少25，083万元到21，083万元，同比 减少61%到51%。 ...

证券代码：605555 证券简称：德昌股份 公告编号：2026-001 宁波德昌电机股份有限公司 2025 年度业绩预告 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： 经财务部门初步测算，预计2025年度实现归属于母公司所有者的净利润为 16,000万元到20,000万元，与上年同期相比，将减少25,083万元到21,083万元， 同比减少61%到51%。预计2025年度实现归属于母公司所有者的扣除非经常性损益 的净利润为14,536万元到18,536万元，与上年同期相比，将减少24,789万元到 20,789万元，同比减少63%到53%。 （三）以上业绩预告数据仅为初步核算数据，未经注册会计师审计。 二、上年同期经营业绩 （一）利润总额：45,332万元。归属于母公司所有者的净利润：41,083万元 业绩预告的具体适用情形：实现盈利，且净利润与上年同期相比下降50% 以上。 宁波德昌电机股份有限公司（以下简称"公司"）预计2025年度实现归 属于母公司所有者的净利润为16,000万元到20,000万元，与上年 ...

Investment Rating - The report maintains a positive outlook on the home appliance sector, highlighting the potential for growth in leading companies due to their low valuations, high dividends, and stable growth attributes [6]. Core Insights - The home appliance sector has shown mixed performance, with air conditioning sales declining significantly while washing machine exports continue to grow. The report emphasizes the resilience of leading brands in navigating market challenges and capitalizing on emerging opportunities [5][6]. - The report identifies three main investment themes: the undervaluation and growth potential of leading white and black appliance companies, the technological advancements in core component manufacturers, and the strong demand for small appliances in international markets [6]. Summary by Sections Air Conditioning - In November 2025, the air conditioning industry produced 10.577 million units, a year-on-year decrease of 36.7%. Total sales reached 10.492 million units, down 31.8%, with domestic sales falling by 39.8% and exports declining by 25.6%. Midea led the market with a 36.2% share, followed by Gree at 19.5% [2][41]. Refrigerators - The refrigerator sector saw a slight overall decline, with production at 8.257 million units, down 3.9% year-on-year. Sales totaled 8.0531 million units, a decrease of 2.99%. Domestic sales dropped by 15.59%, while exports increased by 10.04% [2][43]. Washing Machines - The washing machine industry experienced growth, with production reaching 8.605 million units, up 8.2% year-on-year. Sales were 8.4619 million units, an increase of 7.61%. Domestic sales fell by 5.47%, but exports surged by 23.31% [3][47]. Industry Dynamics - Notable developments include the CES debut of the G-Rover robot vacuum by Stone Technology, showcasing innovative cleaning technology, and the acquisition of subsidiaries by Kaineng Health, indicating strategic expansion efforts [5][12][13]. Component Data - In November 2025, the sales of rotary compressors decreased by 13.6%, while the sales of refrigerator compressors increased by 7.2%. The report highlights the contrasting performance of different components within the appliance sector [23][32].

Group 1 - Jia Mei Packaging's stock will resume trading on January 12, 2026, after completing a review due to a 230.48% price increase from December 17, 2025, to January 6, 2026 [1] - Yan Jiang Co. continues to suspend trading as it plans to acquire assets, with a disclosure expected by January 19, 2026 [2] - Defu Technology terminated its acquisition of 100% of Luxembourg Copper Foil due to restrictions from the Luxembourg Ministry of Economy, with a refund of €17.4047 million expected [3] Group 2 - Defu Technology plans to acquire at least 51% of Huiru Technology through cash and capital increase, with Huiru focusing on high-performance electrolytic copper foil [4] - Shangluo Electronics' application for issuing convertible bonds has been accepted by the Shenzhen Stock Exchange [5] - Xianle Health intends to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy and capital strength [6] Group 3 - Hangyu Technology plans to sell up to 752,800 repurchased shares to supplement working capital, with a potential cancellation of unsold shares [7] - Fangsheng Pharmaceutical's production facility failed a GMP compliance check, but it will not significantly impact operations [8][9] - East China Pharmaceutical's subsidiary's product has been included in the list of breakthrough therapeutic varieties for severe hypertriglyceridemia [10] Group 4 - Dechang Co. expects a net profit decrease of 51% to 61% for 2025, primarily due to competitive pressures and foreign exchange losses [12] - Hebang Bio anticipates a net loss for 2025 due to asset impairment provisions [13] - Qu Mei Home expects a net loss for 2025, with significant negative figures reported for the first nine months [14] Group 5 - Jinzongzi Wine forecasts a net loss for 2025, although the loss is expected to narrow compared to the previous year [15] - Sichuan Electronics expects a net loss of between 265 million to 340 million yuan for 2025, attributed to market competition and delayed orders [16] - Wansheng Co. anticipates a net loss for 2025 [17] - Weiyuan Co. also expects a net loss for 2025 [19] - Kosen Technology predicts a net loss for 2025 due to low capacity utilization and strategic adjustments [20] - Zhongheng Group expects a net loss for 2025 [21] Group 6 - Xiantan Co. reported a 9.41% year-on-year increase in chicken product sales revenue to 530 million yuan in December 2025 [22] Group 7 - Huate Gas shareholders plan to reduce their holdings by up to 2% through block trades [24] - Meidike shareholders plan to reduce their holdings by up to 1% through market transactions [25]

格隆汇1月11日丨德昌股份(605555.SH)公布，公司预计2025年度实现归属于母公司所有者的净利润为 16,000万元到20,000万元，与上年同期相比，将减少25,083万元到21,083万元，同比减少61%到51%。预 计2025年度实现归属于母公司所有者的扣除非经常性损益的净利润为14,536万元到18,536万元，与上年 同期相比，将减少24,789万元到20,789万元，同比减少63%到53%。 2025 年公司汽车零部件业务仍然保持快速增长态势。家电业务因受国际贸易政策影响，叠加行业竞争 不断加剧，导致价格下行，以及新产能开始投产运营，尚处于爬坡阶段，摊销费用同比有所增加，综合 影响了毛利率；同时，受美元汇率波动影响，本期公司汇兑收益约-1,800 万元，较上年同期减少约 6,000 万元。 ...

2025年公司汽车零部件业务仍然保持快速增长态势。家电业务因受国际贸易政策影响，叠加行业竞争不 断加剧，导致价格下行，以及新产能开始投产运营，尚处于爬坡阶段，摊销费用同比有所增加，综合影 响了毛利率；同时，受美元汇率波动影响，本期公司汇兑收益约-1800万元，较上年同期减少约6000万 元。 德昌股份1月11日发布2025年度业绩预告，经财务部门初步测算，预计2025年度实现归属于母公司所有 者的净利润为1.6亿元到2亿元，与上年同期相比，同比减少61%到51%。 ...

Core Viewpoint - Dechang Co., Ltd. (605555.SH) expects a net profit attributable to shareholders of the parent company for the year 2025 to be between 160 million to 200 million yuan, representing a year-on-year decrease of 51% to 61% [1] Group 1: Business Performance - The automotive parts business of the company continues to grow rapidly [1] - The home appliance business is negatively impacted by international trade policies and intensified industry competition, leading to price declines [1] - New production capacity is in the ramp-up phase, resulting in increased amortization expenses and pressure on gross margins [1] Group 2: Financial Impact - Fluctuations in the US dollar exchange rate have led to a decrease in foreign exchange gains by approximately 60 million yuan [1] - The combined effects of the above factors have significantly impacted the company's overall performance [1]

Core Viewpoint - Dechang Co., Ltd. (605555) forecasts a significant decline in net profit for the fiscal year 2025, projecting a range of 160 million to 200 million yuan, which represents a year-on-year decrease of 51% to 61% [1] Group 1: Financial Performance - The expected net profit for 2025 is estimated to be between 160 million and 200 million yuan, indicating a substantial decline compared to the previous year [1] - The company anticipates a decrease in net profit due to various factors affecting its business segments [1] Group 2: Business Segments - The automotive parts business is expected to continue its rapid growth trajectory in 2025 [1] - The home appliance segment is facing challenges due to international trade policies, increased competition, and the introduction of new production capacity, which is still in the ramp-up phase [1] - The home appliance business is experiencing a decline in gross margin due to increased amortization costs and price reductions [1] Group 3: Currency Impact - The company reported a foreign exchange loss of approximately 18 million yuan for the period, a decrease of about 60 million yuan compared to the same period last year [1]

每经AI快讯，1月11日，德昌股份公告，预计2025年度实现归属于母公司所有者的净利润为1.6亿元到2 亿元，同比减少61%到51%。2025年公司汽车零部件业务仍然保持快速增长态势。家电业务因受国际贸 易政策影响，叠加行业竞争不断加剧，导致价格下行，以及新产能开始投产运营，尚处于爬坡阶段，摊 销费用同比有所增加，综合影响了毛利率。 ...

德昌股份（605555）(605555.SH)发布公告，公司预计2025年度实现归属于母公司所有者的净利润为1.6 亿元到2亿元，同比减少61%到51%。 ...