资料显示，山石网科通信技术股份有限公司位于江苏省苏州高新区景润路181号，成立日期2011年7月20 日，上市日期2019年9月30日，公司主营业务涉及网络安全领域前沿技术的创新,提供包括边界安全、云 安全、数据安全、内网安全在内的网络安全产品及服务,致力于为用户提供全方位、更智能、零打扰的 网络安全解决方案。主营业务收入构成为：边界安全产品75.09%，其他安全产品18.93%，云安全产品 5.09%，其他(补充)0.88%。 2月2日，山石网科跌1.97%，成交额5502.27万元。两融数据显示，当日山石网科获融资买入额305.34万 元，融资偿还510.11万元，融资净买入-204.77万元。截至2月2日，山石网科融资融券余额合计8475.21 万元。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 融资方面，山石网科当日融资买入305.34万元。当前融资余额8475.21万元，占流通市值的2.70%，融资 余额超过近一年90% ...

Core Viewpoint - The company, Hillstone Networks, is expected to report a decline in revenue and an increase in losses for the fiscal year 2025, raising concerns in the market [2] Group 1: Financial Performance - For the fiscal year 2025, the company anticipates revenue between 890 million to 950 million yuan, representing a year-on-year decline of 4.67% to 10.70% [2] - The projected net loss attributable to shareholders is between 220 million to 180 million yuan, which indicates an increase in losses by 42.79 million to 82.79 million yuan compared to the previous year, marking a year-on-year increase of 31.19% to 60.34% [2] - The company has reported consecutive losses for four years, with net losses of 183 million yuan in 2022, 240 million yuan in 2023, and 137 million yuan in 2024 [2] Group 2: Business Challenges - The decline in revenue is primarily attributed to weak demand from downstream customers in the cybersecurity industry and intensified market competition [2] - The company faces increased costs due to a significant rise in component prices, particularly for storage components, with some memory module prices increasing by 3 to 5 times [3] - High R&D expenditures, especially in the development of ASIC security chips and platform transitions, along with increased personnel optimization costs, have further impacted financial performance [3] Group 3: Future Outlook - Despite the challenges, the successful mass production of ASIC security chips and exceeding expectations in market bids indicate potential for technological innovation and market competitiveness [3] - If the company can achieve large-scale supply of ASIC security products in 2026 and effectively control costs while optimizing internal management, there is a possibility for operational improvement and performance reversal [3] - The company needs to implement effective measures in market expansion, cost control, and internal management to achieve sustainable development amidst fierce market competition [3]

Group 1 - Company Weili expects a full-year loss of 350 million to 250 million in 2025 [1] - Company Shanshi Network Technology anticipates a full-year loss of 220 million to 180 million in 2025 [1] - Company Qiangli New Materials projects a full-year loss of 142 million to 100 million in 2025 [1] - Company Nongda Technology has newly listed shares on the Beijing Stock Exchange [1] Group 2 - Convertible bond code 118057 (Jiaoxi Convertible Bond) is not subject to forced redemption [2] - Convertible bond code 127062 (Lezhi Convertible Bond) will not undergo adjustment [2] - Convertible bond code 110089 (Xingfa Convertible Bond) is subject to forced redemption [2] Group 3 - Convertible bond code 113045 (Huanxu Convertible Bond) has a current price of 163.745, with a redemption price of 101.632 and a remaining scale of 0.182 billion [4] - Convertible bond code 113672 (Furong Convertible Bond) has a current price of 136.554, with a redemption price of 100.534 and a remaining scale of 0.024 billion [4] - Convertible bond code 118009 (Huarui Convertible Bond) has a current price of 159.074, with a redemption price of 101.105 and a remaining scale of 0.534 billion [4] - Convertible bond code 123159 (Songsheng Convertible Bond) has a current price of 168.297, with a redemption price of 100.540 and a remaining scale of 0.863 billion [4] - Convertible bond code 118029 (Fumiao Convertible Bond) has a current price of 138.132, with a redemption price of 100.218 and a remaining scale of 1.024 billion [4] - Convertible bond code 127042 (Jiawei Convertible Bond) has a current price of 508.000, with a redemption price of 100.893 and a remaining scale of 1.011 billion [4] - Convertible bond code 118043 (Fuli Convertible Bond) has a current price of 160.044, with a redemption price of 100.397 and a remaining scale of 2.364 billion [4] - Convertible bond code 127039 (Beigang Convertible Bond) has a current price of 135.000, with a redemption price of 101.130 and a remaining scale of 6.203 billion [4] - Convertible bond code 123242 (Sailong Convertible Bond) has a current price of 133.250, with a redemption price of 100.330 and a remaining scale of 1.536 billion [4] - Convertible bond code 127071 (Tianjian Convertible Bond) has a current price of 134.900, with a redemption price of 100.810 and a remaining scale of 4.917 billion [4] - Convertible bond code 123182 (Guanglian Convertible Bond) has a current price of 156.595, with a redemption price of 100.960 and a remaining scale of 6.552 billion [4] - Convertible bond code 111016 (Shentong Convertible Bond) has a current price of 132.137, with a remaining scale of 4.154 billion [4] - Convertible bond code 113639 (Huazheng Convertible Bond) has a current price of 183.222, with a remaining scale of 4.878 billion [4] Group 4 - Convertible bond code 128097 (Aojia Convertible Bond) has a current price of 109.912, with a redemption price of 110.000 and a remaining scale of 4.580 billion [6] - Convertible bond code 128101 (Lianchuang Convertible Bond) has a current price of 122.888, with a redemption price of 110.000 and a remaining scale of 2.978 billion [6] Group 5 - Xingfa Convertible Bond is subject to forced redemption [7] - Yongxi Convertible Bond is not subject to forced redemption [7] - Lezhi Convertible Bond will not undergo adjustment [7] - Convertible bond code 127042 (Naipu Convertible Bond) is set to be listed on January 30 [7]

Core Viewpoint - The company, 山石网科, anticipates a decline in revenue and an increase in net loss for the fiscal year 2025 compared to the previous year [2] Financial Performance - The company expects to achieve an operating revenue of between 890 million yuan and 950 million yuan, representing a year-on-year decline of 4.67% to 10.70% [2] - The projected net profit attributable to the parent company is expected to be between -220 million yuan and -180 million yuan, indicating an increase in losses by 42.79 million yuan to 82.79 million yuan compared to the previous year [2]

报告期内，网络安全行业整体延续下游客户需求疲软态势，市场竞争加剧，公司业务拓展面临阶段性承 压;同时，自2025年第四季度公司ASIC安全专用芯片量产流片测试成功以来，为加快打造各行业标杆案 例，公司迅速以搭载该芯片的新一代安全产品为核心方案全面参与市场投标。截至本公告披露日， ASIC安全产品商机储备规模显著提升，客户端测试表现优异，已成功中标证券、能源等行业头部客户 项目，中标情况超出预期，充分彰显了公司ASIC安全产品的核心市场竞争力。根据公司既定的量产及 供货规划，ASIC安全产品将于2026年上半年开始规模化供货，因此未对公司2025年度营业收入产生明 显贡献。 山石网科(688030.SH)发布2025年年度业绩预告，预计2025年度实现归属于母公司所有者净亏损1.8亿元 至2.2亿元。 ...

Core Viewpoint - The company, Hillstone Networks (688030.SH), forecasts a net loss attributable to shareholders of 180 million to 220 million yuan for the fiscal year 2025, amid a challenging market environment in the cybersecurity industry [1] Industry Summary - The cybersecurity industry continues to experience weak demand from downstream customers, leading to intensified market competition [1] - The company faces phase-specific pressure in business expansion due to these industry-wide challenges [1] Company Summary - Following the successful testing of its ASIC security chip in Q4 2025, the company is rapidly participating in market tenders with new security products based on this chip [1] - As of the announcement date, the company has significantly increased its pipeline of opportunities for ASIC security products, with excellent client testing performance [1] - The company has successfully won projects from leading clients in the securities and energy sectors, exceeding expectations and demonstrating the competitive strength of its ASIC security products [1] - According to the company's production and supply plan, ASIC security products are expected to begin large-scale supply in the first half of 2026, which will not significantly contribute to the company's revenue in 2025 [1]

每经AI快讯，山石网科1月27日晚间发布业绩预告，预计2025年度实现归属于母公司所有者的净利 润-2.2亿元至-1.8亿元，与上年同期相比，亏损扩大4279.18万元~8279.18万元，亏损同比上升 31.19%~60.34%。 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每日经济新闻 （记者 王晓波） 每经头条（nbdtoutiao）——国际金价冲破5000美元！7年涨了280%，什么时候才见顶？专家：关键还 看美元，重点关注国际货币体系、降息和科技革命 ...

报告期内，公司亏损同比扩大，除受前述收入下降影响外，还受到多方面因素的综合影响：一是以存储 为代表的元器件价格大幅上涨，部分型号内存条价格涨幅达3-5倍，对公司硬件产品成本及毛利率造成 一定影响；二是为保障ASIC安全专用芯片研发及平台切换，研发费用维持较高投入，且内部组织结构 优化调整带来的人员优化相关费用同比增幅较大；三是计提减值损失同比有所增加，同时获得的科技项 目政府补助及软件产品销售增值税退税同比减少。 报告期内，网络安全行业整体延续下游客户需求疲软态势，市场竞争加剧，公司业务拓展面临阶段性承 压；同时，自2025年第四季度公司ASIC安全专用芯片量产流片测试成功以来，为加快打造各行业标杆 案例，公司迅速以搭载该芯片的新一代安全产品为核心方案全面参与市场投标。截至本公告披露日， ASIC安全产品商机储备规模显著提升，客户端测试表现优异，已成功中标证券、能源等行业头部客户 项目，中标情况超出预期，充分彰显了公司ASIC安全产品的核心市场竞争力。根据公司既定的量产及 供货规划，ASIC安全产品将于2026年上半年开始规模化供货，因此未对公司2025年度营业收入产生明 显贡献。 格隆汇1月27日丨山石网科 ...

Core Viewpoint - The company, 山石网科, is forecasting a significant net loss for the year 2025, attributed to a combination of weak demand in the cybersecurity industry and increased competition, alongside rising costs and reduced government subsidies [1] Financial Performance - The expected net profit attributable to shareholders for 2025 is projected to be between -220 million yuan and -180 million yuan, indicating a net loss of 180 million to 220 million yuan [1] - The net profit excluding non-recurring gains and losses is anticipated to be between -225 million yuan and -185 million yuan [1] Revenue Outlook - The company's revenue for 2025 is expected to decline compared to the previous year, primarily due to a continued weak demand from downstream customers in the cybersecurity sector and intensified market competition [1] - The company has seen a significant increase in the opportunity reserve for its ASIC security products, with successful bids for projects in leading sectors such as securities and energy, exceeding expectations [1] Product Development - The company has successfully tested its ASIC security dedicated chip and plans to scale up supply in the first half of 2026, which has not yet contributed significantly to the 2025 revenue [1] Cost Factors - The company is facing increased costs due to a substantial rise in component prices, particularly memory modules, which have seen price increases of 3-5 times [1] - High R&D expenditures are being maintained to support the development of ASIC security chips, alongside significant costs related to internal organizational adjustments [1] - There has been an increase in impairment losses and a decrease in government subsidies and VAT refunds for software product sales compared to the previous year [1]

Core Viewpoint - The company, 山石网科, anticipates a significant increase in net losses for the fiscal year 2025, projecting a loss of between 180 million to 220 million yuan, which represents a year-over-year increase in losses of 42.79 million to 82.79 million yuan, or a rise of 31.19% to 60.34% compared to the previous year [1] Financial Projections - The expected net profit attributable to the parent company, excluding non-recurring gains and losses, is projected to be a loss of 185 million to 225 million yuan, with a year-over-year increase in losses of 33.99 million to 73.99 million yuan, reflecting a rise of 22.51% to 49.00% [1] - The anticipated operating revenue for 2025 is estimated to be between 890 million to 950 million yuan, indicating a decline of 4.67% to 10.70% compared to the previous year [1]