Group 1 - Morgan Stanley increased its stake in Naxin Microelectronics (02676) by 17,500 shares at a price of HKD 157.6914 per share, totaling approximately HKD 2.7596 million [1][3] - After the increase, Morgan Stanley's total shareholding in Naxin Microelectronics reached approximately 1.0097 million shares, representing a holding percentage of 5.02% [1][3]

Core Viewpoint - Morgan Stanley increased its stake in Naxin Microelectronics (02676) by purchasing 17,500 shares at a price of HKD 157.6914 per share, totaling approximately HKD 2.7596 million, resulting in a new holding of about 1.0097 million shares, representing 5.02% of the company [1] Summary by Category - **Investment Activity** - Morgan Stanley's recent purchase of 17,500 shares indicates a strategic move to bolster its investment in Naxin Microelectronics [1] - The total investment amount for this transaction was approximately HKD 2.7596 million [1] - **Shareholding Details** - Following the acquisition, Morgan Stanley's total shareholding in Naxin Microelectronics is approximately 1.0097 million shares [1] - The updated shareholding percentage stands at 5.02% [1]

Group 1 - Morgan Stanley increased its stake in Naxin Microelectronics (02676) by 17,500 shares at a price of HKD 157.6914 per share, totaling approximately HKD 2.7596 million [1] - After the increase, Morgan Stanley's total shareholding in Naxin Microelectronics is approximately 1,009,700 shares, representing a holding percentage of 5.02% [1]

Core Viewpoint - Naxin Micro (02676) experienced a decline of over 5% in early trading, with a current drop of 4.13%, trading at HKD 141.6, with a transaction volume of HKD 17.21 million [1] Group 1: Financial Projections - The company expects to achieve an operating revenue of HKD 3.3 billion to HKD 3.4 billion in 2025, representing a year-on-year growth of 68.34% to 73.45% [1] - The projected net profit attributable to the parent company for 2025 is expected to be a loss of HKD 250 million to HKD 200 million, indicating a narrowing of losses year-on-year [1] Group 2: Market Demand and Product Performance - Demand in the downstream automotive electronics sector is showing robust growth, with the company’s related products in this area continuing to gain traction [1] - The overall recovery in the general energy sector is noted, with most clients in the photovoltaic and energy storage sectors returning to normal demand, while server power clients are experiencing rapid growth driven by AI [1] - The consolidation of Maiguan has enriched the company's product matrix, positively contributing to revenue growth during the reporting period [1]

Core Viewpoint - Naxin Micro (02676) experienced a significant decline in stock price, dropping over 5% in early trading, with a current price of 141.6 HKD and a trading volume of 17.21 million HKD. The company announced its revenue and profit forecasts for 2025, indicating a substantial year-on-year growth in revenue but continued net losses, albeit narrowing [1]. Group 1: Financial Forecasts - The company expects to achieve a revenue of 3.3 billion to 3.4 billion CNY in 2025, representing a year-on-year growth of 68.34% to 73.45% [1]. - The projected net profit attributable to the parent company for 2025 is expected to be a loss of 250 million to 200 million CNY, indicating a reduction in losses compared to previous periods [1]. Group 2: Market Demand and Product Performance - Demand in the downstream automotive electronics sector is showing robust growth, with the company’s related products continuing to gain traction [1]. - The overall recovery in the general energy sector is noted, particularly in the photovoltaic and energy storage fields, where most clients have returned to normal demand levels [1]. - The demand from server power clients is rapidly increasing, driven by advancements in AI technology [1]. - The consolidation of Maiguan has enriched the company's product matrix, positively contributing to revenue growth during the reporting period [1].

Performance Forecast - The company expects to achieve operating revenue of RMB 330 million to RMB 340 million for the year 2025, representing an increase of RMB 133.97 million to RMB 143.97 million compared to the previous year, with a year-on-year growth of 68.34% to 73.45% [2] - The company anticipates a net loss attributable to shareholders of RMB 25 million to RMB 20 million for 2025, which is a reduction in loss of RMB 15.29 million to RMB 20.29 million compared to the previous year [3] - The expected net loss after deducting non-recurring gains and losses is projected to be between RMB 29 million and RMB 24 million, with a reduction in loss of RMB 16.68 million to RMB 21.68 million compared to the previous year [3] Previous Year Performance - In 2024, the company reported operating revenue of RMB 196.03 million and a net loss attributable to shareholders of RMB 40.29 million [5] - The net loss after deducting non-recurring gains and losses for 2024 was RMB 45.68 million [5] - The basic earnings per share for 2024 were RMB -2.86 [5] Reasons for Performance Changes - The significant increase in operating revenue is attributed to robust demand in the automotive electronics sector and recovery in the energy sector, particularly in photovoltaic and energy storage fields, as well as contributions from the acquisition of Maiguan [6] - The company has seen an increase in sales, management, and R&D expenses due to investments in R&D, market expansion, supply chain development, product quality management, and talent acquisition [7] - The company incurred share-based payment expenses of approximately RMB 86.97 million, which is an increase of about 22.67% compared to the previous year [9] Impairment Provision - The company has conducted a comprehensive review of its assets and has made impairment provisions for assets that are likely to incur significant losses [13] - The total impairment provisions for 2025 amount to RMB 10.39 million, which will reduce the net profit attributable to shareholders by the same amount [17] - The impairment provisions include credit impairment losses and inventory impairment losses, with specific amounts detailed for various receivables and inventory [14][15]

证券日报网讯 1月30日，纳芯微发布公告称，公司预计2025年度实现营业收入330，000.00万元至340， 000.00万元，同比增长68.34%至73.45%；归属于母公司所有者的净利润为-25，000.00万元至-20， 000.00万元，亏损收窄15，287.82万元至20，287.82万元。 （文章来源：证券日报） ...

格隆汇1月30日丨纳芯微(02676.HK)公告，基于董事会对集团截至2025年12月31日止年度(「2025年 度」)未经审核综合管理账目之初步评估，集团预期于2025年度录得：(一)营业收入人民币33亿元至人民 币34亿元(相当于约369,698.19万港元至380,901.17万港元)，较上年同期相比，将增加人民币133,972.58 万元至人民币143,972.58万元(相当于约150,089.15万港元至161,292.13万港元)，同比增长68.34%至 73.45%； (二)归属于母公司所有者的净利润人民币–2.5亿元至人民币–2亿元(相当于约–28,007.44万港元至– 22,405.95万港元)，较上年同期相比，亏损将收窄人民币15,287.82万元至人民币20,287.82万元(相当于约 17,126.91万港元至22,728.40万港元)。 ...

Core Viewpoint - The company, 纳芯微, anticipates significant revenue growth in 2025, with expected revenues between 3.3 billion to 3.4 billion yuan, representing a year-on-year increase of 68.34% to 73.45% [1][2] Group 1: Revenue Projections - The projected revenue growth is primarily driven by robust demand in the automotive electronics sector and a recovery in the broader energy sector, particularly in photovoltaic and energy storage fields [2] - The integration of 麦歌恩 into the company’s operations has positively contributed to the revenue growth by enriching the product matrix [2] Group 2: Profitability Expectations - The company expects a narrowing of net losses for 2025, with projected losses between 250 million to 200 million yuan, a reduction of 153 million to 203 million yuan compared to the previous year [1][2] - The anticipated improvement in net profit, excluding non-recurring items, is also expected to show a narrowing of losses by 167 million to 217 million yuan [1][2] Group 3: Expense Influences - Increased investments in research and development, market expansion, supply chain development, product quality management, and talent acquisition have led to a rise in sales, management, and R&D expenses [2] - The company has incurred approximately 86.97 million yuan in share-based payment expenses, reflecting a 22.67% increase compared to the previous year [2]

Core Viewpoint - The company expects significant revenue growth in 2025, with projected revenues between 3.3 billion to 3.4 billion yuan, representing a year-on-year increase of 68.34% to 73.45% [1] Group 1: Revenue and Profit Projections - The anticipated revenue growth is attributed to robust demand in the automotive electronics sector and recovery in the energy sector, particularly in photovoltaic and energy storage fields [1] - The company expects to narrow its net loss for 2025 to between -250 million to -200 million yuan, a reduction of 153 million to 203 million yuan compared to the previous year [1] - The net profit attributable to the parent company, excluding non-recurring gains and losses, is projected to be between -290 million to -240 million yuan, with a reduction of 167 million to 217 million yuan year-on-year [1] Group 2: Expense Influences - Increased investment in R&D, market expansion, supply chain development, product quality management, and talent development has led to a rise in sales, management, and R&D expenses [2] - The company incurred share-based payment expenses of approximately 86.97 million yuan, which is an increase of about 22.67% compared to the previous year [2]