每经头条（nbdtoutiao）——从极寒测试到万套装车！半固态电池今年有望搭载多款新车：各大厂商摩 拳擦掌，动力电池技术迎来迭代年 每经AI快讯，中复神鹰1月28日晚间发布业绩预告，预计公司2025年年度实现归属于母公司所有者的净 利润为8000万元至1.2亿元，与上年同期相比，预计增加约2.04亿元~2.44亿元，将实现扭亏为盈。业绩 变动主要原因是，报告期内，公司业绩实现扭亏为盈，主要得益于三大驱动力：一是市场端，通过优化 产品结构，拓展航空航天、风电、高端体育及压力容器等应用领域，实现销售收入与盈利能力的显著增 长。二是生产端，聚焦技术驱动的降本增效，依托规模化生产与工艺优化，有效降低了单位生产成本。 三是管理端，以管理精细化挖潜增效，实现了费用的有效控制，进一步夯实了盈利基础。 （记者 曾健辉） ...

Core Viewpoint - Zhongfu Shenying announced an expected net profit of 80 million to 120 million yuan for 2025, indicating a turnaround from losses to profits [2] Group 1: Financial Performance - The company anticipates achieving profitability by optimizing its product structure and expanding into aerospace and wind power applications [2] - The expected net profit range for 2025 is between 80 million and 120 million yuan [2] Group 2: Operational Strategies - The company plans to reduce costs and increase efficiency through large-scale production and process optimization [2] - Effective cost control measures are being implemented through refined management practices [2]

Core Viewpoint - The company expects significant revenue growth in 2025, with projected annual revenue between 2.1 billion to 2.3 billion yuan, representing an increase of 543 million to 743 million yuan, or a growth rate of 34.85% to 47.69% [1] Financial Performance - The net profit attributable to the parent company is forecasted to be between 80 million to 120 million yuan, an increase of 204 million to 244 million yuan compared to the previous year, indicating a turnaround from losses to profitability [1] - The non-recurring net profit is expected to be between 55 million to 80 million yuan, an increase of 240 million to 265 million yuan year-on-year, also reflecting a shift from losses to profitability [1] Growth Drivers - The performance growth is attributed to several factors: optimization of product structure in the market, cost reduction and efficiency improvement in production, and expense control in management [1]

Core Viewpoint - Zhongfu Shenying (688295.SH) is expected to achieve significant revenue growth and profitability turnaround by 2025, driven by strategic market, production, and management initiatives [1] Financial Projections - The company anticipates annual revenue for 2025 to be between 2.1 billion and 2.3 billion yuan, representing a year-on-year growth of 34.85% to 47.69% [1] - The projected net profit attributable to the parent company for 2025 is expected to be between 80 million and 120 million yuan, indicating a turnaround from previous losses [1] - The net profit excluding non-recurring gains and losses is forecasted to be between 55 million and 80 million yuan, also reflecting a return to profitability [1] Performance Drivers - Market-side improvements include optimizing product structure and expanding into aerospace, wind power, high-end sports, and pressure vessel applications, leading to significant increases in sales revenue and profitability [1] - On the production side, the company focuses on technology-driven cost reduction and efficiency enhancement, utilizing large-scale production and process optimization to effectively lower unit production costs [1] - Management strategies emphasize refined management practices to enhance efficiency and control expenses, further solidifying the profitability foundation [1]

2025 年 1 月 1 日至 2025 年 12 月 31 日。 （二）业绩预告情况 1.经财务部门初步测算，预计中复神鹰碳纤维股份有限公司（以下简称"公 司"）2025 年年度实现营业收入 210,000.00 万元至 230,000.00 万元，与上年 同期相比，预计增加 54,268.94 万元至 74,268.94 万元，同比增长 34.85%至 47.69%。 2.预计公司2025年年度实现归属于母公司所有者的净利润为8,000.00万元 至 12,000.00 万元，与上年同期相比，预计增加 20,438.39 万元至 24,438.39 万元，将实现扭亏为盈。 证券代码：688295 证券简称：中复神鹰 公告编号：2026-005 中复神鹰碳纤维股份有限公司 2025 年年度业绩预告 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、准确性和完整性依法承担法律责任。 一、本期业绩预告情况 （一）业绩预告期间 1 三、本期业绩变化的主要原因 报告期内，公司业绩实现扭亏为盈，主要得益于三大驱动力：一是市场端， 通过优化产品结构，拓展航空航天、风电 ...

Group 1 - The chemical fiber sector increased by 0.43% on January 27, with Zhongfu Shenying leading the gains [1] - The Shanghai Composite Index closed at 4139.9, up 0.18%, while the Shenzhen Component Index closed at 14329.91, up 0.09% [1] - Key stocks in the chemical fiber sector showed various performance metrics, with Zhongfu Shenying closing at 35.46, up 4.79% [1] Group 2 - The chemical fiber sector experienced a net outflow of 171 million yuan from main funds, while retail investors saw a net inflow of 188 million yuan [2] - The trading volume and turnover for several stocks in the sector were significant, with Jilin Carbon Valley recording a turnover of 343 million yuan [2] - The stock performance varied, with Youfu Co. experiencing a decline of 4.57% to close at 7.51 [2] Group 3 - Jilin Carbon Valley had a net inflow of 36.93 million yuan from main funds, while New Xiang Chemical Fiber saw a net outflow of 35.22 million yuan from retail investors [3] - The data indicates a mixed sentiment among different investor types, with retail investors showing a preference for certain stocks despite overall sector outflows [3] - The performance of individual stocks varied, with some stocks like Zhongfu Shenying and Nanjing Chemical Fiber showing minor net inflows from retail investors [3]

Investment Rating - The report maintains an "Outperform" rating for the construction materials sector, indicating a positive outlook compared to the broader market [2] Core Views - A new round of urban renewal is beginning, which is expected to provide significant opportunities in the consumer building materials sector, effectively countering the decline in new housing market demand [8] - The report highlights that after a prolonged downturn in the real estate sector, profitability in various segments of the construction supply chain is starting to recover, particularly for leading companies that have undergone strategic adjustments [8] - The report emphasizes the potential for price increases in certain segments, such as waterproofing and coatings, as companies respond to improved market conditions [8] Summary by Sections Cement - The cement market is entering a seasonal downturn, with demand expected to decline. The average shipment rate for major regions has dropped to 29%, a decrease of approximately 10 percentage points [27][34] - The national average price for cement remains stable at around 353 RMB per ton, with minor fluctuations observed in specific regions [28][34] - The report suggests that after the Spring Festival, demand may recover as new key projects are expected to commence, potentially stabilizing prices [34] Glass - The glass market is also experiencing a decline in demand, with production capacity decreasing to approximately 14.95 million tons, the lowest in recent years [53] - The average price for float glass has increased slightly to 1,139 RMB per ton, with inventory levels decreasing [38] - The report indicates that the glass industry is facing profitability challenges, leading to accelerated production line cold repairs, which may help stabilize the market [53] Fiberglass - The fiberglass market is seeing stable pricing for both roving and electronic fabrics, with the price of 7628 electronic fabric currently at approximately 4.4-4.85 RMB per meter [55] - The report anticipates continued high demand for electronic fabrics, supported by structural adjustments and a shortage of high-end products [55] - Key recommendations include focusing on leading companies like China Jushi, with additional attention on International Composite Materials and Zhongcai Technology [55] Carbon Fiber - Carbon fiber prices are expected to remain stable in the short term, with the rapid development of commercial aerospace potentially driving new demand [55] - The report notes that the current price stability is a necessary step for increased market penetration, with significant growth expected in the aerospace sector [55] Consumer Building Materials - The report highlights the resilience of consumer building materials, with leading companies like Sanke Tree and Rabbit Baby showing strong growth potential as they emerge from profitability challenges [8] - The urban renewal initiative is expected to create substantial market opportunities, particularly for high-quality consumer building materials [8]

Investment Rating - The report does not explicitly state an investment rating for the industry or specific companies [1]. Core Insights - Carbon fiber, referred to as "black gold," is categorized into T series (focused on tensile strength) and M series (focused on tensile modulus), with M series being more suitable for space environments due to its high carbon content and modulus [5][19]. - Carbon fiber is utilized in rockets for critical components such as fairings and landing legs, achieving weight reductions of 20%-50%. The Falcon 9 rocket by SpaceX employs carbon fiber in its structures, while the domestic "Weiguang-1" rocket is expected to achieve over 30% weight reduction with full carbon fiber construction by 2028 [5][34][37]. - In satellites, carbon fiber accounts for approximately 15.1% of materials used, primarily in heat sinks and precision structures. Although aluminum alloys dominate at 36.7%, the penetration of carbon fiber is expected to increase due to its low thermal expansion and weight reduction benefits [5][46]. - The M series carbon fiber has high technical barriers, with key bottlenecks in carbonization and graphitization equipment. Companies like Guangwei Composites have a competitive edge in technology and capacity, while others like Zhongfu Shenying and Heshun Technology are also making strides in the M series carbon fiber sector [5][61]. Summary by Sections 1. Carbon Fiber: "Black Gold" Performance - Carbon fiber can be classified based on precursor type, fiber morphology, bundle specifications, production processes, and mechanical properties. The main categories include PAN-based, pitch-based, and viscose-based fibers [13][15]. - Military applications primarily use small bundles of high-modulus carbon fiber, which are essential in aerospace [15][24]. 2. Rocket Applications of Carbon Fiber - Future applications of carbon fiber in rockets are expected to expand to fairings, interstage sections, and landing legs [7][28]. - The D4 rocket uses carbon fiber composites in various critical components, showcasing the material's advantages over traditional metals [33]. 3. Satellite Applications of Carbon Fiber - The increase in satellite weight is expected to drive higher penetration rates of carbon fiber in satellite structures [41][56]. - Carbon fiber is used in satellite components such as heat sinks, precision structures, solar panel supports, and antenna reflectors, benefiting from its excellent thermal and mechanical properties [45][46]. 4. Related Companies - Guangwei Composites leads in M series carbon fiber production with significant capacity and technological advantages, while Zhongfu Shenying and Heshun Technology are also advancing in this field [61][63].

Group 1 - The core viewpoint of the news highlights the financial performance and trading activity of Zhongfu Shenying, indicating a significant increase in revenue and net profit for the company [2][3] - As of January 22, Zhongfu Shenying's stock price increased by 1.94%, with a trading volume of 341 million yuan, and a net financing purchase of 7.72 million yuan [1] - The company has a total financing and securities balance of 252 million yuan, with the financing balance accounting for 0.80% of the circulating market value, indicating a high level of financing activity [1] Group 2 - For the period from January to September 2025, Zhongfu Shenying achieved an operating income of 1.537 billion yuan, representing a year-on-year growth of 37.39% [2] - The net profit attributable to the parent company for the same period was 62.93 million yuan, showing a substantial increase of 854.72% compared to the previous year [2] - The company has distributed a total of 185 million yuan in dividends since its A-share listing [3]

Core Viewpoint - The company, Zhongfu Shenying, primarily adopts a direct sales model for its EU customers, with specific operational details to be confirmed in its periodic reports [1] Group 1 - The company engages directly with EU clients through a direct sales approach [1] - Operational performance details will be disclosed in the company's regular financial reports [1]