Group 1 - The semiconductor sector showed strong performance at the beginning of trading, with notable increases in stock prices [1] - Companies such as Zhongke Lanyun and Haiguang Information surged over 10% [1] - Other companies including Huahai Chengke, Xinyuan Micro, and Purun Shares also experienced upward movements in their stock prices [1]

Market Overview - The A-share market opened lower with the Shanghai Composite Index down 0.20%, the Shenzhen Component down 0.42%, and the ChiNext Index down 0.63% [2][3] - Over 3,000 stocks declined in the market, with notable drops in sectors such as non-ferrous metals, brokerage firms, insurance, retail, and CPO [1][3] Sector Performance - Non-ferrous metals and brokerage sectors experienced significant declines, while the commercial aerospace concept stocks saw a pullback [1][3] - The brain-computer interface concept remained active, with stocks like Prit and Innovation Medical achieving four consecutive trading limits [1] - The electronic gas sector opened strongly, with companies like Sanfu and Heyuan Gas hitting the daily limit [1] Notable Stocks - Zhongke Lanyun opened over 12% higher, projecting a net profit increase of 367%-377% year-on-year for 2025 [3] - Yijing Photovoltaic approached the daily limit down, announcing an expected negative net profit for the fiscal year 2025 [5] Hong Kong Market - The Hang Seng Index opened down 0.59%, with the Hang Seng Tech Index down 0.44% [6][7] - Major stocks like Tencent Music, Baidu, Alibaba, and Zijin Mining saw significant declines, while China Shenhua, China Telecom, and China Merchants Bank showed strength [6] IPO Activity - Zhizhu's first trading day saw a 3.27% increase, with an IPO plan to issue 37.42 million H-shares at a price of HKD 116.20, raising approximately HKD 4.348 billion [7][8]

Key Points - The People's Bank of China will conduct a buyout reverse repurchase operation of 1.1 trillion yuan on January 8, 2026, with a term of 90 days [6] - China has increased its gold reserves for 14 consecutive months, with a total of 74.15 million ounces as of December 2025, reflecting an increase of 30,000 ounces [7] - The Ministry of Industry and Information Technology and seven other departments have issued the "Implementation Opinions on the Special Action of 'Artificial Intelligence + Manufacturing'," aiming for significant advancements in AI technology and applications in manufacturing by 2027 [7][8] - The Ministry of Commerce announced an anti-dumping investigation on dichlorodihydrosilane from Japan, effective January 7, 2026, with the investigation period set from July 1, 2024, to June 30, 2025 [6] - The Shanghai Futures Exchange will adjust the margin ratio and price fluctuation limits for silver futures contracts starting January 9, 2026 [8] Company News - Fenglong Co., Ltd. has experienced an eight consecutive trading limit increase and may apply for a trading suspension if the stock price continues to rise abnormally [11] - Goldwind Technology has reported no significant changes in its operating conditions after two consecutive trading limits [12] - Zhongke Lanyun expects a net profit increase of 366.51% to 376.51% for 2025, driven by significant growth in the fair value of investments [12] - Chuanjinno anticipates a net profit increase of 144.24% to 172.64% for 2025 [13] - Kouzi Jiao expects a net profit decrease of 50% to 60% for 2025 [16] - Kechuan Technology's subsidiary has completed the first chip trial for silicon photonics but has not yet generated revenue [17]

Important Matters - Pritchard has achieved a significant breakthrough in LCP film technology, being the only company in China to do so, and is collaborating with overseas clients for applications in brain-computer interfaces [1] - Zhongtian Rocket's small guided rocket products primarily serve military trade, with product gross margins fluctuating between 35% and 40% [1] - CIMC's subsidiary is providing liquid oxygen storage tanks and other equipment in the commercial aerospace sector, with expected revenue and orders exceeding 100 million yuan by 2025 [1] - Gaode Infrared is supplying infrared detector cores for commercial aerospace and satellite applications [1] - Zhongfu Shenying's M55J-grade carbon fiber is undergoing application verification in satellite structural components [1] Investment and Operations - Dazhong Mining plans to invest 3.688 billion yuan in a 20 million tons per year lithium mining and selection project [1] - Zhongkuang Resources has commenced trial production for a high-purity lithium salt project with an annual output of 30,000 tons [1] - Cuiwei Co., Ltd. has indirectly invested 150 million yuan in Super Fusion through its subsidiary fund [1] - Huagong Technology has launched a self-developed silicon photonic chip for 1.6T optical modules [1] - Gaomei Co., Ltd. has formed small batch orders for composite tungsten wire tendon ropes [1] - Xinlitai's innovative drug SAL0145 injection has had its clinical trial application accepted [1] - Hengrui Medicine's innovative drug Rilaforpu α injection has been approved for market launch, with no similar products approved domestically or internationally [1] - Yifan Pharmaceutical's wholly-owned subsidiary has received a registration acceptance notice for Yihuang Decoction granules, with no similar products from the same prescription available domestically [1] Partnerships and Collaborations - Taisheng Wind Power has formed strategic partnerships with multiple arrow manufacturers [2] - Guangqi Technology's subsidiary has signed batch production contracts totaling 264 million yuan for metamaterials with four clients [2] - Lingyi Intelligent Manufacturing has reached a strategic cooperation agreement with Qiangnao Technology [2] Performance - Zhongke Lanyun expects a net profit increase of 367%-377% year-on-year in 2025, driven by significant fair value changes from investments in Moer Thread and Muxi Co., Ltd. [2] - Kangchen Pharmaceutical anticipates a net profit increase of 243%-315% year-on-year in 2025 [2] - Chuanjinno expects a net profit increase of 144%-173% year-on-year in 2025 [2] - Beifang Navigation forecasts a net profit increase of 86.32%-137.14% year-on-year in 2025 [2]

Core Viewpoint - The entry of major high-tech companies into the A-share market has significantly benefited their "shadow stocks," with Zhongke Lanyun (688332) projecting a substantial increase in its 2025 annual performance due to investments in leading GPU companies [2] Group 1: Performance Forecast - Zhongke Lanyun expects a net profit attributable to shareholders of 1.4 billion to 1.43 billion yuan for 2025, representing an increase of 1.1 billion to 1.13 billion yuan compared to the previous year, which translates to a year-on-year growth of 366.51% to 376.51% [2] - The company attributes this significant growth to strategic investments in high-growth areas such as GPUs and advanced packaging testing, alongside a notable increase in the fair value of its investments in Moer Thread and Muxi Co., which contributed to the profit surge [2] Group 2: Investment Holdings - Zhongke Lanyun directly holds 1.3404 million shares of Moer Thread, accounting for 0.29% of its total share capital post-IPO, and indirectly holds 670,100 shares through Beijing Qichuang Kexin Venture Capital Fund, totaling 0.43% [3] - The company also directly holds 854,300 shares of Muxi Co., representing 0.21% of its total share capital post-IPO [3] Group 3: Market Performance of Investments - Moer Thread, known as the "first domestic GPU stock," debuted on the STAR Market on December 5, 2025, with an opening increase of 468.78%, reaching 650 yuan per share, and its market value peaked at 440 billion yuan [3] - As of January 7, 2026, Moer Thread's closing price was 617.54 yuan per share, with a market value exceeding 290 billion yuan [3] - Muxi Co. launched on the STAR Market on December 17, 2025, with an opening increase of 568.83%, reaching 700 yuan per share, and its market value once surpassed 350 billion yuan [3] - On January 7, 2026, Muxi Co.'s closing price was 603.96 yuan per share, with a market value exceeding 240 billion yuan [3] Group 4: Company Business Overview - For 2025, Zhongke Lanyun anticipates a slight decline in its core business performance, projecting revenue of 1.83 billion to 1.85 billion yuan, an increase of 10.966 million to 30.966 million yuan, or a year-on-year growth of 0.60% to 1.70% [4] - The expected net profit attributable to shareholders, excluding non-recurring gains and losses, is projected to be 220 million to 240 million yuan, reflecting a decrease of 4.1487 million to 24.1487 million yuan, or a year-on-year decline of 1.70% to 9.89% [4] - Zhongke Lanyun specializes in the design, research, and sales of wireless audio SoC chips, gradually forming a product architecture centered around ten product lines, including Bluetooth headset chips and AIoT chips [5]

我国可控核聚变技术再迎新突破。 6股晚间公告业绩预增 1月7日晚间，16股发布2025年度业绩相关公告，其中川金诺、泉阳泉、北方导航、高能环境、康辰药业、中科蓝讯6股业绩预增，报喜比 例为37.5%。 从预告净利润同比增幅下限来看，中科蓝讯预计增幅最高，预计实现归母净利润14亿元—14.3亿元，同比大幅增长366.51%—376.51%。公 司表示，本报告期非经常性损益主要为投资摩尔线程和沐曦股份取得的公允价值变动，较上年有大幅增长，导致公司2025年度实现归母净 利润较上年大幅增长。数据显示，摩尔线程和沐曦股份上市以来较发行价分别上涨440.37%、477.07%。 截至目前，已有67股发布2025年度业绩相关公告，其中47股实现归母净利润同比增长或扭亏，报喜比例超过七成。 | 代码 | 简称 | 预告净利润同比 增长下限 | 申万行业 | 总市值 (亿元) | | --- | --- | --- | --- | --- | | | | (%) | | | | 688332 | 中科蓝讯 | 366.51 | 电子 | 161.25 | | 688796 | 百奥赛图 | 303.57 | 医药生物 | 2 ...

| 代码 | 简称 | 预告净利润同比 增长下限 | 申万行业 | 总市值 | | --- | --- | --- | --- | --- | | | | (%) | | (亿元) | | 688332 | 中科蓝讯 | 366.51 | 电子 | 161.25 | | 688796 | 百奧赛图 | 303.57 | 医药生物 | 223.18 | | 002010 | 传化智联 | 256.07 | 交通运输 | 171.37 | | 603590 | 康辰药业 | 243.00 | 医药生物 | 66.59 | | 300620 | 光库科技 | 152.00 | 通信 | 386.88 | | 600983 | 惠而浦 | 150.00 | 家用电器 | 77.72 | | 600189 | 泉阳泉 | 147.89 | 食品饮料 | 49.92 | | 300505 | 川金诺 | 144.24 | 基础化工 | 65.12 | | 002709 | 天赐材料 | 127.31 | 电力设备 | 925.22 | | 002258 | 利尔化学 | 113.62 | 基础化工 | 112.94 | ...

分行业来看，上述预增或扭亏的47股中，属于基础化工行业的最多，共7股；其次是机械设备、电子、有色金属，分别有6股、5股、4股。 6股晚间公告业绩预增 1月7日晚间，16股发布2025年度业绩相关公告，其中川金诺、泉阳泉、北方导航、高能环境、康辰药业、中科蓝讯6股业绩预增，报喜比 例为37.5%。 从预告净利润同比增幅下限来看，中科蓝讯预计增幅最高，预计实现归母净利润14亿元—14.3亿元，同比大幅增长366.51%—376.51%。公 司表示，本报告期非经常性损益主要为投资摩尔线程和沐曦股份取得的公允价值变动，较上年有大幅增长，导致公司2025年度实现归母净 利润较上年大幅增长。数据显示，摩尔线程和沐曦股份上市以来较发行价分别上涨440.37%、477.07%。 截至目前，已有67股发布2025年度业绩相关公告，其中47股实现归母净利润同比增长或扭亏，报喜比例超过七成。 从预告净利润同比增幅下限来看，中科蓝讯、百奥赛图、传化智联、康辰药业4股预告净利润同比增幅居前，均超过200%。 预计2025年度净利润增幅居前的个股 | 代码 | 简称 | 预告净利润同比 增长下限 | 申万行业 | 总市值 (亿元) | ...

Core Viewpoint - The entry of major high-tech companies into the A-share market has significantly benefited their "shadow stocks," leading to substantial profit increases for companies like Zhongke Lanyun. Group 1: Company Performance - Zhongke Lanyun (688332) expects a net profit attributable to shareholders of 1.4 billion to 1.43 billion yuan for 2025, an increase of 1.1 billion to 1.13 billion yuan compared to the previous year, representing a year-on-year growth of 366.51% to 376.51% [2] - The company attributes this significant profit increase to strategic investments in high-growth areas such as GPUs and advanced packaging testing, alongside substantial fair value changes from investments in major GPU leaders [2] - The company's core business is projected to see a slight decline in 2025, with expected revenue of 1.83 billion to 1.85 billion yuan, an increase of only 10.96 million to 30.96 million yuan, or 0.60% to 1.70% year-on-year [4] Group 2: Investment Holdings - Zhongke Lanyun directly holds 1.3404 million shares of Moer Thread, accounting for 0.29% of its total share capital post-IPO, and indirectly holds 670,100 shares through a venture capital fund, totaling 0.43% [2] - The company also directly holds 854,300 shares of Muxi Co., representing 0.21% of its total share capital post-IPO [2] - Moer Thread, known as the "first domestic GPU stock," saw its stock price open at 650 yuan per share on its debut, rising by 468.78%, and reached a market capitalization of 440 billion yuan at its peak [3]

Market Overview - The three major A-share indices experienced a slight increase on January 7, with total trading volume in the Shanghai and Shenzhen markets reaching 2.88 trillion yuan, an increase of over 49 billion yuan compared to the previous day [1] - More than 2,100 stocks closed higher, with notable gains in sectors such as storage chips, state-owned capital holdings, and advanced packaging [1] Historical Highs - A total of 99 stocks reached their historical closing highs, excluding newly listed stocks from the past year. The electronics, machinery equipment, and non-ferrous metals sectors had the highest concentration of stocks hitting new highs, with 27, 13, and 11 stocks respectively [1] - The average increase for stocks that reached historical highs was 7.25%, with stocks like Shaoyang Hydraulic, Meihua Medical, and Nanda Optoelectronics hitting the daily limit [1] Top Gainers - The top gainers among stocks that reached historical highs included: - Shaoyang Hydraulic (41.33 yuan, +20.01%) - Meihua Medical (41.56 yuan, +20.01%) - Andar Intelligent (170.08 yuan, +20.00%) - Nanda Optoelectronics (55.19 yuan, +20.00%) [2] Institutional Activity - In the market, 17 stocks were net bought by institutions, with five stocks seeing net purchases exceeding 1 billion yuan. Notably, Sanbo Brain Science and Shunhao Co. received over 2 billion yuan in net purchases [2] - Conversely, Jin Feng Technology faced the highest net sell-off by institutions, amounting to over 400 million yuan, followed by Meihua Medical and Chip Source Micro with net sells of 371 million yuan and 241 million yuan respectively [3] Northbound Capital Flow - Northbound funds saw net purchases in 14 stocks, with Nanda Optoelectronics, Sanbo Brain Science, and Lei Ke Defense leading with amounts exceeding 1 billion yuan [4] - On the sell side, Jin Feng Technology topped the list with a net sell amount of 92.58 million yuan, followed by Yunhan Chip City and Shunhao Co. with net sells exceeding 40 million yuan [5] Company Announcements - Zhongke Lanyun (688332) projected a net profit increase of 366.51% to 376.51% for 2025, driven by significant growth in the fair value of investments in Moer Thread and Muxi Co. [7] - Su Meida plans to acquire a 16.92% stake in Blue Science High-Tech to achieve control [7] - Baomo Co. is planning a change in control by its actual controller [7] - Puli Te's LCP film products are suitable for use as flexible electrode materials in brain-computer interfaces [7] - Chuanjin Nuo expects a net profit increase of 144.24% to 172.64% for 2025 [7]