报告期内，受行业宏观因素影响，公司业绩阶段性承压。面对外部环境变化，公司始终聚焦核心优势， 夯实技术研发，推进精益化管理，提升运营质效。 智通财经APP讯，国博电子(688375.SH)披露2025年度业绩快报，2025年度实现营业总收入23.86亿元， 同比下降7.92%;归属于母公司所有者的净利润5.08亿元，同比增长4.72%。 ...

2025 年度业绩快报公告 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。 本公告所载 2025 年度主要财务数据为初步核算数据，未经会计师事务所审 计，具体数据以南京国博电子股份有限公司（以下简称"公司"）2025 年年度 报告中披露的数据为准，提请投资者注意投资风险。 | | | | 单位：人民币万元 | | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期 | 增减变动幅度 | | | | | （％） | | 营业总收入 | 238,599.95 | 259,108.67 | -7.92 | | 营业利润 | 54,111.83 | 51,413.92 | 5.25 | | 利润总额 | 54,073.76 | 51,416.86 | 5.17 | | 归属于母公司所有者的净利润 | 50,752.63 | 48,464.90 | 4.72 | | 归属于母公司所有者的扣除非经 常性损益的净利润 | 49,328.66 | 47,660.58 | 3.50 | | 基本每股收益（元 ...

格隆汇2月11日｜国博电子(688375.SH)公告称，2025年度营业总收入为23.86亿元，较上年同期下降 7.92%；归属于母公司所有者的净利润为5.08亿元，同比增长4.72%。 ...

影响经营业绩的主要因素：报告期内，受行业宏观因素影响，公司业绩阶段性承压。面对外部环境变 化，公司始终聚焦核心优势，夯实技术研发，推进精益化管理，提升运营质效。 格隆汇2月11日丨国博电子(688375.SH)公布2025年度业绩快报，报告期内，公司实现营业总收入23.86亿 元，较上年同期下降7.92%；实现归属于母公司所有者的净利润5.08亿元，较上年同期增长4.72%；实现 归属于母公司所有者的扣除非经常性损益的净利润4.93亿元，较上年同期增长3.50%；实现基本每股收 益0.85元，较上年同期增长4.94%。 ...

南财智讯2月11日电，国博电子发布2025年度业绩快报，报告期内公司实现营业收入23.86亿元，同比下 降7.92%；归属于上市公司股东的净利润5.08亿元，同比增长4.72%；基本每股收益0.85元，同比增长 4.94%。 ...

2月10日，国博电子大宗交易成交20.8万股，成交额2195.24万元，占当日总成交额的4.01%，成交价105.54元，较市场收盘价119.25元折价11.5%。 | 交易日期 | 证券简称 | 证券代码 | | | 成交价(元) 成交金额(万元) 成交量(*) 买入营业部 | | | 卖出营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2026-02-10 | 国博电子 | 688375 | 105.54 | 1055.4 | 10 | 机构专用 | 机构专用 | | | 2026-02-10 | 国博电子 | 688375 | 105.54 | 527.7 | 5 | 机构专用 | 机构专用 | | | 2026-02-10 | 国博电子 | 688375 | 105.54 | 211.08 | 2 | 国泰海迪址分股份 有限公司总部 | 机构专用 | | | 2026-02-10 | 国博电子 | 688375 | 105.54 | 200.53 | 1.9 | 联储止劳战公有限 公司陕西分公司 | 机构专用 | | | ...

Group 1: Electronic Industry Insights - The electronic industry index fell by 3.73% in the week of February 2-6, 2026, with semiconductors down 3.02% and consumer electronics down 4.19% [5][8] - Google's capital expenditure guidance for 2026 is projected to be between $175 billion and $185 billion, exceeding previous market expectations of $130 billion [9][10] - The smartphone market is not expected to recover until at least 2027, with a significant decline in revenue anticipated for companies like MediaTek and Qualcomm in Q1 2026 [9][10] Group 2: Semiconductor Sector Developments - The ongoing tight supply and demand situation for memory chips has led to price increases, with Infineon announcing price hikes due to rising costs [10][11] - The report suggests focusing on the supply chain of Changxin Storage and the cascading effects of semiconductor price increases, with a recommendation to pay attention to semiconductor equipment investment opportunities [11][12] - Recommended stocks include North China Innovation, Zhongwei Company, and Tuojing Technology, with beneficiaries including Jingce Electronics and Zhaoyi Innovation [12] Group 3: Media and Gaming Sector Trends - The game "Yihuan" has received positive feedback during its third test, with over 20 million pre-registrations, indicating strong market interest [14][15] - The gaming industry is expected to maintain high prosperity due to the combination of intensive operational activities and holiday seasons, with recommendations to invest in companies like Perfect World and Xindong Company [15][16] - ByteDance's AI video model Seedance 2.0 has shown impressive results, potentially accelerating the commercialization of AI in short-form content [16] Group 4: Military and Aerospace Sector Analysis - Guobang Electronics is positioned to benefit from the acceleration of commercial aerospace and the "14th Five-Year Plan" military product orders, with expected revenue growth from satellite T/R components [18][19] - The company is projected to achieve net profits of 484 million, 665 million, and 831 million yuan from 2025 to 2027, with corresponding EPS of 0.81, 1.12, and 1.39 yuan per share [18][19] - The market for satellite T/R components is expected to reach 30 billion yuan as China moves towards a new era of commercial aerospace [19][20]

Summary of Key Points Core Viewpoint - On February 9, Guobo Electronics executed a block trade of 37,600 shares, amounting to 4.0503 million yuan, which represented 0.76% of the total trading volume for the day. The transaction price was 107.72 yuan, reflecting an 11.5% discount compared to the market closing price of 121.72 yuan [1]. Group 1 - The block trade involved 37,600 shares of Guobo Electronics, with a total transaction value of 4.0503 million yuan [1]. - The transaction price of 107.72 yuan was significantly lower than the market closing price, indicating a discount of 11.5% [1]. - The total trading volume for the day was impacted by this block trade, accounting for 0.76% of the overall trading activity [1]. Group 2 - The trade was categorized as an institutional special transaction, indicating that it was likely conducted by a specialized trading department [2]. - The buying department for the transaction was identified as an institutional proprietary trading unit, suggesting a strategic investment approach [2]. - The transaction details highlight the involvement of institutional investors, which may reflect confidence in the company's future performance despite the current discount [2].

Core Viewpoint - Guobo Electronics is positioned as a leader in active phased array T/R components and RF integrated circuits, with applications in military radar, precision guidance, satellite communication, and civilian communication scenarios such as 5G base stations and smartphones [1] Group 1: Growth Opportunities - The acceleration of commercial space exploration is expected to create a significant market, with the recoverable rocket breakthrough by 2026 likely to drive a low-orbit satellite network, positioning Guobo Electronics as a core supplier of satellite T/R components, potentially benefiting from a market worth hundreds of billions [1] - The initiation of the "14th Five-Year Plan" military product deployment cycle is anticipated to boost the company's military T/R component business back to a high point [1] - The company has already mass-produced over 1 million silicon-based gallium nitride RF chips for smartphones, with significant growth expected as it aims to enter the new market of direct satellite connectivity for mobile phones [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is positioned as a leader in active phased array T/R components, with growth driven by commercial aerospace and military orders [1] - The company is expected to benefit from a significant market opportunity in low Earth orbit satellite networks, with a potential market size of hundreds of billions [2] - The "14th Five-Year Plan" military procurement cycle is anticipated to drive the company's military T/R component business back to peak levels [3] - The company has successfully mass-produced silicon-based gallium nitride (GaN) RF chips for mobile phones, with over 1 million units delivered, indicating strong growth potential [4] Financial Summary and Valuation Indicators - Revenue is projected to grow from 2.63 billion in 2025 to 4.54 billion in 2027, with a year-on-year growth rate of 34.9% [5] - Net profit attributable to shareholders is expected to increase from 484 million in 2025 to 831 million in 2027, with a year-on-year growth rate of 24.9% [5] - The company's EPS is forecasted to rise from 0.81 in 2025 to 1.39 in 2027, with corresponding P/E ratios decreasing from 146.6 to 85.4 [5] - The current stock price is 119.00, with a market capitalization of approximately 70.93 billion [6] Business Overview - The company has over 20 years of experience in the microwave device field, establishing itself as a key supplier of active phased array T/R components [13] - The main business involves the R&D, production, and sales of active phased array T/R components and RF integrated circuits, which are critical for radar systems [17] - The company has a strong focus on high-frequency, high-density T/R components, primarily serving military and satellite communication markets [61] Growth Drivers - The commercial aerospace sector is expected to accelerate, with the company positioned to benefit from the upcoming breakthroughs in reusable rocket technology [2][36] - The military procurement cycle under the "15th Five-Year Plan" is likely to lead to increased orders for the company's military T/R components [62] - The third-generation semiconductor RF chip business is anticipated to open new growth avenues, particularly in mobile phone applications and satellite direct connection technologies [64][65]