Monetary Policy and Financing - As of the end of July, the broad money supply (M2) reached 329.94 trillion yuan, with a year-on-year growth of 8.8%, up from 8.3% at the end of June [1] - The total social financing scale increased by 23.99 trillion yuan in the first seven months of 2025, which is 5.12 trillion yuan more than the same period last year [2] Company Performance - Tencent Holdings reported a second-quarter revenue of 184.5 billion yuan, a year-on-year increase of 15%, surpassing the estimated 178.94 billion yuan [3] - Aolai De expects a net profit decrease of 68.41% to 72.77% for the first half of 2025, with projected revenue between 270 million and 290 million yuan [12] - Longbo Technology announced a net profit growth of 60.18% for the first half of 2025, with revenue of 122 million yuan, an 18.03% increase [13] - Dingyang Technology reported a net profit of 76.88 million yuan for the first half of 2025, reflecting a year-on-year growth of 31.54% [14] - Dongfang Precision Engineering achieved a net profit of approximately 397 million yuan, a significant year-on-year increase of 142.52% [15] Market Trends - The Shanghai Composite Index rose by 0.48%, reaching a nearly four-year high, with total trading volume exceeding 2.1 trillion yuan [16] - AI hardware stocks have shown strong performance, with several stocks reaching historical highs [16]

Core Viewpoint - The company, OLED, is experiencing a significant decline in overall revenue and net profit for the first half of 2025, primarily due to a sharp drop in sales from its equipment segment, despite growth in its materials segment [1][2]. Financial Performance - OLED expects to achieve revenue between 270 million to 290 million yuan for the first half of 2025, representing a year-on-year decrease of 15.23% to 21.07% [1] - The materials segment is projected to generate revenue of 250 million to 260 million yuan, showing a year-on-year increase of 18.67% to 23.41% [1] - The equipment segment is expected to earn 23 million to 24 million yuan, reflecting a significant decline of 81.70% to 82.46% year-on-year [1] - The net profit attributable to the parent company is anticipated to be between 25 million to 29 million yuan, down 68.41% to 72.77% year-on-year [1] - The net profit after excluding non-recurring gains and losses is projected to be between 4 million to 4.8 million yuan, a decrease of 92.46% to 93.71% year-on-year [1] Business Segments - The company operates in the OLED industry, focusing on the upstream segment, including the research, manufacturing, and sales of organic light-emitting materials and evaporation source equipment [2] - The materials business achieved revenue of 363 million yuan in 2024, marking a year-on-year growth of 14.31% [2] - The equipment business generated 169 million yuan in revenue in 2024, which is a year-on-year decline of 15% [2] - In Q1 2025, the company reported revenue of 153 million yuan, with the materials segment reaching a historical high of 136 million yuan, up 5.33% year-on-year [2] Strategic Initiatives - The company plans to raise up to 300 million yuan through a simplified procedure for issuing shares, with the funds aimed at establishing a PSPI materials production base and supplementing working capital [3] - The new PSPI production base is expected to enhance production capacity and order fulfillment capabilities, thereby improving profitability and business synergy with downstream display panel manufacturers [3][4] - Increasing working capital is crucial for supporting future business expansion and optimizing the company's capital structure, which will help reduce financial costs and enhance risk resilience [4]

Group 1 - Kaizhong Precision plans to invest up to 250 million yuan to establish a subsidiary and build a production base in Thailand, focusing on overseas connector and precision component business [1] - Longbo Technology reported a 60.18% year-on-year increase in net profit for the first half of 2025, with revenue of 122 million yuan, up 18.03% [2] - Dingyang Technology achieved a net profit of 76.88 million yuan in the first half of 2025, a year-on-year increase of 31.54%, with revenue of 279 million yuan, up 24.61% [4] Group 2 - Heng Rui Pharmaceutical received approval for clinical trials of two drugs, SHR-A2102 and Adebeli monoclonal antibody injection [6] - Maolai Optical plans to use up to 100 million yuan of idle funds for entrusted wealth management to improve fund utilization efficiency [8] - Shiji Information signed a major contract with MGM Grand, providing a next-generation cloud-based hotel information management system [7] Group 3 - Yunnan Germanium's subsidiary received a government subsidy of 6.8 million yuan related to revenue [9] - Jizhi Co. received a warning letter from the Zhejiang Securities Regulatory Bureau for failing to disclose significant government subsidies [10] - Dongfang Precision reported a net profit of approximately 397 million yuan for the first half of 2025, a year-on-year increase of 142.52% [11] Group 4 - Aolaide expects a net profit decrease of 68.41% to 72.77% for the first half of 2025, with revenue projected between 270 million and 290 million yuan [12] - Feilong Co. used 111 million yuan of idle funds for cash management through structured deposit products [13] - Anhui Construction won two major projects with a total investment exceeding 6.6 billion yuan [15] Group 5 - Yunnan Germanium's subsidiary received a government subsidy of 6.8 million yuan related to revenue [9] - Jizhi Co. received a warning letter from the Zhejiang Securities Regulatory Bureau for failing to disclose significant government subsidies [10] - Dongfang Precision reported a net profit of approximately 397 million yuan for the first half of 2025, a year-on-year increase of 142.52% [11] Group 6 - China Medical's subsidiary received approval for the listing of fumaric acid volnora raw materials [20] - Huayuan Vaccine's subsidiary received approval for clinical trials of Hib vaccine [29] - Ganfeng Lithium plans to integrate lithium salt lake projects in Argentina and provide financial support of up to 130 million USD [41]

奥来德8月13日晚间发布业绩预告，预计实现归属于母公司所有者的净利润为2500万元~2900万元，与 上年同期相比，将减少6281.32万元~6681.32万元，同比减少68.41%~72.77%。 （文章来源：每日经济新闻） ...

[Current Period Performance Forecast](index=1&type=section&id=%E4%B8%80%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E6%83%85%E5%86%B5) The company forecasts a significant decline in H1 2025 total revenue and net profit, primarily driven by an over 80% drop in equipment segment revenue, despite growth in the materials segment Key Performance Indicators Forecast for H1 2025 | Indicator | H1 2025 Forecast (RMB) | YoY Change | | :--- | :--- | :--- | | **Operating Revenue** | **270.00 million yuan - 290.00 million yuan** | **-15.23% to -21.07%** | | - Materials Segment Revenue | 250.00 million yuan - 260.00 million yuan | +18.67% to +23.41% | | - Equipment Segment Revenue | 23.00 million yuan - 24.00 million yuan | -81.70% to -82.46% | | **Net Profit Attributable to Parent Company Shareholders** | **25.00 million yuan - 29.00 million yuan** | **-68.41% to -72.77%** | | **Net Profit Attributable to Parent Company Shareholders (Excluding Non-Recurring Items)** | **4.00 million yuan - 4.80 million yuan** | **-92.46% to -93.71%** | - This performance forecast covers the period from January 1, 2025, to June 30, 2025[2](index=2&type=chunk) - The data in this performance forecast has not been audited by a certified public accountant[5](index=5&type=chunk) [Prior Period Performance Review](index=2&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%8A%E5%B9%B4%E5%90%8C%E6%9C%9F%E4%B8%9A%E7%BB%A9%E6%83%85%E5%86%B5%E5%92%8C%E8%B4%A2%E5%8A%A1%E7%8A%B6%E5%86%B5) This section presents the H1 2024 performance benchmarks, including **342.10 million yuan** in operating revenue and **91.81 million yuan** in net profit attributable to parent company shareholders H1 2024 Performance Review (Prior Period) | Indicator | Amount (RMB) | | :--- | :--- | | Operating Revenue | 342.0964 million yuan | | Net Profit Attributable to Parent Company Shareholders | 91.8132 million yuan | | Net Profit Attributable to Parent Company Shareholders (Excluding Non-Recurring Items) | 63.6260 million yuan | | Earnings Per Share | 0.44 yuan | [Analysis of Performance Changes](index=2&type=section&id=%E4%B8%89%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E5%8F%98%E5%8C%96%E7%9A%84%E4%B8%BB%E8%A6%81%E5%8E%9F%E5%9B%A0) The company attributes the performance decline to a significant reduction in high-margin evaporator equipment sales, which dropped over 81% year-on-year, and the absence of a **12.53 million yuan** one-time investment gain from equity disposal recognized in the prior year - The primary reason for the performance decline is a significant drop in evaporator equipment sales revenue, decreasing by **81.70% to 82.46%** year-on-year, which was not offset by approximately **20%** growth in materials sales revenue[8](index=8&type=chunk) - Non-operating gains in the prior period included a one-time investment income of **12.5299 million yuan** from the disposal of equity in an associate company, which was absent in the current period, contributing to the larger year-on-year profit decline[9](index=9&type=chunk) [Risk Warning](index=2&type=section&id=%E5%9B%9B%E3%80%81%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) The company explicitly states that this performance forecast is a preliminary estimate by the finance department, unaudited by certified public accountants, and thus the final results may be subject to uncertainty - The company emphasizes that this performance forecast is a preliminary, unaudited result, with no significant uncertainties currently identified that would impact its accuracy[11](index=11&type=chunk) [Other Explanatory Notes](index=3&type=section&id=%E4%BA%94%E3%80%81%E5%85%B6%E4%BB%96%E8%AF%B4%E6%98%8E%E4%BA%8B%E9%A1%B9) The company reiterates that the disclosed forecast data is preliminary, and the final accurate financial figures will be based on the official 2025 semi-annual report, advising investors to be aware of investment risks - The final accurate financial data will be based on the company's officially disclosed 2025 semi-annual report, and investors are reminded to be aware of investment risks[12](index=12&type=chunk)

Core Viewpoint - The article highlights the advancements and strategic initiatives of Aolide in the OLED industry, particularly focusing on the delivery of key evaporation source equipment and the launch of a new materials project aimed at enhancing production capabilities and market share [1][2][3][4]. Group 1: Equipment Delivery - Aolide's subsidiary, Shanghai Shengxi, delivered the first batch of 8.6-generation linear evaporation source equipment to BOE, marking a significant technological upgrade from 6th to 8.6-generation [1][2]. - The linear evaporation source equipment is crucial for the uniform distribution of organic materials on substrates, directly impacting key technical indicators such as film thickness uniformity and deposition rate [2]. Group 2: New Project Launch - Aolide commenced a key functional materials project for OLED displays in Jilin, with a total investment of approximately 300 million yuan, focusing on critical materials such as photosensitive polyimide (PSPI) and organic light-emitting materials [3][4]. - The project is expected to achieve an annual revenue of 383 million yuan and a net profit of approximately 57.51 million yuan in its first year of operation [4]. - This initiative aims to capitalize on the rapid growth of the OLED industry and the opportunities presented by the domestic substitution of PSPI materials, enhancing Aolide's competitive advantage in the OLED core display materials sector [4].

Core Viewpoint - Aolide (688378.SH) expects a significant decline in net profit for the first half of 2025, projecting a decrease of 68.41% to 72.77% compared to the same period last year [1] Financial Performance - The company anticipates net profit attributable to shareholders to be between 25 million to 29 million yuan, a drop of 62.81 million to 66.81 million yuan year-on-year [1] - Revenue from material sales is expected to grow approximately 20% year-on-year [1] - However, revenue from evaporator equipment sales is projected to decline significantly, with a year-on-year decrease of 81.70% to 82.46% [1] - Overall operating revenue is expected to decrease by 15.23% to 21.07% year-on-year [1] - Both net profit and net profit excluding non-recurring gains and losses are expected to decline significantly [1]

格隆汇8月13日｜奥来德公告，预计2025年1月1日至2025年6月30日，营业收入为2.7亿元至2.9亿元，与 上年同期相比减少15.23%至21.07%。预计实现归属于母公司所有者的净利润为2500万元至2900万元， 与上年同期相比减少68.41%至72.77%。预计实现归属于母公司所有者的扣除非经常性损益的净利润为 400万元至480万元，与上年同期相比减少92.46%至93.71%。 ...

Core Viewpoint - Aolide (688378.SH) is expected to report a significant decline in both revenue and net profit for the first half of 2025, indicating challenges in its business operations [1] Financial Performance Summary - The company anticipates revenue between 270 million to 290 million yuan, representing a year-on-year decrease of 15.23% to 21.07% [1] - The projected net profit attributable to shareholders is expected to be between 25 million to 29 million yuan, reflecting a substantial decline of 68.41% to 72.77% year-on-year [1] - The net profit after excluding non-recurring gains and losses is forecasted to be between 4 million to 4.8 million yuan, indicating a drastic reduction of 92.46% to 93.71% compared to the previous year [1] Sales Performance Analysis - Material sales revenue is projected to grow approximately 20% year-on-year [1] - However, the sales revenue from evaporation source equipment is expected to decline significantly, with a year-on-year decrease of 81.70% to 82.46%, which heavily impacts overall revenue [1]

奥来德8月13日公告，预计2025年上半年实现营业收入2.7亿元-2.9亿元，同比减少15.23%-21.07%。预计 上半年归属母公司净利润2500万元-2900万元，同比减少68.41%-72.77%。 ...