证券日报网讯1月29日，源杰科技发布公告称，公司预计2025年年度实现归属于母公司所有者的净利润 为17，500万元到20，500万元，与上年同期-613.39万元相比扭亏为盈。 ...

智通财经APP讯，源杰科技(688498.SH)发布公告，公司预计2025年年度实现归属于母公司所有者的净 利润与上年同期相比，将实现扭亏为盈，实现归属于母公司所有者的净利润1.75亿元至2.05亿元。 ...

Group 1 - The company, Yuanjie Technology (688498.SH), announced that it expects to achieve a net profit attributable to shareholders of the parent company between 175 million and 205 million yuan for the year 2025, indicating a turnaround from losses to profits compared to the same period last year [1]

Group 1: Suspension and Resumption of Trading - Jiangfeng Electronics plans to acquire control of Kaide Quartz in cash, leading to a suspension of its stock trading [1] Group 2: Share Buyback - Hengyuan Coal Power intends to repurchase company shares worth between 200 million to 250 million yuan [2] Group 3: External Investment and Daily Operations - Beijing Lier plans to raise no more than 1.034 billion yuan through a private placement for projects related to new energy and aerospace zirconium-based materials [3] - Tongfei Co. aims to raise no more than 1.2 billion yuan through a private placement for a liquid cooling temperature control project [3] Group 4: Performance Changes - BlueFocus expects a net profit of 180 million to 220 million yuan in 2025, turning from loss to profit [4] - Yuanjie Technology anticipates a net profit of 175 million to 205 million yuan in 2025, also turning from loss to profit [4] - Jiangbolong forecasts a net profit of 1.25 billion to 1.55 billion yuan for 2025, representing a year-on-year increase of 150.66% to 210.82% due to rising storage prices driven by AI server demand [4] - Century Huatong expects a net profit of 5.55 billion to 6.98 billion yuan in 2025, a year-on-year growth of 357% to 475% [4] - Goodwe anticipates a net profit of 125 million to 162 million yuan in 2025, with significant increases in inverter and energy storage battery sales and gross profit [4] - Mingyang Circuit expects a net profit of 78 million to 95 million yuan in 2025, a year-on-year increase of 585.19% to 734.52% [4] - Beijing Junzheng forecasts a net profit of 370 million to 403 million yuan in 2025, a year-on-year growth of 1.05% to 10.05% [4] - Ninebot Company expects a net profit of 1.67 billion to 1.85 billion yuan in 2025, a year-on-year increase of 54.04% to 70.64% [5] - Sichuan Gold anticipates a net profit of 420 million to 480 million yuan in 2025, a year-on-year growth of 69.23% to 93.40% due to increased sales volume and rising gold prices [5] - Tianqi Lithium expects a net profit of 369 million to 553 million yuan in 2025, turning from loss to profit [5] - Shenghe Resources forecasts a net profit of 790 million to 910 million yuan in 2025, a year-on-year increase of 281.28% to 339.20% due to rising rare earth market prices [5] - Huatai Securities expects a net profit of 2.104 billion yuan in 2025, a year-on-year growth of 41.64% [5] - Founder Securities anticipates a net profit of 3.86 billion to 4.08 billion yuan in 2025, a year-on-year increase of 75% to 85% driven by wealth management and subsidiary business revenue growth [5] - Gaode Infrared expects a net profit of 700 million to 900 million yuan in 2025, turning from loss to profit [5] - Shengyi Technology forecasts a net profit of 3.25 billion to 3.45 billion yuan in 2025, a year-on-year increase of 87% to 98% due to rising sales of copper-clad laminates [6] - Shengyi Electronics anticipates a net profit of 1.431 billion to 1.513 billion yuan in 2025, a year-on-year increase of 331.03% to 355.88% [6] - Green Harmonics expects a net profit of 115 million to 130 million yuan in 2025, a year-on-year growth of 104.74% to 131.45% [7] - Huibai New Materials anticipates a net profit of 62 million to 75 million yuan in 2025, a year-on-year increase of 672.68% to 834.70% due to significant sales growth of epoxy resin products for wind turbine blades [7]

（记者 张明双） 每经头条（nbdtoutiao）——水贝黄金平台"杰我睿"兑付危机调查：40倍杠杆对赌，金价越涨平台越 亏！老板自称"还在深圳"，投资者：兑付方案本金打两折，无法接受 每经AI快讯，源杰科技1月29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 利润与上年同期相比，将实现扭亏为盈，实现归属于母公司所有者的净利润1.75亿元到2.05亿元。业绩 变动主要原因是，2025年，公司数据中心业务实现增长，占公司整体的收入比例提升。公司整体产品结 构的进一步优化，加之数据中心产品毛利率较高，因而，公司的净利润水平同比增加。公司通过私募基 金间接参与股权投资，主要投资于中国境内的新一代信息技术、智能制造等高科技行业领域内具有发展 潜力的非上市企业。随着被投资企业估值上升，产生投资收益贡献。此外，2025年度，随着政府补助项 目完成验收，确认政府补助也对净利润有一定贡献。 ...

Financial Performance Expectations - The company expects a net profit attributable to shareholders of the parent company for 2025 to be between 175 million and 205 million yuan, marking a turnaround from a loss in the previous year [3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be between 150 million and 180 million yuan [3]. - In the previous year, the company reported a net loss of 6.13 million yuan attributable to shareholders of the parent company [5]. Business Growth and Contributions - The company's data center business is expected to grow, increasing its overall revenue share and contributing to improved net profit levels [7]. - The company has engaged in equity investments through private equity funds, focusing on high-tech industries, which have contributed to investment income as valuations of invested companies rise [8]. - Government subsidies are anticipated to positively impact net profit as related projects are completed and recognized in 2025 [8]. Financial Data and Risks - The earnings forecast data is preliminary and has not been audited by certified public accountants [4]. - The company emphasizes the importance of investors being aware of investment risks related to the preliminary financial data provided [10].

南财智讯1月29日电，源杰科技发布年度业绩预告，预计2025年全年归属于上市公司股东的净利润为 17,500万元—20,500万元，同比扭亏；预计2025年全年归属于上市公司股东的扣除非经常性损益的净利 润为15,000万元—18,000万元。归属于上市公司股东的净利润同比扭亏，主要原因为：（一）2025年， 公司数据中心业务实现增长，占公司整体的收入比例提升。公司整体产品结构的进一步优化，加之数据 中心产品毛利率较高，因而，公司的净利润水平同比增加。（二）公司通过私募基金间接参与股权投 资，主要投资于中国境内的新一代信息技术、智能制造等高科技行业领域内具有发展潜力的非上市企 业。随着被投资企业估值上升，产生投资收益贡献。此外，2025年度，随着政府补助项目完成验收，确 认政府补助也对净利润有一定贡献。 ...

源杰科技公告称，预计2025年年度实现归属于母公司所有者的净利润1.75 - 2.05亿元，上年同期为 - 613.39万元，实现扭亏为盈；扣除非经常性损益后的净利润1.5 - 1.8亿元。业绩增长主要因数据中心业 务增长、产品结构优化，且数据中心产品毛利率较高；同时，间接股权投资产生收益，以及确认政府补 助也有贡献。具体财务数据以经审计的2025年年报为准。 ...

Investment Rating - The industry investment rating is maintained as "Positive" [2] Core Insights - The report emphasizes the transition to the "SuperNode" era in computing infrastructure, driven by the increasing computational demands of AI models, which are evolving from pre-training to multi-faceted scaling [14][17] - The SuperNode architecture relies on enhanced interconnectivity, integrating multiple computing chips into a logical "super GPU/ASIC" to overcome the limitations of traditional single-server setups [39] - The report identifies three main investment themes: "Network End + AIDC + Computing End" and four key sectors: "Optical + Liquid Cooling + Power Supply + Chips" [7] Summary by Sections 1. Transition to SuperNode Era - The evolution of AI models necessitates a shift in computational infrastructure, with demands for higher performance and efficiency [14] - The report highlights the rapid growth in model parameters and training data, indicating a need for advanced computational clusters [14] 2. SuperNode Architecture - SuperNode clusters are defined as large-scale GPU/ASIC systems that expand from thousands to millions of computational units, utilizing both Scale Up and Scale Out strategies [17] - The architecture includes components such as computing nodes, switch trays, and power supply units, which are essential for the operation of SuperNode systems [80] 3. Upgrades in Key Components - The report notes that the increasing penetration of SuperNode servers will drive demand for high-power supplies, liquid cooling systems, and optical communication technologies [5][80] - Specific companies are highlighted as beneficiaries in the sectors of optical modules, liquid cooling, server power supplies, and exchange chips [7] 4. Domestic SuperNode Development - The report discusses the progress of domestic SuperNode solutions, particularly Huawei's Atlas 900 A3 and Atlas 960, which are designed to enhance the performance of domestic AI clusters [6][112] - The performance of domestic chips is shown to improve significantly when deployed in SuperNode configurations, effectively compensating for individual chip limitations [112]

Market Overview - A-shares continued to decline in early trading, with the ChiNext Index and Shenzhen Component Index dropping over 1% at one point before a collective rebound occurred around 10:02 AM, leading to the ChiNext Index and Shanghai Composite Index turning positive [2] - Notable stocks driving the market include New Yi Sheng, Zhongji Xuchuang, and Tianfu Communication, with Tianfu Communication rising over 11% and entering the top five in trading volume [2] North American Computing Chain - The North American computing chain saw a strong performance, with Yuanjie Technology rising over 10% and reaching a historical high of 815.54 yuan, making it the third highest-priced stock in A-shares with a market capitalization of 70.094 billion yuan [2] - Other stocks in this sector, such as Robotech and Shijia Photon, also experienced significant gains [5] Semiconductor Industry - The semiconductor industry was a key driver of the index's rise, with storage chips and semiconductor equipment sectors leading the gains. Notable stocks included Dongxin Co., which hit the daily limit, and Puran Co., which surged 16% [6][8] - Several companies in the storage chip sector reported substantial profit growth forecasts for 2025, with expected increases ranging from 81.77% to 167.31% year-on-year [8] - The semiconductor equipment market is expected to continue growing, driven by AI computing demand and advancements in packaging technology [9] Institutional Investment Trends - Zhongji Xuchuang has gained significant attention, becoming the largest holding for public funds by the end of Q4 2025, with a market value of 78.421 billion yuan. It has been the most increased stock for public funds for three consecutive quarters [5] - The acceleration of the technology cycle, particularly in AI and data centers, is expected to benefit leading suppliers in the sector [5]