Market Overview - The Shanghai Composite Index closed at 3740.50 points, above the six-month moving average, with an increase of 1.18% [1] - The total trading volume of A-shares reached 17,467.28 million yuan [1] Stocks Breaking the Six-Month Moving Average - A total of 187 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - Jingsai Technology (27.02%) - Haidaer (25.37%) - Huazhi Shumedia (16.28%) [1] Stocks with Smaller Deviation Rates - Stocks that have just crossed the six-month moving average with smaller deviation rates include: - Tianfang Biao - Anning Co. - Tianwei Foods [1] Performance of Selected Stocks - Jingsai Technology: Today's increase of 29.98%, turnover rate of 23.53%, six-month average price of 36.65 yuan, latest price of 46.56 yuan [1] - Haidaer: Today's increase of 30.00%, turnover rate of 24.95%, six-month average price of 47.67 yuan, latest price of 59.76 yuan [1] - Huazhi Shumedia: Today's increase of 20.02%, turnover rate of 8.50%, six-month average price of 9.95 yuan, latest price of 11.57 yuan [1]

Group 1 - The major shareholder of the company is Shenzhen Broadcasting Film and Television Group, which is initiated by the Publicity Department of the Shenzhen Municipal Committee of the Communist Party of China [2] - Shenzhen Broadcasting Film and Television Group has a registered capital of 326,733 million yuan and operates in various sectors including film and television services, new media, advertising, cable networks, digital technology, cultural tourism performances, cultural exhibitions, cultural data, and cultural parks [2] - The company collaborates with its major shareholder in areas such as program transmission, content production, integrated media platform operation, property leasing, and property management [2]

Group 1 - The television broadcasting sector increased by 2.04% on the trading day, with Hubei Broadcasting leading the gains [1] - The Shanghai Composite Index closed at 3617.6, up 0.96%, while the Shenzhen Component Index closed at 11106.96, up 0.59% [1] - Hubei Broadcasting's stock price rose by 10.09% to 6.22, with a trading volume of 1.39 million shares and a transaction value of 830 million yuan [1] Group 2 - The net inflow of main funds in the television broadcasting sector was 219 million yuan, while retail funds experienced a net outflow of 18.14 million yuan [1] - Hubei Broadcasting had a main fund net inflow of 236 million yuan, accounting for 28.49% of its total trading volume, while retail funds saw a net outflow of 132 million yuan [2] - Other notable stocks included Gehua Cable, which had a main fund net inflow of 29.12 million yuan, and Dongfang Mingzhu, with a net inflow of 24.85 million yuan [2]

Group 1 - The company, Tianwei Video, is a cable network operator primarily engaged in the transmission of live channels and video programs [2] - The company indicated that if there are broadcasts of the World Cup football events by central or local TV stations, customers can subscribe to the company's program products to watch [2]

Core Viewpoint - Tianwei Video (002238.SZ) is expected to report a net loss of between 23.5 million and 33.5 million yuan for the first half of the year, a significant decline from a profit of 10.77 million yuan in the same period last year, reflecting challenges in traditional broadcasting business and intense market competition [1][2]. Financial Performance - The projected net loss for the first half of the year is between 23.5 million and 33.5 million yuan, compared to a profit of 10.77 million yuan in the previous year, indicating a year-on-year change of -318.19% to -409.19% [2]. - For the full year 2024, the company reported total revenue of 1.303 billion yuan, a decrease of 11.82% from the previous year, and a net profit of -2.8095 million yuan, down 102.25% from 12.50704 million yuan [2]. Business Challenges - The decline in performance is attributed to reduced revenue and profit from core businesses such as cable television, broadband, and transmission fees, as well as a decrease in income from building coverage projects due to the impact of the real estate industry [2][3]. - The number of cable digital television users decreased to 1.1589 million as of June 30, 2024, down by 96,600 from the end of 2023, reflecting a shrinking demand for digital television [3]. Market Environment - The broadband market in Shenzhen is highly saturated with intense competition, limiting the potential for new user growth and affecting overall revenue from broadband services [3]. - The company is attempting to pivot towards new growth areas, including 5G services, but faces challenges such as content homogenization, insufficient competitiveness, and a lack of operational experience [3][4]. Strategic Initiatives - Tianwei Video is working to establish its data center business as a core pillar, although the industry is undergoing a transition and has not yet achieved scale efficiency [4]. - In the cloud and big data sector, the company has made efforts in technology development and market promotion, but faces fierce competition from leading internet companies, resulting in difficulties in expanding its cloud and big data business [4].

Group 1 - Aishuo Co., Ltd. expects a net loss of 170 million to 280 million yuan for the first half of 2025, with a net loss of 410 million to 520 million yuan after excluding non-recurring gains and losses [1] - Changcheng Military Industry anticipates a net loss of 25 million to 29.5 million yuan for the first half of 2025, with a net loss of 35 million to 41 million yuan after excluding non-recurring gains and losses [1] - Changyuan Donggu expects a net profit of 155 million to 180 million yuan for the first half of 2025, representing a year-on-year increase of 62.65% to 88.88% [1] Group 2 - Beifang Navigation forecasts a net profit of 105 million to 120 million yuan for the first half of 2025, turning around from a loss of 74.2168 million yuan in the same period last year [3] - Xizi Clean Energy expects a net profit of 130 million to 180 million yuan for the first half of 2025, a decrease of 47.40% to 62.01% compared to the same period last year [4] - Tianbao Infrastructure anticipates a net profit of 90 million to 130 million yuan for the first half of 2025, representing a year-on-year increase of 1581.80% to 2329.27% [4] Group 3 - Taiping Bird expects a net profit of approximately 77.7 million yuan for the first half of 2025, a decrease of about 55% compared to the same period last year [6] - Xibu Chuangye forecasts a net profit of approximately 295 million yuan for the first half of 2025, an increase of 88.99% compared to the same period last year [8] - Zhengbang Technology expects a net profit of 190 million to 210 million yuan for the first half of 2025, a year-on-year increase of 249.03% to 264.72% [9] Group 4 - Songzhi Co., Ltd. anticipates a net profit of 140 million to 170 million yuan for the first half of 2025, representing a year-on-year increase of 53.58% to 86.49% [10] - Hailide expects a net profit of 280 million to 310 million yuan for the first half of 2025, a year-on-year increase of 47.65% to 63.47% [12] - Chenhua Co., Ltd. forecasts a net profit of 48.8176 million to 56.6284 million yuan for the first half of 2025, a year-on-year increase of 25% to 45% [13] Group 5 - Yuanlin Co., Ltd. expects a net loss of 68 million to 92 million yuan for the first half of 2025, with a net loss of 70 million to 95 million yuan after excluding non-recurring gains and losses [14] - Chuanhua Zhili anticipates a net profit of 500 million to 550 million yuan for the first half of 2025, representing a year-on-year increase of 72.78% to 90.06% [15] - Longyuan Technology expects a net profit of 26 million to 31 million yuan for the first half of 2025, a year-on-year increase of 116.61% to 158.26% [17] Group 6 - Jiangshan Co., Ltd. forecasts a net profit of 300 million to 360 million yuan for the first half of 2025, a year-on-year increase of 75.65% to 110.78% [32] - Ganli Pharmaceutical expects a net profit of 600 million to 640 million yuan for the first half of 2025, a year-on-year increase of 100.73% to 114.12% [33] - Zhongyan Chemical's subsidiary signed a 6.809 billion yuan mining rights transfer contract [35]

Group 1: Company Performance - Northern Rare Earth expects a net profit of 900 million to 960 million yuan for the first half of 2025, representing a year-on-year increase of 1882.54% to 2014.71% [1] - Muyuan Foods anticipates a net profit of 10.5 billion to 11 billion yuan for the first half of 2025, reflecting a year-on-year growth of 924.6% to 973.39% [2] - Hongta Securities projects a net profit of 651 million to 696 million yuan for the first half of 2025, indicating a year-on-year increase of 45% to 55% [3] Group 2: Business Developments - Dazhihui clarifies that it has not engaged in businesses related to "stablecoins," "virtual asset trading," or "cross-border payments," following a significant stock price fluctuation [4] - Bluetech announces a share transfer agreement where its actual controller will change, with the Ma'anshan Municipal Government becoming the actual controller after the transfer of 18% of shares [5] Group 3: Industry Trends - Jiangsu Electric Power reports a 5.01% year-on-year increase in electricity generation for the first half of 2025 [6] - Jin'an Guoji anticipates a non-recurring net profit growth of 4700% to 6300% for the first half of 2025 [6] - New Beiyang expects a non-recurring net profit growth of 650% to 720% for the first half of 2025 [6]

Group 1 - The company expects a significant decline in net profit attributable to shareholders, projecting a loss of between 23.5 million yuan and 41.1 million yuan, compared to a profit of 10.77 million yuan in the same period last year, representing a year-on-year change of -318.19% to -411.04% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses is expected to be a loss of between 36.55 million yuan and 57.25 million yuan, compared to a loss of 7.03 million yuan in the same period last year, indicating a year-on-year change of -420.20% to -572.49% [1] - Basic earnings per share are projected to be a loss of between 0.0293 yuan and 0.0417 yuan, compared to earnings of 0.0134 yuan per share in the same period last year, reflecting a year-on-year change of -318.66% to -411.19% [1] Group 2 - The primary reasons for the decline in net profit are attributed to intense market competition affecting revenue and profit from core businesses such as cable television, broadband, and transmission fees, as well as a decrease in revenue and profit from building coverage projects due to the impact of the real estate industry [2]

[Current Period Performance Forecast](index=1&type=section&id=%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E8%AE%A1%E6%83%85%E5%86%B5) The company forecasts a H1 2025 net loss of 23.5 million to 33.5 million yuan, a significant year-on-year decline after retrospective adjustments for a common control merger Key Performance Indicators for H1 2025 Performance Forecast | Item | Current Period (Jan 1 - Jun 30, 2025) | Prior Period (Retrospectively Adjusted) | | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders of Listed Company** | Loss of 23.50 million to 33.50 million yuan | Profit of 10.7704 million yuan | | **Year-on-Year Change** | -318.19% to -411.04% | - | | **Net Profit After Deducting Non-Recurring Gains and Losses** | Loss of 36.55 million to 47.25 million yuan | Loss of 7.0261 million yuan | | **Year-on-Year Change** | -420.20% to -572.49% | - | | **Basic Earnings Per Share (EPS)** | Loss of 0.0293 to 0.0417 yuan/share | Profit of 0.0134 yuan/share | | **Year-on-Year Change** | -318.66% to -411.19% | - | - The company completed the acquisition of **70% equity** in Shenzhen Tianqing Digital Co., Ltd. in June 2025, which is a common control merger, leading to retrospective adjustments of comparative data for the prior period[4](index=4&type=chunk) [Communication with Accounting Firm](index=2&type=section&id=%E4%B8%8E%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%B2%9F%E9%80%9A%E6%83%85%E5%86%B5) The company explicitly states that the financial data in this performance forecast has not been pre-audited by an accounting firm - The financial data related to this performance forecast has not been pre-audited by a certified public accountant[5](index=5&type=chunk) [Explanation of Performance Changes](index=2&type=section&id=%E4%B8%9A%E7%BB%A9%E5%8F%98%E5%8A%A8%E5%8E%9F%E5%9B%A0%E8%AF%B4%E6%98%8E) The significant year-on-year performance decline is primarily due to increased market competition impacting core basic services and reduced building coverage projects from the real estate downturn - Due to intense market competition, the company's revenue and profit from basic services such as cable TV, broadband, and transmission fees have decreased[6](index=6&type=chunk) - Affected by the downturn in the real estate industry, building coverage projects have decreased, leading to a year-on-year reduction in related revenue and profit[6](index=6&type=chunk) [Risk Warning](index=2&type=section&id=%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) The company states this performance forecast has no major uncertainties but emphasizes that the preliminary, unaudited data is subject to the final H1 2025 report, advising investors to consult official disclosure channels - This performance forecast represents preliminary estimates by the company's finance department and has not been audited by an accounting firm; specific financial data will be detailed in the company's H1 2025 report[7](index=7&type=chunk) - The company's designated information disclosure media are China Securities Journal, Securities Times, and Juchao Information Network (http://www.cninfo.com.cn)[7](index=7&type=chunk)

Core Viewpoint - Tianwei Vision (002238) is expected to report a significant net loss for the period from January 1, 2025, to June 30, 2025, with projections indicating a loss between 23.5 million to 33.5 million yuan, representing a drastic change compared to the previous year's profit of 10.77 million yuan [1] Financial Summary - The net profit attributable to shareholders is projected to be a loss of 23.5 million to 33.5 million yuan, marking a change of -318.19% to -411.04% compared to the same period last year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses is expected to be a loss of 36.55 million to 47.25 million yuan, reflecting a change of -420.20% to -572.49% year-on-year [1] - The basic earnings per share are anticipated to be a loss of 0.0293 yuan to 0.0417 yuan, which is a change of -318.66% to -411.19% compared to the previous year's earnings of 0.0134 yuan per share [1]