Market Overview - As of January 5, the Shanghai Composite Index closed at 4023.42 points, with an increase of 1.38% [1] - The Shenzhen Component Index closed at 13828.63 points, up by 2.24% [1] - The ChiNext Index closed at 3294.55 points, rising by 2.85% [1] Trading Volume Analysis - A total of 2944 stocks saw an increase in average transaction volume, with 120 stocks experiencing a rise of over 50% [1] - 1627 stocks reported a decrease in average transaction volume [1] - Notable stocks with significant increases in transaction volume include Meihua Medical, Shengda Forestry, and Guanghua Co., Ltd. [1] Active Stocks by Transaction Volume - The stocks with the highest increase in average transaction volume include: - Meihua Medical: 20.00% increase, average transaction volume of 1815 shares, up by 407.72% [2] - Shengda Forestry: 10.05% increase, average transaction volume of 3127 shares, up by 185.31% [2] - Guanghua Co., Ltd.: 10.00% increase, average transaction volume of 768 shares, up by 185.24% [2] Active Stocks by Transaction Count - The stocks with the highest increase in transaction count include: - Tianchuang Fashion: 1.65% increase, 53725 transactions, up by 1815.33% [3] - *ST Yushun: -4.97% decrease, 5787 transactions, up by 1653.64% [3] - Hefei Urban Construction: 4.36% increase, 168503 transactions, up by 1330.05% [3] Stocks with Significant Increases in Both Volume and Count - Aipeng Medical: 20.00% increase, average transaction volume of 781 shares, up by 179.31%, with 24056 transactions, up by 81.27% [4] - Dayang Biological: 10.01% increase, average transaction volume of 623 shares, up by 164.36%, with 14388 transactions, up by 127.91% [5] - Maipu Medical: 20.00% increase, average transaction volume of 384 shares, up by 135.27%, with 9581 transactions, up by 315.66% [5]

Core Viewpoint - The company *ST Yushun has announced that its stock price has experienced an abnormal fluctuation, with a cumulative decline exceeding 12% over three consecutive trading days from December 30, 2025, to January 5, 2026 [1] Financial Performance - For the fiscal year 2024, the company reported negative net profit and negative net profit excluding non-recurring items, with revenue falling below 300 million [1] - The financial data for 2025 is currently being calculated, and if it meets certain criteria, the stock will be delisted [1] Risk Warnings - Starting from May 6, 2025, the company will be subject to delisting risk warnings due to its financial performance [1] Major Asset Restructuring - The company is advancing a significant asset restructuring plan, which includes a cash acquisition of 100% equity in three companies, including Zhong'en Cloud (Beijing) [1] - There are risks associated with the funding arrangements for this transaction [1]

截至本公告披露日，公司 2025 年年度财务数据正在核算中，公司将按照规 定及时披露 2025 年度业绩预告。 2、为提升公司资产质量，提高盈利能力，公司正在进行重大资产重组。本 次交易方案已经公司 2025 年第二次临时股东大会审议通过，本次交易尚未实施 完毕，公司正在与相关方继续积极推进本次交易的相关工作，详见公司于 2025 年 12 月 30 日披露的《深圳市宇顺电子股份有限公司关于重大资产购买的进展公 告》（公告编号：2025-129）。本次交易存在资金筹措及偿债风险、股东收益下 降的风险，商誉减值的风险，标的公司股权的质押风险，标的公司业务经营相关 等风险，具体内容请参见公司于 2025 年 9 月 13 日披露的《深圳市宇顺电子股份 有限公司重大资产购买报告书（草案）（修订稿）》之"重大风险提示""第十 一节 风险因素"。 证券代码：002289 证券简称：*ST宇顺 公告编号：2026-001 深圳市宇顺电子股份有限公司 股票交易异常波动暨风险提示公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 1、深圳市宇顺电子股份有限公司（ ...

Market Performance - In 2025, the A-share market showed strong performance, with the Shanghai Composite Index closing at 3968.84 points, marking an annual increase of 18.41%, the largest since 2020 [2] - The Shenzhen Component Index surged by 29.87%, while the ChiNext Index saw a remarkable rise of 49.57% [2] - The Hong Kong market also performed well, with the Hang Seng Index increasing by 27.77% and the Hang Seng Tech Index rising by 23.45% [3] Sector Performance - The non-ferrous metals sector led the annual gains with a staggering increase of 94.73%, driven by soaring precious metal prices and rare earth export restrictions [4] - The communication sector followed with an 84.75% increase, while electronics, comprehensive, power equipment, and machinery sectors all saw gains exceeding 40% [4] - Conversely, the coal and food & beverage sectors were among the few to record declines, with decreases of 5.27% and 9.69%, respectively [4] Stock Performance - A total of 540 stocks in the A-share market doubled in price in 2025, with the top performers being Upway New Materials and Tianpu Co., with increases of 1820.29% and 1645.35%, respectively [5] - Notable stocks with significant annual gains exceeding 500% included *ST Yushun, *ST Yazhen, and Shenghong Technology, among others [5] - On the downside, 25 stocks experienced annual declines of over 40%, with Shijin Technology leading with a drop of 50.99% [5] Financing Trends - As of December 30, 2025, the A-share financing balance reached a record high of 25,385.25 billion yuan, maintaining above 25 trillion yuan for six consecutive days [9] - The financing balance increased by 6,843.8 billion yuan compared to the end of 2024, representing a year-on-year growth of 36.91% [10] - The electronics and power equipment sectors saw net inflows exceeding 1,000 billion yuan, while communication, machinery, and non-ferrous metals sectors also attracted significant investments [10] Notable Stocks in Financing - A total of 133 stocks had net financing purchases exceeding 10 billion yuan, with New Yisheng, Ningde Times, and Shenghong Technology among the top [12] - The "three swordsmen" of optical modules, New Yisheng and Zhongji Xuchuang, received substantial financing support, with net purchases exceeding 100 billion yuan [13] - Conversely, stocks like Muyuan Foods and Oriental Fortune faced significant net financing repayments, exceeding 10 billion yuan [11][13]

Core Insights - In 2025, nearly 80% of A-shares (4,230 stocks) experienced annual gains, with the Shanghai Composite Index rising by 18.41% and 2,921 stocks outperforming the market [1][4] - A total of 540 stocks doubled in price, and 10 stocks saw gains exceeding 500%, becoming "wealth creation machines" for investors [1][4] Top Gainers - The top gainer, Shangwei New Materials, surged by 1,820.29%, followed by Tianpu Co., which rose by 1,645.35%. Both companies benefited from restructuring and acquisition activities [2][5] - Shangwei New Materials had 16 trading halts, while Tianpu Co. had 33, indicating strong market interest [2][5] Controversial Stocks - *ST Yushun and *ST Yezhen, both under delisting risk warnings, achieved remarkable gains of 719% and 637%, respectively. This volatility is viewed as speculative behavior by investors [3][6] - *ST Yushun recorded 70 trading halts, the highest in A-shares, while *ST Yezhen had 65 [3][6] Other Notable Performers - The remaining stocks in the top 10, including Shenghong Technology, Feiwo Technology, Filinger, Ding Tai High-Tech, Hengbo Co., and Shunhao Co., saw annual gains between 500% and 600% [3][6] - Shenghong Technology's 586% increase was driven by the expansion of the AI server market, with a 324% rise in net profit for the first three quarters [3][6] - Feiwo Technology, a leader in wind power fasteners, benefited from the booming commercial aerospace and low-altitude economy, achieving a 581% increase [3][6] - Shunhao Co. entered the commercial aerospace sector through a 1.1 billion yuan acquisition, resulting in a 507% stock price increase [3][6] Industry Distribution - The top 10 gainers represented a diverse range of industries, including plastics, automotive parts, optical electronics, household goods, wind power equipment, and packaging [4][7]

Core Viewpoint - The A-share market experienced significant growth in 2025, with major indices showing impressive gains and a total market capitalization increase of 25.30 trillion yuan, reflecting a robust performance driven by high-tech industries and emerging sectors [2][3][5]. Market Performance - The major indices for 2025 recorded the following gains: - Sci-Tech 100: +54.63% - ChiNext Index: +49.57% - Shenzhen Component Index: +29.87% - Shanghai Composite Index: +18.41% [4][6]. - The total market capitalization of A-shares reached 118.91 trillion yuan, up from 93.61 trillion yuan at the beginning of the year, marking a 27.03% increase [5][6]. Sector Contributions - High-tech industries contributed significantly to the market capitalization increase, with the information technology, materials, and industrial sectors accounting for over 60% of the total market value growth [6]. - The electronics, instruments, and components sector saw its market capitalization rise from 5.26 trillion yuan to 8.82 trillion yuan, an increase of 3.55 trillion yuan, making it the sector with the highest market value growth [6]. Individual Stock Performance - The stock with the highest increase in 2025 was Shangwei New Materials, which surged by 1820.29%, earning the title of "King of Gains" for the year [6]. - Other notable performers included Tianpu Co., which rose by 1645.35%, and *ST Yushun, which increased by 719.38% [6]. Future Market Outlook - Institutions are optimistic about the market's performance in 2026, with expectations of a "slow bull" market and continued upward momentum [7][8]. - Analysts predict that the overall performance of listed companies will improve, supported by favorable economic policies and liquidity conditions [8][9]. - The technology sector is expected to remain a key focus, with ongoing trends in AI and other high-tech industries driving growth [9].

Core Viewpoint - The A-share market experienced a strong performance in 2025, with major indices rising significantly, particularly the Shanghai Composite Index, which closed at 3968.84 points, marking an 18.41% increase for the year [1][3][4]. Group 1: Market Performance - The A-share market saw over 4000 listed companies' stock prices rise, with approximately 80% of stocks increasing in value, compared to only 20% in the previous year [2][4]. - The ChiNext Index had the best performance, with a cumulative increase of 49.57% throughout the year, while the Shanghai Composite Index surpassed the 4000-point mark for the first time in ten years [3][4]. - The market's upward trend was supported by a significant influx of global capital, which reversed the previous outflow trend, enhancing investor confidence in China's technological innovations [4][10]. Group 2: Notable Stocks - The top-performing stock of the year was Upway New Materials, which achieved an impressive increase of over 1800%, followed by Tianpu Co., Ltd. with a rise exceeding 1600% [2][5]. - More than 500 stocks doubled their prices in 2025, a significant increase from 82 stocks in the previous year, indicating a robust market environment [8]. - Other notable stocks included *ST Yushun and *ST Yazhen, which also saw substantial gains, with increases of 719.38% and 636.7% respectively [6][7]. Group 3: Sector Trends - "Technology" and "mergers and acquisitions" emerged as the dominant themes driving the market, with a notable surge in interest towards hard technology and acquisition-related stocks [2][9]. - The market's enthusiasm for technology stocks was fueled by significant breakthroughs in AI and other tech sectors, leading to substantial capital inflows and stock price increases [9][10]. - The trend of mergers and acquisitions is expected to continue, focusing on high-end manufacturing and new energy sectors, as companies seek to enhance their growth through strategic resource integration [10].

Core Viewpoint - The A-share market concluded 2025 with a historic breakthrough, characterized by "policy-driven, technology-led, and structural differentiation" trends, with a total market value exceeding 109 trillion yuan and annual trading volume surpassing 400 trillion yuan [1] Market Performance - The major indices of the A-share market all showed positive performance, with significant differentiation among them [1] - The ChiNext Index led with an annual increase of 49.57%, followed by the Sci-Tech 50 Index at 35.92%, the Shanghai Composite Index at 18.41%, and the Shenzhen Component Index at 29.87% [1] Sector Performance - Various sectors such as computing hardware, non-ferrous metals, banking, battery supply chain, innovative pharmaceuticals, commercial aerospace, and robotics contributed to the market's performance, with the Shanghai Composite Index briefly surpassing 4000 points [1] - A total of 4073 stocks in the market recorded positive annual growth, indicating a shift from "real estate-driven" to "innovation-driven" market dynamics [1] Top Performing Stocks - The top 10 stocks by annual growth rate (excluding new listings and the Beijing Stock Exchange) showcased significant price increases, reflecting market trends and speculative interests [1] - Notable performers included: - Top 1: Shangwei New Materials (688585) with a growth of 1821.12% and a turnover rate of 360.55% - Top 2: Tianpu Co., Ltd. (605255) with a growth of 1662.49% and a turnover rate of 669.54% - Top 3: Haibo Lichuang (688411) with a growth of 1267.83% and a turnover rate of 1982.96% [1]

Core Insights - The A-share market in 2025 has seen significant stock performance, with the top ten stocks achieving remarkable gains, led by Shangwei New Materials with an increase of 1820.28% [1][2] - Shangwei New Materials has issued a risk warning, stating that its intelligent robot business is still in the product development stage and has not yet achieved mass production or sales, which is expected to have no positive impact on its 2025 performance [1] Group 1: Top Performing Stocks - Shangwei New Materials (688585) has a year-to-date increase of 1820.28%, with a market capitalization of 514 billion and a price-to-book ratio of 38.52 [2] - Tianpu Co., Ltd. (605255) has seen a rise of 1645.35%, with a market capitalization of 292 billion and a price-to-book ratio of 36.23 [2] - Haibo Sichuang (688411) has increased by 1208.72%, with a market capitalization of 450 billion and a price-to-book ratio of 10.05 [2] - ST Yushun (*ST宇顺) has a gain of 719.38%, with a market capitalization of 81.75 billion and a price-to-book ratio of 37.36 [2] - Jiangnan New Materials (603124) has risen by 654.12%, with a market capitalization of 115 billion and a price-to-book ratio of 6.40 [2] - ST Yazhen (*ST亚振) has increased by 636.70%, with a market capitalization of 119 billion and a price-to-book ratio of 50.73 [2] - Shenghong Technology (300476) has seen a rise of 586.02%, with a market capitalization of 2503 billion and a price-to-book ratio of 16.50 [2] - Feiwo Technology (301232) has increased by 581.66%, with a market capitalization of 127 billion and a price-to-book ratio of 8.97 [2] - Filinger (603226) has risen by 568.50%, with a market capitalization of 112 billion and a price-to-book ratio of 12.38 [2] - Ding Tai High-Tech (301377) has increased by 567.15%, with a market capitalization of 570 billion and a price-to-book ratio of 22.88 [2]

Market Performance - In 2025, the A-share market achieved significant milestones, with the Shanghai Composite Index closing at 3968.84 points, marking an annual increase of 18.41%, the best performance in nearly six years since 2020 [1][2] - The Shenzhen Component Index and the ChiNext Index saw annual increases of 29.87% and 49.57%, respectively, while the North Star 50 and the Sci-Tech Innovation Index rose by 39.78% and 46.30% [1][2] Trading Volume and Value - The total trading volume of all A-shares reached a record high of 29.92 trillion shares in 2025, while the total trading value surpassed 419.86 trillion yuan, marking the first time it exceeded 400 trillion yuan, representing a 63% increase from 257.01 trillion yuan in 2024 [3][4] Sector Performance - Among the 31 first-level industries, the non-ferrous metals sector led with an annual increase of 94.73%, followed by the communication and electronics sectors with increases of 84.75% and 47.88%, respectively [5][6] - Other sectors such as comprehensive, electric equipment, and machinery also saw annual increases exceeding 40%, while only the coal and food & beverage sectors experienced declines, with food & beverage down by 9.69% [5][6] Top Performing Stocks - The top-performing stock of 2025 was Shangwei New Materials, which surged by 1820.29%, primarily driven by the acquisition of the company by Zhiyuan Robotics [7][14] - Tianpu Co. followed with a 1645.35% increase, while *ST Yushun ranked third with a 719.38% rise due to significant asset restructuring announcements [9][11] - The remaining top stocks, ranked fourth to tenth, all recorded increases exceeding 500% [13][14]