Core Viewpoint - The Low-E glass concept sector experienced a decline of 0.89%, ranking among the top losers in the market, with significant drops in stocks such as Yamaton and Jinjing Technology [1][2]. Group 1: Market Performance - As of July 18, the Low-E glass concept sector saw a notable decrease, with Yamaton hitting the daily limit down, while other companies like Jinjing Technology and Yaopi Glass also faced substantial declines [1]. - In contrast, four stocks within the sector recorded gains, with Hainan Development leading at an increase of 3.12% [1]. Group 2: Capital Flow - The Low-E glass concept sector experienced a net outflow of 72 million yuan, with eight stocks seeing capital outflows, primarily Yamaton, which had a net outflow of 55.16 million yuan [2]. - Other companies with significant capital outflows included Jinjing Technology and Yaopi Glass, with net outflows of 36.39 million yuan and 12.98 million yuan, respectively [2]. - Conversely, Hainan Development, Beibo Shares, and Hebang Biological were among the stocks with the highest net inflows, attracting 49.97 million yuan, 5.45 million yuan, and 1.49 million yuan, respectively [2].

Group 1 - The A-share photovoltaic sector is experiencing a continuous adjustment, with significant declines in stock prices [1] - Yamaton has dropped over 9%, indicating a notable downturn in its market performance [1] - Other companies such as Yijing Optoelectronics, Guosheng Technology, Haiyou New Materials, Hongyuan Green Energy, and *ST Mubang have also seen declines [1]

Market Performance - The POE film concept declined by 2.39%, ranking among the top declines in the concept sector as of the market close on July 15 [1] - Within the POE film sector, stocks such as Tuojri New Energy and Yamaton hit the daily limit down, while companies like Saiwu Technology, Changyang Technology, and Tianyang New Materials experienced significant declines [1] Capital Flow - The POE film concept saw a net outflow of 309 million yuan from main funds today, with 20 stocks experiencing net outflows, and 7 stocks seeing outflows exceeding 10 million yuan [2] - The stock with the highest net outflow was Yamaton, with a net outflow of 65.6 million yuan, followed by Satellite Chemical and Changyang Technology with net outflows of 62.7 million yuan and 58.8 million yuan, respectively [2] - Conversely, stocks with the highest net inflow included Yueyang Xingchang, Chengzhi Co., and Tuojri New Energy, with net inflows of 10.5 million yuan, 8.9 million yuan, and 7.5 million yuan, respectively [2] Individual Stock Performance - Yamaton saw a decline of 9.99% with a turnover rate of 17.93% and a main fund outflow of 65.6 million yuan [3] - Satellite Chemical decreased by 1.55% with a main fund outflow of 62.7 million yuan [3] - Changyang Technology fell by 4.64% with a main fund outflow of 58.8 million yuan [3] - Other notable declines included Saiwu Technology at -7.04% and Tianyang New Materials at -3.26% [3]

Core Viewpoint - The Low-E glass concept sector experienced a significant decline of 3.55%, with major companies like Yamaton, Sanxia New Material, Jinjing Technology, and Yaopi Glass facing substantial losses [1][2]. Group 1: Market Performance - As of July 15, the Low-E glass concept ranked among the top decliners in the market, with Yamaton hitting the daily limit down [1]. - The sector saw a net outflow of 230 million yuan from main funds, indicating a lack of investor confidence [2]. Group 2: Individual Stock Performance - Yamaton led the outflow with a net withdrawal of 65.6 million yuan, reflecting a drop of 9.99% in its stock price [2]. - Other notable stocks with significant net outflows include Jinjing Technology (34.9 million yuan, down 4.18%) and Yaopi Glass (27.1 million yuan, down 4.03%) [2].

低辐射玻璃概念走低，亚玛顿（002623）触及跌停，三峡新材（600293）、耀皮玻璃（600819）、安彩 高科（600207）、海南发展（002163）跟跌。 "聪明钱"流向曝光！暗盘资金破解主力操盘密码>> ...

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Core Viewpoint - The "anti-involution" policy is gaining traction, leading to a rebound in related concept stocks, particularly in the steel, coal, and photovoltaic sectors, with significant price increases observed in leading companies [1][5]. Group 1: Market Performance - As of July 14, the Wind Photovoltaic Index has increased by 14.44% since its rebound began on June 20, with leading stocks such as Yamaton (002623), Guosheng Technology (603778), and Jingyuntong (601908) rising by 96.7%, 81.79%, and 54.67% respectively [1][5]. - Research institutions have shown heightened interest in "anti-involution" concept stocks, with over 283 related research reports published by brokers and futures firms since July [2]. Group 2: Policy Developments - The Central Economic Commission emphasized the need to deepen the construction of a unified national market, focusing on addressing low-price disorderly competition and promoting product quality improvement [3]. - The State Administration for Market Regulation held a meeting to strengthen fair competition reviews and enhance anti-monopoly enforcement, involving companies from various sectors including wind power, automotive, and internet platforms [3]. Group 3: Industry Insights - Key industries benefiting from the "anti-involution" policy include steel, cement, photovoltaic, and lithium battery sectors, with expectations of improved profitability and market performance [9][12]. - The "anti-involution" policy aims to guide companies away from cost competition, emphasizing the importance of R&D and product quality enhancement [10]. Group 4: Future Outlook - Analysts suggest that the current "anti-involution" trend may unfold in three phases: initial policy catalysis, subsequent resource price increases, and stabilization of high prices [7]. - The anticipated policy measures are expected to be rolled out by various ministries before September, focusing on supply-side reforms and addressing overcapacity in several industries [6].

Group 1 - The company expects a net loss attributable to shareholders in the range of 15 million to 20 million yuan for the current reporting period, a significant decline of 210.69% to 247.59% compared to a profit of 13.55 million yuan in the same period last year [1] - The basic earnings per share are projected to be a loss of 0.08 to 0.10 yuan per share, compared to a profit of 0.07 yuan per share in the previous year [1] - The decline in performance is attributed to a rapid decrease in product prices and inventory impairment, following a short-term surge in demand and a quick rebound in the sales price of photovoltaic glass [1] Group 2 - The company plans to continue practicing industry self-discipline and rational capacity planning to maintain stable and orderly operations amid challenges in the photovoltaic industry [2] - The company aims to accelerate its overseas industrial layout to enhance global competitiveness [2]

Changzhou Almaden Co., Ltd. 2025 Semi-Annual Performance Forecast [Performance Forecast Overview](index=1&type=section&id=I.%20Current%20Period%20Performance%20Forecast) The company forecasts a H1 2025 shift to loss, with net profit attributable to shareholders projected at 15-20 million yuan loss Key Performance Indicators | Item | Current Reporting Period | Prior Year Same Period | | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders of Listed Company** | Loss: 15 - 20 million yuan | Profit: 13.551 million yuan | | Year-on-Year Change | Decrease: 210.69% - 247.59% | - | | **Net Profit After Deducting Non-Recurring Gains and Losses** | Loss: 29 - 34 million yuan | Profit: 1.862 million yuan | | Year-on-Year Change | Decrease: 1,657.47% - 1,925.99% | - | | **Basic Earnings Per Share** | Loss: 0.08 - 0.1 yuan/share | Profit: 0.07 yuan/share | [Communication with Accounting Firm](index=1&type=section&id=II.%20Communication%20with%20Accounting%20Firm) This performance forecast's financial data are preliminary company calculations, unaudited by an accounting firm - The data in this performance forecast have not been audited by an accounting firm[4](index=4&type=chunk) [Reasons for Performance Change and Response Strategies](index=1&type=section&id=III.%20Explanation%20of%20Reasons%20for%20Performance%20Change) Loss stems from cooling PV demand, price drops, and inventory impairment; company plans capacity rationalization and overseas expansion - The primary reason for the shift from profit to loss is market volatility: a rush for distributed market installations from January to April 2025 due to policy adjustments drove a rebound in photovoltaic glass prices; however, demand cooled down in May-June, leading to a rapid decline in industry chain prices, compounded by inventory impairment, resulting in the company's performance loss[5](index=5&type=chunk) - Facing industry challenges, the company plans two key measures: 1) practicing industry self-discipline, rationally planning capacity, and maintaining stable operations; 2) accelerating overseas industrial layout to enhance global competitiveness[5](index=5&type=chunk) [Risk Warning](index=1&type=section&id=IV.%20Risk%20Warning) The company warns investors that this performance forecast is preliminary and unaudited, with final data subject to the 2025 semi-annual report - The company explicitly states that this performance forecast is a preliminary calculation by the finance department, unaudited by certified public accountants, and the final data will be based on the officially disclosed semi-annual report, reminding investors to make cautious decisions[6](index=6&type=chunk)

Group 1 - The company, Yamaton (002623), expects a net loss of 15 million to 20 million yuan in the first half of 2025, representing a year-on-year decline of 210.69% to 247.59% [1] - The non-recurring net profit is projected to be a loss of 29 million to 34 million yuan, with a year-on-year decrease of 1,657.47% to 1,925.99% [1] - The basic earnings per share are estimated to be a loss of 0.08 to 0.1 yuan per share [1] Group 2 - The significant changes in the company's performance are primarily attributed to policy adjustments in the photovoltaic industry, which have led to concentrated demand release and a decline in product prices [1]