Investment Rating - The report maintains an "Outperform" rating for the media industry [4][36]. Core Insights - The media industry has shown a 3.44% increase, outperforming both the CSI 300 (-0.57%) and the ChiNext Index (1.00%) during the week of January 12-16 [11][12]. - Key companies that performed well include Yidian Tianxia, Liou Co., People's Daily, and Vision China, while companies like ST Fanli and Liansheng Technology saw declines [11][12]. - Bilibili launched a one-stop AI marketing tool, "Bilibili Bid," aimed at enhancing advertising efficiency [15][16]. - Google released a significant upgrade to its AI video generation model, Veo 3.1, enhancing its practical applications [15][16]. - OpenAI introduced the GPT-5.2 Codex programming model, which significantly improves performance and reliability for long-term tasks [15][16]. - The Qianwen App launched over 400 new features, marking a significant advancement in AI capabilities [15][17]. Summary by Sections Industry Performance - The media sector's performance ranked third among all sectors, with a notable increase of 3.44% [11][12][13]. Key Company Updates - The report highlights the strong performance of companies like Yidian Tianxia, which saw a 54% increase, and Liou Co., which increased by 39% [12]. - The report also provides earnings forecasts for key companies, indicating a positive outlook for firms like Kayi Network and Jibite [4]. Market Data - The total box office for the week was 259 million yuan, with the top three films being "Nishan" (58 million yuan), "Zootopia 2" (53 million yuan), and "Avatar 3" (45 million yuan) [2][19]. - In the gaming sector, the top three mobile games in December 2025 were "Whiteout Survival," "Gossip Harbor: Merge & Story," and "Kingshot" [26][27]. Investment Recommendations - The report emphasizes the potential of AI applications in the media sector, particularly in marketing and content creation, suggesting investment opportunities in companies like Zhejiang Wenlian and Huimai Technology [36]. - It also notes the expected growth in the gaming sector driven by new product cycles and AI integration, recommending companies such as Giant Network and JiBit [36].

Core Viewpoint - Liansheng Technology (300051) has fully applied dual-sided microcrystalline technology, 0BB, and silver-coated copper technology in its products, with its 0BB heterojunction battery and module project recognized as "internationally advanced" [1] Group 1 - The company has received a technology achievement evaluation from the Sichuan Provincial Department of Science and Technology for its 0BB heterojunction battery and module project [1]

Company Overview - Liansheng Technology Co., Ltd. is located in Xiamen, Fujian Province, and was established on April 1, 2004. The company went public on February 11, 2010. Its main business includes providing enterprise email, e-commerce website construction, network domain names, and office automation systems, while gradually expanding into mobile cloud office services and cloud intelligent terminal products [1][2]. Financial Performance - For the period from January to September 2025, Liansheng Technology reported operating revenue of 295 million yuan, a year-on-year decrease of 5.30%. The net profit attributable to the parent company was -90.12 million yuan, reflecting a year-on-year decline of 36.09% [2]. - The company has cumulatively distributed dividends of 97.91 million yuan since its A-share listing, with no dividends distributed in the past three years [3]. Stock Performance - As of January 16, Liansheng Technology's stock price was 8.07 yuan per share, with a market capitalization of 3 billion yuan. The stock has increased by 25.12% year-to-date, but has decreased by 7.03% over the past five trading days [1]. - The stock's trading volume on January 16 was 52.21 million yuan, with a turnover rate of 1.73%. The net outflow of main funds was 172,700 yuan, with significant buying and selling activity observed [1]. Shareholder Information - As of September 30, 2025, the number of shareholders of Liansheng Technology was 25,300, an increase of 9.88% from the previous period. The average number of circulating shares per person was 14,489, a decrease of 8.59% [2]. - Among the top ten circulating shareholders, Huaxia Industry Prosperity Mixed A (003567) held 7.36 million shares, a decrease of 291,000 shares compared to the previous period [3].

琏升科技 20260114 摘要 联盛科技战略调整：从电池片生产扩展至组件生产及能源科技板块，包 括光伏电站开发、投建、运营及智能微电网开发，旨在补齐短板，增强 现金流和绿色能源开发能力。实控人变更为王新总，其在新能源、稀土 等领域有深耕和布局，预计将为公司带来新的发展机遇。 技术突破：公司在低银含量技术方面取得进展，如 0DB5 组 3 低银含量， 以及薄片化 N 型益智节交互达到 80μm 水平。同时，推进钙钛矿叠层技 术，高效组件达到 745 瓦（210 片），提升产品竞争力。这些技术进步 有助于公司在市场中获得竞争优势。 太空光伏领域布局：联盛光伏专注于 P 型异质结技术，并将其作为太空 卫星光伏的重点技术路线。已成立专班进行相关研发，并在超薄硅片上 积累了相应技术。P 型异质结在太空环境中具有更高的稳定性和轻量化 优势。 P 型异质结与 N 型异质结差异：P 型异质结主要应用于低轨卫星等对稳 定性要求极高的场景，需要改进窗口材料以承受更高 UV 辐射。现有产 线设备基本可以支持 P 型异质结生产，只需调整部分工艺，无需大量资 本开支。 Q&A 联盛科技近期在商业航天领域的布局和进展情况如何？ 联盛科 ...

（编辑 姚尧） 证券日报网讯 1月12日，琏升科技在互动平台回答投资者提问时表示，公司联合研发的G12大尺寸晶硅 异质结钙钛矿叠层电池，在光电转换效率上实现突破，达到32.99%。异质结钙钛矿叠层电池通过叠层 设计能够突破单结电池效率极限，具备更高转换效率，同时拥有温度系数低、双面率高且具备潜在低成 本等优势，是引领下一代光伏技术突破的关键方向，公司在组织技术研发更多场景下的产品应用，进一 步巩固公司在HJT领域的技术领先性和产品竞争力。 ...

Core Viewpoint - Liansheng Technology (300051.SZ) has been recognized for its product quality and technological innovation, being listed as one of the 25 new industrial tracks in Sichuan Province for 2024, indicating its role in new productive forces [1] Group 1: Company Achievements - The company has established a 2.8GW high-efficiency heterojunction (HJT) production line in Meishan and has received accolades such as the title of National High-tech Enterprise and Sichuan Innovative Small and Medium-sized Enterprise [1] - Liansheng Technology has been recognized as a green factory and an engineering technology research center in Meishan, showcasing its commitment to sustainability and innovation [1] Group 2: Technological Advancements - The company focuses on cost reduction and efficiency improvement through technological research and process upgrades, achieving significant enhancements in power, conversion efficiency, reliability, and system cost optimization [1] - The development of low silver content technology allows the company to effectively manage cost pressures from silver price fluctuations, further solidifying its competitive edge in the HJT sector [1] Group 3: Future Plans - Liansheng Technology is advancing the research and production of P-type heterojunctions to address reliability, stability, and thin-film issues in special applications such as space photovoltaics [1] - The company is actively expanding its domestic and international markets, with ongoing construction of heterojunction module production lines to provide comprehensive solutions and services to customers [1]

Core Viewpoint - The company, Liansheng Technology, has been recognized for its product quality and technological innovation, being listed as one of the 25 new industrial tracks in Sichuan Province for 2024, indicating its role in new productive forces [1] Group 1: Company Achievements - The company has established a 2.8GW high-efficiency heterojunction (HJT) production line in Meishan and has received accolades such as being a national high-tech enterprise and a provincial-level innovative small and medium-sized enterprise [1] - The company has been recognized as a green factory and an engineering technology research center in Meishan [1] Group 2: Technological Advancements - The company focuses on cost reduction and efficiency improvement through technological research and process upgrades, achieving significant enhancements in power, conversion efficiency, reliability, and system cost optimization [1] - The development of low silver content technology helps mitigate cost pressures from silver price fluctuations, allowing the company to create more value for customers [1] - The company is advancing the research and production of P-type heterojunction technology to address reliability, stability, and thin-film issues in special applications for space photovoltaics [1] Group 3: Market Expansion - The company is actively expanding its domestic and international markets, with the construction of heterojunction module production lines to provide comprehensive solutions and services to customers [1]

Core Viewpoint - Liansheng Technology (300051) has established partnerships with several universities for technology development and personnel training [1] Group 1 - The company is collaborating with Tsinghua University, Sichuan University, Southwest Jiaotong University, Southwest Petroleum University, and Chengdu University of Technology [1]

Core Viewpoint - The company, Liansheng Technology, has confirmed that its heterojunction (HJT) solar cells can be applied in various fields, including aerospace, although it currently does not engage in commercial aerospace business [1]. Group 1: Product Application - The HJT solar cell products have a wide range of application scenarios, including aerospace, urban and industrial rooftops, car roofs, outdoor camping tents, and rural areas [1]. - For aerospace applications, solar cells must meet five core requirements: high efficiency, strong radiation resistance, lightweight, high stability, and low cost [1]. Group 2: Product Characteristics - P-type HJT solar cells are more suitable for aerospace applications compared to N-type HJT cells due to lower substrate material costs, mature thin-film processing technology, and better radiation resistance characteristics [1]. - The company is actively exploring product applications in the aerospace sector for the future [1].

证券代码：300051 证券简称：琏升科技 公告编号：2025-130 关于 2024 年限制性股票激励计划部分限制性股票 回购注销完成的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、琏升科技股份有限公司（以下简称"公司"）本次回购注销事项涉及 11 人， 回购注销的限制性股票数量合计 119,000 股，占回购注销前公司总股本的 0.03%，回 购价格为 4.33 元/股加上银行同期存款利息之和，回购金额为 515,270.00 元加上银行 同期存款利息之和（合计 517,698.85 元），资金来源为公司自有资金。 2、截至本公告披露日，公司已在中国证券登记结算有限责任公司深圳分公司办 理完成本次部分限制性股票回购注销事宜。本次回购注销完成后，公司总股本由 372,136,690 股减少至 372,017,690 股。 一、已履行的相关审议程序和信息披露情况 （一）2024 年 6 月 12 日，公司召开的第六届董事会第二十七次会议审议通过了 《关于<琏升科技股份有限公司 2024 年限制性股票激励计划（草案）>及其摘要的议 案》《 ...