Core Viewpoint - The low-altitude economy sector is showing mixed results for 2025, with 22 companies expected to be profitable while another 22 are projected to incur losses, indicating a significant divergence in performance within the industry [3]. Performance Forecast Summary Profit Growth - 11 companies are expected to report profit increases, with notable projections including: - Xinzhi Group (002664.SZ) and Shangluo Electronics (300975.SZ) anticipating several-fold increases in net profit [4]. - Weihai Guangtai (002111.SZ), Tongyu Heavy Industry (300185.SZ), and Guangyang Co. (002708.SZ) expecting over 50% growth in net profit [4]. - Wan Feng Aowei (002085.SZ) and Zongshen Power (001696.SZ) also forecasted net profit growth [4]. Losses - 22 companies are projected to incur losses, with several notable cases: - Zhongtian Rocket (003009.SZ) and Andavil (300719.SZ) have shifted from profit to loss [7]. - Haige Communication (002465.SZ) is investing heavily in R&D, leading to increased costs and a projected loss [7]. - Companies like Aerospace Power (600343.SH) and Sihua Electronics (600990.SH) are also expected to continue reporting losses [8]. Industry Insights - The low-altitude economy's contribution to overall profits remains limited, with most revenue still coming from aircraft manufacturing and infrastructure construction [3]. - Companies like Wan Feng Aowei are leveraging their low-altitude business to drive profit growth, supported by strong orders in general aviation aircraft manufacturing and strategic acquisitions [5]. - The industry is witnessing a shift towards commercial applications of low-altitude technologies, with companies preparing for a significant commercialization phase in 2026 [9][10]. Strategic Developments - Companies are increasingly focusing on integrating low-altitude infrastructure and management platforms, as seen with Suzhou Keda's strategic investments in civil aviation infrastructure [11]. - The emphasis on R&D and market expansion in emerging fields like low-altitude economy is evident, with companies aiming to enhance their competitive edge through innovative solutions [7][11].

Core Viewpoint - The company *ST Xin Yan expects to achieve an operating revenue of 580 million to 650 million yuan in 2025, compared to 665 million yuan in the same period last year, indicating a decline in revenue. Additionally, it anticipates a net profit attributable to shareholders of 40 million to 51 million yuan, a significant recovery from a loss of 319 million yuan in the previous year [1]. Financial Performance - The projected operating revenue for 2025 is between 580 million and 650 million yuan, down from 665 million yuan in the previous year [1]. - The expected net profit for 2025 is between 40 million and 51 million yuan, a turnaround from a loss of 319 million yuan in the prior year [1].

Core Viewpoint - *ST Xin Yan (300159) expects a net profit of 40 million to 51 million yuan for 2025, a significant recovery from a loss of 319 million yuan in the previous year, indicating a positive turnaround in financial performance [4] Financial Performance - The company anticipates a net profit attributable to shareholders of 40 million to 51 million yuan for 2025, compared to a loss of 319 million yuan in the same period last year [4] - The expected non-recurring net profit loss is projected to be between 288 million to 368 million yuan, slightly better than the previous year's loss of 323 million yuan [4] - As of January 29, the company's price-to-earnings ratio (TTM) is approximately 203.23 to 259.12 times, with a price-to-book ratio (LF) of about -20.5 times and a price-to-sales ratio (TTM) of approximately 16.92 times [4] Business Operations - The main business of the company includes the production and sale of agricultural machinery and aerospace engine structural components [15] - The performance fluctuation is attributed to the completion of the company's restructuring plan, which has positively impacted the financial situation through non-recurring gains [15] - The company is currently in a bankruptcy restructuring phase, facing challenges such as tight funding and cyclical market impacts, leading to a slight decline in revenue [15] - Fixed asset depreciation and operational costs have not been diluted, resulting in operational losses [15] - The company has conducted preliminary impairment tests on various assets, leading to the recognition of impairment provisions that will affect the current period's performance [15]

Core Viewpoint - *ST Xinyan has released its annual performance forecast, expecting a net profit attributable to shareholders of 40 million to 51 million yuan for the year 2025, while the net profit after deducting non-recurring gains and losses is projected to be between -368 million and -288 million yuan [1] Group 1 - The company has turned a profit during the reporting period, primarily due to the completion of its restructuring plan, which has positively impacted its financial status through recognized restructuring gains classified as non-recurring [1] - Despite the profit turnaround, the company experienced a slight decline in revenue due to tight funding and cyclical market influences, leading to operating losses as fixed costs such as depreciation and operational expenses could not be diluted [1] - At the end of the reporting period, the company conducted preliminary impairment tests on various assets based on a principle of prudence, resulting in the recognition of impairment provisions that affected the current period's performance [1]

Core Viewpoint - The company *ST Xin Yan expects to achieve a positive net profit in 2025, indicating a turnaround from previous losses [1] Financial Performance - The projected operating revenue for 2025 is estimated to be between 580 million and 650 million yuan, compared to 665 million yuan in the same period last year [1] - The net profit attributable to shareholders is expected to be between 40 million and 51 million yuan, a significant improvement from a loss of 319 million yuan in the previous year [1] - The net profit after deducting non-recurring gains and losses is projected to be between -368 million and -288 million yuan, compared to -323 million yuan in the same period last year [1]

证券代码：300159 证券简称：*ST 新研 公告编号：2026-006 新疆机械研究院股份有限公司 2025 年度业绩预告 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。 一、本期业绩预计情况 1.业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日。 2.业绩预告情况：股票交易已被实施财务类退市风险警示后的首个会计年度、预计 净利润为正值且属于扭亏为盈情形 单位：万元 | 项 | 目 | | 本会计年度 | 上年同期 | | | --- | --- | --- | --- | --- | --- | | 利润总额 | | 4,300 | - | 5,500 | -32,028.79 | | 归属于上市公司股 东的净利润 | | 4,000 | - | 5,100 | -31,856.79 | | 扣除非经常性损益 后的净利润 | | -36,800 | - | -28,800 | -32,271.79 | | 营业收入 | | 58,000 | - | 65,000 | 66,491.75 | | 扣除后营业收入 | | 56, ...

| 具体情形 | 是否适用（对可能触及的打勾） | | --- | --- | | 经审计的利润总额、净利润、扣除非经 | | | 常性损益后的净利润三者孰低为负值， | | | 且扣除后的营业收入低于 1 亿元。 | | | 经审计的期末净资产为负值。 | √ | | 财务会计报告被出具保留意见、无法表 | | | 示意见或者否定意见的审计报告。 | | 截至本公告披露日，公司可能触及的财务类终止上市情形如下表所示： | 追溯重述后利润总额、净利润、扣除非 | | --- | | 经常性损益后的净利润三者孰低为负 | | 值，且扣除后的营业收入低于 1 亿元； | | 或者追溯重述后期末净资产为负值。 | | 财务报告内部控制被出具无法表示意 | | 见或者否定意见的审计报告。 | | 未按照规定披露内部控制审计报告，因 | | 实施完成破产重整、重组上市或者重大 | | 资产重组按照有关规定无法披露的除 | | 外。 | | 未在法定期限内披露过半数董事保证 | | 真实、准确、完整的年度报告。 | 一、公司股票可能被终止上市的原因 证券代码：300159 证券简称：*ST新研 公告编号：2026-007 ...

Group 1 - Liou Co., Ltd. announced that its stock price fluctuations have been investigated, confirming normal operations and no undisclosed significant information [1] - Tongfu Microelectronics expects a net profit of 1.1 billion to 1.35 billion yuan for 2025, representing a year-on-year growth of 62.34% to 99.24% [17][18] Group 2 - Zhongtung High-tech reported an increase of 91,700 tons in tungsten metal resources, which will not directly impact its current operations or financial situation [2] - Aibo Medical plans to acquire at least 51% of Demai Medical to gain control, aiming to cultivate new profit growth points in the sports medicine sector [2] Group 3 - Zhaojin Gold confirmed normal operations and no undisclosed significant matters after its stock price experienced abnormal fluctuations [3] - Riying Electronics stated that it has no revenue from humanoid robot-related businesses and emphasized the need for rational investment decisions [4] Group 4 - Yifan Transmission intends to purchase 87.07% of Beijing Helishi Electric Technology Co., Ltd., which is expected to constitute a major asset restructuring [5] - China Merchants Industry plans to build four 3000TEU traditional fuel container ships with a total investment of no more than 1.324 billion yuan [6] Group 5 - Jiangtian Chemical plans to invest 49.8 million yuan in a project to produce 60,000 tons of acrylic acid annually [7] - *ST Xinyan has received approval to lift its delisting risk warning after completing its restructuring plan [7] Group 6 - Kangxin New Materials intends to acquire 51% of Wuxi Yubang Semiconductor for 392 million yuan, marking its expansion into the semiconductor field [8] - Guoshun Quantum signed a technology implementation license contract with the University of Science and Technology of China [8] Group 7 - Zhenyu Technology reported a significant increase in orders from the robotics sector for Q4 2025, although these orders represent a small portion of its overall revenue [9] - Yongxing Materials announced that its lithium extraction project has reached full production capacity [9] Group 8 - Nanjing Julong plans to invest 110 million yuan in a production line for modified plastics with an annual capacity of 60,000 tons [9] - Guodian Nanzi signed a strategic cooperation agreement with Huawei to establish an AI technology innovation center [10][11] Group 9 - He Sheng New Materials plans to sell idle factory assets for no less than 80 million yuan [13] - He Sheng New Materials expects a net profit increase of 55% to 75% for 2025, driven by improved supply chain management [14] Group 10 - Kangda New Materials forecasts a net profit of 125 million to 135 million yuan for 2025, marking a turnaround from a loss in the previous year [15] - Yanjing Beer anticipates a net profit increase of 50% to 65% for 2025, supported by its large product strategy [16] Group 11 - Jinfang Energy expects a net profit of 109 million to 143 million yuan for 2025, reflecting a year-on-year growth of 123.97% to 193.7% [19] - Yandong Microelectronics predicts a net loss of 340 million to 425 million yuan for 2025 due to market changes and increased R&D costs [20] Group 12 - Taishan Petroleum forecasts a net profit increase of 30.88% to 66.11% for 2025, benefiting from reduced expenses [21] - Huayuan Holdings expects a net profit increase of 50.98% to 66.82% for 2025, driven by lower raw material prices [22] Group 13 - Huajin Co. anticipates a net loss of 1.6 billion to 1.9 billion yuan for 2025, although the loss is expected to be less than the previous year [23] - Zhongyuan Neipei expects a net profit increase of 80.47% to 109.9% for 2025, supported by steady growth in core business [24] Group 14 - Dongfang Tower expects a net profit of 1.08 billion to 1.27 billion yuan for 2025, reflecting a year-on-year growth of 91.4% to 125.07% [34] - Dali Long anticipates a net profit increase of 51.88% to 86.27% for 2025, driven by market expansion and operational efficiency [35] Group 15 - Hikvision reported a net profit increase of 18.46% for 2025, with total revenue reaching 925.18 billion yuan [44] - Zhongfu Industrial expects a net profit increase of 120.27% to 141.59% for 2025, primarily due to lower costs in the electrolytic aluminum business [45]

Group 1 - The company *ST Xin Yan (300159.SZ) has received approval from the Shenzhen Stock Exchange to revoke the delisting risk warning implemented due to its restructuring [1] - The delisting risk warning will be lifted effective January 20, 2026, but the company will still be subject to a delisting risk warning due to the provisions of Article 10.3.1 (2) of the Stock Listing Rules [1] - The company's stock will continue to be referred to as "*ST Xin Yan" with the stock code "300159," and the trading limit for stock price fluctuations remains at 20% [1]

Core Viewpoint - The company *ST Xin Yan has completed its restructuring plan, eliminating the delisting risk warning previously imposed by the court [1] Group 1: Restructuring and Delisting Risk - The restructuring plan of *ST Xin Yan was executed successfully as of January 20 [1] - The delisting risk warning due to the court's acceptance of the restructuring has been lifted, with the Shenzhen Stock Exchange approving the removal of the warning effective January 19, 2026 [1] - Despite the removal of the restructuring-related delisting risk warning, the company will continue to face delisting risk warnings under Article 10.3.1(b) of the Stock Listing Rules, and its stock will still be referred to as "*ST Xin Yan" [1]