Group 1 - The core business of Suzhou Su Test Experiment Group Co., Ltd. includes environmental reliability testing services (49.19%), testing equipment (31.27%), integrated circuit verification and analysis services (15.63%), and other services (3.91%) [2] - As of September 30, 2025, the company achieved a revenue of 1.532 billion yuan, representing a year-on-year growth of 8.95%, and a net profit attributable to shareholders of 157 million yuan, with a year-on-year increase of 7.14% [2] - The company has distributed a total of 367 million yuan in dividends since its A-share listing, with 211 million yuan distributed in the last three years [3] Group 2 - On January 20, Su Test Experiment's stock price fell by 4.90%, with a trading volume of 764 million yuan [1] - The financing buy-in amount on January 20 was 60.49 million yuan, while the financing repayment was 85.47 million yuan, resulting in a net financing buy of -24.98 million yuan [1] - The total margin balance as of January 20 was 548 million yuan, with the financing balance accounting for 5.54% of the circulating market value, indicating a high level compared to the past year [1]

Core Viewpoint - The company is expected to achieve steady growth in its 2025 performance, with a projected net profit of 245-265 million yuan, reflecting a year-on-year increase of 6.8%-15.51% [1][4]. Group 1: Financial Performance - The company's net profit for Q4 2025 is projected to be between 88.16-108 million yuan, representing a year-on-year growth of 6.2%-30.3% and a quarter-on-quarter increase of 123%-173% [1][2]. - The non-recurring net profit for Q4 2025 is expected to be between 83.51-104 million yuan, with a year-on-year growth of 9.3%-35.5% and a quarter-on-quarter increase of 137%-194% [1][2]. Group 2: Business Strategy and Market Position - The company adheres to a strategy of focusing on its core business, dual-driven development, and the integration of manufacturing and services, which has contributed to its stable growth [2]. - The significant quarter-on-quarter growth in Q4 2025 is attributed to the elimination of adverse factors, recovery in downstream demand, and growth in new business areas such as commercial aerospace [2]. Group 3: Expansion and Innovation - The company is actively expanding into new industries, enhancing its testing capabilities in commercial aerospace, aviation equipment, smart robotics, and new energy sectors [3]. - The company has signed a project cooperation agreement with the Hangzhou Yunqi Town Management Committee, planning to invest no less than 300 million yuan to establish a high-end space environment simulation testing platform [2][3]. - The company has received various laboratory accreditations, enhancing its position in the automotive supply chain and international wireless testing [3]. Group 4: Profit Forecast and Valuation - The company is projected to achieve net profits of 257 million, 331 million, and 399 million yuan for the years 2025-2027, with year-on-year growth rates of 12.08%, 28.85%, and 20.56% respectively [4]. - The corresponding price-to-earnings ratios are expected to be 35, 27, and 23 times for the years 2025, 2026, and 2027 [4].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected price increase of over 15% in the next 6-12 months [4][9]. Core Views - The company is expected to achieve steady growth in its performance, with a projected net profit of RMB 2.45-2.65 billion for 2025, representing a year-on-year increase of 6.8%-15.51% [2][4]. - The significant quarter-on-quarter growth in Q4 2025 is attributed to the recovery of downstream demand and the growth of new business areas such as commercial aerospace [2][3]. Summary by Sections Performance Overview - For the full year of 2025, the company anticipates a net profit of RMB 2.45-2.65 billion, with a year-on-year growth of 6.8%-15.51% [2]. - In Q4 2025, the company expects a net profit of RMB 88.16-108 million, showing a year-on-year increase of 6.2%-30.3% and a quarter-on-quarter increase of 123%-173% [2][4]. Business Strategy and Market Position - The company focuses on its core business and aims for a dual-driven strategy that integrates manufacturing and services [2]. - It is actively expanding into new sectors, including commercial aerospace, and has signed a project cooperation agreement with the Hangzhou Yunqi Town Management Committee, planning to invest at least RMB 300 million [3]. Financial Projections - The projected net profits for 2025-2027 are RMB 2.57 billion, RMB 3.31 billion, and RMB 3.99 billion, with respective year-on-year growth rates of 12.08%, 28.85%, and 20.56% [4]. - The company’s price-to-earnings (P/E) ratios are expected to be 35, 27, and 23 for the years 2025, 2026, and 2027, respectively [4]. Market Trends and Opportunities - The company is positioned to benefit from high-growth sectors such as military, semiconductor, new energy, and commercial aerospace [4]. - Continuous innovation in testing equipment and expanding laboratory qualifications are key strategies to enhance its market presence [3].

（文章来源：证券日报） 证券日报网讯 1月20日，苏试试验发布公告称，公司预计2025年归属于上市公司股东的净利润为24， 500万元至26，500万元，比上年同期增长6.80%至15.51%。 ...

Core Viewpoint - The company Su Shi Testing (300416.SZ) forecasts a net profit attributable to shareholders for 2025 between 245 million to 265 million yuan, representing a year-on-year growth of 6.8% to 15.51% [1] - The net profit after deducting non-recurring gains and losses is expected to be between 233 million to 253 million yuan, indicating a year-on-year increase of 12.22% to 21.86% [1] Group 1: Business Performance - The company anticipates growth in its operating performance for 2025 [1] - In the testing equipment sector, the company is focusing on technological innovation, with key R&D directions including thermal vacuum, low pressure, hydraulic, and integrated products [1] - The company is deepening its engagement in industries such as aerospace, new energy, and electronics, accelerating technological iteration and new product development to meet diverse customer needs [1] Group 2: Service Segments - In the environmental and reliability testing service sector, the company aims to strengthen its capabilities in niche market testing, guided by market and customer demands [1] - The company leverages its one-stop service advantage across the entire industry chain to accurately address professional testing needs in aerospace and new energy sectors [1] - In the integrated circuit verification and analysis service sector, the semiconductor testing field is showing positive development, with the company enhancing capacity layout and resource integration in consumer electronics and automotive electronics [1]

Core Viewpoint - The company, Su Shi Testing, forecasts a net profit attributable to shareholders for 2025 between 245 million and 265 million yuan, representing a year-on-year increase of 6.80% to 15.51% [1] - The company emphasizes its strategic focus on core business, dual-driven development, and the integration of manufacturing and services to enhance product quality and reliability [1] Financial Performance - The expected net profit excluding non-recurring gains and losses for 2025 is projected to be between 233 million and 253 million yuan, reflecting a year-on-year growth of 12.22% to 21.86% [1] - The impact of non-recurring gains and losses on net profit is estimated to be 12 million yuan, compared to 21.79 million yuan in the same period last year [1] Business Strategy - The company is committed to technological innovation in the testing equipment sector, focusing on products such as thermal vacuum, low pressure, hydraulic, and comprehensive testing equipment [1] - The company aims to meet diverse customer needs in industries like aerospace, new energy, and electronics through accelerated technology upgrades and new product development [1] Service Enhancement - In the environmental and reliability testing service sector, the company focuses on enhancing its testing capabilities based on market and customer demands, leveraging its one-stop service advantage [1] - The company is implementing cost reduction and efficiency improvement strategies while enhancing internal control management to boost team productivity [1] Semiconductor Sector - The semiconductor testing sector is experiencing positive growth, with the company enhancing capacity layout and resource integration in consumer electronics and automotive electronics [1] - The company is actively expanding its market presence and aligning new capacity with customer needs, gradually releasing additional production capacity [1]

人民财讯1月20日电，苏试试验（300416）1月20日发布业绩预告，预计2025年归母净利2.45亿元—2.65 亿元，同比增长6.8%—15.51%。报告期内，集成电路验证与分析服务板块，半导体检测领域发展态势 良好，公司围绕消费电子、汽车电子等领域，增强产能布局与资源整合的协同效应，进一步推动产能优 化升级；继续加快市场开拓步伐，精准匹配客户需求，新增产能逐步释放。 ...

证券代码：300416 证券简称：苏试试验 公告编号：2026-003 苏州苏试试验集团股份有限公司 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：自愿性业绩预告 （1）以区间数进行业绩预告的 单位：万元 本次业绩预告未经会计师事务所审计。公司已就本次业绩预告有关事项与 会计师事务所进行了预沟通，双方在本次业绩预告方面不存在重大分歧。 三、业绩变动原因说明 1、报告期内，公司坚定践行"聚焦主业、双轮驱动、制造与服务融合发 展"的战略，在专业领域精耕细作，专注提升工业产品质量可靠性，助推新质 生产力高质量发展。2025 年公司积极把握市场机会，生产经营活动有序开展， 各项工作稳步推进，经营业绩实现了增长。 试验设备板块，公司持续推进试验设备领域技术创新，以热真空、低气压、 液压类、综合类等产品为研发重点方向，深耕航空航天、新能源、电子电器等 行业，加快技术迭代升级与新产品研发，满足客户定制化多样化需求。 环境与可 ...

Group 1 - The core point of the news is that Suzhou Su Test Experiment Group Co., Ltd. experienced a stock price decline of 5.14%, with a current share price of 19.36 yuan, a trading volume of 545 million yuan, and a market capitalization of 9.845 billion yuan [1] - The company, established on December 29, 2007, and listed on January 22, 2015, specializes in environmental and quality reliability testing and analysis services for industrial products [1] - The main revenue composition of the company includes environmental reliability testing services (49.19%), testing equipment (31.27%), integrated circuit verification and analysis services (15.63%), and other services (3.91%) [1] Group 2 - From the perspective of major fund holdings, a fund under Yuanxin Yongfeng has a significant position in Su Test Experiment, with a reduction of 477,500 shares in the third quarter, holding a total of 800,000 shares, which represents 4.15% of the fund's net value [2] - The Yuanxin Yongfeng Youyue Life Fund (004959) was established on January 29, 2018, with a current scale of 338 million yuan, and has achieved a year-to-date return of 6.63% [2] - The fund's performance over the past year shows a return of 44.42%, ranking 2646 out of 8093 in its category [2]

Group 1 - The commercial aerospace sector is experiencing a partial recovery, with notable stock performance from companies such as Jiuding New Materials and Yuexiu Capital reaching the daily limit increase [1] - Guangyun Technology saw a significant rise of over 15%, indicating strong investor interest in the sector [1] - Other companies like Su Shi Testing, Hangyu Micro, Chaojie Co., and Feiwo Technology also experienced upward momentum in their stock prices [1]