Core Viewpoint - The company Jingjia Micro (300474.SZ) forecasts a net loss attributable to shareholders of between 120 million to 180 million yuan for the fiscal year 2025, primarily due to high R&D investments and slow receivables collection [1] Group 1: Financial Performance - The expected net loss for the year is between 120 million to 180 million yuan [1] - The company has faced increased credit impairment losses due to a rise in accounts receivable and changes in the aging structure [1] Group 2: R&D and Product Development - The company is focusing on building a product matrix centered around "GPU + edge-side AISoC chips" to strengthen its domestic computing capabilities [1] - High R&D expenditures are maintained due to the long project cycles and significant upfront investments, which are impacting short-term profitability [1] Group 3: Subsidiary Impact - The addition of the newly controlled subsidiary Wuxi Chengheng Microelectronics has been included in the consolidated financial statements, contributing to the net loss [1] - The business of Chengheng Micro is still in the development phase, leading to substantial R&D investments that affect the net profit attributable to shareholders [1]

Core Viewpoint - The company, Jingjia Micro (300474.SZ), expects a significant increase in revenue for 2025, projecting between 650 million to 850 million yuan, while also anticipating a net loss in the range of 180 million to 120 million yuan [1][2]. Group 1: Financial Projections - For 2025, the company forecasts revenue of 650 million to 850 million yuan, representing a year-on-year growth of approximately 39.38% to 82.27% [1]. - The anticipated net loss for 2025 is projected to be between 180 million to 120 million yuan, with a non-recurring net loss expected to be between 206 million to 146 million yuan [1]. Group 2: Reasons for Net Loss - The primary reasons for the net loss include high R&D investments aimed at developing a product matrix centered around "GPU + edge-side AISoC chips," which has led to sustained high R&D expenses and pressure on short-term profitability [2]. - Slow collection of receivables has impacted cash flow, with an increase in accounts receivable and changes in aging structure resulting in significant credit impairment losses compared to the previous year [2]. - The addition of a new subsidiary, Wuxi Chengheng Microelectronics, has also contributed to the net loss, as its business is still in the development phase and requires substantial R&D investment [2].

Core Viewpoint - Jingjia Micro (300474) expects a net loss of 120 million to 180 million yuan for 2025, compared to a loss of 165 million yuan in the same period last year [1] Group 1: Financial Performance - The company is focusing on building a product matrix centered around "GPU + edge-side AISoC chips" to strengthen its domestic computing power foundation [1] - R&D expenses remain high due to long project cycles and significant upfront investments, leading to short-term profitability pressure [1] - The addition of a new subsidiary, Wuxi Chengheng Microelectronics Co., Ltd. (referred to as "Chengheng Micro"), is included in the consolidated financial statements, impacting net profit attributable to shareholders [1] Group 2: R&D and Strategic Focus - The company is increasing R&D investment to create a closed-loop computing power system covering "cloud-edge-end" [1] - Chengheng Micro is still in the development phase with substantial R&D investments, which negatively affect the net profit attributable to shareholders [1] - Excluding the impact of Chengheng Micro, the net profit attributable to shareholders is expected to show a reduction in losses [1]

Core Viewpoint - Jingjia Micro (300474.SZ) forecasts a net loss of 120 million to 180 million yuan for the fiscal year 2025, despite a significant revenue growth due to increased sales in the graphics and display control sector [1] Financial Performance - The company expects a year-on-year revenue increase of approximately 39.38% to 82.27% [1] - The anticipated loss is attributed to high R&D expenses related to GPU and AI chip development, increased credit impairment losses on accounts receivable, and the financial burden from a newly acquired subsidiary, Chengheng Micro, which is still in the investment phase [1]

Core Viewpoint - The company expects a net profit for the year 2025 to be between -180 million and -120 million yuan, indicating a projected loss [1] - The anticipated operating revenue for 2025 is estimated to be between 650 million and 850 million yuan, representing a year-on-year growth of approximately 39.38% to 82.27% [1] Financial Projections - The company projects a net profit loss for 2025 ranging from -180 million to -120 million yuan [1] - Expected operating revenue for 2025 is between 650 million and 850 million yuan, with a significant year-on-year growth forecast [1] Business Performance - The company is executing according to customer delivery plans, with some projects successfully completed and accepted [1] - Revenue growth in the graphics and control field has been substantial, contributing to the overall increase in operating revenue [1]

证券代码：300474 证券简称：景嘉微 公告编号：2026-002 长沙景嘉微电子股份有限公司 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：预计净利润为负值 单位：万元 | 项 目 | 本报告期 | 上年同期 | | --- | --- | --- | | 营业收入 | 65,000.00～85,000.00 | 46,634.24 | | 归属于上市公司股东的净利润 | -18,000.00～-12,000.00 | -16,511.95 | | 扣除非经常性损益后的净利润 | -20,600.00～-14,600.00 | -20,444.76 | 二、与会计师事务所沟通情况 三、业绩变动原因说明 1、2025 年，公司营业收入预计为 65,000 万元至 85,000 万元，同比增长约 39.38%至 82.27%。公司按客户的交付计划履约执行，推进的部分项目产品已 顺利完成验收，其中图形显控领域产品 ...

Group 1 - Hangxiao Steel Structure announced that it does not have a "commercial aerospace" business, with its main operations focused on steel structure contracting and related services, and a recent project contributing less than 1% to its 2024 audited revenue [1] - Tianlong Group stated that it has not generated additional revenue from AI tools, which are currently used internally for advertising content creation, and that the overall business operations remain unaffected [1] - Wanxing Technology confirmed that there are no undisclosed significant matters affecting its operations, and its business environment remains stable [2] Group 2 - Yaxing Chemical announced the termination of a share issuance and cash purchase of assets due to market changes and disagreements on asset valuation [2] - Zhejiang Shuculture clarified that its subsidiaries do not engage in GEO business, which has been misreported by media [2] - Luxshare Precision terminated the acquisition of assets from Wintime Technology due to delivery restrictions, with a request for the return of 1.53 billion RMB [3] Group 3 - Jinyu Group reported that its subsidiaries' revenues from specific projects are minimal compared to its overall revenue, with a small contribution from recent contracts [4] - Tongyu Communication highlighted that its stock price has significantly outpaced its fundamentals, indicating potential risks of a price correction [4] - Dongfang Mingzhu noted that the listing process for its investment in Chaoguhuan has uncertainties but currently does not impact its performance [5] Group 4 - Luyin Investment warned of risks associated with its stock price surge, which has increased by 86.92% over the last ten trading days [5] - Puyuan Information stated that its AI software platform is in the early commercialization stage, with limited revenue impact expected [6] - Zhejiang Wenhu Intermediary reported that its GEO business has not yet generated revenue, reflecting uncertainties in market acceptance [6] Group 5 - Xinhua News confirmed that its GEO business lacks a mature profit model and has not generated income [7] - People's Daily stated that it does not engage in GEO business and has not been affected by market rumors [7] - China First Heavy Industries reported minimal involvement in controllable nuclear fusion projects, with no significant revenue generated [8] Group 6 - Xibu Mining announced an increase in copper resources at the Yulong Copper Mine, adding 131.42 million tons of copper metal resources [8] - Jiurui New Materials commenced trial production of a new photoinitiator project, expected to cater to mainstream markets [9] - Tongda Sea indicated that AI-related revenue is low and does not significantly impact overall business performance [10] Group 7 - Zhenai Meijia's stock price has deviated significantly from market indices, prompting caution for investors [11] - Guizhou Moutai approved a new marketing strategy to enhance its sales channels and adapt to consumer demands [12] - Shunhao Co. plans to increase its stake in a subsidiary, reflecting confidence in future business prospects [14] Group 8 - A number of companies, including TCL Technology and Dazhu CNC, forecast significant profit increases for 2025, driven by operational improvements and market demand [19][22] - Long Cable Technology expects a profit increase due to changes in its employee stock plan and market conditions [22] - Jiangsu Electric Power reported a profit increase attributed to higher sales and reduced financial costs [29]

Core Viewpoint - The strategic cooperation between Jingjia Micro and Jiang'an Technology aims to create a comprehensive "AI + National Defense" capability system, leveraging Jingjia Micro's strengths in high-performance GPUs and AI SoC chips, alongside Jiang'an Technology's expertise in system-level software and algorithms [1][2]. Group 1: Strategic Cooperation - Jingjia Micro signed a strategic cooperation letter with Jiang'an Technology to develop a full-stack AI and national defense capability system [1]. - The collaboration signifies Jingjia Micro's transition from a "chip supplier" to a "system-level solution provider" [1]. - Jiang'an Technology specializes in core products such as intelligent sentinel defense systems, indicating strong complementary strengths between the two companies [1]. Group 2: Technological Advancements - Jingjia Micro's subsidiary, Wuxi Chengheng Microelectronics, has successfully developed the CH37 series AI SoC chip, meeting all core performance indicators [1]. - The CH37 chip supports independent processing of visible light and infrared, optimized for robotics, drones, and edge computing scenarios [2]. - The company has established a dual-driven model with high-performance general-purpose GPUs and edge AI SoC chips, enhancing its market position [2]. Group 3: Market Position and Future Outlook - Jingjia Micro is transitioning from a "technology reserve period" to a "commercialization period," indicating a shift towards realizing its technological investments [2]. - The company has made significant investments, including a 220 million yuan increase in Chengheng Micro to secure technological leadership [2]. - Strategic partnerships with companies like Jiang'an Technology are expected to build long-term competitive barriers in the domestic GPU and AI chip markets [2].

Core Viewpoint - The company, Jingjia Micro, has signed a strategic cooperation letter with Hangzhou Jing'an Technology to enhance their capabilities in AI and defense sectors through comprehensive collaboration in technology and products [2] Group 1: Strategic Partnership - The partnership is based on mutual benefits and complementary advantages, leveraging Jingjia Micro's expertise in GPU and AISoC chips alongside Jing'an Technology's strengths in system-level software and algorithms [2] - The collaboration aims to create a full-stack "AI + National Defense" capability system, integrating chips, equipment, large models, and intelligent agents [2] Group 2: Market Focus - The initiative targets key national areas such as national defense security and low-altitude economy, aiming to generate greater commercial opportunities and market value for both companies [2] - The agreement does not require approval from the company's board or shareholders, indicating a streamlined decision-making process for strategic initiatives [2]

Group 1 - Shoukai Co. achieved a signed area of 125.72 million square meters and a signed amount of 17.845 billion yuan in 2025 [1] - Tongda Hai expects a net loss for the year 2025 [2] - Jiuri New Materials' subsidiary has entered the trial production phase for a project with an annual capacity of 350 tons of hydroxy ketone [3] Group 2 - Jixin Technology's shareholder plans to reduce their stake by up to 1% [4] - Fulai New Materials received approval from the CSRC for a stock issuance [5] - Yaqi International plans to sign a strategic cooperation framework agreement with Zhongnong Holdings [6] Group 3 - Sanwei Co.'s controlling shareholder plans to transfer up to 5.10% of shares [7] - Lekai Film's subsidiary plans to invest 97.6675 million yuan in a TAC functional film production line [8] - China Power Construction's subsidiary signed two major contracts totaling approximately 15.589 billion yuan [9] Group 4 - Shunhao Co. plans to increase its investment in a subsidiary by 74.98 million yuan [10] - Jieneng Wind Power reported a cumulative power generation of 12.417 billion kWh in 2025, a year-on-year increase of 1.43% [11] - Zhongjian Technology's H-share issuance application has been accepted by the CSRC [12] Group 5 - Hendi Pharmaceutical expects a net profit decrease of 57.4% to 66.14% in 2025 [13] - Haopeng Technology anticipates a net profit increase of 113.69% to 141.09% in 2025 [14] - Lingang Co. expects a net loss of 1.45 billion to 1.67 billion yuan in 2025 [15] Group 6 - Chuan Investment Energy reported a cumulative power generation of 6.627 billion kWh in 2025, a year-on-year increase of 13.85% [16] - Tengyuan Cobalt expects a net profit increase of 50.02% to 69.87% in 2025 [17] - Huazhi Jie plans to repurchase shares worth 30 million to 50 million yuan [18] Group 7 - Opto has won a bid for a 120 million yuan project from GoerTek [19] - Shanghai Construction reported a new contract amount of 252.942 billion yuan in 2025, a year-on-year decrease of 34.98% [20] - Hangfa Control expects a net profit decrease of 52.02% to 58.02% in 2025 [22] Group 8 - Shimao Energy is planning a change in control and will continue to suspend trading [23] - Shenwan Hongyuan Securities received approval for a bond issuance of up to 60 billion yuan [24] - Jingjiawei signed a strategic cooperation letter of intent with Jing'an Technology [25] Group 9 - Pianzaihuang completed the first subject enrollment for a clinical trial of a new drug [26] - Placo's subsidiary received a new veterinary drug registration certificate [27] - Zhongli Co. plans to reduce its stake by up to 0.75% [28] Group 10 - Solar Energy received renewable energy subsidies of 3.318 billion yuan in 2025, a year-on-year increase of 142.9% [29] - Palm Co. has filed a lawsuit to recover 144 million yuan in project payments [30][31] - Yongjin Co. plans to invest 2.658 billion yuan in a new stainless steel project [32] Group 11 - BAIC Blue Valley plans to increase its stake by 14.5 million to 16.4 million yuan [33] - Lingyun Light's stock issuance application has been approved by the CSRC [34] - Hongbo New Materials expects a net loss in 2025 [35] Group 12 - Shanghai Pharmaceuticals received approval for the listing of a new antifungal drug [36] - Changjiang Electric reported a net profit of 34.167 billion yuan in 2025, a year-on-year increase of 5.14% [37] - Weilan Bio received a new veterinary drug registration certificate [38] Group 13 - Pingzhi Information's subsidiary is expected to win a procurement project worth approximately 37.5884 million yuan [39]