（文章来源：证券日报） 证券日报网讯 2月25日，迦南智能在互动平台回答投资者提问时表示，截至2026年2月13日，公司股东 人数为15912户。 ...

Group 1 - The core point of the article is that Canaan Intelligent (300880) reported a total of 15,902 shareholders as of February 10, 2026 [1]

Group 1 - The overall market attention on Canaan Intelligent (300880) is moderate, with a neutral sentiment prevailing among institutions, showing no clear bullish or bearish inclination [1] - Two institutions forecast the company's net profit for 2025 to be 201 million yuan, representing a year-on-year growth of 4.11%, and for 2026, a net profit of 234 million yuan, indicating a year-on-year growth of 16.42% [1] - The latest price-to-earnings ratio (TTM) is 42.45 times, and the price-to-book ratio is 3.60 times, reflecting a cautiously optimistic outlook on medium to long-term growth from institutions [1] Group 2 - On February 10, 2026, Canaan Intelligent announced that its smart electric meters have passed the State Grid's testing and obtained the necessary certification, supporting multi-time period and multi-rate configurations, as well as minute-level data storage, aligning with the trend of smart electricity management [2] - This development is expected to enhance the company's competitiveness in the power grid equipment sector and may positively influence short-term market sentiment [2] Group 3 - As of February 13, 2026, Canaan Intelligent's stock price is 19.36 yuan, with a daily decline of 0.82%, a cumulative increase of 0.94% over the past five days, but a decrease of 0.87% over the last 20 days [3] - The stock price fluctuated between a high of 20.14 yuan and a low of 18.50 yuan during the period from January 26 to February 12, with a total fluctuation of 8.20% [3] - The current turnover rate is 0.32%, with a transaction amount of 11.93 million yuan, indicating a generally moderate trading activity [3]

Group 1 - The core viewpoint of the article highlights that Canaan Intelligent (300880.SZ) has developed smart meters that support flexible configuration of multiple time periods and rates, meeting the requirements of the national power grid's data management system [2] - The company's products have passed the national grid testing and obtained the necessary qualification certificates, ensuring compliance with industry standards [2] - The smart meters are capable of minute-level data storage, aligning with the current trends in smart energy management, and enabling users to visualize and analyze energy consumption in a detailed manner [2]

Core Viewpoint - Canaan Intelligent (300880.SZ) expects a significant decline in net profit for 2025, with projections indicating a decrease of 59.60% to 53.38% compared to the previous year [1] Financial Performance - The estimated net profit attributable to shareholders for 2025 is between 78 million to 90 million yuan [1] - The net profit after deducting non-recurring gains and losses is projected to be between 68 million to 80 million yuan, reflecting a decline of 63.19% to 56.70% year-on-year [1] Revenue and Margin Impact - The decline in net profit is primarily attributed to a decrease in operating revenue due to the impact of customer order delivery schedules [1] - There has also been a reduction in the sales prices of the company's main products, leading to a decrease in gross margin compared to the same period last year [1]

Group 1 - The company Canaan Intelligent announced an earnings forecast on January 29, expecting a net profit attributable to shareholders of 78 million to 90 million yuan for 2025, representing a year-on-year decline of 53.38% to 59.6% [1] Group 2 - The investigation into the "Jie Wo Rui" redemption crisis on the Shuibei Gold platform revealed a 40-fold leverage bet, indicating that the platform incurs losses as gold prices rise [1] - Investors reported that the proposed redemption plan offers a principal repayment at a 20% discount, which they find unacceptable [1]

Profit Projections - The estimated net profit for 2025 is projected to be between 78 million and 90 million CNY, representing a decline of 53.38% to 59.60% compared to the previous year's profit of 193.07 million CNY[4] - The estimated net profit after deducting non-recurring gains and losses is expected to be between 68 million and 80 million CNY, reflecting a decrease of 56.70% to 63.19% from last year's figure of 184.76 million CNY[4] Revenue and Profit Margin - The decline in net profit is primarily attributed to a decrease in operating revenue due to the delivery schedule of certain customer orders[6] - The sales prices of the company's main products have decreased, leading to a reduction in gross profit margin compared to the same period last year[6] Audit and Forecast - The financial data in the performance forecast has not been audited by the accounting firm, but there are no significant discrepancies between the company and the auditors regarding the performance forecast[5]

Core Insights - The article discusses the development prospects and investment strategies of the smart meter industry in China, highlighting key players and market dynamics. Industry Overview - The smart meter industry in China consists of upstream manufacturers of chips, PCBs, relays, and other components, midstream companies involved in smart meter production, and downstream markets including households, charging stations, and distributed energy [1][3]. Regional Distribution - Guangdong Province has the highest concentration of smart meter companies, with over 500 related enterprises expected by December 2025 [6][8]. Revenue Performance - In the first half of 2025, several companies reported significant revenues from their smart meter businesses, with科陆电子 (Kelu Electronics) generating 12.54 billion yuan and林洋能源 (Linyang Energy) achieving 14.27 billion yuan [11][12]. Investment Trends - Recent investment activities in the smart meter sector include acquisitions and capital increases for project investments. Notable investments include科陆电子 receiving 13.86 billion yuan from美的集团 (Midea Group) and开发科技 (Kefa Technology) raising 2.03 billion yuan in an IPO [14].

Group 1 - The company has a carbon management platform that can provide services from carbon emission accounting to data verification [2] - The company has established a "carbon footprint database" product, but it has not yet applied for CBAM certification [2]

Core Viewpoint - The company has established a zero-carbon factory in Cixi City, marking the first evaluation of such a facility in the region [1] Group 1: Zero-Carbon Factory - The company has achieved recognition as a zero-carbon factory in Cixi City, which is the first of its kind in the area [1] - The company has developed an industrial digital energy platform and a carbon management platform, enabling comprehensive carbon accounting for all products produced over the past year [1] - The company plans to expand carbon accounting to additional products in the future [1] Group 2: Product Certification and Technology - Currently, the company's products have not received CBAM certification [1] - The company's technologies in electric energy metering and data collection serve as critical data sources for carbon accounting [1] - The carbon management platform can directly output carbon accounting data based on evaluation templates, which accelerates the certification process for new products and enhances their competitiveness [1]