Core Viewpoint - The company, Tonglian Precision, has released its annual performance forecast, indicating a projected net loss for 2025, attributed to various operational challenges and increased expenses related to new technology investments [1] Financial Performance - The expected net profit attributable to shareholders for 2025 is projected to be between -3.6 million and -5.4 million [1] - The expected net profit after deducting non-recurring gains and losses is projected to be between -6.5 million and -9.75 million [1] Operational Challenges - The decline in operational efficiency is primarily due to: - New production capacity and investments not yet achieving economies of scale, leading to a decrease in overall gross margin compared to the previous year [1] - Increased management and R&D expenses totaling approximately 34 million, driven by the company's alignment with industry trends in lightweight and performance upgrades for precision structural components [1] - A foreign exchange loss increase of about 17 million compared to the previous year, influenced by fluctuations in the US dollar exchange rate [1] Future Outlook - The company anticipates that as new business demands materialize, revenue will steadily increase, allowing for effective dilution of related expenses [1] - Improvement in overall profitability is expected as the self-manufacturing level of certain product processes continues to rise [1]

Group 1: Precious Metals Market - Spot gold first broke the $5500/oz mark, reaching nearly $5600/oz before dropping below $5200/oz [1] - The non-ferrous metals sector saw significant declines, with major companies like Zijin Mining and Luoyang Molybdenum falling over 8% and 9% respectively [1] - The performance of the non-ferrous metals sector pressured the Shanghai Composite Index and Shenzhen Component Index, while the ChiNext Index rose due to gains in key stocks like CATL and Sungrow [1] Group 2: Agricultural and Consumer Sectors - Some cyclical sectors showed strong performance, with agriculture and aquaculture sectors rising significantly, indicating a typical rotation pattern in commodity markets [1] - The rise in agricultural products is expected to transmit to the aquaculture sector and further into the consumer market [1] - By the close of the morning session, the Shanghai Composite Index fell by 1.19%, the Shenzhen Component Index by 0.96%, while the ChiNext Index increased by 0.8% [1] Group 3: Film and Entertainment Sector - The film and cinema sector saw active performance, with stocks like Hengdian Film and Happiness Blue Sea experiencing significant gains [4][6] - A favorable policy environment, including the State Council's plan to enhance service consumption, is expected to support the film industry [6][7] - The upcoming 2026 Spring Festival film lineup is anticipated to drive market recovery, with multiple new films scheduled for release [7] Group 4: AI and Optical Communication Sector - The North American computing power chain showed strong performance, with stocks like "Yizhongtian" and Tianfu Communication reaching historical highs [7] - The demand for AI computing power is driving upgrades in the optical communication industry, with strong demand for high-speed optical modules [10] - Despite short-term supply gaps in high-speed optical chips, upstream manufacturers are actively expanding production, which is expected to alleviate supply chain bottlenecks [10]

Market Overview - Global markets experienced turbulence on January 30, with major indices such as Nikkei 225, Hong Kong stocks, and US futures all showing declines. Gold and silver prices plummeted, and Bitcoin saw a significant drop, leading to over 270,000 liquidations in the cryptocurrency market, totaling nearly $1.7 billion [1][2]. A-Shares Performance - A-shares showed mixed results, with the Shanghai Composite Index regaining the 4100-point mark, while the ChiNext Index rebounded after hitting a low. However, over 3,800 stocks in the market declined [1]. Sector Performance - CPO and optical communication stocks surged, with companies like Lian Te Technology and Tianfu Communication rising over 11%, and Changfei Optical Fiber hitting the daily limit. Conversely, industrial and precious metals sectors faced significant declines, with over 20 stocks, including Nanshan Aluminum and Tongling Nonferrous Metals, hitting the daily limit down [1]. Precious Metals Market - International precious metals saw a sharp decline, with gold prices dropping by 4% to below $5200 per ounce, marking a daily decrease of over $200. Silver prices fell over 5%, dropping below the $110 mark [1]. Cryptocurrency Market - Major cryptocurrencies continued to decline, with Bitcoin falling over 6% to below $82,300, and Ethereum and SOL dropping over 7%. In the last 24 hours, more than 270,000 traders were liquidated, with a total liquidation amount close to $1.7 billion [2]. Dollar Index - The US dollar index rebounded, rising by 0.44% to 96.58 as of 11:30 AM Beijing time [3]. Geopolitical Factors - Ongoing tensions in the Middle East are impacting global markets. US President Trump announced plans to engage in dialogue with Iran, and the market is closely watching the announcement of the next Federal Reserve Chair, which is expected to be revealed on January 30 [5].

Group 1 - The core viewpoint of the news highlights a significant rebound in computing hardware stocks, with notable increases in share prices for several companies [1] - LianTe Technology experienced a nearly 10% increase in stock price, reaching a historical high [1] - Tianfu Communication and Changfei Optical Fiber both saw stock price increases exceeding 8%, also achieving historical highs [1] Group 2 - Other companies such as Shijia Photon, Hengtong Optic-Electric, Dekoli, and Xinyi Sheng also experienced stock price increases, indicating a broader positive trend in the sector [1]

Group 1 - The A-share market saw a significant rise in CPO concept stocks, with notable increases in several companies' stock prices [1] - Key performers included Juguang Technology, which rose by 10.42%, and Kecuan Technology, which hit the daily limit with a 10% increase [2] - Other companies such as Tianfu Communication and Huilv Ecology also experienced substantial gains, with increases of 8.81% and 6.23% respectively [1][2] Group 2 - The total market capitalization for Juguang Technology is 18.8 billion, while Kecuan Technology has a market cap of 10.6 billion [2] - Year-to-date performance shows Kecuan Technology leading with a 78.86% increase, followed by Juguang Technology at 19.27% [2] - Other companies like Luobotek and Huatians Technology also reported strong year-to-date gains of 51.54% and 28.08% respectively [2]

Group 1 - The core viewpoint of the news is that LianTe Technology has shown significant stock performance and financial growth, with a notable increase in trading volume and financing activities [1][2]. Group 2 - On January 26, LianTe Technology's stock rose by 7.15%, with a trading volume of 3.083 billion yuan. The net financing purchase on that day was 103 million yuan, with a total financing balance of 12.46 billion yuan [1]. - As of January 26, the financing balance accounted for 8.90% of the circulating market value, indicating a high level compared to the past year [1]. - The company has a significant presence in the optical communication module market, with 92.72% of its revenue coming from 10G and above optical modules [1]. Group 3 - As of September 30, the number of shareholders for LianTe Technology increased to 24,900, a rise of 7.14%, while the average circulating shares per person decreased by 6.66% to 2,725 shares [2]. - For the period from January to September 2025, LianTe Technology reported a revenue of 847 million yuan, representing a year-on-year growth of 31.75%, and a net profit attributable to shareholders of 81.8 million yuan, up 31.39% year-on-year [2]. Group 4 - Since its A-share listing, LianTe Technology has distributed a total of 46.85 million yuan in dividends [3]. - Among the top ten circulating shareholders as of September 30, 2025, Hong Kong Central Clearing Limited is the fourth largest, increasing its holdings by 533,300 shares to 2.3947 million shares [3]. - New shareholder Yongying Technology Driving A has entered the top ten list, holding 943,100 shares, while Southern CSI 1000 ETF has reduced its holdings by 8,800 shares [3].

Group 1 - The company is optimistic about the long-term market development prospects of smart glasses [1] - The company is actively maintaining close communication with leading terminal enterprises in this field [1] - The company has secured cooperation intentions from several well-known domestic and international clients, including new innovation demands from existing customers and new clients [1] - The specific rhythm of mass production will be matched according to customer demand [1]

证券日报网1月26日讯，统联精密在接受调研者提问时表示，公司目前主要通过自建工业园、租赁厂房 或者资产并购的方式获得产能扩充所需要的场地，场地准备好之后，公司以客户需求为导向，积极进行 产能准备。公司的产能扩充计划会深度嵌入客户的产品研发与生产周期，一般来说，公司会在新增的业 务需求量产前两到三个月内，将相关产能准备好，确保每一单位的新增产能，都能迅速转化为满足客户 需求的高质量产品，并快速形成规模销售与现金回报，真正实现"产能落地即创效"，驱动公司盈利能力 提升。 ...

Core Viewpoint - The core competitiveness of the manufacturing industry lies in the dual enhancement of production efficiency and product yield [1] Group 1: Company Insights - The company, as a technology-driven enterprise, emphasizes the leading edge of MIM (Metal Injection Molding) technology, which is primarily derived from differentiated process route design [1] - The company focuses on creating the optimal process route during its R&D process, aiming to streamline unnecessary procedures and optimize production workflows [1] - Through repeated cross-experiments, the company achieves a reduction in processing time and an increase in efficiency, which translates into added product value and profit advantages, thereby establishing a solid technical barrier [1]

证券日报网1月26日讯 ，统联精密在接受调研者提问时表示，公司原有MIM和非MIM产品线能否用于新 业务的生产，需结合新业务产品涉及的工艺设计要求进行判断，对于适配公司原有工艺及产能的新业务 产品，现有产线可满足当前的生产需求，无需大规模新增资本开支及新建产能；针对半固态压铸、3D 打印等新拓展工艺对应的业务，则会根据客户订单与市场需求，配套新增相应的产能。 ...