Core Viewpoint - The company, TaoTao Automotive, forecasts a significant increase in net profit for the year 2025, with both net profit attributable to shareholders and net profit after deducting non-recurring gains and losses expected to grow by over 85% year-on-year [2][3]. Financial Performance Summary - The projected net profit attributable to shareholders for 2025 is estimated to be between 800 million yuan and 850 million yuan, representing a year-on-year increase of 85.5% to 97.1% from 431.26 million yuan in the previous year [3]. - The net profit after deducting non-recurring gains and losses is expected to be between 789 million yuan and 839 million yuan, reflecting a year-on-year growth of 87.54% to 99.42% from 420.71 million yuan in the previous year [3]. Reasons for Growth - The company attributes its substantial profit growth to a precise focus on market demand, enhanced operational efficiency, accelerated overseas capacity construction, increased brand influence, and the active development of diversified sales channels [4]. - Additionally, the impact of non-recurring gains and losses on the net profit attributable to shareholders is estimated to be approximately 11 million yuan for the year 2025 [4].

Core Viewpoint - All 11 companies listed on the ChiNext board have announced positive earnings forecasts for 2025, indicating a strong growth outlook for these firms [1] Group 1: Company Earnings Forecasts - Company Guangku Technology (300620) expects a net profit increase of 162% with a closing price of 151.68 yuan and a year-to-date change of +3.15% [1] - Company Dingtai (301377) anticipates a net profit increase of 91.74% with a closing price of 142.91 yuan and a year-to-date change of +2.74% [1] - Company Taotao Automotive (301345) forecasts a net profit increase of 91.30% with a closing price of 257.60 yuan and a year-to-date change of +2.50% [1] - Company Haiziwang (301078) projects a net profit increase of 66.89% with a closing price of 10.72 yuan and a year-to-date change of +3.38% [1] - Company Ugreen Technology (301606) expects a net profit increase of 49.91% with a closing price of 60.71 yuan and a year-to-date change of +3.35% [1] - Company Group (300428) anticipates a net profit increase of 20.21% with a closing price of 23.53 yuan and a year-to-date change of +0.77% [1] - Company Tiansu (301449) forecasts a net profit increase of 10.31% with a closing price of 82.50 yuan and a year-to-date change of -2.29% [1] - Company C New Guangyi (301687) expects a net profit increase of 10.00% with a closing price of 69.18 yuan and a year-to-date change of -3.00% [1] - Company Nabai Chuan (301667) anticipates a net profit increase of 9.72% with a closing price of 73.58 yuan and a year-to-date change of -8.31% [1] - Company Xinhenghui (301678) projects a net profit increase of 4.66% with a closing price of 68.01 yuan and a year-to-date change of +5.90% [1] - Company Digital (301638) expects a net profit increase of 2.76% with a closing price of 19.63 yuan and a year-to-date change of +4.36% [1]

Group 1 - Maduro denies all charges from the U.S. and claims he is still the President of Venezuela [2] - The U.S. has accused Maduro of drug terrorism conspiracy, cocaine smuggling conspiracy, and possession of firearms [2] - Maduro states he was forcibly taken from his home in Caracas [2] Group 2 - China condemns the U.S. for violating Venezuela's sovereignty and international principles [3] - The U.S. is accused of undermining multilateralism and threatening peace in Latin America and the Caribbean [3] Group 3 - Venezuela's oil exports have nearly dropped to zero due to U.S. sanctions and blockade [4] - The Venezuelan oil company is reducing production and closing some oil fields due to accumulated inventory [4] - Shortages of diluents for blending heavy crude oil are further restricting production activities [4] Group 4 - Trump claims the U.S. must have complete access to Venezuela's resources and asserts U.S. control over the country [5][6] - The U.S. Vice President's residence was attacked, with one suspect arrested [6] Group 5 - High expectations for Chinese stocks with projected annual growth of 15% to 20% in 2026 and 2027 [8] - Corporate earnings in China are expected to grow by 14% and 12% in 2026 and 2027, respectively [8] - Factors driving growth include AI applications, international expansion, and policies to reduce internal competition [8]

Focus 1: Yingfang Micro - The company is planning a major asset restructuring by acquiring controlling stakes in Shanghai Xiaokeli Information Technology Co., Ltd., FIRST TECHNOLOGY CHINA LIMITED, and Shiqing Intelligent Technology (Shanghai) Co., Ltd. through a combination of share issuance and cash payment [1] - The transaction is expected to constitute a significant asset restructuring but will not involve related transactions or restructuring listings. The company's stock will be suspended from trading starting January 6, 2026 [1] Focus 2: Nanxing Co. and Yinglian Co. - Nanxing Co. expects to achieve a net profit of 90 million to 120 million yuan for 2025, recovering from a loss of 175 million yuan in the previous year. The significant profit increase is attributed to reduced goodwill impairment in 2024 [2] - Yinglian Co. anticipates a net profit of 32 million to 42 million yuan for 2025, compared to a loss of approximately 39.67 million yuan in the previous year, driven by growth in the fast-moving consumer goods metal packaging sector [2] Focus 3: Victory Energy - The company has completed its stock trading suspension review and will resume trading on January 6, 2026. No undisclosed significant information affecting stock prices was found during the review [3] Performance Highlights - Whirlpool expects a net profit of approximately 505 million yuan for 2025, a 150% increase from the previous year, due to ongoing transformation and efficiency improvements [4] - Taotao Automotive forecasts a net profit of 800 million to 850 million yuan for 2025, representing an 85.5% to 97.1% increase year-on-year, driven by enhanced operational efficiency and market demand [4] - China National Materials Technology anticipates a net profit of 1.55 billion to 1.95 billion yuan for 2025, a growth of 73.79% to 118.64% compared to the previous year, supported by improved product pricing and sales [4] Investment and Restructuring - Weigao Blood Products plans to issue shares to acquire 100% of Weigao Group Medical Polymer Co., Ltd. for 8.511 billion yuan, significantly enhancing the company's asset scale and profitability [6] - Haopeng Technology is set to raise up to 800 million yuan through a private placement to fund energy storage battery projects [6] Control Changes - Hengshi Technology's control has changed following agreements with New Base Information Technology Group, with the new controlling entity holding 9.55% of the total shares [7] Major Projects - Fulian Precision plans to invest 6 billion yuan in a project to produce 500,000 tons of high-end lithium iron phosphate for energy storage [10] - Penghui Energy's board approved plans to issue H-shares and list on the Hong Kong Stock Exchange [11] Other Announcements - The company intends to repurchase A-shares for employee stock ownership plans, with a total budget of 50 million to 100 million yuan [12] - The company reported a 14.75% year-on-year decline in pig sales, with a revenue drop of 36.06% due to market fluctuations [12]

Group 1 - Fulin Precision's subsidiary plans to invest 6 billion yuan to build a high-end lithium iron phosphate project with an annual production capacity of 500,000 tons [11] - Feiwo Technology has completed the acquisition of 60% of Xinsai Aerospace, focusing on metal 3D printing services for commercial aerospace [2] - Zhongcai Technology expects a net profit increase of 73.79% to 118.64% in 2025 [30] Group 2 - Hengrui Medicine has received approval for clinical trials of HRS9531 injection in combination with HRS-5817 injection for treating obesity [2] - Deyun Co. announced that its actual controller has been arrested for illegal public deposit collection, but the company's operations remain normal [3] - Hengshi Technology's control is set to change as it enters a strategic cooperation agreement with New Base Information Technology Group [4] Group 3 - Zhejiang Mining plans to acquire 100% of Alaigyr Company, which holds core assets in lead-silver mines [5][6] - Guizhou Tire intends to invest in a project in Morocco to produce 6 million semi-steel radial tires annually, with a total investment of 299 million USD [7] - Dongfang Zircon plans to invest in a project to produce 10,000 tons of high-purity composite zircon oxide for new energy batteries [8] Group 4 - Xingsheng Group has received a project designation notice from a North American electric vehicle manufacturer, with a total sales amount of approximately 7.8 billion yuan [18] - Jin Di Co. plans to acquire a 3.36% stake in Baoshilai New Materials Technology for 21.6 million yuan [10] - Huayi Technology has signed a strategic cooperation agreement with Fujian Fuyou University to enhance research and development in alloy materials [6] Group 5 - Juxing Technology expects a net profit increase of 5% to 20% in 2025 [23] - Huayou Cobalt anticipates a net profit increase of 40.8% to 55.24% in 2025 [24] - Chifeng Gold expects a net profit increase of approximately 70% to 81% in 2025 [25]

Group 1 - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for 13 companies, including Taotao Automotive, which is required to clarify matters related to capital changes and provide legal opinions from lawyers [1] - Taotao Automotive has submitted its listing application to the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor [1] - The CSRC requests Taotao Automotive to provide details on its restricted stock incentive plan and the legality of its capital changes, as well as the operational status of its business segments, including battery manufacturing and cross-border e-commerce [1][2] Group 2 - Taotao Automotive is recognized as a leading provider of outdoor leisure and electric mobility solutions, ranking second in the global electric low-speed vehicle industry with an approximate market share of 8.4% in 2024 [4] - The company's business is divided into two main segments: electric mobility products, which include electric low-speed vehicles and electric two-wheelers, and outdoor specialty vehicles, such as all-terrain vehicles and off-road motorcycles [4] - Taotao Automotive is actively expanding into advanced fields like humanoid robotics, aiming to create new long-term growth opportunities [4]

近日，中国证监会发布《境外发行上市备案补充材料要求(2025年12月29日—2026年1月4日)》。中国证 监会国际司共对13家企业出具补充材料要求，其中，要求涛涛车业（301345）补充说明关于股本变动等 事项。据港交所10月31日披露，涛涛车业(301345.SZ)向港交所主板提交上市申请书，中信证券为独家 保荐人。 六、请就你公司开展跨境电商业务的业务模式、收入占比及合规情况出具专项说明。 招股书显示，涛涛车业是一家致力于提供户外休闲及电动出行解决方案的企业。根据弗若斯特沙利文的 资料，按收入计，该公司于2024年在全球电动低速车行业中排名第二，全球市场份额约为8.4%。该公 司通过行业领先的多元化产品组合，提供兼具娱乐性与实用性的创新解决方案。 公司的业务涵盖两大分部：(1)电动出行产品，包括满足社区及场内短途出行增长的电动低速车，及电 动两轮车，包括电动自行车、电动滑板车及电动平衡车；及(2)户外特种车，亦称为动力运动，包括全 地形车与越野摩托车。该等产品广泛应用于社区短途通勤、休闲运动、智能出行及特种作业场景。基于 深厚的技术积淀，该公司正积极拓展人形机器人等前沿领域，旨在开辟新的长期增长途径。 ...

Group 1 - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for 13 companies, including Taotao Automotive, which is required to clarify matters related to capital changes and provide legal opinions from lawyers [1] - Taotao Automotive has submitted its listing application to the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor [1] - The CSRC requests Taotao Automotive to provide details on its restricted stock incentive plan and the legality of its capital changes, as well as the operational status of its business segments, including battery manufacturing and cross-border e-commerce [1][2] Group 2 - Taotao Automotive is recognized as a leading provider of outdoor leisure and electric mobility solutions, ranking second in the global electric low-speed vehicle industry with an 8.4% market share in 2024 [4] - The company's business is divided into two main segments: electric mobility products, which include electric low-speed vehicles and electric two-wheelers, and outdoor specialty vehicles, such as all-terrain vehicles and off-road motorcycles [4] - Taotao Automotive is actively expanding into advanced fields like humanoid robotics, aiming to create new long-term growth opportunities [4]

Group 1 - Ugreen Technology expects a net profit of 653 million to 733 million yuan for 2025, representing a year-on-year growth of 41.26% to 58.56% [1] - SenTai Co. plans to invest no more than 140 million yuan to establish a production base in Vietnam [2] - Muyuan Foods reported a December 2025 sales revenue of 9.667 billion yuan from commodity pigs, a year-on-year decline of 36.06% [3] Group 2 - Pumen Technology has received a medical device registration certificate for a quality control product used in various cancer markers [4] - Heng Rui Medicine's subsidiary has received approval for clinical trials of two injection drugs targeting obesity [5] - Quartz Co. was fined 2.7 million yuan for commercial secret infringement by its subsidiary [6] Group 3 - Chifeng Gold expects a net profit of 3 billion to 3.2 billion yuan for 2025, an increase of approximately 70% to 81% year-on-year [7] - Fulong Technology has terminated the transfer of 82.0969 million shares [8] - Senba Sensor's actual controller has released the pledge of 16.48 million shares [9] Group 4 - Hanma Technology reported a cumulative truck sales increase of 58.45% for 2025 [12] - Guankang Clean won a bid for a special procurement project worth 157 million yuan [14] - Defu Technology signed a cooperation agreement for high-end copper foil supply with a leading CCL company [15] Group 5 - Tianchen Medical signed a strategic cooperation agreement with Inspur Digital Technology [16] - CanSino received approval for clinical trials of a 24-valent pneumococcal polysaccharide conjugate vaccine [17] - Yipin Hong's subsidiary received approval for a supplementary application for oseltamivir phosphate capsules [19] Group 6 - Taotao Vehicle expects a net profit of 800 million to 850 million yuan for 2025, a year-on-year increase of 85.50% to 97.10% [20] - Yutong Bus reported a cumulative sales increase of 5.54% for 2025 [21] - Kingoo Co. received a notification from VinFast to supply automotive wheel products [22] Group 7 - ST Renfu's subsidiary received approval for clinical trials of a new drug for late-stage solid tumors [23] - Nanxing Co. expects a net profit of 90 million to 120 million yuan for 2025, reversing a loss from the previous year [24] - Jinrui Mining's subsidiaries will undergo routine maintenance starting January 5, 2026 [25] Group 8 - Changjiang Power reported a 3.82% increase in total power generation for its six hydropower stations in 2025 [26] - David Medical's subsidiary received a medical device registration certificate for an electronic endoscope image processor [28] - Guiguan Power reported a 26.68% increase in cumulative power generation for 2025 [29] Group 9 - ShenNan Electric's subsidiary won a project worth 208 million USD for a power plant operation service [30] - ST Kaiyuan's major shareholder's shares will be auctioned [31] - Jiecheng Co.'s major shareholder's shares have been auctioned [32] Group 10 - Tongbao Energy's wind power project has begun generating electricity [33] - Xusheng Group received an order worth 7.8 billion yuan from a North American EV manufacturer [34] - Qianli Technology reported a 154.08% increase in December 2025 electric vehicle production [35] Group 11 - Chint Electric plans to issue H-shares and list on the Hong Kong Stock Exchange [36][37] - Whirlpool expects a net profit increase of approximately 150% for 2025 [38] - Yongjie New Materials signed a 2 billion yuan aluminum alloy procurement contract [39]

Market Overview - The motorcycle and other sectors increased by 0.24% compared to the previous trading day, with Greenway Technology leading the gains [1] - The Shanghai Composite Index closed at 4023.42, up 1.38%, while the Shenzhen Component Index closed at 13828.63, up 2.24% [1] Stock Performance - Greenway Technology (301322) closed at 28.53, with a rise of 3.82% and a trading volume of 25,100 shares, amounting to 72.06 million yuan [1] - Taotao Industry (301345) closed at 257.60, up 2.50%, with a trading volume of 18,000 shares, totaling 462 million yuan [1] - Ninebot Company (6000689) closed at 56.33, increasing by 1.33%, with a trading volume of 78,200 shares, amounting to 436 million yuan [1] - Aima Technology (603529) closed at 30.07, up 1.25%, with a trading volume of 48,000 shares, totaling 14.4 million yuan [1] - Spring Power (603129) closed at 281.80, increasing by 1.12%, with a trading volume of 13,100 shares, amounting to 36.8 million yuan [1] Fund Flow Analysis - The motorcycle and other sectors experienced a net outflow of 70.28 million yuan from main funds, while retail investors saw a net inflow of 58.51 million yuan [2] - The main funds showed a net outflow in several stocks, including Longxin General (603766) with a net outflow of 28.18 million yuan [3] - Spring Power (603129) had a net inflow of 8.48 million yuan from retail investors, despite a net outflow from main and speculative funds [3]