Core Viewpoint - The A-share major indices experienced a pullback after an initial rise, with all three indices turning negative, indicating a shift in market sentiment [1] Group 1: Market Performance - The ChiNext index rose nearly 1.3% in the morning session before declining [1] - Nearly 1,900 stocks in the Shanghai, Shenzhen, and Beijing markets saw declines [1] Group 2: Sector Performance - The sectors that faced the largest declines included non-ferrous metals, semiconductor chips, and power grids [1]

Core Viewpoint - The performance expectations in the optical module CPO sector are driving the rise of the AI sector in the ChiNext market, with significant gains in stocks like Tianfu Communication and AI application companies like Deepin Technology [1] Group 1: Market Performance - The ChiNext AI sector rose over 1%, with Tianfu Communication up 6%, Zhongji Xuchuang up over 2%, and Xinyi Sheng up over 1% [1] - The ChiNext AI ETF (159363) saw a 2% increase, with real-time transactions exceeding 150 million yuan and over 1 billion yuan added in the past five days [1] Group 2: Company Performance - Tianfu Communication announced a profit forecast for 2025, expecting net profit attributable to shareholders to be between 1.881 billion yuan and 2.150 billion yuan, representing a year-on-year growth of 40% to 60% [1] - The growth is attributed to the accelerated development of the AI industry and the ongoing global data center construction, which has driven stable demand for high-speed optical device products [1] Group 3: Industry Insights - Tianfeng Securities expresses optimism about investment opportunities in the core players of the computing power supply chain, driven by AI-related demand [2] - The communication industry has seen a low increase in stock prices despite strong earnings forecasts, indicating potential for capital inflow during the earnings disclosure period [2] - The ChiNext AI ETF is positioned to benefit directly from the commercialization of AI technology, with approximately 60% of its portfolio in computing power and 40% in AI applications [2]

Core Viewpoint - Tianfu Communication, a leading company in optical modules, has shown impressive performance driven by multiple favorable factors including rising storage chip prices and the strengthening of the AI computing power industry chain, contributing to the upward trend in the ChiNext and Sci-Tech 50 indices [1] Market Performance - On January 22, A-shares opened higher with all three major indices rising, particularly the ChiNext which increased by over 1%. The semiconductor and AI computing power sectors continued to strengthen, while gold stocks experienced significant adjustments [1] - The Hang Seng Index and the Hang Seng Tech Index opened higher but later declined, with most tech stocks falling [1] - As of the report, the Hang Seng Index rose by 0.29% and the Hang Seng Tech Index by 0.12% [2] Bond Market - The bond market saw a decline in government bond futures, with the 30-year main contract down by 0.05%, the 10-year contract down by 0.04%, and shorter-term contracts also experiencing slight declines [2][3] Commodity Market - Domestic commodity futures mostly rose, with lithium carbonate increasing by over 3%, and other commodities like asphalt, polysilicon, and fuel oil rising by 2%. However, precious metals like platinum and palladium saw declines of over 2% [3][5] Company Performance - Tianfu Communication, as a leader in optical devices, maintained growth with a profit forecast for 2025 expected to be between 1.881 billion to 2.15 billion yuan, representing a year-on-year increase of 40% to 60% [7] - Cambridge Technology, a rising star in optical modules, anticipates a profit of 252 million to 278 million yuan for 2025, with a year-on-year growth rate of 51.19% to 66.79% [8] Sector Trends - The AI computing power industry chain is showing strength, with companies like Longxin Zhongke rising by 8% and Tianfu Communication by over 4% [6] - The military industry sector experienced a surge, with companies like Triangle Defense hitting the daily limit up and others like Beimo High-Tech and Aerospace Technology rising over 6% [9][10]

Core Viewpoint - The financing balance of the ChiNext market has decreased, with a total of 592.14 billion yuan, marking a reduction of 6.78 million yuan from the previous day, continuing a downward trend for four consecutive trading days [1]. Financing Balance Overview - The total margin balance for ChiNext stocks is 593.86 billion yuan, down by 6.59 million yuan from the previous trading day, also reflecting a decrease for four consecutive days [1]. - The financing balance specifically stands at 592.14 billion yuan, which is a decrease of 6.78 million yuan compared to the previous day [1]. - The margin trading balance for short selling has increased to 1.72 billion yuan, up by 19.49 million yuan [1]. Stocks with Increased Financing Balance - A total of 426 ChiNext stocks saw an increase in financing balance, with 24 stocks experiencing growth exceeding 10% [1]. - The stock with the highest increase is Jiangtian Chemical, with a financing balance of 98.58 million yuan, reflecting a 44.75% increase from the previous day [3]. - Other notable stocks with significant increases include Yifan Transmission (41.78%) and Qingmu Technology (23.93%) [3]. Market Performance of Stocks with Increased Financing - Among the stocks with a financing balance increase of over 10%, the average increase in stock price was 3.10%, with 17 stocks rising, including Yifan Transmission which hit the daily limit [2]. - The top gainers in terms of stock price include International Composite Materials (9.58%), Kaige Precision Machinery (9.14%), and Beilong Precision (7.91%) [2]. Stocks with Decreased Financing Balance - A total of 525 stocks experienced a decrease in financing balance, with 16 stocks showing a decline of over 10% [4]. - The stock with the largest decrease is Kema Technology, with a financing balance of 731.30 million yuan, down by 19.46% [4]. - Other significant declines were observed in Hongbo Pharmaceutical (18.49%) and Dingtai High-Tech (15.60%) [4]. Market Performance of Stocks with Decreased Financing - The stocks with the largest decreases in financing balance include Kema Technology, which saw a price drop of 0.94%, and Hongbo Pharmaceutical, which fell by 1.88% [4][5]. - The overall trend indicates a mixed performance among stocks with decreased financing, with some stocks still managing to show positive price movements despite the reduction in financing [5].

Group 1 - The core viewpoint of the news highlights the positive performance of the AI sector, particularly driven by the optical module CPO segment, with notable stock increases such as Tianfu Communication rising by 6% and Deepin Technology leading with a 7% gain [1][5] - The AI application sector is showing active performance, with multiple stocks, including Chinese Online and BlueFocus, experiencing gains of over 2% [1][5] - The entrepreneurial board AI ETF (159363) has seen a 2% increase in trading, with real-time transactions exceeding 150 million CNY and over 1 billion CNY added in the past five days [1][5] Group 2 - Tianfu Communication has released a profit forecast for 2025, estimating net profits attributable to shareholders between 1.881 billion CNY and 2.150 billion CNY, representing a year-on-year growth of 40% to 60% [1][5] - The growth is attributed to the accelerated development of the AI industry and the ongoing construction of global data centers, which have driven stable demand for high-speed optical device products [1][5] - The company’s continuous cost reduction and efficiency improvement in smart manufacturing have also contributed to revenue growth across its active and passive product lines [1][5] Group 3 - Tianfeng Securities expresses a strong outlook on investment opportunities within the core segments of the computing power supply chain, driven by AI, indicating potential for significant business growth [2][6] - The report emphasizes the high prosperity of the overseas computing power supply chain, with ongoing financial reports reflecting strong AI-related demand [2][6] - Industrial chain fundamentals are resonating strongly, particularly in the optical module sector, which is expected to attract more attention during the earnings disclosure period [2][6] Group 4 - The entrepreneurial board AI ETF is structured with approximately 60% of its portfolio focused on computing power (primarily optical modules) and about 40% on AI applications, representing both core computing power and true AI application sectors [7]

124家创业板公司2025年度业绩预告亮相，业绩预增公司有62家，占比50.00%。 证券时报·数据宝统计显示，截至1月22日，124家创业板公司公布了2025年业绩预告。按业绩预告类型 进行统计，预增公司有62家，预盈14家，合计报喜公司比例为61.29%；业绩预降、预亏、减亏公司分 别有14家、23家、8家。 创业板业绩预计暴增股名单 | 代码 | 简称 | 业绩预告日 | 预计净利润增幅中值 | 最新收盘价 | 今年以来涨跌 | 行业 | | --- | --- | --- | --- | --- | --- | --- | | | | 期 | （%） | （元） | （%） | | | 300871 | 回盛生 | 2026.01.09 | 1355.24 | 29.54 | 42.50 | 农林牧 | | | 物 | | | | | 渔 | | 300435 | 中泰股 | 2026.01.06 | 677.22 | 30.65 | 37.94 | 公用事 | | | 份 | | | | | 业 | | 300048 | 合康新 | 2026.01.22 | 507.03 | 7.22 | 21.3 ...

Market Overview - On January 22, A-shares opened higher across the board, with the Shanghai Composite Index rising by 9.13 points (0.22%) to 4126.07 points, the Shenzhen Component Index up by 58.51 points (0.41%) to 14313.63 points, and the CSI 300 Index increasing by 18.69 points (0.4%) to 4741.75 points [1] - The storage chip concept continued to show strength, with Yingfang Micro achieving a three-day limit-up, and Langke Technology opening over 11% higher [1] - Gold concept stocks mostly retreated, with Xiaocheng Technology down over 7% and Shengda Resources down over 6% [1] Company News - Tianfu Communication expects a net profit attributable to shareholders of 1.881 billion to 2.150 billion yuan, a year-on-year increase of 40% to 60%, driven by the growth in demand for high-speed optical devices due to the acceleration of the AI industry and global data center construction [2] - Demingli forecasts a net profit of 650 million to 800 million yuan for 2025, representing a year-on-year increase of 85.42% to 128.21% [2] - Moore Threads anticipates 2025 revenue between 1.45 billion and 1.52 billion yuan, a growth of 230.70% to 246.67% year-on-year, but expects a net loss of 950 million to 1.06 billion yuan, narrowing the loss by 34.50% to 41.30% compared to the previous year [2] - Baiwei Storage's advanced packaging project is progressing well, with expected monthly production capacity reaching 5,000 wafers by the end of 2026 and 10,000 wafers by the end of 2027, contributing to revenue starting in late 2026 [2] Additional Company Updates - Jin'an Guoji expects a net profit of 280 million to 360 million yuan, a year-on-year increase of 655.53% to 871.40% [3] - Tengjing Technology received a purchase order worth 12.8 million USD (approximately 89.15 million yuan) from a client, which is expected to positively impact its operating performance [3] - Dajin Heavy Industry forecasts a net profit of 1.05 billion to 1.2 billion yuan for 2025, a year-on-year increase of 121.58% to 153.23% [3] - Juhua Co. expects a net profit of 3.54 billion to 3.94 billion yuan, a year-on-year increase of 80% to 101% [3] Industry Trends - Intel and AMD plan to raise server CPU prices by 10% to 15% to address supply-demand imbalances, with their server CPU capacities for 2026 nearly sold out [6] - TSMC is increasing investment in advanced packaging technology, with plans to upgrade existing facilities and expand production capacity significantly by the end of 2027 [7] - The photovoltaic industry is experiencing price increases, with Trina Solar raising its guidance prices for distributed photovoltaic modules by 0.03 yuan/W, marking the third price adjustment since the beginning of 2026 [11] - The Ministry of Industry and Information Technology announced that China's 6G research has completed the first phase of technical testing, with over 300 key technology reserves established [12]

Core Points - The "Lingang Science and Technology Innovation City" construction plan aims to leverage the innovative advantages of the new area, promoting innovation and entrepreneurship, and establishing Lingang as a key hub for technology transfer, emerging industries, and youth entrepreneurship [1] - The plan sets two phased goals for 2027 and 2030, including the establishment of at least 7 high-level laboratories and research institutions, maintaining R&D expenditure at over 5.5% of GDP, nurturing over 2,000 high-tech enterprises, and attracting over 40,000 innovative talents [1] Group 1: Goals and Communities - The plan outlines four benchmark science and technology innovation communities: 1. Dishui Lake AI Innovation Port focusing on digital culture, automotive electronics, and smart terminals 2. Dishui Lake IC Innovation Port concentrating on integrated circuits, brain-machine science, and new materials 3. Dishui Lake Financial Bay targeting overseas services and cross-border finance 4. Dishui Lake International Data Port emphasizing digital services and e-commerce live streaming [2] Group 2: Action Plans - Five major action plans are proposed: 1. Strengthening technology transfer by leveraging high-level research institutions and major scientific facilities, focusing on key industries like integrated circuits and civil aviation [3] 2. Leading frontier industries by nurturing future industry tracks such as fourth-generation semiconductors and controlled nuclear fusion [3] 3. Attracting innovative and entrepreneurial talent through the "Blue Whale Plan" targeting digital nomads and entrepreneurs [3] 4. Accelerating capital empowerment with a 600 million yuan fund to support innovative projects in civil aviation and biomedicine [3] 5. Building an innovation ecosystem by providing over 300,000 square meters of low-cost entrepreneurial space and 5,000 youth apartments within five years [4]

阿通社1月18日消息，沙迦创业者支持基金会批准为两个新创业项目提供共计80万迪拉姆的资金支 持。该决定在2026年首次项目资助委员会会议上审议通过。基金会表示，将持续加大对中小企业和创新 企业的支持力度，以增强经济多元化和行业竞争力。 （原标题：沙迦创业者支持基金会向两项目提供80万迪拉姆资助） ...

Core Viewpoint - The appointment of Radenko Bubić as the Minister of Economy and Entrepreneurship in the Republika Srpska is expected to strengthen the connection between the business sector and government, potentially improving the business environment and accelerating economic development in the region [1] Group 1: Government Changes - The new government composition in the Republika Srpska includes significant personnel changes, notably the appointment of Radenko Bubić to replace the current minister, Vojin Mitrović [1] - Bubić is recognized as one of the most important entrepreneurs in Bosnia (Republika Srpska), having built a career in the local footwear industry [1] Group 2: Company Profile - Bubić owns the "Dermal" company, which is one of the largest shoe manufacturing enterprises in Bosnia, operating for over twenty years [1] - The Dermal company employs over 1,100 workers in the towns of Kotor Varoš and Knežavo, making it a key player in the local economy [1] - The company has been actively investing in capacity building and expanding its business scope, with products exported to international markets [1] Group 3: Political Involvement - Bubić is politically active as a member of the Alliance of Independent Social Democrats (SNSD) and a significant local leader in Kotor Varoš [1] - His political involvement includes participation in public affairs and local politics, which may enhance the collaboration between the business sector and administrative bodies [1]