Hylink(SH:603825) Zhong Guo Jing Ji Wang·2026-02-02 03:15Core Viewpoint - The Shanghai Stock Exchange issued a regulatory work letter regarding the performance forecast of Huayang Lianzhong Digital Technology Co., Ltd., indicating expected significant losses for the fiscal year 2025 [1][2]. Group 1: Company Performance - Huayang Lianzhong (ST Huayang, stock code 603825) anticipates a net profit attributable to shareholders of the listed company for 2025 to be between -700 million yuan and -590 million yuan, indicating a loss [2]. - The expected net profit after deducting non-recurring gains and losses for 2025 is projected to be between -720 million yuan and -610 million yuan [2]. Group 2: Historical Context - On June 18, 2020, ST Huayang reached its highest stock price of 38.89 yuan since its listing [2]. - Anxin Securities analyst Chen Min maintained a "Buy-A" rating for Huayang Lianzhong in a report published on June 16, 2020, emphasizing the company's transformation and new channel operations [2]. Group 3: Corporate Changes - Anxin Securities announced on December 8, 2023, that it completed the registration of a name change, with the company now named Guotou Securities Co., Ltd. [2].