| 代码 | 名称 | | 涨幅% ↑ | 总市值 | 年初至今涨幅%。 | | --- | --- | --- | --- | --- | --- | | 300118 | 东方日升 | 1 | -7.33 | 242亿 | 44.95 | | 603806 | 福斯特 | | -5.34 | 463亿 | 27.08 | | 002865 | 钧达股份 | 1 | -5.08 | 289亿 | 80.97 | | 002506 | 协鑫集成 | 1 | -4.61 | 206亿 | 25.71 | | 688599 | 天合光能 | 长 | -4.53 | 464亿 | 19.58 | | 605117 | 德业股份 | 1 | -4.40 | 820亿 | 4.64 | | 600537 | 亿闘米甲 | | -4.14 | 38.35亿 | -22.12 | | 300274 | 阳光电源 | 1 | -4.01 | 3148亿 | -11.23 | | 300554 | 三超新材 | 报 | -3.80 | 29.51亿 | 11.43 | | 603398 | *ST沐邦 | | -3.10 | ...

数字动能锻造制造升级硬支撑 上个月底，工业和信息化部办公厅等部门公布了2025年度领航级智能工厂培育名单，全国仅有15个。其中，成都飞机工业（集团）有限责任公司的先进航空 装备柔性敏捷智能工厂成功入选。 值得注意的是，领航级智能工厂融合了新一代信息技术、先进制造技术、精益管理理念等，是我国制造业智能化最高标准的代表。 亮眼成绩背后，是37个工业大类行业中25个全线飘红的多点迸发，是新能源汽车181.0%、锂离子电池33.9%、集成电路23.3%的爆发式产量增长，更是国 有、外资、民营经济分别以4.7%、16.5%、10.4%增速同向发力的协同奋进。 从智改数转的全域深耕到新兴未来产业的强势崛起，从"立园满园"的集群聚变到营商环境的持续升级，成都正以工业立市、制造强市为战略根基，以新质生 产力为核心动能，在建设全国先进制造业基地赛道上全速奔跑。 ▲成都 摄影：伏若辰 攻坚"智改数转" 对于成都而言，加快制造业数字化转型不是"选答题"，而是关乎未来高质量发展的"必答题""加分题"。2025年，成都以10余项国家级试点为契机，举全市之 力推动"智改数转"向纵深突破。 2025年，成都工业经济交出高光答卷——全市规上 ...

上市企业：新希望（000876）,海大集团（002311）,通威股份（600438）,大北农（002385）,粤海饲料 （001313） 相关报告：智研咨询发布的《2026-2032年中国饲料行业市场调查研究及发展前景展望报告》 2020-2025年中国饲料产量统计图 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 根据国家统计局数据显示：2025年12月中国饲料产量为3009万吨，同比增长3.9%；2025年中国饲料累 计产量为33908.3万吨，累计增长6%。 ...

Core Viewpoint - Tongwei Co., Ltd. has experienced a decline in stock price and financial performance, with significant changes in shareholder structure and market activity [1][2][3]. Group 1: Stock Performance - On January 28, Tongwei's stock price fell by 2.05% to 19.10 CNY per share, with a trading volume of 582 million CNY and a turnover rate of 0.67%, resulting in a total market capitalization of 85.99 billion CNY [1]. - Year-to-date, the stock has decreased by 6.92%, with a 3.30% increase over the last five trading days, an 11.20% decline over the last 20 days, and a 24.24% drop over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Tongwei reported a revenue of 64.6 billion CNY, a year-on-year decrease of 5.38%, and a net profit attributable to shareholders of -5.27 billion CNY, down 32.64% year-on-year [2]. Group 3: Shareholder Structure - As of December 19, the number of shareholders increased to 293,500, a rise of 16.48%, while the average circulating shares per person decreased by 14.15% to 15,337 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the second-largest shareholder with 136 million shares, a decrease of 27.91 million shares from the previous period [3].

Summary of Lianhua Technology Conference Call Company Overview - **Company**: Lianhua Technology - **Industry**: Chemical manufacturing, focusing on agricultural protection, pharmaceutical raw materials, and functional chemicals Key Points Financial Performance - **Q4 2024 Performance**: Expected non-net profit growth of 172% to 238%, driven by increased capacity utilization, exchange rate gains, and business improvements [2][3] - **2025 Profit Forecast**: Projected net profit of 350 million to 420 million CNY, representing a year-on-year increase of 239% to 307% [3] Business Segments - **Agricultural Protection**: Accounts for approximately 60% of revenue, significantly influenced by market cycles. The company collaborates with major global agricultural firms and has a diversified base layout to mitigate risks [2][4][8] - **Pharmaceuticals**: The CDMO segment has shown steady growth, contributing significantly to profits. The company has 18 commercialized products and multiple clinical-stage products, with a focus on maintaining strong client relationships and quality management [2][9][11] - **New Energy**: Focuses on battery-related chemicals, including lithium hexafluorophosphate (LiFSI), with planned capacities of 20,000 tons for lithium hexafluorophosphate and 10,000 tons for LiFSI. This segment is viewed as a long-term growth area despite current challenges [2][12][17] - **Equipment and Engineering Services**: Managed by Shanghai Baofeng, this segment provides stable revenue through sales of energy-saving equipment and chemical containers, serving clients in various industries [2][13] Strategic Developments - **Global Base Distribution**: The company operates 9 bases globally, with 7 in China and 2 overseas in the UK and Malaysia. The UK base has recently turned profitable after adjustments, while the Malaysian base is under construction and expected to enhance order volume [6][14] - **R&D Investment**: Maintains a research and development expense ratio of approximately 5%, which is above the industry average. The company has developed various synthesis technologies that strengthen its CDMO capabilities [7] Market Trends and Competitive Position - **Agricultural Market Trends**: Currently in a recovery phase, with Lianhua Technology positioned as a leading domestic CDMO player due to long-term partnerships with major global firms [8] - **Pharmaceutical CDMO Growth**: This segment is less cyclical than agricultural protection, indicating greater growth potential. The company has established strong ties with top pharmaceutical companies [9][16] Future Outlook - **Long-term Growth Potential**: Expected profits of approximately 409 million CNY in 2025, 581 million CNY in 2026, and 727 million CNY in 2027, indicating a positive long-term outlook [20] - **Focus Areas**: 1. Agricultural protection business growth through the Malaysian base 2. Expansion of pharmaceutical CDMO projects to enhance client retention 3. Anticipated sales growth in the new energy materials sector post-technical upgrades [21][22] Challenges and Historical Context - **Past Challenges**: The company faced significant operational challenges due to environmental regulations and incidents, particularly affecting the UK base. Recovery has been gradual, with improvements expected in profitability [18] Industry Context - **CDMO Industry Dynamics**: The CDMO sector is characterized by outsourcing supply chains to reduce costs and ensure compliance. Chinese companies have unique advantages in human resources and problem-solving capabilities, allowing them to thrive despite competition [19]

谨慎派则警示多重风险，当前白银技术面已处于极端超买状态，短期回调压力累积。若光伏替代技术落 地进度超预期，可能修正白银需求预期；美联储降息进程不及预期或美元走强，将压制其金融属性。此 外，交易所可能通过提高保证金等措施抑制投机，叠加获利盘了结，均可能引发价格剧烈震荡。影响后 续走势的关键变量，集中在技术替代节奏、货币政策落地及供需缺口修复速度上。 2026年开年不到一个月，国际白银市场迎来疯狂涨势，伦敦现货白银价格最高突破117美元/盎司，累计 涨幅超60%，凌厉走势远超黄金，金银比一度跌至50附近，创下近13年新低。这场行情既改写了产业链 利润分配格局，也呈现出"上游欢腾、下游承压"的分化态势，背后是供需、产业与金融属性的多重共 振，市场对后续走势的博弈持续升温。 价格狂欢之下，白银产业链上下游呈现出截然不同的境遇。上游矿企赚得盆满钵满，盛达资源2025年前 三季度净利润同比增长61.97%，湖南白银、白银有色等企业股价开年以来涨幅均超100%，多家企业加 速推进涉银矿产项目开发与并购，加码布局抢占红利。中游银浆企业凭借"银价+加工费"的背靠背定价 模式，基本规避银价波动风险，维持稳定盈利。 下游终端行业则 ...

转自：成都日报锦观 以赛赋能育工匠 以技聚力兴产业 ——百万职工大练兵，能工巧匠注入产业新动能 春潮涌动处，奋进正当时。成都市两会期间，来自产业一线的工匠代表们带着鲜活的一线观察和思考走进会场，让车间的"硬经验"融入发 展"大蓝图"。市人大代表、成都华川电装有限责任公司电气技术员吴承全一抵达报到点便被媒体围住。谈及履职心声，这位从普通电工成长起 来的"中国兵器装备集团技术能手""成都工匠"表示，"一直以来，成都搭建的各类技能赛事平台让我在一次次比拼中攻克技术难关、锤炼过硬 本领，技能真的能改变命运。" 2025年，成都百万职工技能大赛如一场"技能盛宴"，覆盖全市各行各业，从智能车间到田间地头、从新就业形态的服务一线到企业内部的岗位 练兵，层级分明又全域联动的赛事体系让无数像吴承全一样的劳动者找到了成长舞台。这场跨越全年的技能比拼不仅是技艺的较量、人才的选 拔，更成为激活职工创新活力、推动产业提质升级的重要引擎。 赛场即产线 技能比拼精准对接产业前沿 "以前找创新成果难，现在通过赛事就能精准对接，省时又高效。"四川鸿云泽科技有限公司负责人欣喜地说，公司通过赛事签约了AI导览系 统、实景三维重建技术等三项成果，很 ...

白银，无疑是2026年以来最"风光"的金属品种，其风头不仅盖过了铜、铝等基本金属，也盖过了黄金等贵金属。 证券时报记者近日调查与采访发现，在白银价格猛烈上涨之际，却是"有人欢喜有人忧"。白银由于在工业上有广泛应用，其价格的大幅上涨已对相 关产业链带来深刻影响。 疯狂的白银：不到一个月暴涨超60% 白银价格涨势正在加速。 上游矿企"喜上眉梢" 下游光伏感受寒意 在白银价格连续大幅上涨之际，产业链上游的银矿企业自然成为其中的受益者。 比如，在银价走强等因素推动下，盛达资源2025年前三季度实现营业收入16.52亿元，同比增长18.29%，归属于上市公司股东的净利润3.23亿元， 同比增长61.97%。 以国际市场上的伦敦银现价格为例，行情数据显示，伦敦银现价格日前最高已突破每盎司117美元，这意味着在2026年以来不到一个月的时间里， 伦敦银现价格累计最大涨幅已经超过60%，如此快速且巨大的涨幅令人瞠目结舌，而且这还是在白银价格已经大涨的基础上实现。2025年，伦敦银 现价格全年累计涨幅超过140%，创下本世纪以来最大的年度涨幅。 （投资银条 吴家明/摄） 供需失衡被认为是白银价格连续大幅上涨的主要原因之一。华联 ...

Core Viewpoint - The photovoltaic industry is undergoing a deep reform to combat internal competition, with regulatory measures and policy adjustments reflecting a commitment to high-quality development. However, many companies are still facing significant losses, indicating that this battle is not a short-term fix but a necessary step to resolve structural issues within the industry [2][5]. Industry Performance - Major companies like Tongwei Co., Ltd. and LONGi Green Energy are projected to incur substantial losses in 2025, with estimated net losses of 9 to 10 billion yuan and 6 to 6.5 billion yuan respectively. Other companies such as JA Solar, JinkoSolar, and Trina Solar are also expected to report significant losses, highlighting the severe challenges faced by the industry [2][3]. - The average gross margin for the entire industry is only 3.64%, with many companies trapped in a cycle of "production equals loss" due to oversupply and rising raw material costs [3][4]. Causes of Losses - The industry's performance crisis is primarily attributed to excessive homogenous production capacity and fierce price competition, compounded by soaring raw material costs. The supply of silicon materials is projected to exceed global demand by more than double over the next three years, leading to a significant imbalance [3][4]. - The price of silver, a key material in photovoltaic cells, has surged by 231% in 2025, pushing companies to adopt cost-cutting measures at the expense of technological innovation and quality [4][5]. Recommendations for Improvement - Companies must shift their focus from price competition to technological innovation and quality improvement, investing in advanced battery technologies such as TOPCon, BC, and ABC to enhance efficiency and reduce costs [4][6]. - The industry needs to establish self-regulatory standards to combat unfair competition practices, such as selling below cost and misrepresenting product capabilities, while promoting collaboration among companies to consolidate resources [4][6]. Government Role - Government policies and regulatory actions are crucial for supporting the industry's reform efforts. A unified and clear policy direction is necessary to stabilize market expectations and foster industry consensus [5][6]. - Regulatory bodies should enhance oversight on low-price dumping and set higher energy consumption and environmental standards for mature production stages, while also optimizing bidding rules to prioritize technology and quality over price [5][6]. Future Outlook - The photovoltaic industry is at a critical juncture, with the potential for recovery as companies begin to reduce losses and improve profitability. Analysts suggest that the industry may see a turning point in profitability by early 2026 [6][7]. - A collaborative effort between companies and government is essential to ensure that innovation becomes the cornerstone of industry development, allowing China to transition from a manufacturing hub to a center of innovation in the global energy transformation [7].

Core Viewpoint - The photovoltaic (PV) industry in A-shares is facing significant losses, with many leading companies projecting substantial pre-loss figures for 2025 due to a challenging operating environment and supply-demand imbalances [2][3]. Group 1: Financial Performance and Projections - Major PV companies are expected to report significant pre-loss figures for 2025, including Tongwei Co. with a projected loss of 9 to 10 billion yuan, LONGi Green Energy with 6 to 6.5 billion yuan, and JinkoSolar with 5.9 to 6.9 billion yuan [2]. - The overall operating environment remains difficult, with many companies experiencing nine consecutive quarters of losses since Q4 2023, driven by price declines and insufficient end-demand [3]. Group 2: Industry Dynamics - The PV module prices are under pressure due to "involutionary competition" and a lack of terminal demand, with market transaction prices around 0.6 yuan per watt expected in mid-2025 [3]. - The industry is witnessing a supply surplus, with production rates declining across various segments, while core material prices, such as silver, continue to rise [3]. Group 3: Recovery Efforts and Future Goals - Some companies are beginning to emerge from the loss cycle, with LONGi Green Energy projecting a maximum reduction in losses of 30.38% and Aiko Solar up to 77.44% compared to 2024 [4]. - The China Photovoltaic Industry Association noted a 16.9% year-on-year decline in revenue for the main industry chain in the first three quarters of 2025, but an improvement in gross margins to 3.64% [4]. - Several leading PV companies have set profit targets for 2026, with Trina Solar aiming for a net profit of no less than 200 million yuan and LONGi Green Energy targeting positive net profits in subsequent years [5].