证券代码：688622 证券简称：禾信仪器 公告编号：2026-003 广州禾信仪器股份有限公司 关于公司股票可能被实施退市风险警示暨股票交易的 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 广州禾信仪器股份有限公司（以下简称"公司"）于 2026 年 1 月 31 日在上海 证券交易所网站(www.sse.com.cn)披露了《2025 年年度业绩预亏公告》，自披露日至 2026 年 2 月 12 日，连续 9 个交易日内公司股票收盘价格累计涨幅超过 50%，累计涨幅 与公司基本面、同期上证指数、所处的仪器仪表制造业上市公司平均涨幅存在较大偏 离，存在市场情绪过热及非理性炒作的情形，不排除股价有大幅下跌的可能性。公司 强烈提醒广大投资者理性判断，注意投资风险和交易风险，避免产生较大投资损失。 公司正在实施发行股份及支付现金购买资产并募集配套资金暨关联交易事项 (以下简称"本次交易")，本次交易事项尚需经上海证券交易所审核，并获得中国证 监会同意注册后方可实施，能否审核通过、完成注册，以及最终取得审核通过 ...

禾信仪器公告，公司预计2025年年度实现归属于母公司所有者的净利润为-8900万元左右，同比下降 93.52%左右；预计实现归属于母公司所有者扣除非经常性损益后的净利润为-9300万元左右，同比下降 47.39%左右；预计实现营业收入9700万元左右，同比下降52.10%左右。扣除与主营业务无关的业务收 入和不具备商业实质的收入后的营业收入预计为9000万元左右，低于1亿元。若公司经审计的扣除非经 常性损益前后的净利润孰低者为负值，且营业收入低于1亿元，公司股票将在2025年年度报告披露后可 能被实施退市风险警示。 ...

Summary of Key Points from the Conference Call Industry Focus - The discussion centers around the **quantum computing industry**, highlighting its potential for investment opportunities in the near future [1]. Core Insights and Arguments - The company emphasizes that **quantum technology** is a promising investment theme, suggesting a phased approach to investment in this sector [1]. - It is anticipated that by **2026**, multiple provinces will likely initiate tenders for **hyper-converged computing** systems, which is expected to benefit leading companies such as **Guodun Quantum** [1]. - In terms of applications, **Guoxin Technology** has recently developed quantum chips for **L4 safety in intelligent driving**, marking a significant step towards practical applications of quantum technology in this field [1]. Individual Stock Insights - The company highlights **Hexin** as a stock to watch, indicating that it is expected to see developments soon, and suggests that the negative impacts from ST (Special Treatment) have largely been absorbed [1]. Investment Recommendations - The company recommends investing in the following stocks: - **Guodun Quantum** - **Hexin Instruments** - **Guoxin Technology** [1].

Summary of Conference Call Notes Industry Overview - **Aerospace and Space Industry**: Identified as the strongest theme for the year, with expectations for significant developments in Q2, particularly around March to April for successful recoveries. The anticipated IPO of SpaceX in June is expected to heighten market sentiment [1][1]. - **Quantum Technology**: Positioned as a medium-term investment opportunity with several upcoming events that could act as catalysts, including the Spring WA event, NVIDIA conference, advancements in autonomous driving applications, and breakthroughs in error correction capabilities. The core catalyst for the sector is expected to be the turning point in leading companies' financial reports and local government tenders for computers, estimated for Q2 [1][1]. - **Nuclear Fusion**: Focus on upcoming bids in Jiangxi and Chengdu post-holiday, with the CFEDR unveiling. Recommendations are made for platform-type enterprises, with a specific mention of Yongding Co., which is expected to enter a superconducting production phase starting Q1, alongside recent price increases in optical fibers [2][2]. Key Points and Arguments - **Aerospace Sector**: - Q2 is projected to be the peak period for the aerospace sector, with significant events expected in March-April [1][1]. - The IPO of SpaceX in June is anticipated to create a high point in market sentiment [1][1]. - Recent research on Hangsheng Satellite indicates strong fundamentals, and continued attention is advised for Cloud Horse [1][1]. - **Quantum Sector**: - The sector is viewed as having potential for short-term catalysts, with specific focus on leading companies' financial reports and local government tenders [1][1]. - He Xin Instruments is highlighted as having the most significant marginal changes expected soon, while Guo Dun is recommended for long-term investment based on Q1 financial reports being a sector benchmark [1][1]. - **Nuclear Fusion Sector**: - Emphasis on platform-type enterprises as a strategic focus, with Yongding Co. expected to see a ramp-up in superconducting production starting in Q1 [2][2]. - The recent increase in optical fiber prices is noted as a positive development for platform-type companies [2][2]. Additional Important Information - The mention of "three swordsmen" refers to key players in the aerospace sector, suggesting that any pullback in their stock prices should be viewed as an investment opportunity [1][1]. - The overall sentiment indicates a strong belief in the growth potential of the aerospace and quantum sectors, with specific companies highlighted for their promising outlooks [1][1][2][2].

1 空天：还是最强主题～毋庸置疑全年主线，二季度预计锐度最强，重要期待时间3-4月可回收成功（板块高潮 的前提），6月龙头火箭上市/Space X 报ipo（板块将情绪高点），#所以三剑客回调就是机会，昨天调研航升卫星 质地很不错，云中马持续关注。 2量子：阶段性布局，短期很多可以期待的事件，算是中型催化吧（春wan、英伟达大会、智驾应用、纠错能力突 破）；板块最核心催化还是龙头财报拐点+地方政府招标计算机（估计二季度）。 跟各位领导汇报下观点，对比下几个主题，最近问的领导多 1 空天：还是最强主题～毋庸置疑全年主线，二季度预计锐度最强，重要期待时间3-4月可回收成功（板块高潮 的前提），6月龙头火箭上市/Space X 报ipo（板块将情绪高点），#所以三剑客回调就是机会，昨天调研航升卫星 质地很不错，云中马持续关注。 2量子：阶段性布局，短期很多可以期待的事件，算是中型催化吧（春wan、英伟达大 跟各位领导汇报下观点，对比下几个主题，最近问的领导多 个股层面边际变化最大的是#禾信仪器（预计近期落地），龙头国盾长期建议配置（Q1财报是板块风向标）。 3核聚变：关注节后江西+成都开标、CFEDR揭牌，事件催化 ...

- The report highlights the monthly performance of strong stocks, indicating that despite the adjustment of heavyweight stocks, small-cap stocks provided a hedge, but the overall market profitability was weak, with total market turnover dropping from 3.99 trillion yuan on January 14 to 2.16 trillion yuan on February 6[6] - The top 20 stocks with the highest gains in February are listed, including sectors such as space photovoltaics, batteries, copper connections, innovative drugs, real estate, and more, with the highest gain reaching 80.52% for *ST立方[6] - The report provides a detailed analysis of the maximum gains in various sectors since the start of the bull market, with telecommunications and metal materials/mining sectors achieving the highest gains of 218% and 217%, respectively, from February 5, 2024, to February 7, 2026[9]

Core Viewpoint - The article analyzes the 2025 performance forecasts of 22 domestic listed instrument companies, highlighting the divergence in performance and the impact of various market factors on the industry [2]. Group 1: Industry Overview - The overall operating conditions of the domestic instrument industry are gradually becoming clearer as companies disclose their 2025 performance forecasts [2]. - Among the 22 companies, 11 reported profits while 11 incurred losses; 8 of the profitable companies experienced year-on-year growth, while 3 saw stable or slightly fluctuating profits [2]. - The performance divergence is attributed to factors such as fluctuations in downstream demand, intensified industry competition, policy changes, and global supply chain instability [2]. Group 2: Performance Statistics - The net profit statistics for the listed instrument companies indicate significant growth for several firms, with some achieving over 190% year-on-year increases [3][8]. - Notable performers include: - Aiko Optoelectronics: Net profit of 0.57-0.7 billion, up 262.52-345.20% from 0.1572 billion [3]. - Haineng Technology: Net profit of 0.41-0.44 billion, up 213.65-236.61% from 0.1307 billion [3]. - Wan Yi Technology: Net profit of 0.42-0.62 billion, up 191.52-330.34% from 0.1441 billion [3]. Group 3: Industry Trends - The industry is witnessing increased performance divergence, with a trend towards higher concentration as companies with core technologies and strategic layouts capture more market share [5]. - The ongoing domestic substitution is deepening, with high-end instruments becoming a key growth driver, supported by policy incentives for high-end scientific instruments and equipment upgrades [5]. - Companies focusing on high-end sectors, such as high-end industrial imaging and clinical diagnostics, are expected to benefit from these trends [5]. Group 4: Operational Strategies - Companies facing operational pressures are likely to improve performance by divesting loss-making businesses, optimizing asset structures, and enhancing management of receivables and inventory [6]. - Profit-making companies will continue to pursue refined management practices to consolidate their advantages and enhance risk resilience [6]. Group 5: Performance Categories - Companies achieving profit growth or turning losses into profits are primarily benefiting from asset impairment improvements and business structure optimizations [18]. - The companies in this category include: - Gaode Infrared: Successfully turned around from a loss to a profit [18]. - Xianhe Environmental: Achieved profitability through structural optimization [21]. - Zhengye Technology: Also turned from loss to profit due to similar improvements [22]. Group 6: Challenges Faced - Companies experiencing expanded losses or transitioning from profit to loss share common challenges, including reliance on single business lines and significant asset impairment pressures [30]. - The need for transformation is evident, as some companies are in the process of adjusting their business models, which may not yet yield sufficient revenue to offset declines in traditional business areas [30].

一场高规格表彰展现的城市态度 回望2025年，广州民营经济交出了一份亮眼的成绩单：全年增加值近1.4万亿元，同比增长5.2%；全市民营经 济主体突破405万户，占市场主体总量的96%，带动广州市场主体数量跃居全国第二。广大民营企业以实干稳 增长、以创新促转型、以担当惠民生，已成为这座城市高质量发展不可或缺的核心力量。 一次高规格的表彰，传递的是一份坚定的信心；一系列连贯的行动，彰显的是一种长期主义的决心。这次大 会，向社会各界清晰释放了广州对民营经济地位和作用高度认可、坚定不移支持的强烈信号，并激励全市非 公有制经济人士乘势而上，在高质量发展赛道上再创佳绩，与城市同频共振、共生共荣。 这份重视，广州一如既往、掷地有声。从市委常委会的专题部署，到市领导高频次的企业走访调研，广州清 晰表达了：民营经济不是配角，而是推动高质量发展、现代化建设的生力军。 这份支持，更体现为制度化的先行与引领。从"老板"到"优秀建设者"，称谓之变的背后，是对民营企业家社 会身份的重新定义和价值贡献的认同。广州也将这种态度，转化为一系列开创性的制度设计： 2月6日，广州市非公有制经济人士优秀中国特色社会主义事业建设者暨光彩事业贡献奖表彰 ...

摘要 ： 随着临床应用的不断深入，MALDI-TOF MS的价值正从"快速鉴定"向"信息延展"演进。基于此，仪器 信息网对近年来的MALDI-TOF产品进行了梳理，以供读者参考。 特别提示 微信机制调整，点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标，否则很可能无法看到我们的 推送。 基质辅助激光解吸电离飞行时间质谱（MALDI-TOF MS）作为临床实验室的常规配置之一，以极 快的速度和高通量特性已广泛应用于血培养、尿液、呼吸道及其他临床样本的微生物鉴定流程中， 成为感染性疾病诊疗链条中的关键技术节点。 当 前 ， 耐 药 病 原 微 生 物 感 染 已 成 为 全 球 公 共 卫 生 领 域 的 重 大 挑 战 ， 每 年 导 致 数 百 万 人 死 亡 。 近 年 来，MALDI-TOF MS与机器学习（ML）技术的结合，为抗菌素耐药性（AMR）的快速检测提供 了新的解决路径。通过对质谱指纹信息的深度挖掘与建模分析，相关研究已将耐药性判读时间缩短 至1天甚至更短，为临床快速决策和抗菌药物精准使用创造了条件。 随着临床应用的不断深入，进口与国产质谱厂商相继推出新一代MALDI-TOF仪器： ...

Core Viewpoint - The company, Guangzhou Hexin Instrument Co., Ltd., is expected to report significant losses for the fiscal year 2025, with a projected net profit loss of approximately 89 million yuan, representing a 93.52% decrease compared to the previous year [1] Financial Performance - The estimated net profit attributable to shareholders for 2025 is projected to be around -89 million yuan, a decrease of approximately 43.01 million yuan from the previous year [1] - The estimated net profit after deducting non-recurring gains and losses is expected to be around -93 million yuan, reflecting a decrease of about 29.90 million yuan, or 47.39% year-on-year [1] - The estimated operating revenue for 2025 is around 97 million yuan, which is a decrease of approximately 105.51 million yuan, or 52.10% compared to the previous year [1] Risk of Delisting - If the audited net profit (before and after deducting non-recurring gains and losses) is negative and the operating revenue (after excluding unrelated business income) is below 100 million yuan, the company may face delisting risk warnings, indicated by the "*ST" prefix on its stock name [2] Shareholder Information - As of September 30, 2025, the eighth largest shareholder is Huatai Securities Co., Ltd., holding a 1.22% stake [2] Initial Public Offering (IPO) Details - The company raised a total of 310 million yuan from its IPO, with a net amount of 273 million yuan after deducting issuance costs [4] - The planned fundraising amount was 326 million yuan, intended for projects including the expansion of the mass spectrometry industrialization base and the construction of a research and development center [4] Previous Financial Results - In 2024, the company reported an operating revenue of 203 million yuan, a year-on-year decrease of 44.70%, and a net profit attributable to shareholders of -45.99 million yuan [4] - The company also reported a net profit of -63.33 million yuan in 2022, indicating ongoing financial challenges [5]