截至2026年1月30日收盘，华丰科技(688629)报收于94.0元，下跌0.2%，换手率6.62%，成交量12.03万 手，成交额11.32亿元。 四川华丰科技股份有限公司为规避汇率波动对经营的不利影响，拟在2026年1月1日至12月31日期间开展 远期结售汇业务，交易金额不超过150万美元及30万欧元，资金来源为自有资金。该事项已于2026年1月 30日经公司第二届董事会第十九次会议审议通过，不涉及关联交易，无需提交股东大会审议。公司已制 定相关内控制度，采取多项风控措施，确保业务合规开展。保荐机构对该事项无异议。 关于开展远期结售汇业务的可行性分析报告 四川华丰科技股份有限公司因跨境贸易涉及美元及欧元结算，为规避汇率波动风险，拟在2026年1月1日 至12月31日期间开展远期结售汇业务，交易金额不超过150万美元及30万欧元，资金来源为自有资金。 公司已制定相关内控制度，明确审批权限和操作流程，不进行投机性交易，旨在提高外汇资金使用效 率，增强财务稳健性。董事会授权董事长或其指定代理人审批相关合约，由财务部具体执行。 申万宏源证券承销保荐有限责任公司关于四川华丰科技股份有限公司开展远期结售汇业务的核查 ...

Group 1 - The company has completed customer validation testing for its 224G high-speed backplane connector and has samples available [1] - The company has initiated project cooperation and communication with major telecommunications customers, with mass production timing dependent on customer demand [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][14] Core Insights - The company is expected to achieve a net profit attributable to shareholders of between 338 million and 388 million yuan in 2025, marking a turnaround from losses and representing a year-on-year increase of approximately 356 million to 406 million yuan, which is about 4.67 to 5.36 times the net profit of 2023 [6][7] - The anticipated net profit for Q4 2025 is projected to be between 115 million and 165 million yuan, reflecting a year-on-year growth of 272% to 434% [6][7] - The growth is primarily driven by the integration of artificial intelligence, cloud computing, and big data technologies, which are fueling a surge in demand for key equipment such as switches, AI servers, and core routers [7] Financial Projections - Revenue projections for 2025, 2026, and 2027 are 2.573 billion, 3.788 billion, and 5.120 billion yuan respectively, with growth rates of 136%, 47%, and 35% [12][13] - The net profit attributable to shareholders is expected to be 370 million, 672 million, and 876 million yuan for the same years, with growth rates of 2182%, 82%, and 30% [12][13] - The earnings per share (EPS) are projected to be 0.80, 1.46, and 1.90 yuan for 2025, 2026, and 2027 respectively [12][13] Market Position and Strategy - The company is actively collaborating with major manufacturers and internet application clients in the AI and data center sectors, including partnerships with Inspur, Huawei, and Tencent [8] - In the electric vehicle sector, the company has expanded its client base to include major players such as SAIC-GM-Wuling and BYD, as well as new clients like FAW Bestune and Geely [9] - The company is focusing on expanding its production capacity in technology innovation fields, particularly in AI, defense, commercial aerospace, and communications [10] Investment and Growth Initiatives - The company plans to invest 4.5 billion yuan in a high-speed line module project, which is expected to be a core component of AI computing servers, with a construction period of six months [11] - An investment of 470 million yuan is allocated for the construction of a defense connector base, aimed at enhancing R&D and manufacturing capabilities for various applications [11] - A project to upgrade communication connector R&D capabilities is set to receive an investment of 80 million yuan, with a two-year construction period [11]

四川华丰科技股份有限公司 二、开展远期结售汇业务的基本情况 （一）交易目的 为了规避汇率波动对公司造成的不利影响，提高外汇资金的使用效率。基于 公司外汇业务实际情况，拟与银行开展远期结售汇业务。 （二）交易金额 公司 2026 年度拟开展远期结售汇业务的金额不超过 150 万美元及 30 万欧 元，在决议有效期内可以滚动使用。有效期内任一时点的交易金额不超过前述最 高额度。 （三）资金来源 公司开展远期结售汇业务资金来源为自有资金，不涉及募集资金。 关于开展远期结售汇业务的可行性分析报告 一、开展远期结售汇业务的必要性 四川华丰科技股份有限公司（以下简称"公司"）在经营业务活动中涉及 跨境贸易，结算币种主要采用美元及欧元。受国际政治、经济形势等因素影响， 汇率和利率波动幅度不断加大，外汇风险显著增加。为了有效规避外汇市场风险， 防范汇率大幅波动对公司经营业绩造成不利影响，公司有必要根据具体情况，适 度开展远期结售汇业务，从而提高外汇资金使用效益，增强公司财务稳健性。 本次授权远期结售汇业务的有效期为 2026 年 1 月 1 日起至 2026 年 12 月 31 日，在授权有效期内交易额度可以滚动使用。上述额 ...

交易主要情况 | 交易目的 | □获取投资收益 套期保值（合约类别：□商品；外汇；□其他：________） | | | --- | --- | --- | | | □其他：________ | | | 交易品种 | 外汇远期结售汇 | | | 交易金额 | 预计动用的交易保证金和权利金 上限 | 不适用 | | | 预计任一交易日持有的最高合约 | 不超过150万美元、30万 | | | 价值 | 欧元 | | 资金来源 | 自有资金 □借贷资金 | □其他：___ | | 交易期限 | 2026年1月1日至2026年12月31日 | | 证券代码：688629 证券简称：华丰科技 公告编号：2026-002 四川华丰科技股份有限公司 关于开展远期结售汇业务的公告 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： 已履行的审议程序：四川华丰科技股份有限公司（以下简称"公司"） 于 2026 年 1 月 30 日召开第二届董事会第十九次会议，审议通过了《关于审 议公司 2026 年外汇交易额度、框架策略 ...

申万宏源证券承销保荐有限责任公司 关于四川华丰科技股份有限公司 开展远期结售汇业务的核查意见 申万宏源证券承销保荐有限责任公司(以下简称"申万宏源"或"保荐机构") 作为四川华丰科技股份有限公司(以下简称"华丰科技"或"公司")的保荐机构和 主承销商,根据《证券发行上市保荐业务管理办法》《上海证券交易所科创板上市公 司自律监管指引第1号 -- 规范运作》《上海证券交易所科创板股票上市规则》《科创 板上市公司持续监管办法(试行)》等有关规定,对华丰科技2026年开展远期结售汇 业务的事项进行了审慎核查。核查的具体情况及核查意见如下: 一、开展远期结售汇业务概述 (一) 交易目的 为了规避汇率波动对公司造成的不利影响,提高外汇资金的使用效率。基于公司 外汇业务实际情况,拟与银行开展远期结售汇业务。 (二) 交易金额 公司2026年度拟开展远期结售汇业务的金额不超过150万美元及30万欧元,在决议 有效期内可以滚动使用。有效期内任一时点的交易金额不超过前述最高额度。 (三) 资金来源 公司开展远期结售汇业务资金来源为自有资金,不涉及借贷资金、募集资金。 (四) 交易方式 公司拟开展的外汇套期保值业务为远期结售汇。远 ...

Core Viewpoint - Sichuan Huafeng Technology Co., Ltd., a subsidiary of Changhong Holding Group, expects to achieve a net profit attributable to shareholders of 338 million to 388 million yuan in 2025, marking an increase of 356 million to 406 million yuan compared to the previous year, successfully turning losses into profits [1] Group 1 - The company anticipates a net profit excluding non-recurring items of 302 million to 352 million yuan, a year-on-year increase of 380 million to 430 million yuan, also achieving profitability [1] - The primary reason for the performance change is the integration of artificial intelligence, cloud computing, and big data technologies, which has driven a surge in data center construction, thereby increasing demand for key equipment such as switches, AI servers, and core routers [1] - Huafeng Technology has long been engaged in the research, production, and sales of optical and electrical connectors and cable components, providing system solutions for clients across various industries [1] Group 2 - The company has mastered core connector technologies with independent intellectual property rights, supplying numerous supporting products to China's telecommunications and industrial sectors [1] - Huafeng Technology is actively positioning itself in the commercial satellite and deep space exploration connector fields, aligning with national policies on commercial aerospace development [1] - The self-developed JHD series high-speed connectors for satellites can support 100G link transmission for satellite payloads, showcasing the company's advanced technical capabilities [1] Group 3 - In the high-speed module/connector product segment, the company has initiated or advanced project collaborations with major manufacturers such as Huawei, Inspur, and ZTE, as well as internet application clients like Alibaba and Tencent [2] - Regarding CPU-related business, the company's CPU SOCKET products are currently in the product validation and small batch stage, with revenue expected to gradually increase starting this year [2]

Market Performance - A-shares exhibited polarized performance on January 29, with the Shanghai Composite Index experiencing slight fluctuations, while the ChiNext Index fell back after a peak, and the STAR 50 Index dropped over 3% [1] - The Shanghai Composite Index closed up 0.16% at 4157.98 points, while the Shenzhen Component Index fell 0.3% to 14300.08 points, and the ChiNext Index decreased by 0.57% to 3304.51 points [1] - The total trading volume in Shanghai and Shenzhen reached 32,594 billion yuan, an increase of 2,671 billion yuan from the previous day, with over 3,500 stocks declining [1] Sector Performance - The non-ferrous metals sector was notably active, with copper and precious metals leading the gains; stocks like Western Gold and China Gold saw significant price increases [1] - Oil and gas stocks maintained strong performance, with Intercontinental Oil and other companies achieving multiple consecutive gains [1] - The real estate sector showed signs of recovery, with stocks such as Dayue City and I Love My Home hitting the daily limit [1] Specific Stock Movements - The liquor sector saw a rise in stocks like Luzhou Laojiao and Water Well, which reached their daily limit [2] - The insurance sector strengthened, with New China Life Insurance rising over 3% to reach a historical high, and China Pacific Insurance increasing nearly 5% [2] - In contrast, technology-related stocks, including those in the semiconductor sector, collectively weakened, with Industrial Fulian experiencing a drop of over 6% following its earnings forecast [2] Analyst Insights - Zheshang Securities suggests that the market will continue to favor mid-cap growth stocks, focusing on cyclical sectors [6] - CITIC Securities highlights the increasing urgency for European defense expansion and anticipates accelerated infrastructure investment plans, which may lead to a rise in sovereign bond issuance [6] - The report indicates that the divergence between the US and Europe is becoming more pronounced, creating a potential window for pragmatic cooperation between China and Europe [6]

Group 1 - The A-share market experienced a collective pullback in the commercial aerospace sector, with several companies hitting their daily limit down [1] - Notable declines included Beihua Co. and Torch Electronics, which both reached the daily limit down, while Hongyuan Electronics, Tongda Co., and Kunheng Shunwei fell over 8% [1] - Other companies such as Gaode Infrared and Shunhao Co. dropped more than 7%, and Jiuding New Materials, BaoTi Co., Tengjing Technology, Changying Tong, Qianzhao Optoelectronics, Changguang Huaxin, and Huafeng Technology saw declines exceeding 6% [1]

CPO等 算力硬件股震荡走低， 奕东电子跌超9%， 生益科技跌超6%， 工业富联、 四会富仕跌超5%， 华丰科技、 长光华芯跟跌。 ...