格隆汇2月27日丨威雅利(00854.HK)公布截至2025年12月31日止年度全年业绩。由于集团除照明以外所 有分部于截至2025年12月31日止年度的销售额均高于上一财政年度的收益1,828.9百万港元，因此集团之 收益增加28.9%至2,358.3百万港元。 截至2025年12月31日止年度(「2025财年」)，集团录得公司拥有人应占溢利为5100万港元，而截至2024 年12月31日止九个月(「上一财政年度」)则为应占净亏损6160万港元。集团于2025财年财务表现显着改 善，主要归因于：(i)2025财年毛利率较2024年上一财政年度普遍改善，主要由于引入高毛利产品线及规 模化发展，透过新型贸易模式开拓高利润客户群，以及因2025财年卓越营运表现而获得供应商增加激励 措施；(ii)相较于2024年上一财政年度为滞销存货计提的存货拨备，2025财年录得存货拨备拨回净额； 及(iii)2025财年集团部分应收款项录得减值拨回净额所致。 ...

科捷智能公告，2025年度营业总收入22.86亿元，同比增长64.03%；净利润3177.33万元，上年同期 为-5862.68万元。报告期内，得益于公司在市场拓展、业务结构、盈利质量及运营效率等方面的系统性 提升，公司新签订单约32.07亿元，同比增加约66.17%；业绩实现扭亏为盈且盈利增长势头强劲，收入 结构与盈利质量同步优化，公司毛利率显著提升，彰显复杂环境中的战略定力与经营韧性。 ...

报告期内，公司锚定主责主业战略方向，凭借长期积累的竞争优势和优质的客户资源，积极优化业务结 构与产品矩阵，以优质项目为主线持续深耕细作，稳步推进在手项目实施，营业收入实现同比增长；同 时，公司积极贯彻落实"提质增效重回报"行动方案，通过采取降本增效、费用管控等举措，期间费用实 现同比下降；报告期内，公司非经常性损益实现同比增长，主要包括因前沿科研活动取得财政资金拨 付、通过提高现金管理效率获得投资收益以及或有事项冲回部分预计负债等。上述因素对本期经营业绩 构成正向影响，实现扭亏为盈。 格隆汇2月27日丨复洁科技(688335.SH)公布2025年度业绩快报，报告期内，公司实现营业总收入3.41亿 元，较上年同期增长82.35%；实现归属于母公司所有者的净利润1104.39万元，较上年同期增加6142.56 万元，实现扭亏为盈；实现归属于母公司所有者的扣除非经常性损益的净利润-761.77万元，较上年同 期增加5224.85万元。 ...

中复神鹰发布业绩快报，2025年度公司实现营业收入21.95亿元，同比增长40.97%；净利润9665.82万 元，上年同期亏损1.24亿元。2025年度，公司业绩实现扭亏为盈，主要得益于三大驱动力：一是市场 端，通过优化产品结构，拓展航空航天、风电、高端体育及压力容器等应用领域，实现销售收入与盈利 能力的显著增长。二是生产端，聚焦技术驱动的降本增效，依托规模化生产与工艺优化，有效降低了单 位生产成本。三是管理端，以管理精细化挖潜增效，实现了费用的有效控制，进一步夯实了盈利基础。 ...

Financial Data Summary - The company reported preliminary financial data for the year 2025, with total revenue of 964,572.74 million RMB, representing a year-on-year increase of 47.89% [2] - The total profit reached 8,656.61 million RMB, an increase of 37,035.03 million RMB compared to the previous year [2] - The net profit attributable to the parent company was 5,912.49 million RMB, up by 29,795.60 million RMB year-on-year [2] - The net profit attributable to the parent company after deducting non-recurring gains and losses was 1,128.23 million RMB, an increase of 29,547.72 million RMB [2] Financial Position - As of the end of the reporting period, total assets amounted to 1,479,151.47 million RMB, reflecting a growth of 13.39% from the beginning of the period [3] - The equity attributable to the parent company was 694,206.46 million RMB, showing a slight increase of 0.58% [3] - The net asset value per share attributable to the parent company was 16.29 RMB, which is a 0.59% increase [3] Operational Performance Factors - The company focused on its annual development strategy and operational goals, enhancing its core copper foil business through quality improvement, R&D innovation, and cost reduction, leading to a turnaround from loss to profit [4] - The significant increase in revenue was attributed to the recovery of downstream market demand, allowing the company to capitalize on market opportunities and achieve substantial growth in copper foil product sales [5] - The company expanded its product matrix based on customer demand, increasing the proportion of high-value-added products, which contributed to rising average processing fees and improved gross margins [5] - Enhanced production capacity utilization and ongoing cost reduction efforts positively impacted overall profitability [5][6]

Core Viewpoint - The company reported significant growth in revenue and profit for the fiscal year 2025, indicating a successful turnaround in its financial performance [1] Financial Performance - The company achieved operating revenue of 964,572.74 million yuan, representing a year-on-year increase of 47.89% [1] - The total profit reached 8,656.61 million yuan, an increase of 37,035.03 million yuan compared to the previous year [1] - The net profit attributable to the parent company's shareholders was 5,912.49 million yuan, up by 29,795.60 million yuan year-on-year [1] - The net profit attributable to the parent company after deducting non-recurring gains and losses was 1,128.23 million yuan, reflecting a year-on-year increase of 29,547.72 million yuan [1] Strategic Focus - In 2025, the company focused on its annual development strategy and operational goals, emphasizing its core business in copper foil [1] - The company undertook initiatives in quality improvement, research and development innovation, and cost reduction to enhance operational efficiency [1] - These efforts contributed to the company's successful turnaround from losses to profitability [1]

每经记者｜文多 每经编辑｜黄博文 因一场关键诉讼的终审胜诉并收到约1.9亿元执行款，明新旭腾（SH605068，股价28.12元，市值45.61 亿元）2025年的业绩预告上演"大反转"。 2月24日盘后，明新旭腾发布2025年年度业绩预告修正公告，将一个月前预计的2025年归母净利润亏损 超9000万元，向上修正为预计盈利超1200万元，实现扭亏为盈。这一戏剧性变化源于公司在与浙江国利 汽车部件有限公司（以下简称"浙江国利"）、上海国利汽车真皮饰件有限公司（以下简称"上海国利"） 的合同纠纷案中二审胜诉，并已在2月中旬收到大部分款项。 然而，这笔从天而降的"诉讼红包"并未能完全掩盖公司主营业务面临的压力。修正公告同时显示，扣除 非经常性损益后的归母净利润亏损额并未改变，依然预计亏损超1.15亿元。这意味着，这场诉讼带来的 盈利具有"偶然性"，公司核心业务的盈利能力仍面临挑战。 终审胜诉，获赔1.9亿元 对明新旭腾而言，2025年的年度业绩在最近一个月经历了冰火两重天。 2026年2月24日盘后，公司发布2025年年度业绩预告修正公告。据该公告，公司预计2025年度实现归母 净利润1200万元至1800万元， ...

Core Viewpoint - Hangzhou Haoyue Enterprise Management Co., Ltd., a major shareholder of Qianfang Technology, plans to reduce its stake by up to 23.65 million shares, representing 1.5% of the company's total share capital, between March 16, 2026, and June 15, 2026 [1][2]. Shareholder Information - Hangzhou Haoyue holds 222,993,866 shares, accounting for 14.14% of Qianfang Technology's total shares [2]. - The planned reduction includes a maximum of 15,767,131 shares through centralized bidding and up to 7,883,566 shares through block trading [2][3]. Financial Performance - Qianfang Technology expects a net profit attributable to shareholders of 250 million to 320 million yuan for the year 2025, representing a year-on-year increase of 120.96% to 126.83% [3][4]. - The company anticipates a net profit of 80 million to 115 million yuan after deducting non-recurring gains and losses, reflecting a growth of 107.26% to 110.43% compared to the previous year [3][4]. Business Recovery - The main reasons for the company's turnaround to profitability include the recovery of core business growth, increased revenue, a significant decrease in asset impairment losses, and positive impacts from non-recurring gains [5]. - Revenue in the smart IoT and intelligent transportation sectors has gradually recovered, supported by improved cost control and operational efficiency [5].

Core Viewpoint - Deep Tianma A is actively managing its market value through a valuation enhancement plan and share buyback, with a commitment from the controlling shareholder not to reduce holdings. The company forecasts a net profit of 150 million to 180 million yuan for 2025, indicating a turnaround, with revenue expected to exceed 36 billion yuan [1][3]. Group 1: Market Value Management - The company has launched a valuation enhancement plan and implemented a share buyback scheme, emphasizing the importance of market value management [2]. - The controlling shareholder has committed to not reducing their shareholdings, which is expected to bolster market confidence [2]. - The company plans to continue these measures into 2026, focusing on improving operational standards, enhancing disclosure quality, and strengthening investor communication [2]. Group 2: Recent Performance - The company announced a profit forecast for 2025, expecting a net profit between 150 million and 180 million yuan, marking a return to profitability, with revenues projected to surpass 36 billion yuan [3]. - Investors are encouraged to monitor the upcoming annual report for 2025 and the company's outlook for 2026 [3]. Group 3: Business Development - Deep Tianma A maintains a leading position in global shipments in the automotive display sector, with sales in this segment growing approximately 24% year-on-year in the first three quarters of 2025 [4]. - The company acknowledges that intense market competition and pricing pressures may temporarily affect gross margins [4]. - Future growth areas include automotive electronics, new energy vehicle displays, and diversification in flexible AMOLED business for mid-size and wearable applications [4]. Group 4: Stock Performance - In early February 2026, the company's stock price experienced a consecutive decline, with significant holdings from funds such as Guotou Ruijin and CICC [5]. - The company may respond to market changes through investor communication or business developments, which could influence short-term market sentiment [5]. Group 5: Project Progress - The company is steadily advancing new projects and expanding into non-display business areas, such as Micro-LED and VR display technologies [6]. - These long-term initiatives are expected to contribute to business growth in the future, although attention should be paid to industry demand fluctuations and cost control effectiveness [6].

Performance Overview - The company expects a net profit attributable to shareholders of 80 million to 95 million yuan for 2025, indicating a turnaround from losses, primarily due to an increase in passenger car seat orders and a recovery in multiple seat business markets [2] Business Developments - The company's wholly-owned subsidiary has received a designated notification for passenger car seats from a leading domestic automotive enterprise, with the project being platform-based (including three models) and expected to start mass production in October 2026, with a total lifecycle value of approximately 2.3 billion yuan [3] - Additionally, the company has signed a significant contract for drone systems, with a total amount exceeding 100 million yuan [3] Capital Movements - The company plans to repurchase shares using its own funds, with an amount between 100 million to 200 million yuan, aimed at equity incentives or employee stock ownership plans, with a repurchase price not exceeding 60.52 yuan per share [4]