1月6日，首创环保(600008)微涨0.33%，最新收盘价3.05元/股，最新A股市值为223.89亿元，是水务及水 治理行业市值最大的公司。公司2025年前三季度营收达到134.53亿元，同样排在行业第1位。 据2025年半年报，首创环保是北京市国资委下属上市企业，业务遍布全国170个地级市，拥有水务、固 废、大气综合治理700多个项目。公司水处理能力达到2735.26万吨/日，位居国内环保行业前列，固废 处理能力达到1498万吨/年。 从二级市场表现来看，在A股市场行情持续回暖的背景下，首创环保股价走势显得有些平淡。据数据宝 统计，截至1月6日收盘，首创环保2025年以来累计下跌1.88%，大幅跑输同期上证指数，也低于所属的 水务及水治理板块涨幅。 究其原因，公司业绩下滑或是重要因素之一。2025年前三季度，首创环保实现净利润14.34亿元，同比 下滑55.96%，主要是上一年同期处置新加坡ECO公司确认大额投资收益影响本报告期及年初至报告期 末同比减少所致。即便扣除非经常性损益因素，公司2025年前三季度扣非净利润为13.73亿元，同比增 长0.3%，扣非净利润增速降至近7年同期最低水平，反映出公司主 ...

财务数据显示，振东制药的业绩已经连续三年处于下滑和亏损状态。2022年至2024年，公司营收分别为37.29亿元、36.26亿元和29.71亿元，持续下滑，归 母净利润连续三年亏损，累计亏损额达14.2亿元。去年前三季度，公司营收22.1亿元，同比下滑2.4%；归母净利润2036万元，同比大降49.2%。 对于业绩下滑，振东制药曾解释称，与朗迪制药的重大仲裁事项导致大额赔付、部分信托产品逾期兑付带来的资产减值，以及行业政策与市场环境变动导 致部分产品销量或价格下滑。 朗迪公司曾是振东制药的子公司。2016年，振东制药以约26.46亿元的价格收购了朗迪，五年后以58亿元的价格将其出售，净赚32亿元差价。然而，2023 年朗迪制药因生产劣质药品被罚1.4亿元，其中29批次不合格产品由振东制药代工生产。这起事件引发了仲裁纠纷。 去年，振东制药已有多位高管发生变动。去年4月21日，振东制药公告，刘永森不再担任财务总监，詹建勇接任。去年12月18日，振东制药公告，因达到 法定退休年龄，杨连民不再担任总裁及非独立董事。 2024年4月，振东制药实控人李安平因违规被深交所给予处分，公开认定李安平三年不适合担任上市公司董事、 ...

申洲国际(02313)跌超3%，截至发稿，跌3.02%，报61.05港元，成交额1.23亿港元。 消息面上，申洲国际主要客户耐克于周四盘后发布2026财年第二季度业绩报告，股价重挫超10%。报告 显示，尽管营收与盈利均超出市场预期，但受利润率下滑及直销业务持续承压影响，其净利润同比出现 下滑。该公司期内净利润同比下降32%，由上年同期的11.6亿美元降至7.92亿美元。此外，其在大中华 区的营收同比下降17%至17亿美元，息税前利润更大幅缩水49%。 花旗近期研报指出，将申洲国际2025至27年盈利预测下调2%，目标价相应由95港元降至94港元，维 持"买入"评级，并认为股价下跌或反映管理层对销量展望较为保守，反而提供买入机会，因2026财年预 期股息率达4.8%，且未来3年每股盈利年均复合增长率达12%。 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：证券之星 上一轮减持刚结束，海川智能（300720.SZ）两大股东再抛新减持计划。公司股东吴桂芳、郑雪芬因个 人资金需求，计划减持公司股份。若按上限实施减持，郑雪芬将清仓离场。 证券之星注意到，上述两位股东均为公司前实控人家族成员。此前，海川智能前实控人郑锦康以9.99亿 元的交易对价转让其控股权，公司随之易主。自2021年以来，前实控人家族通过多次减持，累计套现金 额已高达15.51亿元。 目前，公司正面临营利双降的困境。受计量设备业务表现不佳影响，公司前三季度整体营收有所下降。 同时，期间费用增长、投资收益减少以及资产减值损失增加也在进一步压缩其利润空间。新任董事长能 否带领公司走出当前困境，尚待观察。 01． 易主后，前实控人家族成员欲清仓离场 公告显示，海川智能股东吴桂芳和郑雪芬计划自本减持公告之日起15个交易日之后的3个月内，通过集 中竞价交易方式或大宗交易方式分别减持公司股份数量合计不超过584.63万股、581.59万股，减持比例 为3%、2.98%。 本次减持前，吴桂芳和郑雪芬持股比例分别为3%、2.98%。这意味 ...

Core Viewpoint - The company Shenzhen Xinguodu Co., Ltd. (New Guodu) has submitted a prospectus to the Hong Kong Stock Exchange for an H-share IPO, aiming to accelerate overseas business expansion and establish an international capital operation platform [1][3]. Financial Performance - New Guodu has experienced a continuous decline in performance, with 2024 revenue at 3.148 billion yuan, down 17.20% year-on-year, and net profit at 234 million yuan, down 68.98% year-on-year [4]. - The significant drop in net profit for 2024 is attributed to tax adjustments affecting the subsidiary Jialian Payment, with an estimated impact of 325 million yuan on net profit [5]. - In the first half of 2025, revenue and net profit continued to decline, with revenue at 1.527 billion yuan, down 3.17% year-on-year, and net profit at 275 million yuan, down 38.61% year-on-year [5]. - The third-quarter report for 2025 showed revenue of 2.343 billion yuan, down 4.15% year-on-year, but net profit increased by 37.1% due to significant contributions from non-recurring gains [6]. Regulatory Challenges - Jialian Payment, the subsidiary of New Guodu, has faced multiple penalties for compliance issues, which pose a significant obstacle to the IPO process [7][8]. - The company has been penalized for various violations, including failure to comply with customer identity verification and improper management of merchant accounts [7][8]. - New Guodu's compliance system is under scrutiny, raising questions about its ability to meet both domestic and international regulatory standards [9]. Market Conditions - The payment industry is currently facing stringent regulations, declining fee rates, and intensified competition, which are impacting New Guodu's core business growth [6][9]. - The company's efforts to expand into new areas such as cross-border payments and value-added services have not yet yielded significant results, leading to concerns about the sustainability of any potential recovery in performance [6][9]. Strategic Considerations - The IPO in Hong Kong is seen as a critical step for New Guodu's global strategy, but it must overcome challenges related to performance, corporate governance, and regulatory compliance [10]. - There is a need for the company to optimize its revenue structure and enhance transparency in its operations to address market concerns and meet regulatory requirements [10].

Core Points - The chairman of China First Heavy Industries, Lu Wenjun, has been arrested for bribery after being expelled from the party, marking a significant development in the company's governance issues [1][2][4] - Under Lu's leadership since April 2022, the company has reported a cumulative net loss of 63.4 billion yuan, with ongoing financial struggles [5][6] - The company is attempting to turn around its financial situation by divesting non-core assets and focusing on its main business operations, but has yet to achieve profitability [7][8] Financial Performance - In 2022, China First Heavy Industries achieved a revenue of 23.886 billion yuan, a year-on-year increase of 3.28%, but the net profit attributable to shareholders was only 104 million yuan, down 38.28% [4] - The company reported revenues of 17.167 billion yuan and 16.617 billion yuan in 2023 and 2024, respectively, with significant declines in net profit, leading to cumulative losses of 64.44 billion yuan over two years [4][8] - For the first three quarters of 2025, the company reported revenues of 6.530 billion yuan, a year-on-year decrease of 51.99%, and a net loss of 78.5995 million yuan, although the losses have narrowed compared to the previous year [7][8] Debt and Asset Management - As of the end of the third quarter of 2025, the company's asset-liability ratio reached 82.54%, remaining above 82% for four consecutive quarters, indicating a high level of financial leverage [9] - The company is actively seeking to improve its financial position by divesting from non-core businesses and focusing on enhancing its manufacturing capabilities [7][9]

Core Viewpoint - The recent share reduction plans by the chairman and executives of Yonghui Supermarket reflect the company's ongoing financial struggles, highlighted by significant revenue declines and increased net losses in recent quarters [2][3]. Group 1: Share Reduction Plans - Yonghui Supermarket announced that Chairman Zhang Xuansong and his associates plan to reduce their holdings by up to 90.75 million shares, representing no more than 1% of the total share capital, due to personal funding needs [2]. - The reduction period is set from December 4, 2025, to March 3, 2026, with the selling price to be determined based on market conditions [2]. - Prior to this announcement, Vice President Luo Wenxia completed a share reduction of 10.87 million shares on November 7, 2025, at a price of 4.59 yuan per share, totaling approximately 0.0012% of the company's total share capital [2]. Group 2: Financial Performance - In the first three quarters of the year, Yonghui Supermarket reported a revenue of 42.434 billion yuan, a year-on-year decline of 22.21% [3]. - The company experienced a net loss attributable to shareholders of approximately 710 million yuan, which is more than eight times the loss of 77.87 million yuan reported in the same period last year [3]. - The decline in net profit is attributed to decreased revenue and a drop in gross margin, primarily due to store adjustments and the optimization of product structure and procurement strategies [3]. Group 3: Store Closures and Adjustments - As of the end of the third quarter, Yonghui Supermarket had closed a total of 325 stores, with 102 closures occurring in the third quarter alone, while only 2 new stores were opened [3]. - The company aims to reduce its total number of stores to 1,000 by the end of 2023 and further down to 775 by the end of 2024 [3]. - Despite the closures, same-store sales have shown positive growth after focusing on optimizing existing stores and core adjustments [3].

天风证券指出，中国中冶年初至今业绩下滑主要受 钢铁行业需求持续下降、建筑行业增长乏力、地产 行业深度调整等外部影响，加之公司自身转型升级带来的业务结构调整等阶段性因素影响，上年结转的 未完合同及新签合同额同比减少，合同收入转化率放缓。 智通财经APP获悉，中国中冶(01618)跌超3%，截至发稿，跌2.58%，报2.27港元，成交额4158.62万港 元。 消息面上，近日，中国中冶发布前三季度业绩，实现营业收入3350.94亿元，同比减少18.79%；归属于 上市公司股东的净利润39.7亿元，同比减少41.88%。基本每股收益0.13元。公司2025年前三季度累计新 签合同额人民币7606.7亿元，较上年同期减少14.7%。其中，新签海外合同额人民币669.0亿元，较上年 同期增长10.1%。 ...

Core Viewpoint - Gujinggong Liquor reported a decline in revenue and net profit for the first three quarters of the year, indicating potential challenges in the company's financial performance [1] Financial Performance - Revenue for the first three quarters was 16.425 billion, a year-on-year decrease of 13.87% [1] - Net profit attributable to shareholders was 3.960 billion, down 16.57% year-on-year [1] - In the third quarter of 2025, revenue was 2.545 billion, reflecting a significant year-on-year decline of 51.65% [1] - Net profit for the third quarter was 299 million, a sharp decrease of 74.56% year-on-year [1]

Core Viewpoint - Shanghai Yashi (603329) reported a significant decline in both revenue and net profit for the third quarter of 2025, primarily due to the overall market conditions affecting its business margins and increased financial expenses [1] Financial Performance - The company's third-quarter revenue was 540 million yuan, representing a year-on-year decrease of 69.23% [1] - The net profit for the third quarter was 5.52 million yuan, down 69.64% year-on-year [1] - For the first three quarters of 2025, total revenue reached 2.584 billion yuan, a decline of 15.54% compared to the same period last year [1] - The net profit for the first three quarters was 25.842 million yuan, reflecting a year-on-year decrease of 20.31% [1] Business Challenges - The decline in net profit is attributed to reduced gross margins in some business segments due to market conditions [1] - Increased financial expenses have also contributed to the overall decrease in profitability [1]