截至2026年1月30日收盘，希荻微(688173)报收于16.85元，下跌1.46%，换手率2.62%，成交量10.71万 手，成交额1.81亿元。 业绩预告 希荻微发布业绩预告，预计2025年全年扣非后净利润亏损1.06亿元至1.51亿元；预计2025年全年归属净 利润亏损1.02亿元至1.47亿元。 公司公告汇总 希荻微2025年年度业绩预告 希荻微电子集团股份有限公司预计2025年年度归属于母公司所有者的净利润为-10,200.00万元 到-14,700.00万元，较上年同期亏损减少49%到65%；扣除非经常性损益后的净利润为-10,600.00万元 到-15,100.00万元，同比减亏50%到65%。业绩改善主要得益于消费电子市场回暖，终端需求上升，营业 收入显著增长，尤其是音圈马达驱动芯片产品线和新增传感器芯片产品线带动营收提升。公司毛利润增 加，资产减值准备计提金额较去年同期减少。 当日关注点 交易信息汇总 资金流向 1月30日主力资金净流出559.85万元，占总成交额3.1%；游资资金净流入1098.1万元，占总成交额 6.08%；散户资金净流出538.25万元，占总成交额2.98%。 业绩披 ...

随着消费电子市场逐步回暖，终端客户需求较去年同期有所上升，公司的营业收入较上年同期实现显著 增长，其中音圈马达驱动芯片产品线(即智能视觉感知业务)部分产品逐步实现自主委外生产，使得该产 品线的营收规模明显增长;此外，公司2024年8月末新增的传感器芯片产品线对公司本报告期的营收增长 亦有所贡献。报告期内，随着公司总体业务规模的扩大，产品矩阵日益丰富，以及公司对上游供应链的 有效整合，公司毛利润较去年同期有所增加。同时，随着市场逐步回暖，市场需求趋于稳定，存货的减 值风险得到有效缓释，本报告期计提资产减值准备金额较去年同期有所减少。截至本公告披露日，相关 资产减值测试尚在进行中，最终计提减值的金额以会计师事务所审计确认为准。 希荻微(688173.SH)发布2025年年度业绩预告，预计2025年年度实现归属于母公司所有者的净利润为人 民币-10,200万元到-14,700万元，与上年同期(法定披露数据)相比，亏损将减少人民币14,359.73万元到 18,859.73万元，同比减亏49%到65%。 ...

随着消费电子市场逐步回暖，终端客户需求较去年同期有所上升，公司的营业收入较上年同期实现显著 增长，其中音圈马达驱动芯片产品线(即智能视觉感知业务)部分产品逐步实现自主委外生产，使得该产 品线的营收规模明显增长;此外，公司2024年8月末新增的传感器芯片产品线对公司本报告期的营收增长 亦有所贡献。报告期内，随着公司总体业务规模的扩大，产品矩阵日益丰富，以及公司对上游供应链的 有效整合，公司毛利润较去年同期有所增加。同时，随着市场逐步回暖，市场需求趋于稳定，存货的减 值风险得到有效缓释，本报告期计提资产减值准备金额较去年同期有所减少。截至本公告披露日，相关 资产减值测试尚在进行中，最终计提减值的金额以会计师事务所审计确认为准。 智通财经APP讯，希荻微(688173.SH)发布2025年年度业绩预告，预计2025年年度实现归属于母公司所 有者的净利润为人民币-10,200万元到-14,700万元，与上年同期(法定披露数据)相比，亏损将减少人民币 14,359.73万元到18,859.73万元，同比减亏49%到65%。 ...

随着消费电子市场逐步回暖，终端客户需求较去年同期有所上升，公司的营业收入较上年同期实现显著 增长，其中音圈马达驱动芯片产品线（即智能视觉感知业务）部分产品逐步实现自主委外生产，使得该 产品线的营收规模明显增长；此外，公司2024年8月末新增的传感器芯片产品线对公司本报告期的营收 增长亦有所贡献。报告期内，随着公司总体业务规模的扩大，产品矩阵日益丰富，以及公司对上游供应 链的有效整合，公司毛利润较去年同期有所增加。同时，随着市场逐步回暖，市场需求趋于稳定，存货 的减值风险得到有效缓释，本报告期计提资产减值准备金额较去年同期有所减少。截至本公告披露日， 相关资产减值测试尚在进行中，最终计提减值的金额以会计师事务所审计确认为准。 格隆汇1月30日丨希荻微(688173.SH)公布，经财务部初步测算，预计2025年年度实现归属于母公司所有 者的净利润为人民币-10,200.00万元到-14,700.00万元，与上年同期（法定披露数据）相比，亏损将减少 人民币14,359.73万元到18,859.73万元，同比减亏49%到65%；预计归属于母公司所有者的扣除非经常性 损益后的净利润为人民币-10,600.00万元到-1 ...

Core Insights - The company reported Q3 2025 revenue of $2.38 billion, a year-on-year increase of 9.7% and a quarter-on-quarter increase of 7.8%, aligning closely with the consensus estimate of $2.35 billion [1] - The company’s production capacity increased by 32,000 wafers to 1.023 million equivalent 8-inch wafers, with a capacity utilization rate of 95.8%, up 3.3 percentage points from the previous quarter [1] - The average selling price (ASP) of wafers reached $913, down 5.5% year-on-year but up 4.4% quarter-on-quarter [1] Financial Performance - The gross margin for the quarter was 22.0%, an increase of 1.6 percentage points from the previous quarter [1] - Net profit attributable to shareholders grew by 28.9% year-on-year to $190 million, with earnings per share of $0.02 [1] - The company guided for Q4 2025 revenue growth of 0%-2%, projecting revenue between $2.38 billion and $2.43 billion, with a gross margin expected to be between 18%-20% [1] Market Demand and Trends - The consumer electronics market is showing signs of recovery, with AI demand expected to grow over 10% in FY 2025 [1] - Revenue from 8-inch and 12-inch wafers increased by 2.7% and 8.9% quarter-on-quarter, respectively, with total wafer shipments rising by 4.6% to 2.499 million wafers [1] - Consumer electronics revenue increased by 19.4% quarter-on-quarter, driven by increased market share from domestic customers and rising export demand [1] Capital Expenditure and Future Outlook - Q3 capital expenditure rose by 27.0% quarter-on-quarter to $2.39 billion, primarily due to the recovery of equipment shipments affected by geopolitical factors [2] - The company plans to gradually expand production capacity, adding an average of 50,000 pieces of 12-inch wafer monthly capacity each year, with demand driven by AI, automotive, and AloT products [2] - The target price is set at HKD 90.00, with a buy rating, reflecting a projected 21.63% upside from the current stock price [2]

Core Viewpoint - The company reported significant growth in revenue and net profit for the first three quarters, driven by a recovery in consumer electronics demand and technological upgrades [1] Financial Performance - The company achieved a revenue of 4.617 billion yuan, representing a year-on-year increase of 29.95% [1] - The net profit attributable to shareholders was 286 million yuan, showing a year-on-year growth of 119.36% [1] Market Drivers - Growth in revenue and profitability was primarily supported by the recovery in the consumer electronics market and increased demand for electromagnetic shielding and thermal management materials [1] - New projects from key clients contributed to the revenue increase in the consumer electronics sector [1] Business Expansion - The company is steadily expanding its AI server cooling business in the telecommunications sector [1] - Continuous release of orders for designated projects in the new energy vehicle sector has been noted, along with improved capacity utilization and scale effects [1] Product Development - The company is progressing with its smart hand-related business, with products currently undergoing certification with domestic clients and in the sampling and testing phase [1]

Core Viewpoint - Feirongda (300602) anticipates significant growth in revenue and net profit for the first three quarters of 2025, driven by a recovery in the consumer electronics market and increased demand for electromagnetic shielding and thermal management materials [1] Financial Performance - The company expects to achieve approximately 4.617 billion yuan in revenue for the first three quarters of 2025, representing a year-on-year increase of about 29.95% [1] - Projected net profit for the same period is estimated to be between 275 million yuan and 300 million yuan, indicating a year-on-year growth of 110.8% to 129.96% [1] Market Dynamics - The demand and usage of terminal products related to electromagnetic shielding and thermal management materials have significantly increased due to a recovery in the consumer electronics market and technological upgrades [1] - The launch of new projects by key clients has further contributed to the growth of the company's market share in the consumer electronics sector [1]

Group 1 - The company expects a significant increase in net profit attributable to shareholders, projecting a growth of 92% to 122% for the first half of 2025, with estimated profits between 64 million and 74 million yuan compared to 33.27 million yuan in the same period last year [1][2] - The net profit after deducting non-recurring gains and losses is expected to grow by 44% to 76%, with estimated profits between 43.76 million and 53.76 million yuan, up from 30.49 million yuan in the previous year [1][2] - The anticipated operating revenue for the first half of 2025 is 1.507 billion yuan, representing a year-on-year increase of 60.64% [2] Group 2 - The performance improvement is attributed to a recovery in demand in the consumer electronics market, leading to increased operating revenue and net profit [2] - The company has successfully achieved mass production of new products, including cleaning robots, smart security systems, and energy storage systems, contributing to additional revenue and profit [2] - Non-recurring gains and losses are expected to impact net profit by approximately 2.02437 million yuan, primarily from government subsidies [3] Group 3 - In 2024, the company reported an operating revenue of 2.213 billion yuan, a year-on-year increase of 16.26%, while the net profit attributable to shareholders decreased by 40.45% to 76.69 million yuan [4] - The net profit after deducting non-recurring gains and losses for 2024 was 73.85 million yuan, reflecting a decline of 32.95% compared to the previous year [4] - The basic earnings per share for 2024 were reported at 0.29 yuan [4] Group 4 - The company, established on July 15, 2009, is located in the industrial park of Anfu County, Ji'an City, Jiangxi Province, and specializes in customized design and production of electronic signal transmission products and other consumer electronics [6]

Core Viewpoint - Haineng Industrial (300787) expects a significant increase in net profit for the first half of 2025, driven by a recovery in consumer electronics demand and the ramp-up of new product production [1] Financial Performance - The net profit attributable to shareholders is projected to be between 64 million and 74 million yuan, representing a growth of 92% to 122% compared to the same period last year, which was 33.27 million yuan [1] - The net profit after deducting non-recurring gains and losses is expected to be between 43.76 million and 53.76 million yuan, an increase of 44% to 76% from the previous year's 30.49 million yuan [1] Market Factors - The primary reasons for the profit increase include a recovery in the consumer electronics market and the gradual mass production of the company's new products [1]

Group 1 - The company reported Q1 2025 revenue of 889 million yuan, a year-on-year increase of 27.65% [1] - The net profit attributable to shareholders reached 50 million yuan, up 59.06% year-on-year [1] - The net profit after deducting non-recurring gains and losses was 46 million yuan, reflecting a 53.96% year-on-year growth [1] - The net cash flow from operating activities was 220 million yuan, showing a significant increase of 2,629.51% year-on-year [1] Group 2 - Total expenses for Q1 2025 amounted to 122 million yuan, an increase of 35 million yuan year-on-year, with an expense ratio of 13.69%, up 1.24 percentage points [2] - Research and development expenses were 60.47 million yuan, a year-on-year increase of 32.97%, with a research and development expense ratio of 6.81%, up 0.27 percentage points [2] - The company maintained strong cash flow, with cash received from sales of goods and services reaching 961 million yuan, a 62.76% increase year-on-year, and a cash collection ratio of 108.20% of revenue, up 23.34 percentage points [2] Group 3 - The company is positioned as a leader in the domestic power supply market, benefiting from the growth in high-power server power supply and the recovery of the consumer electronics market [3] - Projected revenues for 2025-2027 are 4.644 billion yuan, 5.454 billion yuan, and 6.313 billion yuan, with net profits of 324 million yuan, 450 million yuan, and 520 million yuan respectively [3] - Corresponding price-to-earnings ratios are expected to be 33.72, 24.25, and 20.98 times for the years 2025, 2026, and 2027 [3]