● 公司2025年度归属于母公司股东的扣除非经常性损益的净利润预计为人民币-100,200万元到-80,200万 元。 一、本期业绩预告情况 （一）业绩预告期间 证券简称：凯盛新能 证券代码：600876 编号:临2026-001号 凯盛新能源股份有限公司2025年度业绩预告 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、准确性和完整性承担个别及连带责任。 重要内容提示： ● 本期业绩预告适用于净利润为负值的情形。 ● 凯盛新能源股份有限公司（以下简称"公司"或"本公司"）2025年度归属于母公司股东的净利润预计为 人民币-90,000万元到-70,000万元。 （二）基本每股收益：-0.94元。 三、本期业绩变动的主要原因 2025年1月1日至2025年12月31日。 （二）业绩预告情况 1.经财务部门初步测算，预计2025年度实现归属于母公司股东的净利润与上年同期相比，将减少9,007万 元到29,007万元。 2.归属于母公司股东的扣除非经常性损益的净利润与上年同期相比，预计将减少16,047万元到36,047万 元。 （三）本期业绩预告未经注册会 ...

转自：法治日报 本报讯 记者黄辉 1月29日，江西省高级人民法院院长傅信平在江西省第十四届人民代表大会第四次会议 上作法院工作报告时说，2025年，江西法院聚焦新兴产业培育壮大，加强电子信息、装备制造、新能源 等重点产业原始创新成果、关键核心技术的司法保护，服务发展新质生产力。全省法院审结知识产权案 件12276件，同比增长51.87%，对其中29件恶意侵权情节严重的适用惩罚性赔偿。 傅信平说，江西法院 坚持围绕中心、服务大局，全力护航经济社会高质量发展。坚持以调解止纷争、促合作，对两家国内光 伏龙头企业涉案标的额达3.5亿元的专利权纠纷系列案，南昌市中级人民法院推动双方专利互授，实 现"一揽子解纷、竞争中合作"。加强商业秘密保护，联合省市场监管局等部门构建商业秘密保护协同联 动机制。某锂电新能源公司原高管李某在工作期间及离职后的竞业限制期限内，披露、使用技术秘密非 法牟利，九江市中级人民法院依法判处其有期徒刑，并适用从业禁止。妥善审理涉人工智能纠纷案件， 崔某利用AI"一键生成"图片并进行版权登记，向图片使用人主张侵权赔偿，鹰潭市月湖区人民法院分析 图片生成过程，认定不具备独创性，促进规范人工智能技术应用。 ...

Core Viewpoint - *ST Lingda is expected to turn profitable in 2025 due to successful completion of bankruptcy restructuring, with projected net profit between 20 million to 30 million yuan and operating revenue between 110 million to 129 million yuan [1][5] Group 1: Bankruptcy Restructuring - The bankruptcy restructuring of *ST Lingda was initiated due to its inability to repay debts, leading to a pre-restructuring application in July 2024 [2][3] - The restructuring process involved coordination between *ST Lingda and its subsidiary, Jinzhai Jiayue, with the court officially accepting their restructuring applications in November 2025 [3][4] - By December 31, 2025, the court concluded that both companies had met the requirements for the completion of their restructuring plans [3] Group 2: Business Operations and Financial Performance - *ST Lingda's main business is in the photovoltaic industry, focusing on solar cell manufacturing and operating solar power plants, with a recent expansion into EPC services [2] - The company faced significant challenges, including a decline in revenue to over 60 million yuan in 2024 and a high debt ratio of 153.77% [5] - Following restructuring, *ST Lingda anticipates recognizing restructuring gains of approximately 180 million to 200 million yuan in 2025, with expectations of positive net assets by year-end [5] Group 3: Strategic Partnerships and Future Prospects - Post-restructuring, industry investors Jinzhai Jinwei Semiconductor Materials and Zhejiang Zhongling Technology acquired a combined 20% stake in *ST Lingda, with Jinwei Semiconductor becoming the controlling shareholder [6] - The restructuring is expected to enhance *ST Lingda's operational capabilities and facilitate a strategic transformation by leveraging the resources and expertise of its new investors [6][7] - The company aims to improve its existing business operations and potentially introduce new high-precision materials to upgrade its main business [6][7]

Market Overview - The A-share market experienced a significant decline, with the Shanghai Composite Index breaking below the 5-day and 10-day moving averages, indicating increased bearish momentum [6] - A total of 2,449 stocks rose, while the decline-to-rise ratio was 59:61, reflecting a mixed market sentiment with localized recovery in profitability [7] - The main funds saw a net outflow of 4.868 billion yuan, indicating a shift in investor sentiment [8] Trading Volume and Sentiment - The total trading volume of the two markets was 0.84 trillion yuan, down 12.21%, showing a notable decrease in trading activity and a prevailing cautious sentiment among investors [9] - Institutional investors are primarily focusing on portfolio adjustments and structural optimization, moving away from defensive sectors to growth sectors like CPO, semiconductors, and agriculture [11] Investor Behavior - Retail investors are showing rational behavior, avoiding short-term volatility risks while selectively investing in quality stocks during sector rotations [11] - The sentiment among retail investors indicates a preference for strategic positioning rather than impulsive trading, with a notable portion of funds being allocated to high-potential sectors [11]

Group 1: Precious Metals - Gold and silver prices have significantly declined, with gold dropping over 7% to below $5000 and silver falling over 15% to below $100 [1] - Current prices for precious metals include London gold at $4994.769 (-7.11% YTD) and London silver at $98.344 (-15.12% YTD) [2] - Domestic futures for gold and silver also saw declines, with SHFE gold at 1132.52 CNY (-5.38% YTD) and SHFE silver at 25780 CNY (-13.83% YTD) [2] Group 2: U.S. Stock Market - Major U.S. stock indices experienced collective declines, with the Dow Jones down 0.36%, Nasdaq down 0.50%, and S&P 500 down 0.39% [3] - Specific sectors such as cruise lines, solar energy, and lithium battery stocks faced the largest drops, with the cruise index down 5.20% and the solar index down 4.62% [4] - The Nasdaq China Golden Dragon Index fell over 1%, indicating a broad decline in Chinese concept stocks [2] Group 3: Federal Reserve Leadership - President Trump nominated Kevin Walsh, a former Fed governor, as the next Federal Reserve Chair, raising concerns about monetary policy direction and Fed independence [4] - Walsh is known for his hawkish stance during his tenure but has shifted to support Trump's tariff policies and a quicker rate cut approach [4] - Market expectations for interest rate cuts by the Fed are projected to be between 50 to 100 basis points over the next year [4]

Core Viewpoint - GCL-Poly Energy Holdings Limited expects a significant net profit loss for the fiscal year 2025, projecting a loss between 890 million to 1.29 billion yuan, contrasting sharply with a profit of 68.29 million yuan in the same period last year [2] Group 1 - The company anticipates a net profit loss for 2025, ranging from 890 million to 1.29 billion yuan [2] - In the previous year, the company reported a profit of 68.29 million yuan [2]

Core Viewpoint - The company emphasizes the importance of new technologies and developments in the photovoltaic solar energy industry, particularly in the low-orbit satellite energy systems sector [1] Group 1: Industry Insights - The company has conducted two quarters of industry research and analysis, recognizing the significant value and trends in the low-orbit satellite energy systems [1] - The company is exploring a series of space-grade solar wing encapsulation materials in collaboration with relevant parties [1] Group 2: Product Development - The company is currently in the R&D phase for products that meet the unique requirements of space solar wings, which differ from ground photovoltaic products [1] - The company is developing POE modified materials and special encapsulation materials to meet performance requirements such as resistance to space radiation, atomic oxygen corrosion, and adaptability to temperature variations of ±120 degrees [1] - The company aims to establish a complete industrial chain from R&D to testing to actual application, while also exploring potential business channels both domestically and internationally [1]

Core Viewpoint - Meinian Health is seeking to participate in the pre-restructuring of Bangjie Holdings, aiming to gain control of a company heavily in debt due to its foray into the photovoltaic industry, raising questions about the strategic rationale behind this move [1] Group 1: Meinian Health's Financial Performance - Meinian Health reported a total revenue of 10.702 billion yuan in 2024, a year-on-year decrease of 1.76% [1] - The net profit attributable to shareholders was 282 million yuan, down 44.18% year-on-year [1] - The company's gross margin was 42.78%, a slight decrease of 0.01 percentage points, while the net margin fell to 3.82%, a decrease of 37.75% year-on-year [1] - The decline in performance is attributed to a reduction in the number of health check-ups and intensified industry competition [1] Group 2: Debt Structure and Financial Health - As of the end of Q3 2025, Meinian Health had cash and cash equivalents of 2.011 billion yuan, with short-term borrowings and current liabilities exceeding 3.9 billion yuan [1] - The company’s interest-bearing debt reached 6.338 billion yuan, continuing to rise slightly year-on-year [1] - The high debt levels contrast sharply with the company's weak profitability, indicating insufficient financial flexibility [1] Group 3: Bangjie Holdings' Financial Troubles - Bangjie Holdings, originally focused on seamless clothing, invested over 10 billion yuan in the photovoltaic sector starting in 2022, but faced severe challenges due to price wars and tightened financing [2] - The company announced the termination of an 8 billion yuan photovoltaic project and has accumulated overdue debts totaling 969 million yuan [2] - As of the end of Q3 2025, Bangjie Holdings had a debt-to-asset ratio of 138.88%, with cash reserves of only 150 million yuan against interest-bearing debts of 1.9 billion yuan [2] - The company has incurred cumulative losses exceeding 1.6 billion yuan from 2023 to Q3 2025, with a net loss of 672 million yuan in 2024 and 905 million yuan in the first three quarters of 2025 [2] Group 4: Risks and Challenges of the Acquisition - Meinian Health's participation in Bangjie Holdings' restructuring may require significant capital investment to settle debts and restore operations, which could strain its own liquidity [2][3] - The ongoing losses from Bangjie Holdings' photovoltaic business and outstanding debts may negatively impact Meinian Health's overall profitability even after restructuring [3] - Meinian Health faces management challenges due to a lack of operational experience in the photovoltaic sector, compounded by the uncertainties surrounding Bangjie Holdings' assets [3] Group 5: Industry Analyst Insights - Industry analysts suggest that the photovoltaic sector is not a reliable lifeline for Meinian Health, as latecomers lack cost advantages, and halting production may be the only viable option for Bangjie Holdings [4] - The high-risk nature of this cross-industry acquisition is underscored by Meinian Health's own financial pressures and Bangjie Holdings' significant debt and ongoing losses [4] - The success of this "cross-industry marriage" will depend on the design of the restructuring plan and Meinian Health's ability to maintain its financial safety while supporting the new business [4]

Core Viewpoint - YN Technology announced an expected net profit attributable to the parent company for the year 2025 to be between -140 million and -115 million, compared to a net profit of 140.04 million in the same period last year [1] Financial Performance - The projected net profit for 2025 is estimated to be in the range of -140 million to -115 million [1] - The previous year's net profit was reported at 140.04 million [1]

Core Viewpoint - Yongzhen Co., Ltd. (603381) is expected to report a net profit loss of between -235 million to -175 million yuan for the fiscal year 2025, indicating a significant decline compared to the previous year [1] Group 1: Financial Performance - The company anticipates a net profit loss for 2025, contrasting with the previous year's performance [1] - The increase in production and sales volume is attributed to the capacity enhancement at the Wuhu and Vietnam bases [1] Group 2: Industry Impact - The overall adjustment in the photovoltaic industry has pressured the domestic aluminum frame processing fee prices, leading to a decline in gross margin [1] - The company has conducted impairment tests on assets showing signs of impairment and has made provisions for asset impairment in accordance with accounting standards [1] Group 3: Cost and Financing - The expansion of bank financing has resulted in increased interest expenses for the company [1] - The amount of government subsidies received during the reporting period has decreased compared to the same period last year [1]