格隆汇1月29日丨北纬科技(002148.SZ)发布2025年度业绩预告，报告期内，归属于上市公司股东的净利 润为亏损400万元—800万元，上年同期盈利2,618.58万元；扣除非经常性损益后的净利润为亏损1,200万 元—1,900万元，上年同期盈利1,202.65万元。 2025年度，公司物联网业务在深耕行业应用领域的同时，积极探索个人消费者网联业务市场，营业收入 实现稳步增长，净利润出现亏损，主要原因如下：1、物联网业务的个人消费者网联业务、手机游戏业 务均加大了市场营销推广投入，相关推广费用当期一次性计入，但对应获取的用户收入按服务周期分期 递延确认，导致当期投入与收益未能完全匹配，推广效益未充分显现；2、受运营商政策调整影响，物 联网业务资源采购成本上升，毛利率有所下降；3、北纬国际中心所处的写字楼租赁市场竞争加剧，平 均租金水平同比下降；4、非经常性损益方面，银行理财产品收益率同比下降。 ...

南财智讯1月29日电，北纬科技发布年度业绩预告，预计2025年全年归属于上市公司股东的净利润 为-800万元—-400万元；预计2025年全年归属于上市公司股东的扣除非经常性损益的净利润为-1900万元 —-1200万元。2025年度，公司物联网业务在深耕行业应用领域的同时，积极探索个人消费者网联业务 市场，营业收入实现稳步增长，净利润出现亏损，主要原因如下：1、物联网业务的个人消费者网联业 务、手机游戏业务均加大了市场营销推广投入，相关推广费用当期一次性计入，但对应获取的用户收入 按服务周期分期递延确认，导致当期投入与收益未能完全匹配，推广效益未充分显现；2、受运营商政 策调整影响，物联网业务资源采购成本上升，毛利率有所下降；3、北纬国际中心所处的写字楼租赁市 场竞争加剧，平均租金水平同比下降；4、非经常性损益方面，银行理财产品收益率同比下降。 ...

北纬科技公告，预计2025年度净利润为负值，预计亏损400万元至800万元。营业收入预计在3.5亿元至 4.1亿元之间，上年同期为2.82亿元。公司表示，2025年度，公司物联网业务在深耕行业应用领域的同 时，积极探索个人消费者网联业务市场，营业收入实现稳步增长，净利润出现亏损，主要原因如下： 1、物联网业务的个人消费者网联业务、手机游戏业务均加大了市场营销推广投入，相关推广费用当期 一次性计入，但对应获取的用户收入按服务周期分期递延确认，导致当期投入与收益未能完全匹配，推 广效益未充分显现； ...

南财智讯1月29日电，光力科技发布年度业绩预告，预计2025年全年归属于上市公司股东的净利润为 3300万元—4800万元，预计同比扭亏；预计2025年全年归属于上市公司股东的扣除非经常性损益的净利 润为1700万元—2400万元，同比预增113.86%—119.57%。业绩变动原因说明：1、公司国产化机械划切 设备在先进封装领域得到了更加广泛的应用。2025年三季度开始，新增订单持续增加，交货量持续加 大。2、围绕矿山智能化建设，公司持续深化物联网业务，在煤炭市场不景气的大环境下，仍然保持了 稳定的业绩。3、得益于2025年公司全球化的深度布局和调整，海外子公司经营情况逐步向好。4、报告 期内，预计2025年相关资产计提减值准备金额较2024年度大幅度降低。5、2025年公司非经常性损益金 额约为1800万元。 ...

Group 1 - The report titled "2025 China Listed Companies ESG Value Accounting Report" was jointly released by the China Association of Public Companies and Zeyang Tianxia (Beijing) Management Consulting Co., Ltd, summarizing recent research and practical progress in environmental and social impact accounting [1][2] - The number of ESG reports published by A-share and Hong Kong Stock Exchange listed companies continues to grow, with key indicator disclosure rates improving year by year, and data quality significantly enhanced [1][2] - In 2024, the number of companies achieving an A-grade for carbon dioxide emission data increased by over 50% compared to 2022, indicating a positive trend in ESG performance [1][2] Group 2 - The report analyzes the application of ESG value accounting in the investment field, confirming the effectiveness of various ESG value accounting indicators through factor analysis, which shows that most indicators have good stability and correlation [1][2] - An investment portfolio constructed using ESG risk opportunity value as a stock selection factor demonstrated positive excess returns in backtesting, indicating the practical application value of ESG value accounting data in investment strategies [1][2] Group 3 - ESG value accounting supports dual materiality analysis, helping companies optimize information disclosure and management decisions, with the national standard "Guidelines for Corporate Sustainable Value Accounting" promoting the standardization of ESG value accounting [2][8] - Internationally, the Capitals Coalition and the International Foundation for Valuing Impact (IFVI) announced multiple integration guidelines in 2024, aiming to build a global unified value accounting database [2][8] Group 4 - The report highlights that the number of companies creating positive social value is continuously increasing, with a decline in environmental and resource usage intensity [1][2] - The report also emphasizes the importance of ESG value accounting in corporate operations, aiding in the identification of key value nodes and optimizing resource allocation [2][11]

Core Viewpoint - Xiaomi Group has rapidly declined from being a market favorite to one of the worst-performing Chinese tech stocks, facing challenges in the smartphone and electric vehicle markets, making short-term recovery difficult [1] Group 1: Financial Performance and Market Position - Xiaomi is expected to report its slowest revenue growth since 2023, raising concerns among investors [1] - The company's stock has dropped nearly 30% since its peak in September, ranking among the largest declines in the Hang Seng Tech Index [1] - The average target price for Xiaomi's stock has been reduced by over 8% since its August high, making it the third-largest downward adjustment in the Hang Seng Tech Index, following Meituan and Li Auto [2] Group 2: Cost Pressures and Profitability - Rising storage chip prices are anticipated to erode Xiaomi's smartphone profit margins, with mobile DRAM contract prices increasing by 21% in October, the highest level since July 2022 [1] - Analysts indicate that the ongoing "super cycle" in storage chips will pressure profit margins for companies like Xiaomi, as these costs cannot be fully passed on to consumers [2] Group 3: Electric Vehicle Business - Xiaomi is focused on increasing electric vehicle delivery volumes, with a goal of achieving profitability in this sector by the end of the year [2] - Concerns exist regarding the potential impact of the gradual withdrawal of government subsidies on the overall automotive market [2] Group 4: Investor Sentiment and Stock Valuation - Despite the stock's decline, its valuation has become more attractive, with a projected future price-to-earnings ratio of approximately 19 times, half of its early-year peak [2] - Domestic investors have been increasing their positions in Xiaomi, with net purchases for thirteen consecutive days through the trading link mechanism [2] - The short-selling ratio of Xiaomi's stock has risen from a low of 0.4% in July to nearly 0.7%, driven by concerns over safety, factory delays, and insufficient electric vehicle demand despite recent promotions [2]

Core Insights - Qualcomm reported a Q4 fiscal revenue of $11.27 billion, a 10% year-over-year increase, while experiencing a GAAP net loss of $3.12 billion compared to a net income of $2.92 billion in the same quarter last year [1][2] Financial Performance - Adjusted revenue for Q4 fiscal 2025 was $11.27 billion, up from $10.24 billion in Q4 fiscal 2024, reflecting a 10% growth [2] - GAAP net income showed a significant decline, with a loss of $3.12 billion compared to a profit of $2.92 billion in the previous year, marking a 207% change [2] - Adjusted earnings per share (EPS) increased to $3.00 from $2.69, representing a 12% rise [2] Annual Performance - For the fiscal year 2025, Qualcomm's total revenue reached $44.28 billion, a 14% increase from $38.96 billion in fiscal 2024 [3] - The net income for the fiscal year dropped by 45% to $5.54 billion from $10.14 billion in the previous year [3] - Adjusted EPS for the fiscal year increased by 18% to $12.03 from $10.22 [3] Business Segment Performance - The mobile segment saw a revenue increase of 14%, reaching $6.96 billion [3] - The automotive segment experienced a 17% revenue growth, totaling $1.05 billion [3] - The Internet of Things (IoT) segment grew by 7%, with revenues of $1.81 billion [3] Future Outlook - Qualcomm anticipates Q1 fiscal revenue between $11.8 billion and $12.6 billion, with adjusted EPS expected to be between $3.30 and $3.50 [4]