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、准确性和完整性依法承担法律责任。 本公告所载2025年度主要财务数据为初步核算数据，未经会计师事务所审计，具体数据以苏州盛科通信 股份有限公司（以下简称"公司"）2025年年度的定期报告为准，提请投资者注意投资风险。 一、2025年度主要财务数据和指标 单位：万元 ■ 注：1.本报告期初数同法定披露的上年年末数。 2.以上财务数据及指标以合并报表数据填制，但未经审计，最终结果以公司2025年年度报告为准。 3.以上增减变动幅度数据如有尾差，是由于四舍五入所造成。 二、经营业绩和财务状况情况说明 2.影响经营业绩的主要因素 面对复杂多变的市场环境，公司收入规模保持温和增长，研发投入的持续增长导致短期利润承压。 公司持续加大研发投入，为公司在新产品的研发与新市场的布局奠定坚实的基础。公司不断深化布局工 艺平台，加快产品迭代以及增强产品性能和优化成本，为高质量可持续发展提供持久动力，构建长期竞 争力。 （二）上表中有关项目增减变动幅度达30%以上的主要原因说明 本报告期，公司营业利润、利润总额、归属于母公司所有者的 ...

Group 1: Consumer Complaints Overview - In 2025, Anhui Province's consumer protection committees received over 28,700 complaints, recovering more than 22.05 million yuan for consumers [1] - The fastest-growing complaint category was automotive repair, with a year-on-year increase of 56% [4] - The top five complaint issues included quality, after-sales service, false advertising, contracts, and safety, accounting for 88.07% of total complaints [1] Group 2: Automotive Repair Complaints - Complaints in the automotive repair sector primarily focused on price transparency, arbitrary pricing of repair items, and lack of standardized labor and parts pricing [4] - A specific case involved a consumer being charged 800 yuan for a fictitious engine repair, leading to a full refund after a complaint was filed [4] - Recommendations for improvement include enhancing market access and credit supervision in the automotive repair industry, and consumers should confirm repair details in writing [4] Group 3: Online Pet Sales Issues - Online pet sales have increased risks due to remote transactions, with common issues including forced price increases and false advertising [5][6] - A consumer reported being charged additional fees for pet food and health guarantees after purchasing a pet online, ultimately leading to a loss of contact with the seller [6] - Recommendations include strengthening regulatory oversight of online pet sales and ensuring consumers choose reputable sellers [6] Group 4: Rural Sales Targeting Elderly Consumers - Some businesses are targeting elderly consumers in rural areas through misleading sales tactics, including high-pressure sales during health seminars [7] - A case involved a sales team misleading elderly consumers into purchasing expensive products under false health claims, resulting in refunds for affected individuals [7] - Recommendations emphasize the need for regulatory intervention in rural sales activities and consumer education to prevent exploitation [8]

Core Viewpoint - The stock of Aishide has experienced fluctuations, with a recent decline of 2.07% and a total market capitalization of 16.408 billion yuan, while the company faces a significant drop in revenue and net profit year-on-year [1][2]. Group 1: Stock Performance - As of January 16, Aishide's stock price is 13.24 yuan per share, with a trading volume of 1.79 billion yuan and a turnover rate of 1.09% [1]. - Year-to-date, Aishide's stock has increased by 5.25%, but it has decreased by 2.93% over the last five trading days [1]. - Over the past 20 days, the stock has risen by 11.35%, while it has only increased by 2.40% in the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Aishide reported a revenue of 39.325 billion yuan, a year-on-year decrease of 31.46%, and a net profit attributable to shareholders of 337 million yuan, down 35.78% year-on-year [2]. - Since its A-share listing, Aishide has distributed a total of 4.045 billion yuan in dividends, with 1.735 billion yuan distributed in the last three years [3]. Group 3: Shareholder Information - As of September 30, 2025, Aishide has 76,200 shareholders, a decrease of 11.10% from the previous period, with an average of 16,070 circulating shares per shareholder, an increase of 12.49% [2]. - The fourth largest circulating shareholder is Hong Kong Central Clearing Limited, holding 45.184 million shares, an increase of 6.3597 million shares from the previous period [3]. - The fifth largest circulating shareholder is Southern CSI 1000 ETF, holding 6.796 million shares, which is a decrease of 70,900 shares from the previous period [3].

Core Viewpoint - The stock of Fenghuo Electronics has experienced fluctuations, with a recent decline in share price and mixed financial performance indicators, highlighting potential investment opportunities and risks in the defense and aerospace sector. Group 1: Stock Performance - On January 16, Fenghuo Electronics' stock fell by 2.02%, trading at 12.14 yuan per share, with a total market capitalization of 10.489 billion yuan [1] - Year-to-date, the stock price has decreased by 0.65%, with an 8.10% drop over the last five trading days, while showing an increase of 8.20% over the last 20 days and 13.14% over the last 60 days [1] Group 2: Financial Performance - For the period from January to September 2025, Fenghuo Electronics reported a revenue of 1.025 billion yuan, representing a year-on-year growth of 43.28%, while the net profit attributable to shareholders was -87.6951 million yuan, a decrease of 49.53% compared to the previous year [2] - Cumulative cash dividends since the A-share listing amount to 70.2361 million yuan, with 6.037 million yuan distributed over the last three years [3] Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Fenghuo Electronics was 92,300, a decrease of 0.96% from the previous period, with an average of 6,519 circulating shares per shareholder, an increase of 0.97% [2] - Hong Kong Central Clearing Limited is the third-largest circulating shareholder, holding 5.0745 million shares, an increase of 3.2583 million shares from the previous period [3] Group 4: Company Overview - Fenghuo Electronics, established on August 15, 1992, and listed on May 9, 1994, is located in Baoji City, Shaanxi Province, and specializes in the research, production, and sales of communication equipment and acoustic devices, as well as radar and related components [1] - The company's main business revenue composition includes communication products (80.95%), acoustic devices (10.30%), and other businesses (8.75%) [1]

Core Viewpoint - The stock of Fenghuo Electronics has experienced a decline of 6.20% on January 15, with significant net outflows of capital, despite a year-to-date increase of 5.16% in stock price [1] Group 1: Stock Performance - As of January 15, Fenghuo Electronics' stock price is 12.85 CNY per share, with a total market capitalization of 11.103 billion CNY [1] - The stock has seen a year-to-date increase of 5.16%, a decline of 3.75% over the last five trading days, an increase of 10.49% over the last 20 days, and an increase of 18.43% over the last 60 days [1] Group 2: Financial Performance - For the period from January to September 2025, Fenghuo Electronics reported a revenue of 1.025 billion CNY, representing a year-on-year growth of 43.28% [2] - The net profit attributable to the parent company for the same period was -87.6951 million CNY, a decrease of 49.53% year-on-year [2] Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Fenghuo Electronics is 92,300, a decrease of 0.96% from the previous period [2] - The average number of circulating shares per shareholder is 6,519, an increase of 0.97% from the previous period [2] - The company has distributed a total of 70.2361 million CNY in dividends since its A-share listing, with 6.037 million CNY distributed in the last three years [3]

Core Viewpoint - The company, Shengke Communication, expects a net loss attributable to shareholders of the parent company between 120 million to 160 million yuan for the year 2025, which represents an increase in losses of 51.7353 million to 91.7353 million yuan compared to the previous year [1] Group 1: Financial Performance - The company anticipates a net loss for 2025, indicating a challenging financial outlook [1] - The projected loss reflects a significant increase in losses compared to the previous year's statutory disclosure data [1] Group 2: Business Strategy - The company maintains stable overall performance despite a complex and changing market environment, with revenue showing moderate growth [1] - Continuous investment in research and development is emphasized, laying a solid foundation for new product development and market expansion [1] - The company is deepening its layout of process platforms, accelerating product iteration, enhancing product performance, and optimizing costs to provide sustainable development and build long-term competitiveness [1]

Core Viewpoint - Yongding Co., Ltd. has shown significant stock price growth and strong financial performance, indicating potential investment opportunities in the telecommunications and power engineering sectors [1][2]. Financial Performance - As of January 14, Yongding's stock price increased by 16.49% year-to-date, with a 7.15% rise over the last five trading days, 45.33% over the last 20 days, and 111.88% over the last 60 days [1]. - For the period from January to September 2025, Yongding achieved a revenue of 3.63 billion yuan, representing a year-on-year growth of 22.13%, and a net profit attributable to shareholders of 329 million yuan, reflecting a substantial increase of 474.30% [2]. Shareholder Information - As of September 30, 2025, Yongding had 158,500 shareholders, an increase of 12.32% from the previous period, with an average of 9,221 circulating shares per shareholder, down by 10.97% [2]. - The company has distributed a total of 1.048 billion yuan in dividends since its A-share listing, with 174 million yuan distributed over the last three years [3]. Major Shareholders - The third-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 24.7766 million shares, an increase of 16.4358 million shares from the previous period [3]. - The fifth-largest circulating shareholder is Guotai CSI Communication Equipment ETF, which is a new shareholder holding 7.0476 million shares [3].

Group 1 - The core viewpoint of the news is that Yongding Co., Ltd. has seen a significant increase in its stock price, rising by 5.07% to 29.42 CNY per share, with a trading volume of 3.47 billion CNY and a turnover rate of 8.48%, resulting in a total market capitalization of 43.01 billion CNY [1] - Yongding Co., Ltd. is based in Suzhou, Jiangsu Province, and was established on June 30, 1994, with its stock listed on September 29, 1997. The company specializes in the research, production, and sales of communication products and software, overseas power engineering contracting, automotive wiring harnesses, and superconducting materials [1] - The revenue composition of Yongding Co., Ltd. includes automotive wiring harnesses (34.63%), power engineering (29.96%), optical communication (18.93%), superconducting and copper conductors (15.91%), and big data applications (0.58%) [1] Group 2 - From the perspective of fund holdings, only one fund from Huatai-PineBridge has a significant position in Yongding Co., Ltd. The Huatai-PineBridge CSI 2000 ETF (159536) reduced its holdings by 8,500 shares in the third quarter, holding a total of 14,900 shares, which represents 0.35% of the fund's net value, making it the third-largest holding [2] - The Huatai-PineBridge CSI 2000 ETF (159536) was established on September 13, 2023, with a latest scale of 53.81 million CNY. Year-to-date returns are 3.75%, ranking 2244 out of 5509 in its category, while the one-year return is 48.35%, ranking 1282 out of 4198 [2]

Summary of Puhua Technology Conference Call Company Overview - Puhua Technology is a publicly listed company under China Electronics Corporation, primarily engaged in information communication, including public network communication, private network communication, and intelligent manufacturing [2][3]. Industry and Business Developments - Puhua Technology collaborates with Xi'an Electric ICN Key Laboratory to develop integrated information network technology, having completed the development of handheld terminals and actively participating in the formulation of national and industry standards, including 3 national standards and 20 industry standards [2][3]. - The company plays a critical role in the Trisolaris computing constellation, focusing on breakthroughs in laser and microwave inter-satellite communication technology, integrated computing and storage technology, and establishing inter-satellite transmission links [2][5]. Key Business Segments - Puhua Technology focuses on high-end PCB business, serving military, aerospace, and other specialized fields, with aerospace PCB accounting for 20%-30% of its revenue, approximately 1.4 billion yuan annually [2][7]. - The company anticipates a significant increase in commercial aerospace orders by 2025, with applications in projects like Tiangong and Tianwen [2][7]. Financial Performance and Projections - Despite facing profit pressure from government receivables, Puhua Technology's performance is expected to improve significantly due to technological innovation, product innovation, and breakthroughs in new businesses, particularly in PCB manufacturing by 2025 [2][8]. - The company has entered operator procurement for communication products, and its data governance services have scaled up [8]. Technological Innovations - Puhua Technology is advancing in laser-microwave composite transmission technology, with laser communication offering advantages such as stable bandwidth of up to 100 Gbps and longer communication distances [4][9]. - The company has developed handheld satellite terminals and integrated satellite functions into existing narrowband terminals to meet specific user needs [4][10]. Market Strategy and Licensing - Puhua Technology's business model includes leasing newly built transmission links to provide cross-border computing scheduling services, leveraging the cost advantages of space links [6]. - The company holds relevant licenses in the satellite operation sector and plans to build an aerial fiber network for cross-regional computing scheduling [6]. Future Directions - The company aims to enhance its market performance through high-quality development and potential mergers and acquisitions, as emphasized by the China Electronics Corporation's focus on increasing the asset securitization ratio of its listed companies [12].

Core Insights - The consumer complaint system of the market supervision bureau received a total of 10,511 complaints during the New Year's holiday, reflecting a year-on-year increase of 4.3% [1] - There were 3,931 reports registered, showing a year-on-year increase of 2.1% [1] - A total of 37,902 inquiries were answered, with the highest complaint volumes coming from categories such as clothing, food, cosmetics, home goods, home appliances, and communication products [1] Complaint Analysis - Online consumption complaints accounted for 87.5% of the total complaints, with issues primarily related to quality defects, discrepancies with advertising, order cancellations, unfulfilled promotional commitments, delayed deliveries, and inadequate after-sales service [1] - Specifically, there were 822 complaints related to home appliances, with increased reports of issues such as poor heating performance of air conditioners and gas water heaters, delayed shipments, and unresolved after-sales service problems due to colder weather [1] - A notable case involved a consumer who purchased a vertical air conditioner from an e-commerce platform, which was promised to be shipped within 48 hours, but the order remained unfulfilled over a week later [1] Regulatory Response - All complaints and reports have been forwarded to the respective district market supervision departments for investigation and resolution [1]