证券日报网讯1月30日，华丰科技在互动平台回答投资者提问时表示，公司224G高速背板连接器已完成 客户的验证测试，现已有样品，并且与主要通讯客户开始项目合作、交流，具体量产时间取决于客户需 求。 ...

研究所： 证券分析师： 刘熹 S0350523040001 liux10@ghzq.com.cn 联系人 ： 朱谞晟 S0350125070003 zhuxs@ghzq.com.cn [Table_Title] 预计 2025 年归母净利润 3 亿元+，AI 驱动高 速连接放量增长 ——华丰科技（688629）2025 年业绩预告点评 最近一年走势 2026 年 01 月 30 日 公司研究 评级：买入(维持) | 相对沪深 300 | 表现 | | 2026/01/29 | | --- | --- | --- | --- | | 表现 | 1M | 3M | 12M | | 华丰科技 | -9.3% | 18.3% | 148.5% | | 沪深 300 | 2.5% | 0.1% | 24.5% | | 市场数据 | 2026/01/29 | | --- | --- | | 当前价格（元） | 94.19 | | 周价格区间（元） 52 | 39.88-115.24 | | 总市值（百万） | 43,420.91 | | 流通市值（百万） | 17,122.15 | | 总股本（万股） | 46,099. ...

Group 1 - The core point of the article is that Huafeng Technology (688629.SH) has successfully achieved sample trial qualification for its 224G high-speed backplane connector and has begun project cooperation and communication with major telecommunications clients [1] Group 2 - The company encourages stakeholders to pay attention to subsequent announcements regarding the progress of these collaborations [1]

Group 1: Jingxin Pharmaceutical - Jingxin Pharmaceutical is focusing on the commercialization of Jingnuoning, with over 400 new hospital admissions, covering more than 1,500 hospitals, achieving revenue of 55 million yuan [1] - The company has completed Phase II clinical trials for JX11502 capsules and submitted a market application for Calirazone capsules, while the LP(a) lowering drug is in Phase I [1] - The sales expense ratio has decreased by 2.41 percentage points, and the expense ratio is expected to remain stable [1] - As of July 31, 2025, the company has repurchased shares worth 610 million yuan, primarily for equity incentives [1] - Medical device revenue reached 349 million yuan, a year-on-year increase of 12.01%, while raw material drug revenue was 453 million yuan, a year-on-year decrease of 9.59% due to downstream destocking [1] Group 2: Huafeng Technology - In Q2 2025, Huafeng Technology's production and sales of high-speed line modules showed good growth compared to Q1 [2] - The sales revenue from the new energy vehicle business has increased year-on-year, with an improved product structure and plans to expand market scale for high-voltage connector applications [2] - Asset impairment mainly includes credit impairment losses and inventory write-downs, primarily due to increased accounts receivable and customer cost control [2] - The 224G high-speed backplane connector has completed customer validation testing, with mass production timing dependent on customer demand [2] - The company is collaborating with multiple equipment manufacturers and internet application customers on various projects, with customers generally adopting high-speed line module methods [2]

Core Viewpoint - Huafeng Technology (688629.SH) has completed customer validation testing for its 224G high-speed backplane connectors, with sample availability and mass production timing dependent on customer demand [1] Group 1: Product Development - The company has successfully developed samples of the 224G high-speed backplane connectors [1] - Mass production will be determined based on customer requirements [1] Group 2: Partnerships and Collaborations - Huafeng Technology is collaborating with major equipment manufacturers such as Huawei, Inspur, Super Fusion, Dawn, Huqin, ZTE, and H3C [1] - The company is also engaging with internet application clients including Alibaba, Tencent, and ByteDance for project cooperation [1]