Core Viewpoint - Yirui Technology (688301.SH), a manufacturer of digital X-ray detectors, achieved record high performance in 2025, with significant revenue and profit growth driven by stable growth in its digital X-ray detector business and substantial growth in comprehensive solutions and core components [2][4]. Financial Performance - In 2025, the company reported revenue of 2.299 billion yuan, a year-on-year increase of 25.53% - The net profit attributable to shareholders reached 661 million yuan, up 42.15% - The net profit after deducting non-recurring gains and losses was 627 million yuan, reflecting a growth of 42.89% [2][4]. Market Position - Yirui Technology holds a leading position in the global market for digital X-ray detectors, with a market share of 19.83% in 2024, up from 16.46% in 2021 [3]. - The company has consistently ranked first in market share within China for digital X-ray detectors [3]. Employee Incentives - The company is implementing a multi-tiered incentive system to enhance talent development and bind the core team, promoting long-term growth [6]. - A 2026 employee stock ownership plan has been proposed, with an initial cap of 150 participants and a funding limit of 100 million yuan, linked to performance targets based on 2025 net profit [6][7]. Strategic Investments - In October 2025, Yirui Technology raised 1.16 billion yuan through a private placement to fund projects related to X-ray vacuum devices and comprehensive solutions [5]. - The total assets of the company reached 12.79 billion yuan by the end of 2025, a 40.81% increase from the previous year [5]. Subsidiary Development - Yirui Hefei, a wholly-owned subsidiary, is set to introduce strategic investors through a 500 million yuan capital increase, enhancing its financial strength and operational scale [8][9]. - The introduction of local state-owned investors is expected to deepen strategic cooperation and improve the subsidiary's market competitiveness [8].

Group 1 - The medical device sector increased by 0.19% on January 29, with Sanyou Medical leading the gains [1] - The Shanghai Composite Index closed at 4157.98, up 0.16%, while the Shenzhen Component Index closed at 14300.08, down 0.3% [1] - Key stocks in the medical device sector showed varied performance, with Sanyou Medical rising by 5.12% to a closing price of 22.60 [1] Group 2 - Major stocks that declined included Daan Gene, which fell by 9.96% to a closing price of 6.87, and Cap Bio, down 9.88% to 7.94 [2] - The medical device sector experienced a net outflow of 376 million yuan from institutional investors, while retail investors saw a net inflow of 201 million yuan [2][3] - Notable net inflows from retail investors were observed in stocks like Lepu Medical, which had a net inflow of 42.29 million yuan [3]

Group 1 - Zhongyuan Expressway (600020) expects a net profit of approximately 612 million yuan for 2025, a decrease of about 30% year-on-year [1] - Bomin Electronics (603936) anticipates a net profit of 15 million to 22 million yuan for 2025, achieving a turnaround from loss to profit compared to the previous year [2] - Fangda Special Steel (600507) forecasts a net profit of 835 million to 998 million yuan for 2025, an increase of 236.9% to 302.67% year-on-year [3] Group 2 - Jiadu Technology (600728) expects a net profit of 160 million to 200 million yuan for 2025, recovering from a loss of 115 million yuan in the previous year [4] - Changyang Technology (688299) predicts a net loss of 116 million to 168 million yuan for 2025 [5] - Zhongzi Technology (688737) anticipates a net loss of 45.24 million to 67.86 million yuan for 2025 [6] Group 3 - Two-sided Needle (600249) expects a net profit of 5 million to 10 million yuan for 2025, a decline of 87.67% to 93.83% year-on-year [7] - Sanrenxing (605168) forecasts a net profit of 181 million to 209 million yuan for 2025, an increase of 46.79% to 69.5% year-on-year [8] - Shubeide (300322) anticipates a net profit of 60 million to 70 million yuan for 2025, recovering from a loss of 64.46 million yuan in the previous year [9] Group 4 - Maoye Commercial (600828) expects a net loss of 201 million to 242 million yuan for 2025 [10] - Hongsheng Huayuan (601096) forecasts a net profit of 348 million to 400 million yuan for 2025, an increase of 51.22% to 73.82% year-on-year [11] - Huafeng Technology (688629) anticipates a net profit of 338 million to 388 million yuan for 2025, achieving a turnaround from loss to profit [12] Group 5 - Aerospace Rainbow (002389) expects a net profit of 25 million to 31 million yuan for 2025, a decrease of 64.84% to 71.65% year-on-year [14] - Shangong Shenbei (600843) predicts a net loss of 120 million to 150 million yuan for 2025, compared to a loss of 244 million yuan in the previous year [15] - Chaoxun Communication (603322) anticipates a net profit of 36 million to 54 million yuan for 2025, achieving a turnaround from loss to profit [16] Group 6 - Guannong Co. (600251) expects a net profit of 330 million to 340 million yuan for 2025, an increase of 61.29% to 66.18% year-on-year [17] - Shandong Steel (600022) forecasts a net profit of around 100 million yuan for 2025, recovering from a loss of 2.891 billion yuan in the previous year [18] - Baili Technology (603959) anticipates a net loss of 140 million to 200 million yuan for 2025 [19] Group 7 - Electric Power Investment Hydropower (600292) expects a net profit of approximately 517 million yuan for 2025, a year-on-year increase of about 1337% [20] - Aibulu (301259) forecasts a net profit of 26 million to 33.8 million yuan for 2025, recovering from a loss of 30.84 million yuan in the previous year [21] - Yipin Hong (300723) announced that its subsidiary received approval for clinical trials of a new drug [22] Group 8 - Meixin Sheng (688458) plans to acquire 100% equity of Xinyan Micro for 160 million yuan [23][24] - Lanshi Heavy Industry (603169) expects a net loss of 370 million to 440 million yuan for 2025, transitioning from profit to loss [25] - Hongyang (000525) anticipates a net loss of 260 million to 390 million yuan for 2025, compared to a profit of 388 million yuan in the previous year [26] Group 9 - Tianzhihang (688277) predicts a net loss of 165 million to 198 million yuan for 2025, with losses expected to widen by 36.22% to 63.46% compared to the previous year [27] - Tongda Co. (002560) announced plans for a major shareholder to reduce holdings by no more than 1% [28] - *ST Chengchang (001270) expects a net profit of 95 million to 124 million yuan for 2025, recovering from a loss of 31.12 million yuan in the previous year [29] Group 10 - Yirui Technology (688301) reported a net profit of 661 million yuan for 2025, a year-on-year increase of 42.15% [30] - Hualitai (001217) anticipates a net loss of 28 million to 38 million yuan for 2025, transitioning from profit to loss [31] - Yunjiji Group (001288) expects a net profit of 220 million to 252 million yuan for 2025, a year-on-year increase of 40% to 60% [32] Group 11 - Heertai (002402) forecasts a net profit of 638 million to 729 million yuan for 2025, an increase of 75% to 100% year-on-year [33] - Shenhao Technology (300853) anticipates a net loss of 185 million to 220 million yuan for 2025, compared to a loss of 238 million yuan in the previous year [34] - Zhongyan Dadi (003001) expects a net profit of 10 million to 15 million yuan for 2025, a decline of 75.97% to 83.98% year-on-year [35] Group 12 - Landai Technology (002765) forecasts a net profit of 180 million to 200 million yuan for 2025, a year-on-year increase of 44.83% to 60.93%, with a non-recurring profit of 140 million to 160 million yuan, an increase of 113.1% to 143.54% [37] - Yingfeite (300582) plans to raise product prices by 5% to 15% starting March 1, 2026, due to rising raw material costs [38] - Lanzhou Bank (001227) plans to distribute 285 million yuan in cash dividends for the 2025 interim profit distribution [39] Group 13 - Wancheng Group (300972) announced plans for shareholders to reduce holdings by no more than 1.27% [40] - *ST Huarong (600421) expects to turn a profit in 2025, with a projected net profit of 6.5 million to 8 million yuan [41] - Jiaheng Home (300955) anticipates a net loss of 29 million to 39 million yuan for 2025, compared to a loss of 23.69 million yuan in the previous year [42] Group 14 - Aide Biology (300685) announced plans for a major shareholder to reduce holdings by no more than 1.22% [43] - Haixia Innovation (300300) expects a net profit of 100 million to 150 million yuan for 2025, a year-on-year increase of 1660.56% to 2540.85% [44]

【中泰机械】奕瑞科技：2025业绩超预期，看好AI应用浪潮下硅基OLED背板放量 事件：公司发布2025年业绩快报，2025A营收22.99亿，YOY+25.53%，归母6.61亿，YOY+42.15%，扣非6.27 亿，YOY+42.89%；2025Q4营收7.50亿，YOY+57.79%；归母1.91亿，YOY+154.16%，扣非1.87 亿，YOY+253.39%；超市场预期。 点 【中泰机械】奕瑞科技：2025业绩超预期，看好AI应用浪潮下硅基OLED背板放量 事件：公司发布2025年业绩快报，2025A营收22.99亿，YOY+25.53%，归母6.61亿，YOY+42.15%，扣非6.27 亿，YOY+42.89%；2025Q4营收7.50亿，YOY+57.79%；归母1.91亿，YOY+154.16%，扣非1.87 亿，YOY+253.39%；超市场预期。 2025Q4收入高速增长并创历史新高，主要是因为①国内医疗设备以旧换新政策支持下，下游需求回暖，医疗影像 业务进一步加速增长，②公司与全球头部齿科设备商开启稳定合作，成为韩国齿科CBCT市场探测器主要供应商之 一，③宁德等锂电池厂商进一步扩 ...

1月28日，奕瑞科技跌2.85%，成交额2.73亿元。两融数据显示，当日奕瑞科技获融资买入额2057.02万 元，融资偿还1725.17万元，融资净买入331.85万元。截至1月28日，奕瑞科技融资融券余额合计7.32亿 元。 融资方面，奕瑞科技当日融资买入2057.02万元。当前融资余额7.30亿元，占流通市值的3.20%，融资余 额超过近一年90%分位水平，处于高位。 截至9月30日，奕瑞科技股东户数8011.00，较上期增加14.61%；人均流通股24992股，较上期减少 12.74%。2025年1月-9月，奕瑞科技实现营业收入15.49亿元，同比增长14.22%；归母净利润4.71亿元， 同比增长20.61%。 分红方面，奕瑞科技A股上市后累计派现7.89亿元。近三年，累计派现5.57亿元。 机构持仓方面，截止2025年9月30日，奕瑞科技十大流通股东中，香港中央结算有限公司位居第九大流 通股东，持股380.20万股，为新进股东。华宝中证医疗ETF（512170）退出十大流通股东之列。 责任编辑：小浪快报 融券方面，奕瑞科技1月28日融券偿还600.00股，融券卖出3800.00股，按当日收盘价计算， ...

Group 1 - The core view of the report emphasizes that AI is reshaping manufacturing demand, with mature manufacturing moving towards global markets, and the mechanical industry is expected to benefit significantly from technology and export growth in 2026 [1][9][10] - The mechanical industry index outperformed the CSI 300 by 23.25 percentage points in 2025, with a 40.91% increase in the mechanical industry index compared to a 17.66% increase in the CSI 300 [9][10] - AI technology is expected to have a profound impact on the manufacturing industry, with AI infrastructure reshaping demand patterns and applications driving hardware manufacturing equipment demand [9][11] Group 2 - The report predicts that 2026 will see a significant increase in demand for equipment driven by AI infrastructure, including semiconductor equipment, liquid cooling equipment, and gas turbines [13] - The demand for AI hardware manufacturing equipment and components, such as humanoid robots and 3C automation equipment, is expected to rise [13] - Export-oriented equipment, particularly in the engineering machinery sector, is anticipated to show strong growth in 2026 [13] Group 3 - The semiconductor equipment market is projected to grow, with global sales expected to reach $125.5 billion in 2025, a 7.4% increase, and further growth to $138.1 billion in 2026 [34][40] - The report highlights that the domestic semiconductor equipment market in China is expected to reach approximately 230 billion yuan in 2025, indicating strong growth potential [41] - The PCB industry is entering a new development cycle driven by AI demand, with a projected global PCB market value of approximately $73.57 billion in 2024, reflecting a 5.8% year-on-year increase [54][56] Group 4 - Liquid cooling technology is becoming essential due to the increasing power consumption of AI servers, with the global liquid cooling component market expected to reach $5-10 billion in 2025 and $25 billion by 2030 [84][86] - The report indicates that the demand for liquid cooling solutions will significantly increase as AI processing power continues to rise, making traditional cooling methods inadequate [70][84] - The introduction of advanced liquid cooling systems, such as NVIDIA's GB200 and GB300, is expected to drive market growth and innovation in cooling technologies [84][86]

业绩增长主要数字化X线探测器业务平稳增长，综合解决方案及核心部件业务大幅增长所致。 智通财经APP讯，奕瑞科技(688301.SH)披露2025年度业绩快报，2025年度实现营业收入22.99亿元，同 比增长25.53%;归属于母公司所有者的净利润6.61亿元，同比增长42.15%。 ...

归属于母公司所有者的净利润较上年同期增长42.15%，归属于母公司所有者的扣除非经常性损益的净 利润同比增长42.89%，主要原因系2025年营业收入较上年持续提升，同时公司继续专注于精益生产和 管理，毛利率和净利率保持在较高水准，相关利润指标较上年有大幅增长。 格隆汇1月28日丨奕瑞科技(688301.SH)公布2025年度业绩快报，报告期内，公司实现营业收入22.99亿 元，同比增加25.53%；实现归属于母公司所有者的净利润6.61亿元，同比增加42.15%，主要数字化X线 探测器业务平稳增长，综合解决方案及核心部件业务大幅增长所致；实现归属于母公司所有者的扣除非 经常性损益的净利润6.27亿元，同比增加42.89%。 ...

信托登记系统产品编码：【 】 信托公司管理信托财产应恪尽职守，履行诚实、 信用、谨慎、有效管理的义务。信托公司依据信 托合同约定管理信托财产所产生的风险，由信托 财产承担。信托公司因违背信托合同、处理信托 事务不当而造成信托财产损失的，由信托公司以 固有财产赔偿。 华能信托·奕瑞科技 2026 年员工持股 计划信托 信托合同 合同编号：华能信托【2026】单一信托字第【361】号 华能贵诚信托有限公司 * [10] M. C. | 1. | 定义和解释 | 3 | | --- | --- | --- | | 2. | 信托目的和信托类型 6 | | | 3. | 受益人 7 | | | 4. | 信托资金及其交付 8 | | | 5. | 信托的成立和生效 9 | | | 6. | 信托期限 9 | | | 7. | 信托财产 10 | | | 8. | 信托财产的管理、运用或处分 10 | | | 9. | 信托财产的估值 | 14 | | 10. | 信托财产费用 | 14 | | 11. | 信托费用的计算及支付 | 15 | | 12. | 信托财产的分配及交付 | 17 | | 13. | 风险提示 ...

格隆汇1月28日丨奕瑞科技(688301.SH)公布2025年度业绩快报，报告期内，公司实现营业收入22.99亿 元，同比增加25.53%；实现归属于母公司所有者的净利润6.61亿元，同比增加42.15%，主要数字化X线 探测器业务平稳增长，综合解决方案及核心部件业务大幅增长所致；实现归属于母公司所有者的扣除非 经常性损益的净利润6.27亿元，同比增加42.89%。 归属于母公司所有者的净利润较上年同期增长42.15%，归属于母公司所有者的扣除非经常性损益的净 利润同比增长42.89%，主要原因系2025年营业收入较上年持续提升，同时公司继续专注于精益生产和 管理，毛利率和净利率保持在较高水准，相关利润指标较上年有大幅增长。 ...