Core Viewpoint - The company has completed the registration and connection of its Nanshan Thermal Power Plant to the Shenzhen Virtual Power Plant Management Center's secondary platform, but it is still in the market cultivation stage and has not yet reached conditions for large-scale commercial operation [1] Group 1 - The company has not applied to the Guangdong Electric Power Trading Center for the opening of virtual power plant-related business due to the current stage of development [1] - The current production and operation of the company are not significantly impacted by the status of the virtual power plant business [1] - The company will continue to monitor the development of the virtual power plant business and will consider launching related operations based on market conditions and strategic planning [1]

Core Viewpoint - The company, Shenzhen South Circuit (002916), is addressing the impact of raw material price fluctuations on its operations and is implementing measures to enhance internal efficiency and maintain communication with suppliers and customers [1] Group 1: Raw Material Insights - The company's main raw materials include copper-clad laminates, semi-cured sheets, copper foil, gold salt, and ink, indicating a diverse range of inputs [1] - Prices of certain raw materials, such as gold salt and copper, have increased on a month-on-month basis due to changes in commodity prices [1] Group 2: Operational Strategies - The company plans to improve internal operational efficiency through enhancing process capabilities, accelerating technological innovation, and optimizing raw material inventory management [1] - Continuous monitoring of international market trends for copper and other commodities, as well as upstream raw material price transmission, is a priority for the company [1] - The company emphasizes maintaining proactive communication with suppliers and customers to navigate the challenges posed by raw material price changes [1]

Core Viewpoint - ShenNan Circuit experienced a 4.25% increase in stock price on January 7, with a trading volume of 2.858 billion yuan, indicating strong market interest and activity in the stock [1]. Group 1: Financial Performance - For the period from January to September 2025, ShenNan Circuit achieved a revenue of 16.754 billion yuan, representing a year-on-year growth of 28.39% [2]. - The net profit attributable to shareholders for the same period was 2.326 billion yuan, reflecting a significant year-on-year increase of 56.30% [2]. - Cumulatively, the company has distributed 3.441 billion yuan in dividends since its A-share listing, with 1.744 billion yuan distributed over the past three years [2]. Group 2: Shareholder and Market Activity - As of September 30, 2025, the number of shareholders for ShenNan Circuit was 39,500, a decrease of 25.79% from the previous period, while the average number of circulating shares per person increased by 34.75% to 16,847 shares [2]. - On January 7, the company recorded a net financing buy of -91.16 million yuan, with a total financing balance of 12.12 billion yuan, which is 0.74% of the circulating market value and above the 90th percentile of the past year [1]. - The short selling activity on January 7 included 2,300 shares sold and 500 shares repaid, with a short selling balance of 754.4 thousand yuan, also above the 90th percentile of the past year [1]. Group 3: Institutional Holdings - As of September 30, 2025, Hong Kong Central Clearing Limited was the second-largest circulating shareholder, holding 21.7066 million shares, an increase of 7.4697 million shares from the previous period [3]. - The top ten circulating shareholders included several new entrants, such as Yongying Technology Smart Selection Mixed Fund A, which held 4.6218 million shares [3]. - Notable exits from the top ten circulating shareholders included Huaxia CSI 300 ETF and Jiashi CSI 300 ETF [3].

Core Viewpoint - Company is undergoing a strategic transformation driven by "overseas breakthroughs + deepening energy storage" to become a comprehensive energy service provider [1][4] Group 1: Overseas Expansion - Company announced that its wholly-owned subsidiary won a bid for a 2×450MW gas turbine combined cycle power plant operation and maintenance project in Cambodia, with a contract value of $2.08 billion and a service period of 14 years [2][3] - This project is seen as a milestone in the company's internationalization efforts, significantly expanding its business scale in the gas turbine operation and maintenance sector [3] Group 2: Energy Storage Transformation - Company has been focusing on energy storage as a core area of its strategic transformation, with plans to build a 100MW/200MWh independent energy storage station by 2026 and expand distributed photovoltaic and commercial energy storage businesses [4][5] - Despite being in a transitional phase with temporary losses, the company has shown signs of improving operational performance, with a 56.29% reduction in net losses year-on-year for the first three quarters of 2025 [5]

Group 1 - The core point of the news is that ShenNan Circuit experienced a stock price increase of 5.02%, reaching 246.10 CNY per share, with a trading volume of 930 million CNY and a turnover rate of 0.58%, resulting in a total market capitalization of 164.085 billion CNY [1] - ShenNan Circuit Co., Ltd. is located in Longgang District, Shenzhen, Guangdong Province, and was established on July 3, 1984. The company was listed on December 13, 2017, and its main business involves the research, production, and sales of printed circuit boards [1] - The revenue composition of ShenNan Circuit includes printed circuit boards (60.01%), packaging substrates (16.64%), electronic assembly (14.14%), other supplementary products (5.80%), and other products (3.40%) [1] Group 2 - According to data from the top ten heavy stocks of funds, one fund under Debon Fund holds ShenNan Circuit as a significant investment. Debon Fuxin A (001229) held 20,200 shares in the third quarter, accounting for 4.42% of the fund's net value, ranking as the tenth largest heavy stock [2] - Debon Fuxin A (001229) was established on April 27, 2015, with a latest scale of 77.9963 million CNY. The fund has achieved a return of 3.19% this year, ranking 3848 out of 8823 in its category; over the past year, it has returned 47.71%, ranking 2274 out of 8083; and since its inception, it has returned 96.46% [2]

Core Viewpoint - The company expects its packaging substrate business to generate a revenue of 1.74 billion yuan in the first half of 2025, with a gross margin of 15.15%, indicating a year-on-year decline in gross margin due to increased costs from raw materials and production ramp-up challenges [2] Group 1: Financial Performance - In the first half of 2025, the packaging substrate business is projected to achieve a revenue of 1.74 billion yuan [2] - The gross margin for the packaging substrate business is expected to be 15.15%, which represents a year-on-year decline [2] - The decline in gross margin is attributed to the ramp-up phase of the Guangzhou packaging substrate project and rising costs of raw materials such as gold salt [2] Group 2: Business Operations - The company anticipates significant improvement in the gross margin of its packaging substrate business by the third quarter of 2025, driven by increased demand for storage packaging substrates and improved capacity utilization [2] - The Guangzhou Guangxin factory is steadily progressing in its ramp-up phase, contributing to the expected improvement in gross margin [2] - The company's PCBA business operates under two sales models: Consign and Turnkey, which generally results in a gross margin slightly lower than the overall company gross margin due to the nature of the business [2]

1月6日，深南电路跌5.13%，截至发稿，报229.99元/股，成交12.12亿元，换手率0.77%，总市值1533.44 亿元。 截至发稿，黄星霖累计任职时间2年202天，现任基金资产总规模1.3亿元，任职期间最佳基金回报 63.51%， 任职期间最差基金回报4.06%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 数据显示，华富基金旗下1只基金重仓深南电路。华富数字经济混合A（018358）三季度持有股数1万 股，占基金净值比例为4.11%，位居第六大重仓股。根据测算，今日浮亏损失约12.43万元。 华富数字经济混合A（018358）成立日期2023年6月20日，最新规模3959.64万。今年以来收益1.9%，同 类排名4096/8816；近一年收益106.42%，同类排名148/8081；成立以来收益66.62%。 华富数字经济混合A（018358）基金经理为黄星霖。 资料显示，深南电路股份有限公司位于广东省深圳市龙岗区坪地街道盐龙大道163 ...

Group 1 - Maduro denies all charges from the U.S. and claims he is still the President of Venezuela [2] - The U.S. has accused Maduro of drug terrorism conspiracy, cocaine smuggling conspiracy, and possession of firearms [2] - Maduro states he was forcibly taken from his home in Caracas [2] Group 2 - China condemns the U.S. for violating Venezuela's sovereignty and international principles [3] - The U.S. is accused of undermining multilateralism and threatening peace in Latin America and the Caribbean [3] Group 3 - Venezuela's oil exports have nearly dropped to zero due to U.S. sanctions and blockade [4] - The Venezuelan oil company is reducing production and closing some oil fields due to accumulated inventory [4] - Shortages of diluents for blending heavy crude oil are further restricting production activities [4] Group 4 - Trump claims the U.S. must have complete access to Venezuela's resources and asserts U.S. control over the country [5][6] - The U.S. Vice President's residence was attacked, with one suspect arrested [6] Group 5 - High expectations for Chinese stocks with projected annual growth of 15% to 20% in 2026 and 2027 [8] - Corporate earnings in China are expected to grow by 14% and 12% in 2026 and 2027, respectively [8] - Factors driving growth include AI applications, international expansion, and policies to reduce internal competition [8]

Focus 1: Yingfang Micro - The company is planning a major asset restructuring by acquiring controlling stakes in Shanghai Xiaokeli Information Technology Co., Ltd., FIRST TECHNOLOGY CHINA LIMITED, and Shiqing Intelligent Technology (Shanghai) Co., Ltd. through a combination of share issuance and cash payment [1] - The transaction is expected to constitute a significant asset restructuring but will not involve related transactions or restructuring listings. The company's stock will be suspended from trading starting January 6, 2026 [1] Focus 2: Nanxing Co. and Yinglian Co. - Nanxing Co. expects to achieve a net profit of 90 million to 120 million yuan for 2025, recovering from a loss of 175 million yuan in the previous year. The significant profit increase is attributed to reduced goodwill impairment in 2024 [2] - Yinglian Co. anticipates a net profit of 32 million to 42 million yuan for 2025, compared to a loss of approximately 39.67 million yuan in the previous year, driven by growth in the fast-moving consumer goods metal packaging sector [2] Focus 3: Victory Energy - The company has completed its stock trading suspension review and will resume trading on January 6, 2026. No undisclosed significant information affecting stock prices was found during the review [3] Performance Highlights - Whirlpool expects a net profit of approximately 505 million yuan for 2025, a 150% increase from the previous year, due to ongoing transformation and efficiency improvements [4] - Taotao Automotive forecasts a net profit of 800 million to 850 million yuan for 2025, representing an 85.5% to 97.1% increase year-on-year, driven by enhanced operational efficiency and market demand [4] - China National Materials Technology anticipates a net profit of 1.55 billion to 1.95 billion yuan for 2025, a growth of 73.79% to 118.64% compared to the previous year, supported by improved product pricing and sales [4] Investment and Restructuring - Weigao Blood Products plans to issue shares to acquire 100% of Weigao Group Medical Polymer Co., Ltd. for 8.511 billion yuan, significantly enhancing the company's asset scale and profitability [6] - Haopeng Technology is set to raise up to 800 million yuan through a private placement to fund energy storage battery projects [6] Control Changes - Hengshi Technology's control has changed following agreements with New Base Information Technology Group, with the new controlling entity holding 9.55% of the total shares [7] Major Projects - Fulian Precision plans to invest 6 billion yuan in a project to produce 500,000 tons of high-end lithium iron phosphate for energy storage [10] - Penghui Energy's board approved plans to issue H-shares and list on the Hong Kong Stock Exchange [11] Other Announcements - The company intends to repurchase A-shares for employee stock ownership plans, with a total budget of 50 million to 100 million yuan [12] - The company reported a 14.75% year-on-year decline in pig sales, with a revenue drop of 36.06% due to market fluctuations [12]

Group 1 - Fulin Precision's subsidiary plans to invest 6 billion yuan to build a high-end lithium iron phosphate project with an annual production capacity of 500,000 tons [11] - Feiwo Technology has completed the acquisition of 60% of Xinsai Aerospace, focusing on metal 3D printing services for commercial aerospace [2] - Zhongcai Technology expects a net profit increase of 73.79% to 118.64% in 2025 [30] Group 2 - Hengrui Medicine has received approval for clinical trials of HRS9531 injection in combination with HRS-5817 injection for treating obesity [2] - Deyun Co. announced that its actual controller has been arrested for illegal public deposit collection, but the company's operations remain normal [3] - Hengshi Technology's control is set to change as it enters a strategic cooperation agreement with New Base Information Technology Group [4] Group 3 - Zhejiang Mining plans to acquire 100% of Alaigyr Company, which holds core assets in lead-silver mines [5][6] - Guizhou Tire intends to invest in a project in Morocco to produce 6 million semi-steel radial tires annually, with a total investment of 299 million USD [7] - Dongfang Zircon plans to invest in a project to produce 10,000 tons of high-purity composite zircon oxide for new energy batteries [8] Group 4 - Xingsheng Group has received a project designation notice from a North American electric vehicle manufacturer, with a total sales amount of approximately 7.8 billion yuan [18] - Jin Di Co. plans to acquire a 3.36% stake in Baoshilai New Materials Technology for 21.6 million yuan [10] - Huayi Technology has signed a strategic cooperation agreement with Fujian Fuyou University to enhance research and development in alloy materials [6] Group 5 - Juxing Technology expects a net profit increase of 5% to 20% in 2025 [23] - Huayou Cobalt anticipates a net profit increase of 40.8% to 55.24% in 2025 [24] - Chifeng Gold expects a net profit increase of approximately 70% to 81% in 2025 [25]