巨星科技（002444）(002444.SZ)披露2025年度业绩预告，公司预计归属于上市公司股东的净利润24.19 亿元至27.64亿元，同比增长5.00%至20.00%;扣除非经常性损益后的净利润23.09亿元至26.54亿元，同比 增长0.20%至15.20%。 ...

Group 1 - The company expects a net profit attributable to shareholders of 2,418.81 million yuan to 2,764.35 million yuan in 2025, representing a year-on-year growth of 5.00% to 20.00% [1] - The net profit after deducting non-recurring gains and losses is projected to be 2,308.81 million yuan to 2,654.35 million yuan, indicating a growth of 0.20% to 15.20% compared to the previous year [1] Group 2 - In 2025, the company's production and delivery pace was significantly impacted in the second quarter due to fluctuations in the international trade environment, although overseas production capacity is expected to normalize later [2] - Domestic production capacity continues to be negatively affected by tariffs, leading to a notable decline in industry sales as additional tariff costs have increased average selling prices [2] - The company is accelerating its internationalization and product innovation efforts, with new capacities in Vietnam and Thailand and significant growth in new products, particularly electric tools, expected to keep annual revenue roughly flat year-on-year [2] Group 3 - Despite some negative impacts from the RMB to USD exchange rate, the company's high level of internationalization and product innovation efficiency has significantly reduced the sensitivity of profitability to exchange rate fluctuations [2] - The increase in direct sales through cross-border e-commerce and new product sales is expected to effectively enhance the gross profit margin [2] - The company anticipates additional expenses of 10 million USD due to the relocation of the Arrow factory in the fourth quarter, along with foreign exchange losses affecting the net profit for that quarter [2] Group 4 - Recent new orders have shown a year-on-year increase, and the company plans to actively develop new businesses and products in 2026 to return to a reasonable growth range [2]

Core Viewpoint - Company expects earnings per share for 2025 to be between 2.025 yuan and 2.3143 yuan, reflecting the impact of international trade fluctuations and domestic production challenges [1] Group 1: Performance Forecast - In 2025, the company's production and delivery were significantly affected in Q2 due to severe fluctuations in the international trade environment, although overseas capacity is expected to normalize later [2] - The company anticipates that its revenue will remain stable year-on-year, driven by new capacities in Vietnam and Thailand, as well as significant growth in new products, particularly electric tools [2] Group 2: Financial Performance - For the first three quarters of 2025, the company reported a main revenue of 11.156 billion yuan, a year-on-year increase of 0.65%, and a net profit attributable to shareholders of 2.155 billion yuan, up 11.35% year-on-year [3] - The company’s gross profit margin stands at 33.08%, with investment income of 610 million yuan and financial expenses of -80.133 million yuan [3] Group 3: Future Outlook - The company has seen a year-on-year increase in new orders and plans to actively develop new businesses and products in 2026 to return to a reasonable growth range [2]

Core Viewpoint - Company expects a net profit attributable to shareholders of 2.419 billion to 2.764 billion yuan for the full year of 2025, reflecting challenges in production and delivery due to international trade fluctuations [1] Group 1: Performance Forecast - In 2025, the company's production and delivery were significantly impacted in Q2 due to severe fluctuations in the international trade environment, although overseas capacity is expected to normalize [2] - The company anticipates that its revenue will remain approximately flat year-on-year, driven by new production capacities in Vietnam and Thailand, as well as significant growth in new products, particularly electric tools [2] Group 2: Financial Impact - Despite negative impacts from the RMB to USD exchange rate, the company's high level of internationalization and product innovation has significantly reduced the sensitivity of profitability to exchange rate fluctuations [2] - The company expects an increase in gross margin due to the growth in direct sales through cross-border e-commerce and new product sales [2] - Additional costs of 10 million USD are anticipated due to the relocation of the US Arrow factory in Q4, along with foreign exchange losses affecting Q4 net profit [2] Group 3: Recent Performance - For the first three quarters of 2025, the company reported a main revenue of 11.156 billion yuan, a year-on-year increase of 0.65%, and a net profit attributable to shareholders of 2.155 billion yuan, up 11.35% year-on-year [3] - In Q3 2025, the company experienced a single-quarter main revenue of 4.129 billion yuan, a decline of 5.8% year-on-year, while net profit attributable to shareholders rose by 18.96% to 882 million yuan [3] - The company reported a debt ratio of 17.28%, investment income of 610 million yuan, financial expenses of -80.133 million yuan, and a gross margin of 33.08% [3] Group 4: Future Outlook - The company has seen a year-on-year increase in new orders and plans to actively develop new businesses and products in 2026 to return to a reasonable growth range [2]

Core Viewpoint - The company, Giant Star Technology, expects a net profit attributable to shareholders for the fiscal year 2025 to be between 2.419 billion yuan and 2.764 billion yuan, representing a year-on-year growth of 5.00% to 20.00% [1] Financial Performance - The basic earnings per share are projected to be between 2.0250 yuan and 2.3143 yuan [1] - Despite challenges such as fluctuations in the international trade environment, rising tariff costs, and exchange rate volatility, the company managed to maintain revenue levels year-on-year [1] Strategic Initiatives - The company accelerated its international expansion and launched new production capacities in Vietnam and Thailand [1] - Growth in sales of new products, particularly electric tools, contributed to the overall performance [1] Profitability Factors - The increase in gross profit margin was driven by product innovation and the growth of direct sales through cross-border e-commerce [1] - The net profit attributable to shareholders saw a year-on-year increase due to these factors [1]

Core Viewpoint - The company expects a net profit attributable to shareholders for the fiscal year 2025 to be between 2.419 billion yuan and 2.764 billion yuan, representing a year-on-year growth of 5.00% to 20.00% [1] Financial Performance - Basic earnings per share are projected to be between 2.0250 yuan and 2.3143 yuan [1] - Despite challenges such as fluctuations in the international trade environment, rising tariff costs, and exchange rate volatility, the company managed to maintain revenue levels year-on-year [1] Strategic Initiatives - The company accelerated its international expansion and launched new production capacities in Vietnam and Thailand [1] - Growth in sales of new products, particularly electric tools, contributed to the overall performance [1] Profitability Factors - The increase in gross margin was driven by product innovation and the growth of direct sales through cross-border e-commerce [1]

Core Viewpoint - The company, Juxing Technology, forecasts a net profit attributable to shareholders for 2025 to be between 2418.81 million and 2764.35 million yuan, representing a year-on-year increase of 5.00% to 20.00% [1] Group 1: Financial Performance - The expected net profit excluding non-recurring gains and losses for 2025 is projected to be between 2308.81 million and 2654.35 million yuan, with a year-on-year increase of 0.20% to 15.20% [1] - The company anticipates that overall revenue for the year will remain flat year-on-year due to the impact of new production capacities in Vietnam and Thailand, as well as significant growth in new products, particularly electric tools [1] Group 2: Market Conditions - The international trade environment has caused significant fluctuations, impacting the company's production and delivery schedules, particularly in the second quarter [1] - The negative effects of tariffs have raised average industry prices, leading to a notable decline in industry sales [1] Group 3: Strategic Initiatives - The company is accelerating its internationalization efforts and product innovation to mitigate the adverse effects of the trade environment [1] - New orders have shown a year-on-year increase, and the company plans to actively develop new businesses and products in 2026 to regain reasonable growth [1] Group 4: Currency Impact - The depreciation of the RMB against the USD has had some negative effects on the company; however, its high level of internationalization and product innovation has significantly reduced the impact of exchange rate fluctuations on profitability [1] - Increased sales from cross-border e-commerce and new products have effectively improved the gross margin [1] Group 5: Future Outlook - The company expects additional costs of 10 million USD due to the relocation of the Arrow factory in the fourth quarter, along with foreign exchange losses affecting the net profit attributable to shareholders for that quarter [1]

Core Viewpoint - The company, Giant Technology, expects a net profit attributable to shareholders for the fiscal year 2025 to be between 2.419 billion to 2.764 billion yuan, representing a year-on-year growth of 5.00% to 20.00% [1] Group 1: Financial Performance - The company anticipates a net profit for 2025 of 2.419 billion to 2.764 billion yuan, which indicates a growth of 5.00% to 20.00% compared to the previous year [1] - Despite challenges such as fluctuations in the international trade environment, rising tariff costs, and exchange rate volatility, the company managed to maintain revenue levels year-on-year [1] Group 2: Strategic Initiatives - The company is accelerating its international expansion and is focusing on new production capacities in Vietnam and Thailand [1] - The growth in sales of new products, particularly in the electric tools segment, has contributed to the company's revenue stability [1] Group 3: Profitability Factors - The increase in gross profit margin is attributed to product innovation and the growth of direct sales through cross-border e-commerce [1]

证券代码：002444 证券简称：巨星科技 公告编号：2026-001 杭州巨星科技股份有限公司 一、本期业绩预计情况 1、业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日。 2、业绩预告情况：自愿性业绩预告 （1）以区间数进行业绩预告的 单位：万元 | | 本会计年度 | | | 上年同期 | | | --- | --- | --- | --- | --- | --- | | 归属于上市公司股东 | | 241,880.55 | ～ | 276,434.91 | 230,362.43 | | 的净利润 | 比上年同期增长 | 5.00% | ～ | 20.00% | | | 扣除非经常性损益后 | | 230,880.55 | ～ | 265,434.91 | 230,410.71 | | | 比上年同期增长 | 0.20% | ～ | 15.20% | | | 基本每股收益（元/ | | 2.0250 | ～ | 2.3143 | 1.9286 | | 项 目 的净利润 股） | | | | | | 二、与会计师事务所沟通情况 本次业绩预告未经过注册会计师预审计。公司就业绩预 ...

Core Viewpoint - The humanoid robot industry is transitioning from "technology demonstration" to "commercialization," with Yushu Technology positioned as a leading player in the market, attracting significant attention from capital markets [1][2]. Group 1: Yushu Technology's Listing Logic - Yushu Technology possesses clear technological labels and industry status in the humanoid robot field, with breakthroughs in motion control, integration, and cost control, making its products viable for various applications [2]. - The capital market's focus on Yushu Technology extends beyond the company's growth potential to its role as a valuation anchor for the humanoid robot sector, potentially influencing the pricing logic of the entire industry chain upon its successful listing [2]. Group 2: Overview of Yushu Technology Concept Stocks - Yushu Technology concept stocks can be categorized into two types based on their benefit logic and sustainability: equity or quasi-equity beneficiaries and industry chain collaboration beneficiaries [3]. - The first category includes companies that hold direct or indirect equity in Yushu Technology, benefiting from capital appreciation post-listing, while the second category consists of companies that may receive ongoing orders as Yushu Technology's products scale up [3]. - The key to the industry chain concept lies in the "real supply ratio" and "sustainability," where only clear supply relationships and quantifiable revenue contributions can support long-term valuation appreciation [3]. Group 3: Beneficiary Paths and Analysis Matrix - The first category of beneficiaries includes companies like Shoucheng Holdings and Juxing Technology, which have direct equity ties to Yushu Technology, while the second category includes suppliers like Changsheng Bearing and Baotong Technology, which have confirmed orders [4][5]. - Investors should focus on the certainty of benefits, with a tiered approach: the first tier includes direct asset revaluation companies, the second tier includes verified business collaborators, and the third tier includes industry leaders benefiting from overall market growth [6][7]. Group 4: Shoucheng Holdings as a Central Beneficiary - Shoucheng Holdings is positioned as a central beneficiary in the Yushu Technology listing logic, having made early and sustained strategic investments in Yushu Technology, with a significant shareholding [6]. - The company benefits from three unique logic paths: direct equity value revaluation post-listing, thematic valuation premiums in the market, and long-term synergy from its "capital + scene" platform as Yushu Technology commercializes [7][8]. Group 5: Investment Strategy and Market Monitoring - Investors should prioritize companies with clear equity relationships or those with substantial orders, while remaining cautious of companies relying heavily on market sentiment rather than actual performance [8]. - Continuous monitoring of Yushu Technology's listing progress and related company announcements is crucial for navigating this thematic investment landscape [8].