Core Viewpoint - JunDa Co., Ltd. (002865) expects a net loss attributable to shareholders of 1.2 billion to 1.5 billion yuan for the fiscal year 2025, compared to a loss of 591 million yuan in the same period last year [1] Industry Overview - The global photovoltaic (PV) installed capacity continues to grow significantly, with particularly strong demand for PV cells in overseas markets [1] - However, the industry is still at the bottom of the cycle due to supply-demand imbalances and poor price transmission along the main industrial chain, leading to operational pressures and temporary losses for companies [1] Company Performance - The company plans to make asset impairment provisions based on a cautious principle, which will have a certain impact on current performance [1] - Despite the challenges of the industry adjustment cycle, the company is committed to advancing its globalization strategy, with overseas sales accounting for over 50%, establishing itself as a core supplier of PV cells in overseas markets [1] Strategic Developments - The company successfully listed on the Hong Kong Stock Exchange in May 2025, becoming the first in the PV industry to achieve dual-platform listing (A+H shares), providing strong capital support for long-term sustainable business development [1] - The company is also investing in partnerships to cultivate new business growth points [1] Future Outlook - The company will continue to strengthen its core competitiveness in the PV cell business, deepen its global strategic layout, and actively explore new business growth points to promote operational performance recovery and long-term sustainable growth [1]

Core Viewpoint - The company, Junda Co., Ltd. (stock code: 02865), expects a net loss attributable to shareholders of 1.2 billion to 1.5 billion yuan for the fiscal year 2025, compared to a loss of 591 million yuan in the previous year [1] Industry Overview - The global photovoltaic (PV) installed capacity continues to grow significantly, with particularly strong demand for PV cells in overseas markets [1] - Despite the high growth in demand, the industry is experiencing an imbalance in supply and demand, remaining at the bottom of the cycle [1] Company Performance - The company is facing operational pressure due to multiple factors, including poor price transmission along the main industry chain, leading to a phase of loss [1] - The company plans to make asset impairment provisions based on a cautious principle, which will impact current performance [1] Strategic Initiatives - In response to the challenges of the industry adjustment cycle, the company is committed to advancing its globalization strategy, with overseas sales accounting for over 50% of total sales [1] - The company has become a core supplier of PV cells in overseas markets and is simultaneously promoting local capacity layout in these regions [1] Capital Market Developments - The company successfully listed on the main board of the Hong Kong Stock Exchange in May 2025, becoming the first in the PV industry to achieve dual-platform listing (A+H shares), providing strong capital support for long-term sustainable business development [1] Future Outlook - The company will continue to strengthen its core competitiveness in the PV cell business, deepen its global strategic layout, and actively explore new business growth points to drive operational performance recovery and long-term sustainable growth [1]

Group 1: North Rare Earth - North Rare Earth expects a net profit of 2.176 billion to 2.356 billion yuan for 2025, representing a year-on-year increase of 116.67% to 134.60% [1] - The company has achieved a significant reduction in inventory for lanthanum and cerium products, with sales exceeding production for the first time [1] - Key products such as rare earth metals, functional materials, and permanent magnet motors have all seen varying degrees of growth in production and sales [1] Group 2: Victory Technology - Victory Technology forecasts a net profit of 4.16 billion to 4.56 billion yuan for 2025, marking a year-on-year growth of 260.35% to 295% [2] - The company has positioned itself as a core partner for leading tech firms in AI computing and data center upgrades, with several high-end products achieving large-scale production [2] - The shift towards high-value, high-complexity products has significantly improved the company's product mix and overall performance [2] Group 3: Lanke Technology - Lanke Technology anticipates a net profit of 2.15 billion to 2.35 billion yuan for 2025, reflecting a year-on-year increase of 52.29% to 66.46% [3] - The company has seen a notable increase in the shipment volume of interconnect chips, driven by strong demand in the AI sector [3] Group 4: Cambridge Technology - Cambridge Technology projects a net profit of 252 million to 278 million yuan for 2025, with a year-on-year increase of 51.19% to 66.79% [4] - The growth is primarily driven by the expansion of its core businesses, particularly in high-speed optical modules, which have benefited from AI and data center demands [4] Group 5: Junda Co., Ltd. - Junda Co., Ltd. expects a net loss of 1.2 billion to 1.5 billion yuan for 2025, attributed to an imbalance in supply and demand within the photovoltaic industry [5] - The company is facing operational pressures despite strong global demand for photovoltaic batteries, leading to a phase of significant losses [5] Group 6: Huazhen Hotel - Huazhen Hotel's controlling shareholder is planning a merger and restructuring, which may lead to a change in the actual controller to the Hunan Provincial State-owned Cultural Assets Supervision and Administration Commission [7]

对于业绩变动原因，钧达股份表示，全球光伏装机量延续高增长态势，海外市场光伏电池需求尤为旺 盛，但行业供需失衡仍处周期底部，叠加主产业链价格传导不畅等多重因素影响，公司经营承压，业绩 出现阶段性亏损。同时，公司依据谨慎性原则拟计提资产减值准备，对本期业绩有一定影响。 北京商报讯（记者 王蔓蕾）1月16日晚间，钧达股份（002865）发布2025年度业绩预告显示，公司预计 全年实现归属净利润亏损12亿—15亿元，上年同期为亏损5.91亿元。 ...

Group 1 - Su Dawei Ge's wholly-owned subsidiary plans to invest in a fund focusing on semiconductor, new energy, AI, and aerospace sectors, contributing 20 million yuan for a 10.2302% stake [2] - Shimao Energy terminates plans for a change in control after failing to reach consensus on key terms, with stock resuming trading on January 19 [3] - Huatian Hotel's controlling shareholder is planning a merger and restructuring, potentially changing the actual controller to the Hunan Provincial State-owned Cultural Assets Supervision and Administration Commission [4] Group 2 - Jinpu Titanium's subsidiary Xuzhou Titanium will cease production due to intensified market competition, which is expected to significantly impact revenue in 2026 [5] - Dingxin Communications' deputy general manager is under investigation by the CSRC for suspected short-term trading of company stock, but it will not affect the company's operations [6] - Xinhang New Materials plans to acquire 51% of Hairete for 12.8826 million yuan to explore new growth points [7] Group 3 - Hualan Co.'s controlling shareholder raises the upper limit of its share buyback plan from 58.08 yuan to 86.66 yuan per share [8] - Wanhua Chemical's MDI Phase II facility has resumed normal production after maintenance [9] - Junsheng Electronics introduces a strategic investor, with a 1 billion yuan investment aimed at reducing overall debt [10] Group 4 - Jiangbolong announces five shareholders plan to transfer 3% of the company's shares through a pricing inquiry [11] - Haitai Technology expects a net profit increase of 226.86% to 323.97% in 2025, driven by high industry demand and increased orders [13] - Northern Rare Earth anticipates a net profit increase of 116.67% to 134.6% in 2025 due to successful market expansion [14] Group 5 - Lanke Technology forecasts a net profit increase of 52.29% to 66.46% in 2025, benefiting from the AI industry trend [15] - Keda expects a net profit increase of 52.21% to 67.43% in 2025, driven by growth in data center and new energy sectors [16] - Cambridge Technology predicts a net profit increase of 51% to 67% in 2025, supported by strong demand in core business areas [17] Group 6 - China Electric Research anticipates a net profit of 533 million yuan in 2025, a 14.04% increase year-on-year [18] - China Automotive Research expects a net profit of 1.06 billion yuan in 2025, a 17.85% increase year-on-year [19] - Zhongcheng Co. forecasts a net profit of 276 million to 414 million yuan in 2025, recovering from a previous loss [20] Group 7 - Junda Co. expects a net loss of 1.2 billion to 1.5 billion yuan in 2025, worsening from a previous loss of 591 million yuan [21] - Guangdian Network anticipates a net loss of 1.29 billion to 1.55 billion yuan in 2025, attributed to declining traditional business revenue [22] - Jiugang Hongxing predicts a net loss of approximately 1.879 billion yuan in 2025, an improvement from a previous loss of 2.617 billion yuan [23] Group 8 - Jinbo Co. expects a net loss of around 1.4 billion yuan in 2025, worsening from a previous loss of 815 million yuan [24] - Dongjiang Environmental anticipates a net loss of 1.05 billion to 1.35 billion yuan in 2025, due to ongoing industry adjustments [25] - Daqing Energy forecasts a net loss of 1 billion to 1.3 billion yuan in 2025, despite improvements in production costs [26] Group 9 - Dongzhu Ecology expects a net loss of 935 million to 1.135 billion yuan in 2025, impacted by macroeconomic factors [27] - Weiyuan Co. anticipates a net loss of 950 million to 1.05 billion yuan in 2025, turning from profit to loss [28] - Huanghe Xuanfeng predicts a net loss of 850 million yuan in 2025, an improvement from a previous loss of 983 million yuan [29] Group 10 - Fushun Special Steel expects a net loss of 770 million to 870 million yuan in 2025, turning from profit to loss [30] - China First Heavy Industries anticipates a net loss of 310 million to 460 million yuan in 2025, significantly reducing losses compared to the previous year [31] - Jishi Media forecasts a net loss of 364 million to 455 million yuan in 2025, with overall revenue expected to remain stable [33] Group 11 - Guangxi Energy expects a net loss of 170 million to 220 million yuan in 2025, turning from profit to loss [34] - Baike Bio anticipates a net loss of 220 million to 280 million yuan in 2025, turning from profit to loss due to declining vaccine sales [35] - Zhongtai Auto expects to remain in a loss position for 2025, with a projected positive net asset value by year-end [36] Group 12 - Nasda anticipates a loss for 2025 due to significant asset sales and industry policy adjustments [37] - Rongsheng Development expects to report a loss for 2025, with the amount not exceeding the previous year's audited net assets [38] Group 13 - China National Materials signs a contract worth 299 million Canadian dollars for engineering services in Canada [40] - Dayu Water-saving's subsidiary wins a project worth 133 million yuan for water source guarantee engineering [41] - Hailu Heavy Industry reports new orders totaling 1.941 billion yuan for 2025 [42]

刚成立7天的公司，就被光伏巨头砸了3000万！就因为它能把光伏板送上天？！ 现在光伏企业有多内卷？卷到人家直接上天了！ 钧达股份也说了，这是从 "地面光伏"向"太空光伏"的战略延伸，把握低轨卫星组网和太空算力的机 遇。 翻译一下就是：未来天上会有成千上万颗卫星，每颗都得用电吧？太空里也没插座，最好的供电方案不 就是太阳能吗？ 这市场，想象空间直接拉满了。 消息一出，钧达股份的股价应声冲高。截至今天收盘，每股报收89.7元，全天涨幅8.57%，再创新高。 不过值得一提的是，就在宣布进军太空之前，公司还披露了一则减持计划：控股股东锦迪科技计划在未 来3个月内减持872.5万股。 你还在琢磨怎么把光伏板铺满沙漠的时候，有的公司已经开始计划把电池板铺到太空里了。昨天晚上， 钧达股份宣布豪掷3000万，投了一家刚成立7天的公司-上海星翼芯能科技有限公司！这找项目的速度， 比火箭发射都快！ 更巧的是，去年末，另一家上市公司卖视讯系统和显示屏的苏州科达也宣布，要搞自己的卫星，跨界进 军商业航天。 地面生意太挤了，人家要去太空开辟新战场了！ 当地面竞争进入白热化，聪明的玩家已经瞄准太空了。商业航天+光伏的跨界组合拳，直接把市 ...

Core Viewpoint - The company, Junda Co., Ltd. (002865.SZ), anticipates a loss of 1.2 billion to 1.5 billion yuan in 2025, with a non-recurring loss projected between 1.4 billion and 1.8 billion yuan due to industry challenges and operational pressures [1] Industry Overview - The global photovoltaic (PV) installed capacity continues to grow significantly, with particularly strong demand for PV cells in overseas markets [1] - Despite the high growth in demand, the industry is experiencing an imbalance between supply and demand, remaining at the bottom of the cycle [1] Company Performance - The company is facing operational challenges leading to a temporary phase of losses, influenced by multiple factors including poor price transmission along the main industry chain [1] - The company plans to make asset impairment provisions based on a cautious principle, which will impact its current performance [1] Strategic Initiatives - In response to the industry's adjustment cycle, the company is committed to advancing its globalization strategy, with overseas sales now accounting for over 50% of its total sales [1] - The company has become a core supplier of PV cells in overseas markets and is simultaneously working on localizing its production capacity abroad [1] Capital Market Developments - The company successfully listed on the main board of the Hong Kong Stock Exchange in May 2025, becoming the first in the photovoltaic industry to achieve dual-platform listing (A+H shares), which provides strong capital support for its long-term sustainable development [1] Growth Opportunities - The company is also focusing on cultivating new business growth points through investment collaborations [1]

每经AI快讯，1月16日，钧达股份（002865）公告，预计2025年度归属于上市公司股东的净利润亏损12 亿元~15亿元，上年同期亏损5.91亿元。扣除非经常性损益后的净利润亏损14亿元~18亿元，上年同期亏 损11.18亿元。基本每股收益亏损4.54元/股~5.67元/股，上年同期亏损2.6元/股。 ...

报告期内，全球光伏装机量延续高增长态势，海外市场光伏电池需求尤为旺盛，但行业供需失衡仍处周 期底部，叠加主产业链价格传导不畅等多重因素影响，公司经营承压，业绩出现阶段性亏损。同时，公 司依据谨慎性原则拟计提资产减值准备，对本期业绩有一定影响。 人民财讯1月16日电，钧达股份（002865）1月16日公告，预计2025年度归属于上市公司股东的净利润亏 损12亿元—15亿元，上年同期亏损5.91亿元。 ...

钧达股份公告，预计2025年度归属于上市公司股东的净利润亏损12亿元～15亿元，上年同期亏损5.91亿 元。扣除非经常性损益后的净利润亏损14亿元～18亿元，上年同期亏损11.18亿元。基本每股收益亏损 4.54元/股～5.67元/股，上年同期亏损2.6元/股。全球光伏装机量延续高增长态势，海外市场光伏电池需 求尤为旺盛，但行业供需失衡仍处周期底部，叠加主产业链价格传导不畅等多重因素影响，公司经营承 压，业绩出现阶段性亏损。同时，公司依据谨慎性原则拟计提资产减值准备，对本期业绩有一定影响。 ...