Core Viewpoint - Jiangbolong expects a significant increase in net profit for 2025, driven by a recovery in storage prices and strong demand from AI server markets [1][2] Group 1: Financial Performance - Jiangbolong forecasts a net profit attributable to shareholders of 1.25 billion to 1.55 billion yuan for 2025, representing a year-on-year growth of 150.66% to 210.82% [1] - The company's non-GAAP net profit is projected to be between 1.13 billion and 1.35 billion yuan, reflecting a year-on-year increase of 578.51% to 710.60% [1] - The company transitioned from a net loss of 152 million yuan in Q1 2024 to a net profit of 1.67 billion yuan in Q2 and 6.98 billion yuan in Q3, with an expected Q4 profit of 537 million to 837 million yuan [1] Group 2: Market Dynamics - The recovery in storage prices began after a low point in Q1 2024, with significant increases attributed to surging demand for AI servers and a shift in production capacity towards enterprise-level products [1] - According to TrendForce, global DRAM prices are expected to rise by 8% to 13% quarter-on-quarter in Q4 2025, with increases of 13% to 18% when including HBM [1] - The current cycle of rising storage chip prices is anticipated to last until mid-2027, with some high-end products potentially extending to 2028 [1] Group 3: Company Strengths - Jiangbolong is the second-largest independent memory manufacturer globally, offering a comprehensive range of storage solutions, including embedded storage, solid-state drives, mobile storage, and memory modules [2] - The company has established partnerships with several wafer foundries and leading smart terminal manufacturers, enhancing its market position [2] - Jiangbolong's self-developed main control chips have seen deployment exceed 100 million units by the end of Q3 2025, with multiple flagship products achieving mass application [2] Group 4: Research and Development - Jiangbolong has consistently increased its R&D expenditures, reaching 701 million yuan by Q3 2025, following previous investments of 356 million yuan, 594 million yuan, and 910 million yuan in the preceding years [3] - The company announced a fundraising of 3.7 billion yuan in early 2025 to support high-end storage research and development projects, particularly in the AI sector [3]

Core Viewpoint - The data indicates significant outflows of main funds from various stocks, with notable declines in share prices across multiple sectors, particularly in the rare metals and non-ferrous metals industries [1][2][3] Group 1: Stock Performance and Fund Outflows - BlueFocus Media experienced a fund outflow of 1.638 billion yuan, with a share price decline of 3.59% [2] - Northern Rare Earth saw a fund outflow of 1.321 billion yuan, with a share price drop of 8.72% [2] - Zijin Mining reported a fund outflow of 1.256 billion yuan, with a decrease in share price of 8.33% [2] - Tongling Nonferrous Metals had a fund outflow of 1.232 billion yuan, with a share price decline of 10.01% [2] - Luoyang Molybdenum experienced a fund outflow of 1.128 billion yuan, with a share price drop of 9.21% [2] Group 2: Sector Analysis - The rare metals sector, represented by Northern Rare Earth and Luoyang Molybdenum, is facing significant fund outflows and price declines [2][3] - The non-ferrous metals sector, including companies like Zijin Mining and Tongling Nonferrous Metals, is also experiencing substantial outflows, indicating potential challenges in this industry [2][3] - The energy metals sector, represented by Tianqi Lithium and Ganfeng Lithium, shows notable fund outflows, with share price declines of 8% and 7.46% respectively [2][3]

January 29, 2026 03:30 PM GMT Shenzhen Longsys Electronics Co Ltd | Asia Pacific M Update Margin Gains Amid Memory Supercycle Reaction to earnings Unchanged In-line Meaningful revision higher Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Stay OW. The strong 4Q results are partially in the price, as the stock is up 46% YTD vs. MSCI China IT up 24%. We expect continued margin improvement into 1H26 to drive EPS upward revisions amid severe memory supply constr ...

Group 1: Company Insights - Jiangbolong (301308.SZ) expects a net profit attributable to shareholders of 1.25 billion to 1.55 billion yuan for 2025, representing a year-on-year growth of 150.66% to 210.82%. The recovery in storage prices and increased demand from AI servers contributed to this growth [2] - SanDisk reported a sales revenue of 3.03 billion USD for its second fiscal quarter of 2026, a year-on-year increase of 61%. Adjusted earnings per share reached 6.2 USD, up 404% from the previous year, exceeding market expectations [2] - Helin Micro-Nano (688661.SH) anticipates a net profit of 26 million to 33 million yuan for 2025, indicating a turnaround from losses. The growth is driven by increased demand for high-performance computing chips and optimized business structure [3] Group 2: Industry Trends - The storage chip industry is currently experiencing a price increase due to factors such as surging AI demand and supply-side contraction, leading to a performance boom for global storage chain enterprises [3] - The semiconductor equipment and materials sector is identified as a key area for domestic substitution, benefiting from the AI revolution and ongoing technological advancements [4] - The semiconductor equipment ETF (562590) focuses on the upstream semiconductor sector, with significant allocations to semiconductor equipment (63%) and materials (24%), indicating a strong market focus [4]

从基金十大重仓股角度 数据显示，东方基金旗下1只基金重仓江波龙。东方龙混合（400001）四季度持有股数2.71万股，占基 金净值比例为4.13%，位居第六大重仓股。根据测算，今日浮亏损失约51.33万元。 资料显示，深圳市江波龙电子股份有限公司位于深圳市前海深港合作区南山街道听海大道5059号鸿荣源 前海金融中心二期B座2001、2201、2301,中国香港新界沙田安睦街28号永得利中心7楼B室，成立日期 1999年4月27日，上市日期2022年8月5日，公司主营业务涉及半导体存储应用产品的研发、设计与销 售。主营业务收入构成为：存储产品及相关99.99%，其他(补充)0.01%。 1月30日，江波龙跌5.28%，截至发稿，报339.86元/股，成交31.25亿元，换手率3.26%，总市值1424.51 亿元。 责任编辑：小浪快报 东方龙混合（400001）成立日期2004年11月25日，最新规模1.61亿。今年以来收益21.52%，同类排名 211/8872；近一年收益44.37%，同类排名2713/8126；成立以来收益621.75%。 东方龙混合（400001）基金经理为许文波。 截至发稿，许文波累计 ...

2026年1月29日，截至收盘，沪指涨0.16%，报收4157.98点；深成指跌0.3%，报收14300.08点；创业板 指跌0.57%，报收3304.51点。科创半导体ETF（588170）跌4.39%，半导体设备ETF华夏（562590）跌 4.39%。 隔夜外盘：截至收盘，道琼斯工业平均指数涨0.11%；纳斯达克综合指数跌0.63%；标准普尔500种股票 指数跌0.13%。费城半导体指数涨0.16%，恩智浦半导体跌2.72%，美光科技涨0.12%，ARM跌1.39%， 应用材料涨1.36%，微芯科技跌1.15%。 行业资讯： 1江波龙（301308）(301308.SZ)公告称，预计2025年归属于上市公司股东的净利润为12.5亿元～15.5亿 元，比上年同期增长150.66%～210.82%。报告期内，存储价格在一季度触底后企稳回升，三季度末因 AI服务器需求爆发及原厂产能向企业级产品倾斜，导致供给进一步失衡，存储价格持续上涨。公司依 托高端产品布局、海外业务拓展及自有品牌优势，上半年实现扭亏为盈，下半年盈利水平稳步提升，第 四季度扣非净利润约为6.5亿元至8.7亿元。 2.美国存储芯片制造商闪迪公布 ...

Market Overview - On January 30, A-shares opened lower across the board, with the Shanghai Composite Index down 25.99 points, a decrease of 0.63%, closing at 4131.99 points [1] - The Shenzhen Component Index fell by 85.94 points, down 0.6%, to 14214.14 points [1] - The CSI 300 Index decreased by 30.79 points, a drop of 0.65%, closing at 4723.08 points [1] - The ChiNext Index declined by 2.97 points, down 0.09%, to 3301.54 points [1] - The STAR 50 Index fell by 6.13 points, a decrease of 0.41%, closing at 1501.51 points [1] Company News - Guizhou Moutai denied rumors of participating in SpaceX's Series A financing, with its stock closing at 1437.72 yuan per share, up 8.61%, and a market cap exceeding 1.8 trillion yuan [2] - BlueFocus expects a net profit of 1.80 billion to 2.20 billion yuan for 2025, recovering from a loss of 2.9 billion yuan in the previous year [2] - Gree Harmony anticipates a net profit of 1.15 billion to 1.30 billion yuan for 2025, representing a year-on-year growth of 104.74% to 131.45% [2] - Jiangbolong forecasts a net profit of 12.50 billion to 15.50 billion yuan for 2025, an increase of 150.66% to 210.82% compared to the previous year [2] - Shenghe Resources expects a net profit of 7.90 billion to 9.10 billion yuan for 2025, a year-on-year increase of 281.28% to 339.20% [3] - Shengyi Electronics projects a net profit of 14.31 billion to 15.13 billion yuan for 2025, a growth of 331.03% to 355.88% [3] - Century Huatong anticipates a net profit of 55.50 billion to 69.80 billion yuan for 2025, a significant increase of 357.47% to 475.34% [4] - Sichuan Gold expects a net profit of 4.2 billion to 4.8 billion yuan for 2025, a growth of 69.23% to 93.40% [5] Industry Insights - The AI application sector is experiencing significant developments, with multiple new models being released, including Alibaba's Qwen3-Max-Thinking and Baidu's Wenxin 5.0 [6] - International copper prices surged, reaching a historic high, which also positively impacted gold and silver prices [7] - The rare earth permanent magnet sector is seeing price increases due to geopolitical risks and U.S. government investments in domestic rare earth companies [8] - The humanoid robot sector is advancing, with a new testing platform launched in Beijing, capable of producing 5,000 units annually [9] - Solid-state batteries are gaining attention as humanoid robots approach commercialization, with demand expected to grow significantly by 2035 [10] - OpenAI is reportedly in talks for substantial investments from major tech companies, indicating strong interest in AI infrastructure [11] - The European chemical industry is facing significant challenges, with a dramatic increase in production capacity closures and a decline in investment [12]

Core Viewpoint - Several storage companies have reported significant profit increases for 2025, driven by a price surge in the industry [1] Group 1: Company Performance - Jiangbolong announced an earnings forecast for 2025, expecting a net profit attributable to shareholders of 1.25 billion to 1.55 billion yuan, representing a year-on-year growth of 150.66% to 210.82% [1] - Other storage companies, including Baiwei Storage, Zhaoyi Innovation, Demingli, and Langke Technology, are also expected to report profit increases due to the same price surge [1]

Group 1 - The State Council issued a work plan to optimize and expand service supply, aiming to enhance service consumption and support high-quality economic development [2] - The work plan focuses on key areas such as transportation services, housekeeping services, and inbound consumption, emphasizing innovation and talent development [2] - The commercial aerospace industry is being prioritized, with plans to develop new fields like space resource development and space tourism during the 14th Five-Year Plan [3] Group 2 - Shanghai aims to become a national hub for the commercial aerospace industry, targeting an industry scale of approximately 100 billion yuan by 2027 [4] - The Beijing humanoid robot innovation center has launched a testing platform, capable of producing 5,000 humanoid robots annually [4] - The Kunshan AI industry fund has been established with a total scale of 5 billion yuan, focusing on AI core hardware and infrastructure [5] Group 3 - The market is experiencing mixed performance, with major U.S. indices showing slight fluctuations [6] - Microsoft shares dropped 10%, marking the largest single-day decline since March 2020, due to concerns over high AI capital expenditures [8] - Gold prices reached a record high of $5,594.82 per ounce before settling at $5,389.19, with a monthly increase of approximately 24% [9]

Core Insights - The article highlights significant profit forecasts for various companies in 2025, indicating a trend of recovery and growth across multiple sectors, with some companies projecting substantial increases in net profit compared to the previous year. Company Performance Forecasts - **Beimo High-Tech**: Expected net profit for 2025 is between 190 million to 220 million yuan, a year-on-year increase of 1076.16% to 1261.87% [2] - **Jiangfeng Electronics**: Plans to acquire control of Kaide Quartz, with stock suspension starting January 30 [3] - **ST Aowei**: Received a notice of termination of listing due to market capitalization falling below 500 million yuan for 20 consecutive trading days [4] - **GaoDe Infrared**: Forecasted net profit of 700 million to 900 million yuan for 2025, recovering from a loss of 447 million yuan in the previous year [6] - **Bingchuan Network**: Expected net profit of 436 million to 516 million yuan, recovering from a loss of 247 million yuan [6] - **BlueFocus**: Anticipated net profit of 180 million to 220 million yuan, recovering from a loss of 291 million yuan [7] - **Godewei**: Projected net profit of 125 million to 162 million yuan, turning from loss to profit [6] - **Zhongyida**: Expected net profit of 51.23 million yuan, recovering from a loss [8] - **Helin Micro-Nano**: Forecasted net profit of 26 million to 33 million yuan, turning from loss to profit [8] - **Zhongke Sanhuan**: Expected net profit of 80 million to 120 million yuan, a year-on-year increase of 566.23% to 899.35% [9] - **Beilu Pharmaceutical**: Projected net profit of 87 million to 130 million yuan, a year-on-year increase of 537.28% to 852.26% [9] - **Light Media**: Expected net profit of 1.5 billion to 1.9 billion yuan, a year-on-year increase of 413.67% to 550.66% [9] - **Zhezhong Co.**: Forecasted net profit of 360 million to 500 million yuan, a year-on-year increase of 392.14% to 583.53% [10] - **Hailanxin**: Expected net profit of 40 million to 60 million yuan, a year-on-year increase of 387.47% to 631.2% [10] - **Jin Control Power**: Projected net profit of 155 million to 195 million yuan, a year-on-year increase of 383.21% to 507.9% [11] - **Century Huatong**: Expected net profit of 5.55 billion to 6.98 billion yuan, a year-on-year increase of 357.47% to 475.34% [12] - **Chunxue Food**: Forecasted net profit of 36 million to 43 million yuan, a year-on-year increase of 340.90% to 426.63% [13] - **Shirong Zhaoye**: Expected net profit of 126 million to 186 million yuan, a year-on-year increase of 236.77% to 397.13% [13] - **Ningbo Yunsheng**: Projected net profit of 280 million to 380 million yuan, a year-on-year increase of 194.49% to 299.67% [14] - **Jiangbolong**: Expected net profit of 1.25 billion to 1.55 billion yuan, a year-on-year increase of 150.66% to 210.82% [16] - **China Shipbuilding**: Forecasted net profit of 7 billion to 8.4 billion yuan, a year-on-year increase of 65.89% to 99.07% [17] Fundraising and Restructuring - **Beijing Lier**: Plans to raise no more than 1.034 billion yuan through a private placement [21] - **Tongfei Co.**: Plans to raise no more than 1.2 billion yuan through a private placement [21] - **Muxi Co.**: Plans to provide up to 200 million yuan in loans to its subsidiary for GPU development [23] - **Wanhua High-Tech**: Haihua Group will become an indirect controlling shareholder through a cash increase of 4.998 billion yuan [23]