Latest update on major events announcements of Shanghai and Shenzhen listed companies on the evening of January 30

Many listed companies in the Shanghai and Shenzhen markets released company announcements on the evening of January 30. Below is a summary of important announcements.

【Major Events】

Xinrui Co., Ltd.: Plans to raise no more than 1.316 billion yuan through a private placement for high-performance CNC tool blade industrial park project and others

Xinrui Co., Ltd. (688257) announced on January 30 that it plans to raise no more than 1.316 billion yuan through a private placement. The net proceeds after deducting related issuance expenses will be fully used for the high-performance CNC tool blade industrial park project, high-performance rock drilling tools production project, precision tool R&D and testing center, headquarters management center construction project, and to supplement working capital.

Liyang Chip: Plans to raise no more than 970 million yuan for Dongcheng Liyang Chip integrated circuit testing project and others

Liyang Chip (688135) announced on January 30 that it intends to raise no more than 970 million yuan, with the net proceeds after expenses to be used for Dongcheng Liyang Chip integrated circuit testing project, wafer laser cutting project (Phase I), heterogenous stacking advanced packaging process R&D project, to supplement working capital and repay bank loans.

Tianqi Lithium: Talson Phase III chemical-grade lithium concentrate expansion produces first batch of compliant chemical-grade lithium products

Tianqi Lithium (002466) announced on January 30 that its wholly owned subsidiary Talson, a controlled subsidiary of Wanfielde, has initiated capacity expansion for chemical-grade lithium concentrate. It has built a dedicated large-scale chemical-grade lithium concentrate production facility and a new ore crushing facility, and prepared supporting infrastructure for future expansion (referred to as “Talson Phase III chemical-grade lithium concentrate expansion project”). After initial debugging, the project produced its first batch of compliant chemical-grade lithium concentrate on January 30, 2026.

Kids King: Plans to invest 3.3 million yuan to establish a joint venture to explore online business model innovation around new consumption for parent-child families

Kids King (301078) announced on January 30 that it plans to jointly establish a joint venture with seven shareholders, including related party director/CEO Xu Weihong, director/Deputy General Manager/Board Secretary Shi Guanglei, and non-related party Shen Hui, to form Zhejiang Liantuo Future Network Technology Co., Ltd. The company will contribute 3.3 million yuan, accounting for 33% of the registered capital. This joint investment aims to strengthen the company’s core competitiveness in the online field of new consumption for parent-child families, exploring online business model innovation and expanding online consumption scenarios.

EVE Energy: Shareholding company signs framework agreement with Indonesian state-owned enterprise to cooperate across the full new energy vehicle battery industry chain

EVE Energy (300014) announced on January 30 that its associate HYD Investment Limited (indirect holding of 15%) signed a framework agreement with Indonesian state-owned enterprises ANTAM and IBC to cooperate across the full new energy vehicle battery industry chain in Indonesia. The required minerals will be supplied by ANTAM’s subsidiaries. The parties agree to build an integrated battery industry chain project in Indonesia, covering mines, pyrometallurgy, hydrometallurgy, refining, precursor and cathode materials, batteries, and recycling, to realize integration from mining, smelting, refining, to battery manufacturing.

Yuehongyuan A: Transfers 45% equity of Hongxi Mining

Yuehongyuan A (000573) announced on January 30 that it signed an equity transfer agreement with Guizhou Xiyuan on January 30, 2026, selling its 45% stake in Hongxi Mining for 22.3715 million yuan. After the transaction, the company will no longer hold any equity in Hongxi Mining. This transaction further optimizes the company’s business and promotes transformation. It is expected to bring the company about 22 million yuan in gains and have a positive impact on current or future financial performance.

Yinghe Technology: Currently does not supply coating machines needed for perovskite photovoltaic field

Yinghe Technology (300457) stated on January 30 on the interactive platform that its main business currently focuses on lithium battery intelligent equipment and electronic cigarette-related businesses. It does not currently supply coating machines required for the perovskite photovoltaic field. The company will continue to monitor industry technological developments and cautiously plan its business direction based on strategic considerations.

【Performance Outlook】

Cambricon: Expected profit of 1.85 billion to 2.15 billion yuan in 2025, turning from loss to profit year-on-year

Cambricon (688256) released a performance forecast on January 30, estimating net profit attributable to the parent of 1.85 billion to 2.15 billion yuan for 2025, turning from loss to profit compared to the same period last year. During the reporting period, benefiting from the continuous increase in demand for computing power in the AI industry, the company expanded its market with excellent product competitiveness, actively promoted AI application scenarios, and saw significant revenue growth, leading to a turnaround in net profit.

Youzu Network: Estimated revenue of 1.38 billion to 1.46 billion yuan in 2025

On January 30, Youzu Network (002174.SZ) announced its 2025 performance forecast, estimating revenue of 1.38 billion to 1.46 billion yuan; overseas revenue is expected to account for over 65%. Net profit attributable to shareholders is expected to be a loss of 180 million to 360 million yuan. During the period, the company successfully entered the mini-game market with its self-developed product “Youth Three Kingdoms - Nostalgia Version,” building a product matrix for domestic growth.

NaXin Micro: Expected loss of 200 million to 250 million yuan in 2025

NaXin Micro (688052) announced on January 30 that it expects operating revenue of 3.3 billion to 3.4 billion yuan in 2025, a year-on-year increase of 68.34% to 73.45%. It expects net profit attributable to the parent to be a loss of 250 million to 200 million yuan, narrowing from the previous loss. During the period, demand in the downstream automotive electronics sector grew steadily, with related products continuing to increase; the overall energy sector showed signs of recovery, with photovoltaic and energy storage customers resuming normal demand; server power supplies grew rapidly under AI influence; Megen’s consolidation enriched the product matrix, positively impacting revenue growth.

Zhit New Materials: Expected net profit of 160 million to 200 million yuan in 2025, a year-on-year increase of 117.11% to 171.39%

Zhit New Materials (300986) announced on January 30 that it expects net profit attributable to the parent of 160 million to 200 million yuan in 2025, a year-on-year increase of 117.11% to 171.39%. During the period, the core green building formwork business maintained steady growth, with increasing revenue from prefabricated series products, and overseas business revenue grew rapidly.

Lingyun Optics: Expected net profit of about 161 million yuan in 2025, a year-on-year increase of 50.75%

Lingyun Optics (688400) announced on January 30 that it expects net profit attributable to the parent of about 161 million yuan in 2025, a year-on-year increase of approximately 50.75%. During the period, the company achieved good growth in consumer electronics, display semiconductors, new energy, and printing and packaging fields.

Yihualu: Expected loss of 2.176 billion to 2.791 billion yuan in 2025; stock trading may be subject to delisting risk

Yihualu (300212) announced on January 30 that it expects net profit attributable to the parent of a loss of 2.176 billion to 2.791 billion yuan in 2025, compared to a loss of 2.865 billion yuan in the same period last year. During the period, the company focused on expanding smart transportation, data elements, and data operation services. New contracts increased year-on-year, but due to high fixed expenses such as financial costs, it has not yet turned a profit. The company also announced that its net assets at the end of 2025 are expected to be negative, and according to the Shenzhen Stock Exchange’s rules, the stock may be subject to delisting risk warning after the 2025 annual report is disclosed.

Rongsheng Development: Expected loss of 8 billion to 9.5 billion yuan in 2025

Rongsheng Development (002146) announced on January 30 that it expects net profit attributable to the parent of a loss of 8 billion to 9.5 billion yuan in 2025, compared to a loss of 8.444 billion yuan last year. The net profit for 2025 is expected to change little from the previous year, mainly due to project disposal and sales prices not meeting expectations, and low profit margins on transferred development projects.

Tongzhou Electronics: Expected net profit of 175 million to 230 million yuan in 2025, a year-on-year increase of 151.4% to 230.42%

Tongzhou Electronics (002052) announced on January 30 that it expects net profit attributable to the parent of 175 million to 230 million yuan in 2025, a year-on-year increase of 151.4% to 230.42%. During the period, the company’s high-power power supply sales increased compared to last year, profit improved, and owner’s equity attributable to shareholders increased accordingly.

Xiangpiaopiao: Expected net profit of 102 million to 125 million yuan in 2025, a year-on-year decrease of 50.59% to 59.68%

Xiangpiaopiao (603711) announced on January 30 a performance forecast for 2025, estimating net profit of 102 million to 125 million yuan, a decrease of 50.59% to 59.68% year-on-year. Revenue is expected to be around 2.927 billion yuan, about 10.95% less than the same period last year. The decline in performance is mainly due to the decrease in sales of traditional instant brewing products.

Aijian Group: Expected loss of 1.4 billion to 1.68 billion yuan in 2025

Aijian Group (600643) announced on January 30 that it expects net profit attributable to the parent of a loss of 1.4 billion to 1.68 billion yuan in 2025. During the period, its subsidiary Shanghai Aijian Trust Co., Ltd. (Aijian Trust) faced operational pressure due to industry adjustments, business transformation, and intensified market competition; it conducted comprehensive impairment tests on real estate assets and other assets, and made large asset impairment provisions for projects with impairment signs, significantly impacting net profit.

Air China: Expected loss of 1.3 billion to 1.9 billion yuan in 2025

Air China (601111) announced on January 30 that it expects net loss attributable to shareholders of about 1.3 billion to 1.9 billion yuan in 2025, compared to a net loss of 237 million yuan last year. The company is actively promoting quality and efficiency improvements, striving to boost production, strengthen operations, and stabilize growth, with overall operational benefits showing increased investment, revenue, and reduced costs, maintaining a positive trend.

Liqun Group: Expected loss of 285 million to 350 million yuan in 2025, turning from profit to loss

Liqun Group (601366) announced on January 30 that it expects net profit of -285 million to -350 million yuan in 2025, turning from a profit of 27.2382 million yuan last year. During the period, impacted by macroeconomic environment, intensified industry competition, closure of some loss-making stores, and business integration, revenue decreased by about 8.7%, and gross profit from main business decreased by about 260 million yuan, resulting in losses.

*ST Rendo: Expected profit of 254 million to 380 million yuan in 2025, turning from loss to profit

*ST Rendo announced on January 30 that it expects net profit attributable to the parent of 254 million to 380 million yuan in 2025, turning from loss to profit. The company’s restructuring plan has been completed, assets and liabilities are optimized, and net assets at year-end are expected to turn positive, between 400 million and 600 million yuan. The company is also actively promoting strategic transformation and accelerating the cultivation of the second growth curve.

Overseas Chinese Town A: Expected loss of 13 billion to 15.5 billion yuan in 2025

Overseas Chinese Town A (000069) announced on January 30 that it expects net profit of 13 billion to 15.5 billion yuan in 2025, compared to a loss of 8.662 billion yuan last year. The company has dynamically adjusted its operations and sales strategies based on market conditions, with declines in revenue and gross profit from real estate. It has promoted inventory sales and cash flow improvement through asset transfers, making significant progress in the fourth quarter, with some transactions resulting in losses.

Huayi Brothers: Expected loss of 289 million to 407 million yuan in 2025, stock trading may be subject to delisting risk warning

Huayi Brothers (300027) announced on January 30 that it expects net profit attributable to the parent of -289 million to -407 million yuan in 2025, compared to a loss of 285 million yuan last year. The company continues to develop and reserve excellent film projects, with some released or online during the period. It also actively participates in production and investment of multiple dramas and online movies, and has established a short drama label “Huayi Brothers Fire Drama.” Based on preliminary estimates, net assets at year-end 2025 are expected to be between -94 million and +63 million yuan (unaudited). If the audited net assets at year-end are negative, the company may be subject to delisting risk warning according to the rules.

Hao Xiang Ni: Expected profit of 750 million to 950 million yuan in 2025, turning from loss to profit

Hao Xiang Ni (002582) announced on January 30 that it expects net profit of 750 million to 950 million yuan in 2025, turning from loss to profit, compared to a loss of 71.9577 million yuan last year. During the period, the company controlled production costs through precise procurement of jujube raw materials and refined management, increasing gross profit margin. The increase in non-recurring gains and losses was mainly due to fair value changes of associated company Mingming Very Busy.

Changchun High-tech: Estimated net profit of 1.5 billion to 2.2 billion yuan in 2025, a decrease of 91.48% to 94.19% year-on-year

Changchun High-tech (000661) announced on January 30 that it expects net profit of 1.5 billion to 2.2 billion yuan in 2025, a decrease of 91.48% to 94.19% year-on-year. During the period, R&D and sales expenses for some products increased; the company actively participated in medical insurance negotiations for long-acting growth hormone and successfully included it in the national medical insurance catalog. The company adjusted sales policies and pricing for related products, and planned shipment schedules for certain formulations in the fourth quarter, balancing patient needs and reducing potential impairment losses caused by price changes, resulting in decreased revenue and net profit.

Ates: Expected net profit of 900 million to 1.1 billion yuan in 2025, a decrease of 51% to 60% year-on-year

Ates (688472) announced on January 30 that it expects net profit of 900 million to 1.1 billion yuan in 2025, down 51% to 60% from the previous year. The overall supply-demand imbalance in the photovoltaic industry persists, with industry chain utilization rates declining, and increased costs for silicon materials and silver paste due to international trade protection policies, further pressuring profitability.

Datang Power Generation: Expected net profit of 6.8 billion to 7.8 billion yuan in 2025

Datang Power Generation (601991) announced on January 30 that it expects net profit attributable to the parent of about 6.8 billion to 7.8 billion yuan in 2025, an increase of about 51% to 73% year-on-year. The company effectively benefits from the decline in coal prices, with improved profitability in core thermal power operations; continues green transformation with expanding wind and solar capacity, significantly increasing renewable power generation; and optimizes debt structure and reduces financing costs, further supporting performance growth.

Shenzhen Cell: Expected loss of 520 million to 580 million yuan in 2025, turning from profit to loss

Shenzhen Cell (688520) announced on January 30 that it expects net profit of -580 million to -520 million yuan in 2025, compared to a profit of 112 million yuan last year. The industry’s medical insurance cost control policies and price reductions for core products have led to significant revenue decline, causing overall revenue to decrease.

Yunnan Zinc Industry: Expected net profit of 15 million to 22 million yuan in 2025, a decrease of 58.57% to 71.75% year-on-year

Yunnan Zinc Industry (002428) announced on January 30 that it expects net profit of 15 million to 22 million yuan in 2025, down 58.57% to 71.75% year-on-year. The increase in raw material prices has caused the sales prices and unit costs of various zinc products to rise, with unit costs increasing faster than sales prices. Changes in sales volume, prices, and costs have led to increased revenue but decreased gross profit margin.

China Southern Airlines: Expected profit of 800 million to 1 billion yuan in 2025

China Southern Airlines (600029) announced on January 30 that it expects net profit of 8 billion to 10 billion yuan in 2025, turning from a loss of 1.696 billion yuan last year.

Guangdong Mingzhu: Expected net profit of 166 million to 203 million yuan in 2025, an increase of 2908.49% to 3577.04% year-on-year

Guangdong Mingzhu (600382) announced on January 30 that it expects net profit attributable to the parent of 166 million to 203 million yuan in 2025, an increase of 2908.49% to 3577.04%. The increase is driven by new mineral extraction from Mingzhu Mining’s expansion project, water-washed stone production line upgrades, and increased sales of iron concentrate and processed ore after technical renovations.

Kexing Pharmaceutical: Expected net profit of 135 million to 175 million yuan in 2025, an increase of 328.83% to 455.89% year-on-year

Kexing Pharmaceutical (688136) announced on January 30 that it expects net profit of 135 million to 175 million yuan in 2025, an increase of 328.83% to 455.89%. The company expanded overseas markets, resulting in strong overseas revenue growth and continuous increase in overall revenue.

Bojie Co., Ltd.: Expected net profit of 130 million to 160 million yuan in 2025, an increase of 484.16% to 618.97%

Bojie Co., Ltd. (002975) announced on January 30 that it expects net profit of 130 million to 160 million yuan in 2025, an increase of 484.16% to 618.97%. The company’s AI server and cloud data services grew rapidly; in new energy vehicles, it acquired Zhuhai Guanghao Jie Technology Co., Ltd., consolidating performance; it continues to serve top domestic and international clients, with significant sales growth in automotive lenses, automated assembly lines, and other related equipment; downstream demand for MLCC surged, expanding capacity and market demand, driving continuous growth in related equipment orders.

Kunlun Wanwei: Expected loss of 1.95 billion to 1.35 billion yuan in 2025

Kunlun Wanwei (300418) announced on January 30 that it expects net loss of 1.95 billion to 1.35 billion yuan in 2025, compared to a loss of 1.595 billion yuan last year. The company’s ongoing investments in “computing power - large models - applications” have impacted performance.

CICC: Expected net profit attributable to shareholders of 8.542 billion to 10.535 billion yuan in 2025

CICC (600030) announced on January 30 that it expects net profit of 8.542 billion to 10.535 billion yuan in 2025, an increase of 2.847 billion to 4.84 billion yuan, or 50% to 85% year-on-year. The company actively seizes market opportunities, leveraging integrated advantages in investment banking, securities, and research, and advancing strategic deployment, leading to robust growth in core business areas.

Yahui Long: Expected net profit of 20 million to 30 million yuan in 2025, a decrease of 90.05% to 93.37%

Yahui Long (688575) announced on January 30 that it expects net profit of 20 million to 30 million yuan in 2025, down 90.05% to 93.37% year-on-year. Industry policy impacts and short-term demand reduction in the domestic market have caused revenue and gross profit to decline, resulting in lower net profit.

Great Wall Motors: Performance brief for 2025: Net profit of 9.912 billion yuan

Great Wall Motors (601633) announced on January 30 that it expects revenue of 2227.9 billion yuan in 2025, up 10.19%; net profit of 99.12 billion yuan, down 21.71%; basic earnings per share of 1.16 yuan. The company’s sales and revenue increased year-on-year, but increased investments in new models, new technologies, and brand promotion led to a decline in net profit.

Shandong Gold: Expected net profit of 4.6 billion to 4.9 billion yuan in 2025

Shandong Gold (600547) announced on January 30 that it expects net profit of 4.6 billion to 4.9 billion yuan in 2025, an increase of 56% to 66% year-on-year. The company optimized production layout, improved efficiency, and benefited from rising gold prices, leading to increased profits.

Perfect World: Expected profit of 720 million to 760 million yuan in 2025, turning from loss to profit

Perfect World (002624) announced on January 30 that it expects net profit of 720 million to 760 million yuan in 2025, turning from a loss of 1.288 billion yuan last year. The online game “Zhu Xian World” launched in December 2024, “Zhu Xian 2” beta in August 2025, and “Persona: Nightshade” launched in late June to early July in Japan and Europe/America, contributed to performance growth. The esports business continued to grow, with a comprehensive competition system driving refined operations and stable revenue contribution.

Aerospace Hongtu: Expected loss of about 1.03 billion yuan in 2025

Aerospace Hongtu (688066) announced on January 30 that it expects net loss of about 1.03 billion yuan in 2025. New orders signed during the year decreased by about 13% compared to last year; due to suspension of military procurement qualifications, the company was unable to participate in related bidding for the past year and a half, causing revenue from this sector to drop sharply from 660 million yuan to about 50 million yuan.

Western Gold: Expected net profit of 425 million to 490 million yuan in 2025

Western Gold (601069) announced on January 30 that it expects net profit of 425 million to 490 million yuan in 2025, up 67.58% to 93.21% year-on-year. The increase is driven by higher sales volume and prices of self-operated gold products compared to last year.

Tuo Wei Information: Expected profit of 50 million to 75 million yuan in 2025, turning from loss to profit

Tuo Wei Information (002261) announced on January 30 that it expects net profit of 50 million to 75 million yuan in 2025, turning from a loss of 100 million yuan last year. The company adjusted its game strategy, improved operational efficiency, and reduced risks; the previous year’s loss was mainly due to goodwill and intangible asset impairments of about 50 million yuan. The company received performance compensation of 72.84 million yuan from shareholders and 17.94 million yuan from Huayuntian Holdings’ illegal guarantee case, which are non-recurring gains and losses, and are among the main reasons for the year-on-year increase in net profit.

Hainan HNA Holdings: Expected profit of 1.8 billion to 2.2 billion yuan in 2025, turning from loss to profit

Hainan HNA Holdings (600221) announced on January 30 that it expects net profit of 1.8 billion to 2.2 billion yuan in 2025, compared to a loss of 921 million yuan last year. Since 2025, the civil aviation market has continued to improve. The company has adjusted capacity allocation timely, strengthened refined management, improved route network quality and efficiency, and benefited from the operation of Hainan Free Trade Port, with steady growth in production and operations. Most of its leasing debts and some loans are settled in foreign currencies (mainly USD). Due to RMB appreciation in 2025, the company gained exchange gains.

Guoxuan High-tech: Expected net profit of 2.5 billion to 3 billion yuan in 2025

Guoxuan High-tech (002074) announced on January 30 that it expects net profit of 2.5 billion to 3 billion yuan in 2025, an increase of 107.16% to 148.59%. The company’s performance is expected to grow significantly compared to last year, driven by rapid growth in demand for new energy vehicles and energy storage, with sales of high-energy-density lithium iron phosphate batteries increasing substantially.

【Share Increase/Decrease】

Jihua Group: Controlling shareholder plans to transfer part of its shares via agreement, stock suspended on February 2

Jihua Group (603980) announced on January 30 that it received notice from its controlling shareholder, Hangzhou Jinhui Electromechanical Equipment Co., Ltd., that it is planning an agreement transfer of part of its shares, which may lead to a change in the company’s controlling shareholder and actual controller. The matter is under negotiation and still has significant uncertainty. The stock will be suspended from trading starting February 2, 2026, for no more than 2 trading days.

Zhuyi Group: Shareholder plans to reduce holdings by no more than 1%

Zhuyi Group (600961) announced on January 30 that shareholder Hunan Xiangtou Jinye Private Equity Investment Fund Partnership (referred to as “Xiangtou Jinye”), holding 5.45%, plans to reduce its holdings by no more than 10.7287 million shares through centralized bidding, representing no more than 1% of total shares.

【Major Contracts】

Jintanglang: Wins bid for 344 million yuan fine decoration general contracting project

Jintanglang (002081) announced on January 30 that it received a bid-winning notice from Suzhou Industrial Park Jinyuan Heng Real Estate Co., Ltd., for the DK20240252 land parcel project’s fine decoration general contracting, with a bid amount of 344 million yuan, accounting for 1.88% of the company’s audited revenue in 2024.