首波年报预披露公司来袭，谁在领跑盈利榜？

财经早餐01-05

点击“预约”，观看直播不错过！业绩真空期终于要过去了！2025年底以来，A股上市公司开启了业绩预告之路，业绩的好坏不仅是检验上市公司过去一年到底过得怎么样的直接证据，也大概率将成为资本市场投资的指引。龙头显实力据Choice，截至昨日，已有约50家上市企业公布2025年年度业绩预告，净利润预增的在八成左右。这其中也显示出头部企业业绩兑现能力较为突出的特征。不过，部分传统行业仍深陷需求萎缩、成本高...

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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260105065258a6f32fc0&s=b><strong>财经早餐</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>点击“预约”，观看直播不错过！业绩真空期终于要过去了！2025年底以来，A股上市公司开启了业绩预告之路，业绩的好坏不仅是检验上市公司过去一年到底过得怎么样的直接证据，也大概率将成为资本市场投资的指引。龙头显实力据Choice，截至昨日，已有约50家上市企业公布2025年年度业绩预告，净利润预增的在八成左右。这其中也显示出头部企业业绩兑现能力较为突出的特征。不过，部分传统行业仍深陷需求萎缩、成本高...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260105065258a6f32fc0&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0871576103.HKD","symbol_name":"HSBC GIF CHINESE EQUITY \"AC\" (HKD) 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list?","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"02315":0.9,"02899":0.9},"content_text":"点击“预约”，观看直播不错过！业绩真空期终于要过去了！2025年底以来，A股上市公司开启了业绩预告之路，业绩的好坏不仅是检验上市公司过去一年到底过得怎么样的直接证据，也大概率将成为资本市场投资的指引。龙头显实力据Choice，截至昨日，已有约50家上市企业公布2025年年度业绩预告，净利润预增的在八成左右。这其中也显示出头部企业业绩兑现能力较为突出的特征。不过，部分传统行业仍深陷需求萎缩、成本高企的困境，行业间的盈利分化进一步加剧。部分高科技企业由于投入大，商业化没有大面积铺开，也面临亏损的情况。图片来源：Choice我们从行业分布来看，目前已经公布业绩预告的企业之中，医药生物、电子、电力设备、基础化工四大领域披露业绩预增的上市公司数量较多，新能源、有色金属、光通信等高景气赛道企业情况表现较好。比如，有色金属行业里的紫金矿业，可以说是预告了“史上最好”成绩单。据公司公告，紫金矿业预计2025年度实现归属于上市公司股东的净利润约510亿元至520亿元，同比增加约59%至62%。主要原因在于报告期内主要矿产品产量同比增加。其中，最为核心的矿产金产量约为90吨，而2024年度这一数字为73吨，增幅显著。此外，矿产铜等主要产品的产量也实现了增长。产能提升背后本质还是公司效率的提升。2025年，紫金矿业抢抓黄金和铜等大宗商品的结构性机会，主营产品持续放量，矿产金同比增长23.5%至90吨，矿产铜同比增长2%至109万吨。消费电子行业龙头立讯精密预计2025年归母净利润约为165.18亿元至171.86亿元，同比增长23.59%至28.59%。事实上，在2025年第三季度，立讯精密就展现出强劲的增长动能，战略转型成效显著，消费电子、通信与数据中心、汽车电子三大业务形成协同效应。中泰证券指出，立讯精密在AI硬件与汽车电子领域的布局具有前瞻性，管理层战略执行能力优秀，未来增长确定性较高。新能源产业方面，随着新能源汽车与储能市场的持续扩容，推动上游材料与设备企业业绩大幅增长。电解液全球龙头天赐材料预计2025年归母净利润11亿元—16亿元，同比增长127.31%—230.63%。核心原因在于新能源车市场需求持续增长以及储能市场需求快速增长，公司锂离子电池材料销量同比大幅增长。同时因公司核心原材料的产能爬坡与生产环节的成本管控，整体盈利能力提升。据公司披露，其现有电解液产能约85万吨，六氟磷酸锂产能约11万吨，2025年电解液全年销量预计72万吨，超过年初制定的70万吨目标，核心产品基本达到满产状态。值得一提的是，从预增幅度看，创新药公司百奥赛图的增长预期最高：预计实现净利润约1.35亿元，同比增幅约为303.57%。得益于公司强大的研发能力，丰富的动物模型资源及不断提高的品牌影响力，公司持续加大海外市场开拓，同时国内生物医药企业释放更多研发需求。分裂走势2025年登陆资本市场的次新股不乏一些亮点，其中创业板已有5家次新股明确披露业绩预增预告，净利润增幅中值从2.76%到10.31%不等，其中硬科技领域是次新股业绩预增的核心阵地。电子、汽车、计算机等行业也有不错的成绩。比如电子行业次新股新恒汇，预计2025年净利润增幅中值达4.66%。这主要得益于消费电子与AI端侧硬件领域的需求增长，公司通过技术创新与客户拓展实现稳步成长。汽车领域的纳百川预计2025全年营业收入较上年增长20.86%,归母净利润较上年增长9.72%。纳百川客户覆盖宁德时代、蔚来、理想、零跑、吉利、东风日产、奔驰、大众、奇瑞、赛力斯等国内外主流主机厂和电池制造商。在储能热管理领域，纳百川进入宁德时代、中创新航、阳光电源等头部企业的供应链体系。不过，业绩好与股价表现也并非完全正相关。比如纳百川，尽管预告业绩增长，今年以来股价仍下跌30.80%，反映出市场对部分次新股估值合理性的重新审视。少数次新股则面临业绩压力，如部分企业因前期研发投入大、市场拓展未达预期等因素出现亏损，凸显次新股成长过程中的不确定性。摩尔线程此前公告称，公司新产品尚未产生收入，产品实现销售尚需要经过产品认证、客户导入、量产供货等环节，均存在不确定性。新产品在市场竞争中未能取得优势，或遭遇技术迭代滞后、市场需求不及预期、关键客户导入失败或流失、量产供货困难等不利情形，将对公司的整体经营业绩和财务状况产生不利影响。公司预计2025年归属于母公司股东的净利润为-11.68亿元至-7.30亿元。公司未来的营业收入可能增长较慢或无法持续增长。结语叙事虽然重要，不过年报披露期间，股市可能更加会注重“盈利驱动”的逻辑，行业分化也可能进一步加剧，所以可以重点关注业绩确定性高、能持续兑现增长的龙头企业。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 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