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People's Financial News, March 25 — Guanhao Biotech (300238) announced its annual report on March 25. The company achieved operating revenue of 388 million yuan in 2025, a year-on-year increase of 2.72%; net profit attributable to shareholders was 24.346 million yuan, a decrease of 11.2% year-on-year; basic earnings per share were 0.09 yuan. In 2025, the company's drug sales volume increased by 59.12% year-on-year, production volume increased by 379.97%, and ending inventory increased by 1433.36%.

People's Financial News, March 25 — Chuangye Environmental Protection (600874) disclosed its annual report on March 25, 2025. The company achieved operating revenue of 4.76 billion yuan, a decrease of 1.4% year-on-year; net profit attributable to shareholders of 862 million yuan, a 6.83% increase year-on-year; basic earnings per share of 0.55 yuan. The company plans to distribute a cash dividend of 2.09 yuan (tax included) for every 10 shares. During the reporting period, the company added investment to the Xianyang Road Phase II sewage treatment project, increasing the scale of equity-based sewage treatment business by 150,000 cubic meters per day.

People's Finance News, March 25 — Pinduoduo released its latest financial report on March 25, showing double growth in both Q4 2025 and full-year revenue. Among them, Q4 revenue was 123.9 billion yuan, and full-year revenue was 431.8 billion yuan, a 10% year-over-year increase. In early April last year, Pinduoduo officially launched the "Hundred Billion Support" strategy. Since the implementation of this significant agricultural support and business benefit strategy for a year, the platform's ecological effectiveness has accelerated. Various merchants in agricultural and industrial zones have gradually transitioned from categories and quality to branding through customized and differentiated development paths.

People's Financial News, March 25 — Pinduoduo released its Q4 2025 and full-year financial reports on March 25. The revenue for Q4 was 123.9 billion yuan, and the full-year revenue was 431.8 billion yuan. Net profit declined year-over-year, mainly due to Pinduoduo's "Hundred Billion Support" strategy, which involved continuous investment on both the supply and demand sides, to some extent dragging down the company's performance for this fiscal year.

People's Finance News, March 25 — According to the Shanghai First Intermediate People's Court, the court publicly announced the first-instance verdict on March 25 in the case of Xu Sunqing, former Deputy Party Secretary and Vice Chairman of Shanghai Oriental Hub Investment and Development Group Co., Ltd., for accepting bribes. Xu Sunqing was sentenced to nine years and six months in prison for bribery and fined one million RMB; illegal gains, including assets and interest, are to be confiscated according to law and turned over to the state treasury. (Xinhua News Agency)

On March 25th, the A-share market generally rose, with the Shanghai Composite Index up 1.3% to 3,931.84 points. The net inflow of main funds was 15.032 billion yuan, with the most funds flowing into the telecommunications industry, and Luxshare Precision leading in main fund inflows. Several stocks attracted institutional attention.

COSCO SHIPPING Lines announces the resumption of new booking services for routes between the Far East and several Middle Eastern countries starting March 25, after suspending bookings due to conflicts in the Middle East region.

The main capital inflows are led by the communications, electronics, non-ferrous metals, and machinery equipment industries.
The three major A-share indices all gained strength today (March 25). By the close, the Shanghai Composite rose 1.3% to 3,931.84 points; the Shenzhen Component Index increased 1.95% to 13,801 points; and the ChiNext Index climbed 2.01% to 3,316.97 points.
Almost all industry sectors advanced, with power, communication equipment, rare earths, communication services, precious metals, hospitality and catering, energy metals, tourism scenic spots, and airports leading the gains. Only the photovoltaic equipment sector saw a slight decline against the trend.
Regarding today's main capital flow, the net inflow of funds into the Shanghai and Shenzhen markets was 15.032 billion yuan throughout the day. Thirteen industry sectors experienced net capital inflows, with communication, electronics, non-ferrous metals, and machinery equipment sectors receiving net inflows of 7.075 billion yuan, respectively.

People's Financial News, March 25 — Haishun New Materials (300501) released its annual report. In 2025, operating revenue was 1.105 billion yuan, down 3.3% year-on-year; net loss attributable to shareholders of the listed company was 23.2669 million yuan, compared to a net profit of 74.59 million yuan in the same period last year. The company plans to transfer 4.6 new shares for every 10 shares and distribute a cash dividend of 6 yuan (tax included).

Russian President's Press Secretary Peskov stated that negotiations on the Ukraine issue are progressing, and Russia and the US are still in communication. He emphasized that mediation should consider Russian interests and looks forward to continued US efforts. Meanwhile, Russia has informed Turkey about security threats to the natural gas pipeline.

The Bay Area Low-Altitude Research Institute was inaugurated in Zhuhai High-tech Zone and signed a cooperation agreement. It will take Fenghuang Mountain Forest Fire Prevention and Suppression as the starting point to promote the advancement of intelligent forest fire prevention and suppression systems and drive the localization and upgrading of low-altitude technology in the Guangdong-Hong Kong-Macao Greater Bay Area.

People's Financial News, March 25 — China Oil Engineering (600339) announced on March 25 that in January and February 2026, the company achieved a total new contract signing amount of 18.964 billion yuan, a year-on-year increase of 0.54%. Among them, the new contract signing amount in February was 7.975 billion yuan, and one engineering contract with a single contract amount of over 1 billion yuan was signed.

On the 26th, lithium battery concept stocks were active, with Haike New Source hitting the daily limit. Influencing factors include the continuation of Zimbabwe's lithium export ban, and market expectations are expected to persist. Supply disruptions are intensifying amid strong demand. Lithium carbonate supply is limited, inventories have fallen to low levels, and prices are expected to be easy to rise but difficult to fall.

People's Financial News, March 25 — ST United (600358) announced on March 25 that the company's board of directors approved the proposal to apply for the removal of the company's other risk warning on its stock. The company agrees to submit an application to the Shanghai Stock Exchange to revoke the other risk warning for its stock.

Hezbollah leader Naim Qassem stated that Hezbollah will continue to conduct "defensive battles" to oppose Israel. He emphasized that this is a shared national responsibility, and that Hezbollah has chosen to resist rather than surrender, and will continue fighting for Lebanon and its citizens.

China Life Insurance plans to commit 2.8 billion yuan to Fujian Province Xinrui Kechuang Relay Equity Investment Fund. The fund focuses on the private equity secondary market, aiming to support technological innovation, enhance investment returns for insurance funds, and meet capital allocation needs.

The National Healthcare Security Administration has issued policies for long-term care insurance, clarifying that the fund is used to cover basic service costs and is not directly disbursed as cash. The insurance has no deductible, and the reimbursement rate varies based on the contribution level to ensure the sustainability of the fund. The annual maximum payment limit does not exceed 50% of the previous year's per capita disposable income.

People's Financial News, March 25 — PortD Technology (301633) announced on March 25 that shareholder Ong Yao-gen, who holds 7.60% of the company's shares, plans to transfer 2.79 million unrestricted circulating shares of the company to Shanghai Zhongjue Private Equity Fund Management Co., Ltd. (on behalf of "Zhongjue Exclusive 2 Private Securities Investment Fund") through an agreement, accounting for 5.01% of the company's total share capital. The transfer price is 50 yuan per share, with a total transaction amount (including tax) of approximately 140 million yuan.

People's Financial News, March 26 — Ding Sansan, Director of the National Key Laboratory of Transportation Technology, stated that there are several upcoming tasks in the development of high-speed magnetic levitation transportation systems. First, to conduct independent replacement and upgrade verification for the Shanghai demonstration line. Second, to carry out 600 km/h high-speed magnetic levitation speed trials and demonstration project construction. Third, to explore higher magnetic levitation speed boundaries such as 1000 km/h, continuously leading the development of maglev technology, with the ultra-high-speed experimental line scheduled to be completed by October 2026. Fourth, to realize the application of maglev technology across multiple industries, including energy storage and logistics.