Core Insights - Nanjing Panda Electronics Co., Ltd. reported a revenue of 1.56 billion yuan for the first three quarters of 2025, representing a year-on-year decrease of 14.67% [1] - The company recorded a net loss attributable to shareholders of 89.72 million yuan [1] - Basic earnings per share showed a loss of 0.0982 yuan [1]

每经头条（nbdtoutiao）——A股突破4000点！十年沉寂终迎爆发，科技主线重塑市场，"慢牛"新格局开 启！ （记者 曾健辉） 每经AI快讯，南京熊猫（SH 600775，收盘价：12.01元）10月28日晚间发布三季度业绩公告称，2025年 前三季度营收约15.6亿元，同比减少14.67%；归属于上市公司股东的净利润亏损约8972万元；基本每股 收益亏损0.0982元。 截至发稿，南京熊猫市值为110亿元。 ...

Group 1 - The core point of the article is that Nanjing Panda Electronics Co., Ltd. reported a decline in revenue and a net loss for the first three quarters of 2025 [1] Group 2 - The company achieved an operating income of 1.56 billion RMB, representing a year-on-year decrease of 14.67% [1] - The net profit attributable to shareholders of the listed company was a loss of 89.72 million RMB [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of 97.79 million RMB, with a basic earnings per share of -0.0982 RMB [1]

Financial Performance - The company's operating revenue for Q3 2025 was ¥517,489,430.16, a decrease of 10.46% compared to the same period last year[3] - The total profit for the period was -¥31,197,241.66, with a net profit attributable to shareholders of -¥44,131,774.15, reflecting a significant decline in profitability[3] - Total operating revenue for the first three quarters of 2025 was ¥1,560,140,663.88, a decrease of 14.7% compared to ¥1,828,298,552.68 in the same period of 2024[24] - Net profit for the first three quarters of 2025 was a loss of ¥53,733,667.51, an improvement from a loss of ¥64,731,060.26 in the same period of 2024[25] - The company reported a total profit loss of ¥37,965,724.97 for the first three quarters of 2025, an improvement from a loss of ¥51,895,562.04 in the same period of 2024[25] Cash Flow and Assets - The cash flow from operating activities for the year-to-date was -¥9,127,706.40, indicating ongoing cash flow challenges[3] - The net cash flow from operating activities for the first three quarters of 2025 was a negative ¥9,127,706.40, compared to a negative ¥258,013,394.28 in the first three quarters of 2024[29] - The company's total current assets amounted to RMB 3,661,707,623.53, a slight decrease from RMB 3,730,401,134.18 at the end of 2024[20] - The company's cash and cash equivalents increased to RMB 922,288,677.32 from RMB 757,643,131.44 at the end of 2024, reflecting a growth of approximately 21.7%[20] - Total liabilities decreased to RMB 1,786,174,750.58 from RMB 1,931,188,750.83, showing a reduction of about 7.5%[22] Shareholder Information - Total number of common shareholders at the end of the reporting period is 79,064[10] - The largest shareholder, Hong Kong Central Clearing Limited, holds 243,767,203 shares, representing 26.67% of total shares[10] - The total shareholding of China Electronics, the actual controller, is 273,964,055 shares, which is 29.98% of the total issued share capital[12] - The top 10 shareholders collectively hold significant stakes, with the top three alone accounting for over 52% of total shares[10] - Panda Electronics Group Co., Ltd. holds 210,661,444 shares, accounting for 23.05% of total shares, with 105,091,430 shares pledged[14] Investment and Expenses - Investment income increased by 37.91%, mainly due to higher returns from associated companies[8] - Research and development expenses for the first three quarters of 2025 were ¥148,206,761.89, a decrease of 11.4% from ¥167,315,877.83 in the same period of 2024[24] - Cash outflow for investment activities amounted to $1,041,063,512.53, down from $1,210,419,128.59, indicating a reduction in capital expenditures[30] Legal and Regulatory Matters - The company has ongoing litigation involving its subsidiary, with a favorable ruling requiring the opposing party to pay outstanding amounts, currently in the execution phase[18] - The company is currently in the process of handling the registration of changes in business operations related to the equity transfer[17] - The company has disclosed important information regarding tax adjustments related to its associate, Nanjing Ailixin Panda Communication Co., Ltd.[15] Accounting and Reporting - The company did not adopt new accounting standards for the current reporting period, maintaining consistency in financial reporting[31] - The board of directors announced the financial results on October 28, 2025, indicating a commitment to timely disclosures[32]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 2025年第三季度報告 重要提示 （二）非經常性損益項目和金額 – 1 – 1. 南 京 熊 猫 電 子 股 份 有 限 公 司（「本公司」或「公 司」）董 事 會（「董事會」）、 監事會及董事、監事、高級管理人員保證季度報告內容的真實、準確、 完 整，不 存 在 虛 假 記 載、誤 導 性 陳 述 或 者 重 大 遺 漏，並 承 擔 個 別 和 連 帶 的 法 律 責 任。 2. 公司負責人胡回春、主管會計工作負責人胡壽軍及會計機構負責人（會 計 主 管 人 員）薛 剛 保 證 季 度 報 告 中 財 務 報 表 的 真 實、準 確、完 整。 3. 本 公 司 第 三 季 度 報 告 未 經 審 計。 一. 主要財務數據 （一）主要會計數據和財務指標（按中華人民共和國企業會計準則編製， 未 經 審 核） 單 位：元 幣 種：人 民 幣 ...

Core Insights - The article highlights the current premium rates of AH shares, with Northeast Electric (00042) leading at a premium rate of 881.82% [1] - The bottom three in terms of premium rates are Ningde Times (03750) at -17.23%, China Merchants Bank (03968) at 1.09%, and Hengrui Medicine (01276) at 1.64% [1] - The article also discusses the deviation values of these stocks, indicating significant discrepancies between their A-shares and H-shares [1] Premium Rate Rankings - The top three AH shares by premium rate are: 1. Northeast Electric (00042) with a premium rate of 881.82% and a deviation value of 68.11% [1] 2. Hongye Futures (03678) with a premium rate of 248.18% and a deviation value of 18.60% [2] 3. Zhejiang Shibao (01057) with a premium rate of 247.12% and a deviation value of 23.76% [1] - The bottom three AH shares by premium rate are: 1. Ningde Times (03750) with a premium rate of -17.23% and a deviation value of -2.71% [1] 2. China Merchants Bank (03968) with a premium rate of 1.09% and a deviation value of -3.46% [1] 3. Hengrui Medicine (01276) with a premium rate of 1.64% and a deviation value of 4.78% [1] Deviation Value Rankings - The top three AH shares by deviation value are: 1. Northeast Electric (00042) with a deviation value of 68.11% [1] 2. Shandong Molong (00568) with a deviation value of 29.50% [1] 3. Changfei Optical Fiber (06869) with a deviation value of 28.06% [1] - The bottom three AH shares by deviation value are: 1. Shanghai Electric (02727) with a deviation value of -27.72% [2] 2. China Foreign Transport (00598) with a deviation value of -17.01% [2] 3. COSCO Shipping Energy (01138) with a deviation value of -15.18% [2]

Group 1: Nanjing Panda Case - Nanjing Panda has been involved in a false statement case leading to investor claims, with ongoing developments [1] - The company announced an expected net profit for 2023 between 16.19 million and 24.29 million CNY, but the actual reported net profit was a loss of 237.86 million CNY [1] - The discrepancy between the profit forecast and actual results has raised concerns about the accuracy of information disclosure [1] Group 2: Hengrun Shares Case - Hengrun Shares is facing a civil claim for market manipulation, with a case filed in Nanjing Intermediate People's Court [2] - The company’s stock price increased by 96.65% from July 29 to November 8, 2023, while the Shanghai Composite Index fell by 6.86% during the same period, indicating significant price manipulation [3] - Investors who traded Hengrun Shares between July 10 and December 27, 2023, may initiate claims for damages [4]

Core Insights - The article highlights the top and bottom AH share premium rates, with Northeast Electric (00042) leading at 918.87% and Ningde Times (03750) at -17.09% [1][2] Summary by Category Top AH Share Premium Rates - Northeast Electric (00042) has a premium rate of 918.87% with a deviation value of 109.61% [2] - Hongye Futures (03678) follows with a premium rate of 246.28% and a deviation value of 16.95% [2] - Zhejiang Shibao (01057) ranks third with a premium rate of 241.04% and a deviation value of 19.03% [2] Bottom AH Share Premium Rates - Ningde Times (03750) has the lowest premium rate at -17.09% with a deviation value of -2.80% [2] - Heng Rui Pharmaceutical (01276) has a premium rate of -1.38% and a deviation value of 1.69% [2] - China Merchants Bank (03968) has a premium rate of 0.51% with a deviation value of -4.32% [2] Top AH Share Deviation Values - Northeast Electric (00042) leads with a deviation value of 109.61% [2] - Changfei Optical Fiber (06869) has a deviation value of 31.51% [2] - Shandong Molong (00568) follows with a deviation value of 26.68% [2] Bottom AH Share Deviation Values - Shanghai Electric (02727) has the lowest deviation value at -25.42% [3] - China National Foreign Trade Transportation Group (00598) has a deviation value of -16.00% [3] - COSCO Shipping Energy Transportation (01138) has a deviation value of -14.18% [3]

Core Insights - Nanjing Panda Electronics Co., Ltd. has seen a stock price increase of 5.09%, reaching 11.98 CNY per share, with a trading volume of 480 million CNY and a turnover rate of 6.04%, resulting in a total market capitalization of 10.948 billion CNY [1] Group 1: Company Overview - Nanjing Panda was established on April 29, 1992, and went public on November 18, 1996 [1] - The company operates primarily in three business segments: Smart Transportation and Safe City (53.70% of revenue), Green Service-oriented Electronic Manufacturing (46.55%), and Industrial Internet and Intelligent Manufacturing (4.08%) [1] Group 2: Shareholder Information - The top circulating shareholder is the Fuqua Fund, specifically the Fuqua Military Industry Theme Mixed A (005609), which held 3.1815 million shares, unchanged from the previous period, representing 0.35% of circulating shares [2] - The fund has generated an estimated floating profit of approximately 1.8453 million CNY today [2] Group 3: Fund Performance - The Fuqua Military Industry Theme Mixed A fund, managed by Meng Haozhi, has a total asset size of 5.139 billion CNY [3] - Since its inception on March 29, 2018, the fund has achieved a return of 48.59%, with a year-to-date return of 8.96% and a one-year return of 11.99% [2][3]

证券代码：600775 证券简称：南京熊猫 公告编号：临 2025-025 南京熊猫电子股份有限公司 关于公开挂牌转让参股公司股权的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 二、交易的进展情况 2025 年 8 月 15 日，ENC49%的股权在上海联合产权交易所首次公开挂牌转 让，首次正式信息披露的转让底价为人民币 51,650.85 万元。2025 年 9 月 12 日， 首次挂牌信息披露期满，未征集到意向受让方。2025 年 9 月 15 日，ENC49%的 股权以转让底价人民币 46,500 万元重新进行信息披露。 2025 年 9 月 26 日，公司收到上海联合产权交易所的通知，根据其交易规则， ENC49%的股权的受让方确定为爱立信（中国）有限公司（以下简称"爱立信（中 国）"）。2025 年 9 月 29 日，公司及其他 ENC 中方股东与爱立信（中国）签 订了《产权交易合同》，ENC49%的股权的成交价格为人民币 46,500 万元，公司 所持 ENC27%的股权的对应价值为人民 ...