Group 1 - The core point of the article is that Phoenix Optical (600071.SH) reported a decline in revenue and net profit for the third quarter of 2025 [1] - The company's operating revenue for the third quarter was 408 million yuan, representing a year-on-year decrease of 4.74% [1] - The net profit attributable to shareholders of the listed company was 7.78 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 7.10 million yuan [1]

Group 1 - The core viewpoint of the article highlights that Phoenix Optical (SH 600071) reported a decline in revenue and net profit for the first three quarters of 2025, indicating potential challenges in its financial performance [1] - The company's revenue for the first three quarters of 2025 was approximately 1.149 billion yuan, representing a year-on-year decrease of 5.56% [1] - The net profit attributable to shareholders of the listed company was about 29.41 million yuan, with basic earnings per share of 0.1 yuan [1] Group 2 - As of the report, Phoenix Optical has a market capitalization of 6.2 billion yuan [2]

Financial Performance - The company's operating revenue for the third quarter was CNY 408,032,680.79, a decrease of 4.74% compared to the same period last year[5] - The total profit for the period was CNY 7,649,436.49, with a net profit attributable to shareholders of CNY 7,782,313.13[5] - The basic earnings per share for the third quarter was CNY 0.03, unchanged from the previous year[5] - The weighted average return on net assets for the third quarter was 1.62%[5] - Total operating revenue for the first three quarters of 2025 was CNY 1,148,904,282.87, a decrease of 5.6% compared to CNY 1,216,519,600.18 in the same period of 2024[19] - The net profit for the first three quarters of 2025 is CNY 31,120,444.80, a significant recovery from a net loss of CNY 22,793,347.16 in the same period of 2024[20] - Operating profit for the first three quarters of 2025 reached CNY 31,987,059.94, compared to an operating loss of CNY 22,115,453.29 in the previous year[20] - Total comprehensive income for the first three quarters of 2025 is CNY 31,149,079.57, recovering from a total comprehensive loss of CNY 22,798,734.58 in the same period last year[20] - The company reported a basic and diluted earnings per share of CNY 0.1044, compared to a loss per share of CNY 0.0709 in the previous year[20] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was CNY 103,698,673.20, representing an increase of 12.51%[5] - Cash and cash equivalents as of September 30, 2025, were CNY 192,348,633.22, compared to CNY 209,129,227.05 at the end of 2024[15] - Cash flow from operating activities generated a net amount of CNY 103,698,673.20, an increase from CNY 92,170,982.92 in the first three quarters of 2024[23] - Cash and cash equivalents at the end of the period amounted to CNY 180,015,962.72, an increase from CNY 129,098,478.05 at the end of the same period in 2024[24] - Cash flow from investing activities generated a net inflow of CNY 24,346,687.81, a recovery from a net outflow of CNY 36,248,051.75 in the previous year[24] - Cash flow from financing activities resulted in a net outflow of CNY 139,384,008.66, slightly improved from a net outflow of CNY 149,069,414.30 in the same period last year[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,625,533,076.57, down 13.48% from the end of the previous year[6] - Total assets as of September 30, 2025, were CNY 1,625,533,076.57, compared to CNY 1,878,715,843.17 at the end of 2024[18] - Total liabilities decreased to CNY 1,071,381,461.89 from CNY 1,324,789,731.54, a reduction of 19.0%[17] Shareholder Equity - Shareholders' equity attributable to the parent company increased by 6.02% to CNY 503,878,508.56 compared to the end of the previous year[6] - The equity attributable to shareholders of the parent company increased to CNY 503,878,508.56 from CNY 475,249,779.32, an increase of 6.0%[18] - The total number of ordinary shareholders at the end of the reporting period was 28,640[12] Expenses and Costs - Total operating costs for the first three quarters of 2025 were CNY 1,143,828,694.72, down 9.7% from CNY 1,266,488,620.96 in the previous year[19] - Research and development expenses decreased to CNY 69,520,167.37 in 2025 from CNY 103,479,155.65 in 2024, reflecting a reduction of 32.8%[19] - The company recorded a decrease in cash received from sales of goods and services, totaling CNY 1,030,931,224.81, down from CNY 1,138,297,661.72 in the previous year[23] Other Financial Metrics - Non-recurring gains and losses for the period amounted to CNY 677,820.80, with government subsidies contributing CNY 858,533.62[8] - The company reported an investment income of CNY 4,830,624.72 for the first three quarters of 2025[19] - The company’s total assets impairment loss was CNY 2,000,641.41, a significant change from a gain of CNY 6,566,970.64 in the same period last year[20] - The company reported an increase in optical and controller business revenue, leading to improved gross margins and reduced expenses[9]

Company Overview - Phoenix Optical is located in Shangrao City, Jiangxi Province, established on May 23, 1997, and listed on May 28, 1997. The company specializes in optical component processing and lithium battery cell processing [1] - The main business revenue composition includes: controllers 35.82%, optical components 34.24%, precision processing 25.56%, optical instruments 2.59%, and others 1.79% [1] Financial Performance - For the first half of 2025, Phoenix Optical achieved operating revenue of 741 million yuan, a year-on-year decrease of 6.00%. The net profit attributable to the parent company was 21.63 million yuan, a year-on-year increase of 281.67% [2] - Since its A-share listing, the company has distributed a total of 119 million yuan in dividends, with no dividends distributed in the last three years [3] Stock Performance - As of September 26, Phoenix Optical's stock price increased by 2.03%, reaching 24.59 yuan per share, with a total market capitalization of 6.924 billion yuan [1] - Year-to-date, the stock price has risen by 17.94%, with a 2.97% increase over the last five trading days, 5.54% over the last 20 days, and 18.51% over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" once this year, with a net purchase of 13.75 million yuan on January 3 [1] Shareholder Information - As of June 30, 2025, the number of shareholders was 23,800, a decrease of 4.35% from the previous period, with an average of 11,849 circulating shares per person, an increase of 4.55% [2] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the third-largest shareholder, holding 3.2148 million shares, an increase of 1.6562 million shares from the previous period [3] Industry Context - Phoenix Optical belongs to the electronic industry, specifically in the optical optoelectronics sector, with concepts including automotive electronics, security, machine vision, optics, and Huawei concepts [2]

Core Viewpoint - The company, Phoenix Optical (600071), has stated that it is currently not involved in the production of high-end optical lenses for lithography machines [1] Company Summary - Phoenix Optical responded to investor inquiries on September 25, indicating its lack of involvement in high-end optical lenses for lithography machines [1]

Core Viewpoint - The company focuses on two main areas: optics and intelligent control, with its business primarily involving the research, manufacturing, and sales of optical and intelligent control products, and it currently does not engage in the production of high-end lithography optical lenses [1] Group 1 - The company is concentrated on the fields of optics and intelligent control [1] - The business activities include research, manufacturing, and sales of optical and intelligent control products [1] - The company has not ventured into high-end lithography optical lenses [1]

Market Performance - The optical and optoelectronic sector rose by 0.69% on September 22, with Hu塑控股 leading the gains [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] Top Gainers - Hu塑控股 (Code: 000509) closed at 3.48, up 10.13% with a trading volume of 837,400 shares and a transaction value of 286 million [1] - 冠捷科技 (Code: 000727) closed at 3.07, up 10.04% with a trading volume of 5,063,500 shares and a transaction value of 151.5 million [1] - 万润科技 (Code: 002654) closed at 15.82, up 10.01% with a trading volume of 1,894,800 shares and a transaction value of 292 million [1] - 腾景科技 (Code: 688195) closed at 143.00, up 8.22% with a trading volume of 148,900 shares and a transaction value of 2.03 billion [1] Top Losers - 永新元字 (Code: 603297) closed at 121.00, down 7.58% with a trading volume of 112,400 shares and a transaction value of 1.349 billion [2] - 苏大维格 (Code: 300331) closed at 38.79, down 3.89% with a trading volume of 439,200 shares and a transaction value of 1.701 billion [2] - 福光股份 (Code: 688010) closed at 32.99, down 3.65% with a trading volume of 94,500 shares and a transaction value of 312 million [2] Fund Flow Analysis - The optical and optoelectronic sector experienced a net outflow of 792 million from institutional investors, while retail investors saw a net inflow of 552 million [2] - The sector's overall fund flow indicates a mixed sentiment, with institutional investors pulling back while retail investors are actively buying [2] Individual Stock Fund Flow - 万润科技 (Code: 002654) had a net inflow of 594 million from institutional investors, but a net outflow of 261 million from retail investors [3] - 冠捷科技 (Code: 000727) saw a net inflow of 507 million from institutional investors, with retail investors experiencing a net outflow of 206 million [3] - 凤凰光学 (Code: 600071) had a net inflow of 742 million from institutional investors, while retail investors faced a net outflow of 789 million [3]

Company Overview - Phoenix Optical is located at 197 Fenghuang West Avenue, Shangrao City, Jiangxi Province, established on May 23, 1997, and listed on May 28, 1997. The company specializes in optical component processing and lithium battery cell processing [1] - The main business revenue composition includes: Controllers 35.82%, Optical Components 34.24%, Precision Processing 25.56%, Optical Instruments 2.59%, and Others 1.79% [1] Financial Performance - For the first half of 2025, Phoenix Optical achieved operating revenue of 741 million yuan, a year-on-year decrease of 6.00%. The net profit attributable to the parent company was 21.63 million yuan, a year-on-year increase of 281.67% [2] - As of June 30, 2025, the total number of shareholders was 23,800, a decrease of 4.35% from the previous period. The average circulating shares per person increased by 4.55% to 11,849 shares [2] Stock Market Activity - On September 19, Phoenix Optical's stock price increased by 2.03%, reaching 23.62 yuan per share, with a trading volume of 79.32 million yuan and a turnover rate of 1.20%. The total market capitalization is 6.651 billion yuan [1] - Year-to-date, the stock price has risen by 13.29%, with a recent decline of 0.96% over the last five trading days, a 4.93% increase over the last 20 days, and a 12.48% increase over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent appearance on January 3, where the net buying amount was 13.7487 million yuan, accounting for 17.66% of the total trading volume [1] Shareholder Information - As of June 30, 2025, the top ten circulating shareholders include Hong Kong Central Clearing Limited as the third-largest shareholder, holding 3.2148 million shares, an increase of 1.6562 million shares from the previous period [3] Dividend Information - Since its A-share listing, Phoenix Optical has distributed a total of 119 million yuan in dividends. However, there have been no dividend distributions in the last three years [3]

证券代码：600071 证券简称：凤凰光学 公告编号：2025-026 凤凰光学股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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： 会议召开时间：2025 年 09 月 24 日 （星期三） 16:00-17:00 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 09 月 17 日 （星期三） 至 09 月 23 日 （星 期二）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目 或通过公司邮箱 600071@phenixoptics.com.cn 进行提问。公司将在 说明会上对投资者普遍关注的问题进行回答。 凤凰光学股份有限公司（以下简称"公司"）已于 2025 年 8 月 26 日发布公司 2025 年半年度报告，为便于广大投资者更全面深入地 了解公司 2025 年半年度经营成果、财务状况，公司计划于 2025 年 0 ...

Investment Rating - The report does not explicitly state an investment rating for the industry or specific companies Core Insights - The intelligent vision industry is experiencing significant growth, with optical technology undergoing unprecedented innovation and expanding application scenarios [1][33] - The CIOE Precision Optics Exhibition showcased the latest products and technological advancements in the optical industry chain [1][33] Summary by Relevant Sections Sunny Optical - Sunny Optical launched several globally debut products under the theme of "All-Scenario Optical Innovation" and conducted technical lectures on various hot fields including mobile optics, automotive optics, lidar, AR/VR, and machine vision [2][34] - A breakthrough was achieved in global shutter sensors with ultra-small pixel sizes, reducing pixel size to below 1.0μm while maintaining low smearing characteristics at 120fps, suitable for high-speed imaging scenarios [4][35] - The new-generation automotive lidar optical solution offers ±2 cm ranging accuracy and a detection distance of 190 meters, enabling reliable environmental perception for advanced intelligent driving [4][36] Phoenix Optical - Phoenix Optical presented a diversified product matrix covering medical care, intelligent imaging, instruments, infrared detection, and intelligent control, emphasizing vertical integration of optomechatronics and computing [3][40] - Key medical products include a fluorescence laparoscope with 4K output and high-temperature sterilization capabilities, a 3D endoscope lens group for enhanced surgical experience, and a flexible endoscope lens for improved diagnostic accuracy [4][40][44] Goertek Optical - Goertek Optical introduced a differentiated product matrix for AR/VR, including silicon carbide optical waveguides and ultra-small full-color light engines, supporting the entire AR/VR scenario [5][45] - The SiC-etched full-color diffractive optical waveguide F30Se addresses stray light issues, enhancing the design of lightweight AR glasses [7][46] Industry Trends - The report highlights the emergence of various technological breakthroughs in MicroLED microdisplay, diffractive optical elements, and infrared materials, enriching application options in intelligent vision, AR/VR, and infrared detection [5][50] - The optical industry is moving towards deeper segmentation, with companies focusing on specific applications and technological advancements to meet market demands [5][50]