Core Insights - Dong'an Power (600178.SH) reported engine sales of 31,700 units in October 2025, representing a year-on-year increase of 19.55% [1] - The company also reported transmission sales of 18,600 units, showing a year-on-year growth of 31.38% [1] Summary by Category - **Sales Performance** - Engine sales reached 31,700 units, up 19.55% year-on-year [1] - Transmission sales totaled 18,600 units, reflecting a 31.38% year-on-year increase [1]

2025 年 11 月 4 日 哈尔滨东安汽车动力股份有限公司 2025 年 10 月份发动机及变速器产销数据快报如下： 单位：台 | 产品 | | 上年 | 增减比 | 销量 本年 | 上年同 | 增减比 | 上年 | 增减比 | 产量 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 本月 | | | | | 本月 | | | 本年 | 上年同 | 增减比 | | | | 同期 | 例（%） | 累计 | 期累计 | 例（%） | 同期 | 例（%） | 累计 | 期累计 | 例（%） | | 发动机 | 31682 | 26500 | 19.55 | 353138 | 291793 | 21.02 34758 | 26209 | 32.62 | 382321 | 313158 | 22.09 | | 变速器 | 18585 | 14146 | 31.38 | 137588 | 77587 | 77.33 3083 | 15607 | -80.25 | 149153 | 102032 | ...

Group 1 - The military equipment restructuring concept declined by 2.91%, ranking among the top declines in the concept sector, with companies like Changcheng Military Industry, Huqiang Technology, and Construction Industry experiencing significant drops [1] - The military equipment restructuring concept saw a net outflow of 672 million yuan in main funds today, with six stocks experiencing net outflows exceeding 10 million yuan, led by Changcheng Military Industry with a net outflow of 427 million yuan [2] - Other companies with notable net outflows include Chang'an Automobile, Construction Industry, and Hunan Tianyan, with net outflows of 130 million yuan, 69.64 million yuan, and 18.92 million yuan respectively [2] Group 2 - The top gainers in concept sectors included the China-South Korea Free Trade Zone with a gain of 1.45%, while the military equipment restructuring concept was among the largest losers [2] - The military equipment restructuring concept's leading stocks in terms of net outflow included Changcheng Military Industry, which had a decline of 6.58% and a turnover rate of 10.21% [2] - Other stocks in the military equipment restructuring concept that experienced declines include Chang'an Automobile (-0.88%), Construction Industry (-3.56%), and Hunan Tianyan (-2.16%) [2]

Group 1 - The military equipment restructuring concept declined by 1.14%, ranking among the top declines in the concept sector, with companies like Construction Industry, Hunan Tianyan, and Zhongguangxue experiencing significant drops [1] - The military equipment restructuring concept saw a net outflow of 8.81 billion yuan in main funds today, with seven stocks experiencing net outflows, and five stocks seeing outflows exceeding 10 million yuan [2] - The stock with the highest net outflow was Changcheng Military Industry, which had a net outflow of 663.32 million yuan, followed by Chang'an Automobile, Construction Industry, and Hunan Tianyan with net outflows of 99.25 million yuan, 65.11 million yuan, and 26.16 million yuan respectively [2] Group 2 - The top gainers in concept sectors included Hainan Free Trade Zone with a rise of 4.35%, while the military equipment restructuring concept was among the top decliners [2] - The military equipment restructuring concept's performance was contrasted with other sectors, such as BC Battery and Metal Zinc, which saw gains of 3.89% and 3.60% respectively [2] - The trading activity in the military equipment restructuring sector showed a significant turnover rate, with Changcheng Military Industry at 17.31% [2]

Core Viewpoint - Dong'an Power (600178) reported a mixed financial performance for Q3 2025, with a significant increase in revenue but a substantial net loss, indicating challenges in profitability despite revenue growth [3][5]. Financial Performance Summary - For Q3 2025, Dong'an Power's main revenue reached 1.29 billion yuan, a year-on-year increase of 26.18% [3][4]. - The company's net profit attributable to shareholders was -7.21 million yuan, a decline of 238.79% compared to the same quarter last year [3][4]. - The year-to-date revenue for the first three quarters of 2025 was 3.77 billion yuan, up 25.88% year-on-year, while the net profit attributable to shareholders was -328.45 million yuan, down 105.55% [3][5]. Cash Flow and Financial Health - The net cash flow from operating activities for the first three quarters was -375.12 million yuan, indicating cash outflows [14]. - The company's total assets as of September 30, 2025, were approximately 7.73 billion yuan, with a debt ratio of 54.49% [3][4]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 65,502, with the largest shareholder being Chen Zhi Automobile Technology Group Co., Ltd., holding 50.93% of the shares [7][9]. Corporate Announcements - Dong'an Power plans to engage in accounts receivable factoring with China Ordnance Equipment Group Commercial Factoring Co., Ltd., pending shareholder approval [5][15]. - The company will hold its fourth extraordinary general meeting on November 14, 2025, to discuss the aforementioned factoring business [16].

Core Viewpoint - Dong'an Power (600178.SH) reported a revenue of 3.766 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 25.88% [1] Financial Performance - The company recorded a net loss attributable to shareholders of 3.28 million yuan [1] - The non-recurring net profit loss amounted to 76.22 million yuan [1] - Basic earnings per share were reported at -0.0093 yuan [1]

Core Insights - Dong'an Power (600178.SH) reported a total operating revenue of 3.766 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 25.88% [1] - The net profit attributable to shareholders of the parent company was a loss of 3.2845 million yuan, which is an increase in loss of 1.6866 million yuan compared to the same period last year [1] - The basic earnings per share stood at -0.0093 yuan [1]

Core Viewpoint - Dong'an Power (SH 600178) announced the convening of its 17th board meeting on October 27, 2025, to review the Q3 2025 report and summary [1] Company Summary - Dong'an Power's revenue composition for the year 2024 is as follows: automotive parts manufacturing accounts for 98.59%, while other businesses make up 1.41% [1] - As of the report, Dong'an Power has a market capitalization of 6.1 billion yuan [1]

一、董事会会议召开情况 2025 年 10 月 17 日以直接送达、传真与邮件方式送达第九届董事 会全体董事，会议于 2025 年 10 月 27 日 9：00 时在东安动力办公楼 304 会议室以现场+视频方式召开，应到董事 8 人，实到董事 8 人。公 司 7 名高级管理人员列席了会议。本次会议由公司董事长陈笠宝先生 主持。会议符合《公司法》及《公司章程》的有关规定。 二、董事会会议审议情况 会议以记名投票表决的方式，审议并通过了如下议案： （一）《公司 2025 年第三季度报告及摘要》 具体内容详见上海证券交易所网站（www.sse.com.cn）。 证券代码：600178 股票简称：东安动力 编号：临 2025-064 哈尔滨东安汽车动力股份有限公司 九届十七次董事会会议决议公告 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。 本议案尚需提交公司股东会审议。 （三）《关于召开 2025 年第四次临时股东会的议案》 具体内容详见《哈尔滨东安汽车动力股份有限公司 2025 年第四 次临时股东会通知》（公告编号：临 202 ...

Financial Performance - Total revenue for the third quarter reached CNY 1,287,235,876.98, an increase of 26.18% compared to the same period last year[4] - The total profit for the quarter was a loss of CNY 5,018,475.82, representing a decrease of 1,331.78% year-on-year[4] - Net profit attributable to shareholders was a loss of CNY 7,205,672.66, with a basic and diluted earnings per share of -CNY 0.0065, down 158.98% from the previous year[4] - The company reported a year-to-date net profit attributable to shareholders of CNY -3,284,488.69, reflecting a year-on-year decline of 34.84%[4] - Net profit for the first three quarters of 2025 was ¥2,080,604.22, compared to a net profit of ¥4,477,908.75 in 2024, indicating a significant decline[21] - The total profit for the first three quarters of 2025 was ¥2,917,734.39, down from ¥4,477,908.75 in 2024[21] - Basic and diluted earnings per share for 2025 were both -¥0.0093, compared to -¥0.0034 in 2024, indicating a worsening financial position[21] Cash Flow and Liquidity - Cash flow from operating activities generated CNY 117,122,000.43, a significant improvement compared to a negative cash flow of CNY -375,117,654.99 year-to-date[4] - The company reported a net cash flow from operating activities of -¥375,117,654.99 for the first three quarters of 2025, an improvement from -¥458,578,031.93 in 2024[23] - Cash and cash equivalents at the end of the third quarter of 2025 were ¥942,879,120.34, down from ¥956,740,058.80 at the end of the same period in 2024[24] - The company's cash and cash equivalents increased to RMB 1,433,675,558.46 from RMB 1,329,421,050.68, reflecting a growth of approximately 7.8%[15] - The company generated ¥353,044,912.42 in cash from financing activities in 2025, a significant increase from ¥60,884,774.71 in 2024[24] Assets and Liabilities - Total assets increased to CNY 7,729,018,084.49, up 6.82% from the end of the previous year[5] - The company's current assets reached RMB 4,571,457,151.71, up from RMB 4,028,044,794.58, indicating an increase of about 13.5%[15] - Inventory levels rose significantly to RMB 1,081,506,566.05 from 670,511,473.72, representing a growth of approximately 61.0%[15] - The company's short-term borrowings increased to RMB 318,659,215.38 from RMB 155,897,440.29, marking a rise of about 104.0%[16] - Total liabilities grew to RMB 4,211,208,109.77, compared to RMB 3,721,265,128.28, which is an increase of approximately 13.2%[17] - Shareholders' equity attributable to the parent company decreased slightly to CNY 2,543,679,843.03, down 0.12% from the previous year-end[5] - The company's long-term investments decreased slightly to RMB 20,957,985.54 from RMB 22,213,436.94, a decline of about 5.6%[15] Operational Performance - Total operating revenue for the first three quarters of 2025 reached ¥3,766,350,616.76, a 25.8% increase from ¥2,992,116,328.10 in the same period of 2024[20] - Total operating costs increased to ¥3,881,111,379.08 in 2025, up 26.1% from ¥3,077,603,509.13 in 2024[20] - The company recorded an operating loss of ¥5,355,653.59 in 2025, compared to an operating loss of ¥3,863,039.77 in 2024[20] - Research and development expenses increased to ¥55,030,158.33 in 2025, up from ¥47,747,739.67 in 2024, reflecting a focus on innovation[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 65,502[10] - The company is undergoing a significant change in its controlling shareholder from China Weapon Equipment Group Co., Ltd. to China Changan Automobile Group Co., Ltd., with the process still in progress[12] Non-Recurring Items - Non-recurring gains and losses for the period amounted to CNY 7,879,352.52, with a significant portion attributed to other non-operating income[8] - The weighted average return on net assets was -0.1201%, a decrease of 0.27 percentage points compared to the previous year[4]