证券代码：600452 证券简称：涪陵电力 编号：2025—043 重庆涪陵电力实业股份有限公司 关于 2025 年第三季度业绩说明会召开情况的 公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，对公告的虚假记载、 误导性陈述或者重大遗漏负连带责任。 重庆涪陵电力实业股份有限公司（以下简称"公司"）于 2025 年 11 月 24 日 11:00-12:00 在 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/）,采用网络互动形式召开了公司 2025 年 第三季度业绩说明会。关于本次业绩说明会的召开事项，公司已于 2025 年 11 月 15 日在《中国证券报》《上海证券报》《证券时报》《证券日报》 及上海证券交易所网站上披露了《重庆涪陵电力实业股份有限公司关于召 开 2025 年第三季度业绩说明会的公告》（编号：2025-042）。现将本次业 绩说明会有关事项公告如下： 一、本次说明会召开情况 2025年11月24日，公司总经理蔡彬、副总经理陈磊、财务总监兼董事 会秘书刘薇以及独立董事刘伟出席了本次业绩说明会，针对公司20 ...

Group 1 - The company will hold an investor briefing on November 24, 2025, from 11:00 to 12:00 to discuss its Q3 2025 performance and financial results [2][3][5] - The briefing will take place at the Shanghai Stock Exchange Roadshow Center and will be conducted in an interactive online format [2][4][5] - Investors can submit questions from November 17 to November 21, 2025, through the Roadshow Center website or via the company's email [2][4][6] Group 2 - The company aims to provide a comprehensive understanding of its Q3 2025 operational results and financial status during the briefing [2][3] - The management team, including the General Manager and the Board Secretary, will be present to address investor inquiries [4][5] - After the briefing, investors can access the main content and details of the event on the Roadshow Center website [6][7]

证券代码：600452 证券简称：涪陵电力 公告编号：2025-042 重庆涪陵电力实业股份有限公司 关于召开 2025 年第三季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： 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年第三 季度的经营成果及财务指标的具体情况与投资者进行互动交流和沟通， 在信息披露允许的范围内就投资者普遍关注的问题进行回答。 会议召开时间：2025 年 11 月 24 日(星期一) 上午 11:00-12:00 会议召开地点：上海证券交易所上证路演中心（网址： 二、 说明会召开的时间、地点 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 11 月 17 日(星期一) 至 11 月 21 日(星期五)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 flepc600452@163.com 进行提问。公司将在说明会上对投资者普遍关注的问题进 ...

Market Overview - The electricity sector experienced a slight decline of 0.04% on the previous trading day, with Leshan Electric Power leading the drop [1] - The Shanghai Composite Index closed at 3997.56, down 0.25%, while the Shenzhen Component Index closed at 13404.06, down 0.36% [1] Stock Performance - Notable gainers in the electricity sector included: - Zhaoxin Co., Ltd. (002256) with a closing price of 3.39, up 3.99% on a trading volume of 2.02 million shares and a transaction value of 685 million yuan [1] - Luxiao Technology (002617) closed at 9.06, up 3.07% with a transaction value of 148.9 million yuan [1] - Chuaneng Power (000155) closed at 12.67, up 2.76% with a transaction value of 892 million yuan [1] - Conversely, Leshan Electric Power (600644) saw a significant decline of 5.20%, closing at 11.85 with a transaction value of 954 million yuan [2] - Other notable decliners included: - Huami Environmental Energy (600475) down 4.49% [2] - Haoling Power (600452) down 2.54% [2] Capital Flow - The electricity sector experienced a net outflow of 1.461 billion yuan from main funds, while retail investors contributed a net inflow of 1.5 billion yuan [2] - Key stocks with significant capital flow included: - Luxiao Technology (002617) with a net inflow of 77.42 million yuan from main funds [3] - Zhaoxin Co., Ltd. (002256) with a net inflow of 69.06 million yuan [3] - Jiaze New Energy (601619) with a net inflow of 57.21 million yuan [3]

Core Points - Fuling Power's stock price decreased by 2.05% on November 7, trading at 10.03 CNY per share with a market capitalization of 15.41 billion CNY [1] - The company has seen a year-to-date stock price decline of 4.48%, with a recent 5-day increase of 1.42% and a 20-day increase of 3.40% [1] - Fuling Power's main business revenue composition includes 65.24% from power grid operations and 34.76% from energy-saving services [1] Financial Performance - For the period from January to September 2025, Fuling Power reported a revenue of 2.278 billion CNY, a year-on-year decrease of 5.43%, and a net profit attributable to shareholders of 296 million CNY, down 29.58% year-on-year [2] - Cumulative cash dividends since the company's A-share listing amount to 1.156 billion CNY, with 539 million CNY distributed over the past three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 22.20% to 36,200, while the average circulating shares per person increased by 28.53% to 42,431 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 11.38 million shares to 23.0431 million shares [3]

Core Insights - Fuling Power (600452.SH) reported a decline in both revenue and net profit for Q3 2025, with total revenue at 2.278 billion yuan, down 5.43% year-on-year, and net profit at 296 million yuan, down 29.58% year-on-year [1][3] Financial Performance - Total revenue for the company was 2.278 billion yuan, ranking 44th among peers, a decrease of 131 million yuan from the same period last year [1] - Net profit attributable to shareholders was 296 million yuan, ranking 39th among peers, a decrease of 124 million yuan year-on-year [1] - Operating cash flow was 646 million yuan, ranking 44th among peers, down 6.09 billion yuan, a decline of 48.52% year-on-year [1] Key Ratios - The latest debt-to-asset ratio is 14.63%, ranking 3rd among peers, down 0.87 percentage points from the previous quarter and down 10.97 percentage points year-on-year [3] - Gross margin stands at 19.17%, ranking 48th among peers, up 1.09 percentage points from the previous quarter but down 1.54 percentage points year-on-year [3] - Return on equity (ROE) is 5.41%, ranking 36th among peers, down 2.56 percentage points year-on-year [3] Earnings Per Share and Turnover - Diluted earnings per share are 0.19 yuan, ranking 40th among peers, a decrease of 0.08 yuan year-on-year, down 29.63% [3] - Total asset turnover ratio is 0.35 times, ranking 9th among peers, unchanged from the previous year but up 0.60 compared to the same period last year [3] - Inventory turnover ratio is 819.78 times, ranking 2nd among peers, down 75.01 times year-on-year, a decline of 8.38% [3] Shareholder Structure - The number of shareholders is 36,200, with the top ten shareholders holding 883 million shares, accounting for 57.49% of total equity [3] - The largest shareholder is Chongqing Chuandong Power Group Co., Ltd., holding 41.65% [3]

Core Viewpoint - The company, Chongqing Fuling Power Industry Co., Ltd., emphasizes the authenticity, accuracy, and completeness of its quarterly report, ensuring no false records or significant omissions exist [2][3]. Financial Data - The financial statements for the third quarter are unaudited, covering the period from the beginning to the end of the quarter [3][6]. - The report includes major accounting data and financial indicators, although specific figures are not provided in the documents [3][6]. Shareholder Information - There is no change in the number of shareholders or the top ten shareholders' holdings compared to the previous period [4]. Other Important Information - The company does not have any additional significant information regarding its operational performance during the reporting period [5].

Core Viewpoint - Fuling Electric Power (600452.SH) reported a decline in both revenue and net profit for the first three quarters of 2025 compared to the previous year [1] Financial Performance - The total operating revenue for the first three quarters reached 2.278 billion yuan, representing a year-on-year decrease of 5.43% [1] - The net profit attributable to shareholders of the parent company was 296 million yuan, down 29.58% year-on-year [1] - The basic earnings per share stood at 0.19 yuan [1]

Core Viewpoint - Fuling Electric (600452) reported a decline in both revenue and net profit for the third quarter of 2025, primarily due to increased credit impairment losses compared to the previous year [1] Financial Performance - The company's third-quarter revenue was 861 million yuan, a year-on-year decrease of 7.92% [1] - Net profit for the third quarter was 129 million yuan, down 42.39% year-on-year [1] - For the first three quarters of 2025, total revenue reached 2.278 billion yuan, reflecting a year-on-year decline of 5.43% [1] - Net profit for the first three quarters was 296 million yuan, a decrease of 29.58% compared to the same period last year [1] Reasons for Performance Changes - The decline in performance is attributed to the absence of a one-time recovery of long-aged receivables that had previously reduced credit impairment losses in the same period last year, leading to increased credit impairment losses this year [1]

Financial Performance - The company's operating revenue for the third quarter was ¥861,200,741.77, a decrease of 7.92% compared to the same period last year[4] - The total profit for the quarter was ¥147,025,590.32, reflecting a significant decline of 43.50% year-over-year[4] - The net profit attributable to shareholders was ¥129,054,853.21, down 42.39% from the previous year[4] - The basic earnings per share decreased by 46.67% to ¥0.08[5] - The company's total revenue for the first three quarters of 2025 was ¥2,277,546,584.52, a decrease of 5.43% compared to ¥2,408,402,297.08 in the same period of 2024[18] - Operating profit for the first three quarters of 2025 was ¥348,645,107.87, down 30.2% from ¥499,509,916.79 in the first three quarters of 2024[19] - Net profit for the first three quarters of 2025 was ¥295,864,839.28, a decline of 29.5% compared to ¥420,134,081.71 in the same period of 2024[19] - The company reported a basic earnings per share of ¥0.19 for the first three quarters of 2025, down from ¥0.27 in the same period of 2024[20] Assets and Liabilities - Total assets at the end of the period were ¥6,409,600,538.03, a decrease of 1.48% compared to the end of the previous year[5] - Total assets as of the end of the reporting period were ¥6,409,600,538.03, slightly down from ¥6,505,938,191.52 at the end of the previous year[16] - Total liabilities decreased to ¥937,578,236.37 from ¥1,194,743,587.97 in the previous year, indicating a reduction of approximately 21.5%[16] - The company’s total non-current assets amounted to ¥2,805,275,064.55, a decrease from ¥3,186,766,736.77 in the previous year[16] - The company's equity attributable to shareholders increased by 3.03% to ¥5,472,022,301.66[5] - The company’s total equity increased to ¥5,472,022,301.66 from ¥5,311,194,603.55, reflecting a growth of approximately 3.03%[16] Cash Flow - The cash flow from operating activities for the year-to-date was ¥645,889,944.63, down 48.52%[5] - The company's cash flow from operating activities for the first three quarters of 2025 was ¥645,889,944.63, a decrease of 48.5% from ¥1,254,600,890.69 in the first three quarters of 2024[22] - The company reported a significant outflow of ¥2,445,598,521.16 in the first three quarters of 2025, compared to ¥301,296,302.11 in the same period of 2024[22] - The net cash flow from investing activities was -$838.14 million, compared to -$295.96 million in the previous period[23] - The net cash flow from financing activities was -$149.65 million, down from -$172.36 million year-over-year[23] - The net increase in cash and cash equivalents was -$341.90 million, contrasting with an increase of $786.28 million in the prior period[23] - The ending balance of cash and cash equivalents was $707.04 million, significantly lower than $3.06 billion at the end of the previous period[23] Inventory and Receivables - Accounts receivable financing saw a 100% decrease, primarily due to the maturity of bank acceptance bills[9] - Inventory increased by 135.51%, mainly due to an increase in project reserve materials[9] - Accounts receivable increased to 669,444,622.69 from 539,860,520.36, indicating a rise in outstanding receivables[14] Expenses - R&D expenses for the current period were -100.00, primarily due to the absence of ongoing R&D projects[10] - Financial expenses increased by 54.59, attributed to optimized fund allocation and increased interest income[10] - Other income rose to 549.34, mainly due to the amortization of deferred income related to assets[10] - Investment income reached 121.29, driven by increased net profits from the associated company Chongqing Xinjianan Building Materials Co., Ltd.[10] - Total profit for the current reporting period was -43.50, primarily due to increased credit impairment losses[10] - Net profit attributable to shareholders for the current period was -42.39, reflecting an increase in credit impairment losses compared to the previous year[10] - Basic and diluted earnings per share for the current period were both -46.67, mainly due to increased credit impairment losses[10] - Cash flow from operating activities was -48.52, primarily due to a decrease in received energy efficiency payments[10] - The company reported a significant increase of 186.74% in taxes and surcharges, attributed to the absence of prior year's VAT refund adjustments[9]