Core Viewpoint - Fala Electronics, a leading manufacturer of film capacitors in China, has shown strong financial performance and growth potential in the renewable energy sector, with significant revenue and profit figures for Q3 2025 [2][6]. Financial Performance - In Q3 2025, Fala Electronics reported revenue of 3.944 billion yuan, ranking 6th in the industry, surpassing the industry average of 2.256 billion yuan and the median of 0.895 billion yuan, but below the top competitors [2]. - The company's net profit for the same period was 889 million yuan, ranking 2nd in the industry, significantly higher than the industry average of 305 million yuan and the median of 120 million yuan [2]. - The main business revenue from capacitors was 2.356 billion yuan, accounting for 94.28% of total revenue [2]. Profitability and Debt Management - Fala Electronics had a debt-to-asset ratio of 30.86% in Q3 2025, slightly up from 30.09% year-on-year but lower than the industry average of 31.50% [3]. - The gross profit margin was 32.88%, down from 34.11% year-on-year but still above the industry average of 27.75% [3]. Executive Compensation - The chairman, Lu Huixiong, received a salary of 3.3777 million yuan in 2024, an increase of 740,800 yuan from the previous year [4]. - The general manager, Chen Guobin, saw a slight decrease in salary to 2.9515 million yuan in 2024 [4]. Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 18.30% to 20,900 [5]. - The average number of circulating A-shares held per shareholder decreased by 15.47% to 10,800 [5]. Market Position and Future Outlook - Fala Electronics is experiencing growth in the new energy application market, particularly in electric vehicles, photovoltaics, and energy storage [6]. - Revenue projections for 2025, 2026, and 2027 are 5.86 billion, 6.81 billion, and 7.84 billion yuan, respectively, with net profits expected to be 1.33 billion, 1.65 billion, and 1.91 billion yuan [6]. - The company is expected to maintain a "buy" rating due to its strong market position and growth potential [6].

Core Viewpoint - Farah Electronics (600563.SH) reported a year-on-year increase in revenue and net profit for Q3 2025, indicating positive financial performance and growth potential [1] Financial Performance - The company's operating revenue for Q3 2025 reached 1.445 billion yuan, representing a year-on-year increase of 9.31% [1] - The net profit attributable to shareholders of the listed company was 318 million yuan, showing a year-on-year increase of 8.69% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 311 million yuan, reflecting a year-on-year increase of 6.87% [1]

Core Viewpoint - Farah Electronics (600563.SH) reported a year-on-year revenue growth of 14.69% for the first three quarters of 2025, reaching a total revenue of 3.944 billion yuan [1] - The net profit attributable to shareholders increased by 14.58% year-on-year, amounting to 888 million yuan [1] - The basic earnings per share stood at 3.95 yuan [1] Financial Performance - Total revenue for the first three quarters: 3.944 billion yuan, a 14.69% increase year-on-year [1] - Net profit attributable to shareholders: 888 million yuan, reflecting a 14.58% year-on-year growth [1] - Basic earnings per share: 3.95 yuan [1]

证券代码：600563 证券简称：法拉电子 编号：2025-022 厦门法拉电子股份有限公司 关于变更签字会计师的公告 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。 一、本次签字会计师变更情况 安永华明作为公司 2025 年度财务报告、内部控制审计报告的审计机构，原 指派李剑光、陈基梁作为签字会计师为公司提供审计服务。鉴于原签字会计师陈 基梁已辞职，为按时完成公司 2025 年度审计工作，更好地配合公司 2025 年度信 息披露工作，经安永华明安排，指派郑钰接替陈基梁作为签字会计师，继续完成 公司 2025 年度财务报告审计、内部控制审计相关工作。变更后的财务报告审计、 内部控制审计签字会计师为李剑光、郑钰。 二、本次变更人员的基本信息： 1．签字会计师郑钰，于 2020 年成为注册会计师，2015 年开始从事上市公 司审计，2018 年开始在安永华明专职执业，2025 年开始为公司提供审计服务。 近三年未签署上市公司审计报告。郑钰自 2015 年开始从事上市公司审计及与资 本市场相关的专业服务工作，涉及的行业包括半导体、工 ...

厦门法拉电子股份有限公司 关于子公司不再纳入合并报表范围的公告 证券代码：600563 证券简称：法拉电子 编号：2025-021 公司持有上海美星40%的股份，上海美星董事会成员共7名，其中由公司委派 4名。公司是上海美星最大单一股东，持有40%的股份，第二大股东傅翼持有上海 美星15%的股份，公司与傅翼签有一致行动人协议，上海美星其他45%的股份由10 位个人股东持有，持股比例2.5%-12.5%不等，公司可控制的表决权超过其他个人 股东持有的表决权份额。因此公司对上海美星拥有实际控制权，从而纳入公司合 并报表范围。 现因公司收到傅翼提出解除一致行动关系的请求，经友好协商，公司与傅翼 签署《一致行动关系解除协议》，双方一致行动关系终止，原《股东一致行动人 协议》项下的权利义务关系终止，双方不再受原《股东一致行动人协议》中有关 一致行动相关约定的约束。同时公司在上海美星董事会中的席位调整为3名，公 司不再拥有对上海美星的控制权。公司持有上海美星的股份没有变化。 1 根据《企业会计准则第33号——合并财务报表》的规定:"合并财务报表的 合并范围应当以控制为基础予以确定。控制,是指投资方拥有对被投资方的权力, ...

证券代码：600563 证券简称：法拉电子 编号：2025-020 厦门法拉电子股份有限公司 第九届董事会 2025 年第四次会议决议公告 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。 与会董事经过认真审议，以同意 9 票，反对 0 票，弃权 0 票，一致通过 了以下决议： （一）《2025 年三季度报告》 审议并通过了《2025 年三季度报告》及其摘要。 一、 董事会会议召开情况 （一）本次董事会会议的召开符合《公司法》等有关法律、法规、规章以及 《公司章程》的有关规定。 （二）厦门法拉电子股份有限公司（以下简称"公司"）于 2025 年 10 月 20 日以专人送达、传真或邮件的方式向全体董事发出关于召开公司第九届 2025 年 第四次董事会会议的通知。 （三）本次董事会会议于 2025 年 10 月 30 日以现场结合通讯方式召开。 （四）本次董事会会议应到董事 9 人，实到董事 9 人，公司监事及高管人员 列席了会议。 （五）本次董事会会议的主持人为卢慧雄先生。 二、 董事会会议审议情况 本议案已经公司第九届董事会审 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥1,444,967,988.51, representing a year-on-year increase of 9.31%[4] - Total profit for the quarter was ¥368,187,375.93, reflecting a growth of 9.04% compared to the same period last year[4] - Net profit attributable to shareholders was ¥318,272,254.44, an increase of 8.69% year-on-year[4] - The basic earnings per share for the quarter stood at ¥1.41, up by 8.46% from the previous year[5] - Total operating revenue for the first three quarters of 2025 reached ¥3,944,274,904.09, an increase of 14.7% compared to ¥3,439,073,688.39 in the same period of 2024[19] - Operating profit for the first three quarters of 2025 was ¥1,021,026,993.11, up from ¥893,191,608.00 in 2024, reflecting a growth of 14.3%[19] - Net profit attributable to shareholders of the parent company for the first three quarters of 2025 was ¥887,693,879.97, compared to ¥774,767,524.51 in 2024, representing an increase of 14.6%[20] - Earnings per share for the first three quarters of 2025 was ¥3.95, up from ¥3.44 in the same period of 2024[20] Assets and Liabilities - The total assets of the company at the end of the reporting period were ¥8,361,532,519.76, marking a 6.96% increase from the end of the previous year[5] - Total current assets as of September 30, 2025, amounted to CNY 5,182,932,163.60, a decrease from CNY 5,319,265,734.02 as of December 31, 2024, reflecting a decline of approximately 2.57%[15] - Total non-current assets as of September 30, 2025, were CNY 3,178,600,356.16, up from CNY 2,498,485,615.82, reflecting an increase of about 27.27%[16] - Total liabilities as of the end of the reporting period were ¥2,580,291,234.68, up from ¥2,469,460,524.28 in the previous year, marking an increase of 4.5%[17] - Total current liabilities amounted to CNY 2,334,477,119.40, a slight increase from CNY 2,266,158,040.82, representing an increase of about 3.01%[16] Shareholder Information - The company had a total of 20,896 common shareholders at the end of the reporting period[10] - The largest shareholder, Xiamen Fala Development Co., Ltd., holds 37.33% of the shares, totaling 84,000,000 shares[10] - Total equity attributable to shareholders of the parent company was ¥5,726,345,906.08, compared to ¥5,288,328,855.22 in 2024, reflecting a growth of 8.3%[17] Cash Flow - The cash flow from operating activities for the year-to-date was ¥1,068,302,235.97, showing an increase of 11.97%[5] - Cash flow from operating activities for the first three quarters of 2025 was ¥1,068,302,235.97, compared to ¥954,131,644.93 in 2024, indicating an increase of 11.9%[22] - The net cash flow from investing activities was -$660.63 million, compared to -$97.11 million in the previous period, indicating a significant increase in cash outflow[23] - Total cash and cash equivalents at the end of the period amounted to $294.12 million, down from $999.47 million at the end of the previous period[23] - Cash flow from financing activities resulted in a net outflow of -$456.14 million, slightly higher than the previous period's outflow of -$449.75 million[23] Investment and Expenses - Research and development expenses for the first three quarters of 2025 were ¥141,812,101.11, an increase from ¥122,026,246.42 in 2024, indicating a growth of 16.3%[19] - The company reported a total investment cash outflow of $4.01 billion, compared to $1.37 billion in the previous period, reflecting increased investment activities[23] - The company distributed dividends and interest payments totaling $456.14 million, slightly up from $450.25 million in the previous period[23] Other Financial Information - Non-recurring gains and losses for the quarter totaled ¥6,942,973.40, with a year-to-date total of ¥20,720,972.34[8] - Other comprehensive income after tax for the first three quarters of 2025 was ¥323,170.89, compared to ¥189,516.65 in 2024, showing an increase of 70.4%[20] - The impact of exchange rate changes on cash and cash equivalents was a positive $15.52 million, contrasting with a negative impact of -$1.03 million in the previous period[23] - The company is set to implement new accounting standards starting in 2025, which may affect future financial reporting[24]

Robotics - Dongfang Electric Heat has sent samples of electronic skin to leading robotics companies [1] - Hongjing Optoelectronics has initiated research and development on humanoid robots and has sent samples [1] - Baolong Technology plans to gradually invest resources to expand its business in the robotics field [1] Deep Earth Economy - Boying Special Welding's anti-corrosion and anti-wear welding technology can be applied to oil pipelines in deep earth oil and gas transportation [1] - Baotailong's coal and graphite resources are currently not classified under the "deep earth economy" category [1] Consumer Electronics - Longli Technology's LIPO technology products have achieved mass production in projects such as wristbands and mobile phones [1] Charging and Swapping - Green Energy Smart Charging has technical and business cooperation with CATL in the charging and swapping business [1] - Dazhong Transportation has not yet engaged in the charging and swapping business [1] Other Developments - Huagong Technology has seen bulk shipments of 400G/800G optical modules from overseas equipment and channel vendors [1] - Lingyi Zhi Zao has made bulk shipments of cooling modules for international clients such as AMD [1] - Farah Electronics' capacitors are used in ultra-high voltage transmission and transformation applications [1] - Huate Gas has supplied a small quantity of electronic specialty gases to Xinkai, with a minor business proportion [1] - Benchuan Intelligent's high-end PCB products have achieved small batch applications in CPO-related projects [1] - Fangda Special Steel has not yet collaborated with Huawei on "digital twin" projects related to blast furnaces [1] - Hengdian East Magnetic focuses its energy storage business on household storage, with a small portion of shipments in the European market [1] - Siwei Tuxin and Jianzhizhi Robot have collectively secured 5.85 million sets of intelligent driving solutions from 2024 to the first half of 2025 [1] - iFlytek maintains a good cooperation with Moore Threads in the field of artificial intelligence [1]

Group 1 - The company confirmed that its capacitors are used in ultra-high voltage transmission and transformation applications [2] - The company did not disclose the revenue proportion of capacitors used in ultra-high voltage applications [2]

Core Points - The stock price of Fala Electronics dropped by 2.02% on October 22, reaching 120.10 CNY per share with a trading volume of 145 million CNY and a turnover rate of 0.53% [1] - The company has a total market capitalization of 27.023 billion CNY and has seen a year-to-date stock price increase of 2.72% [1] - Fala Electronics specializes in the research, production, and sales of film capacitors, with 94.28% of its revenue coming from capacitors [1] Financial Performance - For the first half of 2025, Fala Electronics reported a revenue of 2.499 billion CNY, representing an 18.05% year-on-year growth, and a net profit attributable to shareholders of 569 million CNY, up 18.15% year-on-year [2] - The company has distributed a total of 4.38 billion CNY in dividends since its A-share listing, with 1.305 billion CNY distributed in the last three years [2] Shareholder Structure - As of June 30, 2025, the number of shareholders for Fala Electronics was 17,700, a decrease of 11.03% from the previous period [2] - The largest shareholder, Hong Kong Central Clearing Limited, holds 15.8777 million shares, a decrease of 2.386 million shares from the previous period [2]