证券代码：600681 证券简称：百川能源 公告编号：2025-043 百川能源股份有限公司 关于购买资产及对外投资的公告 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： 交易简要内容：百川能源股份有限公司（以下简称"公司"或"上市公 司"）全资子公司百川企业管理有限公司（以下简称"百川企管"）拟通过股权 受让及增资方式合计投资 21,526.02 万元取得西安中科光电精密工程有限公司 （以下简称"西安中科光电"或"标的公司"）22.86%股权。本次股权受让及增 资完成后，公司将持有西安中科光电 25.20%股权。 交易实施尚需履行的审批及其他相关程序：本次交易事项在公司董事会 审批权限范围内，未达到股东会审议标准，无需提交公司股东会审议。 其它需要提醒投资者重点关注的风险事项 （一）本次交易标的系一家专业从事具身智能基础模型及具身智能机器人研 发生产业务的高新技术企业，目前尚未实现盈利，未来经营管理过程中可能面临 宏观经济及行业政策变化、经营管理、技术研发、市场开拓等不确定因素的影响， 未来经营情况存在不确定 ...

Core Viewpoint - Baichuan Energy (600681.SH) announced an investment of 215 million yuan to acquire a 22.86% stake in Xi'an Zhongke Optoelectronics Precision Engineering Co., Ltd., increasing its total ownership to 25.20% after the transaction [2] Group 1: Investment Details - The investment will be executed through equity transfer and capital increase [2] - Xi'an Zhongke Optoelectronics is a high-tech enterprise specializing in the research and production of embodied intelligent basic models and robots [2] - The target company has not yet achieved profitability [2] Group 2: Risks and Considerations - The investment involves entering a new business area, which carries management and operational risks associated with cross-industry investments [2]

Core Viewpoint - Baichuan Energy (600681.SH) plans to invest a total of 215 million yuan to acquire a 22.86% stake in Xi'an Zhongke Optoelectronic Precision Engineering Co., Ltd., increasing its total ownership to 25.20% after the transaction [1] Group 1 - The investment aligns with the company's long-term development strategy and is a significant step in advancing its strategic initiatives in new productivity sectors [1] - The transaction is expected to have a positive impact on the company's sustainable development and enhance its overall competitiveness [1] - The company's main business operations will remain unchanged following this investment [1]

Core Viewpoint - Baichuan Energy announced an investment of 215 million yuan to acquire a 22.86% stake in Xi'an Zhongke Optoelectronics Precision Engineering Co., Ltd., increasing its total ownership to 25.20% after the transaction [1] Group 1: Investment Details - The investment will be executed through equity transfer and capital increase [1] - Xi'an Zhongke Optoelectronics is a high-tech enterprise specializing in the research and production of embodied intelligent foundational models and robots [1] - The target company has not yet achieved profitability [1] Group 2: Risks and Considerations - The investment involves entering a new business area, which may present management and operational risks associated with cross-industry investments [1]

Core Viewpoint - Baichuan Energy (600681.SH) plans to invest a total of 215.26 million yuan to acquire a 22.86% stake in Xi'an Zhongke Optoelectronics Precision Engineering Co., Ltd., increasing its total ownership to 25.20% after the transaction [1] Group 1 - The investment will be executed through equity transfer and capital increase [1] - Xi'an Zhongke Optoelectronics is a high-tech enterprise specializing in the research and production of embodied intelligent foundational models and robots [1] - The target company has not yet achieved profitability [1]

Core Viewpoint - Baichuan Energy announced that its wholly-owned subsidiary Baichuan Qiguan plans to invest a total of 215 million yuan to acquire a 22.86% stake in Xi'an Zhongke Optoelectronics through equity transfer and capital increase [1] Investment Details - Baichuan Qiguan will pay 15.2602 million yuan in cash to acquire the equity held by Xike Angel Phase III and Wu Yiming in Xi'an Zhongke Optoelectronics [1] - Additionally, Baichuan Qiguan will invest 160 million yuan in cash to increase the capital of Xi'an Zhongke Optoelectronics, subscribing to 3.2 million yuan of the company's newly registered capital [1] - Upon completion of this transaction, the company will hold a 25.20% stake in Xi'an Zhongke Optoelectronics [1]

Core Points - The company guarantees the authenticity, accuracy, and completeness of the quarterly report, and assumes legal responsibility for any false records or misleading statements [2][8] - The third quarter financial statements have not been audited [3][7] - The board of directors held its third meeting on October 30, 2025, with all seven directors present, and the meeting complied with relevant laws and regulations [9][10] Financial Data - The report period refers to the three months from the beginning to the end of the quarter [3] - The company has not identified any non-recurring gains or losses for the reporting period [4] - The financial statements for the consolidated balance sheet, profit and loss statement, and cash flow statement for the first nine months of 2025 are prepared but not audited [6][7] Governance and Compliance - The board approved the 2025 third quarter report with unanimous support [10] - The company is revising and establishing governance systems, including the management of shares held by directors, supervisors, and senior management, as well as a system for deferring and exempting information disclosure [10]

Core Viewpoint - Baichuan Energy (600681.SH) reported its Q3 2025 results, highlighting a significant institutional ownership structure and changes in public fund disclosures [1] Institutional Ownership - As of October 30, 2025, five institutional investors hold a total of 586 million shares of Baichuan Energy, representing 43.71% of the company's total share capital [1] - The institutional ownership decreased by 0.43 percentage points compared to the previous quarter [1] Public Fund Disclosures - In this reporting period, 41 public funds were disclosed, which were not reported in the previous quarter [1] - Notable funds include Jin Yuan Shun An Yuan Qi Flexible Allocation Mixed Fund, Nan Hua Feng Li Quantitative Stock Selection Mixed A, Hongde Quality Governance Mixed Fund, and Yin Hua Xin Rui Flexible Allocation Mixed (LOF) A [1]

Core Viewpoint - Baichuan Energy (SH 600681) announced the convening of its 12th third board meeting on October 30, 2025, to review proposals regarding the revision and formulation of certain governance systems [1] Company Summary - For the fiscal year 2024, Baichuan Energy's revenue composition is as follows: the gas industry accounts for 96.72% and other businesses account for 3.28% [1]

Core Insights - Baichuan Energy reported a revenue of 3.688 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 5.80% [1] - The net profit attributable to shareholders was 189 million yuan, up 9.82% year-on-year, while the net profit excluding non-recurring items decreased by 11.23% to 131 million yuan [1] - The basic earnings per share stood at 0.14 yuan, with a weighted average return on equity of 5.17% [1] Financial Performance - The gross profit margin for the first three quarters was 11.93%, a decrease of 0.83 percentage points year-on-year, while the net profit margin was 5.33%, an increase of 0.01 percentage points [1] - In Q3 2025, the gross profit margin was 13.70%, down 2.54 percentage points year-on-year but up 0.13 percentage points quarter-on-quarter; the net profit margin was 3.41%, down 3.66 percentage points year-on-year and down 3.84 percentage points quarter-on-quarter [1] Expense Analysis - Total operating expenses for the period were 182 million yuan, a decrease of 6.03 million yuan year-on-year, with an expense ratio of 4.94%, down 0.46 percentage points [2] - Sales expenses decreased by 7.07% year-on-year, while management expenses increased by 1.40%, R&D expenses rose by 5.16%, and financial expenses decreased by 8.66% [2] Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 29,600, a decrease of 1,975 or 6.25% from the end of the previous half [2] - The average market value per shareholder increased from 149,000 yuan at the end of the previous half to 172,500 yuan, a growth of 15.78% [2] Company Overview - Baichuan Energy, established on March 18, 1992, and listed on October 18, 1993, is located in Beijing and primarily engages in urban gas business, including pipeline gas sales, gas engineering installation, and gas appliance sales [2] - The revenue composition is heavily weighted towards the gas segment, accounting for 98.93%, with the heating segment contributing 1.07% [2] - The company is classified under the public utility sector, specifically in gas, and is associated with concepts such as natural gas, low prices, and small-cap stocks [2]