Group 1 - The core point of the article is that China Shipbuilding Defense (SH 600685) held its 17th meeting of the 11th Board of Directors on October 30, 2025, where it reviewed the proposal for asset impairment provision [1] - For the year 2024, the revenue composition of China Shipbuilding Defense is 98.79% from industrial income and 1.21% from other businesses [1] - As of the time of reporting, the market capitalization of China Shipbuilding Defense is 39 billion yuan [1]

中船防务（600685）(00317)发布公告，为客观反映公司报告期内财务状况和经营成果，按照《企业会 计准则》和公司关于《资产减值准备计提与核销管理办法》等相关规定，公司及所属子公司在资产负债 表日全面检查各项资产，根据谨慎性原则，对存在减值迹象的资产及手持合同进行减值测试，合理预计 各项资产可能发生的损失，计提资产减值准备(含亏损合同损失)。根据测试结果，2025年第1-3季度公司 及所属子公司拟计提资产减值准备共计2.21亿元。 ...

Core Viewpoint - China Shipbuilding Defense (00317) announced a comprehensive assessment of its financial status and operational results for the reporting period, indicating a proactive approach to asset impairment testing and preparation [1] Financial Performance - The company and its subsidiaries conducted a thorough review of all assets as of the balance sheet date, adhering to the principles of prudence [1] - Based on the impairment testing results, the company plans to recognize a total asset impairment provision of 221 million yuan for the first three quarters of 2025 [1]

Core Viewpoint - China Shipbuilding Defense (00317.HK) has announced the establishment of a financial services framework agreement with China Shipbuilding Finance for the year 2026, following the completion of the 2025 agreement on December 31, 2025 [1] Group 1 - The 2025 financial services framework agreement between the group and China Shipbuilding Finance will be fulfilled by December 31, 2025 [1] - A new financial services framework agreement for 2026 has been signed to regulate transactions between the group and China Shipbuilding Finance from January 1, 2026, to December 31, 2026 [1]

此海外監管公告是根據香港聯合交易所有限公司證券上市規則第 13.10B 條發出。以下為中船海洋與防務裝備股份有限公司於上海證券交易所網站 (www.sse.com.cn）所刊發之【中船防務關于計提資産减值準備的公告】。 承董事會命 中船海洋與防務裝備股份有限公司 公司秘書 李志東 （在中華人民共和國註冊成立之股份有限公司） （H 股股票代碼：00317） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，幷明確表示，概不對因本公告全部或任何部份內容而産生或因倚賴該等內 容而引致的任何損失承擔任何責任。 海外監管公告 本公司董事會及全體董事保證本公告內容不存在任何虛假記載、誤導性陳 述或者重大遺漏，並對其內容的真實性、準確性和完整性承擔法律責任。 本公告公佈之日，董事會的八位成員分別為：執行董事羅兵先生；非執行董事顧遠先 生、任開江先生及尹路先生；以及獨立非執行董事林斌先生、聶煒先生、李志堅先生 及謝昕女士。 根据《企业会计准则第 1 号——存货》规定：资产负债表日，存 货应当按照成本与可变现净值孰低计量。存货成本高于其可变现净值 的，应当计提存货跌价 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 H 00317 持續關連交易及主要交易 2026框架協議 由於規管本集團與中船集團之間於2025年1月1日至2025年12月31日期間的持續關連交 易的2025框架協議將於2025年12月31日履行完畢，本公司與中船已訂立2026框架協 議，以繼續及規管本集團與中船集團之間於2026年1月1日至2026年12月31日期間的持 續關連交易。 訂立及實施2026框架協議及其項下擬進行之持續關連交易（連同建議年度上限）須於臨 時股東會上獲獨立股東批准。 香港上市規則的涵義 於本公告日期，中船為本公司的間接控股股東，故中船為本公司的關連人士。因此， 2026框架協議項下擬進行的交易構成香港上市規則第14A章項下的持續關連交易。 由於2026框架協議項下持續關連交易（由中船及成員單位為本集團提供的擔保服務除 外）的建議年度上限根據香港上市規則第14.07條按年度基準計算的一項或以上適用百 分比率超過5%，2026 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，幷明確表示，概不對因本公告全部或任何部份內容而産生或因倚賴該等內 容而引致的任何損失承擔任何責任。 （在中華人民共和國註冊成立之股份有限公司） （H 股股票代碼：00317） 海外監管公告 本公司董事會及全體董事保證本公告內容不存在任何虛假記載、誤導性陳 述或者重大遺漏，並對其內容的真實性、準確性和完整性承擔法律責任。 此海外監管公告是根據香港聯合交易所有限公司證券上市規則第 13.10B 條發出。以下為中船海洋與防務裝備股份有限公司於上海證券交易所網站 (www.sse.com.cn）所刊發之【中船防務第十一届董事會第十七次會議决議 公告】。 承董事會命 中船海洋與防務裝備股份有限公司 公司秘書 李志東 廣州，2025年10月30日 本公告公佈之日，董事會的八位成員分別為：執行董事羅兵先生；非執行董事顧遠先 生、任開江先生及尹路先生；以及獨立非執行董事林斌先生、聶煒先生、李志堅先生 及謝昕女士。 证券简称：中船防务 股票代码：600685 公告编号: 2025-045 中船海洋与防务装备股份有限公司 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 H 00317 持續關連交易及主要交易 2026金融服務框架協議 由於規管本集團與中船財務之間於2025年1月1日至2025年12月31日（包括首尾兩日）期 間的持續關連交易的2025金融服務框架協議將於2025年12月31日履行完畢，本公司與 中船財務已訂立2026金融服務框架協議，以繼續及規管本集團與中船財務之間於2026 年1月1日至2026年12月31日期間發生的金融服務。 訂立及實施2026金融服務框架協議及其項下擬進行之持續關連交易（連同建議年度上 限）須於臨時股東會上獲獨立股東批准。 香港上市規則的涵義 茲提述本公司日期為2024年9月27日的公告及日期為2024年11月12日的通函，內容有 關（其中包括）2025金融服務框架協議。 於本公告日期，中船為本公司的間接控股股東，而中船財務為中船集團的全資子公 司，故中船財務為本公司的關連人士。因此，2026金融服務框架協議項下擬進行的交 易構 ...

Core Viewpoint - China Shipbuilding Defense reported a revenue of 4.142 billion yuan for Q3 2025, marking a year-on-year increase of 4.65% and a net profit attributable to shareholders of 129 million yuan, which represents a significant year-on-year growth of 218.53% [1] Financial Performance - For the first three quarters, the company achieved a total revenue of 14.315 billion yuan, reflecting a year-on-year growth of 12.83% [1] - The net profit attributable to shareholders for the first three quarters reached 655 million yuan, showing a remarkable year-on-year increase of 249.84% [1] - Basic earnings per share for Q3 were 0.0911 yuan, while for the first three quarters, it was 0.4635 yuan [1]

Financial Performance - The company's operating revenue for the third quarter of 2025 was RMB 4,142,484,558.85, representing a year-on-year increase of 4.65%[6] - The total profit for the quarter reached RMB 167,552,615.35, a significant increase of 229.66% compared to the same period last year[6] - Net profit attributable to shareholders of the listed company was RMB 128,736,226.65, up 218.53% year-on-year[6] - The net profit after deducting non-recurring gains and losses was RMB 114,111,885.28, reflecting a substantial increase of 297.57%[6] - Basic earnings per share for the quarter were RMB 0.0911, an increase of 218.53% compared to the previous year[6] - The total profit for the year-to-date period reached RMB 823,665,847.06, a remarkable increase of 308.67%[6] - The net profit attributable to shareholders for the year-to-date period was RMB 655,122,582.54, up 249.84% compared to the same period last year[6] - Total operating revenue for the first three quarters of 2025 reached ¥14.32 billion, a 12.83% increase from ¥12.69 billion in the same period of 2024[35] - Operating profit for the first three quarters of 2025 was ¥821.66 million, compared to ¥200.73 million in 2024, reflecting a significant increase[36] - Net profit for the first three quarters of 2025 was ¥732.23 million, up from ¥250.23 million in 2024, marking a growth of 192.56%[36] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.4635, compared to ¥0.1325 in 2024, indicating a substantial increase[38] Assets and Liabilities - The company's total assets at the end of the reporting period were RMB 55,880,894,026.45, an increase of 4.26% from the end of the previous year[6] - The equity attributable to shareholders of the listed company was RMB 17,967,410,667.45, showing a slight increase of 0.80%[6] - The company's trading financial assets increased by 156.33% to ¥3,002,776.11 compared to the previous year[23] - Accounts receivable rose by 57.77% to ¥2,093,542,235.01, indicating an increase in outstanding payments[23] - Inventory increased by 36.80% to ¥8,078,962,068.16, reflecting a rise in products under construction[23] - The company reported a significant increase of 111.20% in current liabilities due within one year, totaling ¥3,290,656,423.02[24] - Total current assets reached ¥34,823,620,601.90, up from ¥32,140,949,910.03 year-over-year[30] - Total liabilities increased to ¥34,514,180,968.27 from ¥32,425,656,525.38, reflecting a rise in current liabilities[32] - Long-term investments rose to ¥5,885,862,267.52 from ¥5,403,984,842.40, indicating a strategic focus on long-term growth[31] - The company’s total assets increased to ¥55,880,894,026.45 from ¥53,596,113,615.25, indicating overall growth in the asset base[31] Shareholder Information - The largest shareholder, HKSCC NOMINEES LIMITED, holds 589,955,392 shares, representing 41.74% of total shares[15] - China Shipbuilding Industry Group Co., Ltd. is the second largest shareholder with 481,337,700 shares, accounting for 34.05%[15] Expenses and Income - Sales expenses rose by 91.99% to ¥76,284,580.15, primarily driven by increased insurance costs[25] - Investment income surged by 255.75% to ¥530,150,965.19, attributed to higher returns from joint ventures and stock dividends[25] - Other income increased by 49.21% to ¥116,654,021.95, mainly from government subsidies and VAT reductions in advanced manufacturing[25] - Research and development expenses for the first three quarters of 2025 were ¥766.06 million, up from ¥694.51 million in 2024, indicating a focus on innovation[36] - Other income increased to ¥116.65 million in 2025 from ¥78.18 million in 2024, reflecting improved financial performance[36] - The company reported a significant increase in investment income, reaching ¥530.15 million in 2025 compared to ¥149.03 million in 2024[36] Cash Flow - Operating cash flow net amount was -¥63,352,355.70, a significant improvement from -¥4,898,287,705.31 in the previous year[26] - Cash inflow from operating activities for the first three quarters of 2025 was approximately ¥16.24 billion, a significant increase from ¥11.65 billion in the same period of 2024, representing a growth of 39.5%[41] - The net cash flow from operating activities for the first three quarters of 2025 was -¥63.35 million, compared to -¥4.90 billion in 2024, indicating an improvement in operational cash flow[41] - Cash inflow from investment activities in the first three quarters of 2025 was approximately ¥3.91 billion, up from ¥1.57 billion in 2024, marking a growth of 148.5%[42] - The net cash flow from investment activities for the first three quarters of 2025 was ¥649.33 million, slightly down from ¥680.59 million in 2024[42] - Cash inflow from financing activities in the first three quarters of 2025 was ¥447.18 million, a decrease from ¥1.99 billion in 2024[42] - The net cash flow from financing activities for the first three quarters of 2025 was -¥1.27 billion, compared to a positive net flow of ¥482.30 million in 2024, indicating a decline in financing activities[42] - The total cash outflow from operating activities in the first three quarters of 2025 was approximately ¥16.31 billion, slightly lower than ¥16.55 billion in 2024[41] - The total cash outflow from investment activities in the first three quarters of 2025 was approximately ¥3.26 billion, compared to ¥891.65 million in 2024, indicating a significant increase in investment expenditures[42] Tax and Other Charges - Tax and additional fees increased by 116.02% to ¥45,083,207.14 due to higher land and property taxes and increased contract amounts leading to higher stamp duty and VAT[25] - The company reported a significant increase in credit impairment losses, amounting to -¥30,295,156.46, reflecting a more conservative approach to receivables[25] Market Conditions - Other comprehensive income after tax for the first three quarters of 2025 was -¥345.73 million, a decrease from ¥1.99 billion in 2024, indicating volatility in market conditions[37] - The impact of exchange rate changes on cash and cash equivalents was -¥27.47 million in 2025, compared to -¥8.95 million in 2024[43] - The ending balance of cash and cash equivalents as of the end of September 2025 was approximately ¥7.21 billion, down from ¥5.96 billion at the end of September 2024[43]