Core Insights - Traditional manufacturing leaders are leveraging technology and strategic transformation to navigate intense market competition [1] Financial Performance - In the first three quarters of 2025, the company achieved operating revenue of 20.209 billion yuan, a year-on-year increase of 10.91%, and a net profit attributable to shareholders of 168 million yuan, up 268.86% [1] - The operating cash flow net amount reached 4.92 billion yuan, reflecting a year-on-year growth of 330.80%, with an expense ratio of 8.66%, down 1.48 percentage points [1] - Revenue per capita increased by 17.72% to 2.5797 million yuan [1] Main Business Segments - The three main business segments—intelligent cable networks, intelligent batteries, and smart airports—showed steady growth, forming the company's performance foundation [2] - Intelligent cable network revenue was 17.826 billion yuan, up 9.59%, with a net profit of 315 million yuan, a growth of 8.69% [2] - Intelligent battery revenue reached 1.039 billion yuan, a year-on-year increase of 30.92%, while net losses narrowed to 256 million yuan [2] - Smart airport revenue was 1.267 billion yuan, growing 15.75%, with a net profit of 111 million yuan, up 47.88% [3] Emerging Business Growth - The company made significant progress in emerging business areas, achieving revenue of 713 million yuan in AI, computing power, and robotics, a year-on-year increase of 139.52% [4] - The company has participated in over 40 computing center projects, collaborating with leading firms in AI chip technology [4] - In the robotics sector, partnerships with companies like UBTECH and Zhiyuan are advancing the industrialization of humanoid robots [5] Strategic Initiatives - The company is actively involved in projects related to controlled nuclear fusion and has collaborated with top research institutions to advance superconducting materials and cables [5] - The demand for high-performance cables in AI data centers and robotics is expected to drive market growth, with a focus on specialized cables that meet specific technical requirements [6]

Market Performance - As of October 30, the PET copper foil sector declined by 2.41%, ranking among the top losers in the market. Notable declines included Hangdian Co., Ltd. which hit the daily limit down, and other companies like Longyang Electronics and Huicheng Vacuum also saw significant drops [1][2] - Among the stocks in the PET copper foil sector, 8 stocks experienced price increases, with Hongtian Co., Ltd. leading with a rise of 4.30%, followed by Oke Technology at 4.21% and Jingwei Huikai at 1.31% [1][2] Capital Flow - The PET copper foil sector saw a net outflow of 3.065 billion yuan in capital today, with 34 stocks experiencing net outflows. Six stocks had outflows exceeding 100 million yuan, with Xian Dao Intelligent leading at 1.455 billion yuan [1][2] - Other companies with significant net outflows included Tongguan Copper Foil at 266 million yuan, Jiejia Weichuang at 247 million yuan, and Defu Technology at 230 million yuan [1][2] Top Gainers and Losers - The top gainers in the PET copper foil sector included Jiemai Technology, Jiayuan Technology, and Jingwei Huikai, with net inflows of 33.05 million yuan, 27.88 million yuan, and 22.12 million yuan respectively [1][2] - Conversely, the top losers in terms of capital outflow included Xian Dao Intelligent, which saw a decline of 5.50%, and Longyang Electronics with a drop of 9.58% [1][2]

Group 1 - Far East Holdings (600869.SH) reported its Q3 2025 results, with 14 institutional investors holding a total of 1.331 billion shares, representing 59.96% of the total share capital [1] - The top ten institutional investors collectively hold 59.91% of the shares, with a slight decrease of 0.32 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, only one fund, Morgan Emerging Power Mixed A, increased its holdings by 0.74% compared to the previous period [2] - Eight new public funds disclosed their holdings this quarter, including several funds from Huashang and China Agricultural Bank [2] - One social security fund, Huaxia Fund Management Co., Ltd. - Social Security Fund 422 Portfolio, was not disclosed in this period compared to the previous quarter [2]

Core Insights - The nuclear power cable industry is crucial for the safe and stable operation of nuclear power plants, designed to meet extreme performance requirements such as high temperature resistance, radiation resistance, and low smoke halogen-free flame retardancy [1][6][3] - China's nuclear power sector is a key support for energy structure transformation and achieving carbon neutrality goals, with a national strategy focused on the "active, safe, and orderly development of nuclear power" [1][6] - The industry is entering a high prosperity cycle driven by policies, market demand, and technological advancements, with a significant market expansion expected [1][9] Industry Overview - Nuclear power cables are specifically designed for the unique environments of nuclear power plants, requiring high insulation, temperature, radiation, and corrosion resistance [2][3] - The cables play a core role in power transmission, signal control, and system safety, making them essential components for stable power system operation [2][6] Policy Environment - The Chinese government has set ambitious targets for nuclear power capacity, aiming for 70 million kilowatts by 2025 and 131 million kilowatts by 2030, with ongoing approvals for advanced reactor projects [6][9] - Recent policies have been introduced to support the nuclear industry across various dimensions, including development planning, safety assurance, and market access [6][9] Industry Chain - The upstream of the nuclear power cable industry includes suppliers of metals and insulation materials, with domestic companies like Jiangxi Copper and China Aluminum being significant players [7] - The midstream consists of cable manufacturing, dominated by companies such as Jiangsu Shangshang Cable and Far East Group, indicating a high market concentration [7] - The downstream includes nuclear power plant construction units and equipment manufacturers, driving continuous demand for cable products [7] Current Development Status - China's nuclear power sector has seen rapid growth, with 58 operational nuclear reactors and a total installed capacity of 60.88 million kilowatts as of 2024, ranking third globally [8][9] - The industry is expected to see a market scale exceeding 3 billion yuan in 2024, with projections of reaching 3.44 billion yuan by 2025, reflecting a robust annual growth rate of approximately 12% [9][10] Competitive Landscape - The industry is characterized by a few leading domestic companies that dominate the market, such as Anhui Cable and Jiangsu Shangshang Cable, which have achieved breakthroughs in high-end product localization [10] - Other notable companies include Baosheng Co., Shangwei Co., and Hualing Cable, which contribute to the competitive landscape with their specialized cable products [10] Future Development Trends - The industry is expected to evolve through technological innovation, market expansion, and global positioning, focusing on high-end materials and smart monitoring technologies [11][12] - New application scenarios are emerging, including small modular reactors and nuclear hydrogen production, which will drive demand for specialized cables [12] - Chinese companies are anticipated to accelerate their global presence, leveraging the Belt and Road Initiative to enhance their international competitiveness [13]

Company Performance - Far East Holdings reported a revenue of approximately 20.209 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 10.91% [1] - The net profit attributable to shareholders of the listed company was approximately 168 million yuan, showing a significant year-on-year increase of 268.86% [1] - Basic earnings per share reached 0.0758 yuan, which is an increase of 269.57% compared to the previous year [1] Market Valuation - As of the report date, the market capitalization of Far East Holdings is 18.4 billion yuan [2]

Core Insights - The company reported a significant increase in net profit by 268.86% year-on-year, reaching 168 million yuan in the first three quarters of 2025, alongside a revenue growth of 10.91% to 20.209 billion yuan, marking a historical high for the period [1] - The company is committed to its "ALL IN AI" strategy, achieving a revenue of 713 million yuan in emerging markets such as computing power AI and robotics, which represents a year-on-year growth of 139.52% [1] Business Segment Performance - The intelligent cable network business generated a revenue of 17.826 billion yuan, up 9.59% year-on-year, with a net profit of 315 million yuan, reflecting an 8.69% increase. The company secured contracts exceeding 1 million yuan totaling 17.764 billion yuan, a growth of 13.95% [2] - The intelligent battery business reported a revenue of 1.039 billion yuan, a year-on-year increase of 30.92%, while net profit was a loss of 256 million yuan, reducing losses by 2.45 million yuan. Contract signings reached 2.259 billion yuan, up 22.97% [2] - The smart airport business achieved a revenue of 1.267 billion yuan, growing 15.75% year-on-year, with a net profit of 111 million yuan, an increase of 47.88%. The company secured contracts exceeding 10 million yuan totaling 1.988 billion yuan [3]

Core Insights - The company reported a significant increase in revenue and net profit for the first three quarters of 2025, with total revenue reaching 20.209 billion yuan, a year-on-year growth of 10.91%, and a net profit of 1.68 billion yuan, up 268.86% [1] - The company is advancing its "ALL IN AI" strategy, achieving notable revenue growth in emerging markets such as AI computing and robotics, with revenue from these sectors reaching 713 million yuan, a year-on-year increase of 139.52% [1] - The company has established strong partnerships with leading AI chip companies and is making progress in innovative cooling technologies for next-generation chips, which supports infrastructure development in AI computing [1] Business Performance - The smart cable network business generated revenue of 17.826 billion yuan, a year-on-year increase of 9.59%, with a net profit of 315 million yuan, up 8.69% [2] - The smart battery business reported revenue of 1.039 billion yuan, a year-on-year growth of 30.92%, while reducing net losses to 256 million yuan [2] - The smart airport business achieved revenue of 1.267 billion yuan, a year-on-year increase of 15.75%, with net profit rising by 47.88% to 111 million yuan [3] Project Involvement - The company is involved in significant projects such as the S1500 floating wind power system and the BEST compact fusion energy experimental device, with ongoing contract signings and deliveries [2] - In the low-altitude economy sector, the company is collaborating on general airport projects and providing comprehensive solutions for low-altitude planning and air traffic management [3]

重要内容提示： 会议召开时间：2025 年 11 月 7 日（星期五）15:00-17:00 远东智慧能源股份有限公司 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。 投资者可于 2025 年 10 月 30 日（星期四）至 11 月 6 日（星期四）16:00 前 登 录 上 证 路 演 中 心 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 87249788@600869.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 行回答。 证券代码：600869 股票简称：远东股份 编号：临 2025-087 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频直播和网络互动 远东智慧能源股份有限公司（以下简称"公司"）于 2025 年 10 月 30 日披 露 2025 年第三季度报告，为便于广大投资者更全面 ...

证券代码：600869 证券简称：远东股份 公告编号：2025-088 远东智慧能源股份有限公司 2025年第三次临时股东会决议公告 本次会议是否有否决议案：无 一、 会议召开和出席情况 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 1,065 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,103,965,683 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 50.5594 | | 份总数的比例（%） | | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由董事长蒋锡培先生主持，表决方式符合《公司法》、《公司章程》 的规定。 二、 议案审议情况 审议结果：通过 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： | 议案 | 议案名称 | 同意 | | 反对 | | 弃权 | | | --- | --- | --- | --- | --- | --- ...

国浩律师(上海)事务所 关于 远东智慧能源股份有限公司 2025 年第三次临时股东会 之 法律意见书 國浩律師(上海)事務所 GRANDALL LAW FIRM(SHANGHAI) 上海市静安区山西北路 99 号苏河湾中心 25-28 楼 邮编: 200085 25-28/F, Suhe Centre, 99 North Shanxi Road, Jing'an District, Shanghai, China 电话/Tel: (+86)(21) 5234 1668 传真/Fax: (+86)(21) 5234 1670 网址/Website: http://www.grandall.com.cn 2025 年 10 月 国浩律师(上海)事务所 法律意见书 国浩律师(上海) 事务所 关于远东智慧能源股份有限公司 2025 年第三次临时股东会 之法律意见书 致: 远东智慧能源股份有限公司 国浩律师(上海)事务所(下称"本所")接受远东智慧能源股份有限公司 (以下简称"公司") 的委托,指派本所律师出席公司 2025 年第三次临时股东 会(以下简称"本次股东会")，并根据《中华人民共和国公司法》《中华人民 共和 ...