Core Viewpoint - The company primarily sells aluminum alloy ingots and ferrous and non-ferrous metals, with a significant portion of its revenue derived from these products [2] Sales Revenue Breakdown - As of the end of September, sales revenue from aluminum alloy ingots accounted for approximately 61% of total sales [2] - Sales revenue from ferrous and non-ferrous metals made up about 39% of total sales [2]

Core Insights - The company has a total production capacity of 21.88 million tons at its old plant, which is currently operating at full capacity [1] - The new capacity of 650,000 tons is being gradually released based on market demand [1] - The Taicang plant remains idle due to a tight supply of scrap aluminum and the issue of scrap prices being lower than finished product prices [1] - The main products sold by the company are aluminum alloy ingots and black and non-ferrous metals, with aluminum alloy ingots accounting for approximately 61% of sales revenue and black and non-ferrous metals accounting for about 39% as of the end of September [1]

Core Viewpoint - Yiqiu Resources is a leading global producer of aluminum alloy ingots (recycled aluminum) with a complete recycling aluminum industry chain, established in 2001 and listed in 2012 [1] Group 1: Business Performance - In Q3 2025, Yiqiu Resources reported revenue of 5.595 billion, ranking 17th among 31 companies in the industry, while the top company, China Aluminum, achieved revenue of 176.516 billion [2] - The net profit for the same period was 97.5154 million, placing the company 19th in the industry, with the leading company, China Aluminum, reporting a net profit of 17.296 billion [2] Group 2: Financial Ratios - As of Q3 2025, Yiqiu Resources had a debt-to-asset ratio of 27.11%, down from 29.76% year-on-year and below the industry average of 46.20%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 6.26%, an increase from 5.83% year-on-year but still below the industry average of 10.69%, suggesting room for improvement in profitability [3] Group 3: Executive Compensation - Chairman Huang Chongsheng's compensation for 2024 was 1.3999 million, a decrease of 110,200 from 2023, while General Manager Liu Kaimin's compensation increased to 842,500, up by 56,000 from the previous year [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 12.27% to 80,100, while the average number of circulating A-shares held per shareholder decreased by 10.93% to 27,500 [5]

Core Viewpoint - The company, Yiqiu Resources, has released its third-quarter report for 2025, ensuring the accuracy and completeness of the financial information presented [2][7]. Financial Data - The financial statements for the third quarter of 2025 have not been audited [3]. - The report includes major accounting data and financial indicators, although specific figures are not detailed in the provided text [3][4]. Corporate Governance - The board of directors and senior management have confirmed the authenticity and completeness of the quarterly report, taking legal responsibility for any inaccuracies [2][7]. - The board meeting held on October 27, 2025, approved the third-quarter report with unanimous support from all attending directors [7][11]. Management System Updates - The company has revised several internal management systems to align with new legal and regulatory requirements, including the Information Disclosure Management System and Insider Information Management System [10].

Core Insights - The company reported a revenue of 2,013,872,398.17 yuan for the third quarter of 2025, representing a year-on-year growth of 11.96% [1] - The net profit attributable to shareholders of the listed company was 68,117,646.17 yuan, showing a significant year-on-year increase of 679.57% [1]

Core Viewpoint - Yiqiu Resources (601388.SH) reported a significant increase in both revenue and net profit for the third quarter of 2025, indicating strong financial performance and growth potential [1] Financial Performance - The company's operating revenue reached 2.014 billion yuan, representing a year-on-year increase of 11.96% [1] - The net profit attributable to shareholders was 68.1176 million yuan, showing a remarkable year-on-year increase of 679.57% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 43.7001 million yuan, reflecting a year-on-year increase of 328.51% [1]

怡球金属资源再生（中国）股份有限公司 第六届董事会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个别及连带责任。 怡球金属资源再生（中国）股份有限公司（以下简称"公司"）第六届董事会 第四次会议于 2025 年 10 月 27 日以现场和通讯相结合的会议方式召开并进行表 决。会议通知已于 2025 年 10 月 16 日通过通讯的方式送达全体董事。本次董事 会会议应出席董事9人,实际出席董事9人。 公司高管人员列席本次会议,会议的召开符合《中华人民共和国公司法》和《公 司章程》的规定。本次会议由董事长黄崇胜先生主持，经与会董事认真审议通过了 如下决议： 股票代码：601388 股票简称：怡球资源 编号：2025-032 号 一、审议通过《关于公司 2025 年第三季度报告全文的议案》 审议结果：表决票9票，赞成票9票，反对票0票，弃权票0票。 该议案已经公司董事会审计委员会审议通过。 公告全文详见上海证券交易所网站（www.sse.com.cn）。 二、审议通过《关于修订公司部分管理制度的议案》 为进一步促进公司规范 ...

Financial Performance - The company's operating revenue for the third quarter reached CNY 2,013,872,398.17, an increase of 11.96% compared to the same period last year[3] - Total profit for the quarter was CNY 81,475,354.77, reflecting a significant increase of 918.86% year-on-year[3] - Net profit attributable to shareholders was CNY 68,117,646.17, up 679.57% compared to the previous year[3] - The basic earnings per share for the quarter was CNY 0.03, an increase of 757.50% compared to the same period last year[3] - Total operating revenue for the first three quarters of 2025 reached ¥5,594,783,397.62, an increase of 10.97% compared to ¥5,040,495,649.71 in the same period of 2024[16] - Operating profit for the first three quarters of 2025 was ¥126,623,656.79, compared to ¥98,106,393.88 in 2024, indicating a growth of 29.05%[16] - The net profit for the first three quarters of 2025 reached ¥97,515,400.08, an increase from ¥77,281,110.44 in the same period of 2024, representing a growth of approximately 26.2%[17] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.04, compared to ¥0.0351 in the same period of 2024, marking an increase of approximately 13.8%[17] Assets and Liabilities - The total assets at the end of the reporting period were CNY 6,281,990,047.26, a 2.62% increase from the end of the previous year[4] - Current assets totaled ¥3,640,390,365.97 as of September 30, 2025, compared to ¥3,496,406,056.41 at the end of 2024, representing an increase of 4.12%[12] - Total assets amounted to ¥6,281,990,047.26 as of September 30, 2025, compared to ¥6,121,702,062.43 at the end of 2024, reflecting an increase of 2.62%[13] - Total liabilities decreased slightly to ¥1,703,151,133.18 as of September 30, 2025, from ¥1,739,532,542.53 at the end of 2024, a decline of 2.09%[13] - Shareholders' equity increased to ¥4,578,838,914.08 as of September 30, 2025, compared to ¥4,382,169,519.90 at the end of 2024, representing a growth of 4.48%[13] Cash Flow - The company reported a net cash flow from operating activities of CNY -985,999.37 year-to-date[3] - The net cash flow from operating activities for the first three quarters of 2025 was -¥985,999.37, a significant improvement from -¥495,963,611.06 in the same period of 2024[20] - The cash and cash equivalents at the end of the third quarter of 2025 stood at ¥630,931,494.26, compared to ¥590,986,261.39 at the end of the same period in 2024, reflecting an increase of approximately 6.8%[21] - The net cash flow from investing activities for the first three quarters of 2025 was ¥63,917,635.45, a recovery from -¥31,225,393.47 in 2024[21] - The company incurred a net cash outflow from financing activities of -¥107,273,530.97 in the first three quarters of 2025, contrasting with a net inflow of ¥422,251,301.87 in the same period of 2024[21] Expenses - The net profit after deducting non-recurring gains and losses was CNY 43,700,107.33, which represents a decrease of 6.53% year-on-year[3] - Total operating costs for the first three quarters of 2025 were ¥5,490,427,593.50, up from ¥4,944,093,966.82 in 2024, reflecting a year-over-year increase of 11.06%[16] - The total operating expenses for the first three quarters of 2025 were ¥5,571,269,866.54, slightly lower than ¥5,648,553,503.89 in 2024, indicating a decrease of about 1.4%[20] - Financial expenses for the first three quarters of 2025 were ¥39,201,034.16, a substantial increase from ¥1,739,282.56 in 2024, primarily due to higher interest expenses[16] Comprehensive Income - The company reported a total comprehensive income of ¥196,669,394.14 for the first three quarters of 2025, down from ¥242,383,268.53 in 2024, showing a decrease of about 18.9%[17] - The company reported other comprehensive income after tax of ¥99,153,994.06 for the first three quarters of 2025, down from ¥165,102,158.09 in 2024, reflecting a decrease of approximately 40%[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 80,084[9] - Non-recurring gains and losses for the quarter totaled CNY 24,417,538.84, up from CNY 21,018,079.29 year-to-date[5] - Research and development expenses for the first three quarters of 2025 were significantly lower at ¥0 compared to ¥493,681.36 in the same period of 2024[16] - Inventory as of September 30, 2025, was ¥1,844,376,568.38, up from ¥1,633,087,734.15 at the end of 2024, marking a growth of 12.91%[12]

Core Insights - The company reported a third-quarter revenue of 2.014 billion, representing a year-on-year increase of 11.96% [1] - The net profit for the third quarter was 68.1176 million, showing a significant year-on-year growth of 679.57% [1] - For the first three quarters, the company achieved a revenue of 5.595 billion, which is an 11.00% increase compared to the same period last year [1] - The net profit for the first three quarters reached 97.5074 million, reflecting a year-on-year growth of 26.19% [1]

Core Insights - On October 22, Yiqiu Resources experienced a decline of 0.68% with a transaction volume of 111 million yuan [1] - The company reported a financing buy-in amount of 10.47 million yuan and a net financing buy of 1.33 million yuan on the same day [1] - As of October 22, the total margin balance for Yiqiu Resources was 181 million yuan, which is 2.80% of its circulating market value, indicating a low financing balance compared to the past year [1] Financing and Margin Data - On October 22, Yiqiu Resources had a financing buy-in of 10.47 million yuan, with a current financing balance of 181 million yuan [1] - The financing balance is below the 40th percentile level of the past year, indicating a relatively low position [1] - In terms of securities lending, there were no shares sold or repaid on October 22, with a lending balance of 0.00 shares, which is above the 70th percentile level of the past year, indicating a high position [1] Company Performance - As of June 30, Yiqiu Resources had 71,300 shareholders, a decrease of 1.78% from the previous period, while the average circulating shares per person increased by 1.82% to 30,859 shares [2] - For the first half of 2025, Yiqiu Resources achieved an operating income of 3.581 billion yuan, a year-on-year increase of 10.46%, but the net profit attributable to shareholders decreased by 57.11% to 29.39 million yuan [2] - Since its A-share listing, Yiqiu Resources has distributed a total of 6.92 billion yuan in dividends, with 1.17 billion yuan distributed over the past three years [2] Shareholding Structure - As of June 30, 2025, Hong Kong Central Clearing Limited was the sixth largest circulating shareholder of Yiqiu Resources, holding 16.69 million shares, an increase of 3.39 million shares from the previous period [2]