Core Insights - *ST Huawang reported significant growth in Q3 2025, with operating revenue reaching 168 million yuan, a year-on-year increase of 440.34% [1] - The company achieved a total profit of 259,600 yuan, up 101.05% year-on-year, while the net profit attributable to shareholders was -2.7364 million yuan, reflecting a narrowing of losses by 89.2% [1] - The company's operational performance improvement indicates the gradual effectiveness of its transformation and development strategy [1] Business Developments - The company has actively entered the semiconductor sector through the establishment of joint ventures and asset acquisitions, aiming to integrate green technology with advanced electronic technologies [2] - On August 8 and 11, 2025, the company established two joint ventures, Huangshan Shunjing Technology Co., Ltd. and Jinhua Shunjing Sensor Technology Co., Ltd., focusing on the production and sales of automotive pressure sensor modules and inertial measurement units [2] - On August 21, 2025, the company's wholly-owned subsidiary, Suzhou Shunjing Integrated Circuit Co., Ltd., acquired existing mature research and production equipment related to inertial sensor modules, reducing costs and time for new product launches [2] - *ST Huawang has built a core business structure around high-pressure fuel tanks, sensors, and energy storage systems, transitioning towards intelligent technology [2]

一、标的资产损益归属期间 根据公司与协议转让方签署的《关于安徽尼威汽车动力系统有限公司之股权 转让协议》《关于安徽尼威汽车动力系统有限公司之股权转让协议之补充协议》 《关于安徽尼威汽车动力系统有限公司<股权转让协议>及<业绩承诺及补偿协 议>之补充协议》（以下合称"《股权转让协议》"）相关约定，本次交易损益 归属期间为自评估基准日（不包括评估基准日当日）起至期间损益审计基准日（包 括当日）止的期间。其中，若资产交割日为当月15日（含15日）之前，则期间损 益审计基准日为资产交割日所在月的上月月末；若资产交割日为当月15日之后， 则期间损益审计基准日为资产交割日所在当月月末。本次交易的评估基准日为 2025年2月28日，同时结合企业会计实务操作，本次交易的损益归属期间为2025 年3月1日起至2025年8月31日止。 二、标的资产过渡期损益权属安排 证券代码：603007 证券简称：*ST 花王 公告编号：2025-141 丹阳顺景智能科技股份有限公司关于 重大资产购买之标的资产过渡期损益情况的公告 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 ...

2025年第三季度，公司及控股子公司新签业务合同共27项，合计金额 10,376.82万元。 | 项目类型 | 合同数量（项） | 合同金额（万元） | | --- | --- | --- | | 施工合同 | 11 | 9,942.53 | | 咨询合同 | 8 | 23.43 | | 设计合同 | 7 | 399.56 | | 勘察合同 | 1 | 11.30 | | 合计 | 27 | 10,376.82 | 证券代码：603007 证券简称：*ST 花王 公告编号：2025-139 丹阳顺景智能科技股份有限公司 关于 2025 年第三季度主要经营数据的公告 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。 丹阳顺景智能科技股份有限公司（以下简称"公司"）根据《上海证券交易 所上市公司自律监管指引第3号—行业信息披露》之《第八号—建筑》的相关规 定，现将2025年第三季度主要经营数据（未经审计）公告如下： 一、新签项目合同数量及金额 注：以上经营数据包含中维国际工程设计有限公司（以下简称"中维国际"）数据，公 司于2025 ...

丹阳顺景智能科技股份有限公司关于召开 2025 年半年度暨第三季度业绩说明会的公告 证券代码：603007 证券简称：*ST 花王 公告编号：2025-140 丹阳顺景智能科技股份有限公司（以下简称"公司"）已分别于 2025 年 8 月 30 日、2025 年 10 月 31 日发布公司 2025 年半年度报告、2025 年第三季度报 告，为便于广大投资者更全面深入地了解公司 2025 年半年度和第三季度的经营 成果、财务状况，公司计划于 2025 年 11 月 10 日（星期一）16:00-17:00 举行 2025 年半年度暨第三季度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年半年度和第三 季度的经营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披 露允许的范围内就投资者普遍关注的问题进行回答。 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： 会议召开时间：2025 年 11 月 10 日（星期一）16:00-17:00 ...

安徽尼威汽车动力系统有限公司 审计报告 立信中联会计师事务所(特殊普通合伙) LixinZhonglian CPAs (SPECIAL GENERAL PARTNERSHIP) 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（hmt://acc.mof.com.cn/ 安徽尼威汽车动力系统有限公司 审计报告、财务报表 (2025年3-8月) 目 页 次 一、审计报告 1-4 二、已审财务报表 1、过渡期合并利润表 1 # 2、财务报表附注 1-45 立信中联会计师事务所(特殊普通合伙) xinZhonglian CPAs (SPECIAL GENERAL PARTNERSHIP) 资产重组过渡期损益情况 专项审计报告 立信中联专审字[2025]D-0517 号 丹阳顺景智能科技股份有限公司: 一、审计意见 我们审计了安徽尼威汽车动力系统有限公司(以下简称尼威动力公司)编制的 2025年 3 月 1 日至 2025 年 8 月 31 日过渡期合并利润表及其附注(以下简称过渡期 合并利润表)。 我们认为,后附的过渡期合并利润表在所有重大方面按照附注二所述编制基础 的规定编制,公允反映了尼威动力公司 20 ...

Financial Performance - The company's operating revenue for Q3 2025 reached ¥167,844,331.71, representing a significant increase of 440.34% compared to the same period last year[3] - The total profit for the quarter was ¥259,615.29, up 101.05% year-on-year, while the net profit attributable to shareholders was a loss of ¥2,736,368.18, an improvement of 89.20% compared to the previous year[3] - The basic and diluted earnings per share for the quarter were both -¥0.00, showing an increase of 94.02% compared to the same period last year[3] - The net loss for the first three quarters of 2025 was ¥36,280,775.68, an improvement from a net loss of ¥91,500,797.96 in the same period of 2024[21] - The company's operating profit for the first three quarters of 2025 was reported at -¥39,235,113.58, compared to -¥75,408,561.05 in 2024, showing a reduction in losses[21] - The basic earnings per share for the first three quarters of 2025 was reported at -¥0.04, an improvement from -¥0.22 in the same period of 2024[22] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥1,910,785,645.56, reflecting a growth of 62.95% from the end of the previous year[4] - The total assets of the company amounted to ¥1,910,785,645.56, while total liabilities were ¥1,315,418,368.71, resulting in total equity of ¥595,367,276.84[18] - As of September 30, 2025, the company's total current assets amounted to RMB 1,038,146,236.90, an increase from RMB 970,516,783.37 at the end of 2024[16] - The company’s fixed assets increased to ¥114,798,359.64, up from ¥57,406,904.38, reflecting a growth of approximately 100%[18] - The company’s goodwill stood at ¥481,328,928.40, indicating a substantial investment in intangible assets[18] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥63,458,559.53, indicating a decline of 1,395.07% compared to the previous year[3] - The company reported a significant increase in cash flow from operating activities, with a net cash inflow of ¥2,843,362.46 for the first three quarters of 2025[21] - Cash inflow from operating activities for the first three quarters of 2025 reached ¥193,354,629.68, a significant increase from ¥121,570,601.32 in the same period of 2024, representing a growth of approximately 59%[25] - The net cash flow from operating activities for the first three quarters of 2025 was -¥63,458,559.53, compared to -¥4,244,528.87 in the first three quarters of 2024, indicating a decline in operational cash generation[26] - Total cash outflow from operating activities increased to ¥256,813,189.21 in 2025 from ¥125,815,130.19 in 2024, reflecting a rise of about 104%[26] - The ending cash and cash equivalents balance for the first three quarters of 2025 was ¥188,641,130.63, down from ¥7,128,824.88 in 2024[27] Investments and Acquisitions - The company completed the acquisition of 50.11% equity in Anhui Niwei Automotive Power System Co., Ltd., which contributed to the significant increase in revenue and total assets[7] - The company completed the acquisition of 50.11% equity in Niwei Power, officially entering the new energy hybrid vehicle metal high-pressure fuel tank business[12] - The company signed a share transfer agreement for 100% equity of its wholly-owned subsidiary, Zhongwei International Engineering Design Co., Ltd., for a transaction price of RMB 360,000[15] - Cash inflow from investment activities in the first three quarters of 2025 was ¥159,641,763.08, a substantial increase from ¥2,923,977.75 in 2024[26] - The net cash flow from investment activities for the first three quarters of 2025 was -¥38,413,874.90, compared to -¥4,555,788.78 in 2024, indicating a worsening investment cash position[26] - The total cash outflow for investment activities surged to ¥198,055,637.98 in 2025 from ¥7,479,766.53 in 2024, indicating a dramatic increase in investment expenditures[26] Business Strategy and Development - The company plans to continue expanding its construction business and focus on integrating the newly acquired subsidiary into its operations[8] - The company has transformed its business structure from construction to industrial manufacturing, focusing on core components for new energy vehicles, enhancing competitiveness and achieving high-quality development[13] - The company established joint ventures for automotive pressure sensor modules and inertial measurement units, promoting integration of green technology and advanced electronics[14] - The company aims to leverage synergies between Niwei Power and its subsidiaries to accelerate development in the semiconductor sector[14] - The company has rebranded itself as Danyang Shunjing Intelligent Technology Co., Ltd. to enhance brand recognition and market influence[13] Financial Adjustments - Non-recurring gains and losses for the quarter included ¥1,127,096.65 from debt restructuring, contributing to the overall financial performance[6] - The company reported a weighted average return on equity of -0.32%, an increase of 6.55 percentage points compared to the previous year[3] - The company’s financial expenses decreased to ¥10,574,046.79 in 2025 from ¥23,608,190.00 in 2024, representing a reduction of about 55%[21] - The company has adopted new accounting standards starting in 2025, which may impact the financial reporting and analysis moving forward[28]

Core Viewpoint - *ST Huawang (603007) is selling its wholly-owned subsidiary, Zhongwei International Engineering Design Co., Ltd., for 360,000 yuan, despite having invested 182 million yuan in its acquisition, highlighting the challenges and high premiums associated with past mergers and acquisitions [1][2][3]. Group 1: Acquisition and Financial Performance - The acquisition of Zhongwei International was initially valued at 1.82 billion yuan, with a high premium based on optimistic performance projections, including a commitment for net profits of at least 15 million yuan in 2017 [3][4]. - Following the acquisition, Zhongwei International's performance deteriorated significantly, reporting losses of 280,390 yuan in 2020 and 1.25 million yuan in 2021, with projected losses of 2.78 million yuan for 2024 [4][11]. - As of August 2023, Zhongwei International's net assets were only 27,600 yuan, and it owed 367,800 yuan to *ST Huawang, which it could not repay [4][11]. Group 2: Corporate Restructuring and New Investments - After a series of financial difficulties, *ST Huawang underwent bankruptcy restructuring, with new major shareholders injecting 507.7 million yuan into the company [12][14]. - The new management has committed to achieving significant revenue targets, including 400 million yuan in 2025 and annual revenues of 500 million yuan from 2026 to 2028 [12][13]. - The company is also pursuing new investments, including a controversial acquisition of a 55.5% stake in Niwei Power, valued at 666 million yuan, which could lead to substantial goodwill on the balance sheet [14][15]. Group 3: Market Reactions and Future Outlook - The high premium paid for the Niwei Power acquisition has raised concerns about potential goodwill impairment, as the projected profits may not materialize [15][16]. - The restructuring and new acquisitions have sparked debate among stakeholders regarding the future viability and profitability of *ST Huawang, with mixed expectations about the outcomes of these strategic moves [16].

*ST花王（603007）（603007）近日宣布，公司拟将全资子公司中维国际工程设计有限公司（下称"中 维国际"）100%股权对外转让，交易对价为36万元。 证券时报·e公司记者注意到，中维国际系*ST花王当初累计耗资1.82亿元并购的企业。在业绩承诺期过 后，中维国际的经营情况便直线下滑，沦为上市公司的业绩包袱。 *ST花王上市后，在资产并购上屡陷泥潭，其间因"并购后遗症"等问题步入破产重整，苏州辰顺浩景企 业管理合伙企业（下称"苏州辰顺"）成为新大股东。 中维国际成立于2007年，注册资本1100万元，主要从事建筑装饰业务。对于出售该公司，*ST花王称是 为了优化资产和业务结构。 2017年9月，*ST花王宣布以现金1.44亿元收购谢绍宁、荣艳、王伟等股东持有的中维国际80%股权。截 至2017年6月末，公司资产净额为2441.32万元。经收益法评估，其股东权益价值达1.81亿元，增值率为 640.64%。2016年，中维国际营收为3745.97万元，净利润为613.98万元。 对于并购中维国际，上市公司称是为了加速完成西南地区的业务布局，扩大业务规模。对于中维国际高 溢价估值的原因，上市公司称，中维国 ...

Core Viewpoint - *ST Huawang plans to sell its wholly-owned subsidiary, Zhongwei International Engineering Design Co., Ltd., for 360,000 yuan, despite having invested 182 million yuan in its acquisition, highlighting the company's ongoing struggles with asset management and performance issues [2][3]. Group 1: Acquisition and Financial Performance - In September 2017, *ST Huawang acquired 80% of Zhongwei International for 144 million yuan, with a valuation increase of 640.64% based on shareholder equity [3]. - Zhongwei International's revenue was 37.46 million yuan and net profit was 6.14 million yuan in 2016, with performance commitments made for 2017-2019 [3]. - However, from 2020 onwards, Zhongwei International's performance declined significantly, reporting losses of 2.8 million yuan in 2020 and 12.5 million yuan in 2021 [4][11]. Group 2: Current Financial Status - As of August 2023, Zhongwei International's net assets were only 276,000 yuan, and it owed *ST Huawang 3.68 million yuan, which it could not repay [5]. - The planned sale of Zhongwei International is part of *ST Huawang's strategy to optimize its asset and business structure [2]. Group 3: Corporate Restructuring and Future Plans - Following a bankruptcy restructuring initiated in 2022, *ST Huawang introduced new investors and committed to achieving significant revenue targets by 2025 [11]. - The company is also pursuing a high-premium acquisition of Niwei Power, with a valuation of 1.207 billion yuan, which could lead to substantial goodwill on its balance sheet [12][13].

Core Viewpoint - The company, Danyang Shunjing Intelligent Technology Co., Ltd., is currently involved in multiple legal disputes, with a significant case pending in court where it is the defendant, facing a claim of approximately 62.99 million yuan [2][4]. Group 1: Legal Proceedings - The company is involved in a major lawsuit with China Municipal Engineering Central Design Institute Co., Ltd., concerning a construction contract for a PPP project, with the case currently awaiting trial [2][3]. - The total amount involved in the ongoing litigation is 62.99 million yuan, with additional undisclosed litigation and arbitration cases amounting to 32.34 million yuan over the past twelve months [2][7]. - The company has previously won a judgment for 75.91 million yuan in a related case, but the current lawsuit addresses claims for additional payments and costs [3][6]. Group 2: Financial Impact - The outcome of the ongoing legal disputes remains uncertain, and the financial impact will depend on the final court rulings and execution of judgments [2][7]. - The company has reported that the recent freezing of bank accounts, totaling 8.40 million yuan, has been partially resolved, with 8.04 million yuan released, leaving 0.36 million yuan still frozen [10][11]. - The frozen funds represent a minimal percentage of the company's audited cash balance and net assets, indicating limited immediate impact on operations [10][11].