Core Points - The stock price of Huali Co., Ltd. dropped by 2.08% on November 4, trading at 20.20 CNY per share with a total market capitalization of 5.427 billion CNY [1] - The company has seen a year-to-date stock price increase of 23.93%, with a recent decline of 3.67% over the last five trading days [1] Financial Performance - For the period from January to September 2025, Huali Co., Ltd. achieved a revenue of 978 million CNY, representing a year-on-year growth of 56.82% [2] - The net profit attributable to the parent company for the same period was 46.81 million CNY, reflecting a year-on-year increase of 34.15% [2] Business Overview - Huali Co., Ltd. was established on May 25, 1995, and went public on January 16, 2017, focusing on the research, design, production, and sales of decorative composite materials [2] - The main revenue sources for the company include edge strips (41.82%), surface panels (33.29%), water treatment equipment (20.11%), and other services [2] Shareholder Information - As of September 30, the number of shareholders for Huali Co., Ltd. was 32,700, a decrease of 12.12% from the previous period [2] - The average circulating shares per shareholder increased by 13.80% to 8,226 shares [2] Dividend Information - Huali Co., Ltd. has distributed a total of 175 million CNY in dividends since its A-share listing, with 30.79 million CNY distributed over the past three years [3]

Market Overview - The renovation and building materials sector increased by 0.96% compared to the previous trading day, with Youbang Ceiling leading the gains [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] Top Gainers in the Sector - Youbang Ceiling (002718) closed at 26.96, up 7.24% with a trading volume of 41,500 lots and a transaction value of 110 million [1] - Ju Li Culture (002247) closed at 3.15, up 5.70% with a trading volume of 657,700 lots and a transaction value of 205 million [1] - Huali Co., Ltd. (603038) closed at 20.63, up 5.42% with a trading volume of 182,200 lots and a transaction value of 369 million [1] Sector Fund Flow - The renovation and building materials sector experienced a net outflow of 46.51 million from institutional funds, while retail investors saw a net inflow of 43.79 million [2] - The sector's overall fund flow indicates a mixed sentiment, with institutional investors pulling back while retail investors are more active [2] Individual Stock Fund Flow - Zhongqi New Materials (001212) had a net inflow of 21.61 million from institutional funds, while retail investors experienced a net outflow of 26.01 million [3] - Beixin Building Materials (000786) saw a net inflow of 16.05 million from institutional funds, but a net outflow of 24.04 million from retail investors [3] - Huali Co., Ltd. (603038) had a net inflow of 15.75 million from institutional funds, with retail investors also experiencing a net outflow of 9.10 million [3]

Group 1 - The core viewpoint of the article is that institutional investors have increased their holdings in Huali Co., Ltd. (603038.SH), with a total of 70.35 million shares held, representing 26.18% of the total share capital, which is an increase of 0.85 percentage points from the previous quarter [1] Group 2 - Four institutional investors disclosed their holdings in Huali Co., Ltd., including Anhui Hongdian Capital Management Partnership, Shenzhen Qianhai Ruijing Kaiyuan Fund Management Co., Ltd., and J.P. Morgan Securities PLC [1] - The number of public funds that did not disclose their holdings this quarter remained at 10, including funds such as Anxin Quantitative CSI 300 Enhanced A and Southern CSI 2000 ETF [1] - One new foreign institution, J.P. Morgan Securities PLC, disclosed its holdings this quarter, while UBS AG did not disclose its holdings compared to the previous quarter [1]

Core Viewpoint - Huali Co., Ltd. is a well-known enterprise in the domestic decorative composite materials sector, focusing on R&D and sales, with strong technological innovation capabilities [1] Group 1: Business Performance - In Q3 2025, Huali achieved a revenue of 978 million yuan, ranking 8th among 17 companies in the industry, with the industry leader, Beixin Building Materials, generating 19.905 billion yuan [2] - The main business composition includes edge strips at 223 million yuan (41.82%), surface panels at 178 million yuan (33.29%), and water treatment equipment (including membrane components) at 107 million yuan (20.11%) [2] - The net profit for the same period was 62.5143 million yuan, ranking 4th in the industry, with the top performer, Beixin Building Materials, at 2.655 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Huali's debt-to-asset ratio was 42.98%, higher than the previous year's 26.16% and above the industry average of 34.66% [3] - The gross profit margin for Q3 2025 was 29.76%, an increase from 25.62% year-on-year, and also above the industry average of 19.88% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 12.12% to 32,700, while the average number of circulating A-shares held per account increased by 13.80% to 8,226.24 [5] Group 4: Leadership - The chairman and president, Dong Jiangang, has a rich background, holding multiple positions in various companies and possessing an EMBA degree [4]

Core Viewpoint - The digital transformation wave in the A-share market continues, with Huali Co., Ltd. announcing plans to acquire a 51% stake in Beijing Zhongke Huilian Technology Co., Ltd. to accelerate its digital transformation. However, the stock price of Huali Co. dropped to the daily limit after the announcement [1][5]. Group 1: Acquisition Details - Huali Co. intends to use its own or raised funds to acquire 51% of Zhongke Huilian's shares, which is not considered a related party transaction and is expected not to constitute a major asset restructuring [4]. - The acquisition aims to enhance Huali Co.'s digital capabilities and business scale, creating a new profit growth point for the company [4]. Group 2: Market Reaction - Following the acquisition announcement, Huali Co.'s stock price fell to the daily limit, closing at 20.76 yuan per share, with a total market value of 5.578 billion yuan and a trading volume of 709 million yuan on that day [5]. Group 3: Background of Target Company - Zhongke Huilian, established in April 1999, has a registered capital of 60 million yuan and previously attempted to list on the New Third Board and later initiated a process for listing on the Growth Enterprise Market in 2023 [7][6]. Group 4: Financial Performance - Huali Co. reported revenues of approximately 773 million yuan, 793 million yuan, and 1.054 billion yuan for the years 2022 to 2024, with corresponding net profits of about 10.6579 million yuan, 18.5946 million yuan, and 23.1013 million yuan [8]. - In the first three quarters of 2025, Huali Co. achieved approximately 978 million yuan in revenue, a year-on-year increase of 56.82%, and a net profit of about 46.8137 million yuan, up 34.15% year-on-year [8].

Core Viewpoint - 华立股份 experienced a significant decline in stock price, with a daily drop limit reached and a net sell-off by brokerage firms totaling 81.71 million yuan [2][3] Trading Activity - The stock had a turnover rate of 12.44% and a total trading volume of 709 million yuan, with a price fluctuation of 12.62% throughout the day [2] - The stock was listed on the Shanghai Stock Exchange for a daily price deviation of -9.28%, prompting increased trading scrutiny [2] - The top five brokerage firms involved in trading accounted for a total transaction volume of 173 million yuan, with buying activity at 45.61 million yuan and selling activity at 127 million yuan, resulting in a net sell-off of 81.71 million yuan [2] Major Brokerage Firms - The largest buying brokerage was Guoyuan Securities, which purchased 12.53 million yuan worth of shares, while the largest selling brokerage was Guotai Junan Securities, which sold 32.50 million yuan worth [2] - Other notable buying brokerages included Dongfang Caifu and Goldman Sachs, while significant selling brokerages also included Kaiyuan Securities and UBS [2][3] Fund Flow - The stock saw a net outflow of 145 million yuan in principal funds, with large orders contributing to a net outflow of 111 million yuan and a net outflow of 34.40 million yuan from larger transactions [2] - Over the past five days, the stock has experienced a cumulative net outflow of 108 million yuan [2] Financial Performance - For the first half of the year, 华立股份 reported a revenue of 533 million yuan, reflecting a year-on-year growth of 40.05%, while net profit was 18.11 million yuan, showing a slight decline of 1.49% compared to the previous year [2]

关于签署股份收购意向性协议的进展公告 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。 证券代码：603038 证券简称：华立股份 公告编号：2025-061 东莞市华立实业股份有限公司 特此公告。 一、交易概述与进展情况 东莞市华立实业股份有限公司（以下简称"公司"）于 2025 年 10 月 29 日 召开第七届董事会第三次会议，审议通过《关于拟签署股份收购意向性协议的议 案》。公司董事会同意公司与北京中科汇联科技股份有限公司（以下简称"中科 汇联"或"标的公司"）的现有股东签署意向性协议，公司拟以自有或自筹资金 方式现金收购现有股东持有的中科汇联 51%的股份。本次收购完成后，标的公司 将成为公司的控股子公司。本交易尚处于筹划阶段，最终的交易对方及收购标的 公司的股份比例、交易价格等需各方进一步协商确定。 以各方签署的正式协议为准。 3. 本次签署的意向协议不构成关联交易。经初步测算，本次交易不构成《上 市公司重大资产重组管理办法》规定的重大资产重组。具体尚需在完成标的公司 审计、评估并确定交易价格等要素后，根据相关 ...

证券代码：603038 证券简称：华立股份 公告编号：2025-056 东莞市华立实业股份有限公司 关于变更会计师事务所公告 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。 重要内容提示： 变更会计师事务所的简要原因及前任会计师的异议情况：为充分保障东莞市 华立实业股份有限公司（以下简称"公司"）年报审计工作安排，更好地适应公 司未来业务发展及规范化需要，现综合考虑公司未来对整体审计工作的需要，公 司拟聘任上会会计师事务所（特殊普通合伙）（以下简称"上会"）为公司 2025 年度财务审计以及内控审计机构。公司已就会计师事务所变更事宜与前任会计师 事务所进行了沟通，前任会计师事务所对本次变更事项表示无异议。 一、拟聘任会计师事务所的基本情况 （一）机构信息 1.基本信息 拟聘任的会计师事务所名称：上会会计师事务所（特殊普通合伙） 原聘任的会计师事务所名称：大信会计师事务所（特殊普通合伙） 法规规定的其他业务。【依法须经批准的项目，经相关部门批准后方可开展经营 活动】 执业资质：会计师事务所执业证书（编号 31000008） ...

东莞市华立实业股份有限公司 关于公司向银行申请并购贷款并质押控股子公司股权的公告 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个别及连带责任。 一、情况概述 东莞市华立实业股份有限公司（以下简称"公司"）2024 年 10 月 28 日 召开 2024 年第三次临时股东大会，审议通过公司以现金方式收购苏州尚源智能 科技有限公司（以下简称"尚源智能"）51%股权事项。2024 年 10 月 29 日， 公司与尚源智能相关股东签署了股权收购协议和补充协议。2024 年 11 月，尚源 智能完成相关工商变更登记手续。具体内容详见公司于 2024 年 9 月 4 日、 2024 年 10 月 11 日、2024 年 10 月 29 日、 2024 年 10 月 30 日和 2024 年 11 月 7 日在上海证券交易所（www.sse.com.cn）及公司指定披露媒体刊登的 相关公告。 证券代码：603038 证券简称：华立股份 公告编号：2025-058 截至目前，根据股权收购协议，公司已完成第一期和第二期交易对价的支付。 为减少资金长期占 ...

证券代码：603038 证券简称：华立股份 公告编号：2025-057 东莞市华立实业股份有限公司 关于修订、制定公司部分治理制度的公告 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个别及连带责任。 东莞市华立实业股份有限公司（以下简称"公司"）于 2025 年 10 月 30 日召开第七届董事会第四次会议，审议通过了《关于修订、制定公司部分治理制 度的议案》，现将有关情况公告如下： 为提高公司治理水平，进一步完善公司治理制度，根据《中华人民共和国公 司法（2023 年修订）》《上市公司章程指引（2025 年修订）》《上市公司股东会规 则》等法律法规、规范性文件的最新规定，结合公司实际情况，拟修订、制定部 分治理制度。具体情况如下： | 序号 | 制度名称 | 类型 | 是否提交股东会审议 | | --- | --- | --- | --- | | 1 | 控股股东、实际控制人行为规范 | 修订 | 是 | | 2 | 董事及高级管理人员行为规范 | 修订 | | | 3 | 对外担保决策管理制度 | 修订 | | | 4 | 关联交 ...