Core Viewpoint - Yunzhongma's stock price has shown significant volatility, with a year-to-date increase of 89.48%, but a recent decline over the past five and twenty trading days [1][2]. Company Overview - Zhejiang Yunzhongma Co., Ltd. is located in Wangcun Industrial Zone, Songyang County, Lishui City, Zhejiang Province, established on September 16, 2010, and listed on November 18, 2022 [1]. - The company's main business involves the research, production, and sales of leather base fabrics, with revenue composition being 87.23% from warp-knitted leather base fabrics, 12.30% from weft-knitted leather base fabrics, and 0.48% from other sources [1]. Financial Performance - For the period from January to September 2025, Yunzhongma achieved operating revenue of 1.944 billion yuan, representing a year-on-year growth of 5.53%. However, the net profit attributable to shareholders decreased by 24.89% to 50.48 million yuan [2]. - Since its A-share listing, Yunzhongma has distributed a total of 99.5571 million yuan in dividends [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for Yunzhongma was 11,700, a decrease of 14.04% from the previous period, with an average of 4,378 circulating shares per person, an increase of 16.34% [2]. - Notable institutional holdings include the fifth-largest shareholder, Fortune New Vitality Flexible Allocation Mixed A, with 729,000 shares, and the seventh-largest shareholder, Fortune Core Advantage Mixed Initiated A, with 574,300 shares, both of which are new shareholders [3]. Market Activity - On October 28, Yunzhongma's stock price rose by 2.20% to 41.78 yuan per share, with a trading volume of 60.5062 million yuan and a turnover rate of 2.88%, resulting in a total market capitalization of 5.745 billion yuan [1]. - The stock has appeared on the daily trading leaderboard seven times this year, with the most recent appearance on October 23, where it recorded a net buy of -8.8143 million yuan [1].

Core Viewpoint - The company, Zhejiang Yunzhongma Co., Ltd., has announced its decision to use idle self-owned funds for entrusted wealth management, aiming to enhance fund utilization efficiency and increase returns for the company and its shareholders [7][9][16]. Financial Data - The financial statements for the third quarter of 2025 have not been audited [3]. - The company reported that the net profit of the merged entity before the merger was 0 yuan, consistent with the previous period [6]. Investment Overview - The company plans to invest up to 500 million yuan in low-risk, high-liquidity financial products or deposit-type products [10][12]. - The investment will be funded from idle self-owned funds, ensuring that daily operational needs and main business activities remain unaffected [16]. Risk Management - The company acknowledges potential market volatility risks and will implement strict decision-making and management processes for entrusted wealth management [15]. - Independent directors and the supervisory board will have the authority to oversee the use of funds and may engage professional institutions for audits if necessary [15]. Board Meeting - The 21st meeting of the third board of directors was held on October 27, 2025, where the proposal for using idle funds for entrusted wealth management was approved unanimously [20][23]. - The meeting complied with relevant laws and regulations, with all 11 directors present [20].

Core Viewpoint - Yunzhongma (603130.SH) reported a year-on-year revenue growth of 5.53% for the first three quarters of 2025, reaching a total revenue of 1.944 billion yuan, while the net profit attributable to shareholders decreased by 24.89% to 50.48 million yuan [1] Financial Performance - Total operating revenue for the first three quarters of 2025 was 1.944 billion yuan, reflecting a year-on-year increase of 5.53% [1] - Net profit attributable to the parent company's shareholders was 50.48 million yuan, showing a decline of 24.89% compared to the previous year [1] - Basic earnings per share stood at 0.37 yuan [1]

浙江云中马股份有限公司（以下简称"公司"）第三届董事会第二十一次会 议于 2025 年 10 月 27 日在公司会议室以现场结合通讯的方式召开。会议通知已 于 2025 年 10 月 16 日通过邮件的方式送达各位董事。本次会议应出席董事 11 人，实际出席董事 11 人（其中：独立董事马知方、蒋苏德、倪宣明、田景岩以 通讯方式出席）。 会议由董事长叶福忠主持，公司监事、高级管理人员列席。会议召开符合有 关法律、法规、规章和《浙江云中马股份有限公司章程》的规定。 二、董事会会议审议情况 本次会议审议并通过了以下事项： （一）审议通过《关于公司<2025 年第三季度报告>的议案》 证券代码：603130 证券简称：云中马 公告编号：2025-039 浙江云中马股份有限公司 第三届董事会第二十一次会议决议公告 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法律责任。 一、董事会会议召开情况 详见公司同日在上海证券交易所网站（www.sse.com.cn）披露的《浙江云中 马股份有限公司关于使用闲置自有资金进行委托理财的公告》。 特此公告。 ...

Group 1 - The core point of the news is that Yunzhongma (SH 603130) held its 21st meeting of the third board on October 27, 2025, to review the proposal for the company's Q3 2025 report [1] - For the year 2024, Yunzhongma's revenue composition is 99.6% from manufacturing and 0.4% from other businesses [1] - As of the time of reporting, Yunzhongma has a market capitalization of 5.6 billion yuan [2]

证券代码：603130 证券简称：云中马 公告编号：2025-040 浙江云中马股份有限公司 关于使用闲置自有资金进行委托理财的公告 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。 重要内容提示： 基本情况 | 投资金额 | 不超过人民币 5 | 亿元 | | --- | --- | --- | | 投资种类 | 安全性高、流动性好、中低风险的理财产品或存款类 | | | | 产品 | | | 资金来源 | 自有资金 | | 2025 年 10 月 27 日，浙江云中马股份有限公司（以下简称"公司"召开 了第三届董事会第二十一次会议审议通过了《关于使用闲置自有资金进行委 托理财的议案》。该事项在董事会审批权限范围内，无需提交公司股东大会审 议。 特别风险提示 公司及子公司拟使用自有资金购买的理财产品为安全性高、流动性好、中低 风险的理财产品或存款类产品，但金融市场受宏观经济的影响较大，不排除该项 投资受到市场波动风险、宏观经济形势及货币政策、财政政策等宏观政策发生变 化带来的系统性风险影响，投资的实际收益不可预期。 一、投资情 ...

浙江云中马股份有限公司 2025 年第三季度报告 证券代码：603130 证券简称：云中马 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 单位：元 币种：人民币 浙江云中马股份有限公司 2025 年第三季度报告 | | | 本报告期比 | | 年初至报告期 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期增 | 年初至报告期末 | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 699,177,272.94 | 12.12 | 1,944,366,515.24 | 5.53 | | 利润总额 | 16,357,563.74 | -14.24 | 55,902,386 ...

Core Viewpoint - The recent surge in stocks related to the "horse" concept reflects a speculative trend driven by emotions, with significant risks involved. Long-term stock prices are expected to revert to their intrinsic value, and investors may miss out on genuinely promising assets by chasing such themes [3][9][10]. Group 1: Stock Performance - Since July, 29 stocks with "horse" in their names have shown a notable increase, with an average rise of 59.85% year-to-date, significantly outperforming the A-share market's average increase of 33.51% [4][5]. - Seven stocks have more than doubled in value this year, with Jinma Amusement leading at a 267% increase [5][6]. - In July alone, Jinma Amusement saw a rise of over 90%, while several other "horse" stocks also experienced substantial gains [5][6]. Group 2: Market Dynamics - The market capitalization of "horse" related stocks ranges from 3.5 billion to 37.6 billion yuan, with 13 companies exceeding 10 billion yuan in market value [6]. - Despite the impressive stock performance, many of these companies have reported declining revenues or losses, indicating a disparity in the underlying business fundamentals [6][7]. Group 3: Speculative Behavior - The phenomenon of "zodiac stock" speculation is characterized by irrational market behavior and information asymmetry, leading to a bubble-like environment where prices deviate from fundamental values [9][10]. - The rise of social media and financial self-media has amplified the emotional contagion effect, making simplistic narratives like "buying horse stocks in the year of the horse" more prevalent [10][11].

云中马(603130)今日下跌9.36%，全天换手率11.40%，成交额2.36亿元，振幅10.78%。龙虎榜数据显 示，营业部席位合计净卖出881.43万元。 上交所公开信息显示，当日该股因日跌幅偏离值达-9.58%上榜，营业部席位合计净卖出881.43万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交5762.12万元，其中，买入成交额为 2440.35万元，卖出成交额为3321.77万元，合计净卖出881.43万元。 资金流向方面，今日该股主力资金净流出3005.07万元，其中，特大单净流出1996.80万元，大单资金净 流出1008.27万元。近5日主力资金净流出4232.89万元。 8月27日公司发布的半年报数据显示，上半年公司共实现营业收入12.45亿元，同比增长2.17%，实现净 利润3576.33万元，同比下降30.46%。（数据宝） 云中马10月23日交易公开信息 | 买/卖 | 会员营业部名称 | 买入金额（万元） | 卖出金额（万元） | | --- | --- | --- | --- | | 买一 | 浙商证券股份有限公司宁波分公司 | 621.41 | | | 买二 | ...

Core Points - Cloud Horse (sh603130) hit the daily limit down, closing at 39.72 yuan, with a decline of 9.99%, and a total market capitalization of 5.462 billion yuan [1] Company Summary - The company faced operational challenges, with a net profit decline of 30.46% year-on-year in the first half of 2025, a continuous pressure on gross margin, and an operating cash flow of -99.11 million yuan. Short-term borrowings reached 1.174 billion yuan, indicating high financial leverage, with total guarantees accounting for 39.04% of net assets, and subsidiaries having a debt-to-asset ratio exceeding 70% [2] - The planned issuance of new shares will dilute existing shareholders' equity, leading to a short-term reduction in earnings per share, contributing to downward pressure on the stock price [2] - The company's ESG rating from Shidao Ronglv for Q3 2025 was B-, a decline from the previous period, raising investor concerns about the company's sustainable development capabilities and impacting long-term investment value [2] - The textile industry, to which Cloud Horse belongs, is experiencing intensified competition, with 30% of its DTY silk production capacity needing to be exported, posing risks for capacity digestion. The overall performance of the textile sector has been lackluster, with some related stocks also experiencing declines, further affecting Cloud Horse's stock price [2] - A significant number of restricted shares, totaling 86.4508 million shares (62.87% of total shares), are set to be unlocked on November 18, 2025, leading to expectations of shareholder sell-offs and potential capital outflows [2] - From a technical perspective, after reaching a historical high, the stock may face profit-taking pressure, resulting in price adjustments [2]