Core Points - The company will hold an investor briefing on November 24, 2025, from 15:00 to 16:00 to discuss its Q3 2025 performance and financial indicators [2][3][4] - Investors can submit questions from November 17 to November 21, 2025, through the Shanghai Stock Exchange Roadshow Center website or via email [4][5][6] - The briefing will be conducted in a video format combined with online interaction, allowing for real-time responses to investor inquiries [3][6][7] Meeting Details - The meeting will take place at the Shanghai Stock Exchange Roadshow Center [5][6] - Key participants include the company's General Manager, Independent Director, and Financial Officer [4][5] - Investors can access the meeting online and view the main content afterward on the Roadshow Center website [7]

科华控股股份有限公司 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： （网址：https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频录播和网络互动 投资者可于 2025 年 11 月 17 日（星期一）至 11 月 21 日（星期五）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 zqsw@khmm.com.cn 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。 科华控股股份有限公司（以下简称"公司"）已于 2025 年 10 月 31 日发布 公司 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 年第 三季度经营成果、财务状况，公司计划于 2025 年 11 月 24 日（星期一）15:00-16:00 举行 2025 年第三季度业绩说明会，就投资者关心的问题进行交流。 证券代码：603161 证券简称：科华控股 公告编号：2025-074 关于召开 2025 年第三季度业绩说明会的公告 三、参加人员 公司 ...

Group 1 - Digital Zhengtong's subsidiary Baoding Jindi won a bid for a smart water project in Jinan, with a total contract value of 109 million yuan, of which Baoding Jindi's share is approximately 77 million yuan [1] - Lingzhi Software plans to acquire 100% equity of Kaimiride through a combination of cash and stock issuance, with the final transaction price yet to be determined [1] - Tianjin Port's subsidiary plans to transfer 60% equity of China Railway Storage and Transportation, with an estimated value of 37.54 million yuan for the entire equity [2] Group 2 - New Wufeng reported a 56.97% year-on-year increase in pig sales in October, selling 610,000 pigs [3] - New Peng Co. announced a joint investment of approximately 15 million USD with Jabil to build a battery storage box project in Thailand [4] - Maiwei Bio received approval for a clinical trial of its 9MW3811 injection for pathological scars [6] Group 3 - Jiangsu Sopo completed maintenance and resumed production of its methanol and acetic acid facilities [8] - Luoniushan reported a 24.65% year-on-year increase in pig sales revenue in October, totaling 116 million yuan [9][10] - Zhongbei Communication signed a 1 billion yuan comprehensive computing service framework agreement with Xiamen Hongxin Electronics [11] Group 4 - Huayang New Materials announced the resignation of its general manager, Wu Yuehua [12] - Zhongxin Co. used 50 million yuan of idle funds to purchase structured deposits with expected annual returns between 0.55% and 2.05% [14] - Huajian Group's subsidiary signed a construction engineering design contract worth 96.54 million yuan [16] Group 5 - Jianyou Co. received FDA approval for a new production site for its injectable drug [17] - Beilu Pharmaceutical obtained a drug registration certificate for its iodine mepivacaine injection, which is included in the national medical insurance catalog [19] - *ST Yuancheng's stock will be suspended due to falling below the market cap threshold for delisting [20] Group 6 - Xiantan Co. reported a 9.3% year-on-year increase in chicken product sales revenue in October, totaling 503 million yuan [21] - Huanxu Electronics reported an 8.93% year-on-year decrease in consolidated revenue for October, amounting to 5.598 billion yuan [23] - Yisheng Co. reported a 22.97% year-on-year decrease in white feather chicken seed sales revenue in October [25] Group 7 - Yuandong Bio initiated a Phase I/II clinical trial for its ADC drug YLSH003 targeting advanced solid tumors [25] - Xiaoming Co. reported a 34.89% year-on-year decrease in chicken product sales revenue in October [26] - Nanjiao Food reported a 5.27% year-on-year decrease in consolidated revenue for October, totaling 235 million yuan [28] Group 8 - Chuangye Huikang announced a potential change in control, leading to a temporary stock suspension [30] - Tangrenshen reported a 17.91% year-on-year decrease in pig sales revenue in October, totaling 828 million yuan [32][33] - Wancheng Group plans to distribute a cash dividend of 1.5 yuan per 10 shares to shareholders [34] Group 9 - Kangguan Technology plans to distribute a cash dividend of 3.6 yuan per 10 shares to shareholders [36] - Shoudu Online's executive plans to reduce holdings of up to 19,400 shares [38] - Maolai Optical received approval for the issuance of convertible bonds [40] Group 10 - Jinkai New Energy plans to distribute a cash dividend of 0.1 yuan per share to shareholders [41] - Tianchen Medical raised the upper limit for share repurchase to 70 yuan per share [42] - Tianmu Lake used 38 million yuan of idle funds to purchase structured deposits [43]

Core Points - The company announced the election of Mr. Tu Han as the chairman of the board and legal representative, effective from October 27, 2025 [2] - The company has completed the registration procedures for the change of legal representative and obtained a new business license from the Changzhou Administrative Service Management Office [2] Summary by Categories - **Board Changes** - Mr. Tu Han has been elected as the chairman of the board [2] - The election will take place during the 19th meeting of the fourth board session [2] - **Legal and Administrative Updates** - The company has completed the legal representative change registration [2] - A new business license has been issued following the change [2]

证券代码：603161 证券简称：科华控股 公告编号：2025-073 科华控股股份有限公司 特此公告。 科华控股股份有限公司董事会 2025 年 11 月 10 日 1 关于完成法定代表人工商变更登记的公告 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。 科华控股股份有限公司（以下简称"公司"）于 2025 年 10 月 27 日召开第 四届董事会第十九次会议，审议通过了《关于选举公司第四届董事会董事长的议 案》，经审议，董事会同意选举涂瀚先生为公司第四届董事会董事长，任期自本 次董事会会议审议通过之日起至第四届董事会任期届满之日止。根据《科华控股 股份有限公司章程》，公司董事长是代表公司执行公司事务的董事，为公司法定 代表人，涂瀚先生自本次董事会审议通过之日起担任公司法定代表人。具体内容 详见公司 2025 年 10 月 28 日披露于上海证券交易所网站（www.sse.com.cn）的 《科华控股股份有限公司关于董事长离任暨选举新任董事长的公告》（公告编号： 2025-071）。 近日，公司已完成法定代表人工商变更登记手 ...

Core Insights - Kewah Holdings, established in June 2002 and listed on the Shanghai Stock Exchange in January 2018, is a significant player in the turbocharger key components sector, showcasing strong R&D and production capabilities, indicating notable investment value [1] Financial Performance - In Q3 2025, Kewah Holdings achieved a revenue of 1.666 billion yuan, ranking 42nd among 103 companies in the industry, with the industry leader, Weichai Power, reporting revenue of 170.571 billion yuan [2] - The company's net profit for the same period was 80.011 million yuan, placing it 60th in the industry, while the top performer, Weichai Power, reported a net profit of 10.852 billion yuan [2] Financial Ratios - As of Q3 2025, Kewah Holdings had a debt-to-asset ratio of 48.95%, down from 54.04% year-on-year, which is above the industry average of 39.06% [3] - The gross profit margin for the period was 14.58%, a decrease from 16.61% year-on-year, and below the industry average of 21.53% [3] Management and Governance - The chairman, Tu Han, holds multiple significant positions across various companies, while the general manager, Zong Lou, saw a salary reduction from 1.3856 million yuan in 2023 to 1.2538 million yuan in 2024, a decrease of 131,800 yuan [4] Shareholder Dynamics - As of September 30, 2025, the number of A-share shareholders decreased by 4.05% to 17,300, while the average number of circulating A-shares held per shareholder increased by 4.22% to 11,000 [5] Market Outlook - Dongxing Securities noted that Kewah Holdings faced pressure on profitability due to a decline in gross margin and increased asset impairment provisions, alongside challenges from reduced overseas demand and falling product prices [5] - The firm projects net profits for 2025-2027 to be 120 million, 150 million, and 180 million yuan, respectively, with corresponding EPS of 0.64, 0.77, and 0.93 yuan [5]

Group 1 - The core point of the article is that Kehua Holdings reported its Q3 2025 financial results, showing a revenue increase and a rise in net profit compared to the previous year [1] - The company achieved a revenue of 586,364,920.12 yuan in Q3 2025, representing a year-on-year growth of 3.90% [1] - The net profit attributable to shareholders of the listed company was 26,121,384.51 yuan, reflecting a year-on-year increase of 7.92% [1]

Financial Performance - The company's operating revenue for the third quarter was ¥586,364,920.12, representing a year-on-year increase of 3.90%[5] - The total profit for the quarter was ¥29,265,783.07, reflecting a year-on-year increase of 14.43%[5] - The net profit attributable to shareholders was ¥26,121,384.51, which is a 7.92% increase compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥19,968,335.21, down 38.58% year-on-year due to changes in product structure and market competition[9] - The basic earnings per share for the quarter was ¥0.14, an increase of 16.67% year-on-year[5] - Total operating revenue for the first three quarters of 2025 was CNY 1,666,215,763.12, a decrease of 5.95% compared to CNY 1,771,958,738.10 in the same period of 2024[23] - Net profit for the first three quarters of 2025 was CNY 80,010,980.83, a decline of 14.8% from CNY 93,780,334.44 in 2024[24] - Earnings per share for the first three quarters of 2025 was CNY 0.44, compared to CNY 0.49 in the same period of 2024[25] - Operating profit for the first three quarters of 2025 was approximately ¥99.50 million, down 12.3% from ¥113.49 million in 2024[36] - Net profit for the first three quarters of 2025 was approximately ¥89.79 million, a decline of 13.0% compared to ¥103.19 million in 2024[36] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,938,446,227.00, a decrease of 5.83% compared to the end of the previous year[6] - Total assets decreased to CNY 2,938,446,227.00 in 2025 from CNY 3,120,257,478.72 in 2024, reflecting a reduction of 5.83%[21] - Total liabilities decreased to CNY 1,438,476,661.61 in 2025 from CNY 1,655,905,033.75 in 2024, a decline of 13.14%[21] - Total liabilities decreased to CNY 1,345,505,218.72 as of September 30, 2025, compared to CNY 1,543,260,196.69 at the end of 2024[33] Cash Flow - The company reported a net cash flow from operating activities of ¥415,988,263.62 for the year-to-date, reflecting a slight increase of 0.76%[5] - Cash inflow from operating activities for the first three quarters of 2025 was CNY 1,358,074,461.02, a decrease of 12.06% compared to CNY 1,544,438,827.30 in the same period of 2024[28] - Net cash flow from operating activities for the first three quarters of 2025 was CNY 415,988,263.62, slightly up from CNY 412,864,712.18 in 2024, indicating a stable performance[28] - Cash flow from operating activities for the first three quarters of 2025 was approximately ¥415.21 million, slightly down from ¥431.09 million in 2024[39] - Cash inflow from financing activities for the first three quarters of 2025 was CNY 512,210,103.86, down from CNY 598,666,489.00 in 2024[29] Shareholder Changes - The first phase of the share transfer agreement was completed on September 30, 2025, with a total of 31,454,679 shares transferred, resulting in a new controlling shareholder, Lu Hongping, holding 19.64% of the voting rights[16] - The company plans to issue 30 million A-shares, which will increase the acquirer's shareholding to 34.73% post-issuance[15] - The second phase of the share transfer is expected to be completed by March 31, 2026, with 9,766,073 shares involved[13] - The company has signed a voting rights waiver agreement, where the previous controlling shareholders will waive their voting rights on the second phase of shares until the completion of the transfer[13] - The board of directors has elected Tu Han as the chairman, effective immediately, following the recent changes in control[17] - The company has appointed new non-independent directors, including Tu Han and Tu Jian, as part of the board restructuring following the change in control[17] Inventory and Current Assets - As of September 30, 2025, the company's total current assets amounted to approximately CNY 1.43 billion, a decrease from CNY 1.50 billion as of December 31, 2024, reflecting a decline of about 4.5%[19] - The company's inventory decreased to CNY 500.32 million from CNY 558.49 million, indicating a reduction of about 10.4%[19] - The company’s inventory as of September 30, 2025, was CNY 474,951,920.67, a decrease from CNY 525,768,416.65 at the end of 2024[31] Research and Development - The company reported a decrease in research and development expenses to CNY 55,901,379.19 in 2025 from CNY 63,049,273.55 in 2024, a reduction of 11.4%[24] - The company reported a decrease in research and development expenses to approximately ¥49.58 million in 2025 from ¥57.54 million in 2024, a reduction of 13.8%[35] Financial Expenses - The company’s financial expenses decreased significantly to approximately ¥1.41 million in 2025 from ¥23.90 million in 2024, a reduction of 94.1%[35]

Core Insights - Kewah Holdings' stock price increased by 2.13% on October 30, reaching 13.93 CNY per share, with a total market capitalization of 2.708 billion CNY [1] - The company has seen a year-to-date stock price increase of 36.22%, with recent trading performance showing a 3.26% rise over the last five days and a 12.70% increase over the last 60 days [2] Financial Performance - For the first half of 2025, Kewah Holdings reported a revenue of 1.08 billion CNY, a year-on-year decrease of 10.58%, and a net profit attributable to shareholders of 55.595 million CNY, down 20.99% year-on-year [2] - Cumulative cash dividends since the company's A-share listing amount to 161 million CNY, with 70.4028 million CNY distributed over the past three years [3] Business Overview - Kewah Holdings, established on June 13, 2002, and listed on January 5, 2018, specializes in the research, production, and sales of key components for turbochargers [2] - The company's revenue composition includes turbo shells and assembly parts (58.40%), intermediate shells and assembly parts (30.71%), and other mechanical components (10.40%) [2] - Kewah Holdings operates within the automotive industry, specifically in the automotive parts sector, and is associated with concepts such as small-cap stocks, new energy vehicles, and BYD-related stocks [2]

Group 1 - The chairman of Kehua Holdings, Chen Hongmin, resigned due to work adjustments, effective immediately upon delivery of the resignation to the board. He will continue to serve as a non-independent director and chairman of the board's strategic committee [2] - Tu Han has been elected as the new chairman and will also serve as the company's legal representative [2] - The company expressed gratitude for Chen Hongmin's contributions during his tenure and will complete the necessary legal registration changes for the new legal representative [2] Group 2 - Kehua Holdings was established on June 13, 2002, with a registered capital of 1.94407705 billion RMB. The company is located in Changzhou, Liyang, and specializes in producing key components for automotive power units and chassis transmission systems, including turbocharger turbine housings, intermediate housings, and differentials [2] - The company has 8 subsidiaries, including Liyang Lianhua Machinery Manufacturing Co., Ltd., LYKH GmbH, Kehua Holdings (Hong Kong) Co., Ltd., Kehua Holdings (Shanghai) Co., Ltd., and LYKH LLC [3] - The company reported revenues of 2.262 billion RMB, 2.615 billion RMB, 2.372 billion RMB, and 1.080 billion RMB for the years 2022, 2023, 2024, and the first half of 2025, reflecting year-on-year growth rates of 19.27%, 15.58%, -9.28%, and -10.58% respectively. The net profit attributable to shareholders was 19.527 million RMB, 123 million RMB, 105 million RMB, and 55.595 million RMB, with year-on-year growth rates of 141.76%, 530.95%, -14.71%, and -20.99% respectively [4] - The company's asset-liability ratios were 66.76%, 60.73%, 53.07%, and 50.56% for the same periods [4]