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]

陈洪民先生在担任公司董事长期间，始终恪尽职守、勤勉尽责，为公司治理 姓名 离任职务 离任时间 原定任期 到期日 离任原因 是否继续在上 市公司及其控 股子公司任职 具体职务 （如适用） 是否存在 未履行完 毕的公开 承诺 陈洪民 董事长 2025 年 10 月 27 日 2027年3月 28 日 工作调整 是 非 独 立 董 事、董事会 战 略 委 员 会 主 席 及 各 公 司 子 公司职务 否 一、董事长离任的基本情况 和战略发展做出了卓越贡献，为促进公司健康和可持续发展发挥了积极作用，忠 实履行了董事长应尽的职责与义务。公司及董事会谨向陈洪民先生在任公司董事 长期间为公司发展所做出的贡献表示诚挚的敬意及衷心的感谢！ 证券代码：603161 证券简称：科华控股 公告编号：2025-071 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 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： 科华控股股份有限公司（以下简称"公司"）董事会于近日收到公司董事长 陈洪民先生的书面辞职报告，因工作调整原因向董事 ...

证券代码：603161 证券简称：科华控股 公告编号：2025-069 科华控股股份有限公司 2025年第二次临时股东会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 64 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 64,895,907 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 35.8979 | | 份总数的比例（%） | | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由公司董事会召集，现场会议由董事长陈洪民先生主持。会议采用 现场投票和网络投票相结合的表决方式。本次会议的召集、召开及表决方式均符 合《中华人民共和国公司法》及《科华控股股份有限公司章程》等有关规定。 (一) 股东会召开的时间：2025 年 10 月 27 日 (二) 股东会召开的地点：江苏省常州市溧阳市昆仑街道中关村达到 399 号 ...

证券代码：603161 证券简称：科华控股 公告编号：2025-070 科华控股股份有限公司 第四届董事会第十九次会议决议公告 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、董事会的召开情况 科华控股股份有限公司（以下简称"公司"）第四届董事会第十九次会议于 2025 年 10 月 27 日在江苏省常州市溧阳市昆仑街道中关村大道 399 号公司会议 室以现场结合通讯表决的方式召开，会议通知已按规定提前向全体董事发出。本 次会议由董事长陈洪民先生召集和主持，会议应出席董事 9 人，实际出席董事 9 人。公司监事、高级管理人员列席了本次会议。本次会议的召集、召开以及表决 程序符合《中华人民共和国公司法》等相关法律法规和《科华控股股份有限公司 章程》（以下简称"《公司章程》"）的有关规定，会议形成的决议合法有效。 二、董事会会议审议情况 （一）审议通过《关于选举公司第四届董事会董事长的议案》。 公司第四届董事会提名委员会第三次会议已就本议案向董事会提出建议，认 为涂瀚先生具备担任公司董事的任职资格和能力，符合相关法律法规、规范 ...

上海上正恒泰律师事务所 上海上正恒泰律师事务所 关于科华控股股份有限公司 2025 年第二次临时股东会的 股东会法律意见书 二○二五年十月二十七日 上海上正恒泰律师事务所 股东会法律意见书 上海上正恒泰律师事务所 关于科华控股股份有限公司 2025 年第二次临时股东会的 法律意见书 致：科华控股股份有限公司 上海上正恒泰律师事务所（以下简称"本所"）接受科华控股股份有限公 司（以下简称"公司"或"科华控股"）的聘请，指派律师（以下简称"本所 律师"）出席了公司 2025 年第二次临时股东会（以下简称"本次股东会"）， 并依据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民 共和国证券法》（以下简称"《证券法》"）、中国证监会《上市公司股东会 规则》（以下简称"《股东会规则》"）等法律法规、规章、规范性文件及 《科华控股股份有限公司章程》（以下简称"《公司章程》"）的规定，就公 司本次股东会发表法律意见。 在本法律意见书中，本所仅对本次股东会召集和召开的程序、出席本次股 东会人员资格和召集人资格及表决程序、表决结果是否符合有关法律法规、 《股东会规则》和《公司章程》的规定发表意见，并不对本次股东会 ...