Core Viewpoint - 兰石重装 reported a significant increase in revenue for Q3 2025, but also posted a net loss for the period [1] Financial Performance - The company's operating revenue reached 1.914 billion yuan, representing a year-on-year increase of 53.53% [1] - The net profit attributable to shareholders was -43.1328 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -50.1401 million yuan [1]

证券代码：603169 证券简称：兰石重装 公告编号：临 2025-088 兰州兰石重型装备股份有限公司 重要内容提示： 会议召开时间：2025 年 11 月 10 日(星期一)11:00-12:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络文字互动 投资者可于 2025 年 11 月 3 日（星期一）至 11 月 7 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 （zqb@lshec.com）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。 兰州兰石重型装备股份有限公司（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 10 日（星期一） 11:00-12:00 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。 一、说明会类型 本次投资者 ...

证券代码：603169 证券简称：兰石重装 公告编号：临 2025-087 兰州兰石重型装备股份有限公司 关于同一控制下企业合并追溯调整财务数据的公告 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。 兰州兰石重型装备股份有限公司（以下简称"兰石重装"或"公司"）第六 届董事会第八次会议审议并通过了《关于同一控制下企业合并追溯调整财务数据 的议案》，现将有关情况公告如下： 根据《企业会计准则第 33 号——合并财务报表》等相关规定，对于同一控 制下的企业合并，在合并当期编制合并财务报表时，应当调整合并资产负债表的 期初数，应当将被合并的子公司合并当期期初至报告期末的收入、费用、利润纳 1 入合并利润表，以及将被合并的子公司合并当期期初至报告期末的现金流量纳入 合并现金流量表，同时应当对比较报表的相关项目进行调整，视同合并后的报告 主体自最终控制方开始控制时点起一直存在。因此，公司需要按照上述规定，对 截至 2024 年 12 月 31 日合并资产负债表、2024 年 1-9 月合并利润表、2024 年 1-9 月合并现金流量表相 ...

证券代码：603169 证券简称：兰石重装 公告编号：临 2025-086 兰州兰石重型装备股份有限公司 第六届董事会第八次会议决议公告 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。 2. 审议通过《关于同一控制下企业合并追溯调整财务数据的议案》 同意公司按照同一控制下企业合并的相关规定，对截至 2024 年 12 月 31 日 合并资产负债表、2024 年 1-9 月合并利润表、2024 年 1-9 月合并现金流量表相 关财务数据进行追溯调整。 一、董事会会议召开情况 兰州兰石重型装备股份有限公司（以下简称"公司"）第六届董事会第八次 会议于 2025 年 10 月 30 日以现场加通讯表决方式在公司六楼会议室召开。会议 通知于 2025 年 10 月 24 日以电子邮件方式送达全体董事。会议应出席董事 9 人， 实际出席董事 9 人，公司高级管理人员列席会议。会议由公司董事长郭富永主持， 会议的召集、召开符合《公司法》及公司《章程》的相关规定。 二、董事会会议审议情况 会议以记名投票方式形成如下决议： 1. 审议通过《2 ...

Financial Performance - Operating revenue for the third quarter reached ¥1,914,250,353.04, an increase of 53.53% compared to the same period last year[3] - Total profit for the quarter was -¥43,621,650.09, a decrease of 253.78% year-on-year[3] - Net profit attributable to shareholders was -¥43,132,765.11, down 263.44% from the previous year[3] - Basic earnings per share for the quarter were -¥0.033, a decrease of 263.37% year-on-year[3] - Net profit for the first three quarters of 2025 was ¥1,165,443.95, a significant decrease from ¥97,287,272.20 in the previous year[16] - The net profit for the first three quarters of 2025 was a loss of ¥46,010,334.35, compared to a profit of ¥37,631,567.12 in the first three quarters of 2024, indicating a significant decline in profitability[24] Cash Flow - The net cash flow from operating activities was -¥8,265,512.62, a decline of 115.08% compared to the same period last year[3] - The net cash flow from operating activities for the first three quarters of 2025 was -135,071,119.01, a decrease from 318,553,212.16 in the same period of 2024[27] - Cash inflow from operating activities totaled ¥4,100,727,986.37, slightly up from ¥4,065,338,916.76 in the previous year[20] - Total cash inflow from operating activities decreased to 2,745,225,268.91 in 2025 from 2,905,204,757.19 in 2024, representing a decline of approximately 5.5%[27] - Cash inflow from financing activities decreased to 3,091,170,000.00 in 2025 from 3,702,860,000.00 in 2024, a decline of about 16.5%[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥12,672,263,750.83, an increase of 1.13% from the end of the previous year[3] - Total current assets as of September 30, 2025, amount to ¥7,906,351,924.50, an increase from ¥7,680,234,202.52 in December 2024[11] - Total liabilities as of September 30, 2025, are ¥9,114,131,850.17, compared to ¥8,903,499,277.38 in December 2024[12] - The total assets as of September 30, 2025, are ¥12,672,263,750.83, compared to ¥12,530,576,708.82 in December 2024[12] - The company's total liabilities and equity amounted to ¥12,672,263,750.83, an increase from ¥12,530,576,708.82 year-over-year[15] Shareholder Information - Total number of common shareholders at the end of the reporting period is 87,888[8] - The largest shareholder, Lanzhou Lanshi Group Co., Ltd., holds 602,062,196 shares, accounting for 46.09% of total shares[8] - The company reported a total equity attributable to shareholders of ¥3,309,860,229.43, down from ¥3,395,211,764.20 in the previous year[15] - The total equity decreased to ¥3,135,742,104.87 as of September 30, 2025, from ¥3,181,752,439.22 at the end of 2024, reflecting a decline in shareholder value[23] Research and Development - The company's R&D expenses increased by 65.67% year-to-date, reflecting a commitment to new product development and technology transformation[6] - Research and development expenses increased to ¥196,204,613.29, up 65.7% from ¥118,433,508.04 year-over-year[15] - Research and development expenses for the first three quarters of 2025 were ¥81,789,057.14, significantly higher than ¥40,798,897.61 in the same period of 2024, indicating a focus on innovation[24] Inventory and Receivables - The company's inventory as of September 30, 2025, is ¥2,613,760,987.07, down from ¥3,077,730,260.43 in December 2024[11] - The company reported a decrease in accounts receivable from ¥1,260,575,920.37 in December 2024 to ¥1,254,339,798.51 as of September 30, 2025[11] - The company's inventory decreased to ¥1,164,908,158.87 as of September 30, 2025, down from ¥1,670,071,079.26 at the end of 2024, indicating improved inventory management[22] Financing Activities - The company raised ¥10,700,000.00 from minority shareholders during the financing activities in 2025[20] - The company's cash flow from financing activities showed a net inflow of ¥133,793,592.07, a decrease from ¥675,241,437.48 in the previous year[21] - The total cash outflow from financing activities was 3,143,957,778.38 in 2025, slightly lower than 3,207,954,814.32 in 2024[27] Other Financial Metrics - Non-recurring gains and losses for the quarter totaled ¥7,007,355.17, with government subsidies contributing significantly[4] - The company has no significant changes in the participation of major shareholders in margin trading and stock lending[9] - The company did not apply new accounting standards for the year 2025[28]

Core Insights - Lanzhou Lanshi Heavy Equipment Co., Ltd. signed a contract with China Nuclear Engineering Co., Ltd. worth 581 million yuan (including tax) to provide main process equipment for nuclear energy projects, marking a significant breakthrough in the nuclear energy sector [1] - The contract is expected to support the company's operational performance from 2025 onwards, enhancing its market share and core competitiveness in the nuclear energy field [1] Company Overview - Founded in 1953, Lanzhou Lanshi Heavy Equipment has been a pioneer in the petrochemical equipment manufacturing sector, with a focus on energy equipment across traditional and renewable energy, industrial intelligent equipment, and energy conservation [2] - The company has a comprehensive nuclear energy product range covering upstream nuclear-grade materials, nuclear fuel equipment, midstream nuclear power plant equipment, and downstream spent fuel recycling and nuclear environmental protection equipment [2] - The company has seen a continuous increase in nuclear energy orders, with a 32.16% year-on-year growth in new orders amounting to 306 million yuan in the first half of the year [2] Strategic Developments - The company is investing in enhancing its nuclear power equipment production capacity through the establishment of new heavy-duty workshops and the installation of advanced core equipment [2] - The company aims to leverage favorable policies in the nuclear energy market to deepen its development in the third-generation nuclear power equipment market and accelerate the exploration of fourth-generation nuclear equipment and spent fuel processing [3]

Group 1 - The core viewpoint of the news is that the National Petroleum and Natural Gas Index (399439) has shown a strong increase of 1.00%, driven by significant gains in constituent stocks such as Lanstone Heavy Industry (603169) up 9.98%, and China Merchants Energy Shipping (601872) up 7.81% [1] - The U.S. Energy Information Administration (EIA) reported a decrease in crude oil inventories by 6.86 million barrels last week, exceeding expectations, which contributed to the rise in oil prices [1] - Zhongyou Securities indicated that if there is a future premium on crude oil due to regional situations, it would benefit upstream assets, while improvements in demand and supply could favor midstream refining [1] Group 2 - As of September 30, 2025, the top ten weighted stocks in the National Petroleum and Natural Gas Index (399439) include China National Petroleum (601857), China Petroleum & Chemical (600028), and China National Offshore Oil (600938), collectively accounting for 64.68% of the index [2] - The Oil and Gas ETF (159697) closely tracks the National Petroleum and Natural Gas Index, reflecting the price changes of publicly listed companies in the oil and gas sector on the Shanghai and Shenzhen stock exchanges [1]

Core Points - Company signed a contract with China Nuclear Engineering Co., Ltd. for a total amount of 581 million yuan (including tax) [1] - The contract is primarily for providing main process equipment for nuclear energy projects, including separators and box chambers [1] - The construction period for the project is approximately one year [1]

Market Overview - Major A-share indices collectively rose on October 29, with the Shanghai Composite Index closing above 4000 points. The market turnover reached 22,906.74 billion yuan, an increase of over 1200 billion yuan compared to the previous trading day. More than 2600 stocks closed higher, with 66 stocks hitting the daily limit up [1]. Institutional Ratings - A total of 328 buy ratings were issued by institutions today, covering 237 stocks. Chengdu Bank received the highest attention, with 7 institutions giving it a buy rating [1]. - Among the stocks rated by institutions, 86 had target prices predicted, with 52 stocks showing an upside potential of over 20%. Haisco had the highest upside potential at 82.87%, followed by Lihigh Food and Funeng Shares at 54.33% and 53.78%, respectively [3]. Performance of Rated Stocks - The stocks with the most buy ratings included China Ping An (5 ratings, +2.06%), Haitian Flavoring (4 ratings, +0.10%), and Ganyuan Food (4 ratings, +2.59%). Chengdu Bank, despite receiving 1 buy rating, saw a decline of 5.74% [2]. - Among the rated stocks, 234 have reported third-quarter earnings, with North Rare Earth showing the highest net profit growth of 280.27% year-on-year, achieving a net profit of 1.541 billion yuan [3]. Institutional Trading Activity - Institutions net bought 23 stocks today, with significant purchases in Yangguang Electric Power (1.055 billion yuan), Keda Guokong (273 million yuan), and Jingao Technology (158 million yuan) [4]. - Conversely, Tianji Shares faced the largest net sell-off by institutions, amounting to 117 million yuan, followed by Weilon Shares and Kaidi Shares, each with net sells exceeding 30 million yuan [5]. Notable Announcements - On October 29, Shanghai Zhiyuan Hengyue Technology announced a successful tender offer for shares of Aowei New Materials, acquiring 33.63% of the company, resulting in a total holding of 58.62% [7]. - China Power Construction signed a contract worth approximately 6.568 billion yuan for a complex hospital project in Peru, with a construction period of 1080 days [7]. - Dangsheng Technology signed an investment cooperation agreement for a solid electrolyte material project, planning to establish a production line with an annual capacity of 3000 tons [9].

Major Events - Shanghai Zhiyuan Hengyue Technology completed the tender offer for Shangwei New Materials, acquiring 58.6232% of the shares, with trading resuming on October 30, 2025 [4] - Peking University Pharmaceutical's chairman and president Xu Xiren has been detained for criminal investigation, but the company's control and operations remain normal [5] - China Unicom's chairman Chen Zhongyue resigned due to work adjustments, effective October 29, 2025 [6][7] - CITIC Financial Assets increased its stake in Hangyang Co., Ltd. to 5% through a block trade, reflecting confidence in the company's future [8] - Haoshi Electromechanical's subsidiary plans to invest 232 million yuan in a high-end equipment intelligent manufacturing project [9] - Zhejiang Xiantong's second shareholder Li Qifu plans to invest 130 million yuan in Qiteng Robotics to enhance production capacity [10] - Qianjiang Biochemical's subsidiary has completed a project for bio-pesticide production, with an annual capacity of 3,261 tons [11] - Dongni Electronics will face risk warnings and a one-day suspension due to an administrative penalty [12] - Jindao Technology signed a strategic cooperation agreement with Hangcha Group to develop robotic joint modules [14] Performance Overview - Kweichow Moutai reported Q3 net profit of 19.224 billion yuan, a 0.48% increase year-on-year, with total revenue of 39.064 billion yuan [15] - Huibai New Materials achieved a Q3 net profit of 27.1307 million yuan, a 3066.26% increase year-on-year, with revenue growth of 49.59% [16] - Zangzi Island reported a Q3 net loss of 42.5226 million yuan, with revenue down 19.92% [17] - OFILM reported a Q3 net profit of 40.8235 million yuan, a 411.91% increase year-on-year, with revenue growth of 21.15% [18] - China Rare Earth's Q3 net profit was 30.4752 million yuan, down 26.43% year-on-year, with revenue declining 22.4% [19] - Tianqi Lithium reported a Q3 net profit of 95.4855 million yuan, turning a profit after previous losses [20] - New Yisheng's Q3 net profit was 2.385 billion yuan, a 205.38% increase year-on-year, driven by AI-related sales growth [21] - Industrial Fulian's Q3 net profit increased by 49% year-on-year [22] - CICC's Q3 net profit grew by 130% year-on-year [23] - Tianpu Co., Ltd. reported a Q3 net profit increase of 33% [24] - BlueFocus reported a Q3 net profit of 99.2389 million yuan, a 265.47% increase year-on-year [25] - Ningshui Group's Q3 net profit was 21.7388 million yuan, a 347.57% increase year-on-year [26] - Shoukai Co. reported a Q3 net loss of 3.105 billion yuan [27] - Xiamen Xiangyu's Q3 net profit was 601 million yuan, a 443.17% increase year-on-year [29] - Huaneng Intelligent reported a Q3 net loss of 53.8408 million yuan, a significant decline [30] - Zhongjin Gold's Q3 net profit increased by 39.18% year-on-year [31] - Shandong Gold's Q3 net profit increased by 92% year-on-year [32] - Yahua Group's Q3 net profit was 198 million yuan, a 278.06% increase year-on-year [33] - Western Gold's Q3 net profit increased by 168% year-on-year [34] - Laobai Gan Liquor reported a 28% decline in net profit for the first three quarters [35] - Kaiying Network's Q3 net profit was 633 million yuan, a 34.51% increase year-on-year [36] - Tongchen Beijian reported a Q3 net profit of 171 million yuan, turning a profit from previous losses [37] - Nanshan Holdings' Q3 net profit increased by 203.51% year-on-year [38] - China Merchants Bank's Q3 net profit was 38.842 billion yuan, a 1.04% increase year-on-year [39] - Huahong Technology's Q3 net profit increased by 7111% year-on-year [40] - Fangda Special Steel's Q3 net profit increased by 1368.1% year-on-year [41] Shareholding Changes - WuXi AppTec's controlling shareholder plans to reduce its stake by up to 2% [43] - Hecai Technology's major shareholder Bosch China plans to reduce its stake by up to 3% [44] Major Contracts - China Electric Power Construction signed a contract worth 6.568 billion yuan for a hospital project in Peru [45] - Lanshi Heavy Industry signed a significant contract in the nuclear energy sector worth 581 million yuan [46] - Guoke Military Industry's subsidiary signed a major sales contract worth 466 million yuan [48]