具体内容详见 2025 年 11 月 11 日在《证券时报》和上海证券交易所网站 （http://www.sse.com.cn）披露的《诺邦股份关于取消监事会并修订<公司章程> 及制定、修订公司部分治理制度的公告》（公告编号：2025-026）。 证券代码：603238 证券简称：诺邦股份 公告编号：2025-025 杭州诺邦无纺股份有限公司 第六届监事会第十二次会议决议公告 本公司监事会及全体监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、监事会会议召开情况 杭州诺邦无纺股份有限公司（以下简称"公司"）于 2025 年 11 月 10 日在杭 州市临平区昌达路8号公司2号会议室以现场方式召开第六届监事会第十二次会 议。会议通知及相关议案资料已于 2025 年 10 月 27 日以专人送达及电子邮件方 式发出。本次会议应到监事 3 人，实到监事 3 人，会议由监事会主席陆年芬女士 主持。会议的通知、召集、召开和表决程序符合法律、法规和《公司章程》《监 事会议事规则》等规范性文件的规定。 二、监事会会议审议情况 1、审议通过《关于取消监事会并 ...

第六届董事会第十三次会议决议公告 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。 证券代码：603238 证券简称：诺邦股份 公告编号：2025-024 杭州诺邦无纺股份有限公司 一、董事会会议召开情况 杭州诺邦无纺股份有限公司（以下简称"公司"）于 2025 年 11 月 10 日在杭 州市临平区昌达路8号公司1号会议室以现场方式召开第六届董事会第十三次会 议。会议通知及相关议案资料已于 2025 年 10 月 27 日以电话、电子邮件等方式 发出。本次会议应到董事 9 人，实到董事 9 人，会议由董事长任建华先生主持。 会议的通知、召集、召开和表决程序符合法律、法规和《公司章程》《董事会议 事规则》等规范性文件的规定。 二、董事会会议审议情况 1、审议通过《关于取消监事会并修订<公司章程>的议案》 具体内容详见 2025 年 11 月 11 日在《证券时报》和上海证券交易所网站 （http://www.sse.com.cn）披露的《诺邦股份关于取消监事会并修订<公司章程> 及制定、修订公司部分治理制度的公告》（公告编号：2 ...

Core Points - The Shanghai Composite Index is at 4009.81 points with a decline of 0.16% and total A-share trading volume of 203.47 billion yuan [1] - A total of 141 A-shares have seen their 5-day moving average cross below the 10-day moving average, indicating potential bearish trends [1] Group 1: A-Shares with Significant Moving Average Cross - Qiming Information (002232) has a 5-day moving average of 20.42 yuan, down 1.40% from the 10-day moving average of 20.71 yuan, with a current price of 19.70 yuan, which is 4.88% below the 10-day average [1] - Deep Sea (000058) shows a 5-day moving average of 10.11 yuan, down 1.38% from the 10-day average of 10.26 yuan, with a current price of 9.86 yuan, 3.86% below the 10-day average [1] - Dayilong (002209) has a 5-day moving average of 14.42 yuan, down 1.16% from the 10-day average of 14.59 yuan, with a current price of 13.57 yuan, 6.96% below the 10-day average [1] Group 2: Additional A-Shares with Moving Average Cross - Kailong Co. (002783) has a 5-day moving average of 9.91 yuan, down 1.15% from the 10-day average of 10.03 yuan, with a current price of 9.67 yuan, 3.54% below the 10-day average [1] - Blue Communication (688332) shows a 5-day moving average of 144.42 yuan, down 1.11% from the 10-day average of 146.03 yuan, with a current price of 138.03 yuan, 5.48% below the 10-day average [1] - Ocean King (002724) has a 5-day moving average of 7.53 yuan, down 1.10% from the 10-day average of 7.62 yuan, with a current price of 7.11 yuan, 6.67% below the 10-day average [1]

Core Insights - The report highlights the dual drive of domestic demand and military trade in the radar business of Guorui Technology, indicating a potential for sustained performance improvement due to asset restructuring and increasing defense spending [9][11][12] - The photovoltaic industry is undergoing a supply-side reform led by a coalition of 17 companies, aiming to stabilize prices and improve profitability through coordinated production and quality management [14][19] Guorui Technology (600562) Insights - The company is positioned as a leading radar enterprise backed by significant technological resources from the China Electronics Technology Group Corporation, with a focus on radar equipment and related systems [11] - Continuous growth in defense spending and the need for upgraded military equipment are expected to drive revenue from military radar devices [11][12] - The company anticipates a significant increase in military trade business, supported by recent geopolitical conflicts and rising global military expenditures [11][12] - Civilian radar applications are also expected to contribute to revenue growth, particularly in meteorological and air traffic management sectors [11][12] Photovoltaic Industry Insights - The establishment of a joint platform by 17 photovoltaic companies is aimed at addressing supply-side issues, particularly in the polysilicon segment, which is crucial for cost and profit distribution across the industry [14][19] - The "anti-involution" strategy is showing positive results, with prices recovering and profitability improving as companies adhere to a "not below cost sales" policy [19] - The report suggests that the photovoltaic sector is on a path to recovery, with expectations for improved market performance as the supply-side reforms take effect [19] Market and Economic Insights - The Federal Reserve's recent decision to lower interest rates by 25 basis points reflects a cautious approach to economic expansion, with ongoing uncertainties in the job market and inflation levels [10][12] - The report indicates that the economic outlook remains mixed, with potential implications for investment strategies in various sectors, including defense and renewable energy [10][12]

Core Insights - The textile manufacturing sector experienced a decline of 0.66% on October 29, with Nobon Co., Ltd. leading the losses [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Sector Performance - The textile manufacturing sector's individual stock performance showed varied results, with notable gainers including: - Yeguangming (19.88, +3.54%, 13,800 shares, 26.49 million yuan) [1] - Xinlong Holdings (5.67, +2.16%, 283,600 shares, +161 million yuan) [1] - Yunzongma (42.70, +1.69%, 102,800 shares, 454 million yuan) [1] - Conversely, Nobon Co., Ltd. saw a significant drop of 6.45% to 18.13 yuan, with a trading volume of 84,100 shares and a turnover of 153 million yuan [2] Capital Flow - The textile manufacturing sector experienced a net outflow of 112 million yuan from major funds, while retail investors contributed a net inflow of 73.64 million yuan [2] - The capital flow for individual stocks indicated: - Hangmin Co. had a net inflow of 11.17 million yuan from major funds [3] - Xinlong Holdings also saw a net inflow of 10.67 million yuan from major funds [3] - Nobon Co., Ltd. had a minor net inflow of 443,930 yuan from major funds despite its overall decline [3]

Investment Rating - The report maintains a "Buy" rating for Nobon Co., Ltd. (603238) [2] Core Insights - Nobon Co., Ltd. reported strong performance in Q3 2025, with revenue and profit growth continuing in the off-season, indicating robust business momentum [7] - The company is positioned as a leader in high-end differentiated spunlace nonwoven materials, with significant growth potential in its proprietary brand development [7] Financial Data and Profit Forecast - For the first three quarters of 2025, total revenue reached 2.02 billion yuan, representing a year-on-year increase of 29.7%, while net profit attributable to the parent company was 96 million yuan, up 38.3% year-on-year [6][7] - The company expects total revenue of 2.725 billion yuan for 2025, with a projected net profit of 130 million yuan, reflecting a growth rate of 36.9% [6] - The gross margin for Q1-3 2025 was 15.6%, an increase of 0.9 percentage points year-on-year, while the net profit margin was 4.7%, up 0.3 percentage points year-on-year [10] Business Performance - The revenue from the roll materials segment in H1 2025 was 390 million yuan, with a gross margin of 25.8%, despite short-term pressure from U.S. tariffs [7] - The finished products segment generated 930 million yuan in revenue, with a gross margin of 11.7%, indicating strong growth in both contract manufacturing and proprietary brand sales [7] - The company has successfully diversified its market strategy, shifting from reliance on U.S. orders to a broader international presence, including Europe and Southeast Asia [7] Future Outlook - The report maintains profit forecasts for 2025-2027, expecting net profits of 130 million yuan, 157 million yuan, and 189 million yuan respectively, with corresponding P/E ratios of 26, 22, and 18 [6][7]

Core Insights - Nobon Co., Ltd. (603238.SH) reported a total operating revenue of 2.022 billion yuan for Q3 2025, with a net profit attributable to shareholders of 95.9345 million yuan, ranking 11th among disclosed peers [1] Financial Performance - The company's latest asset-liability ratio stands at 46.42%, ranking 14th among disclosed peers, which is an increase of 2.30 percentage points from the previous quarter and 7.60 percentage points from the same period last year [3] - The latest gross profit margin is 15.55%, ranking 13th among disclosed peers, showing a decrease of 0.17 percentage points from the previous quarter [3] - The return on equity (ROE) is reported at 6.65% [3] - The diluted earnings per share (EPS) is 0.54 yuan [3] - The total asset turnover ratio is 0.67 times, while the inventory turnover ratio is 5.62 times, which is a decrease of 0.47 times compared to the same period last year, reflecting a year-on-year decline of 7.69% [3] Shareholder Structure - The number of shareholders is reported at 10,400, with the top ten shareholders holding a total of 132 million shares, accounting for 74.53% of the total share capital [3] - The largest shareholder is Hangzhou Boss Industrial Group Co., Ltd., holding 54.61% of shares [3]

Core Insights - Nobon Co., Ltd. reported a revenue of 681,777,416.16 yuan for the third quarter of 2025, representing a year-on-year growth of 23.18% [2] - The net profit attributable to shareholders of the listed company was 30,606,533.08 yuan, showing a year-on-year increase of 20.92% [2] Financial Performance - The company's revenue for Q3 2025 reached approximately 681.78 million yuan, marking a significant increase compared to the previous year [2] - The net profit for the same period was around 30.61 million yuan, indicating a positive growth trend in profitability [2]

Core Insights - Nobon Co., Ltd. (603238.SH) reported a revenue of 2.022 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 29.74% [1] - The company's net profit attributable to shareholders reached 95.93 million yuan, marking a year-on-year increase of 38.32% [1] - The non-recurring net profit was 92.87 million yuan, showing a year-on-year growth of 48.44% [1] - Basic earnings per share stood at 0.54 yuan [1]

Core Insights - Nobon Co., Ltd. (603238.SH) reported a revenue of 682 million yuan for Q3 2025, representing a year-on-year increase of 23.18% [1] - The net profit attributable to shareholders of the listed company was 30.61 million yuan, up 20.92% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 31.69 million yuan, reflecting a year-on-year increase of 35.43% [1]