证券代码：603277 证券简称：银都股份 公告编号：2025-043 银都餐饮设备股份有限公司 关于开展期货和衍生品交易的公告 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： 本事项已经公司第五届董事会审计委员会第十次会议、第五届董事会第十六次会议审议通过，该事项不 涉及关联交易，且在董事会审议权限范围内，无需提交股东会审议。 ● 特别风险提示 公司开展套期保值业务，以合法、谨慎、安全和有效为原则，不以套利、投机为目的，所有交易行为均 以正常生产经营为基础，但仍可能存在市场风险、政策风险、交割风险、技术风险和操作风险等正常交 易风险。敬请广大投资者充分关注投资风险。 公司主要从事商用餐饮设备的研发、生产、销售以及货物进出口业务，由于全球经济不确定性加剧，公 司常规采购消耗的部分原材料包括但不限于不锈钢、铜、能化类（异氰酸酯等）原料以及进出口涉及的 海运费价格呈现较大波动，为了减少原材料价格及海运费波动对生产经营的影响，公司拟对部分原材料 和海运费进行套期保值。 公司套期保值业务拟使用的期货及衍生品合约主要包括 ...

证券代码：603277 证券简称：银都股份 公告编号：2025-043 银都餐饮设备股份有限公司 关于开展期货和衍生品交易的公告 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： 交易主要情况 | | □获取投资收益 | | --- | --- | | 交易目的 数） | ☑套期保值（合约类别：☑商品；□外汇；☑其他：集运指 | | | □其他：________ | | 交易品种 | 不锈钢、铜、能化类等商品品种以及集运指数等指数类品种 | | | （仅限于与公司主营业务经营相关的交易品种）。 | | 交易金额 | 预计动用的交易保证金和权利金 10,000 上限（单位：万元） | | | 预计任一交易日持有的最高合约 100,000 价值（单位：万元） | | 资金来源 ☑自有资金 | □借贷资金 □其他：___ | | 交易期限 | 2025年12月5日至2026年12月4日 | 已履行及拟履行的审议程序 本事项已经公司第五届董事会审计委员会第十次会议、第五届董事会第十六 次会议审议通过，该事项不涉及关联交易 ...

Group 1 - Zhejiang Fu Holdings stated that its subsidiary, Zhejiang Fu Capital, has invested in several listed companies including Spring Autumn Electronics, Fenglong Co., Ltd., Shangluo Electronics, Zhejiang Liming, Heshun Technology, Taotao Automotive, and Zhongxin Co., Ltd. [1] - The company also mentioned that multiple enterprises are either in the process of applying for or preparing to apply for listing [1]

Group 1 - The mechanical industry showed a strong performance in 2025, with a cumulative increase of 35.07%, outperforming the Shanghai and Shenzhen 300 index (17.94%) and the Shanghai Composite Index (17.99%) [1][17][21] - Emerging sectors such as AI equipment (140%), lithium battery equipment (96%), humanoid robots (67%), and engineering machinery (55%) led the gains in the mechanical industry, indicating significant investment opportunities [1][27][25] - The outlook for 2026 suggests continued growth in AI and technology sectors, with engineering machinery expected to maintain an upward trend and domestic demand gradually recovering from the bottom [1][30][39] Group 2 - Domestic economic conditions are currently experiencing a "weak recovery" phase, with fixed asset investment showing a differentiated pattern: manufacturing > infrastructure > real estate [2][30] - The general manufacturing sector is expected to enter a new investment cycle, driven by improved PPI and inventory levels, with a focus on high-end upgrades and stock replacement [39][46] - The export sector is benefiting from the competitive strength of leading Chinese companies, with a notable increase in orders for high-end machinery from Japan, reflecting the active investment in domestic high-end manufacturing [55][56] Group 3 - The AI-driven technology sector is expected to continue its upward trend, with hardware demand and new process iterations accelerating, particularly in AI PCB technology and humanoid robots [3][30][61] - Solid-state battery technology is at a critical juncture, with leading battery companies expanding production capacity, indicating a significant opportunity for battery equipment manufacturers [3][30][61] - Investment recommendations include focusing on technology growth assets such as AI PCB equipment, humanoid robots, and solid-state battery equipment, as well as engineering machinery and general automation sectors [4][61]

Core Viewpoint - As of November 13, a total of 124 stocks in the Shanghai and Shenzhen markets have experienced net buying from major funds for five consecutive days or more, indicating strong investor interest in these stocks [1] Group 1: Stocks with Significant Net Buying - The stock with the longest consecutive net buying days is Beijing Bank, which has seen net buying for 13 consecutive trading days [1] - Other notable stocks with significant net buying days include Xidi Micro, CITIC Bank, Dingyang Technology, Yindu Co., Galaxy Microelectronics, Xingyu Co., Shihua Technology, and Xinke Mobile [1]

Market Overview - The street vendor economy sector experienced a decline of 0.55% compared to the previous trading day, with Jihong Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] Stock Performance - Notable gainers in the street vendor economy sector included: - ST Xuefa (code: 002485) with a closing price of 4.27, up 4.91% on a trading volume of 28,100 shares and a transaction value of 11.9763 million [1] - Longkui General (code: 603766) with a closing price of 14.22, up 4.48% on a trading volume of 449,500 shares [1] - Major decliners included: - Jihong Co., Ltd. (code: 002803) with a closing price of 18.05, down 3.11% on a trading volume of 176,700 shares and a transaction value of 319 million [2] - Camel Group (code: 601311) with a closing price of 9.96, down 2.35% on a trading volume of 570,200 shares [2] Capital Flow - The street vendor economy sector saw a net outflow of 968 million from institutional investors, while retail investors contributed a net inflow of 560 million [2] - The capital flow for specific stocks indicated: - Qianli Technology (code: 601777) had a net inflow of 43.8291 million from institutional investors, but a net outflow of 92.4420 million from retail investors [3] - Guoen Co., Ltd. (code: 002768) experienced a net inflow of 19.6205 million from institutional investors, with a net outflow of 25.5515 million from retail investors [3]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [2] Core Views - The company achieved a revenue of 2.141 billion yuan in the first three quarters of 2025, representing a year-on-year growth of 2.31%. However, the net profit attributable to shareholders decreased by 2.57% to 467 million yuan, with a non-recurring net profit of 366 million yuan, down 19.86% year-on-year [7] - The company is facing short-term pressure on profit margins due to tariff policies, with a gross margin of 41.05% in Q3 2025, a slight increase of 0.16 percentage points quarter-on-quarter, while the net profit margin decreased by 1.24 percentage points [7] - The company is advancing its globalization strategy, having established 19 self-owned warehouses and 22 agency warehouses as part of its "85 Country Plan" [7] - The company is expected to achieve net profits of 548 million yuan, 633 million yuan, and 726 million yuan for 2025, 2026, and 2027 respectively, with corresponding PE ratios of 21, 18, and 16 times [7] Financial Performance Summary - Revenue forecast for 2023A is 2,653 million yuan, with a growth rate of -0.4%, and is expected to reach 2,906 million yuan in 2025E, with a growth rate of 5.6% [6][8] - The net profit for 2023A is projected at 511 million yuan, with a growth rate of 13.5%, and is expected to be 548 million yuan in 2025E, with a growth rate of 1.3% [6][8] - The company's EPS is forecasted to be 1.22 yuan for 2023A, decreasing to 0.89 yuan in 2025E, before rising to 1.18 yuan in 2027E [6][8] - The company's ROE is expected to be 18.1% in 2023A, decreasing to 17.6% in 2025E, and then increasing to 18.4% in 2027E [6][8]

Core Viewpoint - The company, Yindu Catering Equipment Co., Ltd., emphasizes the accuracy and completeness of its quarterly report, ensuring no false statements or omissions exist, and holds legal responsibility for the report's content [1][6]. Financial Data - The third-quarter financial statements are not audited [2]. - The report period refers to the three months from the beginning to the end of the quarter [2]. Non-Recurring Gains and Losses - There are no applicable non-recurring gains and losses reported [3]. Shareholder Information - The report includes details on the total number of common shareholders and the top ten shareholders, but specific data is not provided [4][5]. Other Important Reminders - There are no additional important reminders regarding the company's operational situation during the reporting period [6]. Quarterly Financial Reports - The financial statements, including the consolidated balance sheet and profit and cash flow statements, are prepared but not audited [6]. Earnings Presentation Announcement - The company will hold a third-quarter earnings presentation on November 6, 2025, to communicate with investors and address their concerns [8][9]. Meeting Details - The earnings presentation will take place online, allowing investors to participate and submit questions beforehand [10].

Core Insights - The company reported a revenue of 2.141 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 2.31% [1] - The net profit attributable to shareholders was 467 million yuan, showing a year-on-year decline of 2.57% [1] - The net profit excluding non-recurring items was 366 million yuan, reflecting a significant year-on-year decrease of 19.86% [1] - The basic earnings per share stood at 0.77 yuan [1]

Core Insights - The company reported a revenue of 2,140,821,483.65 yuan for the first three quarters of 2025, representing a year-on-year growth of 2.31% [2] - The net profit attributable to shareholders of the listed company was 466,963,376.53 yuan, showing a year-on-year decline of 2.57% [2] Financial Performance - Revenue for the first three quarters of 2025: 2,140.82 million yuan, up 2.31% year-on-year [2] - Net profit for the same period: 466.96 million yuan, down 2.57% year-on-year [2]