Core Viewpoint - Yindu Co., Ltd. (603277.SH) reported its Q3 results, showing a slight increase in revenue but a decline in net profit and adjusted net profit [1] Financial Performance - The company achieved a revenue of 2.141 billion yuan in the first three quarters, representing a year-on-year growth of 2.31% [1] - The net profit attributable to shareholders was 467 million yuan, reflecting a year-on-year decrease of 2.57% [1] - The adjusted net profit attributable to shareholders was 366 million yuan, which marked a significant year-on-year decline of 19.86% [1]

重要内容提示： 投资者可于 2025 年 11 月 06 日前访问网址 https://eseb.cn/1sHUzC5016U 或 使用微信扫描下方小程序码进行会前提问，公司将通过本次业绩说明会，在 信息披露允许范围内就投资者普遍关注的问题进行回答。 证券代码：603277 证券简称：银都股份 公告编号：2025-042 银都餐饮设备股份有限公司 关于召开2025年第三季度业绩说明会的公告 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。 一、说明会类型 银都餐饮设备股份有限公司（以下简称"公司"）已于 2025 年 10 月 29 日在 上海证券交易所网站（www.sse.com.cn）披露了《2025 年第三季度报告》。为便 于广大投资者更加全面深入地了解公司经营业绩、发展战略等情况，公司定于 2025 年 11 月 06 日（星期四）15:00-16:00 在"价值在线"（www.ir-online.cn）举 办银都餐饮设备股份有限公司 2025 年第三季度业绩说明会，与投资者进行沟通 和交流，广泛听取投资者的意见和建议。 ...

Financial Performance - The company's operating revenue for the third quarter was ¥714,564,975.62, a decrease of 1.54% compared to the same period last year[4] - The total profit for the quarter was ¥142,429,012.93, reflecting a decline of 11.55% year-over-year[4] - The net profit attributable to shareholders was ¥120,314,671.14, down 9.28% from the previous year[4] - The basic earnings per share for the quarter was ¥0.20, a decrease of 35.48% compared to the same period last year[5] - Net profit for the first three quarters of 2025 was ¥466,963,376.53, a decrease of 2.4% from ¥479,257,933.66 in the previous year[21] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.77, down from ¥1.14 in the same period of 2024[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,681,250,293.39, an increase of 10.78% from the end of the previous year[5] - Total current assets as of September 30, 2025, amount to ¥3,103,952,609.42, an increase from ¥2,640,627,177.49 in the previous year[15] - Total liabilities as of September 30, 2025, are ¥1,835,425,921.31, up from ¥1,437,150,573.58[16] - The company's total assets reached ¥4,681,250,293.39, compared to ¥4,225,736,176.34 in the previous year[15] - The total liabilities and equity reached ¥4,681,250,293.39, up from ¥4,225,736,176.34, indicating a growth of 10.8%[20] Shareholder Information - Total number of common shareholders at the end of the reporting period is 11,257[12] - The largest shareholder, Zhou Junjie, holds 305,839,800 shares, representing 49.84% of the total shares[12] - The total equity attributable to shareholders of the parent company increased to ¥2,845,824,372.08 from ¥2,788,585,602.76, reflecting a growth of 2.0%[20] Cash Flow - The cash flow from operating activities for the year-to-date was ¥339,562,118.30, a decrease of 28.41% compared to the previous year[5] - The net cash flow from operating activities was 339,562,118.30, a decrease of 28.4% compared to 474,334,336.98 in the previous period[25] - The net cash flow from investing activities was -824,564,691.11, worsening from -190,136,819.76 in the previous period[25] - The net cash flow from financing activities was -109,374,722.14, an improvement from -326,999,088.98 in the previous period[27] - The total cash and cash equivalents at the end of the period was 641,812,622.37, down from 1,352,982,874.37 at the beginning of the period[27] Operating Costs and Expenses - Total operating costs increased to ¥1,696,311,008.92, up 9.6% from ¥1,548,444,210.49 year-over-year[20] - Research and development expenses rose to ¥62,957,869.35, representing a 50.3% increase from ¥41,867,435.66 in the same period last year[20] Other Financial Metrics - The weighted average return on equity was 4.12%, a decrease of 0.57 percentage points compared to the previous year[5] - The company reported non-recurring gains and losses totaling ¥15,787,700.19 for the current period[8] - Other comprehensive income after tax decreased to ¥4,432,527.31 from ¥15,557,092.03, a decline of 71.5%[21] - The cash inflow from operating activities totaled ¥2,211,019,143.26, slightly down from ¥2,221,068,350.39 in the previous year[24] - The cash inflow from investment activities was 1,032,577,859.16, significantly higher than 71,195,910.07 in the previous period[25] - The cash outflow from investment activities was 1,857,142,550.27, compared to 261,332,729.83 in the previous period[25] - The company paid 215,083,130.97 in dividends and interest, a decrease from 423,982,287.57 in the previous period[27]

Core Points - The company announced a cash dividend distribution of 0.35 CNY per share for the first half of 2025, totaling approximately 214.79 million CNY [2][4] - The dividend distribution plan was approved at the annual shareholders' meeting held on May 19, 2025 [2] - The distribution will be made to all shareholders registered with the China Securities Depository and Clearing Corporation Limited Shanghai Branch as of the close of trading on the registration date [3] Distribution Plan - The total share capital before the distribution is 613,699,305 shares, with a total cash dividend of 214,794,756.75 CNY to be distributed [4] - The distribution will be executed through the China Securities Depository and Clearing Corporation, with shareholders able to receive their dividends at their designated securities firms on the payment date [5] Taxation Details - For individual shareholders holding unrestricted shares for over one year, the dividend income is exempt from personal income tax, resulting in a net dividend of 0.35 CNY per share [10] - For shares held for one year or less, the tax will be calculated upon transfer, with a potential tax burden of 20% for shares held for one month or less [10] - For qualified foreign institutional investors (QFII), a 10% withholding tax will apply, resulting in a net dividend of 0.315 CNY per share [11] Corporate Changes - The company completed the registration of changes to its business license and articles of association, including the cancellation of the supervisory board and changes to registered capital [15][16] - The new registered capital is approximately 616.16 million CNY, and the company operates under the name "Yindu Catering Equipment Co., Ltd." [16]

证券代码：603277 证券简称：银都股份 公告编号：2025-041 银都餐饮设备股份有限公司（以下简称"公司"）于2025年08月22日、2025 年9月10日召开第五届董事会第十三次会议决议、2025年第一次临时股东大会， 审议通过了《关于取消监事会及修订公司章程并办理工商变更登记的议案》及《关 于变更注册资本及修订公司章程并办理工商变更登记的议案》。 具体详见公司于2025年08月26日在上海证券交易所网站（www.sse.com.cn） 披露的《银都餐饮设备股份有限公司关于取消监事会、变更注册资本及修订<公 司章程>并办理工商变更登记的公告》（编号：2025-033）。 公司于2025年9月10日召开第五届董事会第十四次会议，审议通过了《关于 选举代表公司执行公司事务董事的议案》《关于确认审计委员会成员及召集人的 议案》。 具体详见公司于2025年09月12日在上海证券交易所网站（www.sse.com.cn） 披露的《银都餐饮设备股份有限公司第五届董事会第十四次会议决议公告》（编 号：2025-038）。 二、工商变更完成情况 截止到本公告日，公司完成了上述《章程》修订、变更注册资本等事项的工 商 ...

重要内容提示： 每股分配比例 A 股每股现金红利0.35元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/10/17 | － | 2025/10/20 | 2025/10/20 | 证券代码：603277 证券简称：银都股份 公告编号：2025-040 银都餐饮设备股份有限公司 2025年半年度权益分派实施公告 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。 差异化分红送转： 否 一、 通过分配方案的股东会届次和日期 本次利润分配方案经公司2025 年 5 月 19 日的2024年年度股东会审议通过。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 分配方案： 本次利润分配以方案实施前的公司总股本613,699,305股为基数，每股派发现金红利0.35 元（含税），共计派发 ...

Core Viewpoint - Atosa USA, a subsidiary of Yindu Co., has been awarded the International Dairy Queen's Best Equipment Supplier Award for 2025, recognizing its exceptional support and resources provided to the DQ system over the past year [1] Group 1: Financial Performance - In the first half of 2025, the company achieved revenue of 1.426 billion yuan, a year-on-year increase of 4.35%, with a net profit attributable to shareholders of 347 million yuan, remaining flat year-on-year [2] - Revenue from commercial refrigeration equipment reached 1.088 billion yuan, up 7.38% year-on-year, with a gross margin of 44.39%, down 4.27 percentage points [2] - Self-service equipment revenue was 52 million yuan, down 27.84% year-on-year, with a gross margin of 36.10%, up 1.96 percentage points [2] - Western kitchen equipment revenue was 247 million yuan, up 15.16% year-on-year, with a gross margin of 40.09%, down 4.28 percentage points [2] - Revenue from maintenance parts was 23 million yuan, up 16.14% year-on-year, with a gross margin of 46.34%, down 21.87 percentage points [2] - Kitchen engineering equipment revenue was 4 million yuan, up 14.46% year-on-year, with a gross margin of 10.24%, down 10.54 percentage points [2] Group 2: Production Capacity and Strategy - The company's production base in Thailand has completed the main construction and is entering the capacity ramp-up phase, with initial production meeting expectations [2] - The company has identified "equipment intelligence" as a key strategic direction, focusing on integrating automation and intelligence into its product development [3] - The company is actively recruiting high-end technical talent to enhance innovation in the fields of equipment intelligence and automation [3] Group 3: Short-term Challenges and Outlook - The company's gross margin for the first half of 2025 was 43.1%, down 3.4 percentage points, with a sales expense ratio of 14.9%, up 1.8 percentage points [3] - Short-term profitability has been impacted by tariff disturbances, but improvements are expected as tariff policies are implemented and overseas production capacity increases [3] - Profit forecasts for 2025-2027 are estimated at 610 million, 698 million, and 785 million yuan respectively, maintaining a "recommended" rating [4]

Investment Rating - The report assigns an "Overweight" rating for the machinery industry [4]. Core Insights - The machinery industry maintains high prosperity, with both domestic sales and exports experiencing rapid growth. Companies with global manufacturing layouts, brand output capabilities, and channel integration advantages are recommended for investment. In the context of changing external environments and policy negotiations, companies with diversified capacity allocation, stable customer loyalty, and pricing power are expected to achieve sustained growth amid global trade adjustments. Key recommended stocks include Juxing Technology, Yindu Co., Taotao Vehicle, Honghua Digital Technology, and Jack Co. [5][20]. Summary by Sections Macroeconomic Overview - The Federal Reserve announced a 25 basis point rate cut, bringing the federal funds rate target range to 4.00%-4.25%. In August, the US CPI increased by 2.9% year-on-year, with a core CPI rise of 3.1%. Non-farm employment added 22,000 jobs [5]. Cost Tracking - As of September 17, 2025, the USD to RMB exchange rate was 7.11, a decrease of 0.23% from September 10. The Euro to RMB exchange rate was 8.41, an increase of 0.93% from September 10. The shipping costs for major routes showed a year-on-year decline, with the comprehensive index of China's export container freight rate index (CCFI) at 1125.30, down 38.11% year-on-year [5]. Industry High-Frequency Data Tracking - The report includes various industry metrics, such as the US restaurant performance index (RPI) and housing market index, indicating trends in consumer behavior and real estate activity. For instance, the US housing market index in September showed a year-on-year decline of 21.95% [5]. Company Earnings Forecast - The report provides earnings forecasts for key companies in the machinery sector, projecting EPS growth for the years 2025 to 2027, with corresponding PE ratios indicating potential for investment [20].

Group 1 - The core viewpoint of the news is that Yindu Co., Ltd. has seen a significant stock price increase of 5.65%, reaching 19.45 CNY per share, with a total market capitalization of 11.936 billion CNY as of the report date [1] - Yindu Co., Ltd. specializes in the research, production, sales, and service of commercial catering equipment, with its main business revenue composition being 76.50% from commercial refrigeration equipment, 17.37% from Western kitchen equipment, and 3.63% from self-service equipment [1] - The company is located in Hangzhou, Zhejiang Province, and was established on April 10, 2003, with its listing date on September 11, 2017 [1] Group 2 - In terms of fund holdings, Invesco Great Wall Fund has a significant position in Yindu Co., Ltd., with its Core Competitiveness Mixed A Fund (260116) increasing its holdings by 1.1 million shares in the second quarter, bringing the total to 2.9 million shares, which constitutes 3.46% of the fund's net value [2] - The fund has achieved a year-to-date return of 15.91% and a one-year return of 25.07%, ranking 4936 out of 8244 and 5584 out of 8066 in its category, respectively [2] - The fund manager, Yu Guang, has a tenure of 15 years and 121 days, with the fund's total asset size being 8.481 billion CNY [3]

Group 1 - The company, Yindu Co., announced the election of Ms. Zhang Yanjie as the employee representative director of the fifth board of directors during the employee representative meeting held on September 10, 2025 [1]