Core Insights - Xusheng Group is a leading manufacturer of precision aluminum alloy components in China, established in 2003 and listed on the Shanghai Stock Exchange in 2017, with a focus on automotive lightweight solutions [1] Financial Performance - For Q3 2025, Xusheng Group reported revenue of 3.226 billion yuan, ranking 20th among 103 peers, below the industry average of 3.82 billion yuan but above the median of 1.381 billion yuan [2] - The company's net profit for the same period was 300 million yuan, ranking 16th in the industry, lower than the top two competitors but above the industry average of 275 million yuan [2] Profitability and Debt - As of Q3 2025, the company's debt-to-asset ratio was 47.33%, down from 50.78% year-on-year but still above the industry average of 39.06% [3] - The gross profit margin for the period was 21.66%, slightly higher than the industry average of 21.53% [3] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 8.71% to 54,600, while the average number of shares held per shareholder increased by 12.45% [5] Strategic Developments - In H1 2025, total revenue was 2.096 billion yuan, a year-on-year decrease of 2.47%, with net profit down 24.22% [6] - The company is focusing on growth in the energy storage and robotics sectors, with significant projects underway in Mexico and Thailand [6]

Core Viewpoint - The company reported a slight increase in revenue and a significant rise in net profit for the third quarter of 2025, indicating strong financial performance despite modest revenue growth [1] Financial Performance - The company's operating revenue for Q3 2025 was 1.13 billion yuan, representing a year-on-year increase of 0.41% [1] - The net profit attributable to shareholders was 99.21 million yuan, showing a substantial year-on-year increase of 70.43% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 90.66 million yuan, reflecting a significant year-on-year increase of 96.36% [1]

| 证券代码：603305 | 证券简称：旭升集团 | | 公告编号：2025-073 | | --- | --- | --- | --- | | 债券代码：113685 | 债券简称：升 24 | 转债 | | 宁波旭升集团股份有限公司 关于实施"升 24 转债"赎回暨摘牌的 第五次提示性公告 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个别及连带责任。 重要内容提示： 截至 2025 年 10 月 30 日收市后，距离 11 月 10 日（"升 24 转债"最后交易 日）仅剩 7 个交易日，11 月 10 日为"升 24 转债"最后一个交易日。 最后转股日：2025 年 11 月 13 日 截至 2025 年 10 月 30 日收市后，距离 11 月 13 日（"升 24 转债"最后转股 日）仅剩 10 个交易日，11 月 13 日为"升 24 转债"最后一个转股日。 宁波旭升集团股份有限公司（以下简称"公司"）股票自 2025 年 9 月 16 日 至 2025 年 10 月 15 日，已有十五个交易日的收盘价格不低于"升 24 ...

Financial Performance - The company's operating revenue for the third quarter was CNY 1,129,711,744.61, representing a year-on-year increase of 0.41%[5] - Net profit attributable to shareholders for the quarter was CNY 99,213,180.27, a significant increase of 70.43% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 90,659,687.21, up 96.36% year-on-year[5] - Basic earnings per share for the quarter were CNY 0.10, reflecting a rise of 42.86% year-on-year[6] - Net profit for the first three quarters of 2025 was CNY 299,568,626.25, a decline of 6.4% from CNY 320,182,769.86 in the previous year[22] - The company's basic and diluted earnings per share for the first three quarters of 2025 were both CNY 0.31, compared to CNY 0.35 in the same period of 2024[22] - The company recorded a total comprehensive income of CNY 339,883,797.48 for the first three quarters of 2025, compared to CNY 304,168,951.91 in 2024, marking an increase of 11.8%[22] Cash Flow - The net cash flow from operating activities for the quarter was CNY 271,062,779.18, an increase of 201.30% compared to the previous year[5] - The company experienced a decline of 31.69% in net cash flow from operating activities for the year-to-date period, primarily due to reduced cash receipts from sales[11] - Cash inflow from operating activities for the first three quarters of 2025 was approximately $3.57 billion, a decrease of 5.2% compared to $3.77 billion in the same period of 2024[24] - Net cash flow from operating activities decreased to approximately $571.69 million in 2025, down 31.7% from $836.90 million in 2024[24] - Total cash outflow from operating activities was approximately $3.00 billion in 2025, an increase of 2.4% from $2.93 billion in 2024[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 13,358,574,053.97, a decrease of 4.50% from the end of the previous year[6] - Total current assets decreased to ¥5,744,467,817.18 from ¥6,604,881,966.78 year-over-year[16] - Total liabilities decreased to CNY 6,323,123,302.02 in 2025 from CNY 7,350,999,657.73 in 2024, indicating a reduction of approximately 13.9%[18] - Total equity increased to CNY 7,035,450,751.95 in 2025 from CNY 6,637,638,866.05 in 2024, representing an increase of about 6.0%[18] Shareholder Information - Total number of common shareholders at the end of the reporting period is 54,638[13] - The largest shareholder, Ningbo Meishan Bonded Port Area Xusheng Holdings, holds 254,766,935 shares, accounting for 26.03% of total shares[14] - The second largest shareholder, Hong Kong Sunrise Industrial Co., Ltd., holds 191,773,686 shares, representing 19.60%[14] Non-Recurring Gains and Expenses - The company reported non-recurring gains of CNY 8,553,493.06 for the quarter, with government subsidies contributing CNY 6,965,755.12[8] - The decrease in inventory impairment losses contributed to the increase in net profit and earnings per share[10] - The company reported a financial expense of CNY 29,177,280.82, which is slightly higher than CNY 29,016,112.52 in the previous year[21] - Research and development expenses for the first three quarters of 2025 were CNY 160,718,535.07, up from CNY 154,581,430.50 in 2024, indicating an increase of 4.3%[21] Cash and Investment Activities - The company’s cash and cash equivalents decreased to ¥2,181,010,609.54 from ¥2,920,677,942.63 year-over-year[16] - Cash inflow from investment activities totaled approximately $1.39 billion in 2025, significantly higher than $171.66 thousand in 2024[25] - Net cash flow from investment activities was negative at approximately -$505.50 million in 2025, an improvement from -$1.51 billion in 2024[25] - Cash inflow from financing activities decreased to approximately $2.08 billion in 2025, down 58.2% from $4.98 billion in 2024[25] - Net cash flow from financing activities was negative at approximately -$853.21 million in 2025, compared to a positive $3.01 billion in 2024[25] - The ending cash and cash equivalents balance for the first three quarters of 2025 was approximately $2.18 billion, a decrease of 48.9% from $4.27 billion in 2024[25] - The company received approximately $63.07 million in tax refunds in 2025, an increase of 113.5% from $29.50 million in 2024[24]

| 证券代码：603305 | 证券简称：旭升集团 | | 公告编号：2025-072 | | --- | --- | --- | --- | | 债券代码：113685 | 债券简称：升 24 | 转债 | | 宁波旭升集团股份有限公司 关于实施"升 24 转债"赎回暨摘牌的 第四次提示性公告 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个别及连带责任。 重要内容提示： 赎回登记日：2025 年 11 月 13 日 赎回价格：100.1677 元/张 赎回款发放日：2025 年 11 月 14 日 最后交易日：2025 年 11 月 10 日 截至 2025 年 10 月 29 日收市后，距离 11 月 10 日（"升 24 转债"最后交易 日）仅剩 8 个交易日，11 月 10 日为"升 24 转债"最后一个交易日。 最后转股日：2025 年 11 月 13 日 截至 2025 年 10 月 29 日收市后，距离 11 月 13 日（"升 24 转债"最后转股 日）仅剩 11 个交易日，11 月 13 日为"升 24 转债"最后一 ...

Core Viewpoint - On October 28, Xusheng Group announced that investors holding the "Sheng 24 Convertible Bond" can either continue trading in the secondary market within the specified time or convert at a price of 12.51 CNY per share. If forced redemption occurs, investors may face significant losses [1] Summary by Relevant Sections - **Convertible Bond Trading Options** - Investors can trade the "Sheng 24 Convertible Bond" in the secondary market or convert it at a price of 12.51 CNY per share [1] - **Forced Redemption Details** - If investors do not take action, they will be forced to redeem the bonds at a face value of 100 CNY per bond plus accrued interest of 0.1677 CNY per bond, totaling 100.1677 CNY per bond [1] - **Potential Investment Losses** - The possibility of forced redemption may lead to substantial investment losses for bondholders [1]

| 证券代码：603305 | 证券简称：旭升集团 | | 公告编号：2025-071 | | --- | --- | --- | --- | | 债券代码：113685 | 债券简称：升 24 | 转债 | | 宁波旭升集团股份有限公司 关于实施"升 24 转债"赎回暨摘牌的 第三次提示性公告 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个别及连带责任。 重要内容提示： 截至 2025 年 10 月 28 日收市后，距离 11 月 13 日（"升 24 转债"最后转股 日）仅剩 12 个交易日，11 月 13 日为"升 24 转债"最后一个转股日。 宁波旭升集团股份有限公司（以下简称"公司"）股票自 2025 年 9 月 16 日 至 2025 年 10 月 15 日，已有十五个交易日的收盘价格不低于"升 24 转债"当期 赎回登记日：2025 年 11 月 13 日 赎回价格：100.1677 元/张 赎回款发放日：2025 年 11 月 14 日 最后交易日：2025 年 11 月 10 日 本次提前赎回完成后，"升 24 转债 ...

Core Viewpoint - As of October 28, 2023, Xusheng Group's stock price has experienced fluctuations, with a current price of 14.74 CNY per share, reflecting a year-to-date increase of 15.43% but a recent decline in the last five and twenty trading days [1][2]. Financial Performance - For the first half of 2025, Xusheng Group reported a revenue of 2.096 billion CNY, a year-on-year decrease of 2.47%, and a net profit attributable to shareholders of 201 million CNY, down 24.22% compared to the previous year [2]. - The company has distributed a total of 1.002 billion CNY in dividends since its A-share listing, with 657 million CNY distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders for Xusheng Group increased to 59,900, with an average of 15,927 shares held per shareholder, a decrease of 5.66% from the previous period [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 13.8746 million shares, a decrease of 2.1424 million shares from the previous period, and Southern CSI 1000 ETF, a new shareholder with 4.3898 million shares [3]. Business Overview - Xusheng Group, established on August 25, 2003, and listed on July 10, 2017, is located in Ningbo, Zhejiang Province. The company specializes in the research, production, and sales of precision aluminum alloy components, focusing on lightweight solutions for the automotive industry [1]. - The revenue composition of Xusheng Group is primarily from automotive-related products (81.35%), followed by other categories (14.23%), industrial (1.99%), molds (1.49%), and other supplementary products (0.94%) [1]. Market Activity - The stock has seen a trading volume of 393 million CNY with a turnover rate of 2.55%, and there has been a net outflow of 12.44 million CNY in principal funds [1]. - The company has appeared on the "Dragon and Tiger List" once this year, with the last occurrence on January 10 [1]. Industry Classification - Xusheng Group is classified under the automotive industry, specifically in the automotive parts sector, focusing on chassis and engine systems. It is associated with concepts such as humanoid robots, automotive parts, and thermal management in vehicles [2].

Core Insights - As of October 27, a total of 119 stocks in the Shanghai and Shenzhen markets have experienced net financing inflows for five consecutive days or more [1] - The stocks with the longest streak of net financing inflows are Zhongxin Bo and Jifeng Co., both achieving this for ten consecutive trading days [1] - Other notable stocks with significant net financing inflows include Shenzhou Taiyue, Zhongxin Heavy Industry, Daimai Co., Huaten Technology, Xusheng Group, New Industry, Dazhu CNC, and Meinuohua [1]

Core Points - The announcement from Xusheng Group indicates that the last conversion date for the "Sheng 24 Convertible Bond" is November 13, 2025, with only 13 trading days remaining until this date [1] - After the early redemption, the "Sheng 24 Convertible Bond" will be delisted from the Shanghai Stock Exchange starting November 14, 2025 [1] - Investors holding the "Sheng 24 Convertible Bond" can either trade in the secondary market within the specified timeframe or convert at a price of 12.51 CNY per share, otherwise, they will face a forced redemption at a price of 100 CNY per bond plus accrued interest of 0.1677 CNY per bond, totaling 100.1677 CNY per bond [1] - The company warns that forced redemption may lead to significant investment losses for bondholders [1]