Financial Performance - The company's operating revenue for the third quarter was ¥617,907,764.96, representing a year-on-year increase of 4.43%[4] - The total profit for the quarter was ¥41,000,623.23, showing a decrease of 3.46% compared to the same period last year[4] - The net profit attributable to shareholders was ¥15,587,964.62, which is an increase of 26.68% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥14,888,326.42, reflecting a significant increase of 94.17%[4] - Total operating revenue for the first three quarters of 2025 was CNY 1,807,280,638.20, a decrease of 3.67% compared to CNY 1,876,122,232.73 in the same period of 2024[20] - The company reported a net profit of -CNY 4,647,808.88 for the first three quarters of 2025, a significant decline from a net profit of CNY 111,391,120.81 in the same period of 2024[21] - The operating profit for the first three quarters of 2025 was CNY 88,724,893.34, down from CNY 161,746,368.38 in 2024, reflecting operational challenges[21] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥4,395,457,030.83, an increase of 4.17% from the end of the previous year[5] - Total assets as of September 30, 2025, amounted to RMB 4,395,457,030.83, an increase from RMB 4,219,515,694.00 at the end of 2024[16] - Current assets totaled RMB 1,254,105,538.25, up from RMB 1,143,070,562.94 in the previous year, reflecting a growth of approximately 9.73%[16] - Total non-current assets reached RMB 3,141,351,492.58, compared to RMB 3,076,445,131.06, showing a growth of about 2.1%[17] - The total liabilities increased to CNY 2,560,605,792.13 in 2025 from CNY 2,378,198,372.40 in 2024, indicating a rise in financial obligations[18] - Total current liabilities were RMB 1,590,496,693.17, down from RMB 1,734,981,532.20, indicating a decrease of about 8.3%[17] Shareholder Information - The equity attributable to shareholders decreased by 4.54% to ¥1,420,395,569.16 compared to the end of the previous year[5] - The total equity attributable to shareholders decreased to CNY 1,420,395,569.16 in 2025 from CNY 1,487,920,579.80 in 2024, reflecting a decline in shareholder value[18] - Basic earnings per share for the first three quarters of 2025 were -CNY 0.10, compared to CNY 0.14 in 2024, indicating a negative return for shareholders[22] Cash Flow - The cash flow from operating activities for the year-to-date period was ¥56,796,166.25, down 64.72% compared to the previous year[4] - In the first three quarters of 2025, the net cash flow from operating activities was ¥56,796,166.25, a decrease of 64.7% compared to ¥160,995,237.75 in the same period of 2024[24] - Total cash inflow from operating activities was ¥1,770,888,885.60, down 9.5% from ¥1,956,487,566.97 year-on-year[24] - The net cash flow from investing activities was ¥116,018,844.50, a significant improvement from a negative cash flow of -¥58,303,404.01 in the same period last year[25] - Cash inflow from financing activities totaled ¥2,210,874,258.44, an increase of 80.9% compared to ¥1,223,250,000.00 in 2024[25] Operational Challenges and Strategies - The company experienced a significant decline in net profit for the year-to-date period, down 171.15% to -¥45,469,004.88, primarily due to reduced gas operation revenue and provisions for goodwill impairment[10] - The company reported a total of CNY 52,350,919.29 in non-operating expenses in 2025, compared to CNY 1,530,594.02 in 2024, indicating increased financial strain[21] - Research and development expenses increased to CNY 16,173,963.67 in 2025 from CNY 11,497,667.57 in 2024, highlighting a focus on innovation[20] - The company is actively involved in market expansion and new product development, although specific details were not disclosed in the provided content[15] Shareholder Structure - The company has a major shareholder, Water Development Group Co., Ltd., holding 24.35% of shares, with a pledged amount of 98,113,184 shares[12] Accounting Standards - The company did not apply new accounting standards for the first time in 2025[26]

Group 1 - The core viewpoint of the news is that Shunfa Gas has experienced fluctuations in financing activities and a decline in financial performance, indicating potential challenges for the company [1][2]. Group 2 - On October 22, Shunfa Gas's stock price remained unchanged at 0.00%, with a trading volume of 116 million yuan. The financing buy-in amount was 19.15 million yuan, while the financing repayment was 21.43 million yuan, resulting in a net financing outflow of 2.27 million yuan [1]. - As of October 22, the total balance of margin trading for Shunfa Gas was 156 million yuan, accounting for 5.83% of its market capitalization, which is above the 80th percentile of the past year, indicating a high level of financing [1]. - In terms of securities lending, on October 22, Shunfa Gas repaid 100 shares and had a remaining balance of 300 shares, with a total lending balance of 2,097 yuan, which is above the 60th percentile of the past year, also indicating a high level [1]. Group 3 - As of September 10, the number of shareholders of Shunfa Gas was 28,600, a decrease of 5.45% from the previous period. The average circulating shares per person increased by 5.77% to 13,396 shares [2]. - For the first half of 2025, Shunfa Gas reported an operating income of 1.189 billion yuan, a year-on-year decrease of 1.70%. The net profit attributable to the parent company was -61.06 million yuan, a significant year-on-year decrease of 238.90% [2]. Group 4 - Since its A-share listing, Shunfa Gas has distributed a total of 131 million yuan in dividends, with 72.07 million yuan distributed over the past three years [3].

Market Performance - The gas sector increased by 2.93% compared to the previous trading day, with Kaitan Gas leading the gains [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Individual Stock Performance - Kaitan Gas (code: 920010) closed at 15.77, up 10.43% with a trading volume of 250,200 shares and a transaction value of 375 million yuan [1] - Baichuan Energy (code: 600681) closed at 4.57, up 10.12% with a trading volume of 1,213,600 shares [1] - Changchun Gas (code: 600333) closed at 7.98, up 10.07% with a trading volume of 1,189,100 shares [1] - Guo Xin Energy (code: 600617) closed at 4.40, up 10.00% with a trading volume of 2,466,200 shares [1] - Other notable performers include Dazhong Public Utilities (up 9.94%) and Tianhao Energy (up 8.85%) [1] Capital Flow - The gas sector saw a net inflow of 365 million yuan from main funds, while retail investors experienced a net outflow of 290 million yuan [2][3] - Main funds showed significant net inflows in Dazhong Public Utilities (3.09 million yuan) and Guizhou Gas (36.58 million yuan) [3] - Retail investors had notable outflows in several stocks, including Dazhong Public Utilities and Guizhou Gas [3]

Core Points - The Shanghai Composite Index is currently at 3870.35 points, above the annual line, with a decline of 0.49% and a total trading volume of 20,965.31 billion yuan [1] - A total of 67 A-shares have surpassed the annual line today, with notable stocks showing significant deviation rates [1] Summary by Category Stock Performance - Stocks with the highest deviation rates include: - Ainoju (艾能聚) with a deviation rate of 8.12% and a daily increase of 9.39% [1] - LiuGong (柳工) with a deviation rate of 5.44% and a daily increase of 5.69% [1] - Asia Optical (亚世光电) with a deviation rate of 5.10% and a daily increase of 9.99% [1] - Other stocks that have just crossed the annual line include: - Guangzhou Restaurant (广州酒家) and Junzheng Group (君正集团) with smaller deviation rates [1] Trading Data - The trading data for stocks that broke the annual line includes: - Ainoju: Latest price 20.62 yuan, annual line 19.07 yuan, turnover rate 22.19% [1] - LiuGong: Latest price 11.51 yuan, annual line 10.92 yuan, turnover rate 7.78% [1] - Asia Optical: Latest price 23.13 yuan, annual line 22.01 yuan, turnover rate 12.90% [1]

Group 1 - The core point of the article is that Shuidai Gas (603318) has received approval from the Shanghai Stock Exchange for a specific stock issuance aimed at raising funds [2] - The company plans to issue no more than 95.6023 million shares at a price of 5.23 yuan per share, with an expected total fundraising of 500 million yuan [2] - The underwriting institution for this issuance is Zhongtai Securities Co., Ltd. [2]

Core Viewpoint - *ST Tianmao's stock will be delisted from the Shenzhen Stock Exchange, with the decision effective immediately, and the stock will be removed within five trading days [1][2]. Group 1: Delisting Announcement - On September 25, *ST Tianmao received a notice from the Shenzhen Stock Exchange regarding the termination of its stock listing [1]. - The stock will not enter a delisting transition period and will be delisted within five trading days from the announcement [2]. Group 2: Shareholder Meeting and Cash Option - On August 25, *ST Tianmao held an extraordinary general meeting where shareholders approved the decision to voluntarily terminate the stock listing [5]. - The company initiated a cash option mechanism to protect investors, allowing eligible A-share shareholders to exercise cash options at a price of 1.60 yuan per share, with a total of 1,442,279,537 cash options effectively declared during the application period [5]. - The total funding required for the cash options is approximately 2.3 billion yuan [5]. Group 3: Post-Delisting Arrangements - After delisting, *ST Tianmao's shares will be transferred to the National Equities Exchange and Quotations system for trading [6]. - The company has appointed Changcheng Guorui as the agency to manage the share transfer services [6].

Group 1: Strategic Restructuring - Pingmei Shenma and Shenneng Group announced plans for strategic restructuring by the controlling shareholders, which will not significantly impact their operations [1][1] - The restructuring will not change the controlling shareholders or the actual controllers of either company [1][1] Group 2: Capital Increase - Ganfeng Lithium plans to introduce investors for a capital increase of up to 2.5 billion yuan for its subsidiary, Ganfeng Lithium Technology [2] - The capital increase will be priced at 3 yuan per 1 yuan of registered capital, and the company will waive its preferential subscription rights [2] Group 3: Stock Trading Suspension - Upwei New Materials' stock has been suspended for verification due to multiple instances of abnormal trading fluctuations [3] - The company will conduct an investigation into the trading volatility and will resume trading after the verification process [3] Group 4: Earnings Forecast - Jihong Co. expects a net profit of 209 million to 222 million yuan for the first three quarters of 2025, representing a growth of 55% to 65% year-on-year [4] - The growth is attributed to significant increases in revenue and profit from cross-border social e-commerce and improved operational efficiency in the packaging business [4] Group 5: Fundraising and Projects - Hanyu Pharmaceutical plans to raise up to 968 million yuan through a private placement for various projects including peptide drug production and R&D upgrades [5] - Water Development Gas received acceptance for its securities issuance application from the Shanghai Stock Exchange [6] Group 6: Important Transactions - Tianqi Model's controlling shareholders signed a share transfer agreement to transfer 162 million shares, which will change the controlling shareholder to Jianfa Wanyu [7] - The transaction is expected to lead to a change in the actual controller to the Urumqi Economic and Technological Development Zone State-owned Assets Supervision and Administration Commission [7] Group 7: Investment Projects - Dongfang Yuhong signed an investment agreement to invest 600 million yuan in a new materials industry chain project in Nanning, Guangxi [9] - The project includes mining, processing, and product development [9] - Changqing Group plans to invest 571 million yuan in the second phase of its cogeneration project in Maoming [9]

Core Viewpoint - Water Development Gas announced that it received a notice from the Shanghai Stock Exchange regarding the acceptance of its application for issuing securities on the main board, indicating a step forward in its capital raising efforts [1] Group 1 - The company received a notification from the Shanghai Stock Exchange on September 25, 2025, confirming the acceptance of its application for issuing securities [1] - The application documents were found to be complete and in compliance with legal requirements, leading to the decision for acceptance and review by the exchange [1] - The issuance of A-shares to specific investors is subject to approval by the Shanghai Stock Exchange and the China Securities Regulatory Commission, indicating that there is still uncertainty regarding final approval [1]

获得上海证券交易所受理的公告 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。 证券代码：603318 证券简称：水发燃气 公告编号：2025-054 水发派思燃气股份有限公司 关于向特定对象发行 A 股股票申请 公司本次向特定对象发行 A 股股票事项尚需经上交所审核通过，并 获得中国证券监督管理委员会（以下简称"中国证监会"）作出同意注册 的决定后方可实施，最终能否通过上交所审核并获得中国证监会同意注册 的决定尚存在不确定性。公司将根据事项的进展情况，按照相关法律法规 要求及时履行信息披露义务，敬请广大投资者注意投资风险。 特此公告。 水发派思燃气股份有限公司（以下简称"公司"）于 2025 年 9 月 25 日收到上海证券交易所（以下简称"上交所"）出具的《关于受理水发派 思燃气股份有限公司沪市主板上市公司发行证券申请的通知》（上证上审 （再融资）〔2025〕284 号），上交所依据相关规定对公司报送的沪市主板 上市公司发行证券的募集说明书及相关申请文件进行了核对，认为申请文 件齐备，符合法定形式，决定予以受理并依法进行审 ...

水发派思燃气股份有限公司 （注册地址：辽宁省大连经济技术开发区振鹏工业城 73#） 2023 年度向特定对象发行股票 募集说明书 （山东省济南市市中区经七路 86 号） 二〇二五年九月 水发派思燃气股份有限公司 向特定对象发行股票募集说明书 股票简称：水发燃气 证券代码：603318 水发派思燃气股份有限公司 向特定对象发行股票募集说明书 （申报稿） 保荐人（主承销商） 声 明 本公司及全体董事、高级管理人员承诺本募集说明书及其他信息披露资料不 存在任何虚假记载、误导性陈述或重大遗漏，并对其真实性、准确性及完整性承 担相应的法律责任。 本公司负责人、主管会计工作负责人及会计机构负责人保证募集说明书中财 务会计资料真实、完整。 中国证监会、上海证券交易所对本次发行所作的任何决定或意见，均不表明 其对申请文件及所披露信息的真实性、准确性、完整性做出保证，也不表明其对 发行人的盈利能力、投资价值或者对投资者的收益做出实质性判断或保证。任何 与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，证券依法发行后，发行人经营与收益的变化，由发 行人自行负责。投资者自主判断发行人的投资价值，自主作出投资决策，自行承 担证 ...