Core Insights - The electric motor sector experienced a rise of 0.84% on the previous trading day, with Bafang Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Stock Performance - Bafang Co., Ltd. (603489) closed at 27.96, with a significant increase of 9.99% and a trading volume of 89,300 shares, amounting to a transaction value of 246 million yuan [1] - Kangping Technology (300907) saw a rise of 7.42%, closing at 35.75, with a trading volume of 64,700 shares and a transaction value of 230 million yuan [1] - Other notable performers include: - Fangzheng Electric (002196): closed at 11.33, up 3.66%, with a trading volume of 1.5681 million shares and a transaction value of 1.765 billion yuan [1] - Sanxie Electric (920100): closed at 74.34, up 3.12%, with a trading volume of 27,200 shares and a transaction value of 202 million yuan [1] - Zhongdian Electric (603988): closed at 27.60, up 3.06%, with a trading volume of 119,000 shares and a transaction value of 329 million yuan [1] Fund Flow Analysis - The electric motor sector saw a net outflow of 636 million yuan from main funds, while retail investors contributed a net inflow of 641 million yuan [3]

Core Viewpoint - The A-share market shows a mixed performance with the Shanghai Composite Index at 3966.25 points, slightly down by 0.52%, while a total trading volume of 1,158.735 billion yuan has been recorded, indicating active market participation [1]. Group 1: Market Performance - The Shanghai Composite Index is currently above the annual line, reflecting a stable market condition despite a minor decline [1]. - A total of 129 A-shares have surpassed the annual line today, indicating a positive trend for many stocks [1]. Group 2: Individual Stock Performance - Notable stocks with significant deviation rates above the annual line include: - Zhong An Ke (600654) with a deviation rate of 7.81% and a daily increase of 9.88% [1]. - Ba Fang Shares (603489) with a deviation rate of 7.55% and a daily increase of 9.99% [1]. - Zejing Pharmaceutical (688266) with a deviation rate of 6.52% and a daily increase of 9.76% [1]. - Stocks with smaller deviation rates that have just crossed the annual line include ST Xiangxue, Keli'er, and Nanda Environment, indicating a cautious recovery [1].

Core Insights - The company Baifang Co., Ltd. (八方股份) reported its Q3 financial results for 2025, showing a total operating revenue of 1.034 billion yuan, representing a year-on-year growth of 2.14% [1] - The net profit attributable to shareholders of the parent company reached 66.8996 million yuan, reflecting a significant year-on-year increase of 30.52% [1] - The basic earnings per share (EPS) stood at 0.28 yuan [1]

Core Viewpoint - Bafang Electric's Q3 2025 report shows a modest revenue growth of 2.14% year-on-year, with a significant increase in net profit by 30.52%, indicating strong operational performance despite a challenging market environment [1][2]. Financial Performance - The company's revenue for the first three quarters of 2025 reached 1.034 billion yuan, with a net profit attributable to shareholders of 66.90 million yuan [1]. - The basic earnings per share (EPS) stood at 0.28 yuan, with a weighted average return on equity (ROE) of 2.50% [2]. - In Q3 2025, the gross margin was 21.59%, up by 2.76 percentage points year-on-year and 1.54 percentage points quarter-on-quarter [2]. - The net profit margin improved significantly to 8.88%, an increase of 8.69 percentage points year-on-year and 5.86 percentage points quarter-on-quarter [2]. Cost Management - Total operating expenses for the period were 146 million yuan, a decrease of 60.14 million yuan compared to the same period last year [2]. - The expense ratio was 14.07%, down by 6.24 percentage points year-on-year, with notable reductions in sales expenses (down 50.40%), management expenses (down 16.91%), and R&D expenses (down 38.38%) [2]. - Financial expenses increased by 76.22% year-on-year [2]. Shareholder Structure - As of the end of Q3 2025, the total number of shareholders was 17,700, a decrease of 1,566 (8.12%) from the end of the first half of the year [2]. - The average market value per shareholder increased from 330,800 yuan to 345,400 yuan, reflecting a growth of 4.41% [2]. Company Overview - Bafang Electric (Suzhou) Co., Ltd. specializes in the R&D, production, sales, and technical services of electric bicycle motors and related electrical systems [3]. - The main revenue sources include electric bicycle motors (43.60%), kits (24.89%), integrated wheel motors (21.26%), and batteries (9.95%) [3]. - The company is classified under the power equipment industry, specifically in the motor sector, and is associated with concepts such as shared economy and specialized innovation [3].

八方电气(苏州)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。 重要内容提示： 投资者可于 2025 年 11 月 19 日 （星期三） 至 11 月 25 日 （星期 二）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过公司邮箱 security@bafang-e.com 进行提问。公司将在说明会上 对投资者普遍关注的问题进行回答。 八方电气(苏州)股份有限公司（以下简称"公司"）已于 2025 年 10 月 31 日发布公司 2025 年第三季度报告，为便于广大投资者更全 面深入地了解公司 2025 年第三季度经营成果、财务状况，公司计划 于 2025 年 11 月 26 日 （星期三） 11:00-12:00 举行 2025 年第三季 度业绩说明会，就投资者关心的问题进行交流。 1 会议召开时间：2025 年 11 月 26 日 （星期三） 11:00-12:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 ...

证券代码：603489 证券简称：八方股份 公告编号：2025-030 八方电气（苏州）股份有限公司 第三届董事会第十一次会议决议公告 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个别及连带责任。 一、董事会会议召开情况 八方电气（苏州）股份有限公司（以下简称"公司"）于 2025 年 10 月 29 日以现场结合通讯方式召开了第三届董事会第十一次会议， 会议通知于 2025 年 10 月 27 日以电子邮件方式发出。本次会议由董 事长王清华先生召集并主持，会议应出席董事 6 名，实际出席董事 6 名，公司高级管理人员列席了会议。本次会议的召集、召开及表决程 序符合《公司法》及《公司章程》等文件的相关规定，程序合法，会 议决议有效。 二、董事会会议审议情况 经与会董事审议，一致通过如下议案： （一）审议通过《2025 年第三季度报告》 本议案经董事会审计委员会全体成员一致同意并提交董事会审 议。 《2025 年第三季度报告》详见公司同日在上海证券交易所网站 （www.sse.com.cn）披露的相关内容。 表决结果：6 票同意，0 票 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥390,962,898.51, representing an increase of 18.26% compared to the same period last year[4]. - The total profit for the year-to-date period was ¥75,627,175.41, reflecting a significant increase of 57.85% year-on-year[4]. - The net profit attributable to shareholders for the third quarter was ¥34,706,837.15, which is a substantial increase of 5,640.96% compared to the same period last year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for the year-to-date period was ¥53,527,025.87, up by 23.52% year-on-year[4]. - The basic earnings per share for the third quarter was ¥0.15, showing an increase of 5,669.23% compared to the same period last year[4]. - The net profit for the first three quarters of 2025 reached CNY 66,899,579.77, an increase of 30.5% compared to CNY 51,257,231.34 in the same period of 2024[20]. - Operating profit for the first three quarters of 2025 was CNY 75,546,048.53, up from CNY 47,007,704.93 in 2024, reflecting a growth of 60.7%[20]. - The company reported a total comprehensive income of CNY 71,480,232.49 for the first three quarters of 2025, compared to CNY 51,059,463.02 in 2024, indicating a growth of 40%[21]. - Basic and diluted earnings per share for the first three quarters of 2025 were both CNY 0.28, up from CNY 0.22 in the same period of 2024, reflecting a 27.3% increase[22]. Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥3,202,795,290.13, which is a 1.37% increase from the end of the previous year[5]. - The equity attributable to shareholders at the end of the reporting period was ¥2,693,506,581.28, reflecting a growth of 1.82% compared to the end of the previous year[5]. - Total current assets increased to RMB 2,146,292,221.84 from RMB 2,068,101,411.69 at the end of 2024[14]. - Total non-current assets decreased to RMB 1,056,503,068.29 from RMB 1,091,501,074.55 at the end of 2024[15]. - Total liabilities decreased slightly to RMB 509,288,708.85 from RMB 514,114,339.55 at the end of 2024[15]. - The total equity of the company as of September 30, 2025, was CNY 2,647,146,901.51, compared to CNY 2,601,173,583.95 at the end of 2024, an increase of 1.8%[27]. Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥132,388,451.73, which is a significant increase of 146.46% year-on-year[4]. - Cash inflow from operating activities for the first three quarters of 2025 was CNY 540,853,143.72, compared to CNY 633,130,586.79 in 2024, representing a decrease of approximately 14.6%[33]. - Net cash flow from operating activities decreased significantly to CNY 96,102,850.71 in 2025 from CNY 36,719,059.66 in 2024, indicating a decline in operational efficiency[33]. - Cash inflow from investment activities in 2025 was CNY 2,254,117,542.09, a substantial increase from CNY 1,087,282,224.24 in 2024, reflecting a growth of approximately 107.5%[33]. - The company reported a significant increase in cash received from investment recoveries, totaling CNY 2,242,000,000.00 in 2025 compared to CNY 1,070,000,000.00 in 2024, marking a growth of approximately 109.5%[33]. - The ending cash and cash equivalents balance for 2025 was CNY 320,011,948.83, down from CNY 634,148,975.79 in 2024, reflecting a decrease of approximately 49.6%[34]. Cost Management - The company plans to continue expanding its market presence and controlling costs to sustain profit growth[8]. - Total operating costs for the first three quarters of 2025 were RMB 965,943,507.31, slightly down from RMB 969,053,275.38 in the previous year[19]. - Operating costs included RMB 809,369,358.70 in operating expenses, up from RMB 776,221,413.59 in the same period last year[19]. - The company’s management expenses decreased to CNY 76,323,388.50 from CNY 91,853,587.22, a reduction of 17%[20]. - Research and development expenses were CNY 40,954,588.82, down from CNY 66,459,217.80, representing a decrease of 38.5%[20]. - Research and development expenses for the first three quarters of 2025 were CNY 32,548,727.17, down 39.5% from CNY 53,871,205.29 in 2024[29]. Financial Reporting - The company did not apply new accounting standards for the first time in 2025, maintaining consistency in financial reporting[35].

八方电气（苏州）股份有限公司 内幕信息知情人登记管理制度 二○二五年十月 第二章 内幕信息及内幕信息知情人的范围 | | | 八方电气（苏州）股份有限公司内幕信息知情人登记管理制度 八方电气（苏州）股份有限公司 内幕信息知情人登记管理制度 第一章 总则 第一条 为了进一步规范八方电气（苏州）股份有限公司（以下简称"公司"） 内幕信息管理行为，加强公司内幕信息保密工作，维护信息披露公平原则，根据 《中华人民共和国公司法》《中华人民共和国证券法》（以下简称"《证券法》"） 《上市公司信息披露管理办法》《上市公司监管指引第 5 号——上市公司内幕信 息知情人登记管理制度》《上海证券交易所股票上市规则》（以下简称"《上市 规则》"）及《八方电气（苏州）股份有限公司章程》（以下简称"《公司章程》"） 的有关规定，结合公司实际情况，制定本制度。 第二条 公司董事会是内幕信息的管理机构，应保证内幕信息知情人档案真 实、准确和完整，董事长为主要责任人。公司董事会秘书负责内幕信息及知情人 管理的组织实施、登记入档和报送事宜。公司证券部在董事会秘书的领导下具体 负责内幕信息知情人登记、备案等相关工作。 第三条 董事长与董事会秘书 ...

八方电气（苏州）股份有限公司 董事、高级管理人员离职管理制度 第一章 总则 二○二五年十月 | | 附则 6 | | --- | --- | | 第四章 | | 八方电气（苏州）股份有限公司董事、高级管理人员离职管理制度 八方电气（苏州）股份有限公司 董事、高级管理人员离职管理制度 2 第一条 为加强对八方电气（苏州）股份有限公司（以下简称"公司"）董 事、高级管理人员离职事项的管理，保障公司治理稳定性和连续性，维护公司及 股东的合法权益，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、《上海证券交易所股 票上市规则》等法律法规、规范性文件及《八方电气（苏州）股份有限公司章程》 （以下简称"《公司章程》"）等有关规定，结合公司实际情况，特制定本制度。 第二条 本制度适用于公司董事（含独立董事）、高级管理人员因任期届满、 辞职、被解除职务或其他原因离职的情形。 第三条 公司董事、高级管理人员离职管理应遵循以下原则： （一）合法合规原则：严格遵守国家法律法规、监管规定及《公司章程》的 要求； （二）公开透明原则：及时、准确、完整地披露董事、高级管理人员 ...

八方电气（苏州）股份有限公司 内部审计制度 | | | 八方电气（苏州）股份有限公司内部审计制度 八方电气（苏州）股份有限公司 内部审计制度 二○二五年十月 第一章 总则 第一条 为了进一步规范八方电气（苏州）股份有限公司（以下简称"公司"） 内部审计工作，明确内部审计职责和权限，发挥内部审计在强化内部控制、改善 经营管理、提高经济效益等方面的作用，确保内部控制持续有效实施，维护公司 权益，实现内部审计制度化、规范化，根据《中华人民共和国审计法》《审计署 关于内部审计工作的规定》《上海证券交易所股票上市规则》《上海证券交易所 上市公司自律监管指引第 1 号——规范运作》等有关法律法规、规章和规范性文 件以及《八方电气（苏州）股份有限公司章程》的规定，结合公司实际情况，制 定本制度。 第二条 本制度所称内部审计，是指公司内部审计部门或人员依据国家有关 法律法规和本制度的规定，对公司内部控制和风险管理的有效性、财务信息的真 实性和完整性以及经营活动的效率和效果等开展的一种评价活动。 第三条 公司董事会对内部控制制度的建立健全和有效实施负责，重要的内 部控制制度应当经董事会审议通过。公司董事会及其全体成员应当保证内 ...