Core Viewpoint - The company reported a revenue of 1-3Q25 at 1.034 billion yuan, showing a year-on-year increase of 2.13%, with a single-quarter revenue of 391 million yuan in 3Q, reflecting a year-on-year growth of 18.26% and a quarter-on-quarter increase of 14.11% [1] - The European electric bicycle industry is entering a new growth cycle, and the 3Q25 performance exceeded expectations [1] Financial Performance - The net profit attributable to the parent company for 1-3Q25 was 67 million yuan, corresponding to an earnings per share of 0.28 yuan, representing a year-on-year increase of 30.51%, with a net profit of 35 million yuan in 3Q [1] - The gross margin for 1-3Q25 was 21.8%, down 3.9 percentage points year-on-year, while the gross margin for 3Q was 21.6%, up 1.5 percentage points quarter-on-quarter [1] - The net profit margin for 3Q was 8.9%, reflecting a quarter-on-quarter increase of 5.9 percentage points [1] Expense Ratios - The sales expense ratio for 1-3Q25 was 3.2%, down 3.3 percentage points year-on-year [1] - The management expense ratio was 7.4%, down 1.7 percentage points year-on-year [1] - The R&D expense ratio was 4.0%, down 2.6 percentage points year-on-year, and the financial expense ratio was -0.4%, down 2.6 percentage points year-on-year [1] Market Trends - The demand for electric bicycles is gradually recovering, with the company's revenue and profit showing an upward turning point [2] - According to bikeeurope, the total sales of bicycles and electric bicycles in Germany reached 885,000 units in the first quarter of this year, an increase of nearly 11% year-on-year, indicating a stabilization in downstream demand [2] Profit Forecast and Valuation - The company maintains its 2025 profit forecast while raising the 2026 profit forecast by 32.3% to 200 million yuan [3] - The current stock price corresponds to a 32.6 times price-to-earnings ratio for 2026, with a target price of 35.0 yuan, reflecting a 25.2% upside potential compared to the current stock price [3]

Core Viewpoint - The company Baifang Co., Ltd. (stock code: 603489) reported that as of September 30, 2025, the number of shareholders is 17,717 [1] Summary by Category - **Company Information** - Baifang Co., Ltd. has a total of 17,717 shareholders as of the specified date [1]

八方电气（苏州）股份有限公司 章 程 二○二五年十月 | 第一章 | 总 则 | 2 | | --- | --- | --- | | 第二章 | 经营宗旨和范围 | 3 | | 第三章 | 股 份 | 4 | | 第四章 | 股东和股东会 | 7 | | 第五章 | 董事和董事会 | 27 | | 第六章 | 高级管理人员 | 41 | | 第七章 | 财务会计制度、利润分配和审计 44 | | | 第八章 | 通知和公告 | 49 | | 第九章 | | | | | 合并、分立、增资、减资、解散和清算 51 | | | 第十章 | 修改章程 | 55 | | 第十一章 | 附则 | 56 | 八方电气（苏州）股份有限公司章程 八方电气（苏州）股份有限公司章程 第一章 总 则 第一条 为维护八方电气（苏州）股份有限公司（以下简称"公司"）、股 东、职工和债权人的合法权益，规范公司的组织和行为，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》"）和其他有关规定，制订本章程。 第二条 公司系依照《公司法》和其他有关规定成立的股份有限公司。公司 由苏州八方电 ...

证券代码：603489 证券简称：八方股份 公告编号：2025-032 八方电气（苏州）股份有限公司 关于办理完成工商变更登记及章程备案的公告 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个别及连带责任。 根据经营发展的实际情况，八方电气（苏州）股份有限公司（以 下简称"公司"）对注册资本及经营范围进行了变更，并对《公司章 程》的部分条款进行了修订。公司近期办理了相关工商变更登记及备 案手续，并取得苏州市数据局换发的营业执照。现将有关情况公告如 下： 一、注册资本变更 1.审议及信息披露 新增经营范围的事项详见公司于 2025 年 8 月 30 日披露的《关于 - 1 - 1.审议及信息披露 注册资本变更的事项详见公司于 2025 年 4 月 30 日披露的《关于 拟变更回购股份用途为注销并减少注册资本的公告》（2025-009）。 本事项经公司 2024 年年度股东大会审议通过。 2.变更情况 变更前：23501.3003 万元 变更后：23461.7979 万元 二、新增经营范围 取消监事会、新增经营范围暨修订<公司章程>及部分治 ...

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 ...