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 ...

八方电气（苏州）股份有限公司 总经理工作细则 二○二五年十月 | 第二章 | 经理的任免 | 2 | | --- | --- | --- | | 第三章 | 经理的职权 | 3 | | 第四章 | 经理的责任和义务 | 5 | | 第五章 | 经理的管理机构 | 7 | | 第六章 | 经理办公会议 | 7 | | 第七章 | 经理的报告事项 | 8 | | 第八章 | 经理的考核与奖惩 | 8 | | 第九章 | 附则 | 9 | 八方电气（苏州）股份有限公司总经理工作细则 八方电气（苏州）股份有限公司 总经理工作细则 第一章 总则 第一条 为了明确八方电气（苏州）股份有限公司（以下简称"公司"）总 经理（以下简称"经理"）及副总经理（以下简称"副经理"）的职责，保障经 理及其他高级管理人员高效、协调、规范地行使职权，保障公司股东、债权人的 合法权益，促进公司生产经营和持续发展，根据《中华人民共和国公司法》（以 下简称"《公司法》"）、《八方电气（苏州）股份有限公司章程》（以下简称 "《公司章程》"）等有关法律、法规及规范性文件的规定，并结合公司实际情 况，特制定本细则。 第二条 经理是董事会领导下的公司经 ...

八方电气（苏州）股份有限公司 投资者关系管理制度 二○二五年十月 | | | 八方电气（苏州）股份有限公司 投资者关系管理制度 第一章 总则 第一条 为了加强八方电气（苏州）股份有限公司（以下简称"公司"）与 投资者之间的信息沟通，完善公司治理结构，切实保护投资者特别是社会公众投 资者的合法权益，促进公司与投资者之间长期、稳定的良性互动关系，根据《中 华人民共和国公司法》《中华人民共和国证券法》《上市公司投资者关系管理工 作指引》《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》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 投资者关系管理是指公司通过信息披露与交流，加强与投资者及潜 在投资者之间的沟通，增进投资者对公司的了解和认同，提升公司治理水平，以 实现公司整体利益最大化和保护投资者合法权益的管理行为。 第三条 投资者关系管理的目的是： （一）促进公司与投资者之间的良性关系，增进投资者对公司的进一步了解 和熟悉； （二）建立稳定和优质的投资者基础，获得长期的市场支持； （三）形成服务投资者、 ...

八方电气（苏州）股份有限公司 董事和高级管理人员 所持本公司股份及变动管理制度 二○二五年十月 | | | 八方电气（苏州）股份有限公司董事和高级管理人员所持本公司股份及变动管理制度 八方电气（苏州）股份有限公司 董事和高级管理人员所持本公司股份及变动管理制度 第一章 总则 第一条 为加强八方电气（苏州）股份有限公司董事、高级管理人员所持本 公司股份及其变动的管理，规范买卖公司股票行为，根据《中华人民共和国公司 法》《中华人民共和国证券法》《上市公司董事和高级管理人员所持本公司股份 及其变动管理规则》《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 8 号——股份变动管理》和《八方电气（苏州）股份有限公司 章程》等相关规定，结合公司实际情况，制定本制度。 第二条 本制度适用于公司董事和高级管理人员持有本公司股份及其变动 的管理。 第三条 公司董事和高级管理人员所持本公司股份，是指登记在其名下和利 用他人账户持有的所有本公司股份。公司董事和高级管理人员从事融资融券交易 的，还包括记载在其信用账户内的本公司股份。 第二章 股份管理及信息披露 第四条 公司董事和高级管理人员应当在下列时点或期间 ...

Investment Rating - The report recommends investment in the electric power equipment industry, highlighting specific companies for potential investment opportunities [1][3]. Core Insights - Lithium battery material prices continue to rise, with domestic lithium hexafluorophosphate averaging 95,000 yuan/ton, up 20.25% month-on-month, and export prices at 104,000 yuan/ton, up 20.93% [1]. - The average winning bid price for lithium battery energy storage systems increased to 0.4771 yuan/Wh in September 2025, reflecting a 4.33% month-on-month rise [1]. - The report emphasizes the ongoing high demand in the wind power sector, with a target of adding no less than 120GW of new installed capacity annually during the 14th Five-Year Plan period [3]. - The Indian market shows strong demand for photovoltaic installations, with 29.5GW added in the first three quarters of 2025, a 70% year-on-year increase [3]. Summary by Sections Lithium Battery Materials - Domestic lithium hexafluorophosphate prices are at 95,000 yuan/ton, a 20.25% increase month-on-month, while export prices are at 104,000 yuan/ton, up 20.93% [1]. - Recommended companies in the lithium battery sector include Zhuhai Guanyu, Shangtai Technology, and XWANDA [1]. Energy Storage Systems - The average winning bid price for lithium battery energy storage systems reached 0.4771 yuan/Wh in September 2025, marking a 4.33% increase month-on-month [1]. - Recommended companies in the energy storage sector include Yiwei Lithium Energy, Sungrow Power, and CATL [1]. Wind Power - The "Wind Energy Beijing Declaration 2.0" sets a target of at least 120GW of new installed capacity annually during the 14th Five-Year Plan, with a cumulative target of 1,300GW by 2030 [3]. - Recommended companies in the wind power sector include Goldwind Technology and Daikin Heavy Industries [3]. Photovoltaic Market - India added 29.5GW of new photovoltaic capacity in the first three quarters of 2025, a 70% year-on-year increase [3]. - Recommended companies in the photovoltaic sector include Aiko Solar, LONGi Green Energy, and Mibet [3].

Market Overview - The shared economy sector increased by 0.46% on October 21, with Haikong Group leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Top Performers in Shared Economy Sector - Haikong Group (603069) closed at 28.66, up 7.22% with a trading volume of 471,000 shares and a turnover of 1.337 billion yuan [1] - Shilianhang (002285) closed at 2.38, up 3.93% with a trading volume of 593,800 shares and a turnover of 139 million yuan [1] - Xinlong Health (002105) closed at 6.93, up 2.97% with a trading volume of 81,000 shares and a turnover of 55.435 million yuan [1] Fund Flow Analysis - The shared economy sector experienced a net outflow of 427 million yuan from institutional investors, while retail investors saw a net inflow of 316 million yuan [2] - The sector's overall fund flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2][3] Individual Stock Fund Flow - SAIC Group (600104) had a net inflow of 17.3522 million yuan from institutional investors, while it faced a net outflow of 18.0513 million yuan from speculative funds [3] - Zhongbei Communication (603220) saw a net inflow of 17.2214 million yuan from institutional investors, with a net outflow of 5.2555 million yuan from speculative funds [3] - Jieshun Technology (002609) recorded a net inflow of 11.84 million yuan from institutional investors, while speculative funds had a net outflow of 5.9588 million yuan [3]

Market Overview - The electric motor sector increased by 0.75% compared to the previous trading day, with Dayang Electric leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Stock Performance - Dayang Electric (002249) closed at 11.48, rising by 2.96% with a trading volume of 2.67 million shares and a transaction value of 3.037 billion [1] - Other notable performers include: - Kaizhong Precision (002823) at 16.74, up 2.07% [1] - Bafang Electric (603489) at 24.88, up 1.97% [1] - Huayang Intelligent (301502) at 47.77, up 1.90% [1] - Kangping Technology (300907) at 33.04, up 1.63% [1] Fund Flow Analysis - The electric motor sector experienced a net outflow of 252 million from institutional investors, while retail investors saw a net inflow of 103 million [2] - Notable stock fund flows include: - Jiangte Electric (002176) with a net inflow of 26.04 million from institutional investors [3] - Huayi Shares (300626) with a net inflow of 24.04 million from institutional investors [3] - Zhaowei Electromechanical (003021) with a net inflow of 13.15 million from institutional investors [3]