Core Viewpoint - The company, Shanghai Rongtai Health Technology Co., Ltd., has released its quarterly report, ensuring the accuracy and completeness of the financial information presented, and confirming that there are no false records or significant omissions [2][3]. Financial Data Summary - The financial statements for the third quarter are not audited, indicating that the figures presented are preliminary and subject to change [3][7]. - The report includes major accounting data and financial indicators, although specific figures are not detailed in the provided text [3]. - The company has a total of 2,303,200 shares held in its repurchase account, representing 1.13% of total shares [6]. Shareholder Information - The report includes information on the total number of ordinary shareholders and the status of the top ten shareholders, although specific details are not provided [5]. - There are no changes reported in the share lending situation of the top ten shareholders compared to the previous period [6]. Other Important Information - The company has confirmed that there are no additional significant operational updates or reminders for investors regarding the reporting period [6].

Core Viewpoint - Rongtai Health (603579.SH) reported a decline in revenue and net profit for the first three quarters of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company achieved a revenue of 1.148 billion yuan, representing a year-on-year decrease of 1.39% [1] - The net profit attributable to shareholders was 111 million yuan, down 22.24% year-on-year [1] - The non-recurring net profit was 65.57 million yuan, reflecting a significant decline of 48.28% compared to the previous year [1] - Basic earnings per share stood at 0.63 yuan [1]

Core Viewpoint - Rongtai Health is a leading company in the massage chair market in China and a significant global manufacturer, with a strong brand recognition and a comprehensive system for R&D, industrial design, and quality control [1] Group 1: Business Performance - In Q3 2025, Rongtai Health reported revenue of 1.148 billion yuan, ranking second in the industry, while the industry leader, Aojiahua, had revenue of 3.724 billion yuan [2] - The main business composition includes massage chairs generating 779 million yuan (96.12%), small massage appliances at 20.99 million yuan (2.59%), and other services at 2.33 million yuan (0.29%) [2] - The net profit for the same period was 111 million yuan, ranking first in the industry, with the second-place Rongjie Health reporting a net profit of 91.49 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Rongtai Health's debt-to-asset ratio was 17.81%, significantly lower than the previous year's 42.93% and below the industry average of 25.55% [3] - The gross profit margin for Q3 2025 was 32.09%, slightly down from 32.43% year-on-year and below the industry average of 34.44% [3] Group 3: Management and Shareholder Information - The chairman, Lin Guangrong, received a salary of 772,500 yuan in 2024, unchanged from 2023, while the general manager, Lin Qi, earned 1.3329 million yuan, a decrease of 70,400 yuan from the previous year [4] Group 4: Shareholder Dynamics and Market Outlook - As of September 30, 2025, the number of A-share shareholders increased by 15.59% to 15,500, while the average number of shares held per shareholder decreased by 0.82% [5] - Domestic business revenue grew by 16.92% year-on-year, despite a slight decline in overall revenue due to overseas demand and tariff policies [5] - The company plans to launch its Thailand factory by the end of 2025 and expects to produce therapeutic robots in Q4 2025 [5] Group 5: Strategic Initiatives and Future Projections - In H1 2025, domestic online sales increased by 30%, with strong performance in overseas emerging markets and cross-border e-commerce [6] - The company is enhancing its R&D and operational efficiency, with plans for a new massage industry language model and collaborations with various partners [6] - Future net profit projections for 2025 to 2027 are 173 million, 199 million, and 224 million yuan, respectively [5][6]

Group 1 - The company reported a third-quarter revenue of 338 million yuan, representing a year-on-year decrease of 0.43% [1] - The net profit attributable to shareholders was 25.48 million yuan, down 18.25% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 9.618 million yuan, a decline of 62.32% year-on-year [1] - The basic earnings per share were 0.14 yuan [1]

Market Overview - The other home appliance sector increased by 1.59% compared to the previous trading day, with Rongtai Health leading the gains [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Stock Performance - Rongtai Health (603579) closed at 33.11, with a rise of 3.79% and a trading volume of 101,900 shares, amounting to a transaction value of 343 million yuan [1] - Yuanjiahua (002614) closed at 6.93, down 0.14%, with a trading volume of 80,800 shares [1] - Rongjie Health (300247) closed at 4.52, down 0.88%, with a trading volume of 176,900 shares [1] Capital Flow - The other home appliance sector saw a net inflow of 26.59 million yuan from main funds, while retail investors experienced a net outflow of 34.55 million yuan [1] - Rongtai Health had a main fund net inflow of 19.33 million yuan, accounting for 5.63% of its total, while retail investors had a net outflow of 27.57 million yuan, representing -8.03% [1] - Rongjie Health recorded a main fund net inflow of 7.31 million yuan, with a retail net outflow of 8.19 million yuan [1]

Group 1 - Company Rongtai Health reported Q3 performance with revenue of approximately 1.148 billion yuan, a year-on-year decrease of 1.39% [1] - The net profit attributable to shareholders was about 111 million yuan, reflecting a year-on-year decline of 22.24% [1] - As of the report date, Rongtai Health's market capitalization stood at 6.7 billion yuan [2]

Financial Performance - Total revenue for Q3 2025 was CNY 337,947,966.23, a decrease of 0.43% compared to the same period last year[4] - Net profit attributable to shareholders was CNY 25,484,824.37, down 18.25% year-over-year[4] - Total profit for the period was CNY 20,750,906.45, reflecting a significant decline of 42.09% compared to the previous year[4] - The basic earnings per share for the quarter was CNY 0.14, a decrease of 22.22% from the same period last year[5] - Total operating revenue for the first three quarters of 2025 was CNY 1,148,150,857.84, a decrease of 1.4% compared to CNY 1,164,316,596.07 in the same period of 2024[19] - Net profit for the first three quarters of 2025 was CNY 110,868,486.23, down 22.4% from CNY 142,791,783.02 in the same period of 2024[20] - Basic earnings per share for the first three quarters of 2025 was CNY 0.63, down from CNY 0.82 in the same period of 2024[20] - The company reported a total comprehensive income of CNY 140,615,970.85 for the first three quarters of 2025, compared to CNY 135,035,506.78 in 2024[20] Assets and Liabilities - Total assets at the end of the period were CNY 3,347,963,775.30, a decrease of 10.53% from the end of the previous year[5] - The company’s total assets were RMB 3,347,963,775.30, compared to RMB 3,742,040,010.16 at the end of 2024, reflecting a reduction of approximately 11%[14] - The total liabilities decreased to CNY 596,424,189.86 from CNY 1,726,421,575.63 year-over-year[19] - Short-term borrowings decreased significantly to RMB 150,313,928.40 from RMB 426,604,575.77, a reduction of about 65%[14] - The company’s accounts payable decreased to RMB 268,874,782.26 from RMB 425,718,240.47, indicating a decline of approximately 37%[14] Equity and Shareholder Information - Shareholders' equity attributable to the parent company increased by 36.44% to CNY 2,747,982,971.64 due to the conversion of convertible bonds[5] - The total equity attributable to shareholders increased to CNY 2,747,982,971.64 from CNY 2,014,115,666.39 in the previous year[19] - The total number of common shareholders at the end of the reporting period was 15,470[10] - The company reported a total of 2,303,200 shares held in the repurchase account, representing 1.13% of total shares[13] Cash Flow - Operating cash flow net amount increased to ¥71,563,658.77 from a negative ¥17,455,309.47 year-over-year[23] - Investment activities generated a net cash flow of ¥191,321,888.68, a significant improvement from a negative ¥683,307,671.94 in the previous period[23] - Financing activities resulted in a net cash flow of -¥337,556,092.87, compared to a positive ¥131,630,988.42 last year[24] - Total cash and cash equivalents at the end of the period decreased to ¥424,289,289.40 from ¥807,660,357.48[24] - Cash inflow from operating activities totaled ¥1,375,989,761.70, up from ¥1,330,058,902.62[23] - Cash outflow from operating activities decreased to ¥1,304,426,102.93 from ¥1,347,514,212.09[23] - Cash inflow from investment activities was ¥3,696,254,298.41, compared to ¥2,729,995,915.95 previously[23] - Cash outflow from investment activities increased to ¥3,504,932,409.73 from ¥3,413,303,587.89[23] - Cash inflow from financing activities was ¥274,156,927.89, down from ¥378,935,396.42[24] - Cash outflow from financing activities rose to ¥611,713,020.76 from ¥247,304,408.00[24] Expenses - The company experienced increased sales promotion and R&D expenses, contributing to the decline in profits[8] - Total operating costs increased to CNY 1,091,080,657.84, up 6.2% from CNY 1,027,733,709.64 year-over-year[19] - Research and development expenses rose to CNY 70,139,092.89, an increase of 23% compared to CNY 57,007,658.80 in 2024[19] - The financial expenses for the first three quarters of 2025 were CNY 17,009,223.55, compared to a gain of CNY 8,609,589.47 in the same period of 2024[19] Non-Recurring Items - Non-recurring gains and losses totaled CNY 15,866,802.50 for the quarter, with significant contributions from government subsidies and asset disposals[7]

Group 1 - The report indicates that the home appliance industry has underperformed the broader market, with the A-share index rising by 7.0%, ranking 22 out of 31 sectors, primarily due to tariff disruptions and national subsidy policies [2][12][13] - The domestic market has seen significant demand due to the "old-for-new" policy, while external demand has weakened, necessitating a focus on emerging markets for growth opportunities [3][30][31] Group 2 - The report highlights two main investment themes: advancements in the robotics industry and the attractiveness of low valuation and high dividend stocks within the home appliance sector [4][5] - The global humanoid robot market is projected to exceed $20 billion by 2029, with the domestic market expected to reach 75 billion yuan, indicating substantial growth potential [4][46] Group 3 - The report emphasizes the resilience of home appliance companies despite a decline in industry sentiment, suggesting a dual approach to investment: focusing on robotics and companies with low valuations and high dividends [5][69] - Key companies in the robotics space include Midea Group, Haier, and others, which are actively developing humanoid robots and related technologies [60][61][63]

统一社会信用代码：913100007449143662 类型：股份有限公司（上市、自然人投资或控股） 住所：上海市青浦区朱枫公路1226号 法定代表人：林琪 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。 上海荣泰健康科技股份有限公司（以下简称"公司"）于2025年9月29日及2025年10月15日分别召开第四届董事会第 二十四次会议和2025年第二次临时股东会，审议并通过了《关于变更注册资本、增加经营范围、取消监事会暨修 订〈公司章程〉的议案》。公司对注册资本、经营范围及《公司章程》进行了变更、修订，并于近日完成了工商 变更登记手续，取得了上海市市场监督管理局换发的《营业执照》。具体情况如下： 名称：上海荣泰健康科技股份有限公司 经营范围：许可项目：第二类增值电信业务。（依法须经批准的项目，经相关部门批准后方可开展经营活动，具 体经营项目以相关部门批准文件或许可证件为准） 一般项目：家用电器研发；家用电器制造；家用电器销售；家用电器零配件销售；电子元器件与机电组件设备制 造；集成电路制造；虚拟现实设备制造；机械电气设备制造； ...

Core Viewpoint - Rongtai Health announced changes to its registered capital, business scope, and company articles, which were approved in board and shareholder meetings held on September 29 and October 15, 2025, respectively [1]. Group 1 - The company has completed the registration changes and obtained a new business license from the Shanghai Municipal Market Supervision Administration [1]. - The changes include adjustments to the registered capital and the expansion of the business scope [1]. - The company has also decided to abolish the supervisory board as part of the amendments [1].