Core Insights - The company reported a revenue of 3.516 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 15.66% [1] - The net profit attributable to shareholders reached 493 million yuan, showing a significant increase of 69.79% year-on-year [1] - The basic earnings per share (EPS) stood at 0.63 yuan [2] Financial Performance - The gross profit margin for the first three quarters was 30.75%, an increase of 4.01 percentage points year-on-year [2] - The net profit margin was 14.05%, up by 5.20 percentage points compared to the same period last year [2] - In Q3 2025, the gross profit margin was 33.89%, reflecting a year-on-year increase of 6.74 percentage points and a quarter-on-quarter increase of 4.33 percentage points [2] - The net profit margin for Q3 was 12.50%, which is an increase of 0.38 percentage points year-on-year but a decrease of 2.90 percentage points quarter-on-quarter [2] Cost Management - Total operating expenses for the period were 431 million yuan, a decrease of 112 million yuan year-on-year [2] - The expense ratio was 12.27%, down by 5.61 percentage points from the previous year [2] - Sales expenses decreased by 50.04% year-on-year, while management expenses fell by 10.25% [2] - Research and development expenses increased by 1.27%, and financial expenses decreased by 58.13% [2] Shareholder Dynamics - As of the end of Q3 2025, the total number of shareholders was 15,400, a decrease of 6,004 or 27.99% from the end of the previous half [2] - The average market value per shareholder increased from 417,600 yuan to 629,100 yuan, a growth of 50.65% [2] Company Overview - The company, located in Changzhou, Jiangsu Province, was established on March 26, 2003, and went public on February 27, 2018 [3] - Its main business involves the research, production, sales, and service of rail transit vehicle components, with 97.07% of revenue coming from product sales [3] - The company is classified under the machinery equipment sector, specifically in rail transit equipment [3]

证券代码：603680 证券简称：今创集团 公告编号：2025-040 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 今创集团股份有限公司（以下简称"公司"）第五次董事会第十三次会议于 2025 年 10 月 28 日以现场和通讯会议相结合的形式在公司 609 会议室召开。本 次会议已于会前以电子邮件、电话和文件直接送达等方式提前通知全体参会人员。 会议应出席董事人数 9 人，实际出席董事人数 9 人。会议由公司董事长俞金坤先 生主持，公司部分高级管理人员列席会议。会议的召开符合《中华人民共和国公 司法》和《公司章程》等有关规定，会议决议合法有效。 二、董事会会议审议情况 （一）审议通过《关于 2025 年第三季度报告的议案》 今创集团股份有限公司董事会 今创集团股份有限公司 第五次董事会第十三次会议决议公告 具体内容详见公司同日于上海证券交易所官方网站（http://www.sse.com.cn） 及公司指定媒体上披露的公司 2025 年第三季度报告。 表决结果：9 票赞成、0 票反对、0 票 ...

Financial Performance - The company's operating revenue for the third quarter was ¥1,004,458,980.82, a decrease of 6.86% compared to the same period last year[5] - The total profit for the period was ¥142,913,485.16, reflecting a slight increase of 0.39% year-on-year[5] - The net profit attributable to shareholders was ¥125,224,197.56, down 12.29% from the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥115,909,979.97, a decrease of 20.45% compared to the same period last year[5] - The basic earnings per share for the period were ¥0.16, a decrease of 12.29% year-on-year[6] - The diluted earnings per share were also ¥0.16, reflecting the same decrease of 12.29% compared to the previous year[6] - Total operating revenue for the first three quarters of 2025 reached CNY 3,515,983,449.52, an increase of 15.6% compared to CNY 3,040,006,176.78 in the same period of 2024[20] - Operating profit for the first three quarters of 2025 was CNY 568,506,723.71, up 83.7% from CNY 309,353,939.31 in the first three quarters of 2024[21] - Net profit attributable to shareholders of the parent company for the first three quarters of 2025 was CNY 492,718,911.47, a 69.8% increase from CNY 290,188,812.02 in the same period of 2024[21] - The company reported a total comprehensive income of CNY 524,599,082.76 for the first three quarters of 2025, compared to CNY 260,298,402.61 in the same period of 2024, indicating a significant increase of 101%[21] - Basic and diluted earnings per share for the first three quarters of 2025 were both CNY 0.63, up from CNY 0.37 in the same period of 2024[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥9,117,538,864.99, a decrease of 3.32% from the end of the previous year[6] - The company's total assets amounted to RMB 9,117,538,864.99, a decrease from RMB 9,430,859,486.08 on December 31, 2024, reflecting a decline of approximately 3.32%[15] - The company's total current liabilities were reported at RMB 2,579,000,000, reflecting a decrease from the previous period[16] - The company’s total liabilities decreased to RMB 5,000,000,000, indicating a positive trend in debt management[16] - Total liabilities decreased to CNY 3,498,235,279.38 in 2025 from CNY 4,101,039,353.13 in 2024, reflecting a reduction of approximately 14.7%[18] - Total equity attributable to shareholders of the parent company increased to CNY 5,598,735,702.34 in 2025, compared to CNY 5,310,658,494.05 in 2024, marking a growth of 5.4%[18] Cash Flow - The company reported a net cash flow from operating activities of ¥185,430,090.95 for the year-to-date period[5] - In the first three quarters of 2025, the cash inflow from operating activities was approximately $3.34 billion, an increase of 19.7% compared to $2.79 billion in the same period of 2024[23] - The net cash flow from operating activities for the first three quarters of 2025 was $185.43 million, a significant improvement from a net outflow of $242.99 million in the first three quarters of 2024[23] - The cash inflow from investment activities in the first three quarters of 2025 was $997.05 million, compared to $289.25 million in the same period of 2024, marking a 245.5% increase[24] - The net cash flow from investment activities for the first three quarters of 2025 was $448.81 million, a substantial rise from $22.48 million in the first three quarters of 2024[24] - The cash inflow from financing activities in the first three quarters of 2025 was $1.16 billion, a decrease from $1.64 billion in the same period of 2024[24] - The net cash flow from financing activities for the first three quarters of 2025 was a negative $610.62 million, contrasting with a positive $4.30 million in the first three quarters of 2024[24] - The total cash and cash equivalents at the end of the first three quarters of 2025 amounted to $357.17 million, up from $160.16 million at the end of the first three quarters of 2024[24] - The company reported a cash outflow of $1.77 billion from financing activities in the first three quarters of 2025, compared to $1.64 billion in the same period of 2024[24] - The cash outflow for operating activities in the first three quarters of 2025 was $3.15 billion, slightly higher than $3.03 billion in the same period of 2024[23] Investments and Expenses - Research and development expenses for the first three quarters of 2025 were CNY 144,263,721.86, slightly up from CNY 142,450,395.60 in the same period of 2024[20] - The company reported a significant increase in investment income, reaching CNY 66,064,743.46 in the first three quarters of 2025, compared to CNY 65,512,078.67 in the same period of 2024[20] - The total cost of operations for the first three quarters of 2025 was CNY 2,907,366,532.94, an increase from CNY 2,803,240,423.45 in the same period of 2024[20] Shareholder Information - The equity attributable to shareholders increased by 5.42% to ¥5,598,735,702.34 compared to the end of the previous year[6] - The company’s equity position remains strong, with significant control by major shareholders, including a combined ownership of 66.941% by key individuals[14] Accounting Standards - The company did not apply the new accounting standards starting from 2025[25]

Core Insights - The company reported a third-quarter revenue of 1.004 billion, a decrease of 6.86% compared to the previous quarter [1] - Net profit for the third quarter was 125 million, down 12.29% [1] - For the first three quarters, the company achieved a revenue of 3.516 billion, representing a year-on-year growth of 15.66% [1] - Net profit for the first three quarters was 493 million, showing a significant year-on-year increase of 69.79% [1]

Core Viewpoint - China Railway Transportation Co., Limited plans to reduce its stake in Jinchuan Group (603680.SH) by up to 23,511,562 shares, representing no more than 3% of the total shares, due to its operational needs [1][2]. Summary by Sections Shareholding and Reduction Plan - As of the announcement date, China Railway holds 152,706,271 shares in Jinchuan Group, accounting for 19.48% of the total share capital [1]. - The reduction will occur within three months starting 15 trading days after the announcement, utilizing both centralized bidding and block trading methods [1][2]. - The planned reduction includes up to 7,837,187 shares through centralized bidding (1% of total shares) and up to 15,674,375 shares through block trading (2% of total shares) [1][2]. Background Information - The shares to be reduced were acquired prior to the company's initial public offering (IPO) and have been tradable since February 27, 2019 [1][2]. - Jinchuan Group was listed on the Shanghai Stock Exchange on February 27, 2018, with an IPO price of 32.69 yuan per share [2][3]. - The company has previously announced dividend plans, including a 4-for-10 bonus share issue and a cash dividend of 3 yuan per share in July 2018, followed by a 3-for-10 bonus share issue and a cash dividend of 2 yuan per share in July 2019 [3].

Summary of Key Points Core Viewpoint - Multiple shareholders across various companies are planning to reduce their stakes, indicating potential shifts in ownership and market dynamics [1] Shareholder Reductions - Xiaoming Co., Ltd. shareholders Xiamen Chentu and its concerted parties plan to reduce their holdings by up to 2.97% [1] - Zhongdian Port shareholders Zhongdian Kunrun Fund and Zhongdian Development Fund intend to reduce their stakes by up to 1% [1] - Liao Ning Zhongde, Huzhou Yuntong, and Haitong Innovation, shareholders of Canxin Co., Ltd., plan to collectively reduce their holdings by no more than 324,790 shares [1] - Former controlling shareholder of Hangxin Technology, Liu Shaojian, plans to reduce his stake by up to 0.98% [1] - The actual controller of Jingda Co., Ltd., Li Guangrong, intends to reduce his holdings by no more than 3% [1] - Shareholders Wu Youcai and Guo Qinghui of Aonong Biological plan to collectively reduce their holdings by up to 894,000 shares [1] - Shareholders Shanghai Yundun and Shanghai Lanxiao of Action Education plan to collectively reduce their holdings by up to 2.3 million shares [1] - Shareholder Tong Yi Furong No. 16 of Yinlong Co., Ltd. plans to reduce their stake by up to 1.96% [1] - Donghua Software's director and general manager, Lv Bo, plans to reduce his holdings by no more than 1.519 million shares [1] Other Notable Events - Xin Sai Co., Ltd. announced that Xin Sai Trading has been declared bankrupt by the court [1] - Jinjia Co., Ltd. reported that 37.27 million shares held by Jinjia Chuangtou are subject to judicial auction [1]

Core Viewpoint - China Railway Transportation Co. Limited plans to reduce its shareholding in Jinchuang Group by up to 23,511,562 shares, representing 3% of the total shares, due to its operational needs [2][5]. Group 1: Major Shareholder Information - As of the announcement date, China Railway holds 152,706,271 shares in Jinchuang Group, accounting for 19.48% of the total share capital [1]. - The shares held by China Railway were acquired before the company's initial public offering (IPO) and have been tradable since February 27, 2019 [1]. Group 2: Reduction Plan Details - The reduction plan allows for a maximum of 23,511,562 shares to be sold within three months, starting 15 trading days after the announcement [2]. - The plan includes a maximum of 7,837,187 shares to be sold through centralized bidding and 15,674,375 shares through block trading [2]. - Any changes in share capital due to stock dividends or capital reserve transfers will adjust the number of shares available for reduction accordingly [2]. Group 3: Compliance and Commitments - China Railway has adhered to its previous commitments regarding shareholding and will notify the company five trading days in advance before any reduction [5]. - The shareholder has complied with the lock-up period commitments since the company's stock listing [6].

Core Viewpoint - China Railway Transportation Co., Limited plans to reduce its stake in Jinchuang Group by up to 23,511,562 shares, representing a maximum of 3% of the company's total shares, due to its operational needs [2] Summary by Relevant Sections Shareholding Information - As of the announcement date, China Railway holds 152,706,271 shares in Jinchuang Group, accounting for 19.48% of the total share capital [2] Reduction Plan - The reduction will occur within three months starting from 15 trading days after the announcement, utilizing both centralized bidding and block trading methods [2] - The planned reduction includes up to 7,837,187 shares (1% of total shares) through centralized bidding and up to 15,674,375 shares (2% of total shares) through block trading [2] - Any changes in share capital due to stock dividends or capital reserve transfers will lead to adjustments in the aforementioned share quantities [2]

Core Insights - On October 16, no A-share listed companies disclosed any increase in shareholding, while 19 companies announced share reductions [1] Summary by Category Share Reduction Details - Debon Technology: The largest shareholder, the National Big Fund, reduced holdings by 1.5173 million shares [2] - Donghua Software: The director and general manager, Mu Bo, plans to reduce holdings by no more than 1.5192 million shares [2] - Yinlong Co., Ltd.: Proposed to reduce no more than 1.96% of the company's shares [2] - Action Education: Shareholders Shanghai Yundun and Shanghai Lanxiao plan to reduce no more than 1.9% of total share capital [2] - Jinchuan Group: China Railway plans to reduce no more than 3% of the company's shares [2] - YTO Express: Hangzhou Haoyue intends to transfer no more than 2% of the company's shares through block trading [2] - Jingda Co., Ltd.: The actual controller, Li Guangrong, plans to reduce no more than 3% of shares [2] - Demai Chemical: Chang Lianrong Investment reduced holdings by 5.6402 million shares from September 16 to October 16 [2] - Tongfu Microelectronics: The largest shareholder, Huada Group, plans to reduce no more than 1% of shares [2] - Canxin Co., Ltd.: Shareholders plan to reduce no more than 2.71% of the company's shares [2] - Legend Capital: Lihua Science and Technology plans to reduce no more than 3% of the company's shares [2] - Hangxin Technology: The original controlling shareholder plans to reduce no more than 0.98% of shares [2] - Taijia Co., Ltd.: Zhonglian Heavy Industry plans to reduce no more than 3% of the company's shares [2] - Shunbo Alloy: Shareholders plan to reduce no more than 2.08% of total share capital [2] - Shaolong Co., Ltd.: Shareholder Shenzhen Zhaowei plans to reduce no more than 3% of the company's shares [2] - Jingcheng Machinery: Directors and executives plan to reduce no more than 0.21% of total share capital [2] - Zhongdian Port: Shareholders plan to reduce no more than 1% of the company's shares [2] - Hongqi Chain: Yonghui Supermarket completed its reduction plan, cumulatively reducing 1% of total share capital [2] - Xiaoming Co., Ltd.: Shareholders plan to reduce no more than 2.97% of the company's shares [2]

Group 1: Corporate Leadership Changes - Fuyao Glass's chairman, Cao Dewang, has submitted his resignation but will continue to serve as a director and hold positions in some subsidiaries. His son, Cao Hui, has been elected as the new chairman [1] Group 2: Corporate Transactions - TBEA's subsidiary plans to acquire a 74.19% stake in Shuguang Cable for 946 million yuan to enhance its market share in high-end cable products [2] - Zhiguan Electric intends to purchase minority stakes in its subsidiary, Zhiguan Energy Storage, through a combination of share issuance and cash payment [5] - Yiyi Co. plans to invest 70.2 million yuan in a venture capital fund to strengthen its investment layout in the pet industry [6] Group 3: Corporate Performance - Rongzhi Rixin expects a net profit increase of 871.3% to 908.09% year-on-year for the first three quarters, driven by growth in the power, petrochemical, and non-ferrous industries [7] - Taihe New Materials' subsidiary, Minshida, reported a 28.88% increase in net profit year-on-year for the first three quarters [9] - Fuyao Glass reported a 28.93% increase in net profit year-on-year for the first three quarters, with a revenue growth of 17.62% [10] - Chunfeng Power's net profit increased by 30.89% year-on-year for the first three quarters, attributed to steady business growth [11] - Guobang Pharmaceutical's net profit grew by 23.17% year-on-year in the third quarter, despite a slight decline in revenue [12] - Tianan New Materials reported a 31.12% increase in net profit year-on-year for the third quarter, driven by growth in its subsidiaries [13] - Guangsheng Nonferrous expects to turn a profit in the first three quarters, with a projected net profit of 100 million to 130 million yuan, benefiting from rising rare earth market prices [14] - Aobi Zhongguang anticipates a net profit of approximately 108 million yuan for the first three quarters, marking a return to profitability [15] Group 4: Share Buybacks and Reductions - Jinchuan Group's shareholder, China Railway, plans to reduce its stake by up to 3% [16] - Yinlong Co.'s actual controller plans to reduce its stake by up to 1.96% [17] - Action Education's shareholders plan to collectively reduce their holdings by up to 230,000 shares [18] - Zhijiang Bio plans to repurchase shares worth between 60 million and 120 million yuan for employee stock ownership plans [19] Group 5: Significant Contracts - Buchang Pharmaceutical's subsidiary signed a technical service contract with WuXi AppTec for 10.8 million yuan, enhancing its drug development capabilities [20] - Zhongchao Holdings' subsidiary is involved in a national key project on new materials, focusing on high-temperature alloy casting [20]