Core Viewpoint - The company, Jinhe Business Management, announced the appointment of Ms. Chen Wanting as the representative for securities affairs [2] Company Summary - Jinhe Business Management has made a significant leadership change by appointing a new securities affairs representative [2]

Core Points - The company, Jinhe Business Management, announced that its controlling shareholder, Shanghai Jinhe Investment Group Co., Ltd., has pledged part of its shares [2] - A total of 20,000,000 shares were pledged by Jinhe Group [2]

Core Insights - The company reported a total operating revenue of 729 million yuan for the first three quarters of 2025, representing a year-on-year decrease of 5.89% [1] - The net profit attributable to shareholders of the parent company was 85.87 million yuan, showing a significant year-on-year increase of 127.98% [1] - The basic earnings per share stood at 0.18 yuan [1]

Core Insights - The company reported a revenue of 729 million yuan for the first three quarters of 2025, a year-on-year decrease of 5.89% [1] - The net profit attributable to shareholders reached 85.87 million yuan, marking a significant year-on-year increase of 127.98% [1] - The basic earnings per share stood at 0.18 yuan [2] Financial Performance - The gross profit margin for the first three quarters was 24.11%, down by 3.30 percentage points year-on-year [2] - The net profit margin improved to 10.57%, an increase of 7.37 percentage points compared to the same period last year [2] - In Q3 2025, the gross profit margin was 25.85%, a decrease of 3.96 percentage points year-on-year but an increase of 5.09 percentage points quarter-on-quarter [2] - The net profit margin for Q3 was 3.50%, slightly up by 0.02 percentage points year-on-year but down by 3.98 percentage points from the previous quarter [2] Expense Management - Total operating expenses for the period were 194 million yuan, a decrease of 33.62 million yuan year-on-year [2] - The expense ratio was 26.65%, down by 2.77 percentage points compared to the same period last year [2] - Sales expenses decreased by 10.54%, while management expenses saw a significant reduction of 32.04% [2] Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 18,200, a decrease of 4,270 or 18.99% from the end of the previous half [2] - The average market value of shares held per shareholder increased from 119,100 yuan to 149,700 yuan, reflecting a growth of 25.62% [2] Company Overview - Shanghai Jinheng Commercial Management (Group) Co., Ltd. was established on May 9, 2007, and went public on April 21, 2020 [3] - The company specializes in the positioning, design, renovation, leasing, operation, and service of old urban properties and inefficient commercial properties [3] - The main revenue sources are leasing (74.83%) and property services and others (25.17%) [3]

证券代码：603682 证券简称：锦和商管 公告编号：2025-049 上海锦和商业经营管理（集团）股份有限公司 关于控股股东股份质押的公告 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： 上海锦和商业经营管理（集团）股份有限公司（下称"公司"）控股股东 上海锦和投资集团有限公司（下称"锦和集团"）持有公司股份数量 274,050,000 股，占公司总股本比例 58.00%。 本次锦和集团质押股份数 20,000,000 股，质押后锦和集团累计质押数量 52,000,000 股，占其持股数量 18.97%，占公司总股本的 11.01%。 公司于近日收到锦和集团通知，获悉其将所持有公司的部分股份办理了质押 业务，具体事项如下： 截止本公告披露日，锦和集团累计质押股份情况如下： 1 | | | | | | | | | 已质押股份情况 | 未质押股份情况 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 名称 | ...

上海锦和商业经营管理（集团）股份有限公司 关于聘任证券事务代表的公告 证券代码：603682 证券简称：锦和商管 公告编号：2025-048 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。 上海锦和商业经营管理（集团）股份有限公司（以下简称"公司"）于 2025 年 10 月 30 日召开第五届董事会第十三次会议，审议通过了《关于聘任证券事务 代表的议案》，决定聘任陈婉婷女士（简历附后）为公司证券事务代表，协助董 事会秘书履行相关职责。任期自董事会聘书生效之日起至第五届董事会任期届满 为止。 陈婉婷女士未受过中国证监会和其他有关部门的处罚和证券交易所惩戒，具 备履职所需的专业知识、工作经验和相关素养，其任职资格符合《中华人民共和 国公司法》《上海证券交易所股票上市规则》等相关法律、法规和规范性文件的 规定。 证券事务代表的联系方式如下： 特此公告。 上海锦和商业经营管理（集团）股份有限公司 董事会 2025 年 10 月 31 日 1 1、电话：021-52399283 2、传真：021-52385827 3、邮箱：dongb ...

证券代码：603682 证券简称：锦和商管 公告编号：2025-047 本期计提的信用减值损失主要是应收账款坏账损失、其他应收款坏账损失及长 期应收款坏账损失。根据《企业会计准则第 22 号——金融工具确认和计量》及 公司会计政策的相关规定，对各类金融资产进行分类，对不同类别的金融资产， 分别进行会计计量，及减值处理。对于存在客观证据表明存在减值，以及其他适 用于单项评估的应收账款，其他应收款及长期应收款等单独进行减值测试，确认 上海锦和商业经营管理（集团）股份有限公司 关于 2025 年前三季度计提资产减值准备的公告 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。 一、本次计提资产减值准备的概况 根据《企业会计准则》及上海锦和商业经营管理（集团）股份有限公司（以 下简称"公司"）会计政策相关规定，为了真实、客观反映公司财务状况、经营 成果，对截至 2025 年 9 月 30 日的各项需要计提减值的资产进行了减值测试，并 计提了相应的减值损失，共计提减值损失 1,739,449.13 元。具体如下： | 项目 | 本期发生额（ ...

证券代码：603682 证券简称：锦和商管 公告编号：2025- 046 上海锦和商业经营管理（集团）股份有限公司 第五届董事会第十三次会议决议公告 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法律责任。 一、董事会会议召开情况 （一）本次董事会会议的召开符合《公司法》和《公司章程》的有关规定。 （二）本次董事会会议通知和议案材料于 2025 年 10 月 24 日以书面及电子邮 件形式送达全体董事。 （三）本次董事会会议于 2025 年 10 月 30 日以现场结合通讯的方式召开。 （四）本次董事会会议应参加董事 9 人，实际参加董事 9 人。 （五）本次董事会会议由董事长郁敏珺女士主持。 二、董事会会议审议情况 经审议，董事会认为《2025 年第三季度报告》的编制和审核程序符合相关法 律法规及《公司章程》的相关规定，能够公允地反映公司报告期内的财务状况和 经营成果。董事会全体成员保证公司 2025 年第三季度报告披露的信息真实、准确、 完整，不存在任何虚假记载、误导性陈述或重大遗漏，并对其内容的真实性、准 确性和完整性承担个别和连 ...

Financial Performance - The company's operating revenue for the third quarter was ¥238,430,987.02, a decrease of 7.31% compared to the same period last year[4] - The total profit for the quarter was ¥11,141,078.83, down 6.96% year-on-year, while the net profit attributable to shareholders was ¥10,416,420.75, a decline of 27.89%[4] - Basic earnings per share for the quarter were ¥0.02, a decrease of 33.33% compared to the same period last year, while diluted earnings per share also stood at ¥0.02[5] - The weighted average return on equity was 1.05%, a decrease of 0.24 percentage points compared to the previous year[5] - The net profit attributable to shareholders for the year-to-date period increased by 127.98% due to performance commitments related to the acquisition of Tongchang Shengye[9] - The total profit for the year-to-date period saw a significant increase of 204.92%, attributed to adjustments in the acquisition consideration[9] - The net profit for Q3 2025 was CNY 77,090,695.06, a significant increase from CNY 24,791,389.76 in Q3 2024, representing a growth of approximately 210%[27] - The net profit attributable to shareholders of the parent company was CNY 85,868,818.88, up from CNY 37,665,847.80 in the same period last year, indicating a growth of about 128%[27] - The basic and diluted earnings per share for Q3 2025 were both CNY 0.18, compared to CNY 0.08 in Q3 2024, reflecting a 125% increase[27] Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period was ¥457,204,065.36, representing a decrease of 14.78% compared to the previous year[4] - Cash flow from operating activities for the first three quarters of 2025 was CNY 457,204,065.36, down from CNY 536,498,347.24 in the same period of 2024, a decrease of approximately 15%[29] - Total cash inflow from investment activities was CNY 491,861,819.80, compared to CNY 832,422,948.00 in the previous year, showing a decline of about 41%[30] - Cash flow from financing activities resulted in a net outflow of CNY 579,713,556.49, compared to a net outflow of CNY 475,661,061.06 in the same period last year, indicating an increase in cash outflow[30] - Cash and cash equivalents decreased to CNY 154,737,948.30 as of September 30, 2025, from CNY 244,805,784.33 at the end of 2024, representing a decline of 36.8%[21] - Total current assets amounted to CNY 450,581,085.80 as of September 30, 2025, down 15.2% from CNY 531,091,158.58 at the end of 2024[21] - Non-current assets totaled CNY 4,401,453,535.07 as of September 30, 2025, a decrease of 11.2% from CNY 4,959,642,968.78 at the end of 2024[22] Shareholder Information - The controlling shareholder, Shanghai Jinhui Investment Group, pledged 16.42% of its shares, totaling 45 million shares, as of April 9, 2025[18] - The total number of common shareholders at the end of the reporting period was 18,216[12] - The top ten shareholders held a combined 58.00% of the shares, with Shanghai Jinhui Investment Group alone holding 274,050,000 shares[12] Operational Focus and Strategy - The company is focusing on cost control and efficiency improvements to enhance profitability in the upcoming periods[10] - The company plans to focus on high-efficiency projects and exit less profitable ones in response to increasing external uncertainties[15] - The company adjusted its internal supervision structure, abolishing the supervisory board and transferring its responsibilities to the audit committee of the board[16] Other Financial Metrics - Total operating revenue for the first three quarters of 2025 was CNY 729,157,288.30, a decrease of 5.9% compared to CNY 774,764,397.33 in the same period of 2024[26] - Total operating costs for the first three quarters of 2025 were CNY 752,050,677.97, down 5.5% from CNY 795,946,923.22 in the previous year[26] - Operating profit for the first three quarters of 2025 was CNY 66,017,328.45, compared to a loss of CNY 6,269,206.13 in the same period of 2024[26] - Total profit for the first three quarters of 2025 reached CNY 105,939,175.48, significantly up from CNY 34,743,418.46 in 2024[26] - Accounts receivable increased to CNY 188,477,418.74 as of September 30, 2025, up 43.7% from CNY 131,118,769.32 at the end of 2024[21] - Total liabilities decreased to CNY 3,878,098,286.06 as of September 30, 2025, down 12.6% from CNY 4,437,974,587.45 at the end of 2024[23] - Shareholders' equity decreased to CNY 973,936,334.81 as of September 30, 2025, from CNY 1,052,759,539.91 at the end of 2024, reflecting a decline of 7.5%[23] Non-Recurring Items - Non-recurring gains and losses for the quarter included government subsidies amounting to ¥1,842,955.68 and other non-operating income of ¥13,057,974.04[7] - The company reported a net profit of 176,000 RMB after deducting non-recurring gains and losses, a turnaround from a loss in the same period last year, attributed to effective cost control and focus on high-efficiency projects[15] - The company did not report any net profit from subsidiaries prior to the merger, indicating no contribution from merged entities in the current period[28] Accounting Standards - The company has not adopted new accounting standards or interpretations that would affect the financial statements for the current year[31]

Core Viewpoint - The announcement reveals that the controlling shareholder, Jinhua Group, has pledged 20 million shares to Chang'an International Trust Co., Ltd. for debt repayment purposes, indicating a strategic financial maneuver by the company [1] Group 1: Shareholding and Pledge Details - Jinhua Group holds 274 million shares, representing 58.00% of the total share capital [1] - After the recent pledge, Jinhua Group has a total of 52 million shares pledged, which accounts for 18.97% of its holdings and 11.01% of the company's total share capital [1] - The pledge period is set from October 29, 2025, to April 29, 2026 [1] Group 2: Purpose and Conditions of the Pledge - The financing from the pledged shares is specifically intended for debt repayment [1] - There are no guarantees or collateral arrangements related to major asset restructuring or performance compensation associated with this pledge [1]