Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The company experienced a decline in profit margins due to increased competition and the need for time to ramp up new product volumes, leading to a downward revision of profit forecasts for 2025-2027 [4][5] - The company achieved a revenue of 337 million yuan in the first three quarters of 2025, a year-on-year decrease of 7.46%, with a net profit attributable to the parent company of -16.39 million yuan, indicating an expanded loss [5] - The company is optimistic about the future of its COC (Cyclic Olefin Copolymer) production, which has entered the formal production phase and is expected to be a significant growth driver [5] Financial Summary - Revenue for Q3 2025 was 123 million yuan, a year-on-year increase of 0.79%, while the net profit attributable to the parent company was -11.08 million yuan, reflecting an expanded loss [5] - The company’s sales volume for fatty amines and optical materials in the first three quarters of 2025 were 14,881 tons and 4,151 tons, respectively, with year-on-year changes of +3.27% and -16.83% [5] - The average price for fatty amines decreased by 10.23% to 13,324 yuan/ton, while the average price for optical materials increased by 10.75% to 33,303 yuan/ton [5] - The company’s projected net profits for 2025, 2026, and 2027 are 5 million yuan, 44 million yuan, and 139 million yuan, respectively, with corresponding EPS of 0.05, 0.45, and 1.42 yuan per share [4][7] Production and Contracts - The company signed a sales contract for COC with a transaction amount of 2.6 million yuan, marking a milestone in its entry into the pharmaceutical packaging sector [5] - The COC production line has completed trial production and is now in formal production, with initial products being tested by downstream clients in various fields [5]

Group 1 - The company announced its third quarter financial report for 2025, ensuring the accuracy and completeness of the information provided [8][10][39] - The company plans to apply for a bank credit limit of up to 200 million RMB for its subsidiary to support daily operations and business development [10][11] - The company will use idle funds for entrusted wealth management, with a maximum amount of 200 million RMB, aiming to improve fund efficiency and returns [13][14][15] Group 2 - The company held its sixth board meeting on October 24, 2025, where several key resolutions were passed, including the approval of the third quarter report and the application for bank credit [39][40][41] - The company will convene its third extraordinary shareholders' meeting on November 10, 2025, to discuss various proposals [20][21][22] - The company plans to provide a loan of up to 50 million RMB to its wholly-owned subsidiary to support its development and operational needs [54][55][56]

Group 1 - Acolyte (SH 603722) announced the convening of its fifth board meeting on October 24, 2025, to review the proposal for the third quarter report of 2025 [1] - For the year 2024, Acolyte's revenue composition is 99.84% from chemical products and 0.16% from other businesses [1] - As of the report, Acolyte's market capitalization stands at 3.9 billion yuan [1] Group 2 - The Chinese innovative drug sector has generated $80 billion in overseas licensing deals this year [1] - The secondary market for biomedicine is experiencing a surge, while the primary market is facing challenges in fundraising [1]

Core Viewpoint - Akole (603722.SH) reported a decline in revenue and incurred losses in the first three quarters of 2025, indicating financial challenges for the company [2] Financial Performance - The company achieved a revenue of 337 million yuan in the first three quarters, representing a year-on-year decrease of 7.46% [2] - The net profit attributable to shareholders was a loss of 16.39 million yuan [2] - The non-recurring net profit also showed a loss of 19.35 million yuan [2] - Basic earnings per share were reported at -0.17 yuan [2]

Core Insights - Akole (603722.SH) reported a revenue of 337 million yuan for the first three quarters of 2025, representing a year-on-year decline of 7.46% [1] - The company recorded a net loss attributable to shareholders of 16.39 million yuan [1] - The non-recurring net profit also showed a loss of 19.35 million yuan, with basic earnings per share at -0.17 yuan [1]

无锡阿科力科技股份有限公司 章 程 二零二五年十月 1 第一章 总则 第一条 为维护无锡阿科力科技股份有限公司（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，制定本章程。 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。 公司以有限公司整体变更的方式发起设立；在江苏省无锡市工商行政管理局 注册登记，取得营业执照，统一社会信用代码为 9132020071491965XM。 第三条 公司于 2017 年 9 月 22 日经中国证券监督管理委员会核准，首次向 社会公众发行人民币普通股 2,170 万股，于 2017 年 10 月 25 日在上海证券交易 所上市。 第四条 公司注册名称： 中文全称：无锡阿科力科技股份有限公司 英文全称：WUXI ACRYL TECHNOLOGY CO.,LTD 第五条 公司住所：无锡市锡山区东港镇新材料产业园 邮政编码：214196 第六条 公司注册资本为人民币 9,772.0121 万元。 第七条 公司为永久存续的股份有限公司。 ...

证券代码：603722 证券简称:阿科力 公告编号：2025-082 无锡阿科力科技股份有限公司 | 第二十条 | 公司股份总数为 | 9,570.0121 | 第二十条 | 公司股份总数为 | 9,772.0121 | | --- | --- | --- | --- | --- | --- | | 万股，全部为人民币普通股。 | | | 万股，全部为人民币普通股。 | | | 除修改上述条款外，《公司章程》其他内容不变。 本次变更注册资本、修订《公司章程》相关事项尚需提交公司股东会审议批 准，并提请股东会授权公司董事会及其授权人士办理变更登记、章程备案等相关 事宜，最终内容以登记机关核准的内容为准。 关于变更公司注册资本、修订《公司章程》及办理工 商变更登记的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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 法律责任。 无锡阿科力科技股份有限公司（以下简称"公司"或"阿科力"）第五届董 事会第六次会议于 2025 年 10 月 24 日审议通过了《关于变更公司注册资本、修 订《公司章程》及办理工商变更登记的议 ...

（一）根据自有资金的情况和理财产品的市场状况，对最高额度不超过 20,000 万元的闲置自有资金进行委托理财，用于购买银行、证券公司、保险公司 或信托公司等金融机构理财产品。在确保不影响公司日常运营的情况下滚动使用， 自股东会审议通过之日起 12 个月内有效。授权公司总经理在上述额度内组织实 施。公司与理财产品发行主体不得存在关联关系。 证券代码：603722 证券简称:阿科力 公告编号：2025-083 无锡阿科力科技股份有限公司 关于使用闲置自有资金进行委托理财的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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 法律责任。 ●重要内容提示： 无锡阿科力科技股份有限公司（以下简称"公司"）于 2025 年 10 月 24 日召 开第五届董事会第六次会议，审议通过了《关于使用闲置自有资金进行委托理财 的议案》。在满足公司运营资金需要的前提下，为提高资金使用效率和资金收益 水平，为公司及股东谋取更多收益，根据自有资金的情况和理财产品的市场状况， 对最高额度不超过 20,000 万元的闲置自有资金进行委托理财，在确 ...

本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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 法律责任。 一、借款情况概述 为支持公司全资子公司的发展，满足其生产经营发展过程中的资金需求，降 低公司总体融资成本，在不影响自身运营的情况下，无锡阿科力科技股份有限公 司（以下简称"公司"）拟以自有资金向全资子公司阿科力科技（潜江）有限公司 提供总额不超过人民币 5,000 万元的借款。借款金额以实际发生额计算，并按照 同期银行贷款利率（单利）计息，借款期限最长不超过 5 年，具体内容以双方最 终签订的《借款协议》为准。 证券代码：603722 证券简称:阿科力 公告编号：2025-085 无锡阿科力科技股份有限公司 关于向全资子公司提供借款的公告 3、经营范围：一般项目：技术服务、技术开发、技术咨询、技术交流、技 术转让、技术推广；专用化学产品制造（不含危险化学品）；合成材料制造（不 含危险化学品）；化工产品生产（不含许可类化工产品）；化工产品销售（不含 许可类化工产品）；专用化学产品销售（不含危险化学品）；新材料技术推广服 务；新材料技术研发；技术进出口；货物进 ...

证券代码：603722 证券简称:阿科力 公告编号：2025-081 无锡阿科力科技股份有限公司 关于 2026 年度申请银行综合授信额度的公告 为满足公司日常经营及业务发展需要，公司 2026 年度拟向银行申请不超过 55,000 万元人民币的综合授信额度，具体拟授信额度如下： 单位：万元 币种：人民币 | 序号 | 银行 | 授信额度 | | --- | --- | --- | | 1 | 中国银行股份有限公司无锡锡山支行 | 30,000 | | 2 | 中信银行股份有限公司无锡五爱支行 | 10,000 | | 3 | 中国招商银行股份有限公司无锡分行 | 10,000 | | 4 | 中国工商银行股份有限公司无锡锡山支行 | 5,000 | | | 合 计 | 55,000 | 综合授信品种包括但不限于：流动资金借款、开具银行承兑汇票、开具保函、 开具信用证、应收账款保理、银行资金池等业务。 以上拟申请的授信额度是公司与相关银行初步协商后制订的预案，最终融资 金额仍需与银行进一步协商后确定，相关融资事项以正式签署的协议为准。该额 度项下的具体授信品种及额度分配、授信的期限、具体授信业务的利率、费率等 ...