Core Viewpoint - Qin'an Co., Ltd. has experienced a decline in stock price, with a 5.01% drop on September 2, 2023, and a cumulative decline of 5.79% over three consecutive days, indicating potential concerns among investors [1]. Company Overview - Qin'an Co., Ltd. is located in the Xipeng Industrial Park, Jiulongpo District, Chongqing, and was established on September 5, 1995. The company was listed on May 17, 2017 [1]. - The main business involves the research, production, and sales of core components for automotive engines, including cylinder blocks, cylinder heads, and crankshafts [1]. - The revenue composition of the main business is as follows: cylinder heads 54.87%, cylinder blocks 19.36%, transmission cases and others 13.34%, crankshafts 10.47%, and others 1.95% [1]. Fund Holdings - According to data, one fund under Fuyong Fund holds a significant position in Qin'an Co., Ltd. The Fuyong Fuxin Mixed A Fund (005164) held 139,700 shares in the second quarter, accounting for 5.18% of the fund's net value, making it the sixth-largest holding [2]. - The fund has incurred a floating loss of approximately 104,800 yuan today, with a total floating loss of 128,500 yuan during the three-day decline [2]. Fund Manager Performance - The fund manager of Fuyong Fuxin Mixed A Fund is Li Yanzheng, who has been in the position for 4 years and 78 days, with a total asset scale of 288 million yuan. The best fund return during his tenure is 52.14%, while the worst is -31.03% [3]. - The co-manager, Mao Yunhong, has been in the position for 97 days, managing assets of 44.42 million yuan, with a best return of 9.35% and a worst return of 9.32% during his tenure [3].

Group 1 - The core point of the article is the resignation of Ms. Yang Binruo from her position as the securities affairs representative of Qin'an Co., Ltd. due to work adjustment reasons [2] - Ms. Yang's resignation will take effect from the date it is delivered to the company's board of directors [2] - Despite resigning from the securities affairs representative position, Ms. Yang will continue to hold other positions within the company [2]

证券代码：603758 证券简称：秦安股份 公告编号：2025-032 重庆秦安机电股份有限公司 关于证券事务代表辞职的公告 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。 重庆秦安机电股份有限公司（下称"公司"）证券事务代表杨彬若女士因工 作调整原因申请辞去证券事务代表职务，辞职申请自送达公司董事会之日起生效。 杨彬若女士辞去证券事务代表职务后，仍继续在公司担任其他职务。 杨彬若女士的辞职不会影响公司相关工作的正常开展，公司董事会将根据 《上海证券交易所股票上市规则》等相关规定尽快聘任符合资格的人员担任证券 事务代表，协助公司董事会秘书工作。 杨彬若女士在担任证券事务代表期间恪尽职守、勤勉尽责，公司董事会对杨 彬若女士在任职期间所做的工作表示衷心感谢！ 特此公告。 重庆秦安机电股份有限公司董事会 2025 年 9 月 2 日 ...

Financial Performance - The company reported a total revenue of 675 million yuan for the first half of 2025 [1] - The net profit attributable to shareholders reached 80.39 million yuan, an increase of 18.54 million yuan compared to the same period last year, representing a year-on-year growth of 29.97% [1] - The net cash inflow from operating activities was 115 million yuan [1] Financial Ratios - The latest debt-to-asset ratio is 11.41%, a decrease of 0.97 percentage points from the previous quarter and a decrease of 3.86 percentage points from the same period last year [3] - The latest gross profit margin stands at 21.85% [3] - The return on equity (ROE) is 3.23%, an increase of 0.67 percentage points compared to the same period last year [3] Earnings Per Share - The diluted earnings per share (EPS) is 0.19 yuan, an increase of 0.05 yuan compared to the same period last year, reflecting a year-on-year increase of 35.71% [3] Asset Management - The total asset turnover ratio is 0.24 times [3] - The inventory turnover ratio is 2.17 times [3] Shareholder Structure - The number of shareholders is 13,200, with the top ten shareholders holding a total of 314 million shares, accounting for 71.54% of the total share capital [3] - The largest shareholder is Yuanming Tang, holding 64.71 million shares [3]

Core Viewpoint - Qin'an Co., Ltd. reported a decline in total revenue for the first half of 2025, while net profit increased significantly, indicating mixed financial performance amid industry challenges [1]. Financial Performance Summary - Total revenue for the first half of 2025 was 675 million yuan, a decrease of 13.18% compared to 778 million yuan in the same period of 2024 [1]. - Net profit attributable to shareholders reached 80.39 million yuan, up 29.97% from 61.85 million yuan year-on-year [1]. - The gross profit margin was 21.85%, down 9.73% from 24.21% in the previous year [1]. - The net profit margin improved to 11.90%, an increase of 49.70% from 7.95% [1]. - The total of selling, administrative, and financial expenses was 38.68 million yuan, accounting for 5.73% of revenue, a decrease of 6.89% year-on-year [1]. - Earnings per share rose to 0.19 yuan, a 35.71% increase from 0.14 yuan [1]. Accounts Receivable and Cash Flow - Accounts receivable amounted to 290 million yuan, representing a 9.60% increase from 265 million yuan [1]. - The ratio of accounts receivable to net profit reached 167.97%, indicating a significant amount of receivables relative to profit [10]. - Operating cash flow per share decreased to 0.26 yuan, down 49.68% from 0.52 yuan [1][6]. Changes in Financial Items - Significant changes in financial items included a 653.11% increase in accounts receivable financing due to higher credit bank acceptance bills [2]. - Contract liabilities increased by 225.49% due to a rise in advance payments [3]. - Other current liabilities surged by 741.39%, attributed to increased tax prepayments [4]. Investment and Return Metrics - The company's return on invested capital (ROIC) was 6.23%, indicating average capital returns [8]. - The historical median ROIC since the company went public is 9.1%, with one year showing a negative ROIC of -3.49% [8]. Fund Holdings - Notable funds holding Qin'an shares include Nu'an Flexible Allocation Mixed Fund and Nu'an Hengxin Mixed Fund, indicating growing institutional interest [11].

Core Viewpoint - Qin'an Co., Ltd. reported a slight decline in revenue for the first half of 2025, but achieved a significant increase in net profit, indicating a strong performance despite revenue challenges [1] Financial Performance - The company achieved an operating income of 675 million yuan, a year-on-year decrease [1] - The net profit attributable to shareholders reached 80.39 million yuan, with a growth rate of 29.97% [1] - Earnings per share were reported at 0.19 yuan [1] - As of the end of June, total assets amounted to 2.809 billion yuan, with net assets of 2.488 billion yuan and total liabilities of 321 million yuan, resulting in a low asset-liability ratio of 11.41% [1] Business Development - The company focused on solidifying its core business, maintaining stable business volume with quality clients, and actively expanding market opportunities [1] - Key clients include major automotive manufacturers such as Changan Ford, Li Auto, and Dongfeng Motor, reflecting a broad customer base in both passenger and commercial vehicle sectors [1] - The company is pursuing growth through mergers and acquisitions, targeting entities with strong profitability and growth potential, exemplified by its plan to acquire Anhui Yigao Optoelectronics Technology Co., Ltd. [1]

Core Viewpoint - Qin'an Co., Ltd. reported a decline in revenue but an increase in net profit for the first half of 2025, indicating a mixed financial performance amidst ongoing developments in the automotive sector [1] Financial Performance - For the first half of 2025, the company achieved an operating income of 675 million yuan, a year-on-year decrease of 13.18% [1] - The net profit attributable to shareholders was 80.39 million yuan, reflecting a year-on-year increase of 29.97% [1] - The company's asset-liability ratio stood at 11.41%, indicating a strong financial position [1] Market Activity - As of August 22, 2025, the stock price of Qin'an Co., Ltd. was 15.67 yuan, down 0.63 yuan or 3.87% from the previous trading day [1] - The trading volume for the day was 311,831 hands, with a total transaction amount of 496 million yuan [1] - On the same day, the net outflow of main funds was 76.26 million yuan, accounting for 1.11% of the circulating market value [1] - Over the past five days, the net inflow of main funds was 46.47 million yuan, representing 0.68% of the circulating market value [1] Business Development - Qin'an Co., Ltd. is engaged in the research, production, and sales of core components for automotive engines, including cylinder blocks, cylinder heads, and crankshafts [1] - The company operates in both traditional fuel vehicles and new energy vehicles sectors, with clients including well-known automakers such as Changan Ford, Li Auto, and FAW Group [1] - Progress has been made in the development of hybrid drive systems, with related sample development completed as planned [1] - The acquisition of 99% equity in Anhui Yigao Optoelectronics Technology marks the company's entry into the high-end vacuum coating field, expanding into the sensor sector and actively seeking new business growth points [1]

Meeting Details - The 11th meeting of the 5th Supervisory Board of Chongqing Qin'an Electromechanical Co., Ltd. was held on August 22, 2025, combining on-site and remote participation [1] - The meeting was convened by the chairman of the Supervisory Board, Liu Jiaki, and complied with relevant laws and regulations [1] Resolutions Passed - The Supervisory Board approved the proposal regarding the 2025 semi-annual report (full text and summary) with a unanimous vote of 3 in favor, 0 against, and 0 abstentions [1] - The Supervisory Board confirmed that the semi-annual report and summary were prepared in accordance with legal and regulatory requirements, accurately reflecting the company's operational and financial status for the first half of 2025 [1] Additional Proposals - The Supervisory Board also approved the proposal to cancel the Supervisory Board and abolish the "Rules for Supervisory Board Meetings," which will require further approval from the shareholders' meeting [2] - Details regarding the cancellation and amendments to the company's governance documents will be disclosed on the Shanghai Stock Exchange website [2]

Meeting Information - The first extraordinary general meeting of 2025 will be held on September 8, 2025, at 1:00 PM [1] - The meeting will take place at the conference room of Qin'an Co., located at 58 Sendi Avenue, Xipeng Town, Jiulongpo District, Chongqing [1] - Voting will be conducted through a combination of on-site and online methods using the Shanghai Stock Exchange's voting system [1] Voting Procedures - Shareholders can vote via the Shanghai Stock Exchange's online voting system from 9:15 AM to 3:00 PM on the day of the meeting [1][2] - Shareholders holding multiple accounts can aggregate their voting rights across all accounts for the same category of shares [3][4] - Duplicate votes from the same shareholder will be counted based on the first voting result [4] Attendance and Registration - Shareholders registered with the China Securities Depository and Clearing Corporation Limited as of the close of trading on September 3, 2025, are eligible to attend [5] - Registration for the meeting will occur on September 5, 2025, from 9:00 AM to 12:00 PM and 2:00 PM to 5:00 PM at the company's office [5] - Proxy representation is allowed, and the proxy does not need to be a shareholder [5] Additional Information - The meeting is expected to last half a day, and attendees are responsible for their own travel and accommodation expenses [6] - Contact information for inquiries includes phone numbers and email addresses for company representatives [6]

Core Points - The company is holding its first extraordinary general meeting of shareholders in 2025 on September 8, 2025, at 1:00 PM in Chongqing [3] - The meeting will discuss several key proposals, including the reappointment of the auditing firm Tianjian and the cancellation of the supervisory board [4][8] - The company aims to enhance its corporate governance structure by revising its articles of association and related governance systems [9][10] Meeting Procedures - The meeting will be organized by the company's board office, and only authorized personnel will be allowed entry [2] - Shareholders wishing to speak must keep their comments concise, limited to three minutes, and relevant to the agenda [2] - Voting will be conducted through a combination of on-site and online methods, with each share carrying one vote [2][3] Proposals - Proposal 1: Reappointment of Tianjian Accounting Firm for the 2025 annual audit, with a total fee of 600,000 RMB for audit services [4][7] - Proposal 2: Cancellation of the supervisory board, transferring its responsibilities to the audit committee of the board [8][9] - Proposal 3: Revision and abolition of certain corporate governance systems to improve operational standards [9][10] Auditing Firm Details - Tianjian Accounting Firm has provided satisfactory services since its appointment, with a total revenue of 2.969 billion RMB and a securities business revenue of 1.465 billion RMB in the previous year [4][7] - The firm has faced some civil litigation in the past three years but has complied with all legal requirements and maintained its professional liability insurance [7][8] Governance Structure Changes - The company plans to amend its articles of association to reflect the cancellation of the supervisory board and to enhance its governance framework [9][10] - The proposed changes aim to streamline decision-making processes and improve compliance with regulatory standards [9][10]