（记者 王晓波） 每经AI快讯，新澳股份（SH 603889，收盘价：7.98元）10月27日晚间发布三季度业绩公告称，2025年 前三季度营收约38.94亿元，同比增加0.6%；归属于上市公司股东的净利润约3.77亿元，同比增加 1.98%；基本每股收益0.52元，同比增加0%。 截至发稿，新澳股份市值为58亿元。 每经头条（nbdtoutiao）——独家丨民营船王入主杉杉集团横生枝节 重整联合体浮现神秘组局人 ...

浙江新澳纺织股份有限公司（以下简称"公司"）第六届董事会第二十四次 会议于 2025 年 10 月 27 日在公司会议室以现场方式召开，本次会议通知于 2025 年 10 月 17 日以书面、电话等方式通知全体董事、高级管理人员。会议由董事长 沈建华先生召集并主持，会议应出席董事 9 人，实际出席董事 9 人。本次会议的 召集和召开程序符合《公司法》和《公司章程》的规定，会议合法有效。 二、董事会会议审议情况 （一）审议并通过了《公司 2025 年第三季度报告》 本议案事前已经公司董事会审计委员会审议通过，并同意提交至公司董事会 审议。 表决结果：同意 9 票、反对 0 票、弃权 0 票。 证券代码：603889 证券简称：新澳股份 公告编号：2025-045 浙江新澳纺织股份有限公司 第六届董事会第二十四次会议决议公告 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个别及连带责任。 一、董事会会议召开情况 浙江新澳纺织股份有限公司董事会 2025 年 10 月 28 日 特此公告。 ...

Market Overview - The textile manufacturing sector increased by 0.84% compared to the previous trading day, with Fu Chun Dyeing and Weaving leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Stock Performance - Notable gainers in the textile manufacturing sector included: - Li Shi Sen Xin (605189) with a closing price of 19.11, up 7.48% with a trading volume of 98,700 shares and a turnover of 184 million yuan [1] - Gu Qi Rong Cai (001390) closed at 27.30, up 2.52% with a trading volume of 79,600 shares and a turnover of 218 million yuan [1] - Yun Zhong Ma (603130) closed at 40.88, up 1.92% with a trading volume of 28,800 shares and a turnover of 118 million yuan [1] Fund Flow Analysis - The textile manufacturing sector experienced a net outflow of 69.19 million yuan from institutional funds, while retail investors saw a net inflow of 85.24 million yuan [2] - The top stocks by net inflow from retail investors included: - Li Shi Sen Xin (605189) with a net inflow of 14.86 million yuan [3] - Bai Long Dong Fang (662109) with a net inflow of 10.31 million yuan [3] - Xin Long Holdings (000955) with a net inflow of 6.24 million yuan [3]

Financial Performance - The company's operating revenue for the third quarter reached CNY 1,340,036,357.80, representing a year-on-year increase of 1.90%[4] - The total profit for the quarter was CNY 135,890,900.88, reflecting a growth of 6.73% compared to the same period last year[4] - The net profit attributable to shareholders was CNY 106,767,298.46, which is an increase of 2.76% year-on-year[4] - The net profit after deducting non-recurring gains and losses was CNY 103,377,238.06, showing an increase of 11.08% compared to the previous year[4] - The basic earnings per share for the quarter was CNY 0.15, while the diluted earnings per share also stood at CNY 0.15, marking a 7.14% increase year-on-year[5] - Total operating revenue for the first three quarters of 2025 reached CNY 3,894,477,767.08, a slight increase from CNY 3,871,374,868.10 in the same period of 2024, representing a growth of approximately 0.6%[19] - Net profit for the first three quarters of 2025 was CNY 406,125,848.37, compared to CNY 391,378,615.45 in 2024, indicating an increase of approximately 3.7%[20] Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 6,574,555,563.03, which is a 15.56% increase from the end of the previous year[5] - The company's total liabilities increased to CNY 2,628,665,530.58 from CNY 2,138,194,029.31, marking a rise of about 22.9%[16] - The total equity attributable to shareholders rose to CNY 3,596,713,850.83 from CNY 3,403,635,216.49, an increase of approximately 5.7%[16] Cash Flow - The cash flow from operating activities for the year-to-date was CNY 243,851,082.33, showing a decrease of 8.32%[5] - Cash inflow from operating activities for the first three quarters of 2025 was approximately $3.76 billion, a slight increase from $3.73 billion in the same period of 2024, reflecting a growth of about 0.82%[23] - Net cash flow from operating activities decreased to approximately $243.85 million in 2025 from $265.97 million in 2024, representing a decline of about 8.31%[24] - The cash flow from operating activities was positively impacted by a tax refund of approximately $123.15 million in 2025, compared to $97.21 million in 2024, representing an increase of about 26.77%[23] Shareholder Information - The company reported a total of 16,027 common shareholders at the end of the reporting period[10] - Zhejiang Xin'ao Industrial Co., Ltd. holds the largest share with 30.50% of total shares outstanding[10] - The top ten shareholders collectively hold significant stakes, with the largest individual shareholder, Shen Jianhua, owning 14.22%[10] Research and Development - Research and development expenses for the first three quarters of 2025 were CNY 85,771,825.18, slightly down from CNY 86,510,545.11 in 2024[19] Financial Accuracy and Compliance - The company has ensured the accuracy and completeness of the financial information in the report, with all responsible parties bearing legal liability for any misstatements[2] Investment Activities - Cash outflow from investment activities in the first three quarters of 2025 was approximately $350.54 million, significantly lower than $617.72 million in 2024, indicating a reduction of about 43.29%[24] - The cash paid for purchasing fixed assets and other long-term assets in 2025 was approximately $210.35 million, a significant decrease from $605.71 million in 2024, reflecting a reduction of about 65.32%[24] Other Comprehensive Income - The company’s other comprehensive income after tax increased to CNY 15,225,197.31 from CNY 8,977,552.93, representing an increase of approximately 69.5%[21]

Investment Rating - The report maintains a "Buy" rating for several key companies in the textile and apparel industry, including Shenzhou International, Anta Sports, Li Ning, and Bosideng, among others [10][24][41]. Core Views - The textile and apparel industry is experiencing a recovery in retail sales, with clothing retail sales growing by 4.7% year-on-year in September 2025, indicating a positive trend [1][15]. - E-commerce sales in the apparel sector are outperforming offline channels, with online retail sales of physical goods reaching 915.28 billion yuan, a growth of 6.5% [2][17]. - Companies like Nike are showing signs of improvement in their fundamentals, which is expected to benefit upstream manufacturing companies [3][21]. Summary by Sections Retail Sales Performance - In September 2025, the total retail sales of consumer goods increased by 3% year-on-year, with cumulative growth of 4.5% from January to September 2025 [1][15]. - Jewelry retail sales saw a significant increase of 9.7% year-on-year in September 2025, driven by rising gold prices [1][15]. E-commerce vs. Offline Sales - For the period from January to September 2025, offline retail sales in various channels showed mixed results, with convenience stores and supermarkets growing by 6.4% and 4.4%, respectively [2][17]. - The e-commerce channel accounted for 25% of total retail sales, with food, clothing, and daily necessities growing by 15.1%, 2.8%, and 5.7%, respectively [2][17]. Company Recommendations - The report highlights several companies with strong fundamentals and growth potential, including: - Shenzhou International and Huayi Group, benefiting from Nike's improved orders [3][21]. - Anta Sports, with a PE ratio of 17 times for 2025, and Li Ning, with a PE ratio of 18 times for 2025, both showing strong operational resilience [3][22]. - Bosideng, expected to see stable revenue growth during the autumn and winter seasons [4][35]. Market Trends - The textile and apparel sector is expected to continue its recovery, with companies focusing on product innovation and channel efficiency to enhance their market positions [3][23]. - The report notes that the overall textile and apparel sector has underperformed compared to the broader market, with the textile manufacturing sector growing by 2.11% and the brand apparel sector by 1.62% [29][30].

Company Overview - Zhejiang Xin'ao Textile Co., Ltd. was established on September 8, 1995, and listed on December 31, 2014. The company specializes in the research, production, and sales of wool yarn, wool tops, and cashmere yarn [2] - The main revenue composition includes: fine wool yarn 56.11%, cashmere 30.77%, wool tops 11.87%, modified processing, dyeing, and cashmere processing 0.78%, and others 0.48% [2] Stock Performance - Xin'ao shares have increased by 18.33% year-to-date, with a 3.93% rise in the last five trading days, 28.69% in the last 20 days, and 31.02% in the last 60 days [2] - As of October 24, the stock price was 7.94 CNY per share, with a market capitalization of 5.799 billion CNY [1] Trading Activity - On October 10, Xin'ao shares appeared on the trading leaderboard with a net buy of -50.8695 million CNY, total buy of 112 million CNY (27.48% of total trading volume), and total sell of 163 million CNY (39.94% of total trading volume) [2] - As of October 24, the main funds had a net inflow of 1.8281 million CNY, with significant buying and selling activity [1] Financial Performance - For the period from January to June 2025, Xin'ao achieved operating revenue of 2.554 billion CNY, a slight decrease of 0.08% year-on-year, while net profit attributable to shareholders was 271 million CNY, an increase of 1.67% [2] - Since its A-share listing, Xin'ao has distributed a total of 1.372 billion CNY in dividends, with 643 million CNY distributed in the last three years [3] Shareholder Information - As of June 30, 2025, the number of shareholders increased to 14,700, with an average of 48,921 circulating shares per person, a decrease of 2.17% from the previous period [2]

Market Overview - The entertainment products sector increased by 0.8% on October 23, with Zhujiang Piano leading the gains [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Top Performers - Zhujiang Piano (002678) closed at 6.19, up 9.95% with a trading volume of 721,500 shares and a transaction value of 443 million [1] - Sanbai Shuo (001300) closed at 15.59, up 3.66% with a trading volume of 79,300 shares and a transaction value of 124 million [1] - Zhejiang Zhengte (001238) closed at 50.51, up 2.98% with a trading volume of 46,626 shares and a transaction value of 33.21 million [1] Underperformers - Qunxing Toys (002575) closed at 6.36, down 3.49% with a trading volume of 450,700 shares and a transaction value of 288 million [2] - Gao Le Co. (002348) closed at 4.15, down 3.04% with a trading volume of 358,800 shares and a transaction value of 149 million [2] - Tianyuan Pet (301335) closed at 30.30, down 1.46% with a trading volume of 22,900 shares and a transaction value of 69.39 million [2] Capital Flow - The entertainment products sector experienced a net outflow of 93.73 million from institutional investors, while retail investors saw a net inflow of 70.65 million [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Individual Stock Capital Flow - Source Pet (001222) had a net inflow of 18.69 million from institutional investors, but a net outflow of 9.57 million from speculative funds [3] - Guangbo Co. (002103) saw a net inflow of 18.66 million from institutional investors, but a significant net outflow of 19.70 million from retail investors [3] - Zhejiang Zhengte (001238) had a net inflow of 1.46 million from institutional investors, while speculative funds and retail investors experienced net outflows [3]

Group 1 - The core point of the news is that Zhejiang Xin'ao Textile Co., Ltd. has seen a stock price increase of 5.04%, reaching 7.92 CNY per share, with a total market capitalization of 5.784 billion CNY [1] - The company was established on September 8, 1995, and went public on December 31, 2014. Its main business involves the research, production, and sales of wool yarn, wool tops, and cashmere yarn [1] - The revenue composition of the company's main business includes: fine wool yarn 56.11%, cashmere 30.77%, wool tops 11.87%, modified processing, dyeing, and cashmere processing 0.78%, and others 0.48% [1] Group 2 - From the perspective of fund holdings, one fund under Galaxy Fund has a significant position in Xin'ao shares. Galaxy Meili Mixed A (519664) reduced its holdings by 468,400 shares in the second quarter, retaining 1.1546 million shares, which accounts for 3.06% of the fund's net value [2] - The fund has achieved a floating profit of approximately 438,700 CNY today [2] - Galaxy Meili Mixed A was established on May 29, 2014, with a current scale of 169 million CNY. Year-to-date returns are 14.04%, ranking 5007 out of 8162 in its category; the one-year return is 14.87%, ranking 4628 out of 8024; and since inception, the return is 140.08% [2]

Investment Rating - The report maintains an "Overweight" rating for the industry [4] Core Views - The report emphasizes the importance of valuation switching logic in the new consumption sector, highlighting stable operational performance in the sports brand sector for Q3 [6][4] - It suggests a focus on high-growth tracks in new consumption and the valuation switching logic within the sector, particularly in the collectible toy segment [6][4] - The report identifies several companies with strong growth potential and suggests monitoring their performance closely [6][4] Summary by Sections Industry Overview - The industry consists of 175 listed companies with a total market value of 10,672.79 billion and a circulating market value of 8,623.31 billion [2] Market Performance - The Shanghai Composite Index decreased by 1.47%, while the Shenzhen Component Index fell by 4.99% during the week of October 13-17, 2025 [6][11] - The light industry manufacturing index dropped by 2.22%, ranking 13th among 28 Shenwan industries, while the textile and apparel index decreased by 0.31%, ranking 5th [6][11] Key Company Insights - Companies such as Bubble Mart are expected to release Q3 operational data, with new product launches anticipated to drive performance in Q4 [6] - 361 Degrees reported a stable performance with a 10% increase in offline and children's clothing sales, and a 20% increase in e-commerce sales [6] - Anta Sports, Li Ning, and other functional apparel brands are highlighted for their growth potential [6] Investment Opportunities - The report suggests focusing on the acceleration of the Chinese consumption supply chain going overseas, particularly in non-woven fabric manufacturing [6][7] - Companies like Yanjiang Co. are recommended for their advanced production techniques and global supply chain capabilities [7] - The pet supplies sector is also highlighted, with companies like Yuanfei Pet expected to benefit from growth in both OEM and OBM businesses [6][7] Sector Recommendations - The report recommends monitoring companies in the home furnishing sector, such as Xilinmen and Gujia Home, for potential recovery in performance and valuation [6] - In the paper industry, Sun Paper is recommended due to its integrated advantages and expected improvement in profitability [6][7] - The textile manufacturing sector suggests a focus on companies like Jingyuan International for their market share growth potential [6][7]

Company Overview - Zhejiang Xin'ao Textile Co., Ltd. is located in Tongxiang City, Zhejiang Province, established on September 8, 1995, and listed on December 31, 2014. The company's main business involves the research, production, and sales of wool yarn, wool tops, and cashmere yarn [2]. Financial Performance - For the first half of 2025, Xin'ao achieved operating revenue of 2.554 billion yuan, a slight decrease of 0.08% year-on-year, while net profit attributable to shareholders increased by 1.67% to 271 million yuan [2]. - Since its A-share listing, Xin'ao has distributed a total of 1.372 billion yuan in dividends, with 643 million yuan distributed over the past three years [3]. Stock Performance - As of October 17, Xin'ao's stock price increased by 2.12% to 7.71 yuan per share, with a total market capitalization of 5.631 billion yuan. The stock has risen by 14.90% year-to-date, with a 0.64% decline over the last five trading days, a 23.76% increase over the last 20 days, and a 31.35% increase over the last 60 days [1][2]. - The stock has appeared on the "Dragon and Tiger List" once this year, with the most recent appearance on October 10, where it recorded a net buy of -50.8695 million yuan [2]. Shareholder Information - As of June 30, 2025, Xin'ao had 14,700 shareholders, an increase of 2.22% from the previous period, with an average of 48,921 circulating shares per person, a decrease of 2.17% [2]. - The top ten circulating shareholders saw a change, with the "Jiaoyin New Vitality Flexible Allocation Mixed A" fund exiting the list [3]. Capital Flow - On October 17, the net inflow of main funds was 1.1989 million yuan, with large orders accounting for 14.12% of total purchases and 17.33% of total sales [1].