Group 1 - The core point of the article is that Zhaoyi Innovation (SH 603986) announced its board meeting to review the Q3 2025 report, indicating ongoing corporate governance and financial transparency [1] - For the first half of 2025, Zhaoyi Innovation's revenue composition is entirely from integrated circuits and services, highlighting its focus on this sector [1] - As of the report, Zhaoyi Innovation has a market capitalization of 164.8 billion yuan, reflecting its significant position in the market [1] Group 2 - The A-share market has surpassed 4000 points, marking a significant recovery after a decade of stagnation, with technology stocks leading the market's resurgence [1] - The emergence of a "slow bull" market pattern suggests a new investment landscape, particularly in the technology sector [1]

Core Viewpoint - The company achieved significant revenue and profit growth in Q3 2025, driven by improvements in the DRAM industry supply dynamics [1] Financial Performance - In Q3 2025, the company reported revenue of 2.681 billion yuan, representing a year-on-year increase of 31.40% [1] - The net profit attributable to shareholders for Q3 2025 was 508 million yuan, showing a year-on-year growth of 61.13% [1] - For the first three quarters of 2025, the company achieved total revenue of 6.832 billion yuan, up 20.92% year-on-year [1] - The net profit attributable to shareholders for the first three quarters was 1.083 billion yuan, reflecting a year-on-year increase of 30.18% [1] Industry Context - The growth in the company's performance is primarily attributed to the continuous improvement in the supply structure of the DRAM industry, leading to a favorable "price and volume increase" scenario [1]

Group 1 - The core viewpoint of the news is that兆易创新科技集团股份有限公司 (Zhaoyi Innovation) reported strong financial performance for the first three quarters of 2025, with significant revenue and profit growth driven by favorable market conditions in the DRAM industry and diversified product offerings [2] - For the first three quarters, Zhaoyi Innovation achieved operating revenue of 6.832 billion yuan, representing a year-on-year increase of 20.92%, and a net profit attributable to shareholders of 1.083 billion yuan, reflecting a year-on-year growth of 30.18% [2] - The revenue growth is attributed to the continuous improvement in the supply structure of the DRAM industry, leading to a favorable "price and volume increase" scenario, along with rising demand in consumer, industrial, and automotive sectors, which synergized with the company's diverse product matrix [2] Group 2 - As of the market close on October 28, Zhaoyi Innovation's stock price was 246.95 yuan per share, with a total market capitalization of 164.8 billion yuan, and the stock has seen a year-to-date increase of 131.97% [3]

Suspension and Resumption of Trading - Shiwai New Materials: The offer period for Zhi Yuan Heng Yue's acquisition has ended, and the stock is suspended for one day [1] - Zhongyuan Co., Ltd.: The actual controller is planning a change in company control, with a suspension period not exceeding three trading days [1] - Delong Huineng: The actual controller has changed to Ms. Sun Weijia, and the stock has resumed trading [1] Share Buyback - Haida Group: Plans to repurchase shares worth between 1 billion to 1.6 billion yuan, with a maximum repurchase price of 62.00 yuan per share [2] Investment Cooperation and Operational Status - Yunnan Energy Investment: Huaping Yuneng New Energy Co., Ltd. is investing in the Huaping West Wind Power Project with a capacity of 150 MW and a total investment of 780 million yuan; Honghe Yuneng Investment New Energy Development Co., Ltd. is investing in the Yongning Wind Power Project (Phase IV) with a capacity of 87.1 MW and a total investment of 453 million yuan; Yongsheng Yuneng New Energy Co., Ltd. is investing in the Aguzi Wind Power Project with a capacity of 100 MW and a total investment of 619 million yuan [3] - Xiasha Precision: Plans to raise no more than 800 million yuan through a private placement for the industrialization of core components of intelligent transmission systems, equipment development, technology research, and working capital [3] - Suzhou Tianmai: Plans to invest no more than 600 million yuan in the construction of an intelligent manufacturing base for thermal conductive products, which will add an annual production capacity of 18 million high-end uniform temperature plates [3] - Fulian Precision: Jiangxi Shenghua plans to invest in a new high-density lithium iron phosphate project with an annual production capacity of 350,000 tons in the Deyang-Abazhou Ecological Economic Industrial Park, with an estimated total investment of 4 billion yuan [3] - Renxin New Materials: Plans to invest in an integrated project for polystyrene new materials with a total investment of 3.8 billion yuan in cooperation with the Huizhou Daya Bay Economic and Technological Development Zone [3] - New World: Signed a cooperation agreement for GLP-1 class long-acting peptide innovative drugs [4] Performance Changes - Keli Yuan: Third-quarter net profit of 80.43 million yuan, a year-on-year increase of 2,836.88% [5] - Hailian Jinhui: Third-quarter net profit of 76.87 million yuan, a year-on-year increase of 1,000.56% [5] - Tianqiao Hoisting: Third-quarter net profit of 41.29 million yuan, a year-on-year increase of 618.70% [5] - Shengyi Electronics: Third-quarter net profit of 584 million yuan, a year-on-year increase of 545.95% [5] - Huasheng Tiancai: Third-quarter net profit of 219 million yuan, a year-on-year increase of 563.58% [5] - Boliang Optoelectronics: Third-quarter net profit of 11.53 million yuan, a year-on-year increase of 470.61% [5] - Geling Deep Vision: Third-quarter revenue of 51.76 million yuan, a year-on-year increase of 453.28% [5] - Jibite: Third-quarter net profit of 570 million yuan, a year-on-year increase of 307.70% [5] - Mingzhi Electric: Third-quarter net profit of 22.88 million yuan, a year-on-year increase of 215.97% [6] - Shengyi Technology: Third-quarter net profit of 1.017 billion yuan, a year-on-year increase of 131.18% [6] - Jingce Electronics: Third-quarter net profit of 72.42 million yuan, a year-on-year increase of 123.44% [6] - Feirongda: Third-quarter net profit of 120 million yuan, a year-on-year increase of 120.52% [6] - Xingqi Eye Medicine: Third-quarter net profit of 264 million yuan, a year-on-year increase of 117.45% [6] - State Grid Yingda: Third-quarter net profit of 1.086 billion yuan, a year-on-year increase of 102.49% [6] - Guanghong Technology: Third-quarter net profit of 99.61 million yuan, a year-on-year increase of 99.68% [6] - China Shipbuilding: Third-quarter net profit of 2.074 billion yuan, a year-on-year increase of 97.56% [6] - Huasheng Securities: Third-quarter net profit of 848 million yuan, a year-on-year increase of 97.61% [6] - Aofei Data: Third-quarter net profit of 57.55 million yuan, a year-on-year increase of 90.36% [6] - Giant Network: Third-quarter net profit of 640 million yuan, a year-on-year increase of 81.19% [6] - Tianneng Co., Ltd.: Third-quarter net profit of 491 million yuan, a year-on-year increase of 81.92% [6] - Yutong Bus: Third-quarter net profit of 1.357 billion yuan, a year-on-year increase of 78.98% [6] - Aerospace Intelligent Manufacturing: Third-quarter net profit of 259 million yuan, a year-on-year increase of 73.98% [6] - Jucheng Co., Ltd.: Third-quarter net profit of 115 million yuan, a year-on-year increase of 67.69% [6] - Longqi Technology: Third-quarter net profit of 152 million yuan, a year-on-year increase of 64.46% [6] - Zhaoyi Innovation: Third-quarter net profit of 508 million yuan, a year-on-year increase of 61.13% [6] - Sunshine Power: Third-quarter net profit of 4.147 billion yuan, a year-on-year increase of 57.04% [6] - Hudian Co., Ltd.: Third-quarter net profit of 1.035 billion yuan, a year-on-year increase of 46.25% [6] - South Grid Energy Storage: Third-quarter net profit of 601 million yuan, a year-on-year increase of 43.41% [6] - Jiangxi Copper: Third-quarter net profit of 1.849 billion yuan, a year-on-year increase of 35.20% [6] - Haowei Group: Third-quarter net profit of 1.182 billion yuan, a year-on-year increase of 17.26% [6]

Macro Dynamics - The 11th batch of national organized drug procurement has announced the selection results, including 55 types of drugs across various fields such as anti-infection, anti-allergy, anti-tumor, blood sugar reduction, blood pressure reduction, and blood lipid reduction. The procurement aims to stabilize clinical use, ensure quality, prevent internal competition, and avoid collusion in bidding. A total of 46,000 medical institutions participated, with 445 companies submitting bids, and 272 companies' products being shortlisted. Patients are expected to access these selected drugs by February 2026 [2] Financial Institutions - Bank of China reported a net profit of 177.66 billion yuan for the first three quarters of 2025, a year-on-year increase of 1.08%, with total operating income of 491.20 billion yuan, up 2.69% [6] - Huatai Securities announced a net profit of 1.88 billion yuan for the first three quarters of 2025, a year-on-year increase of 64.71%, with operating income of 44.23 billion yuan, up 67.32% [7] Market Data - On October 28, the A-share market saw all three major indices decline, with the ChiNext index dropping 0.15%. The total trading volume in the Shanghai and Shenzhen markets was 2.15 trillion yuan, a decrease of 192.3 billion yuan from the previous trading day [8][9] - The financing balance of the two markets increased by 24.57 billion yuan, with the Shanghai Stock Exchange reporting a balance of 1.25 trillion yuan and the Shenzhen Stock Exchange reporting 1.21 trillion yuan [10] Company Dynamics - *ST Zhengping announced a stock trading suspension for verification due to a cumulative increase of 152.42% in stock price from September 1 to October 28, indicating potential market overheating and irrational speculation. The company faces risks of delisting and ongoing financial losses [12] - Haowei Group reported a net profit of 3.21 billion yuan for the first three quarters of 2025, a year-on-year increase of 35.15%, driven by growth in the automotive intelligent driving sector [13] - Zhaoyi Innovation reported a net profit of 508 million yuan for the third quarter of 2025, a year-on-year increase of 61.13%, attributed to improvements in the DRAM industry supply chain [14] - China Film reported a third-quarter revenue of 1.21 billion yuan, a year-on-year increase of 35.61%, with a significant increase in net profit due to successful film releases [15] - Hongmeng Zhixing announced that the total delivery of the AITO M9 has surpassed 250,000 units [16] - Suli Co. reported a net profit of 59.42 million yuan for the third quarter of 2025, a year-on-year increase of 2750.24%, driven by growth in agricultural chemical sales [17]

Core Viewpoint - The company reported strong Q3 performance with revenue of 2.681 billion yuan, a year-on-year increase of 31.40%, and a net profit of 508 million yuan, up 61.13%, driven by improvements in the DRAM industry supply chain [1][2][3] Financial Performance - Q3 revenue reached 2.681 billion yuan, representing a 31.40% year-on-year growth; net profit was 508 million yuan, soaring 61.13% [2][3] - For the first three quarters, total revenue was 6.832 billion yuan, up 20.92%, and net profit was 1.083 billion yuan, increasing by 30.18% [2][3] - Q3 gross margin improved significantly, with a non-recurring net profit growth rate of 63.71% and a weighted average ROE of 6.30%, up 0.96 percentage points year-on-year [2][3] Business Drivers - The improvement in the DRAM industry supply chain has created a favorable "price and volume increase" situation, leading to higher shipment volumes and significant price increases [2][3] - The company is seeing growth in diverse product lines, including consumer, industrial, and automotive sectors, which are effectively collaborating with the main business [4][5] Profitability - The Q3 net profit of 508 million yuan grew at nearly double the rate of revenue growth, indicating high-quality earnings growth not reliant on non-recurring gains [3] - The proportion of operating costs to revenue decreased in Q3, with total operating costs for the first three quarters at 4.195 billion yuan, accounting for 61.4% of revenue, an improvement from 60.5% year-on-year [3] Investment and R&D - R&D expenses for the first three quarters were 860 million yuan, a slight increase of 1.7%, accounting for 12.6% of revenue, down from 15.0% year-on-year [7] - Long-term equity investments increased from 137 million yuan at the beginning of the year to 312 million yuan, a growth of 127%; other investments also saw increases [8]

Core Insights - The company reported a third-quarter revenue of 2.681 billion yuan, representing a year-on-year growth of 31.40% [1] - The net profit for the third quarter was 508 million yuan, showing a year-on-year increase of 61.13% [1] - For the first three quarters, the total revenue reached 6.832 billion yuan, with a year-on-year growth of 20.92% [1] - The net profit for the first three quarters was 1.083 billion yuan, reflecting a year-on-year increase of 30.18% [1]

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： 拟聘任的会计师事务所名称：毕马威华振会计师事务所（特殊普通合伙）（以 下简称毕马威华振） 原聘任的会计师事务所名称：中兴华会计师事务所（特殊普通合伙）（以下 简称中兴华） 证券代码：603986 证券简称：兆易创新 公告编号：2025-057 兆易创新科技集团股份有限公司 关于变更会计师事务所的公告 变更会计师事务所的简要原因及前任会计师的异议情况：基于兆易创新科技 集团股份有限公司（以下简称公司）业务发展情况及整体审计的需要，根据《国 有企业、上市公司选聘会计师事务所管理办法》《兆易创新会计师事务所选聘管理 制度》等相关规定，公司拟变更会计师事务所，聘任毕马威华振为公司2025年度 审计机构。公司已就本次变更会计师事务所事宜与中兴华进行了充分沟通，中兴 华已知悉本次变更事项并且无异议。 该事项尚需提交公司股东会审议批准。 公司于2025年10月28日召开第五届董事会第六次会议，审议通过了《关于变 更会计师事务所的议案》，公司拟聘任毕马威华振为公司2025年度审计 ...

5. 保险期限：12个月（2026年1月1日至2026年12月31日，后续每年可续保） 为提高决策效率，公司董事会拟提请股东会在上述权限内授权公司经营管理层 办理公司全体董事、高级管理人员责任险购买的相关事宜（包括但不限于确定其他 直接责任人员；确定保险公司；确定保险金额、保险费及其他保险条款；选择及聘 任保险经纪公司或其他中介机构；签署相关法律文件及处理与投保相关的其他事项 等），以及在今后董事、高级管理人员责任险保险合同期满时或之前办理与续保或者 重新投保等相关事宜，续保或者重新投保在上述保险方案范围内无需另行决策。 证券代码：603986 证券简称：兆易创新 公告编号：2025-058 兆易创新科技集团股份有限公司 关于购买董事及高级管理人员责任险的公告 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。 兆易创新科技集团股份有限公司（以下简称公司）于 2025 年 10 月 28 日召开第 五届董事会第六次会议，审议了《关于购买董事及高级管理人员责任险的议案》，为 保障公司和投资者的权益，进一步完善公司风险管理体系，同时促 ...

证券代码：603986 证券简称：兆易创新 公告编号：2025-059 该事项尚需提交公司股东会审议并经出席股东会的股东所持有效表决权股 份总数的三分之二以上（含）同意通过后方可生效。修订后的章程全文同日在上 海证券交易所网站（http://www.sse.com.cn）披露。 特此公告。 1 兆易创新科技集团股份有限公司董事会 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。 兆易创新科技集团股份有限公司（以下简称"公司"）于 2025 年 10 月 28 日召开第五届董事会第六次会议，审议通过了《关于变更公司注册资本暨修改< 公司章程>的议案》，现将相关事项公告如下： 2025 年 1 月 21 日、8 月 7 日，公司完成了 2020、2021 年股权激励计划中共 计 94,129 股限制性股票回购注销工作；2025 年 9 月 3 日、9 月 29 日，公司完成 2023 年股票期权激励计划第二个行权期、2020 年股票期权与限制性股票激励计 划第四个行权期的股份登记工作，共计新增股份 3,247,996 股。公司总股本 ...