Group 1 - The company, China Electric Motor (SH 603988), announced on October 31 that its sixth fifth board meeting was held on October 30, 2025, via written signature to discuss the proposal for changing the accounting firm [1] - For the year 2024, the company's revenue composition is 100.0% from machinery [1]

Core Viewpoint - China Electric Motor (603988.SH) reported a significant turnaround in its financial performance for the first three quarters of 2025, achieving a total operating revenue of 478 million yuan, marking an 11.36% year-on-year increase [1] Financial Performance - The company achieved a net profit attributable to shareholders of 39.22 million yuan, compared to a loss of 13.62 million yuan in the same period last year [1] - Basic earnings per share were reported at 0.17 yuan [1]

Core Viewpoint - China Electric Motor, established in 2003 and listed in 2014, is a significant player in the domestic large and medium-sized AC and DC motor sector, with advanced technology and strong market competitiveness [1] Group 1: Business Performance - In Q3 2025, China Electric Motor reported revenue of 478 million yuan, ranking 22nd out of 26 in the industry, with the industry leader, Wolong Electric Drive, generating 11.967 billion yuan [2] - The revenue composition includes AC motors at 163 million yuan (52.75%), wind motors at 64.3 million yuan (20.86%), DC motors at 41.16 million yuan (13.35%), and other products at 40.2 million yuan (13.04%) [2] - The net profit for the same period was 39.22 million yuan, ranking 20th in the industry, with the top two competitors, Ocean Electric and Wolong Electric Drive, earning 896 million yuan and 829 million yuan respectively [2] Group 2: Financial Ratios - As of Q3 2025, the asset-liability ratio for China Electric Motor was 39.34%, down from 40.80% year-on-year, which is higher than the industry average of 35.64% [3] - The gross profit margin for the same period was 25.86%, an increase from 25.05% year-on-year, exceeding the industry average of 21.03% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 39.57% to 19,400, with an average holding of 12,100 circulating A-shares, a decrease of 28.35% [5] - Notable changes in the top ten circulating shareholders include HSBC Jintrust Small Cap Stock becoming the fifth largest with 4.9115 million shares, an increase of 2.5637 million shares [5]

中电电机股份有限公司 第六届董事会第五次会议决议公告 证券代码：603988 证券简称：中电电机 公告编号：临 2025-039 二、董事会会议审议情况 1、审议并通过《关于 2025 年第三季度报告的议案》 表决结果：同意：9 票；反对：0 票；弃权：0 票。 本议案已经公司董事会审计委员会全体委员审议通过。 具体内容详见上海证券交易所网站（www.sse.com.cn）。 2、审议并通过《关于计提资产减值准备的议案》 表决结果：同意：9 票；反对：0 票；弃权：0 票。 本议案已经公司董事会审计委员会全体委员审议通过。 具体内容详见上海证券交易所网站（www.sse.com.cn）《中电电机关于计提 资产减值准备的公告》。 3、审议并通过《关于变更会计师事务所的议案》 表决结果：同意：9 票；反对：0 票；弃权：0 票。 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 中电电机股份有限公司（以下简称"公司"）第六届董事会第五次会议于 2025 年 10 月 30 日以书面传签的方式召开，本次会 ...

Financial Performance - The company's operating revenue for the third quarter was ¥170,147,534.55, a decrease of 3.77% compared to the same period last year[5] - The total profit for the quarter was ¥6,734,605.27, down 52.04% year-on-year[5] - The net profit attributable to shareholders was ¥4,244,275.94, reflecting a decline of 62.09% compared to the previous year[5] - The net profit after deducting non-recurring gains and losses was ¥3,909,698.39, a significant drop of 79.28% year-on-year[5] - The basic earnings per share for the quarter was ¥0.02, a decrease of 63.91% compared to the same period last year[6] - The company reported a significant increase in total profit for the year-to-date period, up 512.63% to ¥44,823,549.18[5] - Net profit for the first three quarters of 2025 was ¥39,215,428.75, a significant recovery from a net loss of ¥13,619,590.07 in the same period of 2024[24] - Earnings per share for the first three quarters of 2025 were ¥0.17, compared to a loss per share of ¥0.06 in 2024[24] Assets and Liabilities - The total assets at the end of the quarter were ¥1,106,523,156.46, a slight decrease of 0.86% from the end of the previous year[6] - The total assets as of September 30, 2025, amounted to approximately ¥1,106.52 million, a slight decrease from ¥1,116.07 million as of December 31, 2024, reflecting a decrease of about 0.5%[16] - Current assets totaled approximately ¥958.94 million, down from ¥962.02 million, indicating a decrease of about 0.3%[17] - The total liabilities decreased to ¥435,321,285.18 in 2025 from ¥474,676,992.75 in 2024, indicating a reduction of approximately 8.3%[19] Cash Flow - The net cash flow from operating activities was negative at -¥8,660,531.45, indicating a decline of 119.54% compared to the previous year[6] - Cash inflow from operating activities in the first three quarters of 2025 was ¥553,267,738.86, an increase from ¥513,318,365.56 in 2024[25] - The net cash flow from operating activities was -$8.66 million, a decrease from $44.31 million in the previous period[26] - Total cash outflow from operating activities amounted to $561.93 million, compared to $469.01 million previously[26] - The ending balance of cash and cash equivalents was $67.03 million, compared to $90.20 million at the end of the previous period[26] Business Strategy and Development - The company has expanded its business scope to include upstream resource industries, focusing on non-ferrous and precious metal investment, exploration, mining, and processing[14] - The company aims to become a diversified entity with dual main businesses in electric motor operations and upstream resources, enhancing profitability and sustainable operations[14] - The company is focusing on expanding its market presence and enhancing product development strategies to drive future growth[22] Shareholder Information - The top ten shareholders hold a combined 78.75% of the company's shares, with Beijing Gaodi Resource Development Co., Ltd. holding the largest share at 30%[12] - The company completed a board and supervisory board election on February 13, 2025, with a smooth transition of executive management[14] Financial Management - The financial expenses showed a decrease, with a net financial income of -¥1,306,394.31 in 2025 compared to -¥423,224.41 in 2024, indicating improved cost management[22] - Unallocated profits increased to ¥178,915,990.77 in 2025, up from ¥149,108,562.02 in 2024, marking a growth of 19.9%[19] Future Plans - The company plans to implement new accounting standards starting in 2025[27]

证券代码：603988 证券简称：中电电机 公告编号：临 2025-040 中电电机股份有限公司 | 科目 | 计提金额（元） | | --- | --- | | 信用减值损失 | -11,946,263.18 | | 其中：应收票据坏账损失 | 325,161.76 | | 应收账款坏账损失 | -12,269,013.14 | | 其他应收款坏账损失 | -2,411.80 | | 资产减值损失 | -10,411,591.48 | | 其中：存货跌价损失及合同履约成本减值损失 | -2,192,171.38 | | 合同资产坏账损失 | -8,219,420.10 | | 合计 | -22,357,854.66 | 说明：表中损失以"-"号填列。 二、本次计提资产减值准备对公司的影响 本次计提资产减值准备，将减少公司2025年前三季度合并报表利润总额 22,357,854.66元（合并利润总额未计算所得税影响）。 三、董事会审计委员会意见 关于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个别及连带责任。 ...

证券代码：603988 证券简称：中电电机 公告编号：临 2025-041 中电电机股份有限公司 变更会计师事务所的公告 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个别及连带责任。 重要内容提示： 拟聘任的会计师事务所名称：容诚会计师事务所（特殊普通合伙）（以下 简称"容诚会计师事务所"） 原聘任的会计师事务所名称：天健会计师事务所（特殊普通合伙）（以下 简称"天健会计师事务所"） | 计）业务收入 | | 审计业务收入 | 23.49 亿元 | | --- | --- | --- | --- | | | | 证券业务收入 | 亿元 12.38 家 | | 2024 | | 客户家数 | 518 | | | | 审计收费总额 | 6.20 亿元 | | 年上市公 | | | 制造业、信息传输、软件和信息技术服务 | | 司（含 A、B | 股） | 涉及主要行业 | 业、批发和零售业、科学研究和技术服务 | | 审计情况 | | | 业、建筑业、水利、环境和公共设施管理 | | | | | 业等多个行业 | | | | 本公司同行业 ...

Core Insights - The company reported a revenue of 170 million yuan for the third quarter, representing a year-on-year decline of 3.77% [1] - The net profit for the third quarter was 4.2443 million yuan, showing a significant year-on-year decrease of 62.09% [1] - For the first three quarters, the company achieved a revenue of 478 million yuan, which is a year-on-year increase of 11.36% [1] - The net profit for the first three quarters reached 39.2154 million yuan, marking a substantial year-on-year growth of 387.93% [1]

为进一步加强与投资者的互动交流，中电电机股份有限公司（以下简称"公 司"）将参加"2025 无锡上市公司投资者集体接待日"活动，现将相关事项公 告如下： 出席本次年度网上集体接待日的人员有：公司总经理兼董事会秘书刘黎明先 生、财务总监王萱女士、副总经理刘锴先生。 证券代码：603988 证券简称：中电电机 公告编号：临 2025-038 中电电机股份有限公司 关于参加 2025 无锡上市公司投资者集体接待日活动的公告 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个别及连带责任。 届时公司高管将在线就投资者关心的问题，与投资者进行沟通与交流，欢迎 广大投资者踊跃参与！ 特此公告。 中电电机股份有限公司董事会 2025 年 10 月 30 日 本次活动将采用网络远程的方式举行，投资者可登录"全景路演" （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP，参 与本次互动交流，活动时间为 2025 年 11 月 4 日（星期二，15:30-17:00）。 ...

Core Viewpoint - The stock market has seen significant activity with several stocks hitting the daily limit up, particularly in the semiconductor and storage chip sectors, indicating strong investor interest and potential growth opportunities in these areas [1][2]. Group 1: Stock Performance - The stock with the highest limit up order volume is Yingxin Development, reaching 1.87 million hands, followed by Pingtan Development with 555,900 hands [1]. - In terms of consecutive limit up days, ST Zhongdi achieved 7 consecutive days, while Yingxin Development and Shilong Industrial achieved 6 and 5 consecutive days, respectively [2]. - A total of 23 stocks had limit up order amounts exceeding 100 million yuan, with 7 stocks, including Yingxin Development and Zhaoyi Innovation, exceeding 200 million yuan [2]. Group 2: Company Developments - Yingxin Development is involved in multiple sectors, including cultural tourism and real estate, and has announced plans to acquire an 81.81% stake in Changxing Semiconductor, aiming to enter the storage chip market [2][4]. - Dawa Technology reported a 28.68% year-on-year revenue increase in its storage and smart terminal segment, with significant growth in product shipments [5]. - Time Space Technology plans to acquire 100% of Shenzhen Jiahe Jinyi Electronics, entering the semiconductor storage market [5]. Group 3: Industry Trends - The storage chip sector is highlighted by several stocks, including Dawa Technology, Zhongdian Port, and Time Space Technology, which are experiencing growth due to increased demand and strategic acquisitions [5]. - The optical packaging sector is also gaining traction, with companies like Jingwang Electronics and Shengyi Technology making advancements in high-speed PCB products for data centers and AI servers [6][7]. - The rare earth permanent magnet sector is represented by companies like Antai Technology and Xiamen Tungsten, which are expanding their production capacities to meet the demands of emerging industries such as electric vehicles and AI [8][9]. Group 4: Market Activity - Eight stocks on the龙虎榜 (Dragon Tiger List) recorded net purchases exceeding 100 million yuan, indicating strong institutional interest [10]. - Among these, Hengbao Co., Jingzhida, and Antai Technology had the highest net purchases, reflecting their attractiveness to investors [10].