Financial Performance - The company's total revenue for the first half of 2025 was 308 million yuan, an increase of 55.4652 million yuan compared to the same period last year, representing a year-on-year growth of 21.94% [1] - The net profit attributable to shareholders was 34.9712 million yuan, an increase of 59.7867 million yuan compared to the same period last year [1] - The company reported a negative net cash flow from operating activities of 19.2401 million yuan [1] Profitability Metrics - The latest gross profit margin was 27.52%, ranking 5th among disclosed peers, with an increase of 4.38 percentage points from the previous quarter and 5.86 percentage points from the same period last year [3] - The return on equity (ROE) was 5.24%, ranking 7th among disclosed peers, with a year-on-year increase of 9.10 percentage points [3] Efficiency Ratios - The diluted earnings per share were 0.15 yuan, an increase of 0.26 yuan compared to the same period last year [4] - The total asset turnover ratio was 0.27 times, an increase of 0.04 times year-on-year, representing a growth of 19.12% [4] - The inventory turnover ratio was 0.77 times, an increase of 0.10 times year-on-year, reflecting a growth of 14.37% [4] Shareholder Structure - The number of shareholders was 13,900, with the top ten shareholders holding 162 million shares, accounting for 69.00% of the total share capital [4] - The largest shareholder, Beijing Gaodi Resource Development Co., Ltd., holds 30.00% of the shares [4]

Financial Performance - The company reported a total revenue of 308 million yuan for the first half of 2025, representing a year-on-year increase of 21.94% [1] - The net profit attributable to shareholders reached 34.97 million yuan, a significant increase of 240.92% compared to the previous year [1] - In Q2 2025, total revenue was 190 million yuan, up 33.48% year-on-year, while net profit for the quarter was 30.77 million yuan, reflecting a remarkable increase of 581.47% [1] - The gross margin improved to 27.52%, with a year-on-year increase of 35.48%, and the net margin was 11.34%, up 215.57% [1] Cost and Expenses - Total selling, administrative, and financial expenses amounted to 37.33 million yuan, accounting for 12.11% of revenue, down 19.38% year-on-year [1] - The company reported a significant decrease in accounts receivable by 22.62%, totaling 222 million yuan [1] Cash Flow and Assets - The company’s cash flow from operating activities showed a negative value of -0.08 yuan per share, a drastic decrease of 1784.48% year-on-year [1] - Cash and cash equivalents increased by 31.23% to 106 million yuan [3] Investment and Returns - The company experienced a 151.73% increase in trading financial assets due to new investment in financial products [3] - Investment income increased due to higher gains from the sale of equity investments [5] Fund Holdings - The largest fund holding in the company is the GF Strategy Preferred Mixed Fund, with a scale of 2.555 billion yuan and a recent net value increase of 0.98% [9]

Summary of Key Points Core Viewpoint - 中电电机's shareholder count decreased significantly while the average shareholding value increased, indicating a potential shift in investor sentiment despite a notable stock price increase during the same period [1][2]. Group 1: Shareholder Statistics - As of June 30, 2025, 中电电机 had 13,877 shareholders, a decrease of 3,202 shareholders or 18.75% from March 31, 2025 [1][2]. - The average number of shares held per shareholder increased from 13,800 shares to 16,900 shares, with an average shareholding value of 455,400 yuan [1][2]. - The average shareholder count in the electric motor industry is 48,700, indicating 中电电机's shareholder count is below the industry average [1]. Group 2: Stock Performance - From March 31, 2025, to June 30, 2025, 中电电机's stock price increased by 37.91%, despite the reduction in shareholder count [1][2]. - During this period, the net outflow of main funds was 64.4 million yuan, while retail investors saw a net inflow of 114 million yuan [2]. - The stock was listed on the龙虎榜 once during this period, with one institutional special seat appearing [2].

Group 1 - The core viewpoint of the article highlights that China Electric Motor (SH 603988) held its sixth fourth board meeting on August 28, 2025, to review the semi-annual report and related documents [1] - For the year 2024, the company's revenue composition is entirely from machinery, with a 100.0% share [1] - As of the report, China Electric Motor has a market capitalization of 5.5 billion yuan [1] Group 2 - The article mentions that nearly 120 brands and 1,600 vehicles are competing in the southwestern market, indicating a significant expansion in the automotive sector [1] - The first A-class car exhibition in the second half of the year is expected to reshape the market dynamics for new energy vehicles [1]

证券代码：603988 证券简称：中电电机 公告编号：临 2025-034 中电电机股份有限公司 第六届董事会第四次会议决议公告 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。 2025 年 8 月 30 日 1 中电电机股份有限公司（以下简称"公司"）第六届董事会第四次会议于 2025 年 8 月 28 日上午 10:00 在北京市朝阳区华贸写字楼 2 座 13 层公司会议室以 现场结合通讯方式召开，本次会议通知于 2025 年 8 月 18 日以电子通讯方式通知 全体董事和监事。会议由董事长轩秀丽女士召集并主持，会议应出席董事 9 人， 实际出席董事 9 人。公司全体监事和高级管理人员列席会议。本次会议的召集和 召开程序符合《中华人民共和国公司法》和《中电电机股份有限公司章程》的规 定，会议合法有效。 二、董事会会议审议情况 1、审议并通过《关于 2025 年半年度报告及摘要的议案》 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 ...

Group 1 - The sixth meeting of the board of directors of China Electric Motor Co., Ltd. was held, with all nine directors present, confirming the legality and validity of the meeting [1][2] - The board unanimously approved the proposal regarding the provision for asset impairment for the first half of 2025, with a voting result of 9 in favor, 0 against, and 0 abstentions [1][2] - The details of the asset impairment provision can be found on the Shanghai Stock Exchange website [2]

Core Viewpoint - The report highlights significant growth in revenue and net profit for SEC Electric Machinery Co., Ltd. in the first half of 2025, driven by increased market expansion and improved operational efficiency [2][4][13]. Financial Performance - The company achieved operating revenue of CNY 308.27 million, a year-on-year increase of 21.94% compared to CNY 252.81 million in the same period last year [2][4]. - The total profit reached CNY 38.09 million, a substantial increase of 252.94% from a loss of CNY 24.91 million in the previous year [2][13]. - Net profit attributable to shareholders was CNY 34.97 million, up 240.92% from a loss of CNY 24.82 million [2][4][13]. - The net cash flow from operating activities was negative at CNY -19.24 million, a significant decrease from CNY 1.14 million in the previous year [2][13]. Business Overview - The main business focus is on the manufacturing of large and medium-sized electric motors, generators, and related power systems, with a strong emphasis on R&D and innovation [3][4][6]. - The company operates under an order-based production model, tailoring products to customer specifications and providing comprehensive after-sales services [3][4]. Market and Industry Context - The electric machinery and equipment manufacturing industry saw a 6.4% increase in industrial value added, with the electrical machinery sector growing by 7.0% in the first half of 2025 [3][4]. - The small and medium-sized motor industry experienced stable production and sales growth, with an increase in total industry profits and improved cost-profit ratios [3][4]. Competitive Advantages - The company holds 47 valid patents, including 21 invention patents, and has been recognized as a high-tech enterprise in Jiangsu Province [6][8]. - The company emphasizes quality management and has established a comprehensive quality assurance system, achieving various international certifications [9][10]. Strategic Developments - The company plans to diversify into upstream resource industries, including non-ferrous and precious metal investment and processing, to enhance its long-term profitability and sustainability [7][17]. - The management is focused on optimizing production processes and enhancing product quality through technological innovation and automation upgrades [6][11].

Core Viewpoint - The report highlights significant financial improvements for China Electric Motor Co., Ltd. in the first half of 2025, with notable increases in revenue and net profit compared to the previous year, alongside strategic shifts towards upstream resource industries [1][3]. Financial Performance - Total assets increased from 1,116,071,435.28 yuan to 1,138,119,170.17 yuan, reflecting a growth of 1.98% [1]. - Net assets attributable to shareholders rose from 641,394,442.53 yuan to 666,957,595.34 yuan, marking a 3.99% increase [1]. - Operating revenue grew by 21.94%, from 252,809,285.77 yuan to 308,274,528.64 yuan [1]. - Total profit surged by 252.94%, from -24,905,051.07 yuan to 38,088,943.91 yuan [1]. - Net profit attributable to shareholders improved by 240.92%, from -24,815,569.18 yuan to 34,971,152.81 yuan [1]. - The net profit after deducting non-recurring gains and losses increased by 338.45%, from -7,449,181.56 yuan to 17,762,753.31 yuan [1]. - The net cash flow from operating activities shifted from -19,240,133.16 yuan to 1,142,197.82 yuan, indicating a significant turnaround [1]. - The weighted average return on net assets increased by 9.14 percentage points, from -3.82% to 5.32% [1]. Shareholder Information - The total number of shareholders as of the report date is 13,877 [1]. - The new controlling shareholder is Beijing Gaodi Resource Development Co., Ltd., with the actual controller being Guo Wenjun, effective from December 27, 2024 [2]. Strategic Developments - The company has expanded its business scope to include upstream resource industries, specifically in non-ferrous and precious metal investment, exploration, mining, and processing [3]. - The management transition has been completed smoothly, aligning with the new strategic direction towards diversification in electric motor and upstream resource businesses [3]. - The company aims to enhance profitability and sustainable operations while exploring opportunities in upstream resource sectors such as mining and refining [3].

重要提示 中电电机股份有限公司2025 年半年度报告 中电电机股份有限公司2025 年半年度报告 1 / 128 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 公司代码：603988 公司简称：中电电机 中电电机股份有限公司 2025 年半年度报告 三、 本半年度报告未经审计。 四、 公司负责人轩秀丽、主管会计工作负责人王萱及会计机构负责人（会计主管人员）蔡涓声 明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告所涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质性承诺，请 投资者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 2 / 128 | 第一节 | 释义 | 4 | | --- | --- | --- | | 第二节 | 公司简介和主 ...

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。 为真实、准确地反映公司资产状况和经营成果，根据《企业会计准则》和公 司会计政策的相关规定，基于谨慎性原则，公司对合并报表范围内的相关资产进 行了减值测试并计提了相应的资产减值准备，具体情况如下： 证券代码：603988 证券简称：中电电机 公告编号：临 2025-035 中电电机股份有限公司 关于 2025 年半年度计提资产减值准备的公告 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 五、风险提示 一、本次计提资产减值准备情况概述 根据《企业会计准则》以及公司会计政策、会计估计的相关规定，为了真实、 准确地反映公司截至2025年6月30日的财务状况，本着谨慎性原则，公司对截至 2025年6月30日公司及下属子公司的资产进行了减值测试，对可能发生信用及资 产减值损失的相关资产计提减值准备。2025年半年度计提的信用减值损失和资产 减值损失合计为18,091,990.53元，具体如下表： | 科目 | 计提金额（元） | | --- | --- | | ...