Core Viewpoint - China Electric Motor experienced a decline in stock price by 2.03% on November 17, with a trading volume of 132 million yuan and a total market capitalization of 6.014 billion yuan [1] Financial Performance - For the period from January to September 2025, China Electric Motor achieved a revenue of 478 million yuan, representing a year-on-year growth of 11.36% [2] - The net profit attributable to shareholders for the same period was 39.215 million yuan, showing a significant year-on-year increase of 387.93% [2] Shareholder Information - As of September 30, 2025, the number of shareholders for China Electric Motor increased to 19,400, up by 39.57% from the previous period [2] - The average number of circulating shares per shareholder decreased by 28.35% to 12,143 shares [2] Dividend Distribution - Since its A-share listing, China Electric Motor has distributed a total of 544 million yuan in dividends, with 38.996 million yuan distributed over the past three years [3] Institutional Holdings - As of September 30, 2025, HSBC Jintrust Small Cap Stock Fund became the fifth largest circulating shareholder, increasing its holdings by 2.5637 million shares to 4.9115 million shares [3] - Hong Kong Central Clearing Limited entered as the seventh largest circulating shareholder with 2.6831 million shares [3] - New entrants among the top ten circulating shareholders include Da Cheng New Industry Mixed A and Da Cheng Industry Trend Mixed A [3]

Core Points - The electric motor sector experienced a decline of 2.03% on the trading day, with Fangzheng Electric leading the drop [1] - The Shanghai Composite Index closed at 3990.49, down 0.97%, while the Shenzhen Component Index closed at 13216.03, down 1.93% [1] Stock Performance - Bafang Co., Ltd. (603489) closed at 31.24, up 3.65% with a trading volume of 65,100 shares and a transaction value of 201 million yuan [1] - Kangping Technology (300907) closed at 32.66, up 1.90% with a trading volume of 26,000 shares and a transaction value of 84.69 million yuan [1] - Huarui Co., Ltd. (300626) closed at 13.15, up 1.47% with a trading volume of 176,600 shares [1] - Tongda Power (002576) closed at 17.93, up 0.50% with a trading volume of 33,200 shares and a transaction value of 59.67 million yuan [1] - Mingzhi Electric (603728) closed at 66.32, up 0.48% with a trading volume of 61,700 shares [1] - Jiangnan Yifan (301023) closed at 40.05, up 0.38% with a trading volume of 12,000 shares and a transaction value of 48.08 million yuan [1] - Huayang Intelligent (301502) closed at 47.90, up 0.23% with a trading volume of 4,544 shares and a transaction value of 21.83 million yuan [1] - Shenli Co., Ltd. (603819) closed at 12.21, up 0.08% with a trading volume of 40,700 shares and a transaction value of 49.83 million yuan [1] - Dibei Electric (603320) closed at 19.40, down 0.05% with a trading volume of 15,500 shares and a transaction value of 30.12 million yuan [1] - China Electric Motor (603988) closed at 26.10, down 0.15% with a trading volume of 46,300 shares and a transaction value of 121 million yuan [1] Capital Flow - The electric motor sector saw a net outflow of 1.037 billion yuan from main funds, while retail investors contributed a net inflow of 966 million yuan [3] - Speculative funds recorded a net inflow of 70.95 million yuan [3]

Market Performance - The electric motor sector increased by 0.71% compared to the previous trading day, with Ananda leading the gains [1] - The Shanghai Composite Index closed at 4029.5, up 0.73%, while the Shenzhen Component Index closed at 13476.52, up 1.78% [1] Stock Performance - Ananda (603350) closed at 40.84, with a rise of 6.44% and a trading volume of 49,400 shares, totaling a transaction value of 26.66 million yuan [1] - Jiangte Electric (002176) closed at 12.18, up 5.73%, with a trading volume of 2.0381 million shares, amounting to 2.463 billion yuan [1] - Zhongdian Electric (603988) closed at 26.14, increasing by 2.63%, with a trading volume of 78,500 shares and a transaction value of 205 million yuan [1] - Other notable stocks include Jiadian Co. (000922) with a 1.39% increase, Bafang Co. (603489) up 1.17%, and Wolong Electric (600580) rising by 0.95% [1] Fund Flow - The electric motor sector experienced a net outflow of 15.1534 million yuan from institutional funds and a net outflow of 60.5682 million yuan from speculative funds, while retail investors saw a net inflow of 75.7217 million yuan [3]

Market Overview - The electric motor sector experienced a decline of 1.04% on the trading day, with Bafang Electric leading the drop [1] - The Shanghai Composite Index closed at 4002.76, down 0.39%, while the Shenzhen Component Index closed at 13289.0, down 1.03% [1] Stock Performance - Notable gainers in the electric motor sector included: - Fangzheng Electric, closing at 15.98 with a rise of 9.98% and a trading volume of 1.75 million shares, totaling 2.71 billion yuan [1] - Jiadian Co., closing at 15.33 with a rise of 5.14% and a trading volume of 594,300 shares, totaling 890 million yuan [1] - Conversely, Bafang Electric saw a significant decline, closing at 30.27 with a drop of 4.96% and a trading volume of 76,400 shares, totaling 234 million yuan [2] Capital Flow - The electric motor sector experienced a net outflow of 565 million yuan from institutional investors and 181 million yuan from speculative funds, while retail investors saw a net inflow of 746 million yuan [2] - Specific stock capital flows indicated: - Fangzheng Electric had a net inflow of 198 million yuan from institutional investors, while speculative funds saw a net outflow of 157 million yuan [3] - Jiadian Co. had a net inflow of 12.83 million yuan from institutional investors, with speculative funds contributing a net inflow of 33.68 million yuan [3]

Market Overview - The electric motor sector increased by 2.86% compared to the previous trading day, with Fangzheng Electric leading the gains [1] - The Shanghai Composite Index closed at 4007.76, up 0.97%, while the Shenzhen Component Index closed at 13452.42, up 1.73% [1] Stock Performance - Fangzheng Electric (002196) closed at 12.83, rising by 10.03% with a trading volume of 1.177 million shares and a transaction value of 142.3 million yuan [1] - Other notable performers include: - Jiadian Co. (000922) at 14.72, up 10.01% [1] - Zhaowei Electromechanical (003021) at 117.48, up 5.17% [1] - Kaizhong Precision (002823) at 18.38, up 4.97% [1] - Mingzhi Electric (603728) at 71.52, up 4.93% [1] Capital Flow - The electric motor sector saw a net inflow of 632 million yuan from institutional investors, while retail investors experienced a net outflow of 453 million yuan [2] - The main capital flow for key stocks includes: - Fangzheng Electric with a net inflow of 1.95 billion yuan [3] - Wolong Electric Drive (600580) with a net inflow of 167 million yuan [3] - Ocean Electric (002249) with a net inflow of 1.16 billion yuan [3]

证券代码：603988 证券简称：中电电机 公告编号：临 2025-042 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情况的公告 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。 中电电机股份有限公司（以下简称"公司"）于 2025 年 11 月 4 日（星期二， 15:30-17:00）参加了"2025 无锡上市公司投资者集体接待日"活动，现将本次 活动情况公告如下： 3、公司连续在财报中说明上游资源品规划，又明确说明尚未开展，预期何 时开展？ 一、本次活动召开情况 公司于 2025 年 10 月 30 日在上海证券交易所网站(www.sse.com.cn)披露了 《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》（公告编号：临 2025-038）。 本次投资者集体接待日活动采用网络远程的方式举行，公司总经理兼董事会 秘书刘黎明先生、财务总监王萱女士、副总经理刘锴先生共同出席本次活动，与 投资者进行互动交流和沟通，并就投资者普遍关注的问题进行了回答。 二 ...

Core Viewpoint - The company, China Electric Motor (603988.SH), reported significant growth in revenue and net profit for the first three quarters of 2025, indicating a strong operational performance and commitment to optimizing its product and market structure [1] Financial Performance - The company achieved operating revenue of 478.42 million yuan, representing an increase of 11.36% compared to the same period last year [1] - The net profit attributable to shareholders of the listed company reached 39.22 million yuan, showing a substantial growth of 387.93% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 21.67 million yuan, reflecting an increase of 89.80% compared to the previous year [1] Strategic Focus - The company plans to continue focusing on its core business while optimizing its product and market structure to enhance operational quality and efficiency [1]

Core Viewpoint - The passive component market is experiencing significant price increases, particularly in tantalum capacitors, driven by rising demand from AI applications, with price hikes reported between 20% and 30% [1] Group 1: Price Increases and Market Impact - Kemet, a subsidiary of Yageo Group, has issued a price increase notice for tantalum capacitors, marking the second price hike this year, expanding the customer base from agents to direct sales [1] - The domestic passive component index saw an increase of nearly 5% over the first three trading days of the week from October 27 to 29 [1] Group 2: Financial Performance of Related Stocks - In 2024, over 20 stocks in the passive component industry are projected to achieve a combined net profit of nearly 6.6 billion, reflecting a year-on-year growth of 17.8%, reversing the decline seen in 2022 and 2023 [1] - For the first three quarters of this year, these stocks reported a net profit of nearly 5.8 billion, representing a year-on-year increase of nearly 12% [1] Group 3: Individual Stock Performance - Notable individual stocks with net profit growth exceeding 20% in the first three quarters include Shunluo Electronics, Dali Kipu, Tongfeng Electronics, Junwei Electronics, and Shunluo Electronics [1] - Among the over 20 stocks, only five have outperformed the passive component index's growth of 20.98% while also achieving a net profit growth of over 10% in the first three quarters: Tongfeng Electronics, Aihua Group, Dali Kipu, Fala Electronics, and Junwei Electronics, with the latter two having year-to-date growth below 5% [1]

Group 1 - The core viewpoint of the articles highlights the changes in institutional and public fund holdings in China Electric Motor (603988.SH) as of the third quarter of 2025, indicating a notable decrease in the proportion of shares held by the top ten institutional investors [1][2] Group 2 - As of October 30, 2025, a total of 12 institutional investors disclosed holdings in China Electric Motor A-shares, with a combined holding of 87.9843 million shares, accounting for 37.41% of the total share capital [1] - The top ten institutional investors collectively held 37.41% of the shares, which represents a decrease of 6.51 percentage points compared to the previous quarter [1] Group 3 - In the public fund sector, two funds increased their holdings, namely HSBC Jintrust Small Cap Equity and Huazhang Modern Life Mixed, with an increase ratio of 1.12% [2] - Two public funds reduced their holdings, specifically Everbright Prudent Selection Mixed A and Everbright Ruihe Mixed A, showing a slight decline [2] - Four new public funds disclosed their holdings this period, including Dachen New Industry Mixed A and Dachen Industry Trend Mixed A [2] - Fifty public funds were not disclosed this period, including Guangfa Strategy Preferred Mixed and Zhonggeng Value Leading Mixed [2] Group 4 - In the social security fund sector, one fund increased its holdings, namely the National Social Security Fund 503 Portfolio, with an increase ratio of 0.64% [2] - One social security fund was not disclosed this period, specifically Guangfa Fund Management Co., Ltd. - Social Security Fund 420 Portfolio [2]

Core Insights - The company reported a total revenue of 478 million yuan for Q3 2025, ranking 22nd among disclosed peers [1] - The net profit attributable to shareholders was 39.22 million yuan, ranking 20th among disclosed peers [1] - The net cash flow from operating activities was -8.66 million yuan, a decrease of 52.97 million yuan compared to the same period last year, representing a year-on-year decline of 119.54% [1] Financial Metrics - The latest debt-to-asset ratio is 39.34% [3] - The latest gross profit margin is 25.86%, down by 1.65 percentage points from the previous quarter [3] - The latest return on equity (ROE) is 5.84% [3] - The diluted earnings per share (EPS) is 0.17 yuan, ranking 19th among disclosed peers [3] - The total asset turnover ratio is 0.43 times, ranking 18th among disclosed peers [3] - The inventory turnover ratio is 1.22 times, ranking 25th among disclosed peers [3] Shareholder Structure - The number of shareholders is 19,400, with the top ten shareholders holding 154 million shares, accounting for 65.67% of the total share capital [3] - The largest shareholder is Beijing Gaodi Resource Development Co., Ltd., holding 30.01% [3] - Other significant shareholders include Wang Jianyu (16.1%), Wang Jiankai (9.65%), and Liu Xin (2.67%) [3]