Group 1 - The core point of the article is the establishment of a new company, Xuqing Lingdong (Shanghai) Embodied Intelligent Technology Co., Ltd., which focuses on various aspects of intelligent robotics and software development [1] - The company has a registered capital of 12 million yuan, indicating a significant investment in the technology sector [1] - The business scope includes research and development of intelligent robots, network and information security software development, artificial intelligence application software development, computer system services, software outsourcing services, and sales of intelligent and industrial robots [1] Group 2 - The company is co-owned by Mingxin Xuteng and Shanghai Qingbao Engine Robot Co., Ltd., suggesting a collaboration between established entities in the robotics field [1] - The legal representative of the company is Luo Zheng, which may indicate a leadership role in guiding the company's strategic direction [1]

会议召开方式：上证路演中心视频直播和网络互动 证券代码：605068 证券简称：明新旭腾 公告编号：2025-103 转债代码：111004 转债简称：明新转债 明新旭腾新材料股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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。 重要内容提示： 会议召开时间：2025 年 11 月 10 日 （星期一） 10:00-11:00 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 投资者可于 2025 年 11 月 03 日 （星期一） 至 11 月 07 日 （星期五）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 ir@mingxinleather.com 进行提问。公司将在说明会上对投资者普遍关注的问题 进行回答。 明新旭腾新材料股份有限公司（以下简称"公司"）于 2025 年 10 月 30 日 发布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥441,162,205.67, an increase of 41.63% compared to the same period last year[4] - The total profit for the quarter was a loss of ¥10,028,243.33, representing a significant decline of 2,537.70% year-on-year[4] - The net profit attributable to shareholders was a loss of ¥10,114,208.85, with a decrease of 587.65% compared to the previous year[4] - The basic earnings per share for the quarter was -¥0.06, reflecting a decrease of 700.00% year-on-year[5] - The net profit for the first three quarters of 2025 was a loss of ¥39,505,358.71, compared to a profit of ¥12,088,435.82 in the same period of 2024[20] - Operating profit for the first three quarters of 2025 was ¥995,920.11, a significant recovery from a loss of ¥5,265,370.96 in the first three quarters of 2024[29] - Net profit for the first three quarters of 2025 was ¥5,273,989.60, compared to a net loss of ¥1,020,764.12 in the same period of 2024[29] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥3,786,500,910.34, an increase of 7.13% from the end of the previous year[5] - The company's total assets increased to ¥3,786,500,910.34 in 2025 from ¥3,534,586,248.35 in 2024, marking a growth of 7.1%[17] - Total liabilities rose to ¥2,138,896,178.63 in 2025, compared to ¥1,865,451,521.51 in 2024, indicating an increase of 14.6%[16] - The total liabilities rose to ¥1,497,059,575.04 in 2025, up from ¥1,324,527,500.71 in 2024, indicating an increase of 13.0%[27] - The total equity attributable to shareholders decreased to ¥1,647,004,993.87 in 2025 from ¥1,669,134,726.84 in 2024, a decline of 1.3%[16] - The total equity increased to ¥1,674,271,046.79 in 2025 from ¥1,654,855,045.58 in 2024, showing a growth of 1.2%[27] Cash Flow - The cash flow from operating activities for the year-to-date was ¥93,605,569.97, with no applicable data for the current quarter[5] - Operating cash inflow for the first three quarters of 2025 is 1,024,984,450.82 CNY, up from 739,446,159.20 CNY in the same period of 2024, representing an increase of approximately 38.7%[23] - Net cash flow from operating activities is 93,605,569.97 CNY, a significant improvement from -59,804,793.68 CNY in the previous year[23] - Cash flow from investing activities shows a net outflow of -132,694,096.63 CNY, compared to -301,303,218.52 CNY in the same period last year, indicating a reduced cash burn[24] - The company has reported a total cash outflow from financing activities of -42,842,597.84 CNY, contrasting with a net inflow of 42,315,850.75 CNY in the previous year[24] Shareholder Information - Total number of common shareholders at the end of the reporting period is 8,673[12] - The largest shareholder, Zhuang Junxin, holds 43,304,000 shares, representing 26.70% of total shares[12] Inventory and Receivables - Accounts receivable stands at ¥543,639,078.38, slightly down from ¥552,642,319.13 in the previous year[14] - Inventory has increased significantly to ¥999,759,536.54 from ¥743,064,978.11[14] - Inventory has increased to 678,389,316.45 CNY from 504,260,403.81 CNY, reflecting a growth of approximately 34.5%[25] Research and Development - Research and development expenses for the first three quarters of 2025 were ¥67,396,155.63, down from ¥78,229,442.54 in 2024, a decrease of 13.5%[19] - Research and development expenses increased to ¥37,675,627.74 in 2025 from ¥29,412,247.69 in 2024, marking a rise of 28.2%[29] Operational Changes - The company reported a decrease in gross profit margin due to rising fixed asset depreciation and increased material procurement costs[10] - There are no new strategies or significant operational changes reported for the current period[14] - The company has not disclosed any new product developments or technological advancements in this reporting period[14] - No mergers or acquisitions have been mentioned in the latest financial report[14] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[32]

Core Insights - A new company, Xuqing Lingdong (Shanghai) Embodied Intelligent Technology Co., Ltd., has been established with a registered capital of 12 million RMB [1] - The company focuses on the development of intelligent robots, network and information security software, artificial intelligence application software, computer system services, software outsourcing services, and sales of both intelligent and industrial robots [1] - The shareholders of the company include Mingxin Xuteng (605068) and Shanghai Qingbao Engine Robot Co., Ltd. [1]

Group 1 - Mingxin Xuteng's stock price increased by 5.15%, reaching 27.35 CNY per share, with a trading volume of 53.73 million CNY and a turnover rate of 1.24%, resulting in a total market capitalization of 4.436 billion CNY [1] - Mingxin Xuteng New Materials Co., Ltd. is located in Jiaxing City, Zhejiang Province, and was established on December 7, 2005. The company was listed on November 23, 2020, and its main business involves the research, development, and sales of new materials for automotive interiors [1] Group 2 - According to data, one fund under Huatai PineBridge has a significant holding in Mingxin Xuteng. The Huatai Minying New Power Stock Fund (001541) reduced its holdings by 236,800 shares in the second quarter, retaining 498,200 shares, which accounts for 2.39% of the fund's net value, ranking as the eighth largest holding [2] - The Huatai Minying New Power Stock Fund (001541) was established on August 7, 2015, with a latest scale of 374 million CNY. Year-to-date returns are 40.56%, ranking 1160 out of 4218 in its category; the one-year return is 40.46%, ranking 1068 out of 3878; and since inception, the return is 102.4% [2] - The fund manager of Huatai Minying New Power Stock Fund is Bian Zheng, who has been in the position for 3 years and 251 days, with the total asset scale of 741 million CNY. The best fund return during his tenure is 48.65%, while the worst is 3.35% [2]

企查查APP显示，近日，旭清灵动（上海）具身智能科技有限公司成立，注册资本1200万元，经营范围 包含：智能机器人的研发；网络与信息安全软件开发；人工智能应用软件开发等。企查查股权穿透显 示，该公司由明新旭腾、上海清宝引擎机器人有限公司共同持股。公开信息显示，该公司将开展灵巧手 制造等业务。 ...

Core Viewpoint - Mingxin Xuteng's stock price has shown significant volatility, with a year-to-date increase of 87.81%, but a recent decline of 17.64% over the past 20 days, indicating potential market fluctuations and investor sentiment changes [1][2]. Financial Performance - For the first half of 2025, Mingxin Xuteng reported revenue of 603 million yuan, representing a year-on-year growth of 29.26%. However, the net profit attributable to shareholders was a loss of 29.39 million yuan, a decrease of 393.49% compared to the previous period [2]. - The company has distributed a total of 191 million yuan in dividends since its A-share listing, with 16.25 million yuan distributed over the last three years [3]. Shareholder and Market Activity - As of June 30, 2025, the number of shareholders decreased by 8.01% to 10,300, while the average number of circulating shares per person increased by 8.71% to 15,775 shares [2]. - The stock has appeared on the "Dragon and Tiger List" four times this year, with the most recent appearance on August 19 [1]. Company Overview - Mingxin Xuteng New Materials Co., Ltd. is located in Jiaxing, Zhejiang Province, and specializes in the research, production, and sales of new materials for automotive interiors. The company was established on December 7, 2005, and went public on November 23, 2020 [1]. - The company operates within the automotive industry, specifically in the automotive parts sector, focusing on body accessories and decorative components [1].

证券代码：605068 证券简称：明新旭腾 公告编号：2025-102 转债代码：111004 转债简称：明新转债 明新旭腾新材料股份有限公司 关于与关联方共同投资设立合资公司 暨关联交易的二次风险提示及补充公告 根据双方签署的《合资协议》第3.5条约定，"若乙方用以出资的知识产权最终未能取得专利权证书或无 法办理转让手续的，则该等知识产权应按照在评估报告中对应的评估值占整体评估值的比例乘以420万 元于乙方实缴金额中扣除，乙方在5个工作日内以现金方式补足出资或以灵巧手相关知识产权经评估后 补充出资（具体知识产权需事先经甲方确认），或由新公司按照双方的持股比例同比例减资。" 尽管协议已设置相关补救机制，但仍需要关注：专利若未能顺利获批，可能会对合资公司的技术基础产 生一定影响；合作方作为尚处亏损阶段的科创企业，其现金流状况可能会在现金补足能力上带来一些不 确定性。综合上述因素，可能会对合资公司的技术完整性与运营稳定性产生一定程度的影响。 7、技术团队交割风险 根据双方签署的《合资协议》第3.4条约定，"甲方出资缴付的前期条件： (1)乙方技术人员2名（要求在灵巧手领域有一定经验，确定转移前需要得到甲方的书面批 ...

证券代码：605068 证券简称：明新旭腾 公告编号：2025-102 转债代码：111004 转债简称：明新转债 明新旭腾新材料股份有限公司 关于与关联方共同投资设立合资公司 暨关联交易的二次风险提示及补充公告 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。 2025 年 10 月 21 日，明新旭腾新材料股份有限公司（以下简称"公司"或 "甲方"）披露了《关于与关联方共同投资设立合资公司暨关联交易的公告》（公 告编号：2025-100），公司与上海清宝引擎机器人有限公司（以下简称"乙方"） 签署合资协议共同投资设立旭清灵动（上海）具身智能科技有限公司（以下简称 "合资公司"或"新公司"，暂定名，具体以工商登记注册的名称为准）。同日， 公司披露了《关于与关联方共同投资设立合资公司暨关联交易的风险提示及补充 公告》（公告编号：2025-101），现就上述公告内容进行二次风险提示及补充说 明如下： 一、本次交易存在的风险 6、知识产权法律状态及价值补偿不确定性风险 尽管协议已设置相关补救机制，但仍需要关注：专利若未能顺利获批，可 ...

Economic Overview - The National Bureau of Statistics reported that the GDP for the first three quarters reached 10,150.36 billion yuan, with a year-on-year growth of 5.2%, accelerating by 0.2 and 0.4 percentage points compared to the full year of 2024 and the same period in 2024 respectively, indicating a stable economic performance with a solid foundation for achieving annual targets [2][5]. Industry Insights - China is approaching a large-scale retirement phase for power batteries, with the domestic market for battery recycling expected to exceed 100 billion yuan by 2030 [3][5]. - The Ministry of Industry and Information Technology held a meeting emphasizing the need for cement industry backbone enterprises to strictly implement capacity replacement policies by the end of 2025 [5]. - The "Wind Energy Beijing Declaration 2.0" was released at the 2025 Beijing International Wind Energy Conference, stating that during the 14th Five-Year Plan period, China's annual new wind power installation should not be less than 120 million kilowatts, with offshore wind power installations not less than 15 million kilowatts [5]. Company Performance - Zhuhai Huajun Technology reported a significant increase in revenue and net profit for the first three quarters, with revenue of 3.903 billion yuan, up 66.53%, and net profit of 492 million yuan, up 142.19% [10]. - Ningde Times reported a net profit of 18.5 billion yuan for the third quarter, a year-on-year increase of 41%, with revenue of 104.19 billion yuan, up 12.9% [12]. - Longsheng Technology's third-quarter revenue was 586 million yuan, a slight increase of 0.48%, while net profit grew by 109.83% to 106 million yuan [12]. Market Trends - The demand for 1.6T optical modules has been continuously revised upward, with total demand expected to increase from 1,000 million to 2,000 million units due to the rapid growth in AI training and inference network bandwidth requirements [11]. - The semiconductor sector saw significant net subscriptions in ETFs, with semiconductor-themed ETFs and non-bank financial ETFs attracting net subscriptions of 33.3 billion yuan and 18.6 billion yuan, respectively [6]. Strategic Developments - Dazhu CNC's strong performance is attributed to the growing demand for high-tech PCB products, particularly in AI computing and automotive electronics [10]. - The company plans to expand its production capacity for high-speed interconnect products to meet the diverse needs of domestic and international clients in data center construction and AI applications [14].