Economic News - China's National Energy Administration issued 229 million green certificates in September, involving 306,500 renewable energy projects, with 158 million being tradable, accounting for 68.86% [4] - The price of storage chips has accelerated in the fourth quarter due to a shift in production capacity towards high-end chips for AI and data centers, leading to a significant reduction in traditional storage chip supply [6] - The global smartphone market is expected to reach a shipment volume of 320.1 million units in Q3 2025, reflecting a 3% year-on-year growth, indicating signs of recovery after a weak first half [7] Company Insights - Sinopec Easy Joy and Taobao Flash Purchase announced a strategic partnership, with plans to have over 5,000 stores on the Taobao platform by the end of the year [5] - Pop Mart opened its first store in the Middle East at Hamad International Airport in Qatar, marking its first 24/7 operational store globally [5] - Youyan New Materials reported Q3 revenue of 2.674 billion yuan, a year-on-year increase of 20.43%, and a net profit of 115 million yuan, up 56.31% [5] - Tianli Lithium Energy's Q3 revenue was 569 million yuan, a 33.25% year-on-year increase, but it reported a net loss of 28.85 million yuan, an increase of 67.68% in losses [5] - China Telecom showcased its "Beidou Voice Message" service, becoming the first operator to implement this technology [5] Industry Analysis - The food and beverage industry is expected to benefit from the expansion of overall consumption, with new retail channels like instant retail and membership supermarkets emerging as significant opportunities [8][9] - The non-ferrous metals industry is poised for improvement in profitability and valuation levels due to a favorable supply-demand structure, driven by high-quality green development paths [11] - The production of ten non-ferrous metals in China is projected to grow at an annual rate of approximately 1.5% from 2025 to 2026, indicating a shift towards stable, high-quality growth [13] - The demand for metals is expected to expand significantly due to the growth of new energy industries and structural changes in demand, particularly for copper, lithium, and other metals [15][16]

Group 1 - The company Parker New Materials (SH 605123) held its fourth board meeting on October 29, 2025, to review the proposal for revising its internal audit system [1] - For the year 2024, the revenue composition of Parker New Materials is projected to be 87.0% from the forging industry and 13.0% from other businesses [1] - As of the report date, Parker New Materials has a market capitalization of 9.1 billion yuan [1]

Group 1: Company Performance Highlights - Hu Silicon Industry (688126.SH) achieved a revenue of 1.697 billion CNY in H1 2025, a year-on-year increase of 8.16%[9] - Jingzhida (688627.SH) reported a revenue of 444 million CNY in H1 2025, up 22.68% year-on-year[12] - Kingsoft Office (688111.SH) generated a revenue of 2.657 billion CNY in H1 2025, reflecting a 10.12% increase year-on-year[22] Group 2: Market Trends and Projections - The average selling price of 200mm semiconductor wafers has slightly rebounded due to product mix changes, although the market for 200mm and below wafers remains weak[11] - The smart connected vehicle market for wireless communication modules is projected to grow from 2.3 billion CNY in 2020 to 5 billion CNY by 2024, with a CAGR of 21%[19] - The lithium battery equipment sector is expected to see a resonance of cycles and growth, potentially leading to a "Davis Double" effect due to domestic leadership in integration[36] Group 3: Investment Ratings and Forecasts - Hu Silicon Industry is projected to have EPS of 0.02, 0.09, and 0.13 CNY for 2025-2027, maintaining a "recommend" rating[11] - Jingzhida's EPS forecast for 2025-2027 is 1.92, 2.88, and 3.80 CNY, with a "recommend" rating[16] - Kingsoft Office's projected net profit for 2025-2027 is 1.768 billion, 2.150 billion, and 2.693 billion CNY, with a strong recommendation rating[24] Group 4: Risk Factors - Risks include lower-than-expected downstream demand, intensified market competition, and potential technological iteration risks across various sectors[17][35]

证券代码：605123 证券简称：派克新材 公告编号：2025-050 关于无锡派克新材料科技股份有限公司 关于使用暂时闲置募集资金进行现金管理的公告 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： 基本情况 | 投资金额 | _不超过 40,000_万元 | | --- | --- | | 投资种类 | 低风险、短期（不超过一年）的安全性高、流动性好 的保本型理财产品 | | 资金来源 | 募集资金 | 已履行及拟履行的审议程序 2025 年 10 月 29 日，公司召开第四届董事会第六次会议，审议通过了《关 于使用暂时闲置的募集资金进行现金管理的议案》，同意公司使用不超过 40,000 万元人民币的暂时闲置的募集资金进行现金管理投资保本型产品。本事项无需提 交公司股东会审议。 特别风险提示 尽管现金管理投资的保本型理财产品属于低风险投资品种，但金融市场受宏 观经济的影响较大，公司将根据经济形势以及金融市场的变化适时适量的介入， 但不排除该项投资受到市场波动的影响。 一、投资情况概述 （一）投资目的 在保证公 ...

证券代码：605123 证券简称：派克新材 公告编号：2025-052 无锡派克新材料科技股份有限公司 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、准确性和完整性依法承担法律责任。 为进一步加强与投资者的互动交流，促进上市公司进一步做好投资者关系 管理工作，无锡派克新材料科技股份有限公司（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： 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）。 届时公司相关人员将在线就公司治理、发展战略、经营状况、融资计划、 股权激励和可持续发展等投资者关心的问题，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。 无锡派克新材料科技股份有限公司董事会 2025 年 10 月 30 日 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥903,380,749.29, an increase of 7.97% compared to the same period last year[4] - The total profit for the quarter was ¥64,015,670.38, a decrease of 24.65% year-over-year[4] - The net profit attributable to shareholders was ¥62,096,410.51, down 24.09% from the previous year[4] - The net profit after deducting non-recurring gains and losses decreased by 31.78% to ¥52,107,833.09[6] - Total operating revenue for the first three quarters of 2025 reached ¥2,681,295,266.32, an increase of 8.05% compared to ¥2,481,737,531.76 in the same period of 2024[20] - Net profit for the first three quarters of 2025 was ¥237,484,834.54, a decrease of 3.99% from ¥246,969,977.70 in the previous year[21] - The company recorded a total profit of CNY 262,267,316.47 for the first three quarters of 2025, compared to CNY 282,151,922.53 in the same period of 2024, reflecting a decrease of 7.1%[30] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date increased by 32.55% to ¥531,867,325.58, primarily due to increased sales receipts and government subsidies[5] - Operating cash inflow for the first three quarters of 2025 reached CNY 2,803,123,369.28, an increase of 12.4% compared to CNY 2,493,394,846.45 in the same period of 2024[23] - The net cash flow from operating activities for the first three quarters of 2025 was CNY 264,775,462.84, down 30.1% from CNY 378,667,166.69 in the same period of 2024[32] - The company reported a net increase in cash and cash equivalents of CNY 921,081,047.02 for the first three quarters of 2025, compared to a decrease of CNY -289,153,653.89 in the previous year[25] - Total cash and cash equivalents at the end of September 2025 amounted to CNY 2,057,897,669.78, compared to CNY 1,177,513,617.39 at the end of 2024, reflecting a significant increase[25] Assets and Liabilities - The total assets at the end of the reporting period were ¥8,197,132,494.24, reflecting a year-over-year increase of 13.31%[5] - The company's current assets reached CNY 5,884,475,777.74, compared to CNY 5,260,390,177.68 in the previous year, indicating a year-over-year increase of about 11.8%[17] - The company's total liabilities rose to ¥3,577,376,466.59, compared to ¥2,820,506,454.72 in the previous year, reflecting a significant increase of 27%[19] - Total liabilities increased to CNY 3,165,952,790.68 from CNY 2,612,027,820.84, reflecting a rise of 21.2%[28] - The company's total cash inflow from investment activities in the first three quarters of 2025 was CNY 1,040,430,117.36, up from CNY 562,355,000.36 in the same period of 2024[32] Shareholder and Ownership Structure - The company reported no changes in the shareholding structure of the top 10 shareholders, maintaining stability in ownership[15] - The company has not engaged in any financing or margin trading activities during the reporting period, ensuring a conservative financial approach[15] Research and Development - Research and development expenses for the first three quarters were ¥128,102,075.75, slightly down from ¥128,440,981.60 in the same period last year[20] - Research and development expenses for the first three quarters of 2025 were CNY 120,530,765.51, slightly down from CNY 124,027,839.48 in the first three quarters of 2024[29] Other Financial Metrics - The weighted average return on equity decreased to 1.36%, down 27.66 percentage points compared to the previous year[5] - Basic and diluted earnings per share for the period were both ¥1.9599, down from ¥2.0382 in the previous year[22] - Other comprehensive income after tax amounted to ¥98,934.60, compared to a loss of -¥2,598.53 in the same period last year[21] - The company reported a financial expense of -¥50,676,773.46, compared to -¥16,686,228.64 in the previous year, indicating a significant increase in financial costs[20]

（四）本次会议应出席董事 5 人，实际出席董事 5 人。 （五）本次会议由董事长是玉丰先生主持，部分高级管理人员列席了会议。 证券代码：605123 证券简称：派克新材 公告编号：2025-051 无锡派克新材料科技股份有限公司 第四届董事会第六次会议决议公告 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、准确性和完整性依法承担法律责任。 一、董事会会议召开情况 （一）无锡派克新材料科技股份有限公司（以下或简称"公司"）第四届董 事会第六次会议的召集和召开程序符合《中华人民共和国公司法》、《无锡派克 新材料科技股份有限公司章程》的相关规定。 （二）本次会议已于 2025 年 10 月 24 日通过通讯送达方式发出通知。 （三）本次会议于 2025 年 10 月 29 日在公司会议室以现场表决方式召开。 （三）审议通过了《关于修订〈无锡派克新材料科技股份有限公司内部审计 制度〉的议案》。 具体内容详见公司同日刊登于上海证券交易所网站（www.sse.com.cn）及公 司法定信息披露媒体同日披露的《无锡派克新材料科技股份有限公司内部审计制 度》。 表决结果 ...

中信证券股份有限公司 关于无锡派克新材料科技股份有限公司 使用暂时闲置募集资金进行现金管理的核查意见 中信证券股份有限公司（以下简称"保荐人"）作为无锡派克新材料科技股 份有限公司（以下简称"派克新材"或"公司"）持续督导的保荐人，根据《证 券发行上市保荐业务管理办法》《上海证券交易所股票上市规则》《上市公司募集 资金监管规则》《上海证券交易所上市公司自律监管指引第 11 号——持续督导》 等有关规定，对派克新材拟使用暂时闲置的募集资金进行现金管理的情况进行了 认真、审慎的核查，并发表本核查意见，具体情况如下： 一、投资情况概述 （一）投资目的 在保证公司募投项目所需资金和保证募集资金安全的前提下，提高暂时闲置 的募集资金的使用效率，合理利用闲置的募集资金，增加公司收益，为公司和股 东谋取较好的投资回报。 （二）投资金额 公司使用最高额度不超过 4 亿元人民币的暂时闲置的募集资金进行现金管 理投资产品，该额度可滚动使用。 （三）资金来源 1、资金来源：资金为公司暂时闲置的募集资金。 2、募集资金的基本情况： 经中国证券监督管理委员会《关于核准无锡派克新材料科技股份有限公司非 公开发行股票的批复》（证监许可[2 ...

无锡派克新材料科技股份有限公司 内部审计制度 （经2025年10月29日第四届董事会第四次会议审议通过） 第一章 总则 第一条 为进一步规范无锡派克新材料科技股份有限公司（以下简称"公司"） 内部审计工作，提高内部审计工作质量，保护投资者合法权益，依据《中华人民共 和国审计法》、《上海证券交易所上市公司自律监管指引第 1 号——规范运作》、 《审计署关于内部审计工作的规定》等有关法律、法规、规章的规定及《无锡派克 新材料科技股份有限公司章程》（以下简称"《公司章程》"）等公司规章制度的 规定，并结合公司实际情况，制定本内部审计制度（以下简称"本制度"）。 第二条 本制度所称内部审计，是指由公司内部机构或人员，对公司内部控制和 风险管理的有效性、财务信息的真实性和完整性以及经营活动的效率和效果等开展 的一种评价活动。 内部审计的目的是建立公司内部的独立的评价职能，该职能目的是检查和评价 公司内部组织的经济活动。 内部审计的目标是帮助公司的各部门有效地履行各自的职责。内部审计为各部 门提供了与各项工作有关的分析、评价、建议、忠告和信息。 内部审计目标包括以合理的成本促进有效的控制。 第三条 内审部的宗旨是：通过开 ...

Core Viewpoint - Parker New Materials (605123.SH) reported a year-on-year increase in operating revenue for Q3 2025, but experienced a decline in net profit attributable to shareholders [1] Financial Performance - Operating revenue reached 903 million yuan, representing a year-on-year increase of 7.97% [1] - Net profit attributable to shareholders was 62.1 million yuan, showing a year-on-year decrease of 24.09% [1] - Net profit attributable to shareholders after deducting non-recurring gains and losses was 52.1 million yuan, reflecting a year-on-year decline of 31.78% [1]