二、会议议案审议情况 (一) 审议通过《2025 年三季度报告》 证券代码：605183 证券简称：确成股份 公告编号：2025-042 确成硅化学股份有限公司 第五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。 一、会议召开和出席情况 确成硅化学股份有限公司（以下简称"公司"）第五届董事会第四次会议于 2025 年 10 月 24 日以现场结合通讯的方式召开。本次会议应出席董事 7 人，实 际出席董事 7 人，其中以通讯方式出席 2 人。会议由董事长阙伟东先生主持。公 司高管列席了本次会议。本次会议的召集、召开符合《公司法》《公司章程》和 《董事会议事规则》的有关规定。 公司《2025 年三季度报告》已经公司第五届董事会审计委员会审议通过并 同意提交董事会审议。 具体内容详见公司同日在上海证券交易所网站（www.sse.com.cn）披露的 《2025 年三季度报告》。 表决结果：7 票同意、0 票反对、0 票弃权。 (二) 审议通过《关于回购注销 2025 年限制性股票激励计划中部分激励对 ...

Core Viewpoint - The company reported a slight increase in revenue and profit for the first three quarters of 2025, indicating stable financial performance despite a challenging market environment [1] Financial Performance - The company achieved an operating revenue of 1.653 billion yuan, representing a year-on-year growth of 1.16% [1] - The net profit attributable to shareholders reached 397 million yuan, reflecting a year-on-year increase of 4.78% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 400 million yuan, showing a year-on-year growth of 8.33% [1]

确成硅化学股份有限公司 2025 年第三季度报告 证券代码：605183 证券简称：确成股份 确成硅化学股份有限公司 2025 年第三季度报告 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： 公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完整，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。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 对公司将《公开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》未列举的项目认 定为非经常性损益项目且金额重大的，以及将《公开发行证券的公司信息披露解释性公告第 1 号 ——非经常性损益》中列举的非经常性损益项目界定为经常性损益的项目，应说明原因。 □适用 √不适用 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上 | | | 年初至报告期 末比上年同期 | | | - ...

Core Insights - The company reported a third-quarter revenue of 541 million, representing a year-on-year decrease of 3.99% [1] - The net profit for the third quarter was 121 million, showing a year-on-year increase of 3.33% [1] - For the first three quarters, the total revenue reached 1.653 billion, reflecting a year-on-year growth of 1.16% [1] - The net profit for the first three quarters amounted to 397 million, which is a year-on-year increase of 4.78% [1] Financial Performance - Third-quarter revenue: 541 million, down 3.99% year-on-year [1] - Third-quarter net profit: 121 million, up 3.33% year-on-year [1] - Year-to-date revenue: 1.653 billion, up 1.16% year-on-year [1] - Year-to-date net profit: 397 million, up 4.78% year-on-year [1]

Core Insights - The rubber sector experienced a rise of 1.95% on October 21, with Zhongyu Technology leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Sector Performance - Zhongyu Technology (code: 920694) saw a significant increase of 29.96%, closing at 25.07 with a trading volume of 96,500 shares and a transaction value of 234 million yuan [1] - Yanggu Huatai (code: 300121) increased by 6.37%, closing at 16.02 with a trading volume of 287,100 shares and a transaction value of 454 million yuan [1] - Other notable performers include: - Sanwei Equipment (code: 920834) up 5.81% to 15.67 [1] - Keqiang Co., Ltd. (code: 920665) up 4.46% to 13.58 [1] - Tiantie Technology (code: 300587) up 3.24% to 7.65 [1] Capital Flow - The rubber sector saw a net inflow of 61.99 million yuan from main funds, while retail funds experienced a net outflow of 21.72 million yuan [3] - Speculative funds had a net outflow of 40.27 million yuan [3]

Group 1 - The rubber sector experienced a rise of 1.53% on September 30, with Tongcheng New Materials leading the gains [1] - The Shanghai Composite Index closed at 3882.78, up 0.52%, while the Shenzhen Component Index closed at 13526.51, up 0.35% [1] - Key stocks in the rubber sector showed significant price increases, with Tongcheng New Materials rising by 4.69% to a closing price of 44.19 [1] Group 2 - The rubber sector saw a net inflow of main funds amounting to 88.47 million yuan, while retail investors experienced a net outflow of 131 million yuan [3] - The table of fund flows indicates that retail investors withdrew funds, contrasting with the inflow from institutional and speculative investors [3]

Market Overview - On September 29, the rubber sector increased by 1.5% compared to the previous trading day, with Tian Tie Technology leading the gains [1] - The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index closed at 13479.43, up 2.05% [1] Stock Performance - Tian Tie Technology (300587) closed at 8.76, with a rise of 9.64% and a trading volume of 602,200 shares, amounting to 511 million yuan [1] - Other notable performers include: - Kechuang Xinyuan (300731) at 45.70, up 3.25% [1] - Quecheng Co., Ltd. (605183) at 20.16, up 2.18% [1] - Zhen'an Technology (300767) at 23.84, up 2.01% [1] - Yuanxiang New Materials (301300) at 38.89, up 1.97% [1] Fund Flow Analysis - The rubber sector experienced a net outflow of 99.06 million yuan from institutional investors, while retail investors saw a net inflow of 98.50 million yuan [2] - The main fund flow for Zhen'an Technology (300767) showed a net inflow of 21.63 million yuan from institutional investors, despite a net outflow from retail investors [3] - Other stocks with significant fund flow include: - Longxing Technology (002442) with a net outflow of 3.42 million yuan from institutional investors [3] - Black Cat Co., Ltd. (002068) with a net outflow of 4.69 million yuan from institutional investors [3]

Investment Rating - The report maintains an "Accumulate" rating for the company [6][12]. Core Views - The company continues to experience growth in product sales and profitability in the first half of 2025. It has announced an investment in a biomass (rice husk) silica project to create new growth opportunities [2][12]. - The company achieved a revenue of 1.113 billion yuan in the first half of 2025, representing a year-on-year increase of 3.87%. The net profit attributable to the parent company was 276 million yuan, up 5.44% year-on-year [12]. - The company is expanding its production capacity and enhancing its product structure through various projects, including the biomass silica project and others [12]. Financial Summary - Total revenue is projected to grow from 1,810 million yuan in 2023 to 2,972 million yuan in 2027, with a compound annual growth rate (CAGR) of approximately 12.5% [4]. - Net profit attributable to the parent company is expected to increase from 413 million yuan in 2023 to 749 million yuan in 2027, reflecting a CAGR of about 13.6% [4]. - Earnings per share (EPS) is forecasted to rise from 0.99 yuan in 2023 to 1.80 yuan in 2027 [4]. - The company’s return on equity (ROE) is projected to remain stable around 15.4% from 2025 to 2027 [4]. Market Data - The company's target price is set at 25.20 yuan, with a current market capitalization of 8,243 million yuan [6][7]. - The stock has traded within a range of 13.98 to 21.83 yuan over the past 52 weeks [7]. Production and Capacity - The company ranks third globally in silica production capacity, with production bases in Wuxi, Fengyang, and Shaxian in China, as well as a facility in Thailand [12]. - The company is actively working on expanding its production capacity through ongoing projects and improving its international supply chain management [12].

Market Overview - The rubber sector experienced a decline of 1.75% on September 26, with Tian Tie Technology leading the drop [1] - The Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1] Stock Performance - Zhen An Technology saw a significant increase of 8.95%, closing at 23.37, with a trading volume of 343,000 shares and a transaction value of 800.3 million [1] - Tian Tie Technology reported a sharp decline of 7.95%, closing at 7.99, with a trading volume of 460,700 shares and a transaction value of 381 million [2] - Other notable performers included Ke Long New Materials, which increased by 1.26%, and Shuangjian Co., which rose by 0.76% [1] Capital Flow - The rubber sector experienced a net outflow of 348 million from institutional investors, while retail investors saw a net inflow of 202 million [2] - The data indicates that retail investors are actively participating in the market despite the overall decline in the sector [2] Individual Stock Capital Flow - Hai Da Co. had a net inflow of 11.75 million from institutional investors, while it faced a net outflow of 12.81 million from retail investors [3] - Zhen An Technology had a net inflow of 9.76 million from institutional investors but saw a net outflow of 12.10 million from retail investors [3] - Shuangjian Co. experienced a net inflow of 1.95 million from retail investors, despite a net outflow from institutional investors [3]

Market Overview - On September 18, the rubber sector increased by 0.88%, led by Sanwei Equipment, while the Shanghai Composite Index closed at 3831.66, down 1.15% [1] - The Shenzhen Component Index closed at 13075.66, down 1.06% [1] Key Performers in Rubber Sector - Yiwai Equipment (831834) closed at 26.00, up 30.00% with a trading volume of 141,700 shares and a transaction value of 332 million [1] - Kexin New Source (300731) closed at 49.72, up 9.39% with a trading volume of 228,800 shares and a transaction value of 1.122 billion [1] - Sanwei Co. (603033) closed at 13.22, up 6.27% with a trading volume of 299,200 shares and a transaction value of 392 million [1] - Zhenan Technology (300767) closed at 23.70, up 5.52% with a trading volume of 316,300 shares and a transaction value of 754 million [1] Fund Flow Analysis - The rubber sector saw a net inflow of 39.38 million from main funds, while retail investors experienced a net outflow of 116 million [2] - Speculative funds had a net inflow of 76.45 million [2] Individual Stock Fund Flow - Zhenan Technology (300767) had a main fund net inflow of 68.72 million, with a retail net outflow of 64.88 million [3] - Kexin New Source (300731) had a main fund net inflow of 60.62 million, with a retail net outflow of 21.22 million [3] - Sanwei Co. (603033) had a main fund net inflow of 9.68 million, with a retail net outflow of 11.59 million [3]