Core Viewpoint - Qifan Cable is a leading cable manufacturer in Shanghai, with a strong focus on high-end specialty cables and a significant market presence in various sectors including ultra-high voltage and nuclear power [1][2]. Financial Performance - In Q3 2025, Qifan Cable achieved a revenue of 16.156 billion yuan, ranking 4th in the industry, significantly above the industry average of 5.823 billion yuan [2] - The net profit for the same period was 223 million yuan, placing the company 8th in the industry and exceeding the industry average net profit of 131 million yuan by 70% [2] Financial Ratios - As of Q3 2025, Qifan Cable's debt-to-asset ratio was 68.30%, higher than the previous year's 66.95% and above the industry average of 54.36% [3] - The gross profit margin was 6.14%, an increase from 5.60% year-on-year, but still below the industry average of 13.49% [3] Management Compensation - The chairman, Zhou Guihua, received a salary of 1.424 million yuan in 2024, a decrease of 187,400 yuan from 2023 [4] - The general manager, Zhou Gonghua, earned 1.5677 million yuan in 2024, down by 16,300 yuan from the previous year [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 11.80% to 15,500 [5] - The average number of circulating A-shares held per shareholder increased by 13.38% to 26,700 [5] Business Highlights - Qifan Cable's traditional land cable business is stable, with improving profitability, while the submarine cable business is expected to achieve technological breakthroughs [5] - The company has completed the R&D for its entire range of submarine cable products and has production capabilities at its Yichang base, with further expansion planned in Pingtan [5]

Core Insights - The company reported a total revenue of 16.156 billion yuan for Q3 2025, a decrease of 209 million yuan or 1.28% compared to the same period last year [1] - The net profit attributable to shareholders was 223 million yuan, with a negative cash flow from operating activities amounting to -1.178 billion yuan, ranking 84th among peers [1] Financial Performance - The latest asset-liability ratio stands at 68.30%, an increase of 1.25 percentage points from the previous quarter and 1.35 percentage points from the same period last year, ranking 80th among peers [3] - The gross profit margin is reported at 6.14%, ranking 83rd among peers, while the return on equity (ROE) is 4.61%, ranking 50th [3] - The diluted earnings per share are 0.54 yuan, with a total asset turnover ratio of 1.10 times, a decrease of 0.07 times or 6.19% year-on-year [4] Shareholder Structure - The number of shareholders is 15,500, with the top ten shareholders holding 316 million shares, accounting for 76.53% of the total share capital [4] - The largest shareholder is Zhou Yilai, holding 22.04%, followed by Zhou Guihua at 20.59% and Zhou Guixing at 15.50% [4]

Core Insights - The company reported a revenue of 5,990,900,271.20 yuan for the third quarter of 2025, representing a year-on-year decrease of 1.42% [1] - The net profit attributable to shareholders of the listed company was 59,876,101.65 yuan, showing a significant year-on-year increase of 158.82% [1] Financial Performance - Revenue for Q3 2025: 5,990,900,271.20 yuan, down 1.42% compared to the same period last year [1] - Net profit for Q3 2025: 59,876,101.65 yuan, up 158.82% year-on-year [1]

Core Insights - The company reported a revenue of 16.156 billion yuan for the first three quarters of 2025, representing a year-on-year decline of 1.28% [1] - The net profit attributable to shareholders was 223 million yuan, showing a year-on-year increase of 6.3% [1] - The net profit excluding non-recurring items was 204 million yuan, reflecting a year-on-year growth of 2.27% [1] - The basic earnings per share stood at 0.54 yuan [1]

公司自成立以来始终专注于电线电缆的研发、生产与销售，其产品广泛应用 于电力、能源、交通、建筑、通信等多个国家重点建设领域，通过不断加大研发 投入、引进先进生产设备、优化生产工艺流程，在特种电缆、高压电缆、海底电 缆等高附加值产品领域取得突破性进展，形成了覆盖全品类、多场景的产品体系， 满足客户多样化、定制化的需求。 公司始终坚守实业初心，坚持"聚焦主业、做精做强"和"海陆并进"的发 展战略，持续提升产品品质与服务价值，走出了一条以主营业务为根基、以经营 质量为导向的高质量发展道路。为提升经营质量，公司持续推进精益生产管理模 式，全面优化从采购到物流的供应链管理，有效控制成本，提高资产周转效率， 并大力推行信息化、数字化建设，通过 ERP 等系统实现生产全流程的可视化与智 能化管控，确保产品质量稳定可靠、交货及时，显著提升了客户满意度和市场响 | 证券代码：605222 | 证券简称：起帆电缆 | 公告编号：2025-075 | | --- | --- | --- | | 债券代码：111000 | 债券简称：起帆转债 | | 应速度。坚持"质量为本"的原则，建立了完善的质量管理体系，严格执行国家 及行业标准， ...

| 证券代码：605222 | 证券简称：起帆电缆 | 公告编号：2025-076 | | --- | --- | --- | | 债券代码：111000 | 债券简称：起帆转债 | | 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： 一、说明会类型 上海起帆电缆股份有限公司（以下简称"公司"）已于 2025 年 10 月 29 日 在上海证券交易所网站（www.sse.com.cn）披露了《2025 年第三季度报告》。 为加强与投资者的深入交流，使投资者更加全面、深入地了解公司情况，公司拟 以网络互动的方式召开 2025 年第三季度业绩说明会，欢迎广大投资者积极参与。 公司现就 2025 年第三季度业绩说明会提前向广大投资者征集相关问题，广泛听 取投资者的意见和建议。 二、说明会召开的时间、地点 1 会议召开时间：2025 年 10 月 31 日（星期五）10:00-11:00 会议召开地点：中国证券网（http://roadshow.cnstock.com/） 会议召开方式：网络互动 问题征集方式：投资者可 ...

| 证券代码：605222 | 证券简称：起帆电缆 | 公告编号：2025-074 | | --- | --- | --- | | 债券代码：111000 | 债券简称：起帆转债 | | 具体内容详见公司同日刊登在上海证券交易所网站（www.sse.com.cn）及公 司指定信息披露媒体上披露的《上海起帆电缆股份有限公司 2025 年第三季度报 告》。 本议案已经公司董事会审计委员会审议通过，同意提交公司董事会审议。 表决情况：9 票赞成，0 票反对，0 票弃权。 上海起帆电缆股份有限公司 第四届董事会第五次会议决议公告 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法律责任。 一、董事会会议召开情况 上海起帆电缆股份有限公司（以下简称"公司"）第四届董事会第五次会议 （以下简称"本次会议"）通知于 2025 年 10 月 23 日以书面、电子邮件方式发出， 会议于 2025 年 10 月 28 日以现场结合通讯方式召开（现场会议地址：上海起帆 电缆股份有限公司二楼会议室）。本次会议应到董事 9 名，实到董事 9 名。本次 会议由董事长 ...

Core Viewpoint - The company reported a decline in revenue for Q3 2025, while net profit showed significant growth compared to the previous year [1] Financial Performance - Revenue for Q3 2025 was 5.991 billion yuan, representing a year-on-year decrease of 1.42% [1] - Net profit attributable to shareholders was 59.8761 million yuan, reflecting a year-on-year increase of 158.82% [1] - Net profit attributable to shareholders after deducting non-recurring gains and losses was 56.3096 million yuan, which is a year-on-year increase of 153.14% [1]

Group 1 - The company Qifan Cable (SH 605222) announced that its fourth board meeting will be held on October 28, 2025, to discuss the "Quality Improvement and Efficiency Recovery" action plan for 2025 [1] - For the year 2024, Qifan Cable's revenue composition is 97.84% from manufacturing and 2.16% from other businesses [1] - As of the report, Qifan Cable has a market capitalization of 7.8 billion yuan [1] Group 2 - The A-share market has surpassed 4,000 points, marking a significant resurgence after a decade of stagnation, with technology leading the market's transformation [1] - A new "slow bull" market pattern is emerging, indicating a shift in market dynamics [1]

Financial Performance - The company's operating revenue for the third quarter was CNY 5,990,900,271.20, a decrease of 1.42% compared to the same period last year[4] - Total profit for the quarter reached CNY 93,125,676.48, representing a significant increase of 211.22% year-on-year[4] - Net profit attributable to shareholders was CNY 59,876,101.65, up 158.82% compared to the previous year[4] - The basic earnings per share for the quarter was CNY 0.15, reflecting a 150% increase from the same period last year[5] - The weighted average return on net assets increased to 1.24%, up by 0.75 percentage points year-on-year[5] - Net profit for the first three quarters of 2025 was CNY 223,401,099.57, an increase of 6.67% from CNY 210,548,074.70 in 2024[22] - Earnings per share for the first three quarters of 2025 was CNY 0.54, up from CNY 0.50 in the same period of 2024[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 15,375,378,020.67, an increase of 10.50% compared to the end of the previous year[5] - Total current assets as of September 30, 2025, amount to ¥12,456,719,827.10, an increase from ¥10,956,711,804.72 as of December 31, 2024[17] - Total liabilities increased to ¥8,530,818,968.17 from ¥7,403,153,482.17 year-over-year[18] - The total assets of the company as of September 30, 2025, are ¥15,375,378,020.67, compared to ¥13,914,370,073.55 at the end of 2024[18] - The total liabilities increased to CNY 10,501,760,020.33 in 2025 from CNY 9,267,645,302.75 in 2024, marking an increase of 13.27%[19] - Total equity increased to CNY 4,873,618,000.34 in 2025 from CNY 4,646,724,770.80 in 2024, reflecting a growth of 4.89%[19] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY -1,177,738,833.35, indicating a decline in cash inflow[5] - The net cash flow from operating activities for the first three quarters of 2025 was negative CNY 1,177,738,833.35, compared to negative CNY 816,193,095.59 in 2024, indicating a worsening cash flow situation[25] - The net cash flow from investment activities was -352,137,424.77, compared to -328,600,259.76 in the previous period, indicating a decline in investment performance[26] - Cash inflow from financing activities totaled 4,512,340,711.92, up from 3,639,600,000.00, reflecting an increase in financing efforts[26] - The net cash flow from financing activities improved to 461,505,667.82 from -509,224,001.74, showing a positive turnaround in financing operations[26] - The total cash and cash equivalents at the end of the period were 621,918,248.71, slightly up from 601,719,227.69 in the previous period[26] Shareholder Information - Total number of common shareholders at the end of the reporting period is 15,461[13] - The largest shareholder, Zhou Gonghua, holds 91,008,200 shares, representing 22.04% of total shares[14] - The company has not disclosed any significant changes in shareholder participation in margin trading or securities lending[14] Operational Insights - The company reported a significant increase in gross profit margin, which contributed to the rise in total profit[10] - The company plans to continue expanding its market presence and investing in new product development to drive future growth[10] - The company experienced a significant increase in other income, which rose to CNY 37,259,526.36 in 2025 from CNY 13,177,603.20 in 2024[21] - The company reported a decrease in sales expenses to CNY 254,781,602.66 in 2025 from CNY 223,095,990.66 in 2024, indicating a rise of 14.24%[21] Accounting and Reporting Changes - The company plans to implement new accounting standards starting in 2025, which may affect future financial reporting[27]