Financial Performance - The company's operating revenue for Q3 2025 was ¥704,190,334.20, a decrease of 27.05% compared to the same period last year[5] - The total profit for Q3 2025 was ¥1,934,884.32, reflecting a significant decline of 90.87% year-over-year[5] - The net profit attributable to shareholders for Q3 2025 was ¥1,962,901.32, down 83.03% from the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥4,845,793.72, a decrease of 156.29% compared to the same period last year[5] - Basic earnings per share for Q3 2025 were ¥0.0157, down 81.39% year-over-year[6] - Total operating revenue for the first three quarters of 2025 was CNY 1,957,273,810.08, a decrease of 34% compared to CNY 2,966,339,237.28 in the same period of 2024[21] - Net profit for the first three quarters of 2025 was CNY 48,501,452.13, a decline of 43% from CNY 85,049,888.06 in the same period of 2024[22] - The company’s total comprehensive income for the first three quarters of 2025 was CNY 48,502,587.27, down from CNY 85,099,127.27 in 2024[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥10,915,753,537.57, a decrease of 3.24% from the end of the previous year[6] - The total current assets as of September 30, 2025, amount to CNY 9,068,559,826.74, a decrease from CNY 9,507,903,571.56 as of December 31, 2024, reflecting a decline of approximately 4.6%[16] - The total liabilities as of September 30, 2025, are CNY 9,068,559,826.74, compared to CNY 9,507,903,571.56 as of December 31, 2024, indicating a reduction of around 4.6%[17] - The company reported a total liability of CNY 9,246,637,310.17 as of the end of the reporting period, compared to CNY 9,629,085,600.98 in the previous year[18] - The total equity attributable to shareholders of the parent company was CNY 1,552,900,891.96, slightly up from CNY 1,539,284,389.77 in the previous year[18] Cash Flow - The company reported a cash flow from operating activities of ¥165,825,072.94 for the year-to-date period[6] - In the first three quarters of 2025, the net cash flow from operating activities was approximately ¥165.83 million, a significant decline compared to a net outflow of ¥139.75 million in the same period of 2024[24] - Total cash inflow from operating activities for the first three quarters of 2025 was ¥2.96 billion, while cash outflow was ¥2.80 billion, resulting in a net cash flow from operations[24] - Cash inflow from financing activities in the first three quarters of 2025 was approximately ¥4.74 billion, while cash outflow was about ¥4.99 billion, leading to a net cash outflow of ¥254.34 million[25] - The company's cash and cash equivalents at the end of the first three quarters of 2025 stood at approximately ¥1.00 billion, a decrease from ¥953.86 million at the end of the same period in 2024[25] Operational Efficiency - The decline in revenue and profit was primarily due to overall market demand slowdown and intensified industry competition[10] - The company paid approximately ¥209.65 million to employees in the first three quarters of 2025, compared to ¥260.34 million in 2024, reflecting a reduction in labor costs[24] - Research and development expenses for the first three quarters of 2025 were CNY 33,050,873.79, a decrease of 43% from CNY 58,231,044.44 in 2024[21] - The company experienced a credit impairment loss of CNY 94,239,021.73 in the first three quarters of 2025, compared to a gain of CNY 226,535.11 in the same period of 2024[22] Asset Management - The cash and cash equivalents increased to CNY 1,899,721,775.18 from CNY 1,867,382,616.50, showing a growth of about 1.8%[16] - Accounts receivable decreased to CNY 3,925,108,630.44 from CNY 4,012,721,229.23, representing a decline of approximately 2.2%[16] - The company’s short-term borrowings decreased to CNY 2,372,481,860.25 from CNY 2,472,136,573.82, showing a reduction of approximately 4.0%[17] - The company’s inventory increased slightly to CNY 46,604,931.44 from CNY 45,193,399.94, reflecting a growth of about 3.1%[16] - The company reported a significant amount of CNY 2,250,141,696.80 in contract assets as of September 30, 2025, compared to CNY 2,459,614,938.89 at the end of 2024, indicating a decrease of about 8.5%[16] Investment Activities - The cash flow from investment activities showed a net outflow of approximately ¥13.07 million in 2025, compared to a much larger outflow of ¥84.49 million in 2024[25] - The cash flow from investment activities included cash received from the disposal of fixed assets amounting to approximately ¥6.83 million in 2025[25] - The impact of exchange rate fluctuations on cash and cash equivalents was a decrease of ¥5,203.16 in 2025, contrasting with an increase of ¥49,239.21 in 2024[25]

证券代码：605287 证券简称：德才股份 公告编号：2025-072 德才装饰股份有限公司 特此公告。 | 经营数据 | 装饰装修 业务 | 房屋建筑 业务 | 市政业务 | 其他 | 总计 | | --- | --- | --- | --- | --- | --- | | 2025年第三季度新签 项目数量（个） | 19 | 4 | 3 | 26 | 52 | | 2025年第三季度新签 项目总金额（万元） | 30,095 | 71,394 | 5,611 | 6,894 | 113,995 | | 2025年累计新签项目 数量（个） | 65 | 10 | 11 | 83 | 169 | | 2025年累计新签项目 总金额（万元） | 178,281 | 143,700 | 15,480 | 16,114 | 353,575 | （注：若出现总数与各分项数值之和尾数不符的情况，均为四舍五入原因造成。） 面对市场、经济等外部环境因素的影响，公司 2025 年前三季度新签项目金 额较上年同期下降，主要系公司持续优化订单结构和调整业务布局。在订单筛选 方面，公司提高了准入门槛，聚焦进度款条件较好项目，从源头 ...

证券代码：605287 证券简称：德才股份 公告编号：2025-073 德才装饰股份有限公司 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。 德才装饰股份有限公司（以下简称"公司"）为更加真实、准确地反映公司 资产状况和经营成果，根据《企业会计准则》和公司会计政策相关规定，基于谨 慎性原则，公司对截至2025年9月30日合并报表范围内可能存在减值迹象的资产 计提了减值准备。现将相关情况公告如下： 一、 本次计提资产减值准备情况概述 根据《企业会计准则》和公司相关会计政策规定，为客观、公允地反映公司 2025 年 1-9 月的经营成果，公司及下属子公司对截至 2025 年 9 月 30 日的公司 资产进行了减值测试，公司 2025 年 1-9 月转回各项资产减值准备合计 9,973.28 万元。具体情况如下表所示： | 项目 | 2025 年 1-9 月计提金额（万元） （负数表示转回） | | --- | --- | | 一、信用减值损失 | -9,423.90 | | 其中：应收票据坏账损失 | -1,113.45 | ...

证券代码：605287 证券简称：德才股份 公告编号：2025-074 德才装饰股份有限公司 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 问 题 征 集 ： 投 资 者 可 于 2025 年 11 月 7 日 前 访 问 网 址 https://eseb.cn/1sHQArXJkfC 或扫描下方小程序码，点击"互动交流"进行会 前提问，公司将通过本次业绩说明会，在信息披露允许范围内就投资者普遍关注 的问题进行回答。 一、说明会类型 德才装饰股份有限公司（以下简称"公司"）已于 2025 年 10 月 31 日在上海 证券交易所网站（www.sse.com.cn）披露了《德才股份 2025 年第三季度报告》。 为便于广大投资者更加全面深入地了解公司经营业绩、发展战略等情况，公司定 于 2025 年 11 月 7 日（星期五）15:00-16:00 在"价值在线"（www.ir-online.cn） 召开 2025 年第三季度业绩说明会，与投资者进行沟通和 ...

Market Overview - The decoration and renovation sector experienced a decline of 0.71% on October 30, with leading stock Jin Tang Lang showing the most significant drop [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Stock Performance - Notable gainers in the sector included: - *ST Dongyi (002713): Closed at 10.84, up 5.04% with a trading volume of 374,800 shares and a turnover of 402 million yuan - *ST Jianyi (002789): Closed at 10.65, up 5.03% with a trading volume of 35,200 shares and a turnover of 36.84 million yuan - *ST Baoying (002047): Closed at 2.93, up 5.02% with a trading volume of 18,200 shares and a turnover of 5.34 million yuan [1] - Conversely, significant decliners included: - Jin Bi Bu (002081): Closed at 3.42, down 5.79% with a trading volume of 766,600 shares and a turnover of 266 million yuan - Zheng Zhong Design (002811): Closed at 12.65, down 2.99% with a trading volume of 106,500 shares and a turnover of 136 million yuan - Guangtian Group (002482): Closed at 1.82, down 2.67% with a trading volume of 1,263,000 shares and a turnover of 232 million yuan [2] Capital Flow - The decoration and renovation sector saw a net outflow of 126 million yuan from institutional investors, while retail investors contributed a net inflow of 49.94 million yuan [2] - The capital flow for specific stocks indicated: - Jin Bi Bu (002081): Main investor net inflow of 16.4 million yuan, retail net outflow of 22.71 million yuan - ST Ruihe (002620): Main investor net inflow of 5.81 million yuan, retail net outflow of 3.58 million yuan - *ST Jianyi (002789): Main investor net inflow of 4.17 million yuan, retail net outflow of 2.62 million yuan [3]

Group 1 - De Cai Co., Ltd. announced the transfer of approximately 7.6 million shares (5.43% of total share capital) from Chengshi Fund to Gao Yichenyan, with the transfer agreement signed on September 10, 2025 [1] - The transfer transaction received compliance confirmation from the Shanghai Stock Exchange on October 10, 2025, and the share transfer registration was completed on October 24, 2025 [1] - For the year 2024, De Cai Co., Ltd.'s revenue composition is 98.23% from the construction decoration industry and 1.77% from other businesses [1] Group 2 - As of the report date, De Cai Co., Ltd. has a market capitalization of 3.8 billion yuan [2]

证券代码：605287 证券简称：德才股份 公告编号：2025-070 德才装饰股份有限公司 关于调整回购股份价格上限的公告 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。 为保障本次回购股份方案顺利实施，德才装饰股份有限公司（以下简称 "公司"）本次回购股份价格上限由不超过人民币 18.80 元/股（含）调整为不超 过人民币 32.50 元/股（含），该调整后的回购股份价格上限不高于公司董事会决 议前 30 个交易日公司股票交易均价的 150%。 除调整回购股份价格上限外，本次回购方案的其他内容不变。 本次调整回购股份价格上限的事项已经公司第五届董事会第四次会议审 议通过，无需提交股东会审议。 一、公司回购股份方案概述 公司于 2025 年 1 月 17 日召开了第四届董事会第二十四次会议，审议通过了 《关于以集中竞价交易方式回购股份方案的议案》，同意公司用自有资金及银行 股票回购专项贷款以集中竞价交易方式回购公司股份，回购价格不超过人民币 18.80 元/股（含），回购期限自公司董事会审议通过本次回购股份方案之日起 12 ...

证券代码：605287 证券简称：德才股份 公告编号：2025-071 德才装饰股份有限公司 关于公司股东协议转让股份过户完成的公告 本公司董事会、全体董事及相关股东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。 德才装饰股份有限公司（以下简称"公司"或"德才股份"）持股 5%以 上股东青岛城世私募基金管理有限公司－青岛城高世纪基金投资管理中心（有限 合伙）（以下简称"城世基金"）与上海皋颐私募基金管理有限公司（代表其管理 的"皋颐辰焱 1 号私募证券投资基金"）（以下简称"皋颐辰焱"）于 2025 年 9 月 10 日签署了《股份转让协议》，城世基金拟将持有的德才股份无限售条件流通 股份 7,596,983 股（占公司总股本的 5.43%）通过协议转让的方式转让给皋颐辰 焱。 本次协议转让交易已于 2025 年 10 月 10 日取得上海证券交易所的合规性 确认，并于 2025 年 10 月 24 日取得中国证券登记结算有限责任公司出具的《证 券过户登记确认书》，过户日期为 2025 年 10 月 23 日，过户数量为 7,596,983 股（占 ...

Core Viewpoint - The company, Decai Co., Ltd. (605287.SH), announced an adjustment to its share repurchase plan, increasing the maximum repurchase price from 18.80 yuan per share to 32.50 yuan per share [1] Summary by Relevant Sections - **Company Announcement** - Decai Co., Ltd. has decided to raise the upper limit of its share repurchase price to 32.50 yuan per share to ensure the smooth implementation of the repurchase plan [1]

Core Viewpoint - The announcement indicates a significant share transfer involving a major shareholder, which may impact the company's ownership structure and market perception [1] Share Transfer Details - Chengshi Fund, a shareholder holding over 5%, signed a share transfer agreement with Gao Yichengyan on September 10, 2025, to transfer 7,596,983 shares, representing 5.43% of the total share capital [1] - The transaction received compliance confirmation from the Shanghai Stock Exchange on October 10 and was completed with the transfer registration on October 24, with the effective transfer date being October 23 [1] - Post-transfer, Chengshi Fund's shareholding decreased to 3.46%, while Gao Yichengyan's shareholding increased to 5.43% [1] Lock-up Commitment - The acquiring party, Gao Yichengyan, has committed not to reduce their holdings within 12 months following the transfer [1] Impact on Control and Operations - The share transfer does not involve a tender offer and does not affect the control rights or the company's operations [1]