Financial Performance - The company's operating revenue for the third quarter was ¥179,017,550.73, a decrease of 5.53% compared to the same period last year[4] - The total profit for the third quarter was -¥22,201,210.04, with a year-to-date total profit of -¥61,088,066.48[4] - The net profit attributable to shareholders for the third quarter was -¥18,223,229.74, reflecting a significant decrease of 1,588.06% year-on-year[4] - Total operating revenue for the first three quarters of 2025 reached CNY 477,750,079.80, an increase of 3.6% compared to CNY 459,915,599.37 in the same period of 2024[20] - The net loss for the first three quarters of 2025 was CNY 47,442,576.72, compared to a net loss of CNY 34,112,911.79 in the same period of 2024, representing a decline of 39.2%[21] - The company reported a total comprehensive loss of CNY 41,912,388.49 for the first three quarters of 2025, compared to a loss of CNY 34,242,222.42 in 2024[22] Research and Development - Research and development expenses amounted to ¥19,162,367.94, representing 10.70% of operating revenue, an increase of 2.57 percentage points compared to the previous year[5] - Research and development expenses increased to CNY 52,729,714.52 in 2025, up 17.8% from CNY 44,765,623.00 in 2024[21] - Research and development expenses for the first three quarters of 2025 were ¥20.54 million, slightly lower than ¥22.62 million in the same period of 2024[30] Cash Flow and Liquidity - The company reported a net cash flow from operating activities of -¥62,380,775.40, a decrease of 263.62% year-to-date[4] - Cash inflow from operating activities for the first three quarters of 2025 was CNY 394.21 million, a decrease of 10.7% compared to CNY 441.65 million in the same period of 2024[24] - Net cash flow from operating activities was negative CNY 62.38 million in 2025, contrasting with a positive CNY 38.13 million in 2024[25] - Cash flow from operating activities for the first three quarters of 2025 showed a net outflow of ¥115.68 million, compared to a net outflow of ¥55.72 million in 2024[33] - The company reported a net increase in cash and cash equivalents of negative CNY 126.86 million for the first three quarters of 2025, compared to negative CNY 35.30 million in 2024[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,682,507,901.09, a 4.02% increase from the end of the previous year[5] - The company's total assets amounted to CNY 2,682,507,901.09, an increase from CNY 2,578,730,194.41 year-over-year[17] - Total liabilities increased to CNY 1,004,194,920.30, compared to CNY 878,149,421.82 in the previous year, reflecting a growth of 14.3%[17] - Total current assets increased to CNY 1.55 billion as of September 30, 2025, up from CNY 1.28 billion at the end of 2024, representing a growth of 21.1%[27] - The company's total equity increased slightly to CNY 1.70 billion as of September 30, 2025, compared to CNY 1.69 billion at the end of 2024, showing a marginal growth of 0.6%[29] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,725[10] - The company has a total of 1,723,682 shares held in the repurchase special securities account, accounting for 1.07% of total shares[13] - The company has not reported any significant changes in the top 10 shareholders or their participation in margin trading activities[14] Other Notable Information - The company has implemented a new equity incentive plan, resulting in increased share-based payment expenses compared to the previous year[9] - Government subsidies recognized during the period amounted to ¥4,647,448.01, contributing to the overall financial performance[7] - The company has not disclosed any new product developments or technological advancements during the reporting period[14] - There are no significant mergers or acquisitions reported in the latest financial disclosures[14] - The company has not applied new accounting standards starting from 2025[35]

Core Viewpoint - The company, Fujian Fuguang Co., Ltd., is set to hold a third-quarter performance briefing on November 4, 2025, to enhance communication with investors and provide insights into its operational results and financial status for the third quarter of 2025 [2][3]. Group 1: Meeting Details - The performance briefing will take place on November 4, 2025, from 16:00 to 17:00 at the Shanghai Stock Exchange Roadshow Center [2][4]. - The meeting will be conducted in an online text interaction format, allowing for real-time engagement with investors [3][4]. - Investors are encouraged to submit questions via email to the company's board office by November 3, 2025, to facilitate efficient communication during the briefing [5]. Group 2: Participants - Key participants in the briefing will include the Chairman and General Manager, Mr. He Wenbo, the Secretary of the Board, Mr. Huang Jian, the Chief Financial Officer, Mr. Xie Zhongheng, and the Independent Director, Ms. Guo Xiaohong [4]. Group 3: Investor Participation - Investors can log in to the Shanghai Stock Exchange Roadshow Center to participate in the performance briefing [5]. - The company will address commonly asked questions from investors during the briefing, within the limits of information disclosure regulations [5][6].

证券代码：688010 证券简称：福光股份 公告编号：2025-050 福建福光股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 本次业绩说明会将于 2025 年 11 月 04 日（星期二）16:00-17:00 在上海证券 交易所上证路演中心（网址：http://roadshow.sseinfo.com/）以网络文字互动的方 式召开。 三、参会人员 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。 重要内容提示： ●会议召开时间：2025 年 11 月 04 日 （星期二） 16:00-17:00 ● 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/） ●会议召开方式：上证路演中心网络文字互动 ●投资者可于 2025 年 11 月 03 日（星期一）17:00 前将有关问题通过电子邮 件的形式发送至公司董事会办公室邮箱 zhengquan01@forecam.com。公司将在业 绩说明会上对投资者普遍关注 ...

Report Summary 1. Industry Investment Rating - There is no information about the industry investment rating in the report. 2. Core View - The report regularly tracks the latest private exchangeable bond (private EB) projects from public channels, including new project information and the status of ongoing projects, while noting that issuance terms and progress may change and final prospectuses and underwriters should be consulted [1]. 3. Summary by Related Catalogs New Project Information Last Week - The 2025 private placement of exchangeable corporate bonds by Fujian State - owned Assets Management Co., Ltd. for professional investors received exchange feedback, with a proposed issuance size of 200 million yuan (the feedback size was reduced), the underlying stock being FUGuang Co., Ltd. (688010.SH), and the lead underwriter being Guoxin Securities. The exchange update date was October 24, 2025 [2]. - The 2025 private placement of exchangeable corporate bonds by O瑞金 Technology Co., Ltd. for professional investors received exchange feedback, with a proposed issuance size of 1.25 billion yuan, the underlying stock being Yongxin Co., Ltd. (002014.SZ), and the lead underwriter being CITIC Construction Investment Securities. The exchange update date was October 21, 2025 [2]. - The 2025 private placement of exchangeable corporate bonds by Hangzhou Iron & Steel Group Co., Ltd. for professional investors was accepted by the exchange, with a proposed issuance size of 1 billion yuan, the underlying stock being Hangzhou Iron & Steel Co., Ltd. (600126.SH), and the lead underwriter being Zheshang Securities. The exchange update date was October 23, 2025 [2]. - The 2025 private placement of science - and - technology innovation exchangeable corporate bonds by Sichuan Jiuzhou Investment Holding Group Co., Ltd. for professional investors was accepted by the exchange, with a proposed issuance size of 1 billion yuan, the underlying stock being Sichuan Jiuzhou (000801.SZ), and the lead underwriter being CITIC Securities. The exchange update date was October 20, 2025 [2]. Private EB Weekly Tracking (October 24, 2025) - A table shows the information of multiple private exchangeable bond projects, including bond names, lead underwriters, sizes, underlying stocks, project statuses, and update dates. Projects are in different statuses such as "Passed", "Feedback Received", and "Accepted" [4].

Core Insights - The optical and optoelectronic sector experienced a rise of 1.05% on October 24, with Chenfeng Technology leading the gains [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Stock Performance - Chenfeng Technology (603685) closed at 21.12, up 10.00% with a trading volume of 86,700 shares and a turnover of 175 million yuan [1] - Dongtian Micro (301183) closed at 101.10, up 8.42% with a trading volume of 113,300 shares [1] - Tianshan Electronics (301379) closed at 31.67, up 6.70% with a trading volume of 199,600 shares [1] - Other notable performers include Sudavige (300331) up 5.48% and Huichuangda (300909) up 5.46% [1] Capital Flow - The optical and optoelectronic sector saw a net outflow of 466 million yuan from institutional investors and 155 million yuan from retail investors, while retail investors had a net inflow of 621 million yuan [2] - The capital flow data indicates a mixed sentiment among different investor types within the sector [2] Individual Stock Capital Flow - Crystal Optoelectronics (002273) experienced a net outflow of 74.89 million yuan from institutional investors [3] - Wave Length Optoelectronics (301421) had a net inflow of 44.73 million yuan from institutional investors [3] - Sudavige (300331) saw a net inflow of 41.19 million yuan from institutional investors [3]

Core Viewpoint - Fuguang Co., Ltd. (688010.SH) announced the completion of a share reduction plan by a state-owned enterprise, which involved a total reduction of 1.6056 million shares, accounting for 1.00% of the company's current total share capital [1] Group 1 - The state-owned enterprise notified the company about the results of the share reduction on October 20, 2025 [1] - The share reduction was executed through centralized bidding transactions [1] - The share reduction plan period has now concluded [1]

关于持股 5%以上股东减持股份结果公告 证券代码：688010 证券简称：福光股份 公告编号：2025-049 福建福光股份有限公司 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、准确性和完整性依法承担法律 责任。 重要内容提示： 持股 5%以上股东持股的基本情况 本次减持计划实施前，福建福光股份有限公司（以下简称"公司"）持股 5% 以上股东福建省国有资产管理有限公司（以下简称"国资公司"）持有公司无限售 流通股 30,887,869 股，占公司总股本 19.24%，上述股份来源为国资公司通过协 议转让取得的股份。 减持计划的实施结果情况 2025 年 6 月 27 日，公司披露了《关于持股 5%以上股东减持股份计划公告》 （公告编号：2025-039）：公司持股 5%以上股东国资公司拟通过集中竞价交易、 大宗交易的方式，合计减持不超过其持有的公司股份 4,816,846 股，即不超过公 司总股本的 3.00%。 2025 年 7 月 23 日，公司披露了《关于持股 5%以上股东权益变动触及 1%刻 度的提示性公告》（公告编号：2025-04 ...

福建福光股份有限公司发布公告，持股5%以上股东福建省国有资产管理有限公司减持计划时间已届 满。本次减持前，国资公司持有公司无限售流通股30,887,869股，占总股本19.24%。6月27日公司披露 减持计划，国资公司拟减持不超4,816,846股，即不超总股本3.00%。截至10月20日，国资公司通过集中 竞价累计减持1,605,615股，占总股本1.00%，减持价格区间为31.20 - 34.83元/股，减持总金额 51,404,257.17元，未完成原计划，当前持股比例降至18.24%。 ...

福光股份公告，持股5%以上股东福建省国有资产管理有限公司原计划减持不超481.68万股即3.00%，最 终于2025年7月21日至2025年7月28日通过集中竞价累计减持160.56万股，占公司总股本1.00%，成交价 31.2～34.83元/股，成交额5140.43万元，计划期满未完成剩余321.12万股。 ...

Core Viewpoint - The company has successfully transformed its business model during the "14th Five-Year Plan" period, expanding from specialized and security lenses to infrared lenses, automotive lenses, AR/VR, machine vision, and projection optics. The next five years will focus on rapid growth in automotive and infrared lens sectors [1][3]. Group 1: Business Transformation and Growth - The company has transitioned from producing specialized and security lenses to a broader range of optical products, including infrared and automotive lenses, as well as machine vision technologies [1]. - The company has participated in significant national projects, providing optical lenses for missions such as the "Shenzhou series," "Chang'e lunar exploration," and "Tianwen-1," contributing to major national initiatives [1]. - The company raised nearly 1 billion yuan during its IPO on the Sci-Tech Innovation Board, primarily investing in cutting-edge optical component technologies [1]. Group 2: Product Development and Innovation - In the machine vision sector, the company has designed a continuous zoom microscope lens system achieving a resolution of 0.9 micrometers, suitable for precision defect detection in semiconductor circuits [1]. - The company has successfully developed a relay lens that fills a domestic gap, applicable in the semiconductor equipment field [1]. - The company is accelerating the integration of customized product technologies into non-customized sectors such as security and automotive applications, responding to global market demands [2]. Group 3: Market Opportunities - The automotive lens sector is expanding, with the company developing various products, including side-view glass-plastic hybrid lenses and different specifications for driver monitoring systems (DMS) [3]. - The infrared lens market is in its early growth stage, with decreasing chip prices and improving imaging quality driving rapid industry development, particularly in applications like drones, automotive, and smart home technologies [3]. - The company aims to leverage both customized and non-customized product lines to drive growth across multiple sectors, including automotive, drones, smart homes, and security [3].