证券日报网讯11月3日晚间，晶品特装发布公告称，2025年10月，公司未回购股份。 ...

证券代码：688084 证券简称：晶品特装 公告编号：2025-032 北京晶品特装科技股份有限公司 重要内容提示： | 回购方案首次披露日 | 年 月 2025 6 | | 18 | | | | | 日，由实际控制人、董事长陈波先 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 生提议 | | | | | | | | | 回购方案实施期限 | 年 2025 6 6 | 月 | 17 | 日~2026 | 年 | 月 | 日 | 16 | | 预计回购金额 | 800万元~1,200万元 | | | | | | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 □用于转换公司可转债 | | | | | | | | | 累计已回购股数 | □为维护公司价值及股东权益 3.60万股 | | | | | | | | | 累计已回购股数占总股本比例 | 0.05% | | | | | | | | | 累计已回购金额 | 279.97万元 | | | | | | | | | 实际回购价格区间 | 71.89元/股~83.0 ...

Group 1 - The 2025 High-Quality Development Forum for Listed Companies and the 27th Golden Bull Award Ceremony took place in Nantong, Jiangsu, with the theme "Moving Towards the New, Achieving with Reality, and Intelligent Future" [1] - Liu Peng, the Director, Deputy General Manager, and Secretary of the Board of Jingpin Special Equipment, won the "Golden Bull Secretary Award" at this event [1] - The Golden Bull Award, established in 1999 by China Securities Journal, aims to create a credible platform for communication and brand display in the capital market, recognizing outstanding contributions in corporate governance, information disclosure, and investor relations management [1] Group 2 - Jingpin Special Equipment, founded in 2009, is a national high-tech enterprise specializing in the research, production, and sales of optoelectronic reconnaissance equipment and military robot systems [2] - The company's main products include various models of drone optoelectronic pods, handheld optoelectronic reconnaissance devices, individual night vision goggles, handheld wall-penetrating radars, bomb disposal robots, multipurpose robots, and portable reconnaissance robots [2] - As a national high-tech enterprise in the military industry, Jingpin has focused on the fields of military informationization, intelligence, and automation, successfully developing multiple products that have been deployed in frontline troops [2]

Investment Rating - The report maintains a "Buy-A" investment rating for the company with a 12-month target price of 121.5 CNY [4][7]. Core Views - The company has shown significant improvement in its financial performance, achieving a revenue of 2.12 billion CNY in the first three quarters of 2025, representing a year-on-year increase of 211%. The net profit attributable to shareholders reached 10.88 million CNY, a turnaround from a loss of 27.6 million CNY in the same period last year [1]. - The company has successfully turned a profit in Q3 2025, with a revenue of 1.36 billion CNY, marking a year-on-year growth of 321.5% and a quarter-on-quarter increase of 169.6%. The net profit for this quarter was 18.43 million CNY, compared to a loss of 7.83 million CNY in the previous year [2]. - The company is actively preparing for production and inventory to meet the recovering demand in the market, with construction in progress valued at 32 million CNY and inventory increasing by 23.4% to 189 million CNY [3]. Financial Summary - The company is projected to achieve net profits of 23 million CNY, 70 million CNY, and 113 million CNY for the years 2025, 2026, and 2027, respectively, with growth rates of turning profitable, 209%, and 61.6% [4]. - The financial forecasts indicate a significant recovery in revenue, with expected figures of 307 million CNY in 2025, 572 million CNY in 2026, and 801 million CNY in 2027, reflecting growth rates of 87.5%, 86.3%, and 40.0% respectively [9]. - The company's gross margin has shown a consistent improvement, with Q3 2025 gross margin at 29.0%, up from a low of 5.2% in Q4 2024 [2].

Group 1 - The core viewpoint of the news is that Jingpin Special Equipment (688084.SH) has reported its Q3 2025 results, highlighting significant institutional investor interest with 19 institutions holding a total of 47.56 million shares, representing 62.86% of the total share capital [1] - The top ten institutional investors collectively hold 60.96% of the shares, with a slight decrease of 0.64 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, six funds increased their holdings, including Guangfa Small and Medium Cap Selected Mixed A and Huaxia CSI Robot ETF, with an increase rate of 2.68% [2] - Two public funds reduced their holdings, with a slight decline in the overall holding percentage [2] - Six new public funds were disclosed this period, while 125 funds were not disclosed compared to the previous quarter [2]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：688084 证券简称：晶品特装 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： 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 单位：元 币种：人民币 注："本报告期"指本季度初至本季度末3个月期间，下同。 （二） 非经常性损益项目和金额 √适用 □不适用 单位:元 币种:人民币 （一） 普通股股东总数和表决权恢复的优先股股东数量及前十名股东持股情况表 单位：股 注：公司回购专用证券账户持股情况未在"前10名股东持股情况"和"前10名无限售条件股东持股情况"中 列示。截至本报告期末，公司回购专用证券账户持有公司股份1,559,671股，占公司报告期末总股本的比 例 ...

Core Insights - The company Jingpin Special Equipment (688084.SH) reported a significant increase in revenue and a turnaround in net profit for the third quarter of 2025 compared to the same period last year [1] Financial Performance - The total operating revenue for the first three quarters of 2025 reached 212 million yuan, representing a year-on-year growth of 211.05% [1] - The net profit attributable to shareholders of the parent company was 10.88 million yuan, a recovery from a loss of 27.60 million yuan in the same period last year [1] - The basic earnings per share stood at 0.14 yuan [1]

Core Insights - The company reported a significant increase in revenue for Q3 2025, achieving 135,483,074.38 yuan, which represents a year-on-year growth of 321.47% [1] - The net profit attributable to shareholders for the same period was 18,431,495.46 yuan [1] Financial Performance - Revenue for Q3 2025: 135.48 million yuan, up 321.47% year-on-year [1] - Net profit for Q3 2025: 18.43 million yuan [1]

Financial Performance - The company's operating revenue for the third quarter reached ¥135,483,074.38, representing a year-on-year increase of 321.47%[3] - The total profit for the third quarter was ¥17,664,499.47, with a significant increase attributed to higher operating revenue compared to the same period last year[8] - The net profit attributable to shareholders for the third quarter was ¥18,431,495.46, reflecting a substantial increase due to increased product deliveries[8] - The basic earnings per share for the third quarter was ¥0.24, up from ¥0.14 in the same period last year[3] - The net profit excluding non-recurring gains and losses for the third quarter was ¥16,412,165.13, a significant improvement compared to the previous year[3] - Total operating revenue for the first three quarters of 2025 reached ¥212.14 million, a significant increase from ¥68.20 million in the same period of 2024, representing a growth of 211.5%[18] - The net profit for the first three quarters of 2025 was ¥5.34 million, a turnaround from a net loss of ¥30.50 million in the same period of 2024[19] - The company reported a gross profit of ¥58.52 million for the first three quarters of 2025, compared to a gross loss of ¥-30.39 million in 2024[18] - The company achieved a basic earnings per share of ¥0.14 for the first three quarters of 2025, compared to a loss per share of ¥-0.37 in the same period of 2024[19] Research and Development - Research and development expenses totaled ¥9,962,572.81, accounting for 7.35% of operating revenue, a decrease from 28.94% year-on-year[4] - Research and development expenses for the first three quarters of 2025 were ¥34.91 million, slightly down from ¥36.10 million in 2024, reflecting a decrease of 3.3%[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,846,143,695.41, an increase of 4.62% compared to the previous year[4] - The total assets of the company as of the reporting date amounted to ¥1,846.14 million, an increase from ¥1,764.68 million in the previous year, showing a growth of 4.6%[17] - The total liabilities increased to ¥291.46 million in 2025 from ¥213.76 million in 2024, marking a rise of 36.3%[17] - The equity attributable to shareholders of the parent company was ¥1,568.15 million, slightly up from ¥1,562.54 million in the previous year, indicating a growth of 0.4%[17] Cash Flow - The net cash flow from operating activities was not applicable for the current period, but it was reported as -¥10,190,528.59 for the year-to-date[3] - In the first three quarters of 2025, the cash inflow from operating activities was CNY 229,786,586.62, a significant increase from CNY 126,428,384.54 in the same period of 2024, representing an increase of approximately 81.7%[21] - The net cash flow from operating activities was negative CNY 10,190,528.59, an improvement compared to negative CNY 64,194,546.24 in the first three quarters of 2024[21] - The cash inflow from investment activities totaled CNY 2,397,563,532.89, up from CNY 2,036,420,318.08 in the previous year, marking an increase of about 17.7%[22] - The net cash flow from investment activities was positive CNY 155,461,159.49, a turnaround from negative CNY 242,885,784.67 in the same period of 2024[22] - The cash inflow from financing activities was CNY 25,743,757.08, compared to CNY 20,809,297.27 in the previous year, reflecting an increase of approximately 23.3%[22] - The net cash flow from financing activities was positive CNY 2,176,348.27, improving from negative CNY 114,528,103.06 in the first three quarters of 2024[22] - The total cash and cash equivalents at the end of the period increased to CNY 824,865,828.63 from CNY 805,062,438.96 at the end of the same period last year[22] Shareholder Information - Total number of common shareholders at the end of the reporting period is 5,677[11] - The largest shareholder, Tianjin Junrong Huizhi Technology Center (Limited Partnership), holds 25.08% of shares, totaling 18,973,030 shares[11] - The company has three major shareholders, all controlled by the same individual, Chen Bo[12] - The total number of shares held by the company's repurchase account is 1,559,671, representing 2.0614% of the total share capital[12] Other Information - The company expects continued growth in product deliveries and revenue in the upcoming quarters, driven by market expansion strategies[8] - The company announced a delay in the completion of the smart equipment Beijing industrial base project from September 2025 to October 2026[14] - The company's cash and cash equivalents as of September 30, 2025, amount to ¥827,331,479.03, an increase from ¥680,612,648.23 at the end of 2024[15] - Accounts receivable increased to ¥242,023,759.75 from ¥144,518,505.79 in the previous year, indicating a growth of approximately 67.5%[15] - Inventory as of September 30, 2025, is valued at ¥189,215,204.34, up from ¥153,323,606.28, reflecting a growth of about 23.4%[15] - The trading financial assets decreased to ¥175,000,000.00 from ¥385,264,234.03, a decline of approximately 54.5%[15] - The company received CNY 199,253,958.96 in cash from sales of goods and services, a substantial increase from CNY 60,009,214.30 in the first three quarters of 2024, indicating a growth of approximately 232.5%[21] - The company reported cash received from tax refunds of CNY 9,971,991.35, significantly higher than CNY 112,359.57 in the same period of 2024[21] - The company has not adopted new accounting standards or interpretations that would affect the financial statements for the year of first execution[23]

Investment Rating - The report maintains a "Positive" outlook for the defense and military industry [6] Core Insights - The 20th Central Committee's Fourth Plenary Session emphasizes the importance of military equipment construction, indicating that the military equipment development is expected to accelerate with the implementation of the 14th Five-Year Plan [9][12] - The successful testing of the Zhuque-3 rocket marks a significant advancement in reusable rocket technology, which is anticipated to lower launch costs and accelerate satellite networking [14][17] - The military sector's stock prices have stabilized recently, with a focus on both domestic and international demand, highlighting the investment value in the military industry [18] Summary by Sections Investment Suggestions and Targets - The report suggests focusing on military electronics, new domains, and the aerospace propulsion chain, with specific stock recommendations including: - Military Electronics: Aerospace Electric (002025, Buy), Zhonghang Optical (002179, Buy), and others [18] - New Domains: Haige Communication (002465, Buy) and others [18] - Aerospace Propulsion Chain: Xibei Superconductor (688122, Buy) and others [18] - Military Trade/Main Equipment: Zhonghang Shenfei (600760, Unrated) and others [18] Industry Performance - The defense and military industry index increased by 2.81%, underperforming compared to the Shanghai Composite Index [21][22] - The report notes that the military industry has shown resilience, with a focus on key components and materials as demand rises [18][21] Recent Developments - The report highlights significant recent events in the military sector, including successful military exercises and advancements in military technology [30][31]