Core Viewpoint - Anbotong, a leading company in the domestic cybersecurity core software sector, has faced challenges in revenue and net profit despite a strong market position and high gross margins [1][3]. Group 1: Company Overview - Anbotong was established on May 25, 2007, and listed on the Shanghai Stock Exchange on September 6, 2019, with its headquarters in Beijing [1]. - The company focuses on the research, development, sales, and related technical services of cybersecurity core software products, positioning itself as a provider of cybersecurity system platforms and services [1]. Group 2: Financial Performance - In Q3 2025, Anbotong achieved a revenue of 500 million yuan, ranking 22nd out of 35 in the industry, significantly lower than the top competitor, iFlytek, which reported 16.989 billion yuan [2]. - The net profit for the same period was -145 million yuan, placing the company 26th in the industry, with losses exceeding the industry average of -98.147 million yuan [2]. Group 3: Profitability and Debt - Anbotong's debt-to-asset ratio stood at 29.42% in Q3 2025, an increase from 23.89% year-on-year, aligning with the industry average [3]. - The gross margin for Q3 2025 was 83.24%, a significant increase from 60.70% year-on-year, surpassing the industry average of 63.59% [3]. Group 4: Executive Compensation - The chairman and CEO, Zhong Zhu, received a salary of 3.9175 million yuan in 2024, an increase of 1.8615 million yuan from 2023 [4]. Group 5: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 25.39% to 6,479, while the average number of circulating A-shares held per account decreased by 20.25% to 11,900 [5]. - The company reported significant revenue growth in the first half of 2025, primarily driven by a surge in its AI security business, although profit margins were pressured by increased sales expenses [5].

Core Points - The Shanghai Composite Index closed at 3961.62 points, above the six-month moving average, with a decline of 0.63% [1] - The total trading volume of A-shares reached 157.92 billion yuan [1] - A total of 259 A-shares have surpassed the six-month moving average, with notable stocks showing significant deviation rates [1] Summary by Category Market Performance - The Shanghai Composite Index is currently at 3961.62 points, indicating a slight decline of 0.63% [1] - The total trading volume for A-shares today is reported at 157.91 billion yuan [1] Stocks Surpassing Six-Month Moving Average - 259 A-shares have broken through the six-month moving average, with the highest deviation rates observed in stocks such as: - Yatong Precision Engineering (8.20%) - Excellent New Energy (7.57%) - Deyuan Pharmaceutical (7.38%) [1] - Other stocks with smaller deviation rates include: - New Hope - Shanghai Phoenix - Angli Education, which have just crossed the six-month line [1] Notable Stocks and Their Metrics - Top stocks with significant price changes and their metrics include: - Yatong Precision Engineering: +9.76%, turnover rate 31.45%, six-month line 23.27 yuan, latest price 25.18 yuan, deviation rate 8.20% [1] - Excellent New Energy: +9.90%, turnover rate 2.44%, six-month line 45.62 yuan, latest price 49.07 yuan, deviation rate 7.57% [1] - Deyuan Pharmaceutical: +11.83%, turnover rate 8.02%, six-month line 38.03 yuan, latest price 40.84 yuan, deviation rate 7.38% [1]

Core Viewpoint - The company, Beijing Anbotong Technology Co., Ltd., has released its third-quarter report for 2025, ensuring the accuracy and completeness of the information provided in the report [2][8]. Financial Data - The financial statements for the third quarter of 2025 have not been audited [3][7]. - The report includes major accounting data and financial indicators, but specific figures are not detailed in the provided text [3][4]. Corporate Governance - The board of directors and the supervisory board have confirmed the authenticity and completeness of the quarterly report, taking legal responsibility for its content [2][8]. - The third supervisory board meeting was held on October 27, 2025, with all three supervisors present, complying with relevant regulations [9][10]. Meeting Resolutions - The supervisory board approved the proposal regarding the company's third-quarter report for 2025, with a unanimous vote of 3 in favor and no opposition [10][11].

Core Viewpoint - Anbotong (688168.SH) reported a significant decline in revenue and net profit for Q3 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company's operating revenue for Q3 2025 was 71.62 million yuan, representing a year-on-year decrease of 32.49% [1] - The net profit attributable to shareholders of the listed company was -21.33 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -21.59 million yuan [1]

Group 1 - The core viewpoint of the news is that Ambotong (SH 688168) reported a significant increase in revenue for the third quarter of 2023, but also posted a net loss for the same period [1] - Ambotong's revenue for the first three quarters of 2023 reached approximately 500 million yuan, representing a year-on-year increase of 68.17% [1] - The net profit attributable to shareholders of the listed company was a loss of approximately 130 million yuan [1] Group 2 - As of the report, Ambotong's market capitalization stands at 6.1 billion yuan [2]

1、审议通过《关于公司 2025 年第三季度报告的议案》 本议案内容详见公司刊登于上海证券交易所网站（www.sse.com.cn）的《北 京安博通科技股份有限公司 2025 年第三季度报告》。 第三届监事会第十三次会议决议公告 本公司监事会及全体监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。 一、监事会会议召开情况 北京安博通科技股份有限公司（以下简称"公司"）第三届监事会第十三次 会议于 2025 年 10 月 27 日 14:30 在公司会议室以现场方式召开。本次会议由监 事会主席吴笛女士主持，会议应到监事 3 名，实际出席监事 3 名。会议的召集、 召开符合《中华人民共和国公司法》《北京安博通科技股份有限公司章程》等相 关规定。 二、监事会会议审议情况 经全体监事表决，形成决议如下： 证券代码：688168 证券简称：安博通 公告编号：2025-036 北京安博通科技股份有限公司 表决结果：3 票同意；0 票反对；0 票弃权。 特此公告。 北京安博通科技股份有限公司监事会 2025 年 10 月 28 日 ...

Revenue and Profit - The company's operating revenue for the third quarter was ¥71,620,476.71, a decrease of 32.49% compared to the same period last year[4] - Year-to-date revenue reached ¥500,158,411.86, reflecting an increase of 68.17% year-on-year[4] - The total profit for the third quarter was -¥2,617,047.76, with a year-to-date total profit of -¥145,779,217.21[4] - The net profit attributable to shareholders for the third quarter was -¥21,325,820.19, and year-to-date it was -¥130,167,329.21[4] - Total operating revenue for the first three quarters of 2025 reached CNY 500,158,411.86, a significant increase from CNY 297,412,515.59 in the same period of 2024, representing a growth of approximately 68.1%[21] - The net loss for the first three quarters of 2025 was CNY 144,822,199.67, worsening from a net loss of CNY 87,426,050.25 in the same period of 2024[21] - The company reported a total comprehensive loss of CNY -145,029,255.67 for the first three quarters of 2025, compared to a loss of CNY -87,852,851.37 in 2024[22] Research and Development - Research and development expenses totaled ¥27,715,760.14 for the quarter, representing a decrease of 16.90% year-on-year[5] - R&D expenses accounted for 38.70% of operating revenue in the current quarter, an increase of 7.26 percentage points compared to the previous year[5] Assets and Liabilities - Total assets at the end of the quarter were ¥1,413,381,246.71, down 20.76% from the end of the previous year[5] - Total current assets as of September 30, 2025, amount to ¥771,646,002, a decrease from ¥1,124,789,508.85 at the end of 2024[16] - Total non-current assets amount to ¥641,735,244.71, down from ¥658,897,414.69[17] - Total assets decreased to ¥1,413,381,246.71 from ¥1,783,686,923.54[17] - The total liabilities decreased from CNY 646,908,015.53 in the previous year to CNY 415,783,326.14 in the current year, reflecting a reduction of approximately 35.7%[18] - The total equity attributable to shareholders decreased from CNY 1,121,725,032.80 in 2024 to CNY 994,048,915.82 in 2025, a decline of about 11.4%[18] Cash Flow - The net cash flow from operating activities for the first three quarters of 2025 was negative CNY 211,093,458.72, slightly improved from negative CNY 220,723,423.90 in 2024[24] - The company reported a significant increase in cash inflow from operating activities, totaling CNY 4,352,866,528.96 in 2025 compared to CNY 368,388,994.36 in 2024[24] - Net cash flow from investing activities was -$30.28 million, compared to -$19.50 million in the previous period[25] - Total cash inflow from financing activities was $183.79 million, up from $143.36 million year-over-year[25] - The net cash flow from financing activities was -$31.62 million, contrasting with a positive $42.31 million last year[25] - The ending cash and cash equivalents balance was $166.70 million, down from $119.60 million in the previous year[25] - The company experienced a negative impact of -$677,238.87 from foreign exchange fluctuations on cash and cash equivalents[25] Shareholder Information - Total number of common shareholders at the end of the reporting period is 6,479[13] - The largest shareholder, Zhong Zhu, holds 23.69% of shares, totaling 18,204,578 shares, with 756,000 shares frozen[14] Other Financial Metrics - The weighted average return on equity was -1.96%, a decrease of 0.28 percentage points year-on-year[5] - Basic and diluted earnings per share for the first three quarters of 2025 were both CNY -1.69, compared to CNY -1.07 in the same period of 2024[22] - The company incurred a credit impairment loss of CNY -8,101,228.53 in 2025, compared to a loss of CNY -33,947,434.74 in 2024, indicating a reduction in credit losses[21] Government Subsidies - The company received government subsidies amounting to ¥4,644,609.32, primarily related to VAT refunds on software[9] Project Acceptance - The decline in operating revenue was attributed to incomplete project acceptance during the reporting period[11] Cash and Cash Equivalents - Cash and cash equivalents decreased to ¥206,735,056.42 from ¥467,517,111.00[16] - Accounts receivable decreased to ¥412,805,200.61 from ¥543,611,685.46[16] - Short-term borrowings decreased to ¥185,795,597.00 from ¥195,127,170.55[17] - Accounts payable decreased to ¥84,142,575.70 from ¥171,011,278.72[17] - Other payables decreased significantly to ¥2,745,583.07 from ¥110,331,059.81[17] Accounting Standards - The company will not apply new accounting standards starting from 2025[26]

Group 1 - The core point of the news is that Anbotong conducted three block trades on October 23, with a total trading volume of 500,000 shares and a total transaction amount of 37.845 million yuan, at a price of 75.69 yuan, which represents a discount of 1.50% compared to the closing price of the day [2][3] - Institutional special seats participated in all three transactions, with a total transaction amount of 37.845 million yuan and a net purchase of 37.845 million yuan [2] - Over the past three months, Anbotong has recorded four block trades with a cumulative transaction amount of 47.633 million yuan [2] Group 2 - The latest margin financing balance for Anbotong is 638 million yuan, with an increase of 9.0701 million yuan over the past five days, representing a growth rate of 1.44% [3] - Anbotong's closing price on October 23 was 76.84 yuan, down 1.08%, with a daily turnover rate of 1.17% and a total transaction amount of 69.1622 million yuan, indicating a net outflow of 1.0069 million yuan in main funds for the day [2] - Over the past five days, Anbotong's stock has declined by 5.68%, with a total net outflow of funds amounting to 9.7438 million yuan [2]

Group 1 - On October 23, Ambo Tong executed a block trade of 500,000 shares, with a transaction amount of 37.845 million yuan, accounting for 35.37% of the total transaction volume for the day [1] - The transaction price was 75.69 yuan, which represents a discount of 1.5% compared to the market closing price of 76.84 yuan [1] - The block trade involved multiple institutional buyers, indicating strong institutional interest in the stock [2][2][2] Group 2 - The total transaction amount for the block trade was 14.3811 million yuan for 19 shares, with the same price of 75.69 yuan [2] - Additional transactions on the same day included amounts of 9.0828 million yuan for 12 shares, all executed at the same price [2] - The trades were conducted by institutional trading departments, highlighting the involvement of professional investors [2][2][2]

Core Viewpoint - Anbotong's stock price has experienced significant fluctuations in 2023, with a year-to-date increase of 94.42%, but a recent decline in the last five and twenty trading days [1][2]. Company Overview - Anbotong Technology Co., Ltd. is based in Haidian District, Beijing, established on May 25, 2007, and listed on September 6, 2019. The company specializes in the research, development, sales of core software products for cybersecurity, and related technical services [1]. - The main revenue composition includes: Security Gateway (39.47%), Security AI (35.21%), Security Management (18.05%), Security Services (7.15%), and Others (0.12%) [1]. Financial Performance - For the first half of 2025, Anbotong achieved operating revenue of 429 million yuan, representing a year-on-year growth of 123.98%. However, the net profit attributable to shareholders was -109 million yuan, a decrease of 77.53% year-on-year [2]. - Since its A-share listing, Anbotong has distributed a total of 52.47 million yuan in dividends, with 3.83 million yuan distributed over the last three years [3]. Stock Market Activity - As of October 23, Anbotong's stock price was 76.02 yuan per share, with a market capitalization of 5.843 billion yuan. The stock has seen a trading volume of 19.31 million yuan and a turnover rate of 0.33% [1]. - The stock has been on the "龙虎榜" (a list of stocks with significant trading activity) twice this year, with the most recent appearance on February 13 [1].