Group 1 - The core point of the article is that Hongquan IoT (688288.SH) reported significant growth in its third-quarter results for 2025, with total operating revenue reaching 495 million yuan, a year-on-year increase of 35.85% [1] - The company achieved a net profit attributable to shareholders of 41.06 million yuan, compared to a loss of 29.95 million yuan in the same period last year [1] - Basic earnings per share for the company stood at 0.41 yuan [1]

Core Viewpoint - The company has approved a change in its stock abbreviation from "鸿泉物联" to "鸿泉技术" while maintaining its full name and stock code [1] Summary by Categories Company Actions - The third board meeting of the company was held on October 28, 2025, where the proposal to change the stock abbreviation was approved with a unanimous vote of 7 in favor, 0 against, and 0 abstentions [1]

Group 1 - The core viewpoint of the news is that Hongquan Wulian has reported significant growth in its third-quarter performance for 2025, with a revenue increase of 35.85% year-on-year [1] - The company achieved approximately 495 million yuan in revenue for the first three quarters of 2025 [1] - The net profit attributable to shareholders of the listed company is around 41.06 million yuan, with a basic earnings per share of 0.41 yuan [1] Group 2 - As of the report, Hongquan Wulian has a market capitalization of 2.9 billion yuan [2]

证券代码：688288 证券简称：鸿泉物联 公告编号：2025-041 杭州鸿泉物联网技术股份有限公司 天健所作为公司 2025 年度财务报告和内部控制审计机构，原委派林旺和魏晓慧 作为公司 2025 年度财务报表审计报告和内部控制审计报告的签字注册会计师。由于 魏晓慧已离职，现委派丁俊广接替魏晓慧作为签字注册会计师。变更后，公司 2025 年度审计业务签字注册会计师为林旺和丁俊广。 二、本次变更人员的基本信息 签字注册会计师：丁俊广，于 2020 年成为中国注册会计师，自 2020 年开始在 天健所执业。 丁俊广不存在违反《中国注册会计师职业道德守则》有关独立性要求的情形， 最近三年未曾因执业行为受到过刑事处罚、行政处罚、监督管理措施和纪律处分。 三、对公司的影响 本次变更过程中相关工作安排已有序交接，变更事项不会对公司 2025 年度财务 报告审计和内部控制审计工作产生不利影响。 关于变更签字注册会计师的公告 本公司董事会及全体董事保证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。 杭州鸿泉物联网技术股份有限公司（以下简称鸿泉物联或公司）于 20 ...

证券代码：688288 证券简称：鸿泉物联 公告编号：2025-040 收入占比持续提升；软件平台开发业务也新增了两轮车等客户，体量规模也有所 扩大。因此，公司近几年的业务发生了较为明显的进步和变化，从上市时网联业 务占绝对主导地位，到目前四类业务发展逐步均衡化。 本次证券简称变更事项以上海证券交易所最终核准为准，公司将根据进 展情况及时履行信息披露义务，敬请投资者注意投资风险 一、公司董事会审议变更证券简称的情况 杭州鸿泉物联网技术股份有限公司（以下简称公司）于2025年10月28日召开 第三届董事会第十一次会议，会议以7票同意，0票反对，0票弃权的表决结果审 议通过了《关于变更公司证券简称的议案》，同意公司证券简称由"鸿泉物联" 变更为"鸿泉技术"，公司全称和证券代码保持不变。 二、拟变更证券简称的原因 自上市以来，公司的产品类型和业务范围持续拓展，技术能力不断深化，已 从当初以车联网终端为主，转变为智能网联、智能座舱、控制器和软件平台开发 四大类产品和业务协同发展的主营业务模式，公司的客户也从以商用车占绝对主 导，转变为商用车、乘用车和两轮车同步拓展的发展模式；因此公司的产品和业 务发生了较大的变化。 ...

证券代码：688288 证券简称：鸿泉物联 公告编号：2025-042 杭州鸿泉物联网技术股份有限公司 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。 三、参会人员 公司董事长兼总经理何军强先生，独立董事冯远静先生，财务总监刘江镇先 生，董事会秘书章旭健先生（如有特殊情况，参会人员可能进行调整）。 四、投资者参加方式 （一）欢迎投资者于2025年11月21日（星期三）上午9:00-10:00登录上海证 券交易所上证路演中心（http://roadshow.sseinfo.com）在线参与本次说明会， 公司将及时回答投资者的提问。 一、说明会类型 （二）投资者可于2025年11月14日（星期五）至11月20日（星期四）16:00 前 登 录 上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 （http://roadshow.sseinfo.com/questionCollection.do），根据活动时间，选中本次活 动 提 问 或 将 有 关 问 ...

Financial Performance - The company's operating revenue for Q3 2025 reached ¥160,784,908.30, representing a year-on-year increase of 33.12%[3] - Year-to-date revenue until the report period amounted to ¥494,936,539.41, reflecting a growth of 35.85% compared to the same period last year[3] - The total profit for the year-to-date period was ¥41,199,182.80, with net profit attributable to shareholders at ¥41,058,217.89[3] - Total operating revenue for the first three quarters of 2025 reached ¥494,936,539.41, a significant increase of 36% compared to ¥364,322,095.76 in the same period of 2024[19] - Operating profit for the first three quarters of 2025 was ¥40,737,685.06, recovering from a loss of ¥31,239,328.84 in the first three quarters of 2024[20] - Net profit attributable to shareholders of the parent company for the first three quarters of 2025 was ¥41,058,217.89, compared to a loss of ¥29,952,919.19 in the same period of 2024[21] - The net profit growth was attributed to increased operating revenue and a reduction in expenses[7] Assets and Liabilities - Total assets increased by 9.80% year-on-year, reaching ¥1,169,964,999.65[4] - Total assets as of September 30, 2025, are RMB 1,169,964,999.65, up from RMB 1,065,561,195.71[15] - Total liabilities increased to ¥395,128,038.26 in 2025 from ¥338,922,528.14 in 2024, reflecting a growth of approximately 16.5%[16] - Total current assets as of September 30, 2025, amount to RMB 784,517,666.90, an increase from RMB 693,479,645.12 at the end of 2024[14] - Short-term borrowings decreased to RMB 160,983,007.56 from RMB 169,211,830.29[15] - Total liabilities include accounts payable of RMB 96,638,904.51, up from RMB 89,490,281.25[15] Shareholder Information - Total number of common shareholders at the end of the reporting period is 5,530[10] - The largest shareholder, He Junqiang, holds 35,429,100 shares, representing 35.50% of total shares[12] - Shareholders' equity attributable to the company rose to ¥774,268,718.05, marking a 6.62% increase from the previous year[4] - Total equity attributable to shareholders of the parent company rose to ¥774,268,718.05 in 2025, up from ¥726,211,389.14 in 2024, marking an increase of about 6.6%[16] Research and Development - Research and development (R&D) expenses totaled ¥34,227,351.48 for the quarter, accounting for 21.29% of operating revenue, a decrease of 0.08 percentage points from the previous year[4] - Research and development expenses for the first three quarters of 2025 were ¥96,759,053.28, a decrease of 11.3% from ¥109,141,549.70 in the same period of 2024[19] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥28,054,764.37[3] - The company reported a net cash flow from operating activities of ¥28,054,764.37 in the first three quarters of 2025, a recovery from a negative cash flow of ¥45,419,465.93 in the same period of 2024[21] - The net cash flow from investing activities was -$75.83 million, a decrease compared to $43.26 million in the previous period[22] - Cash inflow from investment activities totaled $799.19 million, significantly higher than $89.44 million last year[22] - Cash outflow from investment activities reached $875.03 million, compared to $46.17 million in the previous period[22] - The net cash flow from financing activities was -$12.78 million, down from $44.56 million last year[22] - Total cash and cash equivalents at the end of the period were $49.50 million, a decrease from $123.15 million at the end of the previous period[22] - Cash inflow from financing activities amounted to $191.80 million, slightly lower than $208.60 million last year[22] - Cash outflow for debt repayment was $200 million, an increase from $138 million in the previous period[22] - The impact of exchange rate changes on cash and cash equivalents was -$404.83[22] Other Information - The company has no significant changes in the top ten shareholders or their participation in margin trading[12] - The company will not apply new accounting standards starting from 2025[23] - The company reported a significant increase in commercial vehicle business, contributing to the overall revenue growth[7] - Cash and cash equivalents decreased to RMB 49,587,592.30 from RMB 110,150,516.94[14] - Accounts receivable increased to RMB 310,000,707.19 from RMB 279,824,902.24[14] - Inventory increased to RMB 109,304,155.65 from RMB 73,566,404.16[14] - Sales expenses increased to ¥21,137,450.68 in 2025 from ¥19,265,632.74 in 2024, reflecting a growth of about 9.7%[19] - The company’s financial expenses decreased to ¥1,094,356.52 in 2025 from ¥1,931,561.54 in 2024, showing a reduction of approximately 43.4%[19]

Core Insights - The third China Listed Companies Industry Development Forum was held on September 21, 2025, focusing on "Future Industries and State Capital Empowering Listed Companies" [3] - The event highlighted a new model of collaboration between state capital and cutting-edge technology to empower listed companies [3] - The authoritative list of "Future Industry Stars" was unveiled, showcasing companies with high technological barriers and industry leadership across six key sectors [3] Future Information Industry Stars - The list includes notable companies such as: - PCCW Limited (00008.HK) - Ciwang Media (002343.SZ) - Siwei Map (002405.SZ) - Haige Communication (002465.SZ) - Kainet Network (002517.SZ) [5][6] Future Manufacturing Industry Stars - Key companies recognized in this category include: - Wan Feng Ao Wei (002085.SZ) - AVIC Optoelectronics (002179.SZ) - Zhongchao Holdings (002471.SZ) - Hailian Jinhui (002537.SZ) - Zanyu Technology (002637.SZ) [9][10] Future Energy Industry Stars - The recognized companies in this sector are: - Zhun Oil Co., Ltd. (002207.SZ) - Zhaoxin Co., Ltd. (002256.SZ) - Jiangsu Guoxin (002608.SZ) - Mingyang Electric (301291.SZ) - Hainan Mining (601969.SH) [12][13] Future Materials Industry Stars - Notable companies include: - Chengda Zhi (000602.SZ) - Guofeng New Materials (000859.SZ) - Ok Technology (001223.SZ) - Donghua Technology (002140.SZ) - Yutong Technology (002831.SZ) [14][15] Future Space Industry Stars - Key players recognized in this category are: - Hengtian Hailong (000677.SZ) - Aerospace Rainbow (002389.SZ) - Tianhai Defense (300008.SZ) - Ningbo Port (601018.SH) [16] Future Health Industry Stars - The list features companies such as: - Enhua Pharmaceutical (002262.SZ) - Aier Eye Hospital (300015.SZ) - Huada Gene (300676.SZ) - Shunyu Co., Ltd. (301519.SZ) [17][18]

Core Insights - The optical and optoelectronic sector experienced a decline of 2.68% on October 10, with Wanrun Technology leading the drop [1] - The Shanghai Composite Index closed at 3897.03, down 0.94%, while the Shenzhen Component Index closed at 13355.42, down 2.7% [1] Stock Performance - Wanrun Technology (002654) saw a significant decline of 9.11%, closing at 14.56, with a trading volume of 1.22 million shares and a transaction value of 1.8 billion [2] - Other notable decliners included Tengjing Technology (688195) down 8.42% and Changyang Technology (6628889) down 7.45% [2] - Conversely, Deep Textile A (000045) increased by 7.14%, closing at 13.50, with a trading volume of 410,600 shares and a transaction value of 54 million [1] Capital Flow - The optical and optoelectronic sector experienced a net outflow of 1.911 billion from institutional investors, while retail investors saw a net inflow of 538 million [2] - Notable stocks with significant capital inflows included BOE Technology Group (000725) with a net inflow of 127 million from institutional investors [3] - In contrast, Huacan Optoelectronics (300323) faced a net outflow of 77.5 million from retail investors [3]

Core Viewpoint - Hongquan IoT has shown significant stock price movement, with a year-to-date increase of 90.75%, despite recent declines in the last five and twenty trading days [2]. Group 1: Stock Performance - As of September 24, Hongquan IoT's stock price rose by 2.06% to 30.71 CNY per share, with a trading volume of 23.68 million CNY and a turnover rate of 0.78% [1]. - The company has experienced a net inflow of main funds amounting to 1.64 million CNY, with large orders accounting for 12.27% of purchases and 5.33% of sales [1]. - The stock has seen a decline of 5.10% over the last five trading days and 4.48% over the last twenty days, while it has increased by 8.94% over the last sixty days [2]. Group 2: Company Overview - Hongquan IoT, established on June 11, 2009, and listed on November 6, 2019, is based in Hangzhou, Zhejiang Province, and specializes in automotive intelligent networking equipment and big data cloud platforms [2]. - The company's revenue composition includes intelligent networking (54.66%), intelligent cockpit (19.26%), controllers (13.57%), software platform development (12.07%), and others (0.44%) [2]. - Hongquan IoT operates within the computer industry, specifically in the computer equipment sector, and is associated with concepts such as data elements, smart governance, small-cap stocks, vehicle networking, and star flash concepts [2]. Group 3: Financial Performance - For the first half of 2025, Hongquan IoT reported a revenue of 334 million CNY, reflecting a year-on-year growth of 37.21%, and a net profit attributable to shareholders of 33.44 million CNY, which is a 283.57% increase year-on-year [2]. - The company has distributed a total of 65 million CNY in dividends since its A-share listing, with no dividends paid in the last three years [3]. - As of June 30, 2025, the number of shareholders decreased by 4.33% to 6,003, while the average circulating shares per person increased by 4.53% to 16,765 shares [2].