Core Viewpoint - Zhongfu Shenying (688295.SH) reported a significant increase in revenue and net profit for the first three quarters of the year, indicating strong business performance and growth potential [1] Financial Performance - The company's operating revenue for the first three quarters reached 1.537 billion yuan, representing a year-on-year growth of 37.39% [1] - The net profit attributable to shareholders of the listed company was 62.93 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 49.47 million yuan [1] - The basic earnings per share stood at 0.07 yuan [1]

Core Viewpoint - The company, Zhongfu Shenying (688295.SH), has completed its "Carbon Fiber Aviation Application R&D and Manufacturing Project" and plans to permanently allocate surplus funds from this project to support daily operational activities, thereby enhancing operational efficiency [1] Fund Allocation - The company intends to transfer surplus funds amounting to 36.7563 million yuan (actual amount subject to the balance on the transfer date) from the fundraising project account to its own funds account for permanent use in working capital [1] - Remaining funds required for the project will continue to be held in the fundraising account for future payments [1]

证券代码：688295 证券简称：中复神鹰 公告编号：2025-042 中复神鹰碳纤维股份有限公司 关于 2025 年前三季度计提资产减值准备的公告 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、准确性和完整性依法承担法律责任。 一、本次计提资产减值准备的情况概述 根据《企业会计准则第 1 号——存货》《企业会计准则第 22 号——金融工 具确认和计量》等相关会计政策的规定，为客观、公允地反映中复神鹰碳纤维股 份有限公司（以下简称"公司"）截至 2025 年 9 月 30 日的财务状况及 2025 年 前三季度的经营成果，经公司对各项金融资产、存货和长期资产等进行全面充分 的评估和分析，认为上述资产中部分资产存在一定的减值迹象。根据谨慎性原则， 公司 2025 年前三季度计提的减值准备合计为 1,293.64 万元。具体情况如下： 单位：万元 | 项目 | 2025 | 年 | 1-9 | 月计提金额 | 备注 | 应收票据、应收账款、其 | | --- | --- | --- | --- | --- | --- | --- | | 计提信用减值损失 | ...

证券代码：688295 证券简称：中复神鹰 公告编号：2025-041 中复神鹰碳纤维股份有限公司 关于部分募投项目结项并将节余募集资金永久补充 流动资金的公告 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、准确性和完整性依法承担法律责任。 中复神鹰碳纤维股份有限公司（以下简称"公司"）于 2025 年 10 月 22 日召 开了第二届董事会第十三次会议，审议通过了《公司募投项目结项并将节余募集 资金永久补充流动资金的议案》，同意公司募集资金投资项目（以下简称"募投 项目"）"碳纤维航空应用研发及制造项目"结项，并将节余募集资金永久补充流 动资金。保荐机构国泰海通证券股份有限公司（以下简称"保荐机构"）对上述 事项出具了明确同意的核查意见，本议案无需提交股东会审议。 一、募集资金基本情况 中国证券监督管理委员会于 2022 年 2 月 22 日出具了《关于同意中复神鹰碳 纤维股份有限公司首次公开发行股票注册的批复》（证监许可[2022]337 号），同 意公司首次公开发行股票的注册申请。公司首次公开发行人民币普通股（A 股） 100,000,000.00 ...

格隆汇10月22日丨中复神鹰(688295.SH)公布，根据谨慎性原则，公司2025年前三季度计提的减值准备 合计为1,293.64万元。 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥61,530.81 million, representing a year-on-year increase of 59.23%[3] - The net profit attributable to shareholders was ¥5,100.48 million, with a significant improvement from a loss to profit due to increased sales and cost reduction measures[10] - The basic earnings per share for the quarter was ¥0.06, with diluted earnings per share also at ¥0.06, indicating a recovery from previous losses[4] - Total operating revenue for the first three quarters of 2025 reached ¥1,536,926,021.13, a significant increase of 37.4% compared to ¥1,118,686,435.48 in the same period of 2024[21] - Operating profit for the first three quarters of 2025 was ¥74,206,043.22, recovering from a loss of ¥9,979,363.63 in the first three quarters of 2024[22] - Net profit for the first three quarters of 2025 was ¥62,934,646.33, compared to a net loss of ¥8,338,793.32 in the same period of 2024, indicating a turnaround in profitability[22] - Earnings per share for the first three quarters of 2025 were ¥0.07, recovering from a loss of ¥0.01 per share in the same period of 2024[23] Research and Development - Research and development expenses totaled ¥3,826.07 million, accounting for 6.22% of operating revenue, a decrease of 2.03 percentage points compared to the previous year[4] - Research and development expenses increased to ¥113,798,595.08 in the first three quarters of 2025, up from ¥92,611,641.43 in the same period of 2024, reflecting a focus on innovation[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥943,768.19 million, reflecting a slight increase of 0.86% from the end of the previous year[4] - The company's current assets decreased to RMB 2,724,475,001.03 from RMB 2,955,667,140.99 in the previous year, reflecting a decline of approximately 7.8%[16] - Total liabilities decreased slightly to ¥4,747,634,838.07 in 2025 from ¥4,732,092,381.02 in 2024, indicating stable financial management[18] - Total equity attributable to shareholders increased to ¥4,690,047,072.81 in 2025 from ¥4,625,279,704.26 in 2024, showing growth in shareholder value[18] Cash Flow - The net cash flow from operating activities was negative at -¥4,079.34 million, a decline of 119.90% compared to the same period last year, primarily due to the timing of invoice settlements[10] - Operating cash inflow for the first three quarters of 2025 was CNY 1,328,550,623.34, a slight increase from CNY 1,319,362,620.39 in the same period of 2024[25] - Net cash flow from operating activities decreased significantly to CNY 33,903,088.41 compared to CNY 229,974,623.61 in the first three quarters of 2024[25] - Cash inflow from investment activities totaled CNY 1,713,646,834.74, down from CNY 3,069,339,087.96 in the previous year[26] - The ending cash and cash equivalents balance for the first three quarters of 2025 was CNY 882,997,165.55, down from CNY 973,902,441.61 in the same period of 2024[26] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,538, indicating a stable shareholder base[12] - The company has a major shareholder, China National Building Material Group Corporation, holding 33.16% of the total shares, which became fully tradable on October 9, 2025[14] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to enhance profitability and operational efficiency[10]

Core Insights - The company Zhongfu Shenying (688295) reported a significant increase in revenue and net profit for the third quarter of 2025, with revenue reaching 615 million yuan, a year-on-year growth of 59.23% [1] - For the first three quarters of 2025, the company achieved a total revenue of 1.537 billion yuan, reflecting a year-on-year increase of 37.39%, and a net profit of 62.9346 million yuan [1] - The growth in performance is attributed to increased sales volume, cost reduction through technology, expense management, and improved product quality, which enhanced profitability [1] Financial Performance - Third quarter revenue: 615 million yuan, up 59.23% year-on-year [1] - Net profit for the third quarter: 51.0048 million yuan [1] - Revenue for the first three quarters: 1.537 billion yuan, up 37.39% year-on-year [1] - Net profit for the first three quarters: 62.9346 million yuan [1] - Basic earnings per share: 0.07 yuan [1]

国泰海通证券股份有限公司 关于中复神鹰碳纤维股份有限公司 部分募投项目结项并将节余募集资金永久补充流动资金的 核查意见 根据《证券发行上市保荐业务管理办法》《上海证券交易所科创板股票上市 规则》《上市公司募集资金监管规则》《上海证券交易所科创板上市公司自律监管 指引第 1 号——规范运作》等有关规定，国泰海通证券股份有限公司（以下简称 "保荐机构"）作为中复神鹰碳纤维股份有限公司（以下简称"中复神鹰"或"公 司"）首次公开发行股票的持续督导保荐机构，就公司部分募投项目结项并将节 余募集资金永久补充流动资金进行了核查，具体情况如下： | 募集资金投资项目 | | | 利息及现金 | | 预计节余募 | | --- | --- | --- | --- | --- | --- | | | 拟使用募集资 | 实际投入募集 | 管理收益减 | 尚需支付的 | 集资金金额 | | | 金投资额(A) | 资金金额(B) | 手续费净额 | 款项(D) | (E)=A-B+C | | | | | (C) | | D | | 碳纤维航空应用研 发及制造项目 | 36,172.00 | 32,082.30 | 1,071.54 ...

Investment Rating - The investment rating for the company is "Add" [1] Core Insights - The company has turned a profit in Q2, indicating a turning point in both the industry and the company's operations [4] - The carbon fiber industry is expected to rebound, with increasing demand from sectors such as wind and solar energy [6] - The company is projected to benefit from a new cycle of growth in the carbon fiber market, with expected net profits of 1.07 billion, 1.78 billion, and 2.90 billion yuan for 2025-2027 [6] Financial Performance Summary - In H1 2025, the company achieved revenue of 922 million yuan, a year-on-year increase of 25.86%, but the net profit attributable to shareholders decreased by 52.23% [6] - Q2 2025 saw a significant improvement, with revenue of 520 million yuan, up 83.15% year-on-year, and a net profit of 57 million yuan, up 439.98% year-on-year [6] - The company’s carbon fiber production capacity stands at 29,000 tons per year, with an additional 31,000 tons under construction, positioning it among the world's leaders in capacity [6] Profit Forecast - Revenue is forecasted to be 1.557 billion yuan in 2024, growing to 3.030 billion yuan by 2027, with corresponding growth rates of -31.1%, 30.4%, 24.6%, and 19.8% [5] - Net profit is expected to recover from a loss of 124 million yuan in 2024 to a profit of 290 million yuan by 2027, with growth rates of -139.1%, 186.2%, 66.2%, and 62.7% [5] - Earnings per share (EPS) is projected to improve from -0.14 yuan in 2024 to 0.32 yuan in 2027 [5] Market Dynamics - The carbon fiber market has seen a decline in prices, with average prices in 2023, 2024, and H1 2025 at 118.33, 90.10, and 83.75 yuan/kg respectively, reflecting year-on-year decreases of -32.61%, -23.85%, and -11.26% [6] - The demand for carbon fiber is expected to increase, particularly in the wind energy sector, which has seen over 200% growth year-on-year [6]

证券代码：688295 证券简称：中复神鹰 公告编号：2025-040 中复神鹰碳纤维股份有限公司 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： 投 资 者 可 于 2025 年 10 月 28 日 （ 星 期 二 ） 前 访 问 网 址 https://eseb.cn/1sl2d2opMze 或使用微信扫描下方小程序码进行会前提问，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。 中复神鹰碳纤维股份有限公司（以下简称"公司"）将于 2025 年 10 月 23 日披露《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 10 月 28 日（星期二）14:00-15:00 在"价值在线"（www.ir-online.cn）举办中复神鹰碳纤维股份有限公司 2025 年第三季度业绩说明会，与投资者进行沟通和交流，广泛听取投资者的意见和建 议。 一、说明会类型 本次业绩 ...