（原标题：富淼科技(688350.SH)：董事、总经理韩江文辞职） 为保障公司经营管理的连续性与稳定性，在新任总经理聘任完成前，暂由公司董事长钱鑫先生代为履行 总经理职责。公司将严格按照法律法规及《公司章程》规定，积极推进新任董事及总经理的选聘工作。 格隆汇11月14日丨富淼科技(688350.SH)公布，公司董事会于近日收到公司董事、总经理韩江文先生的 书面辞呈。韩江文先生因个人原因申请辞去公司董事、总经理职务，辞职后不再担任公司任何职务。 ...

Core Insights - The total margin financing balance on the STAR Market decreased by 0.33 billion yuan, while the margin short selling balance increased by 11.064 million yuan as of November 10 [1][2] Financing Balance Summary - The total margin financing balance reached 260.063 billion yuan, with a decrease of 0.327 billion yuan from the previous trading day [1] - The highest margin financing balance was held by Cambrian (寒武纪) at 15.133 billion yuan, followed by SMIC (中芯国际) and Haiguang Information (海光信息) with balances of 13.768 billion yuan and 8.585 billion yuan respectively [1] - A total of 306 stocks saw an increase in margin financing balance, while 280 stocks experienced a decrease [1] - Notable increases in margin financing balance were observed in Fumiao Technology (富淼科技), Huasheng Lithium (华盛锂电), and Zhuoyue New Energy (卓越新能) with increases of 30.85%, 30.08%, and 29.26% respectively [1] - Significant decreases were noted in Zhongke Feimiao (中科飞测), Pinming Technology (品茗科技), and Hanghua Co. (杭华股份) with declines of 15.48%, 14.70%, and 13.69% respectively [1] Short Selling Balance Summary - The highest margin short selling balance was recorded for Haiguang Information at 4.3 million yuan, followed by Cambrian and SMIC with balances of 3.7 million yuan and 3.1 million yuan respectively [2] - A total of 147 stocks saw an increase in margin short selling balance, while 130 stocks experienced a decrease [2] - The largest increases in margin short selling balance were seen in Zhenlei Technology (臻镭科技), Kewell (科威尔), and Sitwei (思特威) with increases of 350.02%, 237.39%, and 212.93% respectively [2] - The most significant decreases were observed in Youkede (优刻得), Liyuanheng (利元亨), and Lante Optics (蓝特光学) with declines of 74.90%, 67.59%, and 64.52% respectively [2]

Core Viewpoint - Fumiao Technology (688350.SH) reported a decline in institutional ownership in its Q3 2025 financial results, with a total of 5 institutional investors holding 64.1542 million shares, representing 52.52% of the total share capital, a decrease of 3.14 percentage points from the previous quarter [1] Institutional Ownership - As of October 30, 2025, institutional investors include Yongzhuo Holdings Limited, Jiangsu Feixiang Chemical Co., Ltd., Jiangsu Fumiao Technology Co., Ltd. - 2022 Employee Stock Ownership Plan, Beijing Ruishibang Fine Chemical Technology Co., Ltd., and Yinhua Huiyi One-Year Holding Period Mixed A [1] - The total institutional ownership percentage decreased by 3.14 percentage points compared to the previous quarter [1] Public Fund Activity - One new public fund disclosed its holdings this quarter, namely Yinhua Huiyi One-Year Holding Period Mixed A [1] - A total of 37 public funds were not disclosed in this quarter compared to the previous quarter, including major funds such as Dacheng Jingheng Mixed A, Zhongjia Specialized and New Quantitative Stock Selection Mixed Initiation A, and others [1]

Group 1 - The company reported a revenue of 1.091 billion yuan for the first three quarters of 2025, representing a year-on-year decrease of 6.94% [1] - The net profit attributable to the parent company was 35.58 million yuan, showing a year-on-year increase of 52.24% [1] - The non-recurring net profit reached 27.22 million yuan, reflecting a year-on-year growth of 73.52% [1] - The basic earnings per share stood at 0.29 yuan [1]

Core Viewpoint - Fumiao Technology, established in December 2010 and listed on the Shanghai Stock Exchange in January 2021, is a leading company in the functional polymer materials sector in China, with a full industry chain advantage [1] Group 1: Business Performance - For Q3 2025, Fumiao Technology reported revenue of 1.091 billion yuan, ranking 33rd in the industry, significantly lower than the top competitor, Sinochem International, which had 35.716 billion yuan [2] - The company's net profit for the same period was 37.6192 million yuan, placing it 46th in the industry, again far below the leading competitors [2] - The revenue composition includes 327 million yuan from water-soluble polymers, accounting for 45.33%, and 278 million yuan from functional monomers, making up 38.57% [2] Group 2: Financial Ratios - As of Q3 2025, Fumiao Technology's debt-to-asset ratio was 45.01%, higher than the previous year's 39.73% and above the industry average of 34.74% [3] - The gross profit margin for the same period was 15.80%, an increase from 13.53% year-on-year, but still below the industry average of 19.93% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 4.02% to 4,681, while the average number of circulating A-shares held per shareholder decreased by 3.87% to 26,100 [5] Group 4: Leadership - The chairman of Fumiao Technology, Qian Xin, born in September 1981, has extensive experience in the financial sector and currently serves as the chairman and general manager of Shanghai Qianyu Equity Investment Fund Management Co., Ltd. [4]

Core Insights - The company reported a revenue of 1.091 billion yuan for the first three quarters of 2025, a year-on-year decrease of 6.94% [1] - The net profit attributable to shareholders was 35.58 million yuan, showing a year-on-year increase of 52.24% [1] - The basic earnings per share stood at 0.29 yuan [2] Financial Performance - The gross profit margin for the first three quarters was 15.80%, an increase of 2.27 percentage points year-on-year [2] - The net profit margin was 3.45%, up 1.93 percentage points compared to the same period last year [2] - In Q3 2025, the gross profit margin reached 16.85%, a year-on-year increase of 4.99 percentage points [2] - The net profit margin for Q3 was 4.89%, reflecting a year-on-year increase of 5.86 percentage points [2] Cost Structure - Total operating expenses for the period were 140 million yuan, a decrease of 1.32 million yuan year-on-year [2] - The expense ratio was 12.79%, up 0.78 percentage points from the previous year [2] - Sales expenses decreased by 7.13%, management expenses decreased by 8.49%, and R&D expenses decreased by 1.23% [2] - Financial expenses increased significantly by 145.82% [2] Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 4,681, an increase of 181 from the end of the previous half-year, representing a growth of 4.02% [2] - The average market value per shareholder rose from 432,700 yuan to 590,000 yuan, an increase of 36.36% [2] Company Overview - Jiangsu Fumiao Technology Co., Ltd. was established on December 16, 2010, and went public on January 28, 2021 [3] - The company's main business includes the R&D, production, and sales of functional monomers, water-soluble polymers, water treatment membranes, and related applications [3] - The revenue composition is as follows: water-soluble polymers 45.33%, functional monomers 38.57%, energy supply 10.16%, water treatment membranes and applications 2.74%, and other products 3.20% [3]

证券代码：688350 证券简称：富淼科技 公告编号：2025-069 转债代码：118029 转债简称：富淼转债 江苏富淼科技股份有限公司 关于对外投资设立境外全资子公司的公告 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。 重要内容提示： 1 投资标的名称：富淼国际（新加坡）有限公司（暂定名，以最终当地相关 主管部门核准登记为准） 投资金额：不超过 200 万美元 风险提示：本次投资事项尚需获得国家相关管理部门审批、核准及备案后 方可实施，具有不确定性。本次对外投资符合公司战略布局和业务发展需 要，但仍可能受到宏观经济、行业政策、市场环境及经营管理等因素影响， 存在实际经营状况及盈利能力不及预期等风险。敬请广大投资者注意投资 风险。 本事项已经江苏富淼科技股份有限公司（以下简称"公司"）第六届董事会 第四次会议于 2025 年 10 月 29 日审议通过。根据相关规定，该事项未达 到股东大会审议标准，无需提交股东大会审议。 一、对外投资概述 （一）对外投资基本情况 根据公司战略规划与经营发展的需要，为进一步完善公司国际 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥370,104,433.59, a decrease of 9.10% compared to the same period last year[2] - The total profit for the year-to-date period reached ¥43,188,408.71, representing a significant increase of 121.43% year-on-year[2] - The net profit attributable to shareholders was ¥15,065,073.49 for Q3, with a year-to-date net profit of ¥35,580,345.68, up by 52.24% compared to the previous year[2] - Total operating revenue for the first three quarters of 2025 was CNY 1,091,174,507.59, a decrease of 6.93% compared to CNY 1,172,582,357.70 in the same period of 2024[20] - Net profit for the first three quarters of 2025 reached CNY 37,619,191.80, an increase of 111.57% compared to CNY 17,756,191.67 in 2024[21] - Total comprehensive income attributable to the parent company reached CNY 35,580,345.68, up from CNY 23,370,783.44 in the same period last year, reflecting a significant increase[22] Cash Flow and Liquidity - The cash flow from operating activities for the year-to-date period was ¥138,301,402.23, an increase of 127.20% year-on-year[2] - Net cash flow from operating activities was CNY 138,301,402.23, compared to CNY 60,871,263.36 in the previous year, indicating a strong improvement[23] - The company's cash and cash equivalents as of September 30, 2025, amount to ¥333,813,137.88, down from ¥473,259,278.53 as of December 31, 2024[14] - The company's cash and cash equivalents at the end of the period were CNY 331,935,292.98, slightly up from CNY 317,334,790.26 in the previous year[23] - The cash flow from operating activities increased to CNY 222,384,105.63 in 2025 from CNY 75,964,754.54 in 2024, representing a significant improvement[32] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,748,656,827.16, an increase of 1.80% from the end of the previous year[3] - Total liabilities increased slightly to CNY 1,237,284,887.61 from CNY 1,225,875,968.24, representing a growth of 0.11%[16] - The company's total assets amounted to CNY 2,748,656,827.16, up from CNY 2,700,018,947.74 in the previous year, indicating a growth of 1.8%[17] - Total liabilities decreased to CNY 721,826,614.49 from CNY 747,832,804.45, indicating a reduction in financial obligations[26] Shareholder Information - Total number of common shareholders at the end of the reporting period is 4,681[10] - The largest shareholder, Yongzhuo Holdings Limited, holds 36,620,000 shares, representing 29.98% of total shares[10] - Jiangsu Feixiang Chemical Co., Ltd. is the second-largest shareholder with 22,818,310 shares, accounting for 18.68%[10] - The company has a total of 2,046,896 shares held by Beijing Ruishi Bang Fine Chemical Technology Co., Ltd., representing 1.68% of total shares[11] - The employee stock ownership plan holds 2,667,312 shares, which is 2.18% of total shares[10] Research and Development - Research and development expenses totaled ¥16,246,711.73 for Q3, accounting for 4.39% of operating revenue, a slight increase from 4.84% year-on-year[3] - Research and development expenses for the first three quarters of 2025 were CNY 52,806,652.82, slightly down from CNY 53,463,209.71 in 2024[20] - The company's research and development expenses for the first three quarters of 2025 were CNY 29,469,451.02, slightly up from CNY 28,116,914.78 in the same period of 2024[28] Financial Expenses and Income - The company reported a significant increase in other income to CNY 18,774,609.94, compared to CNY 9,506,751.07 in the previous year, reflecting a growth of 97.66%[20] - The company’s financial expenses increased to CNY 9,936,126.37 from CNY 4,042,056.92, indicating a rise of 145.5%[20] - The company reported a financial expense of CNY 7,698,253.32 in 2025, significantly higher than CNY 2,807,369.44 in 2024, primarily due to increased interest expenses[28] Government Subsidies - The company received government subsidies amounting to ¥2,599,469.87 during the year-to-date period, contributing to the overall profit increase[5]

Core Viewpoint - Fumiao Technology (688350.SH) plans to invest up to $2 million to establish a wholly-owned subsidiary in Singapore to enhance its international presence and product supply capabilities in the global market [1] Group 1: Investment and Strategic Planning - The investment will utilize the company's own funds, indicating a commitment to self-financed growth [1] - The Singapore subsidiary will play a crucial role as an overseas platform, leveraging Singapore's status as an international financial and shipping hub [1] Group 2: Market Expansion and Competitiveness - The establishment of the subsidiary aims to promote multinational collaboration and expand the company's reach in the global market [1] - This move is expected to enhance the company's product advantages in international competition [1]

Core Points - The company announced the results of the "Fumeiao Convertible Bond" repurchase, indicating that no investors submitted repurchase applications during the designated period [2][4][5] - The repurchase period was from September 23 to September 29, 2025, with a repurchase price of 100.46 RMB per bond, including interest [3][4] - The company confirmed that the repurchase will not have a substantial impact on its cash flow, asset status, or share capital [5] Summary of Convertible Bond Repurchase - The repurchase announcement was made on September 16, 2025, with subsequent reminders issued on September 18, 25, and 27 [3] - The effective repurchase quantity was 0 bonds, resulting in a total repurchase amount of 0 RMB, concluding the repurchase process without further actions required [2][4] Impact of the Repurchase - The lack of repurchase applications means that the company's financial position remains stable, with no changes to cash flow or assets [5] Subsequent Matters - Unrepurchased "Fumeiao Convertible Bonds" will continue to be traded on the Shanghai Stock Exchange [6] Convertible Bond Conversion Results - As of September 30, 2025, a total of 7,000 RMB has been converted into company shares, resulting in 369 shares, which is 0.0003% of the total shares before conversion [10][15] - The remaining balance of unconverted convertible bonds is 449,993,000 RMB, accounting for 99.9984% of the total issuance [10][15] Issuance Overview - The company issued 4.5 million convertible bonds on December 15, 2022, with a total fundraising amount of 45 million RMB, and the bonds are set to mature on December 14, 2028 [11] - The initial conversion price was set at 20.26 RMB per share, which has been adjusted to 18.43 RMB per share [11][15]