Financial Situation - The main funds of the company experienced a net outflow of 150,400 yuan on February 9, 2026, compared to a net inflow of 811,000 yuan on January 8, 2026, indicating a change in short-term funding sentiment [1] Performance and Operations - For the first nine months of 2025, the company's operating revenue was 370 million yuan, a year-on-year decrease of 15.01%, while the net profit attributable to the parent company was 44.15 million yuan, down 16.56% year-on-year [2] Industry Policy and Environment - The industrial automation sector, to which the company belongs, is benefiting from the trend of manufacturing upgrades, and policy guidance may impact long-term development [3] Shareholder Situation - As of September 30, 2025, the number of shareholders increased by 5.29% compared to the previous period, with new institutional shareholders such as CITIC Prudential Multi-Strategy Mixed Fund entering [4]

Group 1 - The core business of Mingzhi Technology focuses on sand casting, with a development strategy to strengthen casting equipment, expand casting production, and refine casting services [2] - As of September 30, 2025, Mingzhi Technology reported a revenue of 370 million yuan, a year-on-year decrease of 15.01%, and a net profit attributable to shareholders of 44.15 million yuan, down 16.56% year-on-year [2] - The company has distributed a total of 166 million yuan in dividends since its A-share listing, with 117 million yuan distributed in the last three years [3] Group 2 - On January 29, 2025, Mingzhi Technology's stock price fell by 0.65%, with a trading volume of 25.01 million yuan [1] - The financing buy-in amount on January 29 was 2.82 million yuan, with a net financing buy of 832,700 yuan, indicating a relatively high financing balance of 33.88 million yuan, which accounts for 1.38% of the circulating market value [1] - The company has seen an increase in the number of shareholders, reaching 5,353, which is a 5.29% increase compared to the previous period [2]

Group 1 - The core viewpoint of the article indicates that Mingzhi Technology expects its business revenue from the EU region to account for approximately 33% of the company's total operating revenue in 2024 [1] - The company's sales in the EU market are primarily conducted through domestic entities exporting directly to EU customers, with some sales occurring through subsidiaries established in EU countries [1]

证券代码：688355 证券简称：明志科技 公告编号：2025-039 苏州明志科技股份有限公司 关于使用暂时闲置自有资金进行现金管理的公告 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。 苏州明志科技股份有限公司（以下简称"公司"）于 2025 年 12 月 26 日召 开第三届董事会第三次会议、第三届董事会审计委员会 2025 年第三次会议，审 议通过了《关于使用暂时闲置自有资金进行现金管理的议案》，公司董事会及审 计委员会均同意在保障正常生产经营资金需求的情况下，为优化资金配置，提 高闲置自有资金的使用效率和收益，使用不超过人民币 80,000.00 万元（含本数） 的闲置自有资金进行现金管理，适时购买银行、券商、基金公司等金融机构发 行的流动性好、风险可控的理财产品。上述额度使用期限自公司董事会审议通 过之日起 12 个月内有效，在上述额度及期限范围内，资金可循环滚动使用。公 司授权董事长在上述购买理财产品额度和时间范围内决定具体的理财事宜、签 署与购买理财产品有关的合同、协议等各项法律文件，并办理相关手续，具体 ...

Group 1 - The company has implemented share repurchase to execute the 2021 and 2023 restricted stock incentive plans [1] - The company will disclose any new share repurchase situations related to restricted stock incentive plans in a timely manner as per regulations [1]

Core Insights - The list of major equipment for the year 2025 has been publicly announced, highlighting four companies from Wujiang Development Zone that have successfully been recognized for their equipment [1] - The recognition of first sets of major technical equipment is crucial for measuring a company's core competitiveness and reflects the high-quality development level of the manufacturing industry [1] Group 1: Company Highlights - Bozhong Precision's "Tunnel Cavity Large Size Battery Cell High-Pressure Injection Equipment" features a unique horizontal double-layer tunnel cavity structure, achieving breakthroughs in key technologies that enhance the efficiency and precision of liquid injection for large battery cells [2] - Zhongke Heavy Instrument's "ZY316 Gallium Nitride Power Semiconductor MOCVD Equipment" introduces an innovative reaction chamber design that improves material uniformity and reduces production costs by 30%, addressing industry challenges and reducing reliance on imports [2] - Hengtong Intelligent Equipment's "TXLS-WJ80 New Generation Fully Automatic Optical Fiber Drawing Equipment" utilizes high-purity argon gas to replace helium, significantly lowering production costs and overcoming import dependencies in high-end special optical fiber drawing equipment [3] - Mingzhi Technology's "MZZX200 High-Efficiency Brake Disc Cold Core Box System" is designed for large-scale production of passenger car brake disc sand cores, integrating intelligent control systems to enhance efficiency and energy consumption [3] Group 2: Industry Development - Wujiang Development Zone has prioritized the cultivation, research, and application of first sets of major technical equipment, effectively stimulating innovation through policy guidance and optimized innovation ecosystems [1] - The zone plans to continue improving its support system, focusing on key technological breakthroughs and promoting collaboration and demonstration applications to facilitate the transition from "first set" to "first order" and market proliferation [3]

Group 1 - The core business of Mingzhi Technology focuses on sand casting, with a development strategy to strengthen casting equipment, expand casting production, and refine casting services [2] - As of September 30, 2025, Mingzhi Technology reported a revenue of 370 million yuan, a year-on-year decrease of 15.01%, and a net profit attributable to shareholders of 44.15 million yuan, down 16.56% year-on-year [2] - The company has distributed a total of 166 million yuan in dividends since its A-share listing, with 117 million yuan distributed in the last three years [3] Group 2 - On November 21, Mingzhi Technology's stock fell by 4.54%, with a trading volume of 31.83 million yuan [1] - The financing data on November 21 showed a financing purchase of 3.43 million yuan and a financing repayment of 6.56 million yuan, resulting in a net financing outflow of 3.13 million yuan [1] - The total balance of margin trading for Mingzhi Technology as of November 21 was 38.11 million yuan, accounting for 1.72% of its market capitalization, indicating a high level compared to the past year [1]

Core Viewpoint - Mingzhi Technology, established in 2003 and listed in 2021, is a leader in the domestic sand casting industry, focusing on high-end core equipment and high-quality aluminum alloy castings, with a strong technical and industrial chain advantage [1] Group 1: Business Performance - In Q3 2025, Mingzhi Technology achieved revenue of 370 million yuan, ranking 69th among 82 companies in the industry, while the industry leader, CIMC, reported revenue of 117.061 billion yuan [2] - The net profit for the same period was 44.131 million yuan, placing the company 48th in the industry, with the top performer, CIMC, reporting a net profit of 2.395 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Mingzhi Technology's debt-to-asset ratio was 23.09%, significantly lower than the industry average of 39.81%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 31.24%, higher than the industry average of 22.64%, reflecting robust profitability [3] Group 3: Executive Compensation - The chairman, Wu Qinfang, received a salary of 611,000 yuan in 2024, a decrease of 402,400 yuan from 2023 [4] - The general manager, Qiu He, also received a salary of 611,000 yuan in 2024, down by 195,500 yuan from the previous year [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 5.29% to 5,353, while the average number of circulating A-shares held per household decreased by 5.03% to 23,200 shares [5] - New major shareholders include CITIC Prudential Multi-Strategy Mixed Fund A, among others, while Huashang Shanghai Stock Exchange Science and Technology Innovation Board Comprehensive Index Enhanced A exited the top ten list [5]

Core Viewpoint - Mingzhi Technology (688355.SH) reported a decline in revenue and net profit for the first three quarters of 2025 compared to the previous year [1] Financial Performance - The total operating revenue for the first three quarters reached 370 million yuan, representing a year-on-year decrease of 15.01% [1] - The net profit attributable to shareholders was 44.15 million yuan, down 16.56% year-on-year [1] - The basic earnings per share stood at 0.36 yuan [1]

Core Viewpoint - Mingzhi Technology reported a decline in both revenue and net profit for the first three quarters of the year, indicating potential challenges in its financial performance [1]. Financial Performance - The company's operating revenue for the first three quarters was 369,786,805.34 yuan, representing a year-on-year decrease of 15.01% [1]. - The net profit attributable to shareholders of the listed company was 44,152,064.99 yuan, which is a year-on-year decrease of 16.56% [1]. Shareholder Changes - Among the top ten circulating shareholders, new entrants include: - Industrial and Commercial Bank of China - CITIC Prudential Multi-Strategy Flexible Allocation Mixed Securities Investment Fund (LOF) - China Merchants Securities - Zhongjia Specialized and New Quantitative Stock Selection Mixed Initiation Securities Investment Fund - China Minsheng Bank - Jianxin Flexible Allocation Mixed Securities Investment Fund [1].