Core Insights - The company reported a total revenue of 329 million yuan for Q3 2025, representing an 18.03% year-on-year increase, while the net profit attributable to shareholders decreased by 3.75% to 29.5168 million yuan [1] - The company's accounts receivable is notably high, with accounts receivable accounting for 349.06% of the latest annual net profit [3] - The gross margin decreased to 32.7%, down 9.37% year-on-year, and the net margin fell to 8.98%, a decline of 18.46% [1] Financial Performance - Total revenue for Q3 2025 was 1.09 billion yuan, up 20.45% year-on-year, while net profit for the same quarter was 7.6409 million yuan, an increase of 5.41% [1] - The company’s operating cash flow per share increased by 15.38% to 0.28 yuan, while earnings per share decreased by 5.56% to 0.34 yuan [1] - The total of selling, administrative, and financial expenses was 48.7357 million yuan, accounting for 14.82% of revenue, a decrease of 3.07% year-on-year [1] Debt and Cash Flow - The company’s cash assets are reported to be very healthy, with cash funds increasing by 110.40% to 136 million yuan [1][4] - Interest-bearing liabilities surged by 1221.68% to 1.6214 million yuan, indicating a significant increase in debt [1] Business Model and Market Strategy - The company’s business model relies heavily on research and marketing efforts, which require careful examination of the underlying drivers [4] - The overseas market has been established in regions including Europe, Southeast Asia, South Asia, and the CIS, with plans to enhance competitiveness through improved channel networks and localized product adaptations [5]

Core Viewpoint - The company reported a year-on-year increase in revenue and net profit for the third quarter, indicating positive financial performance and growth potential [1] Financial Performance - The company achieved operating revenue of 109 million yuan in the third quarter, representing a year-on-year growth of 20.45% [1] - The net profit attributable to shareholders of the listed company was 7.64 million yuan, showing a year-on-year increase of 5.41% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 5.81 million yuan, reflecting a year-on-year growth of 2.02% [1] - The basic earnings per share were reported at 0.09 yuan [1]

Core Insights - The company reported a revenue of 329 million yuan for the first three quarters of 2025, representing a year-on-year growth of 18.03% [1] - The net profit attributable to shareholders decreased to 29 million yuan, reflecting a year-on-year decline of 3.75% [1] - Basic earnings per share were 0.34 yuan, down 5.56% compared to the previous year [1]

证券代码：688395 证券简称：正弦电气 公告编号：2025-048 深圳市正弦电气股份有限公司 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、准确性和完整性依法承担法律责任。 重要内容提示： 会议召开时间：2025 年 11 月 04 日（星期二）上午 11:00-12:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 本次投资者说明会以网络互动形式召开，公司将针对 2025 年第三季度经营 成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范 围内就投资者普遍关注的问题进行回答。 二、 说明会召开的时间、地点 （一） 会议召开时间：2025 年 11 月 04 日(星期二) 上午 11:00-12:00 （二） 会议召开地点：上证路演中心（网址：https://roadshow.sseinfo.com/） （三） 会议召开方式：上证路演中心网络互动 会议召开方式：上证路演 ...

Financial Performance - The company's operating revenue for Q3 2025 reached ¥108,908,618.59, representing a year-over-year increase of 20.45%[3] - The total profit for the period was ¥7,898,492.04, reflecting a growth of 17.83% compared to the same period last year[3] - Net profit attributable to shareholders was ¥7,640,936.64, which is a 5.41% increase year-over-year[3] - Total operating revenue for the first three quarters of 2025 reached ¥328,813,622.68, an increase of 18.0% compared to ¥278,585,078.18 in the same period of 2024[18] - Net profit for the first three quarters of 2025 was ¥29,516,811.89, a decrease of 3.7% from ¥30,668,019.78 in the same period of 2024[19] - The company's net profit for the first three quarters of 2025 is CNY 5,597,206.90, a significant decrease from CNY 18,741,343.28 in the same period of 2024, representing a decline of approximately 70%[30] - The total profit for the first three quarters of 2025 is CNY 5,597,613.06, down from CNY 20,479,924.02 in 2024, reflecting a decrease of approximately 72.7%[30] Research and Development - Research and development expenses totaled ¥10,613,662.11, accounting for 9.75% of operating revenue, a decrease of 1.65 percentage points from the previous year[4] - Research and development expenses for the first three quarters of 2025 totaled ¥28,375,977.34, a slight decrease of 4.5% from ¥29,722,817.95 in the previous year[18] - Research and development expenses for the first three quarters of 2025 were CNY 11,547,283.57, slightly down from CNY 11,715,985.36 in the same period of 2024[28] Assets and Liabilities - The total assets at the end of the reporting period were ¥944,067,068.73, showing a 2.14% increase from the end of the previous year[4] - Total current assets as of September 30, 2025, amount to ¥658,915,807.55, compared to ¥653,560,751.45 at the end of 2024[14] - Total assets as of September 30, 2025, are ¥944,067,068.73, up from ¥924,258,455.95[14] - Non-current assets total ¥285,151,261.18, compared to ¥270,697,704.50 at the end of 2024[14] - Total liabilities as of the end of the reporting period were ¥164,892,313.63, compared to ¥164,052,133.58 at the end of the previous year[16] - Non-current liabilities totaled ¥16,214,526.79, an increase from ¥10,258,027.78 in the previous year[16] Cash Flow - The company reported a cash flow from operating activities of ¥24,620,867.61 for the year-to-date, which is an increase of 16.18%[3] - Net cash flow from operating activities was CNY 24,620,867.61, an increase of 16.5% from CNY 21,192,261.48 in the previous year[22] - The net cash flow from operating activities for the first three quarters of 2025 is negative at CNY -580,344.52, compared to a positive CNY 38,995,368.01 in 2024[33] - The company reported a financial expense of -¥460,055.05, an improvement compared to -¥577,163.25 in the same period of 2024[18] Shareholder Information - Total number of common shareholders at the end of the reporting period is 4,665[10] - The largest shareholder, Tu Conghuan, holds 27,551,280 shares, representing 31.82% of total shares[10] - The company reported no significant changes in shareholder relationships or actions during the reporting period[11] - The company has not engaged in any share lending or borrowing activities during the reporting period[12] Sales and Revenue - Cash received from sales of goods and services in the first three quarters of 2025 was ¥213,838,577.60, an increase of 22.3% compared to ¥174,861,259.71 in the same period of 2024[21] - The total revenue from sales of goods and services in the first three quarters of 2025 is CNY 64,052,171.37, a decline from CNY 97,871,755.90 in 2024, representing a decrease of approximately 34.8%[33] - Operating revenue for the first three quarters of 2025 was CNY 110,148,642.32, a decrease of 6.4% compared to CNY 118,101,720.83 in the same period of 2024[28] Cash and Equivalents - Cash and cash equivalents increased to ¥136,123,684.29 from ¥101,759,328.27[13] - Cash and cash equivalents at the end of the period were CNY 132,138,357.92, up from CNY 62,847,801.92 a year earlier[23] - Total cash and cash equivalents at the end of the third quarter of 2025 amount to CNY 70,658,426.11, an increase from CNY 30,749,809.26 in the same period of 2024[34] Other Financial Metrics - The weighted average return on equity was 0.99%, a decrease of 0.97 percentage points compared to the previous year[4] - The basic earnings per share for the period were ¥0.09, reflecting a 12.50% increase compared to the same period last year[4] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.34, down from ¥0.36 in the previous year[20] - The company incurred a credit impairment loss of CNY 760,891.26 in 2025, contrasting with a gain of CNY 1,305,460.07 in 2024[30] - The company’s sales expenses increased to CNY 21,730,949.59 from CNY 17,899,020.80 year-over-year[28]

Core Viewpoint - Sine Electric has shown a significant stock price increase of 50.71% year-to-date, indicating strong market performance and investor interest [1]. Company Overview - Sine Electric, established on April 3, 2003, and listed on April 29, 2021, is located in Shenzhen, Guangdong Province. The company specializes in the research, production, and sales of motor drive and control systems in the industrial automation sector [1]. - The company's revenue composition includes: General Frequency Inverters (53.48%), Servo Systems (30.21%), Integrated Special Machines (13.31%), and other supplementary products (1.90% and 1.09%) [1]. Stock Performance - As of October 21, Sine Electric's stock price reached 25.38 CNY per share, with a market capitalization of 2.198 billion CNY. The stock has seen a trading volume of 5.4414 million CNY and a turnover rate of 0.25% [1]. - The stock has experienced a recent increase of 2.01% during the trading session, with a 3.05% rise over the last five trading days, and a 3.34% increase over the last 60 days [1]. Financial Performance - For the first half of 2025, Sine Electric reported a revenue of 220 million CNY, reflecting a year-on-year growth of 16.87%. However, the net profit attributable to shareholders decreased by 6.59% to 21.8759 million CNY [2]. - Since its A-share listing, Sine Electric has distributed a total of 83.1657 million CNY in dividends, with 43.9497 million CNY distributed over the past three years [3]. Shareholder Information - As of June 30, Sine Electric had 5,148 shareholders, an increase of 0.65% from the previous period. The average number of circulating shares per shareholder was 16,821, a decrease of 0.64% [2].

Group 1 - The core viewpoint of the news is that Zhengxian Electric has shown fluctuations in its financing activities, with a net financing outflow on September 17, and its financing balance is at a relatively low level compared to the past year [1] - As of September 17, the total financing and securities lending balance of Zhengxian Electric is 37.84 million yuan, which accounts for 1.66% of its circulating market value, indicating a low financing balance compared to the 40th percentile over the past year [1] - The company has not engaged in any securities lending activities on September 17, with both securities lent and sold recorded at zero, suggesting a high level of securities lending balance compared to the 90th percentile over the past year [1] Group 2 - As of June 30, Zhengxian Electric has 5,148 shareholders, an increase of 0.65% from the previous period, while the average circulating shares per person decreased by 0.64% to 16,821 shares [2] - For the first half of 2025, Zhengxian Electric reported operating revenue of 220 million yuan, representing a year-on-year growth of 16.87%, while the net profit attributable to the parent company was 21.88 million yuan, a decrease of 6.59% year-on-year [2] - Since its A-share listing, Zhengxian Electric has distributed a total of 83.17 million yuan in dividends, with 43.95 million yuan distributed over the past three years [3]

广东信达律师事务所 股东会法律意见书 中国深圳福田区益田路 6001 号太平金融大厦 11、12 层 邮政编码：518038 11、12/F.TaiPing Finance Tower, 6001 Yitian Road, Futian District, SHENZHEN, CHINA 电话(Tel.)：（86 755）88265288 传真（Fax.)：（86 755）88265537 电子邮件（Email）：info@sundiallawfirm.com 网址（Website）：www.sundiallawfirm.com 广东信达律师事务所 关于深圳市正弦电气股份有限公司 2025年第三次临时股东会的 法律意见书 信达科会字(2025)第 041 号 致：深圳市正弦电气股份有限公司 广东信达律师事务所（以下简称"信达"）接受深圳市正弦电气股份有限公 司（以下简称"贵公司"或"公司"）委托，指派信达律师出席公司2025年第三 次临时股东会（以下简称"本次股东会"），对本次股东会的合法性进行见证， 并出具本《广东信达律师事务所关于深圳市正弦电气股份有限公司2025年第三次 临时股东会的法律意见书》（下称" ...

证券代码：688395 证券简称：正弦电气 公告编号：2025-047 深圳市正弦电气股份有限公司 2025年第三次临时股东会决议公告 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。 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东会召开的时间：2025 年 9 月 8 日 （二） 股东会召开的地点：深圳市宝安区新安街道兴东社区 70 区润坊路 5 号润 智研发中心 1 栋 8F803 会议室 2、 董事会秘书邹敏女士出席了本次会议；其他高级管理人员列席了本次会议。 二、 议案审议情况 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 44 | | --- | --- | | 普通股股东人数 | 44 | | 2、出席会议的股东所持有的表决权数量 | 53,145,132 | | 普通股股东所持有表决权数量 | 53,145,132 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 6 ...

Core Viewpoint - The company, Zhengxian Electric, announced the completion of the cancellation procedures for part of its fundraising special accounts on the evening of September 1 [2] Group 1 - The announcement was made via a public notice [2] - The cancellation of the fundraising special accounts indicates a potential shift in the company's financial management strategy [2]