Market Overview - As of 10:29 AM today, the Shanghai Composite Index is at 4006.65 points, slightly below the five-day moving average with a change of -0.30% [1] - The total trading volume of A-shares today is 915.99 billion [1] Stock Performance - A total of 527 A-shares have surpassed the five-day moving average, with notable stocks showing significant deviation rates including: - Delong Holdings (德龙汇能) at 8.11% - Victory Shares (胜利股份) at 7.83% - Agricultural Products (农产品) at 7.65% [1] - Other stocks with smaller deviation rates that have just crossed the five-day moving average include: - Koyuan Wisdom (科远智慧) - Hongyuan Electronics (鸿远电子) - Hitec High-tech (海特高新) [1] Notable Stocks with Deviation Rates - The following stocks have the highest deviation rates from their five-day moving averages: - Delong Holdings (德龙汇能): 8.11% deviation, latest price 10.96 yuan, five-day moving average 10.14 yuan [1] - Victory Shares (胜利股份): 7.83% deviation, latest price 4.16 yuan, five-day moving average 3.86 yuan [1] - Agricultural Products (农产品): 7.65% deviation, latest price 9.23 yuan, five-day moving average 8.57 yuan [1] - Additional stocks with notable performance include: - Guodian Network (广电网络): 7.42% deviation - Wanlima (万里马): 6.96% deviation [1]

Market Overview - As of 10:30 AM today, the Shanghai Composite Index stands at 4004.76 points, above the six-month moving average, with a change of -0.34% [1] - The total trading volume of A-shares today is 9250.17 billion yuan [1] Stocks Breaking the Six-Month Moving Average - A total of 92 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - Visionox (维信诺) with a deviation rate of 9.39% and a price increase of 9.98% [1] - Magv Technology (磁谷科技) with a deviation rate of 8.21% and a price increase of 11.26% [1] - Tongxiang Technology (同享科技) with a deviation rate of 7.15% and a price increase of 8.45% [1] Detailed Stock Performance - The following table summarizes the performance of selected stocks that have recently crossed the six-month moving average: | Stock Code | Stock Name | Price Change (%) | Turnover Rate (%) | Six-Month Average (yuan) | Latest Price (yuan) | Deviation Rate (%) | | --- | --- | --- | --- | --- | --- | --- | | 002387 | Visionox | 9.98 | 0.49 | 9.37 | 10.25 | 9.39 | | 688448 | Magv Technology | 11.26 | 14.44 | 38.45 | 41.61 | 8.21 | | 920167 | Tongxiang Technology | 8.45 | 11.64 | 20.11 | 21.55 | 7.15 | | 301611 | Kema Technology | 6.36 | 8.74 | 54.58 | 57.82 | 5.94 | | 300403 | Hanyu Group | 7.75 | 15.48 | 15.22 | 15.85 | 4.11 | | 300937 | Yiyigou | 3.88 | 5.21 | 28.45 | 29.45 | 3.52 | | 002200 | *ST Jiaotou | 3.94 | 1.63 | 7.65 | 7.92 | 3.49 | | 300198 | ST Nachuan | 4.62 | 2.60 | 2.41 | 2.49 | 3.28 | | 605086 | Longgao Shares | 3.48 | 2.65 | 26.19 | 27.03 | 3.21 | | 300152 | ST Xindongli | 5.18 | 4.30 | 2.56 | 2.64 | 2.99 | | 603106 | Hengyin Technology | 3.10 | 2.60 | 10.35 | 10.63 | 2.71 | | 002085 | Wanfeng Aowei | 3.18 | 2.36 | 16.77 | 17.21 | 2.65 | | 301636 | Zerun New Energy | 4.56 | 15.07 | 55.76 | 57.09 | 2.38 | | 300020 | ST Yinjian | 2.34 | 1.42 | 3.86 | 3.94 | 2.01 | | 300880 | Jianan Intelligent | 6.76 | 5.37 | 20.13 | 20.52 | 1.95 | | 300461 | Tianzhong Precision | 1.79 | 1.13 | 20.12 | 20.47 | 1.72 | | 000711 | ST Jinglan | 1.69 | 1.23 | 1.77 | 1.80 | 1.64 | | 920029 | Kaifa Technology | 3.44 | 3.90 | 95.65 | 97.15 | 1.57 | | 300345 | Huamin Shares | 3.42 | 8.29 | 7.74 | 7.86 | 1.56 | | 300523 | Chanan Technology | 3.00 | 0.77 | 22.96 | 23.31 | 1.52 | | 002721 | Jinyi Culture | 5.80 | 4.48 | 3.60 | 3.65 | 1.50 | | 600538 | Guofa Shares | 1.87 | 2.86 | 5.89 | 5.98 | 1.46 | | 001696 | Zongshen Power | 4.37 | 4.88 | 23.56 | 23.89 | 1.41 | | 600800 | Bohai Chemical | 1.72 | 0.80 | 4.09 | 4.15 | 1.35 | | 301209 | United Chemical | 3.74 | 1.59 | 94.06 | 95.23 | 1.25 | | 300218 | Anli Shares | 1.47 | 2.26 | 17.73 | 17.94 | 1.19 | | 002457 | Qinglong Pipe | 1.27 | 3.00 | 11.86 | 12.00 | 1.15 | | 603366 | Rising East | 1.93 | 2.03 | 9.93 | 10.04 | 1.15 | | 001914 | China Merchants Jiyu | 1.95 | 0.52 | 11.91 | 12.04 | 1.12 | | 688628 | Youlide | 1.34 | 0.33 | 34.41 | 34.79 | 1.10 | [1][2]

Core Viewpoint - The company, Maglev Technology, is focusing on the development and manufacturing of magnetic levitation bearings, which are essential for the research and production of magnetic levitation motors, particularly for axial flux motors [1] Group 1: Technology and Innovation - The company is committed to continuous product and technology innovation [1] - Future efforts will include accelerating the market penetration of various industry clients [1] Group 2: Product Development - The company aims to prioritize the market development of magnetic levitation compressors, including magnetic levitation air compressors and magnetic levitation chillers [1] - There is a strategic focus on establishing a diversified product layout in the field of magnetic levitation fluid machinery [1]

Core Viewpoint - The company reported stable revenue growth for its magnetic levitation air compressors and magnetic levitation chillers in the first three quarters compared to the same period last year [1] Group 1 - The revenue from magnetic levitation air compressors has shown stable growth year-on-year [1] - The revenue from magnetic levitation chillers has also maintained stable growth compared to the previous year [1] - The magnetic levitation chillers are currently undergoing validation in relevant client data centers [1]

Core Insights - The company, Maglev Technology, is a leading player in the domestic magnetic suspension fluid machinery sector, focusing on R&D of magnetic suspension products and possessing significant technological barriers [1] Group 1: Business Performance - For Q3 2025, Maglev Technology reported revenue of 239 million yuan, ranking 47th out of 51 companies in the industry, significantly lower than the top performer, Star Technology, which had revenue of 11.156 billion yuan [2] - The net profit for the same period was 8.5775 million yuan, placing the company 40th in the industry, again far behind Star Technology's 2.211 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 28.92%, lower than the previous year's 30.23% and below the industry average of 38.24%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 30.84%, down from 36.70% year-on-year but still above the industry average of 26.36%, suggesting a competitive edge in profitability [3] Group 3: Leadership - The chairman, Wu Lihua, aged 62, has been in position since December 2019, and the general manager, Dong Jiyong, aged 49, holds a master's degree and has a senior engineering title [4] - In 2024, the chairman's salary was 1.0858 million yuan, reflecting a slight increase from 1.0451 million yuan in 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 11.27% to 6,192, while the average number of circulating A-shares held per shareholder decreased by 10.13% to 7,747.46 [5] - New major shareholders include Agricultural Bank of China New Energy Mixed A and Huaxia Leading Stock, while some previous major shareholders exited the top ten list [5]

Core Insights - Maggu Technology (688448.SH) released its Q3 2025 report on October 30, 2025, indicating a total of 4 institutional investors holding shares, amounting to 8.3033 million shares, which represents 11.59% of the total share capital [1] - The institutional holding ratio decreased by 4.60 percentage points compared to the previous quarter [1] Institutional Investors - The institutional investors include Nanjing Baolifeng Venture Capital Partnership, Industrial and Commercial Bank of China - Agricultural Bank of China New Energy Theme Flexible Allocation Mixed Securities Investment Fund, Industrial and Commercial Bank of China - Huaxia Leading Stock Fund, and J.P. Morgan Securities PLC [1] - The total institutional holding ratio is now at 11.59% [1] Public Funds - Two new public funds were disclosed this quarter, namely Agricultural Bank of China New Energy Mixed A and Huaxia Leading Stock [1] - A total of 46 public funds were not disclosed this quarter compared to the previous quarter, including Jin Xin Steady Strategy Mixed A, Nuoan Multi-Strategy Mixed A, CITIC Construction Investment Rotation Mixed A, CITIC Construction Investment Selected Mixed A, and Jianxin Flexible Allocation Mixed A [1]

Group 1 - The core viewpoint of the article highlights that Mag Valley Technology (688448.SH) reported a decline in both revenue and net profit for the first three quarters of 2025 compared to the previous year [1] Group 2 - The total operating revenue for the first three quarters of 2025 was 239 million yuan, representing a year-on-year decrease of 6.76% [1] - The net profit attributable to shareholders of the parent company was 8.93 million yuan, showing a significant year-on-year decline of 56.18% [1] - The basic earnings per share were reported at 0.12 yuan [1]

证券代码：688448 证券简称：磁谷科技 公告编号：2025-040 南京磁谷科技股份有限公司 第二届董事会第二十五次会议决议公告 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、董事会会议召开情况 根据《上海证券交易所科创板股票上市规则》《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》等法律法规的规定，公司编制了《2025 年第三季度报告》。经审议，董事会认为：公司 2025 年第三季度报告真实、公允 地反映了公司 2025 年 1-9 月的财务状况、经营成果和现金流量。 具体内容详见公司于同日在上海证券交易所网站（www.sse.com.cn）上披露 的《南京磁谷科技股份有限公司 2025 年第三季度报告》。 本议案已经公司第二届董事会审计委员会第十四次会议审议通过，并同意提 交董事会审议。 表决情况：同意 9 票，反对 0 票，弃权 0 票。议案审议通过。 本议案经董事会审议通过后，无需提交公司股东大会审议。 南京磁谷科技股份有限公司（以下简称"公司"）第二届董事会第二十五次会 议通知于 2 ...

Financial Performance - The company's operating revenue for the third quarter was ¥87,128,989.75, a decrease of 17.94% compared to the same period last year[4]. - The total profit for the third quarter was ¥2,963,104.90, down 75.40% year-on-year[4]. - The net profit attributable to shareholders was ¥4,445,704.84, reflecting a decline of 63.13% compared to the previous year[4]. - The net profit after deducting non-recurring gains and losses was ¥3,675,315.97, a decrease of 66.94% year-on-year[4]. - The basic earnings per share for the third quarter was ¥0.06, down 64.71% from the same period last year[5]. - Net profit for the first three quarters of 2025 was ¥8,577,528.63, a significant decline of 57.5% from ¥20,168,321.04 in 2024[20]. - Basic earnings per share for the first three quarters of 2025 was ¥0.12, down from ¥0.29 in the same period of 2024[21]. Cash Flow and Liquidity - The cash flow from operating activities showed a net outflow of ¥29,679,915.15 year-to-date, indicating challenges in cash management[4]. - Cash flow from operating activities for the first three quarters of 2025 was negative at -¥29,679,915.15, compared to -¥7,756,490.25 in 2024, indicating worsening cash flow conditions[22]. - Cash received from sales of goods and services was ¥193,048,493.70, a decrease of 14.2% from ¥225,020,021.41 in 2024[22]. - The ending balance of cash and cash equivalents was $389.12 million, down from $473.46 million in the previous period[23]. - The beginning balance of cash and cash equivalents was $502.46 million, indicating a decrease in liquidity[23]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,427,364,073.97, a slight decrease of 0.50% from the end of the previous year[5]. - The company's total current assets decreased from 1,092,095,892.24 to 1,005,898,195.00, a decline of approximately 7.93%[15][16]. - Total liabilities as of the reporting date were ¥412,842,239.70, slightly up from ¥409,208,411.59 in the previous year[17]. - Total equity attributable to shareholders was ¥1,011,696,649.81, a decrease from ¥1,024,132,445.61 in 2024, indicating a decline in shareholder value[17]. Research and Development - Research and development expenses totaled ¥13,023,155.11, a decrease of 2.19% year-on-year, accounting for 14.95% of operating revenue[5]. - Research and development expenses for the first three quarters of 2025 were ¥33,883,837.68, down from ¥36,822,923.74 in 2024, reflecting a potential shift in R&D focus[19]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 6,192[12]. - The largest shareholder, Wu Lihua, holds 12,510,000 shares, representing 17.46% of total shares[12]. Investment Activities - Net cash flow from investment activities was -$63.06 million, compared to -$28.80 million in the previous period, indicating a decline in investment performance[23]. - Total cash inflow from investment activities was $199.82 million, down from $626.62 million year-over-year[23]. - Cash outflow from investment activities totaled $262.88 million, a decrease from $655.42 million in the prior period[23]. Financing Activities - Net cash flow from financing activities was -$20.26 million, contrasting with a positive $6.74 million in the previous period[23]. - Total cash inflow from financing activities was $2.00 million, significantly lower than $7.38 million year-over-year[23]. - Cash outflow from financing activities amounted to $22.26 million, compared to $0.63 million in the prior period[23]. Other Information - The company experienced a significant reduction in government subsidies received compared to the previous year, impacting overall profitability[10]. - The company reported a credit impairment loss of ¥3,551,059.27 in 2025, contrasting with a gain of -¥3,572,084.20 in 2024, highlighting increased credit risk[20]. - The company will not apply new accounting standards starting from 2025[24].

证券代码：688448 证券简称：磁谷科技 公告编号：2025-041 第二届监事会第二十一次会议决议公告 南京磁谷科技股份有限公司 本公司监事会及全体监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。 表决结果：同意 3 票，反对 0 票，弃权 0 票。议案审议通过。 特此公告。 南京磁谷科技股份有限公司监事会 2025 年 10 月 30 日 二、监事会会议审议情况 （一）审议通过《关于公司<2025 年第三季度报告>的议案》 经审议，监事会认为：公司 2025 年第三季度报告编制和审议程序符合法 律法规、《公司章程》和公司内部管理制度的各项规定。报告内容真实、准确、 完整，不存在任何虚假记载、误导性陈述或者重大遗漏，客观地反映了公司 2025 年 1-9 月财务及经营状况。 具体内容详见公司于同日在上海证券交易所网站（www.sse.com.cn）上披 露的《南京磁谷科技股份有限公司 2025 年第三季度报告》。 一、监事会会议召开情况 南京磁谷科技股份有限公司（以下简称"公司"）第二届监事会第二十一次 会议通知于 2025 年 10 月 ...