Company Summary - KJ Intelligent announced on November 3 that as of October 31, 2025, the company has repurchased approximately 12.05 million shares through the Shanghai Stock Exchange, accounting for about 6.66% of the total share capital of approximately 181 million shares [1] - The highest repurchase price was 15.84 CNY per share, while the lowest was 9.64 CNY per share, with a total expenditure of approximately 137 million CNY [1]

Core Insights - The company reported accelerated revenue growth, strong order reserves, and improved profitability in its Q3 2025 report [1] Revenue Growth and Profitability - The company's Q3 revenue growth reached 47.08%, driven by a significant increase in project delivery and acceptance [2] - The gross margin improved by 3.86 percentage points year-on-year in Q3, with a cumulative gross margin of 20.81% for the first three quarters, up 4.87 percentage points [2] Order Reserves and International Strategy - The company's order backlog reached a record high of 42.91 billion yuan, a year-on-year increase of 70.34%, ensuring robust performance for the next 1-2 years [3] - The smart logistics segment saw a remarkable 122.42% year-on-year increase in order backlog, reaching 24.88 billion yuan, driven by e-commerce peak seasons [3] - International orders amounted to 20.71 billion yuan, up 73.81% year-on-year, with successful project expansions in markets like Poland, UAE, UK, and Singapore [3] R&D Investment and Technological Advancements - The company increased R&D investment to 26.14 million yuan in Q3, a 30.93% year-on-year rise, with total R&D spending for the first three quarters at 79.87 million yuan, accounting for 10.61% of revenue [4] - The company is focusing on high-growth sectors such as new energy and cross-border e-commerce, enhancing its competitive edge through technological advancements [4] - Despite increased R&D and management costs, the company reported a net profit of -59.39 million yuan for the first three quarters, with expectations for a revenue recognition peak in Q4 due to a strong order backlog [4]

Core Insights - KJ Intelligent, established on March 24, 2015, is a leading provider of intelligent logistics and manufacturing solutions in China, listed on the Shanghai Stock Exchange on September 15, 2022, with significant investment value [1] Group 1: Business Performance - For Q3 2025, KJ Intelligent reported revenue of 752 million yuan, ranking 7th in the industry out of 25, surpassing the industry average of 726 million yuan and median of 501 million yuan, but significantly lower than the top competitor's revenue of 3.653 billion yuan [2] - The main business segments include intelligent warehousing systems generating 199 million yuan (40.44% of revenue) and intelligent sorting systems generating 198 million yuan (40.19% of revenue) [2] - The net profit for the same period was -59.39 million yuan, ranking 22nd in the industry, far below the leading competitor's profit of 417 million yuan and the industry average of 44.54 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, KJ Intelligent's debt-to-asset ratio was 77.59%, an increase from 60.90% year-on-year, significantly higher than the industry average of 35.98% [3] - The gross profit margin was 20.81%, an increase from 15.94% year-on-year, but still below the industry average of 33.21% [3] Group 3: Executive Compensation - The chairman and general manager, Long Jinjun, received a salary of 856,700 yuan in 2024, a decrease of 159,700 yuan from 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 13.55% to 9,493, while the average number of circulating A-shares held per account increased by 15.67% to 13,700 [5]

Core Insights - KJ Intelligent (688455.SH) reported its Q3 2025 results on October 30, 2025, highlighting significant institutional investor interest with 10 institutions holding a total of 92.4953 million shares, representing 51.14% of the total share capital [1] Institutional Holdings - The top ten institutional investors include Qingdao Yijie Technology Equipment Co., Ltd., Shenzhen SF Investment Co., Ltd., and several others, collectively holding 51.14% of the shares, which is an increase of 0.18 percentage points from the previous quarter [1] Public Fund Participation - In this reporting period, 39 public funds were disclosed, including Huashang Credit Enhanced Bond A, Nuon Multi-Strategy Mixed A, and others, indicating a stable interest in KJ Intelligent from public fund managers [1]

国泰海通证券股份有限公司关于科捷智能科技股份有限公司 使用自有资金支付募投项目所需资金并以募集资金等额置换的核查意见 一、募集资金基本情况 根据中国证券监督管理委员会于 2022 年 6 月 15 日签发的证监许可字[2022]1257 号文《关于同意科捷智能科技股份有限公司首次公开发行股票注册的批复》，科捷 智能科技股份有限公司于 2022 年 9 月向社会公众发行人民币普通股 45,212,292 股， 每股发行价格为人民币 21.88 元，募集资金总额为 989,244,948.96 元，扣除发行费用 人民币 97,873,852.89 元 （ 不含增值税 ） 后，实际募集资金净额为人民币 891,371,096.07 元（以下简称"募集资金"），上述资金于 2022 年 9 月 9 日到位，业 经普华永道中天会计师事务所（特殊普通合伙）予以验证并出具普华永道中天验字 （2022）第 0778 号验资报告。 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐机构")作为科捷 智能科技股份有限公司（以下简称"科捷智能"或"公司")首次公开发行股票并在 科创板上市项目的保荐机构，根据《证券发行上市保荐业 ...

证券代码：688455 证券简称：科捷智能 公告编号：2025-061 科捷智能科技股份有限公司 关于公司使用自有资金支付募投项目所需资金并以 募集资金等额置换的公告 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。 科捷智能科技股份有限公司（以下简称"公司"）于 2025 年 10 月 29 日召 开了第二届董事会第十五次会议，审议通过了《关于公司使用自有资金支付募投 项目所需资金并以募集资金等额置换的议案》，同意公司使用自有资金支付募投 项目所需资金并以募集资金等额置换。保荐机构国泰海通证券股份有限公司对本 事项出具了无异议的核查意见，该事项无需提交公司股东会审议。现将相关情况 公告如下： 一、募集资金的基本情况 根据中国证券监督管理委员会于 2022 年 6 月 15 日签发的证监许可字 [2022]1257 号文《关于同意科捷智能科技股份有限公司首次公开发行股票注册的 批复》，科捷智能科技股份有限公司于 2022 年 9 月向社会公众发行人民币普通 股45,212,292股，每股发行价格为人民币21.88元，募集资金 ...

Financial Performance - The company's revenue for the third quarter reached ¥260,555,448.15, representing a year-on-year increase of 47.08%[3] - The total profit for the period was -¥31,798,051.35, with a net profit attributable to shareholders of -¥22,113,913.40[3] - Total operating revenue for the first three quarters of 2025 reached ¥752.41 million, an increase of 14.3% compared to ¥658.24 million in the same period of 2024[19] - Net profit for the first three quarters of 2025 was a loss of ¥59.39 million, compared to a loss of ¥56.26 million in the same period of 2024, indicating a deterioration in profitability[20] - The company's total equity attributable to shareholders decreased to ¥867.19 million from ¥1.04 billion, reflecting a decline of 16.7%[19] Research and Development - Research and development expenses amounted to ¥26,138,713.05, an increase of 30.93% year-on-year, accounting for 10.03% of total revenue[3] - The company reported a significant increase in research and development expenses, totaling ¥79.87 million in 2025, compared to ¥69.50 million in 2024, reflecting a 14.9% increase[20] - The company is focusing on high-growth sectors such as new energy, tires, and cross-border e-commerce, driving its R&D investments[5] Cash Flow and Liquidity - The net cash flow from operating activities was -¥228,182,080.64 for the year-to-date period[3] - Cash flow from operating activities for the first three quarters of 2025 was ¥1.32 billion, an increase from ¥1.04 billion in 2024, representing a growth of 28%[23] - The net cash flow from operating activities was -228,182,080.64, compared to -175,697,662.05 in the previous period, indicating a decline in operational cash flow[24] - The total cash flow net increase was -336,888,817.50, compared to -228,969,502.26 in the previous period, indicating a worsening cash position[26] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,870,165,126.36, reflecting a 32.94% increase compared to the end of the previous year[5] - Total current assets as of September 30, 2025, amount to RMB 3,219,303,375.01, an increase from RMB 2,345,496,308.02 at the end of 2024[15] - Total liabilities as of September 30, 2025, are RMB 2,829,570,599.22, compared to RMB 1,811,860,030.91 at the end of 2024[16] - The total liabilities of the company amounted to ¥3.00 billion, compared to ¥1.87 billion in the previous year, indicating a substantial increase in leverage[19] Shareholder Information - Total number of common shareholders at the end of the reporting period is 9,493[12] - The largest shareholder, Qingdao Yijie Technology Equipment Co., Ltd., holds 31,000,000 shares, accounting for 17.14% of total shares[12] - The company has no preferred shareholders as of the reporting period[12] Operational Costs - Total operating costs for the first three quarters of 2025 were ¥844.26 million, up 11.4% from ¥757.89 million in 2024[19] - Cash outflows for operating activities totaled 1,667,143,295.73, up from 1,303,830,890.93, indicating increased operational expenses[24] - The company’s cash outflow for employee payments was 207,103,497.44, an increase from 182,405,173.63, reflecting higher labor costs[24] Tax and Earnings - The company recorded a tax expense of ¥23.50 million for the first three quarters of 2025, compared to ¥21.25 million in 2024, which is an increase of 10.6%[20] - The basic and diluted earnings per share for the first three quarters of 2025 were both -¥0.37, compared to -¥0.32 in 2024, indicating a worsening in earnings per share[21] Order Backlog - The company reported a backlog of orders totaling ¥4,291,000,000, a 70.34% increase year-on-year, with overseas orders at ¥2,071,000,000, up 73.81%[6] Profitability Metrics - The gross profit margin improved by 3.86 percentage points compared to the same period last year, indicating enhanced profitability in core operations[5] - The weighted average return on net assets decreased by 1.25 percentage points to -2.52% due to a reduction in net profit attributable to shareholders[3] Investment Activities - Total cash inflow from investment activities was 355,606,084.13, significantly lower than 1,795,529,500.04 in the previous period, reflecting reduced investment returns[24] - Cash outflows for investment activities were 569,972,115.04, compared to 1,800,175,976.60 in the previous period, showing a decrease in capital expenditures[24] Financing Activities - The net cash flow from financing activities was 104,555,233.87, a recovery from -52,420,576.40 in the previous period, showing improved financing conditions[24] - Cash inflows from financing activities increased to 471,898,883.82 from 231,657,000.00, reflecting a stronger borrowing position[24]

Group 1 - The core business of the company includes intelligent logistics and intelligent manufacturing solutions, with revenue composition as follows: intelligent warehousing system 40.44%, intelligent sorting system 40.19%, intelligent conveying system 6.76%, intelligent factory system 5.22%, others 3.79%, core equipment 3.57%, and information systems and solutions 0.03% [2] - As of June 30, the number of shareholders of the company is 11,000, an increase of 7.10% compared to the previous period, while the average circulating shares per person decreased by 6.63% to 11,824 shares [2] - For the first half of 2025, the company achieved operating revenue of 492 million yuan, a year-on-year increase of 2.24%, while the net profit attributable to the parent company was -37.28 million yuan, a year-on-year increase of 12.08% [2] Group 2 - The company has distributed a total of 36.17 million yuan in dividends since its A-share listing [3] Group 3 - On October 13, the company's stock price remained unchanged at 0.00%, with a trading volume of 30.29 million yuan [1] - On the same day, the financing buy-in amount was 2.21 million yuan, while the financing repayment was 3.27 million yuan, resulting in a net financing buy-in of -1.06 million yuan [1] - The total balance of margin trading as of October 13 is 49.35 million yuan, accounting for 2.55% of the circulating market value, which is above the 70th percentile level over the past year, indicating a high level [1]

Company Overview - KJ Intelligent Technology Co., Ltd. is located in Qingdao, Shandong Province, established on March 24, 2015, and listed on September 15, 2022. The company specializes in providing intelligent logistics and manufacturing solutions, focusing on the design, research and development, production, sales, and service of intelligent logistics and manufacturing systems and products [2]. Business Performance - For the period from January to June 2025, KJ Intelligent achieved operating revenue of 492 million yuan, representing a year-on-year growth of 2.24%. The net profit attributable to the parent company was -37.28 million yuan, showing a year-on-year increase of 12.08% [2]. - The revenue composition includes: intelligent warehousing systems (40.44%), intelligent sorting systems (40.19%), intelligent conveying systems (6.76%), intelligent factory systems (5.22%), other (supplementary) (3.79%), core equipment (3.57%), and information systems and solutions (0.03%) [2]. Shareholder Information - As of June 30, KJ Intelligent had 11,000 shareholders, an increase of 7.10% compared to the previous period. The average circulating shares per person were 11,824 shares, a decrease of 6.63% [2]. Financing and Trading Activity - On October 10, KJ Intelligent's stock price fell by 0.47%, with a trading volume of 31.21 million yuan. The financing buy amount was 2.24 million yuan, while the financing repayment was 2.20 million yuan, resulting in a net financing buy of 37,000 yuan. The total financing and securities balance reached 50.41 million yuan, accounting for 2.60% of the circulating market value, which is above the 80th percentile level over the past year [1]. - In terms of securities lending, there were no shares repaid or sold on October 10, with the securities lending balance also at 0.00 shares, exceeding the 90th percentile level over the past year [1]. Dividend Information - KJ Intelligent has distributed a total of 36.17 million yuan in dividends since its A-share listing [3].

Core Viewpoint - 科捷智能科技股份有限公司 focuses on automation solutions in logistics and manufacturing, aiming to become a leader in the global intelligent equipment sector through its innovative products and strategic initiatives [1][6]. Group 1: Product Innovation - The company has developed key products such as cross-belt sorters and stackers, which significantly enhance sorting efficiency to over 20,000 items per hour with an error rate below 0.01% [2][3]. - The stacker, a core component of intelligent warehousing, has achieved a height of 40 meters, overcoming welding deformation challenges to improve storage capacity by 50% in the same area [4]. - The introduction of a high-speed wheel sorter has pushed sorting efficiency to 7200 pieces per hour, addressing traditional limitations in manual sorting [2][3]. Group 2: Technological Advancements - The company has implemented real-time data interaction between PLCs to reduce sorting errors, achieving a packet loss rate of less than 0.01% [3]. - A specialized team improved the design of control cabinets, reducing wiring errors from 5% to below 0.1%, thus tripling production efficiency [5]. - The integration of WMS and WCS systems has enhanced warehouse space utilization by 30% and increased production efficiency by 25% [5]. Group 3: Market Strategy - The company is pursuing a modular strategy to enhance product customization and reduce delivery times by 30% compared to industry averages [6]. - Digital transformation initiatives have led to real-time monitoring of production data and a reduction in energy consumption by 18% [6]. - The international strategy has resulted in over 1000 integrated projects delivered across more than 20 countries, showcasing the company's global reach [7]. Group 4: Industry Impact - The automation solutions provided by the company address the pain points in the e-commerce and logistics sectors, particularly during peak periods like "618" and "Double 11" [2]. - The intelligent equipment developed by the company is becoming essential for many enterprises undergoing digital transformation in manufacturing [3][4].