Core Insights - The company has achieved record high revenue, but is experiencing a decline in gross margin due to rising raw material costs and operational challenges in its Thai subsidiary [1] Group 1: Revenue and Growth - The company has increased its production of high-end products, including 3D printing materials and electronic slurries, contributing to its historical revenue peak [1] Group 2: Gross Margin Challenges - The decline in gross margin is primarily attributed to the overall increase in raw material prices, particularly copper, which significantly impacts the company's profitability [1] - The Thai subsidiary is currently in a ramp-up phase and operating at a loss, further contributing to the decrease in gross margin [1] Group 3: Future Strategies - The company plans to adjust its product mix and focus on developing high value-added products to gradually improve the declining gross margin situation [1]

Group 1 - The company's growth in the third quarter was primarily driven by increased production of copper powder, tin powder, 3D printing powder, and slurry products [2] - The company indicated that the growth in these products occurred to varying degrees [2] - There is a question regarding the sustainability of this growth moving forward [2]

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、准确性和完整性承担法律责任。 重要内容提示： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 04 日 （星期二） 至 11 月 10 日 （星 期一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目 或通过公司邮箱 yyfm@gripm.com 进行提问。公司将在说明会上对投 资者普遍关注的问题进行回答。 有研粉末新材料股份有限公司（以下简称公司）已于 2025 年 10 月 31 日发布公司 2025 年第三季度报告，为便于广大投资者更全面深 入地了解公司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 11 月 11 日 （星期二） 14:00-15:00 举行 2025 年第三季度业绩 说明会，就投资者关心的问题进行交流。 证券代码：688456 证券简称：有研粉材 公告编号：2025-039 有研粉末新材料股份有限公司 一、 说明会类型 ...

Market Overview - The metal new materials sector experienced a decline of 3.25% on October 31, with AnTai Technology leading the drop [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Stock Performance - Notable gainers in the metal new materials sector included: - Shenzhen New Star (603978) with a closing price of 26.55, up 4.53% on a trading volume of 260,000 shares and a turnover of 706 million yuan [1] - Youyan Powder Materials (688456) closed at 48.70, up 2.79% with a trading volume of 17,500 shares and a turnover of 85.36 million yuan [1] - Major decliners included: - AnTai Technology (000969) closed at 21.24, down 8.65% with a trading volume of 2,030,300 shares and a turnover of 440.3 million yuan [2] - Jinli Permanent Magnet (300748) closed at 39.18, down 6.87% with a trading volume of 792,000 shares and a turnover of 3.137 billion yuan [2] Capital Flow - The metal new materials sector saw a net outflow of 1.629 billion yuan from institutional investors, while retail investors contributed a net inflow of 1.477 billion yuan [2] - The capital flow for specific stocks showed mixed results, with some stocks experiencing significant outflows from institutional and speculative investors [3]

Core Viewpoint - The company reported a significant increase in revenue and net profit for the third quarter of 2025, indicating strong financial performance and growth potential in the market [1] Financial Performance - The total operating revenue for the first three quarters of 2025 reached 2.849 billion yuan, representing a year-on-year growth of 20.8% [1] - The net profit attributable to shareholders of the parent company was 51.6622 million yuan, showing a year-on-year increase of 28% [1] - The basic earnings per share stood at 0.5 yuan [1]

Core Viewpoint - Youyan Powder New Materials Co., Ltd. (referred to as "Youyan Powder Materials") reported a significant increase in revenue and net profit for the first three quarters of 2025, driven primarily by increased product sales [1][2]. Financial Performance - For the first three quarters of 2025, the company achieved revenue of 2.849 billion yuan, representing a year-on-year growth of 20.80% [1]. - The net profit attributable to shareholders for the same period was 52 million yuan, reflecting a year-on-year increase of 28% [1]. - In the third quarter, the company recorded revenue of 1.059 billion yuan, which is a year-on-year growth of 25.30% [1]. - The net profit attributable to shareholders in the third quarter was 16 million yuan, showing a substantial year-on-year increase of 44.92% [1]. Business Segments - The company operates in four main business segments: 1. Copper-based metal powder materials, which hold the largest production and sales volume domestically and the second largest globally, with applications in powder metallurgy, diamond tools, friction materials, catalysts, carbon brushes, and heat dissipation devices [1]. 2. Microelectronics tin-based solder powder materials, which have a domestic market share of approximately 15%, making it the leading player in the domestic market, primarily used in microelectronics packaging and assembly, particularly in consumer electronics [1]. 3. Electronic pastes, which, along with microelectronics tin-based solder powder materials, are key development areas for the company, focusing on future technological breakthroughs [1]. 4. Additive manufacturing powder materials (3D printing powder materials) [1].

有研粉末新材料股份有限公司 市值管理制度 （2025 年 10 月 30 日经公司第三届董事会第四次会议审议通过） 第一章 总则 （二）科学性原则。建立科学合理的市值管理体系，依据科学规律开展市值 管理工作，不得违背市值管理的内在逻辑，研判识别影响公司投资价值的关键性 因素，以确保市值管理的科学与高效。 第一条 为进一步规范有研粉末新材料股份有限公司（以下简称公司）的市 值管理行为，切实推动公司投资价值提升，维护公司投资者特别是中小投资者的 合法权益，增强投资者回报，根据《中华人民共和国公司法》《关于改进和加强 中央企业控股上市公司市值管理工作的若干意见》《上海证券交易所科创板股票 上市规则》《上市公司监管指引第 10 号——市值管理》《有研粉末新材料股份 有限公司章程》（以下简称《公司章程》）及其他法律法规的有关规定，结合公 司实际情况，制定本制度。 第二条 本制度所称市值管理，是指公司以提高公司质量为基础，为提升公 司投资价值和股东回报能力而实施的战略管理行为。 第三条 公司质量是公司投资价值的基础和市值管理的重要抓手。公司牢固 树立回报股东意识，采取措施保护投资者尤其是中小投资者利益，诚实守信、规 范运 ...

全体监事认为公司 2025 年第三季度报告的编制和审议程序符合相关法律 法规及《公司章程》等内部规章制度的规定；公司 2025 年第三季度报告的内容 与格式符合相关规定，公允地反映了公司 2025 年第三季度的财务状况和经营成 果等事项；监事会全体成员对公司 2025 年第三季度报告进行了确认，报告披露 的信息真实、准确、完整，不存在任何虚假记载、误导性陈述、重大遗漏。 证券代码：688456 证券简称：有研粉材 公告编号：2025-038 有研粉末新材料股份有限公司 第三届监事会第四次会议决议公告 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。 一、 监事会会议召开情况 有研粉末新材料股份有限公司（以下简称公司）第三届监事会第四次会议通 知于 2025 年 10 月 20 日以邮件方式发出送达全体监事，会议于 2025 年 10 月 30 日以现场及通讯方式召开。本次会议应出席监事 3 人，实际出席监事 3 人，会议 由监事会主席李联荣先生主持。本次会议的通知、召开及审议程序符合《中华人 民共和国公司法》《有研粉末新材料 ...

有研粉末新材料股份有限公司 2025 年第三季度报告 证券代码：688456 证券简称：有研粉材 有研粉末新材料股份有限公司 2025 年第三季度报告 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。 单位：元 币种：人民币 | | | 本报告期比 | | 年初至报告期 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期增 | 年初至报告期末 | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 1,058,869,032.98 | 25.30 | 2,848,989,923.95 | 20.80 | | 利润总额 | 18,490,257.90 | 42.37 | 56,261,257.10 | 25.32 | | 归属于上市公司股东的 净利润 | 15,902,154.42 | 44.92 | 51,662,198.79 | 28.00 | | 归属于上市公司股东的 扣除非经常性损益的净 利润 ...

Core Insights - The company reported a third-quarter revenue of 1.059 billion yuan, representing a year-on-year increase of 25.30% [1] - The net profit for the third quarter was 15.9022 million yuan, showing a year-on-year growth of 44.92% [1] - For the first three quarters, the total revenue reached 2.849 billion yuan, with a year-on-year increase of 20.80% [1] - The net profit for the first three quarters amounted to 51.6622 million yuan, reflecting a year-on-year growth of 28.00% [1]