Group 1 - Company Jiulian Technology (SH 688609) reported a revenue of approximately 1.761 billion yuan for the first three quarters of 2025, representing a year-on-year decrease of 6.28% [1] - The net profit attributable to shareholders of the listed company was a loss of approximately 120 million yuan [1] - As of the report date, Jiulian Technology's market capitalization was 4.8 billion yuan [2] Group 2 - The A-share market has surpassed 4000 points, marking a significant resurgence after a decade of stagnation, with the technology sector leading the market's transformation [2] - A new "slow bull" market pattern is emerging, indicating a shift in market dynamics [2]

Group 1 - The core point of the article is that Jiulian Technology (SH 688609) held its sixth board meeting on October 27, 2025, to review its Q3 2025 report and other documents [1] - For the year 2024, Jiulian Technology's revenue composition shows that 97.75% comes from the manufacturing of computers, communications, and other electronic intelligent devices, while other businesses account for 2.25% [1] - As of the report, Jiulian Technology has a market capitalization of 4.8 billion yuan [1] Group 2 - The A-share market has surpassed 4000 points, marking a significant resurgence after ten years of stagnation, with technology leading the market's transformation into a "slow bull" new pattern [1]

Core Insights - Jiulian Technology (688609.SH) reported a revenue of 659 million yuan for Q3 2025, representing a year-on-year increase of 21.65% [1] - The net profit attributable to shareholders of the listed company was 3.2856 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 3.1287 million yuan [1]

广东九联科技股份有限公司 第六届董事会第六次会议决议公告 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 广东九联科技股份有限公司（以下简称"公司"）第六届董事会第六次会议 （以下简称"本次会议"）于 2025 年 10 月 27 日以现场会议结合通讯表决方式 召开，由董事长詹启军召集并主持，本次会议应出席董事 7 名，实际出席董事 7 名，本次会议的召集、召开符合《中华人民共和国公司法》等有关法律、法规、 规则以及《广东九联科技股份有限公司章程》的有关规定。 二、董事会会议审议情况 证券代码：688609 证券简称：九联科技 公告编号：2025-055 表决结果：7 票赞成，0 票反对，0 票弃权，0 票回避；获全体董事一致通过。 本议案已经董事会审计委员会审议通过。 具 体 内 容 详 见 2025 年 10 月 29 日 刊 载 于 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）及指定媒体披露的《广东九联科技股份有限公司 2025 年第 三季度报告》。 特此公告。 广东九 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥659,394,577.25, representing a year-on-year increase of 21.65%[4] - The total profit for the period was a loss of ¥1,697,924.18, with a year-to-date loss of ¥145,068,029.49[4] - Net profit attributable to shareholders was ¥3,285,581.53 for the quarter, while the year-to-date figure showed a loss of ¥119,864,740.19[4] - Total operating revenue for the first three quarters of 2025 was CNY 1,760,714,103.20, a decrease of 6.3% compared to CNY 1,878,642,322.74 in the same period of 2024[19] - Operating profit for the first three quarters of 2025 was a loss of CNY 144,320,575.29, compared to a loss of CNY 133,446,736.29 in 2024, indicating a worsening of 8.4%[20] - Net profit for the first three quarters of 2025 was a loss of CNY 126,686,606.65, compared to a loss of CNY 112,835,521.43 in 2024, representing an increase in loss of 12.3%[21] - The company reported a basic and diluted earnings per share of CNY -0.2417 for the first three quarters of 2025, compared to CNY -0.2128 in 2024[21] Cash Flow - The cash flow from operating activities for the year-to-date increased by 117.30%, amounting to ¥278,698,889.50[4] - Operating cash inflow from sales increased to approximately $1.94 billion, up from $1.78 billion, representing a growth of about 9.4% year-over-year[24] - Net cash flow from operating activities reached approximately $278.7 million, compared to $128.3 million in the previous period, indicating a significant increase of 117.5%[24] - Cash received from tax refunds increased significantly to approximately $12.6 million from $2.0 million, a growth of 522.5%[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,263,393,770.16, reflecting a decrease of 11.65% compared to the end of the previous year[5] - Total liabilities as of the reporting date were CNY 2,398,831,665.24, down from CNY 2,784,722,779.59 in the previous year, a decrease of 13.8%[18] - Total equity attributable to shareholders was CNY 888,744,432.43, a decrease from CNY 926,408,833.33, reflecting a decline of 4.1%[18] - Current assets decreased to CNY 1,746,781,520.43 from CNY 2,380,113,481.74, reflecting a decline of approximately 26.6%[16] - Cash and cash equivalents dropped to CNY 167,857,381.18 from CNY 270,827,774.12, a decrease of about 38.0%[16] - Accounts receivable decreased to CNY 778,322,950.75 from CNY 997,367,010.72, representing a decline of approximately 21.9%[16] - Inventory decreased to CNY 460,272,522.88 from CNY 505,954,248.17, a reduction of about 9.0%[16] - Total current liabilities decreased to CNY 2,028,109,397.73 from CNY 2,391,712,484.15, a decline of approximately 15.2%[17] - Short-term borrowings decreased to CNY 588,232,111.13 from CNY 908,587,379.76, a reduction of about 35.2%[17] - Long-term borrowings increased slightly to CNY 329,100,246.83 from CNY 322,497,408.17, an increase of approximately 2.0%[17] Research and Development - Research and development expenses totaled ¥41,875,692.27, accounting for 6.35% of operating revenue, a decrease of 1.73 percentage points year-on-year[5] - Research and development expenses for the first three quarters of 2025 were CNY 121,430,656.41, a slight decrease from CNY 131,130,639.37 in 2024, indicating a reduction of 7.0%[20] Other Financial Aspects - The company reported a significant reduction in credit impairment losses due to increased collection efforts on receivables, contributing to improved net profit[9] - The company recognized a government subsidy of ¥282,019.43 during the quarter, contributing positively to the financial results[7] - The company experienced a net loss from credit impairment of CNY 7,074,339.76, compared to a gain of CNY 23,492,991.95 in the previous year, showing a significant deterioration[20] - Other comprehensive income after tax for the first three quarters of 2025 was CNY 50,405.37, up from CNY 16,425.12 in 2024, indicating an increase of 207.5%[21] Company Developments - The company has no significant new product launches or technological developments reported in the current period[14] - There are no significant mergers or acquisitions reported during the current period[14]

北京市金杜（广州）律师事务所 关于广东九联科技股份有限公司 2025 年第二次临时股东会 之法律意见书 致：广东九联科技股份有限公司 北京市金杜（广州）律师事务所（以下简称本所）接受广东九联科技股份有限 公司（以下简称公司）委托，根据《中华人民共和国证券法》（以下简称《证券法》）、 《中华人民共和国公司法》（以下简称《公司法》）、中国证券监督管理委员会《上 市公司股东会规则》（以下简称《股东会规则》）等中华人民共和国境内（以下简 称中国境内，为本法律意见书之目的，不包括中国香港特别行政区、中国澳门特别 行政区和中国台湾省）现行有效的法律、行政法规、规章和规范性文件和现行有效 的公司章程有关规定，指派本所律师出席了公司于2025年10月27日召开的公司 2025年第二次临时股东会（以下简称本次股东会），并就本次股东会相关事项出 具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 1. 公司现行有效的《广东九联科技股份有限公司章程》（以下简称《公司章 程》）； 2. 公司现行有效的《广东九联科技股份有限公司股东会议事规则》； 3. 公司2025年10月11日刊登于《中国证券报》 ...

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 10 月 27 日 2025年第二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： 证券代码：688609 证券简称：九联科技 公告编号：2025-054 广东九联科技股份有限公司 （二） 股东会召开的地点：惠州市惠澳大道惠南高新科技产业园惠泰路 5 号广 东九联科技股份有限公司 5 楼会议室 （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 | 158 | | --- | --- | | 普通股股东人数 | 158 | | 2、出席会议的股东所持有的表决权数量 | 149,100,239 | | 普通股股东所持有表决权数量 | 149,100,239 | | 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 | 29.8200 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例 ...

Market Overview - The black home appliance sector increased by 1.37% on October 27, with Tongzhou Electronics leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Stock Performance - Key stocks in the black home appliance sector showed varied performance: - Tongzhou Electronics (002052) closed at 16.37, up 3.61% with a trading volume of 453,300 shares and a turnover of 737 million yuan - Sichuan Changhong (600839) closed at 10.39, up 3.28% with a trading volume of 2,249,600 shares and a turnover of 2.323 billion yuan - Sichuan Jiuzhou (000801) closed at 15.80, up 1.87% with a trading volume of 171,400 shares and a turnover of 270 million yuan - Hisense Visual (600060) closed at 24.67, up 0.98% with a trading volume of 150,600 shares and a turnover of 372 million yuan - XGIMI Technology (688696) closed at 106.90, up 0.85% with a trading volume of 8,412 shares and a turnover of 89.9062 million yuan - Other stocks like ST Gauss (002848) and Skyworth Digital (000810) saw declines of 2.45% and 3.56% respectively [1] Capital Flow - The black home appliance sector experienced a net inflow of 243 million yuan from institutional investors, while retail investors saw a net outflow of 61.9178 million yuan [1] - Detailed capital flow for key stocks: - Sichuan Changhong had a net inflow of 22.6 million yuan from institutional investors but a net outflow of 77.5479 million yuan from retail investors [2] - Tongzhou Electronics saw a net inflow of 87.8210 million yuan from institutional investors but a net outflow of 61.6663 million yuan from retail investors [2] - XGIMI Technology had a net inflow of 11.9228 million yuan from institutional investors but a net outflow of 12.1622 million yuan from retail investors [2] - Skyworth Digital experienced a significant net outflow of 57.3983 million yuan from retail investors [2]

广东九联科技股份有限公司 关于5%以上股东及董监高、核心技术人员减持股份结果公告 本公司董事会、全体董事及相关股东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。 证券代码：688609 证券简称：九联科技 公告编号：2025-053 ● 减持计划的内容及实施结果情况 公司于2025年7月5日在上海证券交易所（www.sse.com.cn）披露了《广东九联科技股份有限公司关于 5%以上股东及董监高、核心技术人员减持股份计划公告》（公告编号：2025-037），公司股东胡嘉惠 女士、许华先生、凌俊先生拟通过集中竞价和大宗交易的方式，减持其所持有公司的股份分别不超过 6,000,000股、不超过4,000,000股、不超过2,500,000股；股东梁文娟女士、刘文燕先生、郑广平先生拟通 过间接持股平台海纳百川以集中竞价交易方式减持其所持有的公司股份合计不超过430,625股；股东邱 星明先生、何云华先生拟通过间接持股平台海融科技以集中竞价和大宗交易的方式减持其所持有的公司 股份合计不超过130,000股。减持期间为自减持计划披露之日起15个交易日后的 ...

广东九联科技股份有限公司 证券代码：688609 证券简称：九联科技 公告编号：2025-053 关于 5%以上股东及董监高、核心技术人员减持股份 结果公告 本公司董事会、全体董事及相关股东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： 5%以上股东、董监高及核心技术人员持股的基本情况 本次减持计划前，广东九联科技股份有限公司（以下简称"公司"或"九联 科技"）5%以上股东、董事、董事会秘书、副总经理胡嘉惠女士持有公司 26,181,820 股股份，占公司总股本比例为 5.2364%；公司股东、董事、副总经理、 核心技术人员许华先生持有公司 16,181,820 股股份，占公司总股本比例为 3.2364%；公司股东、财务总监凌俊先生持有公司 10,200,000 股股份，占公司总 股本比例为 2.0400%。 上述股份均为公司首次公开发行前取得股份，已于 2024 年 3 月 25 日解除限 售并上市流通。 本次减持计划前，惠州市海纳百川科技有限公司（以下简称"海纳百川"） 持有公司股份 2,628,500 股，占公司总股本 ...