Core Viewpoint - Zhongzi Technology is a leading enterprise in the domestic environmental catalyst field, focusing on the research, development, production, and sales of environmental catalysts, with strong technical accumulation and innovation capabilities [1] Group 1: Business Performance - In Q3 2025, Zhongzi Technology achieved a revenue of 1.191 billion yuan, ranking 29th among 55 companies in the industry, with the industry leader, Zhongding Co., achieving 14.555 billion yuan [2] - The main business revenue composition includes: internal combustion engine exhaust purification catalysts at 750 million yuan (96.12%), energy storage and energy storage+ at 16.11 million yuan (2.06%), industrial catalysts at 10.976 million yuan (1.41%), and hydrogen energy at 734,200 yuan (0.09%) [2] - The net profit for the same period was -25.6295 million yuan, ranking 50th in the industry, with the industry average net profit at 129 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Zhongzi Technology's asset-liability ratio was 46.35%, up from 31.87% in the previous year, exceeding the industry average of 40.56% [3] - The gross profit margin for Q3 2025 was 12.16%, an increase from 9.54% year-on-year, but still below the industry average of 21.56% [3] Group 3: Executive Compensation - Chairman Chen Qizhang's salary for 2024 was 758,300 yuan, an increase of 183,400 yuan from 2023 [4] - General Manager Wang Yun's salary for 2024 was 642,000 yuan, an increase of 186,300 yuan from 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 3.40% to 8,272, while the average number of circulating A-shares held per household increased by 3.52% to 14,500 [5] - The company’s Q2 2025 performance was below expectations due to new business development costs, but traditional business showed steady progress [5] Group 5: Future Outlook - The company is expected to face pressure on new business development costs, leading to a downward revision of profit forecasts for 2025 and 2026 to 21.24 million yuan and 61.79 million yuan, respectively [5] - The company maintains an "outperform" rating with a target price of 24.85 yuan, with anticipated net profits for 2025, 2026, and 2027 at 51 million yuan, 92 million yuan, and 109 million yuan, respectively [5]

证券代码：688737 证券简称：中自科技 公告编号：2025-065 中自科技股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 会议召开时间：2025 年 11 月 28 日（星期五）15:00-16:00 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/） 会议召开方式：上证路演中心网络互动 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 28 日（星期五）15:00-16:00 （二）会议召开地点：上证路演中心 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： 投资者可于 2025 年 11 月 21 日（星期五）至 11 月 27 日（星期四）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 zzq@sinocat.com.cn ...

证券代码：688737 证券简称：中自科技 公告编号：2025-064 中自科技股份有限公司 具体内容详见公司披露于上海证券交易所网站（www.sse.com.cn）的《中自 科技股份有限公司 2025 年第三季度报告》。 （二）审议通过《关于制定公司内部审计制度的议案》 表决结果：9 票同意，0 票反对，0 票弃权。 一、董事会会议召开情况 中自科技股份有限公司（以下简称"公司"）第四届董事会第八次临时会议 于 2025 年 10 月 30 日（星期四）在成都市高新区古楠街 88 号公司研发楼会议室 以现场结合通讯的方式召开。会议通知已于 2025 年 10 月 24 日通过邮件的方式 送达各位董事。本次会议应出席董事 9 人，实际出席董事 9 人。会议由董事长陈 启章先生主持，公司董事会秘书列席了本次会议。会议的召集、召开程序符合有 关法律、法规、规章和《公司章程》的规定。经各位董事认真审议，会议形成了 如下决议： 二、董事会会议审议情况 （一）审议通过《关于公司 2025 年第三季度报告的议案》 表决结果：9 票同意，0 票反对，0 票弃权。 本议案已经董事会审计委员会审议通过，并同意提交董事会审议。 ...

Financial Performance - The company's operating revenue for the third quarter was ¥410,401,806.36, representing a year-on-year increase of 28.92%[4] - The total profit for the period was -¥21,263,846.63, with a year-to-date total profit of -¥37,863,402.50[4] - The net profit attributable to shareholders was -¥15,030,501.22 for the quarter, and -¥26,950,243.01 year-to-date[4] - Total operating revenue for the first three quarters of 2025 reached ¥1,190,788,615.18, an increase of 12.6% compared to ¥1,057,024,115.62 in the same period of 2024[18] - Net loss for the first three quarters of 2025 was ¥25,629,458.84, compared to a net loss of ¥12,836,254.44 in the same period of 2024, indicating an increase in losses[19] - The total comprehensive loss for the first three quarters of 2025 was ¥25,581,200.40, compared to a loss of ¥12,836,254.44 in 2024, indicating a worsening financial position[20] Research and Development - Research and development expenses for the quarter amounted to ¥38,696,959.21, an increase of 60.66% compared to the same period last year, and accounted for 9.43% of operating revenue[5] - Research and development expenses increased to ¥96,295,951.96 in 2025 from ¥69,194,145.14 in 2024, representing a growth of 39.2%[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,391,781,078.42, reflecting a 17.93% increase from the end of the previous year[5] - The company's total assets as of the latest reporting period amounted to ¥3,391,781,078.42, compared to ¥2,876,111,923.70 in the previous year, marking an increase of 17.8%[16] - Total liabilities increased to ¥1,572,132,344.69 from ¥1,030,882,573.12, reflecting a growth of 52.5%[16] - The total equity attributable to shareholders decreased to ¥1,798,985,385.41 from ¥1,825,886,786.43, a decline of 1.5%[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 8,272[10] - The largest shareholder, Chen Qizhang, holds 39,008,704 shares, representing 32.63% of the total shares[11] - The second largest shareholder, Nanjing Yinanling Ying New Energy Industry Investment Fund, holds 7,648,785 shares, accounting for 6.40%[11] - The company has no known related party transactions among the top shareholders, except for some identified as acting in concert[12] - There are no changes in the shareholding status of the top 10 shareholders due to margin trading or securities lending[12] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥320,883,807.56, showing a significant decline of 1,309.22%[8] - In the first three quarters of 2025, the cash inflow from operating activities was CNY 682,929,080.54, a decrease of 12.2% compared to CNY 777,720,339.24 in the same period of 2024[21] - The net cash flow from operating activities was negative at CNY -320,883,807.56, contrasting with a positive CNY 26,536,464.75 in the first three quarters of 2024[22] - Cash inflow from financing activities increased to CNY 630,000,000.00, compared to CNY 199,876,111.11 in the same period of 2024[22] - The net cash flow from financing activities was CNY 390,680,247.03, a significant increase from CNY 24,224,189.21 in the previous year[22] - The ending cash and cash equivalents balance rose to CNY 139,709,977.55, compared to CNY 27,449,269.47 at the end of the same period in 2024[22] Expenses - The basic earnings per share for the quarter was -¥0.13, and -¥0.23 year-to-date[5] - The company reported a significant increase in sales expenses, which rose to ¥39,739,668.14 from ¥21,395,364.64, an increase of 85.8%[19] - The company reported a cash outflow for employee compensation of CNY 95,543,693.67, which is an increase of 29% from CNY 74,128,941.26 in the previous year[22]

第一条 为规范中自科技股份有限公司（以下简称"公司"）内部审计工作，充分 发挥内部审计工作职能，提升内部审计工作质量，加强内部控制，促进企业经营管理 的合法性、合规性，为公司管理层正确决策提供可靠的信息和依据，保护投资者合 法权益，不断提高企业运营的效率及效果，依据《中华人民共和国审计法》《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》等法律法规以及《中自科技股份有限公司章程》（以下简称 "公司章程"）的有关规定，制定本制度。 第二条 本制度所称内部审计，是指公司内部设立的审计部门，依据国家有关 法律法规、财务会计制度和公司内部管理规定，对其内部控制和风险管理的有效性、 财务信息的真实性和完整性以及经营活动的效率和效果等实施独立、客观的监督、 评价和建议，促进公司完善治理，实现目的的活动。 中自科技股份有限公司 内部审计制度 第一章 总则 第十条 审计人员必须遵守职业道德规范和公司规章制度，恪守独立、客观、 公正原则，不得滥用职权，徇私舞弊。并以应有的职业谨慎态度执行审计工作，发 表审计意见。 第三条 公司依照国家有关法律、法规、规章等有关规定，结合公 ...

Group 1 - The company held its second extraordinary shareholders' meeting on September 16, 2025, where it approved the cancellation of the supervisory board and the revision of the company's articles of association [1] - Wang Yun was elected as the employee representative director of the fourth board of directors on October 21, 2025, with his term lasting until the end of the fourth board's term [1][2] - Wang Yun previously served as a non-employee representative director and his election does not change the composition of the board and its committees [1] Group 2 - The company announced its external guarantee plan for 2025, detailing the guarantees provided to its wholly-owned subsidiaries [5] - The total amount of guarantees provided includes 3.18 million yuan for Yaan Zhongzi Future Energy Co., 2.05 million yuan for Pengzhou Guanghe Future New Energy Co., 3.10 million yuan for Lianyungang Jinwu Chuaneng New Energy Co., 4.30 million yuan for Chengdu Hechenxu New Energy Co., and 8.50 million yuan for Tianjin Qinglian Energy Engineering Co. [6] - As of the announcement date, the total actual guarantees provided by the company to its subsidiaries amounted to 71.53 million yuan [6] Group 3 - The company has approved a total external guarantee limit of up to 2.5 billion yuan for 2025, which can be used for financing and performance guarantees [11] - The guarantees provided to subsidiaries are within the approved limit and do not require further board or shareholder approval [11] - The subsidiaries involved in the financing leasing business are all fully owned by the company, thus not classified as related guarantees [6]

Core Viewpoint - The company, Zhongzi Technology, announced that as of the date of the announcement, it has no overdue guarantees or guarantees related to litigation [1] Group 1 - The company confirmed the absence of overdue guarantees [1] - The company stated there are no guarantees involved in any litigation [1]

证券代码：688737 证券简称：中自科技 公告编号：2025-063 中自科技股份有限公司 关于 2025 年度对外担保计划的进展公告 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： 被担保人雅安中自未来能源有限公司（以下简称"中自雅安"）、彭州 市光合未来新能源有限公司（以下简称"彭州光合"）、连云港金乌楚能新能源 有限公司（以下简称"连云港金乌"）、成都合辰旭新能源有限公司（以下简称 "成都合辰旭"）、天津清联能源工程有限公司（以下简称"天津清联"）均系 中自科技股份有限公司（以下简称"公司"或"中自科技"）全资子公司四川中 自未来能源有限公司（以下简称"中自未来"）的全资子公司，故中自雅安、彭 州光合、连云港金乌、成都合辰旭、天津清联均系公司合并报表范围内的全资子 公司，不属于关联担保。 本次担保金额及已实际为其提供的担保余额：公司本次为中自雅安提供 的担保金额为 318.00 万元，公司本次为彭州光合提供的担保金额为 205.00 万元， 公司本次为连云港金乌提供的担保金额为 310.00 万元，公司 ...

王云先生担任职工代表董事后，公司第四届董事会中兼任公司高级管理人员 以及由职工代表担任的董事人数总计未超过公司董事总数的二分之一，符合相关 法律法规的要求。 证券代码：688737 证券简称：中自科技 公告编号：2025-062 中自科技股份有限公司 关于选举第四届董事会职工代表董事的公告 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。 中自科技股份有限公司（以下简称"公司"）于 2025 年 9 月 16 日召开 2025 年第二次临时股东会，审议通过了《关于取消监事会、修订<公司章程>并办理 工商变更登记及制定、修订公司部分制度的议案》，《中自科技股份有限公司章程 （2025 年 8 月修订）》（以下简称"公司章程"）自当日起开始生效。 根据公司章程规定，董事会成员中应当有一名公司职工代表董事，董事会中 的职工代表董事由公司职工通过职工代表大会选举产生后，直接进入董事会。公 司于 2025 年 10 月 21 日召开职工代表大会，选举王云先生为公司第四届董事会 职工代表董事，任期自职工代表大会通过之日起至第四届董事会任期届 ...

Core Viewpoint - The article highlights the journey of Zhongzi Technology over the past 20 years in transforming laboratory innovations into market-ready products, establishing a unique "catalytic path" that encompasses market share growth, technology transfer, and strategic planning for future industries [1][2]. Group 1: Market Strategy - Zhongzi Technology has successfully penetrated the catalyst market dominated by foreign giants by focusing on motorcycle catalysts initially, overcoming early failures to establish a foothold [3][4]. - The company transitioned from "following" to "keeping pace" with foreign competitors after the implementation of the stringent "National VI" emission standards in July 2019, achieving significant technological breakthroughs [4]. - By acquiring Chengdu Guangming Tianzhong Environmental Technology Co., Zhongzi Technology entered the passenger vehicle catalyst supply chain, marking a significant step in domestic production capabilities [4]. Group 2: R&D Collaboration - Zhongzi Technology employs a unique R&D model that combines in-house development with partnerships with universities and research institutions, enhancing the success rate of technology transfer [5][6]. - Collaborations with institutions like Sichuan University and the University of Electronic Science and Technology have led to the development of key products, including exhaust purification agents and solid-state batteries [6]. Group 3: Future Growth Strategies - The company has outlined three growth curves for future expansion: environmental catalysts, new energy projects, and new materials, with a focus on meeting upcoming emission standards and expanding into various industries [7]. - Despite clear future plans, the company's market valuation remains low, attributed to a focus on execution over promotion, with confidence in the team's ability to demonstrate value over time [7].