Core Viewpoint - The company has not yet applied its carbonyl iron powder in the research and manufacturing of axial flux motors [1] Group 1 - Investors inquired about the application of the company's carbonyl iron powder in high-performance soft magnetic composite materials [1] - The company confirmed that its carbonyl iron powder has not been used in the development and manufacturing of axial flux motors [1]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative return of over 20% within the next six months [5][17]. Core Insights - The company achieved a revenue of 321 million yuan in the first three quarters of 2025, representing a year-over-year increase of 3.2%. In Q3 alone, revenue reached 117 million yuan, up 10.8% year-over-year and 9.6% quarter-over-quarter [1][2]. - The net profit attributable to the parent company for the first three quarters was 61 million yuan, a year-over-year increase of 9%. In Q3, net profit was 23 million yuan, reflecting a year-over-year growth of 19.3% and a quarter-over-quarter increase of 10.8% [1][2]. - The company is in the process of ramping up production capacity for its carbonyl iron powder project, which is expected to double its capacity from 5,500 tons to 11,500 tons. This new capacity is anticipated to contribute positively to the company's performance as it focuses on high-end product optimization [3][4]. Financial Performance Summary - For Q3 2025, the gross margin was 40.6%, showing a quarter-over-quarter increase of 0.49 percentage points. The net profit margin for Q3 was 19.79%, up 1.47 percentage points from the previous quarter [2]. - The company forecasts net profits of 80 million yuan, 130 million yuan, and 160 million yuan for the years 2025, 2026, and 2027, respectively, corresponding to price-to-earnings ratios of 53, 33, and 26 times [3][4]. Capacity Expansion and Future Outlook - The company’s IPO-funded project for carbonyl iron powder is expected to reach full production capacity by the end of Q3 2023, with gradual capacity release based on market demand. This expansion is projected to alleviate production bottlenecks and enhance profitability through economies of scale [3][4]. - The company is also developing a new process at its Ningxia base, which is expected to further open growth opportunities. The first phase of the carbonyl iron powder demonstration line is anticipated to enter trial production in 2025 [3].

Core Insights - The company Yu'an New Materials (688786.SH) reported a total operating revenue of 321 million yuan for Q3 2025, ranking 25th among disclosed peers [1] - The net profit attributable to shareholders was 61.42 million yuan, placing the company 18th among its peers [1] - The net cash inflow from operating activities was 118 million yuan [1] Financial Performance - The latest debt-to-asset ratio is 28.87%, which is an increase of 2.82 percentage points from the previous quarter and an increase of 9.22 percentage points year-on-year [3] - The latest gross profit margin stands at 38.94% [3] - The return on equity (ROE) is reported at 8.23% [3] - The diluted earnings per share (EPS) is 0.43 yuan [3] Efficiency Metrics - The total asset turnover ratio is 0.33 times, ranking 26th among disclosed peers, which is a decrease of 0.03 times or 7.27% year-on-year [3] - The inventory turnover ratio is 1.92 times, ranking 17th among disclosed peers [3] Shareholder Information - The number of shareholders is 5,289, with the top ten shareholders holding a total of 79.67 million shares, accounting for 55.40% of the total share capital [3] - Detailed shareholding information of the top shareholders is provided, indicating significant ownership concentration [3]

Core Viewpoint - The company, Jiangxi Yuean New Materials Co., Ltd., is set to hold a performance briefing for the third quarter of 2025 to discuss its operational results and financial status with investors [10][11]. Financial Data - The third quarter financial report has not been audited, and the company assures the accuracy and completeness of the financial information presented [3][8]. - The report period refers to the three months from the beginning to the end of the quarter [3]. Shareholder Information - The company guarantees the authenticity of the quarterly report and the financial data provided, with legal responsibility for any misrepresentation or omissions [2][9]. - There are no significant changes in the major shareholders or their holdings reported for this quarter [5]. Performance Briefing Details - The performance briefing is scheduled for November 6, 2025, from 11:00 AM to 12:00 PM, and will be conducted via an online interactive format [10][12]. - Investors can submit questions in advance from October 30 to November 5, 2025, and the company will address common concerns during the briefing [10][13]. Contact Information - For inquiries, investors can contact the board office via phone or email provided in the announcement [14].

Core Viewpoint - Yuean New Materials (688786.SH) reported a year-on-year increase in revenue and net profit for Q3 2025, indicating strong financial performance and growth potential [1] Financial Performance - The company's operating revenue for Q3 2025 reached 117 million yuan, representing a year-on-year increase of 10.83% [1] - The net profit attributable to shareholders of the listed company was 23.43 million yuan, showing a year-on-year increase of 19.33% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 22.45 million yuan, reflecting a year-on-year increase of 21.16% [1]

Group 1 - The core viewpoint of the article highlights the financial performance of Yuean New Materials in Q3 2025, showing growth in revenue and net profit compared to the previous year [1] - The company's revenue for the first three quarters of 2025 is approximately 321 million yuan, representing a year-on-year increase of 3.19% [1] - The net profit attributable to shareholders is around 61.42 million yuan, reflecting a year-on-year increase of 9.04% [1] - Basic earnings per share are reported at 0.43 yuan, which is a 10.26% increase year-on-year [1] Group 2 - As of the report, the market capitalization of Yuean New Materials stands at 4.3 billion yuan [2] - The A-share market has surpassed 4000 points, indicating a significant market resurgence after a decade of stagnation, with technology leading the market's new "slow bull" pattern [2]

Core Viewpoint - The financial performance of Yuean New Materials in Q3 2025 shows positive growth in both revenue and net profit, indicating a stable business trajectory and potential for future investment opportunities [1] Financial Performance Summary - In Q3 2025, the company achieved a revenue of 117 million yuan, representing a year-on-year increase of 10.83% [1] - The net profit attributable to shareholders was 23.43 million yuan, reflecting a year-on-year growth of 19.33% [1] - Basic earnings per share for Q3 2025 stood at 0.16 yuan [1] Year-to-Date Performance Summary - For the first three quarters of 2025, the company reported a total revenue of 321 million yuan, which is a year-on-year increase of 3.19% [1] - The net profit attributable to shareholders for the first three quarters was 61.42 million yuan, showing a year-on-year growth of 9.04% [1] - Basic earnings per share for the first three quarters was recorded at 0.43 yuan [1]

证券代码：688786 证券简称：悦安新材 公告编号：2025-038 江西悦安新材料股份有限公司 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、准确性和完整性依法承担法律责任。 重要内容提示： 投资者可于 2025 年 10 月 30 日（星期四）至 11 月 5 日（星期三）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 （stock@yueanmetal.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。 江西悦安新材料股份有限公司（以下简称"公司"）已于 2025 年 10 月 30 日 在上海证券交易所网站（www.sse.com.cn）披露了公司《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 6 日（星期四）上午 11:00-12:00 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。 一、说明会类型 本次业绩说明会以网络文字互 ...

Financial Performance - The company's revenue for the third quarter reached ¥117,458,557.16, representing a year-on-year increase of 10.83%[4] - Total profit for the quarter was ¥26,993,537.31, reflecting a growth of 22.14% compared to the same period last year[4] - Net profit attributable to shareholders was ¥23,429,416.22, up by 19.33% year-on-year[4] - The company reported a basic earnings per share of ¥0.16, which is an increase of 14.29% compared to the same quarter last year[4] - Total revenue for the first three quarters of 2025 reached ¥320,862,718.56, an increase of 3.1% compared to ¥310,941,360.63 in the same period of 2024[18] - Operating profit for the first three quarters of 2025 was ¥70,897,619.25, up from ¥64,410,745.15 in 2024, reflecting a growth of 7.7%[19] - Net profit attributable to shareholders for the first three quarters of 2025 was ¥61,415,847.66, compared to ¥56,322,362.75 in 2024, marking an increase of 9.3%[19] - The total comprehensive income for the first three quarters of 2025 was ¥61,466,663.19, compared to ¥55,857,032.44 in 2024, showing an increase of 10.0%[20] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.43, up from ¥0.39 in 2024, indicating a growth of 10.3%[20] Research and Development - Research and development expenses totaled ¥5,601,520.09, accounting for 4.77% of revenue, a decrease of 0.34 percentage points from the previous year[5] - Research and development expenses increased to ¥15,740,885.80 in 2025 from ¥14,305,254.74 in 2024, representing a rise of 10.1%[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,057,620,973.11, marking a 16.51% increase from the end of the previous year[5] - Total current assets as of September 30, 2025, amount to ¥451,624,507.19, an increase from ¥364,177,061.42 as of December 31, 2024[15] - Total assets as of September 30, 2025, are ¥1,057,620,973.11, up from ¥907,714,052.38[16] - Total non-current assets increased to ¥605,996,465.92 from ¥543,536,990.96[16] - Total liabilities as of September 30, 2025, amounted to ¥305,346,084.13, significantly higher than ¥191,008,441.45 at the end of 2024, indicating a growth of 59.9%[18] - The company’s equity attributable to shareholders increased to ¥746,622,517.41, a rise of 5.05% compared to the end of the previous year[5] - Shareholders' equity attributable to the parent company increased to ¥746,622,517.41 as of September 30, 2025, from ¥710,741,482.61 at the end of 2024, reflecting a growth of 5.1%[18] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥118,282,599.36, showing a significant increase of 147.14%[9] - In the first three quarters of 2025, the cash inflow from operating activities was CNY 287,266,708.41, an increase of 11.8% compared to CNY 257,042,832.95 in the same period of 2024[23] - The net cash flow from operating activities for the first three quarters of 2025 was CNY 118,282,599.36, significantly higher than CNY 47,860,758.15 in 2024, marking a 147.5% increase[23] - The cash inflow from investment activities in the first three quarters of 2025 was CNY 100,416,969.88, up from CNY 62,883,161.06 in 2024, representing a 59.9% increase[24] - The net cash flow from investment activities was -CNY 83,196,797.77 in 2025, an improvement compared to -CNY 92,020,031.99 in 2024[24] - The cash inflow from financing activities increased to CNY 68,686,452.66 in 2025 from CNY 40,535,745.60 in 2024, reflecting a 69.3% increase[24] - The net cash flow from financing activities was CNY 15,200,010.71 in 2025, a turnaround from -CNY 63,587,678.73 in 2024[24] - The total cash and cash equivalents at the end of the third quarter of 2025 reached CNY 137,628,898.64, compared to CNY 66,459,657.39 at the end of 2024[24] Shareholder Information - Total number of common shareholders at the end of the reporting period is 5,289[11] - The largest shareholder, Li Shangkui, holds 38,213,700 shares, representing 26.57% of total shares[11] Cash Management - Cash and cash equivalents increased to ¥144,059,327.89 from ¥91,190,381.15[15] - Accounts receivable rose to ¥87,190,519.02 from ¥76,709,822.11[15] - Inventory decreased slightly to ¥100,287,606.86 from ¥103,567,536.28[15] - Accounts payable increased to ¥64,015,465.41 from ¥43,343,920.15[16] - The cash outflow for purchasing goods and services was CNY 59,595,581.70 in 2025, down from CNY 107,321,009.51 in 2024, indicating a 44.4% decrease[23] - The cash outflow for employee payments was CNY 53,786,871.61 in 2025, slightly up from CNY 51,750,454.41 in 2024, showing a 3.9% increase[23] - The cash outflow for taxes paid was CNY 35,708,627.48 in 2025, compared to CNY 28,632,118.24 in 2024, which is a 24.6% increase[23]

Core Insights - The company reported a third-quarter revenue of 117 million, representing a year-on-year increase of 10.83% [1] - The net profit for the third quarter was 23.43 million, showing a year-on-year growth of 19.33% [1] - For the first three quarters, the total revenue reached 321 million, reflecting a year-on-year increase of 3.19% [1] - The net profit for the first three quarters amounted to 61.42 million, with a year-on-year growth of 9.04% [1]