一、并购 5、用友网络：筹划发行H股并在香港联交所上市。 1、中储股份：拟收购广州货代和寿阳公司100%股权。 二、回购、增持、股权转让 1、双塔食品：拟2亿元-3亿元回购公司股份用于股权激励。 2、雪天盐业：控股股东拟增持1.5亿元-3亿元。 3、九牧王：股东计划内部转让股份不超0.21%。 三、对外投资 1、比亚迪：2024年度拟10送8转12派39.74元，现金红利总额约为120.77亿元，创历史新高。 2、汇绿生态：控股子公司拟投资2亿元建设光通信项目。 3、城地香江：联合体为中国移动（宁夏中卫）数据中心项目中标候选人之一，投标报价16.32亿元。 4、软控股份：拟3.08亿元投资碳五新材延链精细化工项目。 6、阿拉丁：拟认购雅酶生物25%股权。 四、业绩变动 1、湖南黄金：2025年一季度净利润3.32亿元，同比增长104.63%；主要是金、锑产品销价同比上涨盈利 增加所致。 2、宝丰能源：一季度净利润24.4亿元，同比增长71.49%；公司内蒙古烯烃项目投产，主要产品聚烯烃 产销量增加。 3、全志科技：一季度净利润9155.2万元，同比增长86.51；公司在智能汽车电子、扫地机机器人、智能 投影等 ...

中兴通讯2025年一季度营收逆势增长，毛利率下滑成隐忧 核心要点： 营收增长表现强劲：一季度实现营收329.68亿元，同比增长7.82%，显示公司主营业务维持稳健增长 盈利能力承压：归母净利润24.53亿元，同比下滑10.50%；扣非净利润19.57亿元，同比大幅下滑26.14% 毛利率下滑明显：营业成本增长率远超收入增长率，营业成本同比增长22.13%，而营收仅增长7.82% 现金流状况恶化：经营活动现金流净额18.51亿元，同比下降37.93%，主要因采购支付现金增加 财务亮点：财务费用扭亏为盈，净利息收入增加且汇率波动带来汇兑收益 未来关注点：毛利率变化趋势、研发投入效率、存货管理及市场拓展情况 在全球经济增长放缓和地缘政治风险上升的背景下，中兴通讯2025年第一季度业绩呈现出"营收增长、 利润下滑"的矛盾格局，这一表现引发市场对公司盈利能力和业务质量的担忧。 营收逆势增长，但利润显著承压 根据最新财报，中兴通讯一季度实现营业收入329.68亿元，同比增长7.82%，继续保持增长态势。然 而，归属于上市公司普通股股东的净利润为24.53亿元，同比下滑10.50%；更值得警惕的是，扣除非经 常性损益后的净 ...

Macro Dynamics - The China Passenger Car Association indicates that the recent tariff increases will further accelerate the domestic production of automotive chips, with the current domestic chip localization rate at approximately 20% [2] - The State Administration of Foreign Exchange reports that the RMB exchange rate is fluctuating within a stable range, with the onshore RMB to USD exchange rate at 7.288 as of April 21, reflecting a 0.1% appreciation since the end of 2024 [3] - Shanghai's total import and export value with ASEAN reached 143.52 billion yuan in the first quarter, marking a year-on-year increase of 7.1% [4] Financial Institutions - China Bank will adjust the purchase conditions for its accumulation gold products starting April 23, 2025, raising the minimum purchase amount from 750 yuan to 850 yuan [7] - The China Development Bank issued 369.1 billion yuan in infrastructure loans in the first quarter, with the proportion of infrastructure loans steadily increasing [8] - CITIC Bank's president appointment has been approved by the National Financial Regulatory Administration [9] - Shanghai Bank's chairman Jin Yu resigned due to age reasons, ceasing to hold any positions within the company [10] Market Data - On April 22, the Shanghai Composite Index rose by 0.25%, with significant trading activity in high-position stocks, while the Shenzhen Component Index fell by 0.36% and the ChiNext Index dropped by 0.82% [11] - As of April 21, the financing balance on the Shanghai Stock Exchange was 916.758 billion yuan, an increase of 3.113 billion yuan from the previous trading day [12] Company Dynamics - ZTE Corporation reported a 10.5% year-on-year decline in net profit for the first quarter, with revenue of 32.968 billion yuan, a 7.82% increase [13] - Hunan Gold announced a 104.63% year-on-year increase in net profit for the first quarter, with revenue of 13.121 billion yuan, up 67.83% [16] - Huaron Holdings corrected its 2024 annual performance forecast, indicating a potential delisting risk due to expected losses [17]

证券代码（A/H）：000063/00763 证券简称（A/H）：中兴通讯 公告编号：202540 中兴通讯股份有限公司 第九届监事会第二十三次会议决议公告 中兴通讯股份有限公司（以下简称"公司"）已于 2025 年 4 月 8 日以电子邮 件的方式向公司全体监事发出了《关于召开公司第九届监事会第二十三次会议的 通知》。2025 年 4 月 22 日，公司第九届监事会第二十三次会议（以下简称"本 次会议"）以电视电话会议方式在公司深圳总部等地召开。本次会议由监事会主 席谢大雄先生主持，应到监事 5 名，实到监事 5 名。本次会议的召开符合有关法 律、行政法规、部门规章和《中兴通讯股份有限公司章程》的有关规定，会议合 法、有效。 中兴通讯股份有限公司监事会 本次会议审议通过《二〇二五年第一季度报告》，并发表如下意见： 2025 年 4 月 23 日 经审核，监事会认为董事会编制和审议公司二〇二五年第一季度报告的程序 符合法律、行政法规及中国证监会、深圳证券交易所及香港联合交易所有限公司 等监管机构的各项规定，报告内容真实、准确、完整地反映了公司的实际情况， 不存在虚假记载、误导性陈述或者重大遗漏。 表决情况：同 ...

本次会议审议通过《二〇二五年第一季度报告》。 表决情况：同意 8 票，反对 0 票，弃权 0 票。 本议案已经公司董事会审计委员会审议通过。 特此公告。 证券代码（A/H）：000063/00763 证券简称（A/H）：中兴通讯 公告编号：202539 中兴通讯股份有限公司 第十届董事会第三次会议决议公告 本公司及董事会全体成员保证董事会决议公告的内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 中兴通讯股份有限公司（简称"公司"或"本公司"）已于 2025 年 4 月 8 日以电子邮件的方式向公司全体董事发出了《关于召开中兴通讯股份有限公司第 十届董事会第三次会议的通知》。2025 年 4 月 22 日，公司第十届董事会第三次 会议（简称"本次会议"）以电视电话会议方式在公司深圳总部等地召开。本次 会议由董事长方榕女士主持，应到董事 8 名，实到董事 7 名，委托他人出席董事 1 名（董事闫俊武先生因工作原因未能出席本次会议，已书面委托董事诸为民先 生行使表决权）。公司监事会成员及相关人员列席了本次会议。本次会议的召开 符合有关法律、行政法规、部门规章和《中兴通讯股份有限公司章程》的有关规 定， ...

Financial Performance - The company's operating revenue for Q1 2025 reached RMB 32,968,196 thousand, representing a 7.82% increase compared to RMB 30,578,301 thousand in Q1 2024[10] - Net profit attributable to ordinary shareholders decreased by 10.50% to RMB 2,453,172 thousand from RMB 2,740,979 thousand year-on-year[10] - The company's basic and diluted earnings per share both decreased by 10.53% to RMB 0.51 from RMB 0.57 year-on-year[10] - Net profit for Q1 2025 was RMB 2,464,117 thousand, down 10.8% from RMB 2,761,185 thousand in Q1 2024[25] - Total operating profit for Q1 2025 was RMB 2,912,938 thousand, a decrease of 9.5% from RMB 3,216,306 thousand in Q1 2024[25] - The company’s total profit for Q1 2025 was RMB 2,928,391 thousand, compared to RMB 3,206,793 thousand in Q1 2024, reflecting a decline of 8.7%[25] - The company’s total comprehensive income for Q1 2025 was RMB 2,428,225 thousand, down from RMB 2,709,941 thousand in Q1 2024[25] Cash Flow and Financial Position - The net cash flow from operating activities fell by 37.93% to RMB 1,851,253 thousand, down from RMB 2,982,601 thousand in the same period last year[10] - Operating cash flow decreased by 37.93% to 1,851,253 from 2,982,601 year-on-year, mainly due to increased cash payments for purchases and services[15] - Cash flow from operating activities generated RMB 1,851,253 thousand in Q1 2025, a significant decline from RMB 2,982,601 thousand in Q1 2024[27] - Cash and cash equivalents at the end of Q1 2025 totaled RMB 33,392,385 thousand, compared to RMB 44,943,538 thousand at the end of Q1 2024[27] Assets and Liabilities - Total assets as of March 31, 2025, increased by 5.11% to RMB 217,918,283 thousand from RMB 207,323,230 thousand at the end of 2024[10] - Current assets totaled RMB 151,359,279 thousand, up from RMB 141,787,346 thousand, indicating a growth of about 6.5%[21] - Total liabilities amounted to RMB 145,350,129 thousand, compared to RMB 134,212,948 thousand, reflecting an increase of approximately 8.4%[23] - The company's total equity reached RMB 72,568,154 thousand, up from RMB 73,110,282 thousand, indicating a decrease of approximately 0.7%[23] - Non-current assets totaled RMB 66,559,004 thousand, an increase from RMB 65,535,884 thousand, indicating a growth of about 1.6%[21] Shareholder Information - The total number of shareholders as of March 31, 2025, was 542,757, with 542,461 being A-share shareholders[17] - The largest shareholder, ZTE Corporation, holds 20.09% of the shares, amounting to 958,940,400 shares[17] Other Financial Metrics - The weighted average return on equity declined by 0.56 percentage points to 3.38% from 3.94% in the previous year[10] - Research and development expenses amounted to RMB 5,946,993 thousand in Q1 2025, a decrease of 6.5% compared to RMB 6,375,823 thousand in Q1 2024[25] - Other income increased by 90.72% to 16,642 from 8,726 year-on-year, primarily due to increased external compensation income[15] - Financial expenses surged by 432.98% to RMB (340,005) thousand, attributed to increased net interest income and foreign exchange gains compared to losses in the previous year[14] - Credit impairment losses increased by 263.81% to (117,240) compared to (32,226) in the same period last year, primarily due to increased provisions for accounts receivable[15] - The company reported a 78.86% decrease in asset impairment losses to (80,064) from (378,745) year-on-year, mainly due to reduced provisions for inventory write-downs[15] - Foreign currency translation losses decreased by 33.77% to (35,708) from (53,913) year-on-year, attributed to fluctuations in exchange rates[15] - Minority shareholders' profit decreased by 45.83% to 10,945 from 20,206 year-on-year, mainly due to reduced profits from subsidiaries with higher minority ownership[15] Investment Activities - Investment cash flow net outflow decreased by 90.81% to (1,383,661) from (15,060,862) year-on-year, indicating reduced investment outflows[15]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，幷明確表示，概不對因本公告全部或任何部份內容而産生或 因倚賴該等內容而引致的任何損失承擔任何責任。 二零二五年四月二十二日 ZTE CORPORATION 中興通訊股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00763） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲載列中興通訊股份有限公司（「本公司」）在深圳證券交易所網站發布的以下公 告全文，僅供參閱。 承董 事會 命 方榕 董事長 深圳，中國 於本公告日期，本公司董事會包括執行董事：徐子陽；非執行董事：方榕、閆俊武、諸為民、 張洪；以及獨立非執行董事：莊堅勝、王清剛、徐奇鵬。 证券代码（A/H）：000063/00763 证券简称（A/H）：中兴通讯 公告编号：202540 中兴通讯股份有限公司 第九届监事会第二十三次会议决议公告 本公司及监事会全体成员保证监事会决议公告的内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 中兴通讯股份有限公司（以下简称"公司"）已于 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，幷明確表示，概不對因本公告全部或任何部份內容而産生或 因倚賴該等內容而引致的任何損失承擔任何責任。 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲載列中興通訊股份有限公司（「本公司」）在深圳證券交易所網站發布的以下公 告全文，僅供參閱。 承董 事會 命 方榕 董事長 深圳，中國 二零二五年四月二十二日 ZTE CORPORATION 中興通訊股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00763） 海外監管公告 中兴通讯股份有限公司（简称"公司"或"本公司"）已于 2025 年 4 月 8 日以电子邮件的方式向公司全体董事发出了《关于召开中兴通讯股份有限公司第 十届董事会第三次会议的通知》。2025 年 4 月 22 日，公司第十届董事会第三次 会议（简称"本次会议"）以电视电话会议方式在公司深圳总部等地召开。本次 会议由董事长方榕女士主持，应到董事 8 名，实到董事 7 名，委托他人出席董事 1 名（董事闫俊武先生因工作原因未能出席本次会议，已书 ...

Financial Performance - The company's operating revenue for Q1 2025 reached CNY 32,968,196 thousand, representing a 7.82% increase compared to CNY 30,578,301 thousand in Q1 2024[9] - Net profit attributable to shareholders decreased by 10.50% to CNY 2,453,172 thousand from CNY 2,740,979 thousand in the same period last year[9] - The company's basic and diluted earnings per share were both CNY 0.51, down 10.53% from CNY 0.57 in the previous year[9] - Operating profit for Q1 2025 was RMB 2,912,938 thousand, down 9.5% from RMB 3,216,306 thousand in Q1 2024[24] - The total comprehensive income for Q1 2025 was RMB 2,428,225 thousand, compared to RMB 2,709,941 thousand in Q1 2024[24] Cash Flow - The net cash flow from operating activities fell by 37.93% to CNY 1,851,253 thousand, down from CNY 2,982,601 thousand in Q1 2024[9] - Operating cash flow net amount decreased by 37.93% year-on-year to 1,851,253 from 2,982,601, mainly due to increased cash payments for goods and services[14] - The company reported a net cash flow from financing activities of RMB 4,909,628 thousand in Q1 2025, compared to RMB 5,958,678 thousand in Q1 2024[26] - The company experienced a net cash outflow from investing activities of RMB 1,383,661 thousand in Q1 2025, compared to a much larger outflow of RMB 15,060,862 thousand in Q1 2024[26] Assets and Liabilities - Total assets as of March 31, 2025, amounted to CNY 217,918,283 thousand, a 5.11% increase from CNY 207,323,230 thousand at the end of 2024[9] - The company's total liabilities amounted to RMB 145,350,129 thousand, up from RMB 134,212,948 thousand, indicating an increase of about 8.0%[22] - Current assets totaled RMB 151,359,279 thousand, compared to RMB 141,787,346 thousand, representing a growth of approximately 6.0%[20] - The total current liabilities increased to RMB 94,264,742 thousand from RMB 82,635,473 thousand, representing a growth of approximately 14.0%[22] Shareholder Information - The total number of shareholders as of March 31, 2025, was 542,461, with 296 being H-share shareholders[16] - The largest shareholder, ZTE New Communications Co., Ltd., holds 20.09% of the shares, totaling 958,940,400 shares[16] - The second-largest shareholder, Hong Kong Central Clearing Limited, holds 15.73% of the shares, totaling 752,306,076 shares[16] Operational Highlights - Non-recurring gains and losses totaled CNY 496,472 thousand after tax for Q1 2025, with significant contributions from software product VAT refunds and other operational income[11] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[9] - Research and development expenses for Q1 2025 amounted to RMB 5,946,993 thousand, representing a 6.7% decrease from RMB 6,375,823 thousand in Q1 2024[24] Financial Ratios and Metrics - The weighted average return on equity decreased by 0.56 percentage points to 3.38% from 3.94% in the same period last year[9] - Credit impairment losses increased by 263.81% year-on-year, amounting to (117,240) compared to (32,226) in the same period last year, primarily due to increased provisions for accounts receivable[14] - Financial expenses increased significantly by 432.98% to CNY (340,005) thousand, attributed to higher net interest income and exchange rate gains[13] Inventory and Cash Management - The company's inventory increased to RMB 44,447,940 thousand from RMB 41,257,657 thousand, marking a rise of approximately 5.3%[20] - The cash and cash equivalents stood at RMB 44,000,861 thousand, slightly increasing from RMB 43,885,348 thousand, showing a growth of about 0.3%[20]

中兴通讯(000063.SZ)发布2025年第一季度报告， 营业收入为329.68亿元，同比增长7.82%；归属于上市 公司普通股股东的 净利润为24.53亿元，同比下降10.50%。 ...