Core Insights - The railway and highway sector experienced a decline of 0.59% on November 17, with Chongqing Road and Bridge leading the drop [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Sector Performance - Notable gainers in the railway and highway sector included: - Fujian Expressway (600033) with a closing price of 3.95, up 3.13% and a trading volume of 1.0689 million shares, totaling 420 million yuan in transaction value [1] - Fulin Yuantong (002357) closed at 11.10, up 1.46% with a trading volume of 270,200 shares, amounting to 307 million yuan [1] - Hunan Investment (000548) closed at 6.01, up 1.01% with a trading volume of 128,600 shares, totaling 76.9436 million yuan [1] - Major decliners included: - Chongqing Road and Bridge (600106) closed at 6.29, down 2.78% with a trading volume of 284,000 shares [2] - Dongguan Holdings (000828) closed at 11.62, down 2.02% with a trading volume of 90,900 shares [2] - Anhui Expressway (600012) closed at 15.00, down 1.64% with a trading volume of 90,800 shares [2] Capital Flow - The railway and highway sector saw a net outflow of 286 million yuan from major funds, while retail investors contributed a net inflow of 184 million yuan [2]

Core Viewpoint - Western Entrepreneurship, established in 1994, is a leading railway transportation enterprise in Ningxia, with a comprehensive business model covering the entire railway transportation industry chain [1] Group 1: Business Performance - In Q3 2025, Western Entrepreneurship reported revenue of 985 million yuan, ranking 7th in the industry, with the industry leader, Daqin Railway, generating 57.058 billion yuan [2] - The company's net profit for the same period was 295 million yuan, ranking 6th in the industry, with the top performer, Beijing-Shanghai High-Speed Railway, achieving 10.365 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Western Entrepreneurship's debt-to-asset ratio was 8.58%, an increase from 8.20% year-on-year, significantly lower than the industry average of 21.36% [3] - The gross profit margin for Q3 2025 was 18.60%, down from 27.68% year-on-year, but still above the industry average of 16.06% [3] Group 3: Management and Shareholder Information - The salary of General Manager Chen Cunbing increased to 510,000 yuan in 2024, up by 100,000 yuan from 2023 [4] - As of September 30, 2025, the number of A-share shareholders decreased by 3.25% to 37,500, while the average number of circulating A-shares held per account increased by 3.36% to 38,900 [5]

Core Viewpoint - Western Entrepreneurship (000557) reported a significant increase in net profit for the first three quarters, primarily due to non-recurring gains from the bankruptcy liquidation of its subsidiary, Ningxia Dagu Logistics Co., Ltd [1][2] Financial Performance - The company achieved an operating revenue of 985 million yuan and a net profit attributable to shareholders of 295 million yuan, representing a year-on-year increase of 31.46% [1] - Total assets increased to 6.964 billion yuan, up 2.64% from the beginning of the year, while equity attributable to shareholders rose to 6.367 billion yuan, a growth of 4.19% [1] Investment and Projects - The company saw a significant increase of 62.33% in construction in progress, driven by ongoing investments in major projects such as the electrification of the Ningdong Railway and external power projects, indicating a strong commitment to business upgrades and green transformation [1] - Core business segments, including railway transportation and logistics, maintained stable operations, highlighting the company's important position in the regional energy supply chain [1] Strategic Focus - The company plans to continue focusing on its core business, implementing a "railway + logistics" dual-drive strategy, and accelerating key projects like electrification and external power to enhance operational efficiency and service capabilities [2] - With steady growth in regional energy demand and ongoing infrastructure improvements, the company is expected to find new growth opportunities in the integration of green transportation and modern logistics [2]

Core Insights - The company reported a total revenue of 985 million yuan for Q3 2025, with a net profit attributable to shareholders of 295 million yuan, marking an increase of 70.52 million yuan compared to the same period last year, representing a year-on-year growth of 31.46% [1] - The company achieved a net cash inflow from operating activities of 323 million yuan [1] Financial Metrics - The latest debt-to-asset ratio stands at 8.58%, ranking second among disclosed peers, with a decrease of 0.26 percentage points from the previous quarter [3] - The latest gross profit margin is 18.60% [3] - The return on equity (ROE) is 4.63%, an increase of 0.94 percentage points compared to the same period last year [3] - The diluted earnings per share is reported at 0.00 yuan [3] - The total asset turnover ratio is 0.14 times, ranking 10th among disclosed peers [3] - The inventory turnover ratio is 17.60 times, ranking 9th among disclosed peers, with an increase of 0.88 times year-on-year, representing a growth of 5.28% [3] Shareholder Structure - The number of shareholders is 37,500, with the top ten shareholders holding a total of 874 million shares, accounting for 59.95% of the total share capital [3] - The top shareholders include: 1. Ningxia State-owned Capital Operation Group Co., Ltd. - 17.19% 2. State Energy Group Ningxia Coal Industry Co., Ltd. - 17.14% 3. China Cinda Asset Management Co., Ltd. - 13.3% 4. State Power Investment Corporation Ningxia Energy Aluminum Co., Ltd. - 4.87% 5. Huadian International Power Co., Ltd. - 4.87% 6. Hong Kong Central Clearing Limited - 0.69% 7. China Merchants Bank Co., Ltd. - Southern CSI 1000 ETF - 0.55% 8. Ma Xiaoping - 0.44% 9. Zheng Huixia - 0.40% 10. Bang Yiren - 0.40% [3]

Core Insights - The company, Ningxia Western Entrepreneurship Industrial Co., Ltd., reported a revenue of 985 million yuan for the first nine months of 2023, reflecting a year-on-year decrease of 1.02% [1] - The net profit attributable to shareholders of the listed company reached 295 million yuan, showing a significant year-on-year increase of 31.46% [1] Financial Performance - Revenue for the first three quarters of 2023: 985 million yuan, down 1.02% year-on-year [1] - Net profit for the same period: 295 million yuan, up 31.46% year-on-year [1]

Core Viewpoint - Western Entrepreneurship (000557.SZ) reported a slight decline in revenue for the first three quarters of 2025, while net profit showed significant growth year-on-year [1] Financial Performance - The company achieved an operating income of 985 million yuan, representing a year-on-year decrease of 1.02% [1] - The net profit attributable to shareholders of the listed company was 295 million yuan, reflecting a year-on-year increase of 31.46% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 134 million yuan, which marked a year-on-year decline of 38.99% [1]

宁夏西部创业实业股份有限公司 内幕信息保密管理办法 （经 2025 年 10 月 28 日召开的第十届董事会第二十次会议审议通过） 第一章 总 则 第一条 为了规范宁夏西部创业实业股份有限公司（以下简 称"公司"）的内幕信息管理，加强内幕信息保密工作，根据《中 华人民共和国公司法》（以下简称《公司法》）、《中华人民共和国 证券法》（以下简称《证券法》）、《深圳证券交易所股票上市规则》 （以下简称《上市规则》）、《上市公司信息披露管理办法》等有 关法律法规、规章和《宁夏西部创业实业股份有限公司章程》、 《宁夏西部创业实业股份有限公司信息披露管理办法》的有关规 定，制定本办法。 第二条 本办法适用范围为公司董事、高级管理人员、各部 门、子公司及其他可能接触内幕信息的相关人员。 第三条 董事会是公司内幕信息的管理机构，按照确定重点、 全面动员、监管有力、惩处必严的原则，切实做好内幕信息管理 相关工作。 第四条 公司董事会应及时登记和报送内幕信息知情人档 案，并保证内幕信息知情人档案真实、准确和完整，董事长为主 — 1 — 要责任人，董事会秘书负责办理内幕信息知情人的登记入档和报 送事宜，董事会办公室具体办理内幕信息 ...

Core Viewpoint - Western Venture (000557.SZ) reported a slight decrease in revenue for the first three quarters of 2025, while net profit showed a significant increase compared to the previous year [1] Financial Performance - Revenue for the first three quarters reached 985 million yuan, representing a year-on-year decrease of 1.02% [1] - Net profit attributable to shareholders was 295 million yuan, reflecting a year-on-year increase of 31.46% [1] - Net profit excluding non-recurring gains and losses was 134 million yuan, which is a year-on-year decrease of 38.99% [1] - Basic earnings per share stood at 0.2021 yuan [1]

关于撤销监事会和监事并修订《章程》及部分治理制度的公告 — 1 — 关于撤销监事会和监事并修订《章程》及部分治理制度的公告 《股东会议事规则》《董事会议事规则》《董事会审计委员会 工作细则》等相关公司治理制度。在此期间，监事会及监事继 续履行职责。 证券代码：000557 证券简称：西部创业 公告编号：2025-38 宁夏西部创业实业股份有限公司 关于撤销监事会和监事并修订《章程》 及部分治理制度的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 宁夏西部创业实业股份有限公司第十届董事会第二十次会 议、第十届监事会第十一次会议于 2025 年 10 月 28 日召开， 审议通过了《关于修订<章程>的提案》《撤销监事会和监事并 废止<监事会议事规则>的提案》等提案。具体内容详见公司同 日披露于《证券时报》、巨潮资讯网的《第十届董事会第二十 次会议决议公告》（公告编号：2025-34）、《第十届监事会 第十一次会议决议公告》（公告编号：2025-35）、《关于召 开 2025 年第一次临时股东会的通知》（公告编号：2025-37）、 《2025 年第一次临时股 ...

关于召开 2025 年第一次临时股东会的通知 宁夏西部创业实业股份有限公司 关于召开 2025 年第一次临时股东会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 一、召开会议的基本情况 （一）股东会届次：2025年第一次临时股东会。 （二）股东会的召集人：经第十届董事会第二十次会议审议 通过，2025年第一次临时股东会由董事会召集。 （三）会议召开的合法、合规性：本次股东会的召开符合有 关法律、行政法规、部门规章、规范性文件和公司《章程》的规 定。 （四）会议召开的日期、时间： 1.现场会议召开日期：2025年11月17日14:30； 证券代码：000557 证券简称：西部创业 公告编号：2025-37 2.互联网投票时间：通过深圳证券交易所互联网投票系统投 票的开始时间为2025年11月17日9:15，投票结束时间为2025年 11月17日15:00； 3.交易系统投票时间：通过深圳证券交易所交易系统进行网 络投票的时间为2025年11月17日9:15-9:25，9:30-11:30， — 1 — 关于召开 2025 年第一次临时股东会的通知 13: ...