证券代码：001288 证券简称：运机集团 公告编号：2025-111 四川省自贡运输机械集团股份有限公司 关于公司与专业投资机构共同投资的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、基本情况 四川省自贡运输机械集团股份有限公司（以下简称"公司"）于 2025 年 8 月 18 日召开第五届董事会第二十三次会议，审议通过了《关于公司拟与专业投 资机构共同投资暨累计对外投资的议案》，同意公司与专业投资机构西安禾盈创 业投资有限公司及其他有限合伙人共同向扬州鼎龙启顺股权投资合伙企业（有限 合伙）（以下简称"鼎龙启顺"）进行投资。全体合伙人拟认购出资总额不超过 人民币 9.5 亿元，其中公司拟作为有限合伙人以自有资金的方式认缴出资不超过 人民币 1 亿元，占合伙企业认缴出资总额不超过 10.53%（公司实际认缴出资人 民币 9,000 万元，占合伙企业认缴出资总额的 9.47%）。具体内容详见公司于 2025 年 8 月 20 日披露的《关于公司拟与专业投资机构共同投资暨累计对外投资的公 告》（公告编号：2025-072）。 2025 年 10 月 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company achieved a significant year-on-year increase in net profit for Q3 2025, with a revenue of 1.232 billion yuan, representing a 41.99% growth, and a net profit of 107 million yuan, up 27.35% year-on-year [4][6] - The company’s Q3 revenue reached 352 million yuan, a 27.97% increase year-on-year, with a net profit of 34 million yuan, reflecting a 45.71% growth [6] - The company is investing in a partnership with a professional investment institution to enhance project and industry resource integration, committing up to 1 billion yuan in a total investment of 9.5 billion yuan [6] - The gross margin for the first three quarters of 2025 was 30.74%, slightly down by 0.19 percentage points year-on-year, while the net margin was 8.99%, down by 0.72 percentage points [6] - The company’s order acquisition capability is highlighted, with substantial overseas expansion and a strong order backlog expected to support stable growth over the next two years [6] Financial Projections - Revenue projections for 2025, 2026, and 2027 are 2.44 billion yuan, 3.49 billion yuan, and 4.68 billion yuan respectively, with corresponding net profits of 236 million yuan, 377 million yuan, and 585 million yuan [8][9] - The expected P/E ratios for 2025, 2026, and 2027 are 27, 17, and 11 respectively [6][9] - The company’s return on equity (ROE) is projected to increase from 7% in 2024 to 20% in 2027 [9]

Company Performance - The stock price of Yunji Group reached a historical high, increasing by 3.57% to 27.88 yuan, with a trading volume of 1.0059 million shares and a transaction value of 27.3657 million yuan, resulting in a turnover rate of 0.66% [2] - The latest total market capitalization of the company in A-shares is 6.55 billion yuan, with a circulating market value of 4.23 billion yuan [2] Industry Overview - The mechanical equipment industry, to which Yunji Group belongs, experienced an overall decline of 0.06%, with 226 stocks rising, including notable gainers such as Oat Technology (up 13.26%), Standard Shares (up 9.99%), and Kangli Elevator (up 7.33%) [2] - Conversely, 337 stocks in the industry saw declines, with the largest drop recorded by Dayilong (down 6.87%), Shandong Molong (down 5.43%), and Bolong Technology (down 5.21%) [2] Financial Results - For the first three quarters, the company reported a total operating revenue of 1.232 billion yuan, representing a year-on-year growth of 41.99% [2] - The net profit for the same period was 107 million yuan, reflecting a year-on-year increase of 27.35%, with basic earnings per share at 0.5400 yuan and a weighted average return on equity of 4.59% [2]

Core Insights - The company reported a total revenue of 1.232 billion yuan for Q3 2025, with a net profit attributable to shareholders of 107 million yuan [1] - The net cash inflow from operating activities was -805 million yuan, a decrease of 628 million yuan compared to the same period last year [1] Financial Performance - The latest debt-to-asset ratio is 53.92%, an increase of 0.57 percentage points from the previous quarter and an increase of 7.19 percentage points year-on-year [3] - The latest gross profit margin is 30.74%, down 0.14 percentage points from the previous quarter and down 0.20 percentage points year-on-year [3] - The latest return on equity (ROE) is 4.67% [3] - The diluted earnings per share (EPS) is 0.54 yuan [3] Operational Efficiency - The latest total asset turnover ratio is 0.24 times [3] - The latest inventory turnover ratio is 2.06 times, a decrease of 0.49 times compared to the same period last year, representing a year-on-year decline of 19.10% [3] Shareholder Structure - The number of shareholders is 9,533, with the top ten shareholders holding a total of 159 million shares, accounting for 67.71% of the total share capital [3] - The largest shareholder is Wu Youhua, holding 45.6 million shares [3]

Core Insights - Yunjigroup (001288.SZ) reported its Q3 2025 results, revealing that as of October 27, 2025, eight institutional investors held a total of 43.7487 million A-shares, accounting for 18.62% of the company's total share capital. This represents a decrease of 5.58 percentage points compared to the previous quarter [1] Institutional Investors - The total shareholding by institutional investors decreased by 5.58 percentage points from the previous quarter [1] - The institutional investors include Sichuan Development Securities Investment Fund Management Co., Ltd. and China Everbright Bank Co., Ltd. among others [1] Public Funds - Two public funds increased their holdings this period, namely Bosera Convertible Bond Enhanced Bond A and Agricultural Bank of China Rui Ze Tian Li Bond A, with an increase ratio of 0.26% [2] - One public fund, Agricultural Bank of China CSI A500 Index Enhanced A, reported a slight decrease in holdings [2] - A total of 89 public funds did not disclose their holdings this period, including notable funds like Huatai-PineBridge Technology Innovation Mixed A and others [2] Social Security Funds - One social security fund, Huatai-PineBridge Fund Management Co., Ltd. - Social Security Fund 423 Combination, did not disclose its holdings this period [2] Foreign Investment - One new foreign institution disclosed its holdings this period, namely Hong Kong Central Clearing Limited [2] - Goldman Sachs LLC did not disclose its holdings this period [2]

Core Points - The company guarantees the authenticity, accuracy, and completeness of the quarterly report, with no false records or misleading statements [2][16] - The third-quarter financial report was not audited [3][16] - The company has made adjustments to its accounting policies due to changes in accounting standards, which resulted in a decrease in selling expenses by 14,538,253.31 yuan and an increase in operating costs by the same amount [4][3] Financial Data - The company has provided guarantees of 18.93 million yuan for its subsidiary Shandong Ourian Electric Co., Ltd. and 23.21 million yuan for its wholly-owned subsidiary Zigong Zhongyou Electromechanical Equipment Co., Ltd. [8] - The company has undergone changes in its board of directors and management, including the resignation of several vice presidents and the appointment of a new board secretary [10][9] - The company plans to invest up to 950 million yuan in a partnership with professional investment institutions, with its own contribution not exceeding 100 million yuan [11] Shareholder Information - A major shareholder, Zigong Bohong Silk Co., Ltd., has released 3.0674 million shares from pledge [12] - The company has approved a stock option incentive plan, granting 4.98 million options to 31 eligible participants at an exercise price of 17.32 yuan per option [13] Board Meeting - The fifth board of directors held its 29th meeting on October 27, 2025, where the third-quarter report was approved unanimously [18][17]

Core Insights - The company reported a revenue of 1.232 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 41.99% [1] - The net profit attributable to shareholders reached 107 million yuan, showing a year-on-year increase of 27.35% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 91.87 million yuan, reflecting a year-on-year growth of 15.37% [1]

证券代码：001288 证券简称：运机集团 公告编号：2025-109 四川省自贡运输机械集团股份有限公司 三、备查文件 1、第五届董事会第二十九次会议决议； 第五届董事会第二十九次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 四川省自贡运输机械集团股份有限公司(以下简称"公司"）第五届董事会第 二十九次会议于2025年10月17日以电子邮件及电话的方式发出通知，并于2025 年 10 月 27 日上午 10 点在公司四楼 418 会议室以现场及视频通讯相结合的方式 召开。本次会议由公司董事长吴友华先生主持，应当出席本次会议的董事共 9 人，实际参会的董事共 9 人，公司部分高级管理人员列席了会议，本次会议的召 集、召开程序符合《公司法》等法律法规、规范性文件及《公司章程》的规定。 二、董事会会议审议情况 经与会董事认真审议，形成如下决议： （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 票赞成，0 票反对，0 票弃权，表决通过。 本议案提交董事会审议前，已经公司第五届董事会审计委员会第十四次 ...

Core Insights - The company reported third-quarter revenue of 352 million, representing a year-over-year increase of 27.97% [1] - Net profit for the third quarter was 33.89 million, showing a year-over-year growth of 45.71% [1] - For the first three quarters, total revenue reached 1.232 billion, reflecting a year-over-year increase of 41.99% [1] - Net profit for the first three quarters amounted to 107 million, with a year-over-year growth of 27.35% [1]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥352,088,469.60, representing a 27.97% increase compared to ¥275,123,932.66 in the same period last year[5] - Net profit attributable to shareholders was ¥33,889,500.15, a 45.71% increase from ¥23,257,947.24 year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥30,142,977.23, up 42.97% from ¥21,083,720.76 in the previous year[5] - Total operating revenue for the current period reached ¥1,232,319,457.06, a significant increase of 42% compared to ¥867,861,201.65 in the previous period[31] - Net profit for the current period was ¥110,784,703.86, representing a 31.5% increase from ¥84,228,864.52 in the previous period[32] - Total comprehensive income reached ¥112,658,794.45, up from ¥85,234,028.59 in the previous period, representing a growth of approximately 32.3%[33] Assets and Liabilities - The total assets at the end of the reporting period were ¥5,235,738,424.12, reflecting a 6.58% increase from the previous year's end[5] - The company's total assets increased to ¥5,235,738,424.12, compared to ¥4,912,483,266.11, marking an increase of about 6.6%[29] - Total liabilities rose to ¥2,823,098,197.64, up from ¥2,609,536,766.77, indicating an increase of approximately 8.2%[29] - The equity attributable to shareholders of the parent company increased to ¥2,298,992,480.36 from ¥2,192,814,282.05, reflecting a growth of about 4.8%[29] Cash Flow - The net cash flow from operating activities was reported at ¥804,610,078.35, a significant improvement compared to the previous year[5] - Net cash flow from operating activities was negative at -¥804,610,078.35, a decline of 356.16% compared to the previous period, attributed to purchases of goods, employee compensation, and tax payments[16] - Cash inflow from operating activities totaled ¥947,644,859.45, compared to ¥742,715,672.81 in the previous period, marking an increase of about 27.6%[33] - Cash outflow from operating activities surged to ¥1,752,254,937.80, up from ¥919,102,664.25, resulting in a net cash flow from operating activities of -¥804,610,078.35[33] - Cash inflow from financing activities amounted to ¥966,295,747.21, compared to ¥486,353,189.05 in the previous period, reflecting a growth of approximately 98.6%[34] - Cash outflow from financing activities rose to ¥640,427,950.50 from ¥377,464,447.77, resulting in a net cash flow from financing activities of ¥325,867,796.71[34] Expenses - Research and development expenses rose to ¥47,858,425.23, a significant increase of 75.52% compared to ¥27,266,322.38 last year, indicating a focus on innovation[11] - The company experienced a 62.88% increase in selling expenses, amounting to ¥48,238,710.77, attributed to higher employee compensation and service fees[11] - Total operating costs amounted to ¥1,071,145,117.31, up from ¥749,809,234.00, reflecting a growth of approximately 43%[31] Investments - Investment income surged by 172.25% to ¥9,723,208.67, primarily driven by increased interest income from deposits[11] - The company approved a joint investment with professional investment institutions, committing up to RMB 1 billion, representing 10.53% of the total investment in the partnership[22] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 9,533, with the largest shareholder holding 45.67% of the shares[18] - The company's capital stock increased by 40.78% to ¥234,921,643.00 due to the conversion of convertible bonds and capital reserves[14] - The company approved the granting of 4.98 million stock options to 31 eligible participants, with an exercise price of RMB 17.32 per option[25] Other Financial Metrics - The weighted average return on equity increased to 1.43%, up 0.37% from the previous year[5] - Deferred income increased by 212.17% to ¥70,672,323.60, mainly due to an increase in government subsidies received[14] - Basic earnings per share increased slightly to ¥0.54 from ¥0.53, while diluted earnings per share decreased to ¥0.48 from ¥0.53[33] Inventory and Receivables - Inventory increased by 54.73% to ¥503,237,879.82, primarily due to procurement and an increase in the scope of consolidation[13] - Accounts receivable increased from RMB 1.49 billion to RMB 1.66 billion during the reporting period[26] - Long-term receivables surged by 488.41% to ¥701,069,117.04, mainly due to the increase in overseas EPC project transfers[13] Audit and Compliance - The company’s financial report for the third quarter was not audited[35]