Group 1 - The core point of the article is that Sanyangma (SZ 001317) held its fourth board meeting on October 27, 2025, to review the third-quarter report proposal for 2025 [1] - For the first half of 2025, Sanyangma's revenue composition shows that logistics services accounted for 98.81%, while other businesses made up 1.19% [1] - As of the report date, Sanyangma's market capitalization is 4.1 billion yuan [1]

证券代码：001317 证券简称：三羊马 公告编号：2025-102 三羊马（重庆）物流股份有限公司 第四届董事会第七次会议决议公告 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、董事会会议召开情况 二、会议议案审议及表决情况 三羊马（重庆）物流股份有限公司（以下简称"公司"）第四届董事会第七次会 议于 2025 年 10 月 27 日在重庆以现场结合通讯方式召开，会议通知已于 2025 年 10 月 16 日送达各位董事。会议由董事长召集并主持，应到董事 7 人，实到董事 7 人， 高级管理人员列席会议，会议召集、召开、议案审议程序等符合相关法律、行政法规、 部门规章、规范性文件和《公司章程》的有关规定。 会议以记名投票表决方式进行表决，形成决议如下： （一）审议通过《关于 2025 年第三季度报告的议案》 议案内容：提请会议审议《2025 年第三季度报告》。 议案表决结果：同意 7 票；反对 0 票；弃权 0 票。 董事会审核意见：董事会同意议案事项。 经审核董事会认为：2025 年第三季度报告的编制和审议程序符合法律、行政法规 和中国证监会的规定， ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥396,105,710.66, representing a 38.16% increase year-over-year, and a total of ¥1,172,228,672.16 for the year-to-date, up 44.60% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2025 was ¥1,205,738.42, a decrease of 10.53% year-over-year, with a year-to-date loss of ¥11,793,863.42, reflecting a decline of 201.58%[5] - The company’s basic earnings per share for Q3 2025 was ¥0.01, down 50.00% year-over-year, with a year-to-date loss per share of ¥0.15, reflecting a decline of 200.00%[5] - The net profit for the current period was a loss of ¥9,608,641.17, compared to a profit of ¥11,610,888.55 in the previous period, indicating a significant decline[23] - Operating profit for the current period was reported at a loss of ¥8,835,098.85, down from a profit of ¥14,064,623.26 in the previous period[22] - The total comprehensive income for the current period was a loss of ¥9,608,641.17, compared to a profit of ¥11,610,888.55 in the previous period[23] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date was ¥58,018,904.79, showing a significant increase of 135.94%[5] - Cash flow from operating activities generated a net cash inflow of ¥58,018,904.79, a recovery from a net outflow of ¥161,423,529.72 in the previous period[24] - The company reported a net cash outflow from investing activities of ¥210,293,152.10, compared to a net outflow of ¥298,110,723.44 in the previous period, showing an improvement[26] - The net cash flow from financing activities was a negative ¥57,160,403.23, contrasting with a positive inflow of ¥216,379,953.67 in the previous period[26] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥1,840,213,964.65, a slight decrease of 0.09% from the previous year[5] - The equity attributable to shareholders increased to ¥890,298,672.55, marking a 4.14% rise compared to the end of the previous year[5] - Total current assets decreased to ¥983,551,631.75 from ¥1,024,082,496.63, reflecting a decline of approximately 4.0%[18] - Total liabilities decreased to ¥938,029,386.84 from ¥984,118,477.32, showing a reduction of about 4.7%[19] - The company's total non-current assets increased to ¥856,662,332.90 from ¥817,783,870.96, indicating a growth of about 4.8%[18] Revenue and Costs - Total operating revenue for the current period reached ¥1,172,228,672.16, an increase of 44.60% compared to ¥810,644,205.31 in the same period last year[11] - Total operating costs increased by 47.42% to ¥1,180,514,945.84 from ¥800,797,604.67, primarily due to new shipping and logistics services[11] - Total operating costs for the current period reached ¥1,180,514,945.84, an increase from ¥800,797,604.67 in the previous period, representing a growth of approximately 47.3%[22] Other Financial Metrics - The company reported a significant increase in fixed assets, which rose by 46.47% to ¥568,262,322.57, primarily due to the transfer of construction in progress to fixed assets[10] - The cash and cash equivalents decreased by 55.94% to ¥183,402,903.48, mainly due to changes in investment products[10] - The company experienced a 44.39% increase in receivables financing, amounting to ¥55,805,937.35, attributed to an increase in pledged notes during the period[10] - The company's financial expenses rose by 48.10% to ¥21,736,099.69, mainly due to increased interest expenses from project loans[11] - Deferred income tax assets increased by 60.30% to ¥5,017,275.26, primarily due to temporary differences[11] - The company’s minority interest increased by 316.95% to ¥11,885,905.26, indicating growth in minority shareholder equity[11] - Other income decreased by 24.63% to ¥1,792,170.47, primarily due to a reduction in financial assistance[11] Shareholder Information - The total number of common shareholders at the end of the reporting period was 19,223[14]

Core Viewpoint - The stock of Sanyangma has experienced fluctuations, with a year-to-date increase of 72.28%, but recent declines in the short term raise concerns about its performance [1][2]. Group 1: Stock Performance - On October 27, Sanyangma's stock price fell by 2.11%, reaching 47.67 CNY per share, with a trading volume of 174 million CNY and a turnover rate of 10.26% [1]. - The stock has seen a net outflow of 16.09 million CNY from main funds, with significant selling pressure observed [1]. - Year-to-date, Sanyangma's stock has risen by 72.28%, but it has declined by 2.93% over the last five trading days and 6.14% over the last twenty days [1]. Group 2: Company Overview - Sanyangma Logistics Co., Ltd. was established on September 6, 2005, and went public on November 30, 2021, focusing on comprehensive transportation services for vehicles and non-automotive goods, as well as warehousing services [2]. - The company's revenue composition includes 60.54% from automotive logistics, 36.66% from non-automotive logistics, and 1.60% from warehousing services [2]. - As of September 19, the number of shareholders increased by 21.79% to 20,200, with an average of 1,458 circulating shares per person, a decrease of 17.89% [2]. Group 3: Financial Performance - For the first half of 2025, Sanyangma reported a revenue of 776 million CNY, reflecting a year-on-year growth of 48.13%, while the net profit attributable to the parent company was -12.99 million CNY, a decrease of 226.66% [2]. - Since its A-share listing, Sanyangma has distributed a total of 57.63 million CNY in dividends, with 25.61 million CNY distributed over the past three years [3].

证券代码：001317 证券简称：三羊马 公告编号：2025-101 债券代码：127097 债券简称：三羊转债 三羊马（重庆）物流股份有限公司 关于控股股东、实际控制人及其一致行动人持股比例 因可转债转股被动稀释触及 1%及 5%整数倍的公告 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。 特别提示： （二）可转换公司债券转股期限及触发赎回情况 本次发行的可转换公司债券转股期限自发行结束之日（2023 年 11 月 1 日）起满 6 个月后的第一个交易日起至可转换公司债券到期日止，即 2024 年 5 月 1 日至 2029 年 10 月 25 日（如遇法定节假日或休息日延至其后的第 1 个工作日；顺延期间付息款 项不另计息）。 1.本次权益变动系三羊马（重庆）物流股份有限公司（以下简称"公司""三羊 马"）可转换公司债券转股导致公司总股本增加，致使公司控股股东、实际控制人邱 红阳及其一致行动人邱红刚合计持有的股份比例由 62.97%被动稀释至 58.90%，触及 1%及 5%整数倍。 2.本次权益变动不涉及股东股份增持或减持，不涉及要约收购，不会导致公司控 ...

证券代码：001317 证券简称：三羊马 公告编号：2025-099 债券代码：127097 债券简称：三羊转债 三羊马（重庆）物流股份有限公司 关于"三羊转债"赎回结果的公告 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。 特别提示： 1.赎回数量：31,026 张 2.支付赎回款：3,117,802.74 元（不含赎回手续费） 3.投资者赎回款到账日：2025 年 10 月 24 日 4."三羊转债"摘牌日：2025 年 10 月 27 日 一、可转换公司债券基本情况 （一）可转换公司债券发行、上市情况 经中国证券监督管理委员会（以下简称"中国证监会"）出具的《关于同意三羊 马（重庆）物流股份有限公司向不特定对象发行可转换公司债券注册的批复》（证监 许可〔2023〕1981 号）同意注册，三羊马（重庆）物流股份有限公司（以下简称"公 司"）于 2023 年 10 月 26 日向不特定对象发行了 210.00 万张可转换公司债券，债券 期限为 6 年，每张面值为人民币 100 元，募集资金总额为人民币 21,000.00 万元。经 深圳证券交易所同意，上述可 ...

证券代码：001317 证券简称：三羊马 公告编号：2025-100 债券代码：127097 债券简称：三羊转债 三羊马（重庆）物流股份有限公司 关于"三羊转债"摘牌的公告 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。 特别提示： 1."三羊转债"赎回日：2025 年 10 月 17 日 2."三羊转债"摘牌日：2025 年 10 月 27 日 3."三羊转债"摘牌原因：存续期内可转债全部赎回 一、可转换公司债券基本情况 （一）可转换公司债券发行、上市情况 经中国证券监督管理委员会（以下简称"中国证监会"）出具的《关于同意三羊 马（重庆）物流股份有限公司向不特定对象发行可转换公司债券注册的批复》（证监 许可〔2023〕1981 号）同意注册，三羊马（重庆）物流股份有限公司（以下简称"公 司"）于 2023 年 10 月 26 日向不特定对象发行了 210.00 万张可转换公司债券，债券 期限为 6 年，每张面值为人民币 100 元，募集资金总额为人民币 21,000.00 万元。经 深圳证券交易所同意，上述可转换公司债券于 2023 年 11 月 17 日起 ...

Core Viewpoint - The railway and highway sector experienced a decline of 0.39% on October 24, with Guangshen Railway leading the drop, while the overall stock market showed positive performance with the Shanghai Composite Index rising by 0.71% and the Shenzhen Component Index increasing by 2.02% [1][3]. Group 1: Market Performance - The Shanghai Composite Index closed at 3950.31, up 0.71% [1]. - The Shenzhen Component Index closed at 13289.18, up 2.02% [1]. - The railway and highway sector saw a decline of 0.39% compared to the previous trading day [1]. Group 2: Individual Stock Performance - The top-performing stock in the railway and highway sector was Sanfengsi, closing at 48.70 with a gain of 3.46% [1]. - Chongqing Road and Bridge closed at 6.44, up 1.58% [1]. - Anhui Expressway closed at 14.89, up 1.50% [1]. - Longjiang Transportation closed at 3.64, up 1.11% [1]. - Guangdong Expressway A closed at 11.75, up 1.03% [1]. - Other notable performances include Dazhong Transportation at 6.03 (up 1.01%) and Shandong Expressway at 9.32 (up 0.87%) [1]. Group 3: Capital Flow - The railway and highway sector experienced a net outflow of 98.87 million yuan from main funds, while retail funds saw a net inflow of 123 million yuan [3]. - Speculative funds had a net outflow of 24.10 million yuan [3].

Core Viewpoint - The stock of Sanyangma has experienced a decline of 2.00% on October 23, 2023, with significant trading activity and a notable year-to-date price increase of 69.82% despite recent short-term declines [1][2]. Group 1: Stock Performance - As of October 23, 2023, Sanyangma's stock price is 46.99 CNY per share, with a market capitalization of 3.851 billion CNY [1]. - The stock has seen a year-to-date increase of 69.82%, but has declined by 8.17% over the last five trading days, 3.79% over the last 20 days, and 1.18% over the last 60 days [1]. - The company has appeared on the "Dragon and Tiger List" twice this year, with the most recent instance on September 4, 2023, showing a net buy of -70.032 million CNY [1]. Group 2: Company Overview - Sanyangma Logistics Co., Ltd. was established on September 6, 2005, and went public on November 30, 2021. It is located in Chongqing, China [2]. - The company's main business includes comprehensive transportation services for complete vehicles (60.54% of revenue), non-automotive goods transportation services (36.66%), and warehousing services (1.60%) [2]. - As of September 19, 2023, the number of shareholders is 20,200, an increase of 21.79%, with an average of 1,458 circulating shares per person, a decrease of 17.89% [2]. Group 3: Financial Performance - For the first half of 2025, Sanyangma reported revenue of 777 million CNY, representing a year-on-year growth of 48.13%. However, the net profit attributable to the parent company was -12.9996 million CNY, a decrease of 226.66% year-on-year [2]. - The company has distributed a total of 57.6294 million CNY in dividends since its A-share listing, with 25.6134 million CNY distributed over the past three years [3].

Group 1 - The company has received notification from its controlling shareholder, Qiu Hongyang, regarding the pledge of a portion of his shares [2] - As of the announcement date, the total number of shares pledged by Qiu Hongyang and his concerted actor, Qiu Honggang, is based on the total share capital of 80,051,007 shares as of June 30, 2025 [3] - The pledged shares do not involve significant asset restructuring or performance compensation obligations [4] Group 2 - Qiu Hongyang's credit status is good, and he has the ability to fulfill obligations, with no risk of forced liquidation or transfer of the pledged shares, ensuring that the company's actual control will not change [4] - The company will continue to monitor changes in share pledges and related risks, fulfilling its information disclosure obligations in a timely manner [5] - The board of directors of the company issued this announcement on October 22, 2025 [8]