Group 1 - The company reported a revenue of 1.172 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 44.60% [1] - The net loss attributable to shareholders of the listed company was 11.7939 million yuan [1] - The net loss attributable to shareholders, after deducting non-recurring gains and losses, was 14.1533 million yuan [1]

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].