Core Insights - Ningbo Huaxiang (002048) reported a decline in Q3 2025 revenue by 3.01% year-on-year, totaling 6.345 billion yuan, while net profit increased by 149.27% to 462 million yuan [1] - For the first three quarters of 2025, the company achieved a revenue of 19.224 billion yuan, reflecting a year-on-year growth of 5.88%, but net profit fell by 87.68% to 88.726 million yuan [1] - The basic earnings per share stood at 0.109 yuan, with net cash flow from operating activities increasing by 58.66% to 1.679 billion yuan [1] Financial Performance - Q3 2025 net profit growth of 149.27% compared to the same period last year, with a 163.06% increase in net profit after excluding non-recurring gains and losses, primarily due to the sale of European business and improved performance of self-owned brands [1] - For the first nine months of 2025, net profit decreased by 87.68%, but after excluding non-recurring losses, it showed a growth of 63.89%, indicating effective cost reduction and efficiency improvements domestically [1] - The non-recurring loss of 1.023 billion yuan in the first half of 2025 was attributed to the divestiture of European operations and the North American repurchase issue [1]

宁波华翔10月28日公告，2025年第三季度实现营业收入63.45亿元，同比下降3.01%；归属于上市公司股 东的净利润4.62亿元，同比增长149.27%；基本每股收益0.568元。前三季度实现营业收入192.24亿元， 同比增长5.88%；归属于上市公司股东的净利润8872.61万元，同比下降87.68%；基本每股收益0.109 元。 ...

董事会公告 证券代码:002048 证券简称:宁波华翔 公告编号:2025-077 宁波华翔电子股份有限公司 提供担保额度的公告 本公司全体董事、监事、高级管理人员保证公告内容真实、准确和完整， 并对公告中的虚假记载、误导性陈述或者重大遗漏承担责任。 一、担保情况概述 Northern Engraving Corporation（以下简称"NEC"）是宁波华翔在美国的全资 子公司，为保证经营计划的顺利开展以及日常生产的需要，本公司八届董事会第二十五 次会议审议通过《关于为美国全资子公司向银行借款提供担保额度的议案》，同意为 NEC向银行借款提供最高额保证担保，额度金额不超过3,000万美元，担保期限12个月。 根据《深圳证券交易所主板股票上市规则》和公司章程的相关规定，本次担保事项 经公司董事会审议通过后，无需提交公司股东会审议。 | 担保方 | 被担保方 | 担保方 | 被担保方 | 截至目前 | 本次新增 | 担保额度 | 是否 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 持股比例 | 最近一期资 产负债率 | 担保余额 | 担保额度 ...

宁波华翔公告，第三季度营收为63.45亿元，同比下降3.01%；净利润为4.62亿元，同比增长149.27%。 前三季度营收为192.24亿元，同比增长5.88%；净利润为8872.61万元，同比下降87.68%。 ...

Financial Performance - In Q3 2025, the company's operating revenue was CNY 6,345,130,000, a decrease of 3.01% compared to the same period last year[5] - The net profit attributable to shareholders was CNY 462,331,485.97, representing a significant increase of 149.27% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 471,026,848.00, an increase of 163.06% compared to the previous year[5] - For the first three quarters of 2025, the net profit attributable to shareholders decreased by 87.68% year-on-year, while the net profit after deducting non-recurring gains and losses increased by 63.89%[8] - The company reported a basic earnings per share of CNY 0.568, up 149.23% year-on-year[5] - Net profit for the current period was ¥250,590,262.73, down 74.6% from ¥980,674,354.79 in the previous period[20] - The net profit attributable to the parent company shareholders was CNY 88,726,138.83, compared to CNY 720,459,253.81 in the previous period, indicating a significant decline[21] - Basic and diluted earnings per share decreased to CNY 0.1090 from CNY 0.8850 in the previous period[21] Cash Flow and Assets - The net cash flow from operating activities for the first three quarters of 2025 was CNY 1,679,497,000, an increase of 58.66% compared to the same period last year[8] - Cash inflow from sales of goods and services was CNY 18,981,600,865.26, compared to CNY 18,377,862,557.20 in the previous period, reflecting a growth of approximately 3.3%[22] - The net cash flow from investing activities was -CNY 1,081,305,387.85, an improvement from -CNY 1,323,972,458.61 in the previous period[23] - The net cash flow from financing activities was -CNY 1,491,570,699.89, worsening from -CNY 696,027,558.67 year-over-year[24] - The cash and cash equivalents at the end of the reporting period amount to 1,912,802,086.57 RMB, down from 2,830,981,025.35 RMB at the beginning of the period[15] - The total cash and cash equivalents at the end of the period were CNY 1,795,062,202.06, down from CNY 1,994,348,667.16[24] Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 26,075,069,694.91, a decrease of 10.57% from the end of the previous year[5] - Total assets decreased to ¥26,075,069,694.91 from ¥29,156,019,017.55, a reduction of 10.5%[17] - Total liabilities decreased to ¥13,481,398,850.04 from ¥16,222,150,932.68, reflecting a decline of 17.0%[17] - Current assets totaled ¥14,058,490,755.50, down from ¥15,984,674,034.58, a decrease of 12.1%[17] Shareholder Information - The total number of common shareholders at the end of the reporting period is 58,197[10] - The largest shareholder, Ningbo Fengmei Equity Investment Co., Ltd., holds 24.54% of shares, totaling 199,718,951 shares, with 112,659,699 shares pledged[10] - The company has not disclosed any changes in the participation of major shareholders in margin trading and securities lending[11] - The company has not identified any related party relationships among the top shareholders, except for known associations[11] - The company has a total of 0 preferred shareholders at the end of the reporting period[12] Investments and Joint Ventures - The company established a joint venture, Ningbo Fengmei PEEK New Materials Co., Ltd., with a registered capital of 50 million RMB, where the company holds a 30% stake[12] - The company invested 15 million RMB in the joint venture and has preferential supply rights for products produced by the joint venture[12] Other Financial Metrics - The weighted average return on net assets for the reporting period was 4.05%, an increase from 1.37% in the same period last year[5] - Research and development expenses rose to ¥649,432,904.96, compared to ¥591,547,695.99, marking a 9.8% increase[20] - The company reported a financial expense of -¥11,079,754.79, a significant improvement from ¥94,531,137.77 in the previous period[20] - The total comprehensive income amounted to CNY 373,469,284.05, down from CNY 1,038,920,038.09 in the previous period[21] - The company received a notice from the Shenzhen Stock Exchange regarding the acceptance of its application for a specific object stock issuance[13] - The company completed the sale of its European business in the first half of 2025, which contributed to the reduction of losses compared to the previous year[8] - The company is focusing on optimizing its cash collection and payment processes to enhance efficiency[8] - The company reported a tax refund of CNY 116,094,122.60, compared to CNY 101,462,430.49 in the previous period[22] - Other comprehensive income attributable to the parent company was CNY 122,563,008.19, up from CNY 51,487,425.01 in the previous period[21]

董事会公告 一、董事会会议召开情况 宁波华翔电子股份有限公司(以下简称"公司")第八届董事会第二十五次会议 通知于2025年10月16日以邮件或传真等书面方式发出，会议于2025年10月27日下午3 点半在上海浦东以现场结合通讯的方式召开。会议应出席董事5名，亲自出席董事5名。 董事长周晓峰先生主持会议，公司高管列席了本次会议。本次会议的召开符合《中华 人民共和国公司法》和《公司章程》的有关规定。 二、董事会会议审议情况 股票代码：002048 股票简称：宁波华翔 公告编号：2025-074 宁波华翔电子股份有限公司 第八届董事会第二十五次会议决议公告 本公司全体董事、监事、高级管理人员保证公告内容真实、准确和完整，并对公 告中的虚假记载、误导性陈述或者重大遗漏承担责任。 表决结果：5 票同意，0 票反对，0 票弃权。 3、审议通过《关于为美国全资子公司向银行借款提供担保额度的议案》 会议以举手表决的方式,审议通过了如下议案： 1、审议通过《公司 2025 年第三季度报告》。 与会董事认真、仔细地审阅了公司 2025 年第三季度报告，确认该报告内容真实、 准确和完整，第三季度报告详见公司指定信息披露网站（ht ...

董事会公告 本公司全体董事、监事、高级管理人员保证公告内容真实、准确和完整，并对 公告中的虚假记载、误导性陈述或者重大遗漏承担责任。 重要内容提示： 1、本次回购价格上限由人民币 19.69 元/股（含）调整为人民币 51.42 元/股（含）， 调整后的回购价格上限不高于董事会审议通过《关于调整回购价格上限及延长实施期 限的议案》决议前 30 个交易日公司股票交易均价的 150%。 2、公司拟对回购股份实施期限延长 6 个月，延期至 2026 年 6 月 3 日止。 证券代码:002048 证券简称:宁波华翔 公告编号:2025-075 宁波华翔电子股份有限公司 关于调整回购价格上限及延长实施期限的公告 3、除调整回购价格上限及延长回购实施期限外，回购股份方案的其他内容不变。 一、回购股份的基本情况 宁波华翔电子股份有限公司（以下简称"公司"）于2024年11月13日、2024年12月4日 分别召开第八届董事会第十三次会议、2024年第一次临时股东大会，审议通过了《关于 回购公司股份方案的议案》，同意公司使用自有资金和专项贷款资金以集中竞价交易方 式回购公司股份，用于注销并减少公司注册资本。本次回购资金总额为 ...

Core Viewpoint - The report from the招商中证红利交易型开放式指数基金 indicates a net value growth rate of 9.21% over the past year, with significant changes in the top ten holdings compared to the previous quarter [1]. Group 1: Fund Performance - The fund achieved a net value growth rate of 9.21% over the last year [1]. - The report highlights the addition of new stocks to the top ten holdings, including 潞安环能, 中谷物流, 农业银行, 南钢股份, and 建设银行 [1]. Group 2: Changes in Top Holdings - New entries in the top ten holdings include: - 潞安环能 (669709): 7.7764 million shares valued at 1.11 billion - 中谷物流 (603560): 10.0744 million shares valued at 1.1 billion - 农业银行 (601288): 161.424 million shares valued at 1.08 billion - 南钢股份 (600282): 199.957 million shares valued at 1.05 billion - 建设银行 (601939): 117.632 million shares valued at 1.01 billion [2]. - 宁波华翔 (002048) saw an increase in holdings by 56.7 thousand shares, making it the largest holding at 2.73 billion [1][2]. - Other stocks that exited the top ten holdings include 成都银行, 兴业银行, 大秦铁路, 江苏银行, and 交通银行 [1][2].

Core Insights - Ningbo Huaxiang's stock price increased by 2.22% on October 22, reaching 33.08 CNY per share, with a total market capitalization of 26.922 billion CNY [1] - The company has seen a year-to-date stock price increase of 172.22%, but has experienced a decline of 1.72% over the last five trading days and 4.67% over the last twenty days [1] - Ningbo Huaxiang's main business involves the development, production, and sales of automotive parts, with revenue composition including interior parts (53.89%), exterior parts (18.06%), metal parts (17.68%), electronic parts (8.28%), and others (2.09%) [1] Financial Performance - For the first half of 2025, Ningbo Huaxiang reported revenue of 12.879 billion CNY, a year-on-year increase of 11.03%, but a net profit attributable to shareholders of -374 million CNY, a decrease of 170.16% year-on-year [2] - The company has distributed a total of 4.38 billion CNY in dividends since its A-share listing, with 1.099 billion CNY distributed in the last three years [3] Shareholder Information - As of June 30, 2025, the number of shareholders increased by 29.27% to 48,200, while the average circulating shares per person decreased by 22.64% to 14,725 shares [2] - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 38.3112 million shares, an increase of 10.0031 million shares from the previous period [3]

Core Viewpoint - Ningbo Huaxiang Electronics Co., Ltd. plans to raise up to 2.921 billion yuan through a private placement of A-shares to enhance its production capacity and strengthen its core competitiveness in the automotive parts market, particularly in the growing electric vehicle sector [1][2]. Group 1: Fundraising and Investment Plans - The company aims to invest over half of the raised funds into expanding production capacity for key products, including 1.151 billion yuan for the Wuhu automotive parts intelligent manufacturing project, which will add annual production capacity of 400,000 battery pack housings, 500,000 body structure components, and 200,000 interior parts [2]. - The Chongqing automotive interior parts production base will receive 400 million yuan, expected to add 440,000 sets of interior parts production capacity annually upon completion [2]. - An additional 477 million yuan will be allocated for the construction of a research and development center, focusing on the second growth curve in smart chassis and humanoid robots [2]. Group 2: Market Trends and Strategic Positioning - The demand for automotive interior parts is increasing due to consumer preferences for functionality, comfort, and intelligence, making it a key area for differentiation among manufacturers [1]. - The company has a strong market foundation, with interior parts accounting for over 50% of total revenue, and is positioned to benefit from the expanding domestic automotive market and deepening relationships with leading OEMs [1]. - The rise of electric vehicles and domestic brands presents significant growth opportunities for the company, particularly in battery pack housings and lightweight body structure components [1][2]. Group 3: Future Development and Technological Focus - The company plans to leverage its technological expertise in automotive chassis and electronics to capture opportunities in the rapidly growing smart chassis market, which has substantial domestic replacement potential [2]. - In the humanoid robotics sector, the company aims to establish partnerships and develop technologies related to lightweighting and assembly, while also building a data collection center to support ecosystem development [3].