Market Overview - The entertainment products sector rose by 1.04% on October 31, with Guangbo Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Individual Stock Performance - Guangbo Co., Ltd. (002103) closed at 9.60, up 3.34% with a trading volume of 175,900 shares and a turnover of 167 million yuan [1] - Other notable performers included: - Gaole Co., Ltd. (002348) at 4.40, up 3.04% [1] - Shifeng Culture (002862) at 18.00, up 2.80% [1] - Quanyun Laser (300220) at 15.54, up 2.71% [1] - Tianyuan Pet (301335) at 30.00, up 2.67% [1] Capital Flow Analysis - The entertainment products sector experienced a net outflow of 73.2 million yuan from institutional investors, while retail investors saw a net inflow of 106 million yuan [2][3] - The capital flow for individual stocks showed: - Jinling Sports (300651) had a net inflow of 13.37 million yuan from institutional investors [3] - Guangbo Co., Ltd. (002103) saw a net inflow of 10.09 million yuan [3] - Shifeng Culture (002862) had a net inflow of 2.65 million yuan [3]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 001238 | 浙江正特 | 49.33 | -3.08% | 8368.0 | 4190.98万 | | 301011 | 华立科技 | 25.65 | -2.88% | 3.24万 | 8356.58万 | | 002862 | 实丰文化 | 17.51 | -2.78% | 4.70万 | 8309.58万 | | 300703 | 创源股份 | 27.41 | -2.42% | 6.67万 | 1.84亿 | | 301335 | 天元宠物 | 29.22 | -2.21% | 2.26万 | 6656.51万 | | 002678 | 珠江钢琴 | 4.99 | -2.16% | 42.16万 | 2.13亿 | | 002575 | 群兴玩具 | 6.07 | -2.10% | 24.94万 | 1.53亿 | | 002348 | 高乐股份 | 4.27 | -1.61% | 18.20万 | 7816.30万 | | 002899 ...

Core Viewpoint - Guangbo Co., Ltd. has shown steady growth in its operating performance for the first three quarters of 2025, with significant increases in revenue and net profit, indicating successful business transformation and growth potential [1][4]. Financial Performance - The company achieved operating revenue of 1.839 billion yuan, a year-on-year increase of 4.59% [1]. - Net profit attributable to shareholders reached 125 million yuan, up 18.87% year-on-year [1]. - The net profit excluding non-recurring gains and losses was 106 million yuan, reflecting a growth of 10.67% [1]. - In Q3 alone, operating revenue increased by 8.71%, and net profit surged by 52.00% year-on-year, highlighting the effectiveness of the company's transformation [1]. Market Position and Strategy - Guangbo is transitioning from a traditional stationery manufacturer to a cultural and creative enterprise, with the trendy toy business becoming a core growth driver [1][4]. - The company is strategically expanding its trendy toy product lines, including badges, cards, and plush toys, to create a comprehensive ecosystem that caters to all age groups and consumption scenarios [2]. - The company employs a dual strategy in IP operations, leveraging both major and niche IPs to create a differentiated competitive advantage [2]. Brand Development - Guangbo has established a diverse sub-brand matrix, including "kinbor," "fizz," and "papiest," focusing on emotional value and social attributes to meet the personalized needs of young consumers [2]. - The company is enhancing its marketing efforts through an integrated online and offline promotion system, utilizing social media and KOLs to boost brand awareness [2]. Global Expansion - The company has set up production bases in Vietnam, Cambodia, and Malaysia, creating a multi-regional production framework to respond flexibly to global supply chain fluctuations [3]. - Future plans include expanding the Vietnam production base to optimize cost structures and reduce operational risks [3]. Industry Outlook - The trendy toy market in China is projected to grow significantly, with estimates suggesting a market size exceeding 87.7 billion yuan by 2025 and reaching 110.1 billion yuan by 2026, maintaining a high compound annual growth rate of over 24% [1][3]. - As the trendy toy sector gains popularity, companies with strong IP matrices and excellent operational capabilities are expected to benefit first from this growth [3].

Core Viewpoint - Guangbo Co., Ltd. is a leading comprehensive stationery supplier in China, with a full industry chain advantage, covering various product categories including office stationery and printing products [1] Group 1: Business Performance - In Q3 2025, Guangbo's revenue reached 1.839 billion yuan, ranking 3rd in the industry, with the top competitor, Morning Glory, generating 17.328 billion yuan [2] - The company's net profit for the same period was 125 million yuan, placing it 4th in the industry, while the industry leader reported a net profit of 973 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Guangbo's debt-to-asset ratio was 45.32%, higher than the industry average of 43.06% [3] - The gross profit margin for the same period was 18.36%, which is below the industry average of 27.82% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 9.36% to 55,400, while the average number of circulating A-shares held per shareholder increased by 10.32% to 6,862.04 [5] - The top circulating shareholder, Shenwan Lingshin Consumption Growth Mixed A, entered the top ten with 1.6914 million shares [5] Group 4: Executive Compensation - The chairman, Wang Liping, received a salary of 1.4432 million yuan in 2024, an increase of 240,100 yuan from the previous year [4] Group 5: Business Highlights and Forecast - The company is focusing on IP derivative products and has multiple popular domestic and international IPs [5] - Revenue forecasts for 2025 to 2027 are adjusted to 2.9 billion, 3.2 billion, and 3.6 billion yuan, with net profits of 170 million, 220 million, and 270 million yuan respectively [5]

智通财经APP讯，广博股份(002103.SZ)发布2025年三季度报告，前三季度，公司实现营业收入18.39亿 元，同比增长4.59%。归属于上市公司股东的净利润1.25亿元，同比增长18.87%。归属于上市公司股东 的扣除非经常性损益的净利润1.06亿元，同比增长10.67%。 ...

格隆汇10月29日丨广博股份(002103.SZ)公布三季度报告，前三季营业收入18.39亿元，同比增长4.59%， 归属于上市公司股东的净利润1.25亿元，同比增长18.87%，归属于上市公司股东的扣除非经常性损益的 净利润1.06亿元，同比增长10.67%。 ...

证券代码: 002103 证券简称:广博股份 公告编号：2025-056 广博集团股份有限公司 关于使用闲置自有资金进行委托理财的进展公告 根据上述决议，现将公司理财产品购买进展情况公告如下： 一、购买理财产品概况 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。 广博集团股份有限公司（以下简称"公司"）于2025年4月10日 召开了公司第八届董事会第十七次会议，并于2025年5月9日召开了 2024年度股东大会，审议通过了《关于使用闲置自有资金进行委托理 财的议案》，公司（包括全资子公司及控股子公司，下同）在不影响 正常经营资金需求和确保资金安全的前提下，使用部分闲置自有资金 进行委托理财，总额度不超过50,000万元人民币，投资期限不超过12 个月，在额度及期限范围内可循环滚动使用。具体内容详见2025年4 月12日公司刊登于《证券时报》及巨潮资讯网（www.cninfo.com.cn） 的《关于使用闲置自有资金进行委托理财的公告》。 公司全资子公司宁波广博纸制品有限公司于 2025 年 10 月 28 日以 闲置自有资金人民币 3,000 万元认购了浙商银 ...

第八届董事会第二十次会议决议公告 广博集团股份有限公司（以下简称"公司"）第八届董事会第二 十次会议通知于2025年10月24日以书面和电子邮件送达的方式发出， 会议于2025年10月29日以通讯表决方式在公司会议室召开。本次会议 由董事长王利平先生召集和主持，会议应出席董事9名，实际出席董 事9名。本次会议的通知、召集、召开、审议、表决均符合有关法律、 行政法规、部门规章、规范性文件和公司章程的相关规定。 二、会议审议情况 经出席会议董事表决，一致通过如下决议： 1、审议通过公司《2025 年第三季度报告》 具体内容详见同日披露于巨潮资讯网(www.cninfo.com.cn)的 《广博集团股份有限公司2025年第三季度报告》。 证券代码: 002103 证券简称:广博股份 公告编号:2025-054 广博集团股份有限公司 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、会议召开情况 本议案已事前经董事会审计委员会审议通过。 表决结果：同意9票，反对0票，弃权0票。 三、备查文件 1、公司第八届董事会第二十次会议决议 1 特此公告。 广博集团股份有限公司 ...

Financial Performance - The company's revenue for Q3 2025 reached ¥667,467,409.56, an increase of 8.71% year-on-year[7] - Net profit attributable to shareholders for Q3 2025 was ¥49,118,753.71, representing a significant growth of 52.00% compared to the same period last year[7] - The net profit after deducting non-recurring gains and losses for Q3 2025 was ¥45,100,479.75, up 66.63% year-on-year[7] - For the first nine months of 2025, the company achieved a total revenue of ¥1,838,748,112.84, an increase of 4.59% year-on-year[12] - The basic earnings per share for Q3 2025 was ¥0.0923, reflecting a growth of 52.31% compared to the previous year[7] - Total operating revenue for the current period reached ¥1,838,748,112.84, an increase of 4.6% compared to ¥1,758,024,349.55 in the previous period[26] - Net profit for the current period was ¥125,252,855.81, compared to ¥105,454,101.83 in the previous period, representing a growth of 18.8%[27] Cash Flow and Liquidity - The company's cash flow from operating activities for the first nine months of 2025 was ¥75,308,873.20, a substantial increase of 189.99% year-on-year[7] - The net cash flow from operating activities for the first nine months of 2025 was CNY 75,308,873.20, an increase of 189.99% compared to CNY 25,969,392.73 in the same period of 2024, primarily due to an increase in tax refunds received[15] - The net cash flow from financing activities for the first nine months of 2025 was CNY 65,124,532.18, a significant improvement from a negative CNY 86,231,705.38 in the same period of 2024, reflecting a 175.52% increase in financing amounts[15] - Cash inflow from operating activities totaled CNY 2,377,135,327.97, compared to CNY 2,091,107,096.82 last year[30] - Cash outflow from investing activities was CNY 2,151,027,791.33, an increase from CNY 1,837,031,258.79 in the previous period[31] - The ending balance of cash and cash equivalents was CNY 230,363,137.10, compared to CNY 204,621,924.91 in the previous period[32] - Cash received from the recovery of investments was CNY 2,077,480,910.54, up from CNY 1,752,784,654.85[31] - The company received CNY 598,307,693.84 in cash from borrowings, an increase from CNY 375,284,523.81 last year[31] Assets and Liabilities - The total assets at the end of Q3 2025 were ¥2,195,619,366.74, a decrease of 2.86% from the end of the previous year[7] - Total assets decreased to ¥2,195,619,366.74 from ¥2,260,189,759.75, a decline of about 2.9%[25] - Total liabilities decreased to ¥995,145,039.43 from ¥1,205,549,506.95, a reduction of approximately 17.4%[24] - Accounts receivable decreased to ¥463,905,177.21 from ¥624,235,897.40, a reduction of approximately 25.7%[23] - The company reported a decrease in inventory from ¥177,973,538.26 to ¥156,119,067.69, a decline of about 12.3%[23] Strategic Initiatives - The company has been focusing on innovation and expanding its market presence, particularly in the trendy toy sector, to enhance sales and profitability[12] - The company has established a new subsidiary in Indonesia with a registered capital of USD 1 million to better respond to market demands and policy changes[19] - The company has established a subsidiary in the Netherlands with a registered capital of €86,000 in September 2025 as part of its globalization strategy[19] - The company plans to expand its market presence and invest in new technologies, although specific details were not provided in the call[26] Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 55,411, with the top ten shareholders holding significant stakes, including Wang Liping with 23.02%[16] - Wang Liping, the chairman, holds 122,987,603 shares, of which 27,000,000 are pledged[16] Changes in Governance - The company has revised its articles of association and dissolved the supervisory board as of September 2025, transferring its responsibilities to the audit committee of the board[20] Financial Ratios and Margins - The gross profit margin for the main business in Q3 2025 increased by 1.86 percentage points compared to the same period last year[12] - Research and development expenses rose to ¥18,404,073.54 from ¥14,447,316.43, indicating a year-over-year increase of 27.5%[26] - The company reported a significant increase in financial income, with a decrease in financial expenses by 121.55% year-on-year[14] - Total operating costs amounted to ¥1,719,490,892.30, up from ¥1,652,238,445.89, reflecting a year-over-year increase of 4.0%[26] - The total comprehensive income for the period was CNY 109,526,527.56, an increase from CNY 103,372,040.98 in the previous period[28] - Basic and diluted earnings per share increased to CNY 0.2368 from CNY 0.1982[28]

证券代码: 002103 证券简称:广博股份 公告编号：2025-053 广博集团股份有限公司 关于使用闲置自有资金进行委托理财的进展公告 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。 广博集团股份有限公司（以下简称"公司"）于2025年4月10日 召开了公司第八届董事会第十七次会议，并于2025年5月9日召开了 2024年度股东大会，审议通过了《关于使用闲置自有资金进行委托理 财的议案》，公司（包括全资子公司及控股子公司，下同）在不影响 正常经营资金需求和确保资金安全的前提下，使用部分闲置自有资金 进行委托理财，总额度不超过50,000万元人民币，投资期限不超过12 个月，在额度及期限范围内可循环滚动使用。具体内容详见2025年4 月12日公司刊登于《证券时报》及巨潮资讯网（www.cninfo.com.cn） 的《关于使用闲置自有资金进行委托理财的公告》。 根据上述决议，现将公司理财产品购买进展情况公告如下： 一、购买理财产品概况 公司于 2025 年 10 月 23 日以人民币 1,000 万元向建信理财有限责 任公司（以下简称"建信理财"）购买了理财 ...