002115 三维通信股份有限公司 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 三维通信股份有限公司（以下简称"公司"）第七届董事会第十七次会议通 知于 2025 年 10 月 17 日以书面传真、电话、专人送达等方式发出，会议于 2025 年 10 月 24 日在杭州市滨江区火炬大道 581 号公司会议室以现场会议结合通讯表 决方式召开，应参加会议董事 5 人，实际参加会议的董事 5 人。本次会议召开程 序符合《公司法》和《公司章程》的规定。会议以书面表决的方式，审议并通过 了以下议案： 一、审议通过了《公司 2025 年第三季度报告》 公司按照《公司法》《深圳证券交易所股票上市规则》《深圳证券交易所上 市公司自律监管指引第 1 号——主板上市公司规范运作》《深圳证券交易所上市 公司自律监管指南第 1 号——业务办理》等法律法规的规定，编制完成了《2025 年第三季度报告》，报告内容真实、准确、完整地反映公司实际情况，符合相关 法律、法规及规范性文件的规定。 具体内容详见公司于 2025 年 10 月 28 日在巨潮资讯网（www.cninfo.com. ...

Core Viewpoint - The company reported a decline in revenue for the first three quarters of 2025, while net profit showed significant growth compared to the previous year [1] Financial Performance - The company achieved operating revenue of 7.252 billion yuan, a year-on-year decrease of 14.89% [1] - The net profit attributable to shareholders was 2.8727 million yuan, reflecting a year-on-year increase of 111.67% [1] - Basic earnings per share were 0.0035 yuan, which represents a year-on-year growth of 111.44% [1]

Financial Performance - The company's operating revenue for Q3 2025 was ¥2,842,130,162.05, representing a year-on-year increase of 7.31%[5] - Net profit attributable to shareholders for Q3 2025 was ¥255,898.06, a significant increase of 100.91% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥5,276,830.53, a decrease of 85.25% year-on-year[5] - The company reported a 14.89% decrease in operating revenue for the first nine months of 2025, totaling ¥7,252,057,632.04, primarily due to a decline in internet business[9] - Total operating revenue for the current period is ¥7,252,057,632.04, a decrease of 15% compared to ¥8,521,235,454.13 in the previous period[19] - Net profit for the current period is ¥15,160,878.41, compared to a net loss of ¥2,760,564.49 in the previous period, indicating a significant turnaround[20] - The company reported a basic earnings per share of ¥0.0035, recovering from a loss of ¥0.0306 per share in the previous period[21] Assets and Liabilities - Total assets as of September 30, 2025, amounted to ¥3,877,506,421.98, reflecting a 2.85% increase from the end of the previous year[5] - Total current assets amount to ¥2,327,511,466.92, an increase from ¥2,153,454,134.30 at the beginning of the period[15] - Total liabilities increased to ¥1,703,209,693.82 from ¥1,589,575,154.29, marking an increase of approximately 7.1%[17] - The company’s total liabilities increased by 87.35% to ¥289,665,529.46 due to new borrowings during the period[9] - Total current liabilities increased to ¥1,574,171,559.18 from ¥1,425,963,975.90[16] - Short-term borrowings rose significantly to ¥289,665,529.46 from ¥154,615,566.39, indicating a rise of approximately 87.2%[16] - Long-term borrowings decreased to ¥78,081,069.96 from ¥114,903,863.44[16] Cash Flow - The company’s cash flow from operating activities for the year-to-date was -¥80,375,739.74, a decline of 137.40% compared to the same period last year[9] - Cash flow from operating activities shows a net outflow of ¥80,375,739.74, contrasting with a net inflow of ¥214,935,234.64 in the previous period[22] - Net cash flow from investing activities was $12.21 million, a significant improvement from a net outflow of $92.09 million in the previous period[23] - Cash inflow from financing activities totaled $595.58 million, compared to $304.49 million in the prior period, indicating a 95.4% increase[23] - Net cash flow from financing activities was $83.18 million, recovering from a net outflow of $86.44 million in the previous period[23] - The total cash and cash equivalents at the end of the period amounted to $527.40 million, down from $763.47 million year-over-year[23] - Cash outflow for investing activities was $540.31 million, a decrease from $875.00 million in the previous period[23] - Cash outflow for financing activities was $512.41 million, compared to $390.93 million in the prior period, reflecting a 31.1% increase[23] - The net increase in cash and cash equivalents for the period was $27.48 million, compared to $32.35 million in the previous period[23] Shareholder Information - Total number of common shareholders at the end of the reporting period is 179,178[12] - The largest shareholder, Li Yuelun, holds 9.65% of shares, totaling 78,262,700 shares[12] Other Financial Metrics - The company received government subsidies amounting to ¥4,614,643.30 in Q3 2025, contributing to its financial performance[6] - The company’s basic earnings per share for Q3 2025 was ¥0.0003, an increase of 100.86% year-on-year[5] - The company recorded a decrease in research and development expenses to ¥87,680,259.20 from ¥108,793,447.16, a reduction of approximately 19.4%[19] - Other comprehensive income attributable to the parent company showed a negative net amount of ¥23,723,149.76, worsening from a negative ¥15,231,839.29 in the previous period[21] - The company achieved investment income of ¥15,478,405.82, slightly down from ¥16,377,211.81 in the previous period[19] - The impact of exchange rate changes on cash and cash equivalents was a positive $12.47 million, contrasting with a negative impact of $4.05 million in the previous period[23] - The company’s cash outflow for the acquisition of fixed assets and intangible assets was $85.29 million, down from $196.00 million in the previous period[23]

Core Insights - The stock of Sanwei Communication increased by 5.00% with a trading volume of 3.005 billion yuan and a turnover rate of 33.08% on the day, indicating significant market interest [2] - The stock was listed on the Dragon and Tiger list due to a daily fluctuation of 16.52%, with institutional net purchases amounting to 23.01 million yuan and net purchases from the Shenzhen Stock Connect totaling 48.12 million yuan [2] - Over the past six months, the stock has appeared on the Dragon and Tiger list 14 times, with an average price increase of 1.32% the following day and an average increase of 2.82% over the next five days [3] Trading Activity - The top five trading departments accounted for a total transaction volume of 486 million yuan, with a net purchase of 39.57 million yuan [2] - The main buying departments included three institutional special seats, which collectively bought 108 million yuan and sold 85.02 million yuan, resulting in a net purchase of 23.01 million yuan [2] - The latest margin trading data shows a total margin balance of 549 million yuan, with a financing balance of 549 million yuan and a securities lending balance of 0.59 million yuan [3] Fund Flow - The stock experienced a net inflow of 69.88 million yuan from main funds, with a significant inflow of 87.28 million yuan from large orders, while large orders saw a net outflow of 17.40 million yuan [3] - Over the past five days, the main funds have seen a net outflow of 57.70 million yuan [3] - The financing balance increased by 57.01 million yuan over the past five days, reflecting an increase of 11.59% [3]

Market Overview - On October 22, the communication services sector rose by 0.32% compared to the previous trading day, with Sanwei Communication leading the gains [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Stock Performance - Sanwei Communication (002115) closed at 12.39, up 5.00% with a trading volume of 2.4879 million shares and a transaction value of 3.005 billion [1] - Yuandao Communication (301139) closed at 21.93, up 2.00%, with a trading volume of 98,500 shares and a transaction value of 215 million [1] - Zhongbei Communication (603220) closed at 23.78, up 1.97%, with a trading volume of 129,500 shares and a transaction value of 305 million [1] - Other notable performers include Nanling Technology (300921) up 1.93% and China Unicom (600050) up 0.73% [1] Fund Flow Analysis - The communication services sector experienced a net outflow of 136 million from institutional investors, while retail investors saw a net inflow of 120 million [2] - The overall net inflow from speculative funds was 15.8 million [2] Individual Stock Fund Flow - Zhongbei Communication had a net inflow of 41.91 million from institutional investors, while retail investors had a net outflow of 31.29 million [3] - Sanwei Communication saw a net inflow of 27.44 million from institutional investors, with retail investors contributing a net inflow of 56.14 million [3] - Yuandao Communication had a net inflow of 18.47 million from institutional investors, but a significant net outflow of 31.14 million from retail investors [3]

Group 1 - The core viewpoint of the article highlights the surge in satellite internet concept stocks in the A-share market, with significant gains observed in specific companies [1] Group 2 - Sanwei Communication reached the daily limit increase in stock price [1] - Aerospace Hongtu, Xingwang Yuda, and Aerospace Development also experienced stock price increases [1]

Core Viewpoint - The satellite internet sector experienced significant movement, with companies like Sanwei Communication hitting the daily limit up, driven by the completion of the first "Xiong'an-made" satellite, "Xiong'an No. 1" [1] Group 1: Market Movement - The satellite internet concept saw a surge in stock prices, particularly for Sanwei Communication, which reached its daily limit up [1] - Other companies in the sector, including Aerospace Hongtu, Zhenyou Technology, Quanxin Co., and Chuangyuan Xinke, also experienced rapid increases in their stock prices [1] Group 2: Industry Development - The completion of "Xiong'an No. 1" marks a significant milestone for the Xiong'an New Area's aerospace information industry, indicating a major leap in intelligent manufacturing capabilities from "0 to 1" [1] - This development is expected to further accelerate the gathering of satellite internet industry chain enterprises in the region [1]

Core Viewpoint - The satellite navigation sector experienced a short-term surge, with companies like Sanwei Communication hitting the daily limit, while Aerospace Hongtu, Zhenyou Technology, Tianli Composite, Quanxin Co., and Chuangyuan Xinke also saw increases. This movement is attributed to the launch of the first self-made satellite in Xiong'an, which addresses challenges related to computing power and energy dynamics [1] Group 1 - The satellite navigation sector is witnessing a short-term rally [1] - Sanwei Communication reached its daily trading limit [1] - Other companies in the sector, including Aerospace Hongtu and Zhenyou Technology, also experienced stock price increases [1] Group 2 - The launch of Xiong'an's first self-made satellite is a significant development [1] - The satellite aims to solve issues related to computing power and energy dynamics [1]

Core Viewpoint - The stock of Sanwei Communication has experienced fluctuations, with a year-to-date increase of 76.24%, but a recent decline in revenue and profit indicates potential challenges ahead [1][2]. Group 1: Stock Performance - As of October 21, Sanwei Communication's stock price was 11.72 CNY per share, with a market capitalization of 9.505 billion CNY [1]. - The stock has seen a net outflow of 59.76 million CNY in principal funds, with significant selling pressure compared to buying [1]. - Year-to-date, the stock has risen by 76.24%, but it has decreased by 8.15% over the past 20 days [1]. Group 2: Financial Performance - For the first half of 2025, Sanwei Communication reported a revenue of 4.41 billion CNY, a year-on-year decrease of 24.91%, and a net profit of 2.62 million CNY, down 24.18% [2]. - The company has not distributed any dividends in the last three years, with a total payout of 372 million CNY since its A-share listing [3]. Group 3: Business Overview - Sanwei Communication, established in May 1993 and listed in February 2007, is primarily engaged in telecommunications equipment manufacturing and internet advertising [1]. - The revenue composition includes 90.27% from internet marketing, 4.81% from network optimization, 2.12% from satellite communication, and 1.96% from communication facility operations [1].

Market Overview - On October 16, the communication services sector declined by 0.25%, with Sanwei Communication leading the drop [1] - The Shanghai Composite Index closed at 3916.23, up 0.1%, while the Shenzhen Component Index closed at 13086.41, down 0.25% [1] Stock Performance - Key stocks in the communication services sector showed varied performance: - China Mobile (600941) closed at 107.81, up 0.64% with a trading volume of 80,600 shares and a turnover of 867 million yuan [1] - Sanwei Communication (002115) closed at 11.38, down 4.53% with a trading volume of 1,035,100 shares and a turnover of 1.192 billion yuan [2] - China Telecom (601728) closed at 6.83, up 0.44% with a trading volume of 1,056,700 shares and a turnover of 720 million yuan [1] - China Unicom (600050) closed at 5.50, down 0.18% with a trading volume of 2,246,800 shares and a turnover of 1.235 billion yuan [1] Capital Flow - The communication services sector experienced a net outflow of 629 million yuan from institutional investors, while retail investors saw a net inflow of 537 million yuan [2][3] - Notable capital flows included: - China Mobile saw a net inflow of 22.97 million yuan from institutional investors [3] - Puhua Technology (002544) had a net inflow of 20.09 million yuan from institutional investors [3] - Sanwei Communication experienced a significant net outflow of 11.92 billion yuan [2]