Core Viewpoint - Guotong Co., Ltd. is a leading enterprise in the PCCP industry in China, with strong technical research and production capabilities, and good product quality and market reputation [1] Group 1: Business Performance - In Q3 2025, Guotong's revenue was 444 million yuan, ranking 7th among 7 companies in the industry, significantly lower than the industry leader, Xibu Construction, which had 13.88 billion yuan [2] - The main business revenue composition includes PCCP pipe revenue of 156 million yuan, accounting for 82.05%, and PPP project construction and service revenue of 1.855 million yuan, accounting for 9.77% [2] - The net profit for the same period was -26.5 million yuan, ranking 4th in the industry, with the industry leader, Longquan Co., Ltd., reporting a net profit of 126 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Guotong's debt-to-asset ratio was 87.86%, higher than the previous year's 81.76% and the industry average of 66.98%, indicating significant debt pressure [3] - The gross profit margin for Q3 2025 was 32.45%, up from 28.60% in the previous year, and significantly above the industry average of 17.41%, reflecting strong profitability [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 9.05% to 19,500, while the average number of circulating A-shares held per household increased by 9.95% to 9,548.54 [5] Group 4: Management Compensation - The chairman, Jiang Shaobo, has not had a change in salary, while the general manager, Hang Yu, has a salary of 140,000 yuan for 2024 [4]

Market Overview - The cement sector experienced a decline of 0.8% on October 30, with Guotong Co. leading the drop [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Individual Stock Performance - Huanzi House saw a price increase of 3.69%, closing at 4.21, with a trading volume of 1.1626 million shares and a turnover of 483 million yuan [1] - Longquan Co. and Tapai Group also reported gains of 1.35% and 1.19%, closing at 5.25 and 8.47 respectively [1] - Conversely, Guotong Co. experienced the largest decline of 4.38%, closing at 14.40, with a trading volume of 147,000 shares and a turnover of 213 million yuan [2] Capital Flow Analysis - The cement sector saw a net outflow of 119 million yuan from institutional investors, while retail investors contributed a net inflow of 67.6 million yuan [2] - The main capital inflow was observed in Hainan Ruize, with a net inflow of 45.916 million yuan, while Fujian Cement had a net inflow of 32.156 million yuan [3] - Notably, Guotong Co. and Han Jian Heshan experienced significant net outflows of 39.214 million yuan and 46.399 million yuan respectively [3]

Market Overview - The cement sector experienced a decline of 0.41% on October 29, with Guotong Co. leading the drop [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Individual Stock Performance - Notable gainers in the cement sector included: - Hainan Ruize (002596) with a closing price of 4.06, up 3.31% and a trading volume of 948,000 shares [1] - Qingsong Jianhua (600425) closed at 4.68, up 0.65% with a trading volume of 338,900 shares [1] - Guotong Co. (002205) was the biggest loser, closing at 15.06, down 6.92% with a trading volume of 238,600 shares [2] - Other significant decliners included: - Sanhe Pipe Pile (003037) down 4.21% and Han Jian Heshan (603616) down 2.86% [2] Capital Flow Analysis - The cement sector saw a net outflow of 158 million yuan from institutional investors, while retail investors contributed a net inflow of 172 million yuan [2] - The capital flow for key stocks showed: - Conch Cement (600585) had a net outflow of 38.09 million yuan from institutional investors [3] - Hainan Ruize (002596) saw a net inflow of 25.39 million yuan from institutional investors [3]

Group 1 - The core point of the article is that Guotong Co., Ltd. (SZ 002205) held its 18th meeting of the 6th board of directors on October 27, 2025, to review the third quarter report for 2025 [1] - For the first half of 2025, the revenue composition of Guotong Co., Ltd. was as follows: Industrial accounted for 87.69%, municipal construction for 9.77%, other businesses for 1.4%, and construction installation services for 1.13% [1] - As of the time of reporting, Guotong Co., Ltd. had a market capitalization of 2.9 billion yuan [1]

Core Insights - The company reported a third-quarter revenue of 254 million, representing a year-on-year increase of 25.29% [1] - The net profit for the third quarter was 3.35 million, showing a significant year-on-year decline of 78.51% [1] - For the first three quarters, the total revenue reached 444 million, which is a year-on-year growth of 16.73% [1] - The net loss for the first three quarters was 21.93 million, which is a reduction of 28.75% compared to the previous year [1]

《新疆国统管道股份有限公司 2025 年第三季度报告》全文登载 于巨潮资讯网 http://www.cninfo.com.cn。同时，《2025 年第三季度报 告》还将登载于《证券时报》、《中国证券报》。 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。 新疆国统管道股份有限公司（以下简称"公司"）第六届监事会 第十七次会议通知于 2025 年 10 月 17 日以电子邮件方式送达，并于 2025 年 10 月 27 日 12:00 召开。本次会议应参加监事 6 人，实际参加 6 人，分别为沈海涛先生、帅利丽女士、张军旺先生、王荣女士、王 勇先生、曲彦霞女士。本次会议由监事会主席沈海涛先生主持。本次 会议的召开程序、参加人数符合《公司法》和《公司章程》的规定。 本次会议以书面表决方式通过了以下决议： 6票赞成，0票反对，0票弃权审议通过了《新疆国统管道股份有 限公司2025年第三季度报告》。 经审核，新疆国统管道股份有限公司监事会认为董事会编制和审 核新疆国统管道股份有限公司2025 年第三季度报告的程序符合法律、 行政法规和中国证监会的规定，报告内容真实、准确 ...

《新疆国统管道股份有限公司2025年第三季度报告》全文登载于 巨潮资讯网http://www.cninfo.com.cn。同时，《2025年第三季度报告》 还将登载于《证券时报》、《中国证券报》。 特此公告 新疆国统管道股份有限公司董事会 证券代码：002205 证券简称：国统股份 编号：2025－046 新疆国统管道股份有限公司（以下简称"公司"）第六届董事会 第十八次会议通知于2025年10月17日以电子邮件送达，并于2025年10 月27日10:30在公司会议室召开。公司董事应到会8人，实到会8人， 分别为：姜少波先生、王出先生、杭宇女士、马军民先生、王相品先 生、马洁先生、董一鸣先生、谷秀娟女士。本次会议以现场和视频方 式进行，由公司董事长姜少波先生主持，公司监事、高级管理人员列 席了本次会议。本次会议的召集、召开符合《公司法》、《公司章程》 和有关法律、法规的规定。 本次会议以书面记名表决方式通过了以下决议： 8票同意，0票反对，0票弃权审议通过了《新疆国统管道股份有 限公司2025年第三季度报告》。 新疆国统管道股份有限公司 第六届董事会第十八次会议决议公告 本公司及董事会全体成员保证信息披露的内 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥253,849,911.10, representing a year-on-year increase of 25.29%[5] - The net profit attributable to shareholders decreased by 78.51% to ¥3,346,463.73, while the net profit after deducting non-recurring gains and losses fell by 67.06% to ¥5,195,362.34[5] - Total operating revenue for the current period reached ¥443,663,466.61, an increase of 16.7% compared to ¥380,083,128.92 in the previous period[21] - Net profit for the current period was a loss of ¥26,500,907.43, an improvement from a loss of ¥31,569,993.97 in the previous period[22] - The company recorded a total comprehensive loss of ¥26,500,907.43 for the current period, compared to a loss of ¥31,569,993.97 in the previous period[22] - The basic and diluted earnings per share improved to -0.1180 from -0.1656 in the previous period, indicating a reduction in losses per share[22] Cash Flow and Liquidity - The net cash flow from operating activities showed a significant decline, with a net amount of -¥71,921,964.52, reflecting a decrease of 629.75% compared to the previous year[5][12] - Operating cash flow for the current period was negative at ¥71,921,964.52, compared to a negative cash flow of ¥9,855,679.75 in the previous period[24] - Cash and cash equivalents at the end of the period totaled ¥33,755,671.90, down from ¥14,771,472.85 in the previous period[24] - The company's cash and cash equivalents decreased significantly from CNY 176,583,857.29 to CNY 91,167,431.65, a decline of about 48.3%[18] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥4,007,595,256.02, a slight increase of 0.96% from the end of the previous year[5] - Current assets increased to CNY 1,163,149,071.76 from CNY 971,885,036.38, reflecting a growth of approximately 19.7%[18] - Total liabilities increased to CNY 3,521,072,701.46 from CNY 3,457,111,552.38, representing a growth of about 1.8%[19] - The company's total equity decreased from CNY 512,291,971.69 to CNY 486,522,554.56, a decline of approximately 5.0%[19] - The company recorded a negative retained earnings of CNY -432,719,179.22, worsening from CNY -411,520,879.49 at the beginning of the period[19] Research and Development - The company's R&D expenses increased by 79.30% compared to the same period last year, indicating a focus on innovation and development[11] - Research and development expenses increased significantly to ¥18,886,635.60, up from ¥10,533,760.99 in the previous period, reflecting a focus on innovation[21] Inventory and Expenses - The company's inventory increased by 90.51% due to production based on orders and changes in inventory structure[10] - The company reported a 370.03% increase in non-operating expenses, primarily due to an increase in non-recurring expenditures[11] - Total operating costs increased to ¥474,682,542.31, up 12.9% from ¥420,454,903.13 in the previous period[21] - The company reported a decrease in sales expenses to ¥2,238,098.44 from ¥4,072,928.97 in the previous period, indicating cost management efforts[21] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 19,463, with the largest shareholder holding 30.21% of the shares[14] - The company's weighted average return on net assets was 0.93%, a decrease of 1.72% compared to the previous year[5]

Group 1 - The cement sector experienced a 1.7% increase on October 27, with Fujian Cement leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] - Fujian Cement's stock price rose by 10.07% to 6.45, with a trading volume of 315,200 shares and a transaction value of 195 million yuan [1] Group 2 - The cement sector saw a net inflow of 87.39 million yuan from institutional investors, while retail investors experienced a net outflow of 47.38 million yuan [2] - Major stocks in the cement sector showed varied performance, with Conch Cement seeing a net inflow of 66.07 million yuan from institutional investors [3] - The trading volume for major cement stocks included Huaxin Cement at 437,300 shares and a closing price of 22.29, reflecting a 7.89% increase [1][3]

Company Overview - Guotong Co., Ltd. is located in Urumqi, Xinjiang, and was established on August 30, 2001, with its listing date on January 23, 2008. The company specializes in the manufacturing, transportation, and development of various water supply pipelines, including PCCP and pressure steel pipes, as well as other chemical building materials [1][2]. Financial Performance - As of October 20, 2023, Guotong Co., Ltd. reported a revenue of 1.90 billion yuan for the first half of 2025, reflecting a year-on-year growth of 6.96%. The net profit attributable to the parent company was -252.76 million yuan, showing a significant increase of 45.47% compared to the previous year [2]. - The company has seen a stock price increase of 67.12% year-to-date, with a 9.57% rise over the last five trading days, a 10.21% increase over the last 20 days, and a 6.43% increase over the last 60 days [1]. Shareholder Information - As of October 20, 2023, the number of shareholders for Guotong Co., Ltd. was 18,800, a decrease of 3.39% from the previous period. The average number of circulating shares per shareholder was 9,904, which increased by 3.51% [2]. Market Activity - On October 24, 2023, Guotong Co., Ltd.'s stock price rose by 2.13%, reaching 14.89 yuan per share, with a trading volume of 134 million yuan and a turnover rate of 4.92%. The total market capitalization stood at 2.767 billion yuan [1]. - The company has appeared on the "Dragon and Tiger List" twice this year, with the most recent appearance on August 11 [1]. Business Segments - The main revenue sources for Guotong Co., Ltd. include PCCP pipes (82.05%), PPP project construction and services (9.77%), concrete wind power tower tubes (5.64%), and other products (1.40%). The company also engages in building installation services (scaffolding) which account for 1.13% of its revenue [1]. Dividend Information - Since its A-share listing, Guotong Co., Ltd. has distributed a total of 94.99 million yuan in dividends. However, there have been no dividend distributions in the last three years [3].