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。 一、募集资金基本情况 证券代码:002225 证券简称:濮耐股份 公告编号:2025-086 濮阳濮耐高温材料（集团）股份有限公司 关于部分募集资金专户销户的公告 公司于 2025 年 9 月 10 日召开第七届董事会第四次会议及第七届监事会第三 次会议审议通过了《关于部分可转债募投项目结项并将节余募集资金永久补充流 动资金的议案》，拟将公司 2021 年公开发行可转换公司债券的募投项目中"上海 研发中心建设项目"予以结项，并将节余募集资金用于永久补充流动资金，该事 项已经 2025 年 9 月 29 日召开的 2025 年第二次临时股东大会审议通过。详见 2025 年 9 月 12 日披露的《关于部分可转债募投项目结项并将节余募集资金永久补充 流动资金的公告》（公告编号：2025-078）。 截至本公告披露日，上述募集资金已永久补充流动资金，已办理完毕上述两 个上海研发中心建设项目募集资金专户的销户手续，与其对应的《募集资金三方 监管协议》和《募集资金四方监管协议》相应终止。同时公司已将上述募集资金 专户销户情 ...

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Views - The company's Q3 performance shows significant improvement year-on-year, with revenue reaching 4.176 billion yuan, up 4.34% year-on-year, and a notable recovery in net profit for Q3, which was 0.26 billion yuan compared to negative figures in the same period last year [1][2] - The domestic refractory materials business continues to face pressure, leading to a downward adjustment in net profit forecasts for 2025-2027 to 1.9 billion, 3.5 billion, and 5.5 billion yuan respectively [1][2] - The report expresses optimism about the recovery of the refractory materials sector due to the gradual alleviation of intense price competition, supported by the company's overseas operations and the growth of its wet process business [3] Financial Data Summary - For the first three quarters of 2025, the company's comprehensive gross margin was 17.6%, a decrease of 1.03 percentage points year-on-year [2] - The company’s net profit margin for the same period was 2.28%, down 0.68 percentage points year-on-year, influenced by increased credit impairment losses [2] - The financial forecast indicates a projected revenue of 5.739 billion yuan for 2025, with an expected growth rate of 10.53% [5][12] Business Outlook - The report highlights the potential for profit elasticity from the wet process business, with a significant agreement with a client for the procurement of 500,000 tons of sedimentation agents by the end of 2028 [3] - The company is expected to enhance its production capacity through upgrades and modifications to its production lines, which will contribute to expanding its profit margins [3]

Core Viewpoint - The company has released its third-quarter financial report for 2025, highlighting significant changes in various financial metrics and the overall performance of the business. Financial Data Summary - Cash and cash equivalents increased by 80.10% compared to the beginning of the year, primarily due to surplus cash flow from operating and financing activities [4] - Trading financial assets decreased by 100% due to the sale of shares in Xining Special Steel [5] - Other receivables increased by 54.52% due to an increase in business loans [5] - Other current assets rose by 52.92%, attributed to investment in financial products [6] - Short-term borrowings increased by 112.93% due to changes in financing structure and increased operational funding needs [8] - Total profit decreased by 31.67% year-on-year, influenced by lower gross margins in domestic refractory materials and increased credit impairment losses [14] Shareholder Information - The controlling shareholder, Liu Baikuan's family, reduced their stake by 9,726,850 shares, representing 0.932% of the total share capital after the reduction [19] - The company decided to redeem its convertible bonds early, with 9,133 bonds redeemed at a price of 100.906 yuan per bond, leading to the delisting of these bonds [20][21] Board and Supervisory Meetings - The seventh board meeting approved the third-quarter report with unanimous support from all attending members [25] - The supervisory board also approved the third-quarter report, confirming that the report's preparation and review complied with relevant regulations [28]

Core Viewpoint - Puyang Holdings (002225.SZ) reported a significant increase in net profit for Q3 2025, despite a decline in net profit for the first three quarters of the year [1] Financial Performance - In Q3 2025, the company achieved an operating income of 1.383 billion yuan, representing a year-on-year growth of 5.95% [1] - The net profit for Q3 2025 was 25.96 million yuan, showing a substantial year-on-year increase of 352.82% [1] - For the first three quarters of 2025, the total operating income reached 4.176 billion yuan, which is a year-on-year increase of 4.34% [1] - However, the net profit for the first three quarters decreased to 94.87 million yuan, reflecting a year-on-year decline of 22.81% [1]

Core Viewpoint - Puyang Nayi Co., Ltd. reported a revenue of 4.176 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 4.34%, while the net profit attributable to shareholders decreased by 22.81% to 94.8659 million yuan [1] Financial Performance - The company's operating revenue for the first three quarters reached 4.176 billion yuan, marking a 4.34% increase compared to the previous year [1] - The net profit attributable to shareholders was 94.8659 million yuan, which represents a decline of 22.81% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 73.5099 million yuan, showing a decrease of 4.63% year-on-year [1]

Core Viewpoint - Puyang Nayi Co., Ltd. reported a revenue of 1.383 billion yuan for Q3 2025, reflecting a year-on-year growth of 5.95% and a net profit attributable to shareholders of 25.96 million yuan, which represents a significant increase of 352.82% compared to the previous year [1] Financial Performance - The company achieved a revenue of 1.383 billion yuan in Q3 2025, marking a 5.95% increase year-on-year [1] - The net profit attributable to shareholders reached 25.96 million yuan, showing a remarkable growth of 352.82% year-on-year [1] - Basic earnings per share were reported at 0.02 yuan [1]

证券代码：002225 证券简称：濮耐股份 公告编号：2025-084 濮阳濮耐高温材料（集团）股份有限公司 第七届监事会第四次会议决议公告 本公司及监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。 濮阳濮耐高温材料（集团）股份有限公司（以下简称"公司"）第七届监事会 第四次会议通知于2025年10月17日以电子邮件形式发出，于2025年10月24日上午 在公司四楼会议室召开了现场结合通讯会议。本次会议应参会监事5名，亲自参 会监事5名，其中以通讯方式出席会议的监事有：郑化轸先生。会议由监事会主 席郭志彦先生主持，会议的召开符合《公司法》、《公司章程》及《监事会议事 规则》的有关规定。 二、监事会会议审议情况 本次会议经过认真讨论，采取记名投票方式，审议通过了如下议案： 1、以5票赞成，0票反对，0票弃权审议通过了《关于2025年第三季度报告 的议案》 经审核，监事会认为董事会编制和审核公司2025年第三季度报告的程序符合 法律、行政法规等相关规定，报告内容真实、准确、完整地反映了上市公司的实 际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 特此公告。 濮阳濮耐高 ...

证券代码:002225 证券简称:濮耐股份 公告编号:2025-083 濮阳濮耐高温材料（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。 第七届董事会第五次会议决议公告 一、董事会会议召开情况 濮阳濮耐高温材料（集团）股份有限公司（以下简称"公司"）第七届董事 会第五次会议通知于2025年10月17日以电子邮件形式发出，于2025年10月24日上 午在公司四楼会议室召开了现场结合通讯会议。本次会议应参会董事9名，亲自 参会董事9名，其中以通讯方式出席会议的董事有：孔志远先生、曹阳先生、刘 诚先生、李永全先生、梁永和先生、王广鹏先生。本次会议由董事长刘百宽先生 主持，部分高级管理人员及监事列席了会议，会议的召开符合《公司法》、《公 司章程》及《董事会议事规则》的有关规定。 二、董事会会议审议情况 本次会议经过认真讨论，采取记名投票方式，审议通过了如下议案： 1、以9票赞成、0票反对、0票弃权审议通过了《关于2025年第三季度报告 的议案》 详见2025年10月27日登载于《证券时报》、《上海证券报》和巨潮资讯网上 的《2025年第三季度报告》 ...

Financial Performance - Revenue for the third quarter reached ¥1,382,617,607.21, an increase of 5.95% compared to the same period last year[5] - Net profit attributable to shareholders was ¥25,962,695.68, a significant increase of 352.82% year-on-year[5] - Net profit excluding non-recurring items was ¥19,593,043.29, up 194.69% from the previous year[5] - Total operating revenue for the period reached ¥4,176,416,626.53, an increase of 4.34% compared to ¥4,002,631,631.15 in the previous period[37] - Net profit for the period was ¥95,058,838.21, a decrease of 19.59% from ¥118,241,084.86 in the previous period[37] - The net profit attributable to the parent company shareholders was approximately ¥94.87 million, a decrease from ¥122.90 million in the previous period, representing a decline of about 22.8%[38] - The total comprehensive income attributable to the parent company owners was approximately ¥112.11 million, down from ¥120.24 million, reflecting a decrease of about 6.4%[38] - The basic and diluted earnings per share were both ¥0.09, compared to ¥0.12 in the previous period, indicating a decline of 25%[38] Assets and Liabilities - Total assets at the end of the reporting period were ¥8,977,825,070.48, reflecting an increase of 8.63% from the end of the previous year[5] - Total assets increased to ¥8,977,825,070.48 from ¥8,264,845,329.57, representing a growth of 8.59%[36] - Current assets totaled ¥6,334,044,329.13, up from ¥5,284,509,305.36, indicating a rise of 19.87%[35] - Total liabilities decreased slightly to ¥4,739,677,564.36 from ¥4,742,182,046.85, a decline of 0.05%[35] - Total equity attributable to shareholders rose to ¥4,121,897,289.43 from ¥3,403,319,460.50, an increase of 21.09%[36] Cash Flow - Cash flow from operating activities for the year-to-date was ¥280,817,023.26, down 23.61% year-on-year[5] - Cash flow from operating activities generated a net amount of approximately ¥280.82 million, down from ¥367.63 million, a decrease of about 23.5%[40] - Cash inflow from investment activities totaled approximately ¥626.27 million, while cash outflow was approximately ¥773.15 million, resulting in a net cash flow of -¥146.88 million[40] - Cash flow from financing activities generated a net amount of approximately ¥105.29 million, compared to a net outflow of -¥269.33 million in the previous period, indicating a significant improvement[40] - The total cash and cash equivalents at the end of the period were approximately ¥449.74 million, slightly down from ¥468.60 million[40] Shareholder Information - The total number of common shareholders at the end of the reporting period was 40,219[29] - The largest shareholder, Liu Baikuan, holds 11.41% of shares, totaling 132,245,727 shares, with 57,100,000 shares pledged[29] - Liu Baichun, the second-largest shareholder, owns 8.27% of shares, amounting to 95,842,403 shares, with 29,700,000 shares pledged[29] - The company repurchased 13,229,687 shares, representing 1.14% of the total share capital[30] - A reduction plan was executed by members of Liu Baikuan's family, resulting in a total of 9,726,850 shares sold, which is 0.932% of the total share capital at the time of the sale[30] - The company’s controlling shareholder structure changed from 11 to 8 members after the reduction plan was completed[30] Investment and Expenses - Investment income rose by 30.84% year-on-year, attributed to gains from the sale of shares in Xining Special Steel[17] - Research and development expenses were ¥159,689,500.33, slightly up from ¥157,555,502.33, reflecting a growth of 1.36%[37] - The company reported a decrease in financial expenses to ¥23,905,039.58 from ¥58,111,687.24, a reduction of 58.80%[37] Other Information - The company did not conduct any mergers or acquisitions during the reporting period, focusing instead on internal growth strategies[41] - The company decided to redeem 9,133 convertible bonds at a price of 100.906 CNY per bond, leading to the delisting of these bonds[31] - The company concluded the "Shanghai R&D Center Construction Project" and will permanently supplement working capital with the remaining funds from the convertible bond issuance[32] - The company’s financial reports are compiled as of September 30, 2025[33] - The overall profit margin was impacted by a 31.67% decrease in total profit compared to the previous year, influenced by domestic market conditions and increased credit impairment losses[21] - The company experienced a 112.93% increase in short-term borrowings compared to the beginning of the year, driven by changes in financing structure and increased operational funding needs[9] - Short-term borrowings surged to ¥1,339,775,190.70, compared to ¥629,199,192.34, marking an increase of 113.73%[35] - Total operating costs amounted to ¥4,048,043,805.17, up from ¥3,897,456,648.58, reflecting a growth of 3.87%[37] - The company received cash from sales of goods and services amounting to approximately ¥3.62 billion, an increase from ¥3.42 billion, representing a growth of about 5.8%[39] - The company paid approximately ¥2.42 billion for purchasing goods and services, an increase from ¥2.17 billion, reflecting a rise of about 11.5%[40]

Market Overview - The Shanghai Composite Index is at 3907.95 points, slightly down by 0.21%, and is above the five-day moving average [1] - The total trading volume of A-shares today is 137.8 billion yuan [1] Stocks Performance - A total of 537 A-shares have surpassed the five-day moving average today [1] - Notable stocks with significant deviation rates include: - Wanda Bearings with a deviation rate of 9.53% and a daily increase of 12.27% [1] - Electric Wind Power with a deviation rate of 9.42% and a daily increase of 13.35% [1] - Tianwo Technology with a deviation rate of 8.10% and a daily increase of 10.00% [1] Detailed Stock Data - The following stocks have notable performance metrics: - Wanda Bearings (Code: 920002): Latest price 115.99 yuan, five-day moving average 105.89 yuan, daily turnover rate 9.75% [1] - Electric Wind Power (Code: 688660): Latest price 22.08 yuan, five-day moving average 20.18 yuan, daily turnover rate 3.60% [1] - Tianwo Technology (Code: 002564): Latest price 9.02 yuan, five-day moving average 8.34 yuan, daily turnover rate 5.08% [1]