Group 1 - The company, Dazhongnan (002263.SZ), confirmed its involvement as a materials supplier for capacitor customers in the construction of the Zhejiang UHVDC project [2] - The specific application areas and customer situations depend on downstream enterprises [2] Group 2 - The inquiry was made by an investor on an interactive platform regarding the company's participation in the flexible direct current solution of the Zhejiang UHVDC project [2][3]

Group 1 - The core business of the company is focused on various types of films and new material products [1] - The company has not yet developed the technology for PSU plastic [1]

Core Viewpoint - Dazhongnan (002263.SZ) has stated on its interactive platform that the company is currently not involved in the PI film sector [1] Group 1 - The company has clarified its position regarding the PI film market, indicating no current engagement in this area [1]

Core Points - The company guarantees the authenticity, accuracy, and completeness of the quarterly report, with no false records or misleading statements [2][3] - The financial report for the third quarter has not been audited [16] Financial Data Summary - The company reported a net profit increase of 158.98% compared to the same period last year, attributed to an increase in the gross profit margin of main products [12] - Sales expenses increased by 46.73% year-on-year, mainly due to higher salaries for sales personnel and business entertainment expenses [9] - Other income rose by 59.04% year-on-year, primarily due to increased VAT deductions enjoyed by a subsidiary [9] - Credit impairment losses decreased by 82.17% compared to the previous year, indicating a reduction in bad debt provisions [10] - Operating income increased by 126.41% year-on-year, driven by compensation received and donated materials [10] - Operating expenses decreased by 85.93% compared to the previous year, reflecting lower compensation payments to shareholders [11] Balance Sheet Changes - Accounts receivable decreased by 52.04% compared to the beginning of the year, mainly due to the maturity of receivables [4] - Other receivables increased by 141.49%, attributed to temporary advances made during the period [5] - Prepayments increased by 61.87%, primarily due to higher advance payments for materials [6] - Other current assets rose by 47.46%, mainly due to an increase in VAT input tax to be deducted [7] - Long-term deferred expenses increased by 77.77%, reflecting maintenance costs for factory repairs [7] - Other non-current assets surged by 193.17%, mainly due to increased advance payments for equipment by a subsidiary [7] - Accounts payable decreased by 35.67%, primarily due to a reduction in payable material costs [8] - Other payables decreased by 57.16%, mainly due to a reduction in temporary receipts [8] Corporate Governance Changes - The company held meetings to elect a new board of directors and adjusted its governance structure, eliminating the supervisory board [14] - A new board of directors was formed, consisting of a worker representative director and other directors, with a term of three years [14]

Core Viewpoint - Dazhongnan is a significant player in the domestic plastic film industry, focusing on the research, production, and sales of plastic films and new materials, with certain technical and scale advantages [1] Group 1: Business Performance - In Q3 2025, Dazhongnan reported revenue of 939 million yuan, ranking 13th among 19 companies in the industry, with the industry leader, Double Star New Materials, generating 3.893 billion yuan [2] - The revenue composition includes BOPP (capacitor film) at 215 million yuan (33.84%), BOPET film at 213 million yuan (33.43%), optical film at 125 million yuan (19.62%), and CPP film at 40.5 million yuan (6.36%) [2] - The net profit for the same period was 12.0585 million yuan, ranking 12th in the industry, with the industry leader, Dongcai Technology, reporting a net profit of 272 million yuan [2] Group 2: Financial Ratios - Dazhongnan's debt-to-asset ratio was 5.77% in Q3 2025, down from 6.00% year-on-year, significantly lower than the industry average of 33.88% [3] - The gross profit margin for Q3 2025 was 12.46%, an increase from 9.78% year-on-year, but still below the industry average of 18.54% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 3.58% to 131,700, while the average number of circulating A-shares held per account increased by 3.72% to 14,300 [5] - Hong Kong Central Clearing Limited is the second-largest circulating shareholder, holding 14.6517 million shares as a new shareholder [5] Group 4: Management Compensation - The chairman and general manager, Luo Ping, received a salary of 498,600 yuan in 2024, an increase of 44,200 yuan from 2023 [4]

Group 1 - The company reported a revenue of 939 million yuan for the first three quarters of 2025, representing a year-on-year decrease of 3.83% [1] - The net profit attributable to shareholders of the listed company was 12.0585 million yuan, showing a significant year-on-year increase of 158.98% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 8.0086 million yuan, which is a year-on-year increase of 131.26% [1]

Financial Performance - The company's operating revenue for Q3 2025 was ¥302,123,683.30, a decrease of 8.47% compared to the same period last year[5] - Net profit attributable to shareholders increased by 180.44% to ¥4,118,435.90 for the quarter[5] - The basic earnings per share rose by 166.67% to ¥0.002, while diluted earnings per share also increased by 166.67% to ¥0.002[5] - Net profit for the period was ¥12,058,510.14, a significant recovery from a net loss of ¥20,445,304.51 in the previous period[28] - Earnings per share improved to ¥0.006 from a loss of ¥0.011 per share in the previous period[29] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,936,435,743.69, a decrease of 0.36% from the end of the previous year[5] - Total current assets amount to 1,686,069,701.19 CNY, an increase from 1,633,490,131.86 CNY at the beginning of the period[24] - Total non-current assets decreased to 1,250,366,042.50 CNY from 1,313,488,732.66 CNY[24] - Total assets amount to 2,936,435,743.69 CNY, down from 2,946,978,864.52 CNY[24] - Total current liabilities decreased to 109,133,927.85 CNY from 144,679,763.80 CNY[24] - The total liabilities decreased to ¥169,319,799.77 from ¥191,921,430.74, a decline of approximately 11.8%[27] - Total equity attributable to shareholders increased to ¥2,767,115,943.92 from ¥2,755,057,433.78, reflecting a growth of about 0.4%[27] Income and Expenses - The company reported a significant increase in other income, which rose by 59.04% compared to the same period last year[15] - The gross profit margin for the main products improved, contributing to a net profit increase of 158.98%[18] - Cash flow from operating activities showed a negative net amount of ¥-42,233,141.99, reflecting a decrease of 494.94% year-to-date[5] - The company experienced a 46.73% increase in sales expenses due to higher salaries and business entertainment costs[15] - Research and development expenses decreased to ¥38,955,372.96 from ¥44,097,593.41, a reduction of approximately 11.5% year-over-year[27] - Sales expenses increased to ¥9,843,080.35 from ¥6,708,398.51, representing an increase of about 46.5% year-over-year[27] Cash Flow - Operating cash flow generated a net outflow of ¥42,233,141.99, compared to a net inflow of ¥10,693,497.72 in the prior period[30] - Investment activities generated a net cash flow of -197,869,275.37, compared to 275,566,126.55 in the previous period[31] - Cash inflow from investment activities totaled 630,000,000.00, up from 300,000,000.00[31] - Cash outflow from investment activities increased significantly to 827,869,275.37 from 24,433,873.45[31] - Financing activities resulted in a net cash flow of 78,889,807.29, compared to -121,806,421.48 previously[31] - Cash inflow from financing activities was 101,078,045.81, down from 174,077,139.93[31] - Cash outflow from financing activities decreased to 22,188,238.52 from 295,883,561.41[31] - The net increase in cash and cash equivalents was -161,633,498.69, compared to an increase of 163,179,640.94 in the previous period[31] - The ending balance of cash and cash equivalents was 134,367,947.01, down from 886,956,611.00[31] Shareholder Information - Total number of common shareholders at the end of the reporting period is 131,720[19] - The largest shareholder, Zhuji Water Group Co., Ltd., holds 27.91% of shares, totaling 524,158,020 shares[19] Governance and Compliance - The company has no preferred shareholders as indicated in the report[20] - The company has restructured its governance by eliminating the supervisory board, transferring its powers to the audit committee of the board[21] - The ninth board of directors was elected on September 15, 2025, with a term of three years[22] - The company did not undergo an audit for the third quarter financial report[32] - The new accounting standards will be first implemented starting in 2025[32]

Core Viewpoint - Dazhongnan's stock price has experienced fluctuations, with a year-to-date increase of 43.15%, but recent declines in the short term indicate potential volatility in investor sentiment [2]. Group 1: Stock Performance - On October 23, Dazhongnan's stock price fell by 2.20% to 3.55 CNY per share, with a trading volume of 43.96 million CNY and a turnover rate of 0.65%, resulting in a total market capitalization of 6.668 billion CNY [1]. - Year-to-date, Dazhongnan's stock price has increased by 43.15%, but it has seen a decline of 0.56% over the last five trading days, 17.82% over the last 20 days, and 1.66% over the last 60 days [2]. Group 2: Trading Activity - As of October 20, there was a net outflow of 7.96 million CNY in main funds, with large orders showing a buy of 5.34 million CNY (12.14%) and a sell of 12.15 million CNY (27.63%) [1]. - Dazhongnan has appeared on the "Dragon and Tiger List" eight times this year, with the most recent appearance on July 11, where it recorded a net buy of -13.87 million CNY [2]. Group 3: Company Overview - Dazhongnan, established on June 8, 2000, and listed on July 28, 2008, is located in Zhuji City, Zhejiang Province, and specializes in the research, production, and sales of plastic films and new materials [2]. - The company's main business revenue composition includes BOPP (capacitor film) at 33.84%, BOPET film at 33.43%, optical film at 19.62%, and other products at 6.74% [2]. Group 4: Financial Performance - For the first half of 2025, Dazhongnan reported a revenue of 637 million CNY, a year-on-year decrease of 1.46%, while the net profit attributable to shareholders was 7.94 million CNY, reflecting a year-on-year increase of 151.81% [2]. - Since its A-share listing, Dazhongnan has distributed a total of 172 million CNY in dividends, with no dividends paid in the last three years [3]. Group 5: Shareholder Information - As of October 20, the number of Dazhongnan shareholders was 127,400, a decrease of 2.25% from the previous period, with an average of 14,741 circulating shares per person, an increase of 2.30% [2]. - As of June 30, 2025, Hong Kong Central Clearing Limited has exited the list of the top ten circulating shareholders [3].

Group 1 - The company Dazhongnan (002263) reported that as of October 20, 2025, the number of shareholders is 127,422 [1]

Group 1 - The company, Dazhongnan (002263.SZ), has stated on its interactive platform that it is currently not involved in JD.com's new energy vehicles [1]