数据来源：天眼查APP 证券之星消息，根据天眼查APP-财产线索数据整理，根据中石化（大连）石油化工研究院有限公司11 月2日发布的《中石化（大连）石油化工研究院有限公司自封袋、橡皮20251014询比采购预成交公示》 内容显示，深圳齐心集团股份有限公司中标，详情如下： 标题：中石化（大连）石油化工研究院有限公司自封袋、橡皮20251014询比采购预成交公示 通过天眼查大数据分析，深圳齐心集团股份有限公司共对外投资了64家企业，参与招投标项目31974 次；财产线索方面有商标信息754条，专利信息492条，著作权信息106条；此外企业还拥有行政许可60 个。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 采购方：中石化（大连）石油化工研究院有限公司 供应商：深圳齐心集团股份有限公司 中标金额： 地区：辽宁省 发布日期：2025-11-02 ...

近日，深圳市企业联合会、深圳市企业家协会正式发布"2025深圳企业500强榜单"及《2025深圳500强企 业发展报告》。该榜单以企业2024年度营业收入为排序基准，被视为衡量深圳企业综合实力的重要参考 之一。其中，平安、华为、比亚迪位居2025年榜单前三。 | 排名 | 企业名称 | 2024年 营收/亿元 | | --- | --- | --- | | 112 | 线会建设集团股份有限公司 | | | 113 | 蒙斯德时货拉拉科技有限公司 | | | 114 | 深圳齐心集团股份有限公司 | 113.97 | | 115 | 深刻热环境水克量因有限公司 | | | 116 | 康佳集团股份有限公司 | | 据了解，齐心集团以企业运维物资集采为核心，以高附加值商品供应链和全链路数字化为底座，打造全 场景、全产链、数智化的企业服务平台，覆盖办公行政、MRO工业品、员工福利品、营销物料四大采 购场景，通过数采、云采、易采三种对接方式，精准匹配政企采购的多样化服务需求。 近年来，齐心集团积极拥抱新兴科技，全面推动AI技术在数字化采购领域应用落地。2025年2月，齐心 集团发布齐心智磐 AI大模型，深度融合数字化 ...

Market Overview - The entertainment products sector increased by 1.23% on November 3, with Mingyue Lens leading the gains [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] Top Performers - Mingyue Lens (301101) closed at 43.94, up 6.39% with a trading volume of 75,400 shares and a transaction value of 324 million yuan [1] - Helen Piano (300329) closed at 18.25, up 5.43% with a trading volume of 120,500 shares and a transaction value of 217 million yuan [1] - Qunxing Toys (002575) closed at 6.40, up 3.39% with a trading volume of 326,400 shares and a transaction value of 207 million yuan [1] Underperformers - Jinling Sports (300651) closed at 22.13, down 5.43% with a trading volume of 151,700 shares [2] - Yuanfei Pets (001222) closed at 23.00, down 4.29% with a trading volume of 56,300 shares [2] - Zhejiang Nature (605080) closed at 24.48, down 1.45% with a trading volume of 20,800 shares [2] Capital Flow - The entertainment products sector experienced a net outflow of 4.75 million yuan from institutional investors, while retail investors saw a net inflow of 3.32 million yuan [2][3] - Major stocks like Guangbo Co. (002103) had a net inflow of 24.48 million yuan from institutional investors, while Mingyue Lens (301101) had a net inflow of 16.28 million yuan [3]

Investment Rating - The investment rating for the company is "Accumulate" and is maintained [7]. Core Views - The company's revenue for the first three quarters of 2025 was 7.73 billion yuan, a year-on-year decrease of 8%, with a net profit attributable to shareholders of 140 million yuan, down 11% year-on-year [2][4]. - In Q3 2025, the revenue was 2.96 billion yuan, a year-on-year decline of 13%, and the net profit attributable to shareholders was 53 million yuan, down 17% year-on-year [2][4]. - The decline in revenue is primarily attributed to pressure on the B2B procurement business, with a slowdown in procurement rhythm from some clients due to the broader economic environment [10]. - The company is focusing on optimizing its B2B business client structure and enhancing profitability through digital and AI-driven initiatives [10]. Summary by Sections Financial Performance - For Q3 2025, the company managed to control expense ratios despite a decline in revenue, with sales, management, R&D, and financial expense ratios increasing slightly year-on-year [6]. - The gross profit margin for Q3 2025 is expected to improve due to a higher proportion of revenue from the high-margin SAAS business [10]. Business Segments - The B2B procurement business continues to focus on core clients, serving over 60% of 100 central enterprises, and aims for steady revenue growth and improved profitability [10]. - The new stationery business is expected to contribute positively, with ongoing product launches in the IP cultural and creative sector [10]. Future Outlook - The company anticipates achieving net profits attributable to shareholders of 170 million yuan, 200 million yuan, and 240 million yuan for 2025, 2026, and 2027, respectively, with corresponding P/E ratios of 27, 23, and 19 [10].

Market Overview - The entertainment products sector experienced a decline of 0.33% on October 30, with Zhejiang Zhengte 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] Stock Performance - Notable gainers included: - Helen Piano (300329) with a closing price of 17.57, up 7.59% and a trading volume of 180,300 shares, totaling 311 million yuan [1] - Source Pet (001222) closed at 24.51, up 2.21% with a trading volume of 66,300 shares, totaling 162 million yuan [1] - Major decliners included: - Zhejiang Zhengte (001238) closed at 49.33, down 3.08% with a trading volume of 8,368 shares, totaling 41.9 million yuan [2] - Huali Technology (301011) closed at 25.65, down 2.88% with a trading volume of 32,400 shares, totaling 83.57 million yuan [2] Capital Flow - The entertainment products sector saw a net outflow of 69.16 million yuan from institutional investors, while retail investors contributed a net inflow of 66.54 million yuan [2] - Specific stock capital flows included: - Morning Light Co. (6688809) had a net inflow of 11.21 million yuan from institutional investors [3] - Source Pet (001222) saw a net inflow of 10.59 million yuan from institutional investors [3] - Zhejiang Zhengte (001238) experienced a net outflow of 0.53 million yuan from institutional investors [3]

Core Viewpoint - Qixin Group is a leading player in the B2B office procurement sector, with a strong focus on comprehensive office supplies and a digital operation platform that enhances its industry experience [1] Group 1: Business Performance - In Q3 2025, Qixin Group reported revenue of 7.729 billion, ranking second in the industry, with the top competitor, Chenguang Co., achieving 17.328 billion [2] - The main business revenue from office supplies was 4.734 billion, accounting for 99.18% of total revenue, while other segments contributed only 21.932 million (0.46%) and enterprise-level SaaS software and services contributed 17.226 million (0.36%) [2] - The net profit for the same period was 142 million, ranking third in the industry, with Chenguang Co. leading at 973 million [2] Group 2: Financial Ratios - As of Q3 2025, Qixin Group's debt-to-asset ratio was 64.21%, slightly down from 64.43% year-on-year, but significantly higher than the industry average of 43.06% [3] - The gross profit margin for Q3 2025 was 9.05%, an increase from 8.72% year-on-year, yet still 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 9.03% to 36,500, while the average number of circulating A-shares held per shareholder increased by 9.93% to 19,700 [5] - Hong Kong Central Clearing Limited exited the top ten circulating shareholders list [5] Group 4: Strategic Insights - Qixin Group is recognized for its robust client base in the B2B office supplies sector, which supports long-term performance stability [5] - Key business highlights include a steady recovery in office procurement, the empowerment of self-owned brands through "Guochao" cultural creativity, and a focus on overseas market expansion via cross-border e-commerce [5] - The company has completed impairment for Haoshitong, and the stock incentive plan reflects confidence in future growth, with clear performance targets for 2025 [5]

Core Insights - Q3 2025 report of Qixin Group (002301.SZ) shows that 8 institutional investors hold a total of 322 million shares, accounting for 44.70% of the total share capital, with a decrease of 1.99 percentage points from the previous quarter [1] Institutional Investors - The institutional investors include Shenzhen Qixin Holdings Co., Ltd., National Social Security Fund 604 Portfolio, Zhuhai Gree Financial Investment Management Co., Ltd., and others, with a total holding ratio of 44.70% [1] - The number of public funds that did not disclose holdings in this period is 24, including Penghua Quality Selection Mixed A and others [1] Social Security Fund - One social security fund, National Social Security Fund 604 Portfolio, reduced its holdings by 0.24% compared to the previous quarter, while one new fund, National Social Security Fund 103 Portfolio, disclosed its holdings [2] Insurance Capital - Two insurance companies, both from Taikang Life Insurance Co., Ltd., reduced their holdings slightly compared to the previous quarter [2] Foreign Investment - One foreign institution, Hong Kong Central Clearing Limited, did not disclose holdings in this period compared to the previous quarter [3]

Core Viewpoint - The company has disclosed its third-quarter financial report, ensuring the accuracy and completeness of the information provided, with no significant omissions or misleading statements [2][10]. Financial Data Summary - The company reported that there were no adjustments or restatements required for previous accounting data [4]. - The company experienced a decrease in trading financial assets due to the maturity of forward foreign exchange products [6]. - Prepaid accounts decreased as payments to suppliers were settled during the reporting period [6]. - Long-term equity investments decreased due to the recovery of investments in joint ventures [6]. - The company’s construction in progress increased due to new self-made molds not yet meeting fixed asset acceptance standards [6]. - Short-term borrowings increased during the reporting period [6]. Profit and Loss Summary - Tax expenses increased compared to the same period last year due to higher value-added tax payments [7]. - Other income decreased due to a reduction in government subsidies received [7]. - Investment income increased as a result of gains from the disposal of long-term equity investments [7]. - The company reported a decrease in impairment losses due to lower inventory write-downs [8]. Cash Flow Summary - Cash received from sales increased due to higher customer payments compared to the previous year [9]. - Cash paid for purchasing goods increased as payments to suppliers rose [9]. - Cash received from investment income increased due to the recovery of equity investments [9]. - The company experienced an increase in cash from borrowings as new loans were taken out [9]. Shareholder Information - The actual controller of the company, Chen Qinpeng, inherited shares from his brother, maintaining the same ownership percentage of 42.93% post-transfer [10]. - The controlling shareholder transferred 36,070,000 shares, representing 5.00% of the total share capital, to Cai Xiaoling at a price of 6.13 yuan per share [11].

Group 1 - The core viewpoint of the article is that Qixin Group (002301.SZ) reported a decline in both revenue and net profit for the first three quarters of 2025 compared to the previous year [1] Group 2 - The company achieved an operating income of 7.729 billion yuan, representing a year-on-year decrease of 7.94% [1] - The net profit attributable to shareholders of the listed company was 140 million yuan, down 11.45% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 135 million yuan, reflecting a year-on-year decline of 14.43% [1]

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company achieved its profit incentive targets for Q3 2025, indicating a positive outlook for future growth [2][9] - The company is a leader in the B2B office supplies sector in China, with a strong reserve of central enterprise clients that supports stable long-term performance [9] - The company is focusing on enhancing its own brand and expanding overseas through cross-border e-commerce, aiming for sustainable long-term development [5][6] Summary by Sections Financial Performance - In the first three quarters of 2025, the company reported revenue of 77.29 billion yuan, a year-on-year decrease of 7.94%, and a net profit attributable to shareholders of 1.40 billion yuan, down 11.45% year-on-year [2] - For Q3 2025, revenue was 29.56 billion yuan, a decline of 13.02% year-on-year, with a net profit of 0.53 billion yuan, down 17.08% year-on-year [2] Business Segments - The company's B2B office procurement business is expected to recover steadily as the procurement needs of government and enterprise clients normalize, supported by a robust digital operation platform and a strong client base [3] - The MRO (Maintenance, Repair, and Operations) business benefits from high customer overlap with the office procurement segment, leveraging existing client relationships and resources to drive growth [4] Brand Development and International Expansion - The company is committed to developing its own brands, focusing on innovative design and practical functionality to meet changing consumer demands [5] - The company is actively pursuing international sales through platforms like Amazon, aiming to capture opportunities in cross-border procurement and enhance brand recognition globally [6] Profitability and Cost Control - In Q3 2025, the company achieved a gross margin of 8.97% and a net margin of 1.83%, reflecting improvements in profitability [7] - The company has effectively controlled costs, with selling, general, and administrative expenses showing manageable increases [7] Future Outlook - The company has set ambitious performance targets for its employee stock ownership plan, indicating confidence in achieving significant revenue and profit growth in the coming years [8] - Revenue projections for 2025-2027 are estimated at 119.61 billion yuan, 125.57 billion yuan, and 131.84 billion yuan, respectively, with corresponding EPS forecasts of 0.21, 0.27, and 0.32 yuan per share [9][11]