Financial Performance - The company's operating revenue for Q3 2025 was ¥683,674,538.45, a decrease of 16.98% compared to the same period last year[5] - The net profit attributable to shareholders was -¥61,781,119.43, representing a significant decline of 1,284.20% year-on-year[5] - The basic earnings per share for the period was -¥0.18, a decrease of 1,000.00% compared to the previous year[5] - Total operating revenue for the third quarter was CNY 1,953,843,693.67, a decrease of 7.5% compared to CNY 2,113,846,012.64 in the previous year[18] - Net profit for the period was a loss of CNY 62,633,633.79, compared to a profit of CNY 1,089,806.60 in the same period last year[19] - The total equity attributable to shareholders decreased to CNY 1,602,099,836.40 from CNY 1,660,171,216.97, a reduction of 3.5%[17] - Basic and diluted earnings per share were both -0.17, compared to 0.01 in the previous period[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,753,892,929.40, a decrease of 0.78% from the end of the previous year[5] - The total assets decreased to CNY 4,753,892,929.40 from CNY 4,791,457,856.36, a decline of 0.8%[17] - Long-term borrowings increased by 201.52% to ¥238,500,000.00, primarily due to the repayment of maturing loans and the increase in new loans[10] - The company reported a significant increase in short-term borrowings, rising to CNY 1,293,981,007.26 from CNY 1,253,525,824.13, reflecting a 3.5% increase[16] - Non-current liabilities increased to CNY 578,124,020.94, up from CNY 445,470,143.97, representing a 29.7% increase[16] Cash Flow - The company reported a net cash flow from operating activities of -¥34,108,193.69, an improvement of 36.31% compared to the same period last year[12] - Cash inflow from operating activities totaled ¥2,150,103,331.13, an increase of 10.7% from ¥1,941,590,346.96 in the previous period[20] - Net cash flow from operating activities was -¥34,108,193.69, an improvement from -¥53,557,599.58 in the previous period[21] - Cash inflow from investing activities was ¥12,381,276.58, compared to ¥6,790,117.46 in the previous period[21] - Net cash flow from investing activities was -¥24,688,023.81, an improvement from -¥47,393,746.93 in the previous period[21] - Cash inflow from financing activities was ¥1,255,522,783.48, up from ¥943,015,369.06 in the previous period[21] - Net cash flow from financing activities was ¥9,893,728.94, compared to -¥2,448,109.82 in the previous period[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 47,929[13] - Aishida Group Co., Ltd. holds 36.89% of the shares, making it the controlling shareholder with 125,648,134 shares[13] - The number of preferred shareholders with restored voting rights is zero, indicating no such shareholders exist[13] - The top ten shareholders collectively hold significant stakes, with the largest shareholder holding nearly 37%[13] - The company has not reported any changes in the participation of major shareholders in margin trading or securities lending[13] Income and Expenses - Other income decreased by 44.59% to ¥24,905,186.95, mainly due to a reduction in government subsidies[11] - The company experienced a 68.98% decline in non-operating income, totaling ¥763,488.84, attributed to the previous year's fire compensation from a subsidiary[11] - Research and development expenses were CNY 110,021,487.93, down from CNY 121,106,661.91, a decrease of 9.1%[18]

Market Overview - On October 23, the small home appliance sector rose by 0.02% compared to the previous trading day, with Rainbow Group leading the gains [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Stock Performance - Key stocks in the small home appliance sector showed varied performance, with Rainbow Group closing at 25.17, up 4.66%, and Lek Electric at 24.67, up 1.86% [1] - Other notable performers included Liren Technology at 27.44, up 1.70%, and Ousheng Electric at 26.13, up 0.85% [1] Trading Volume and Value - Rainbow Group had a trading volume of 156,000 shares and a transaction value of 386 million yuan [1] - Lek Electric recorded a trading volume of 130,000 shares with a transaction value of 316 million yuan [1] Capital Flow - The small home appliance sector experienced a net outflow of 101 million yuan from institutional investors, while retail investors saw a net inflow of approximately 89.85 million yuan [2] - The capital flow data indicates that retail investors were more active in the market compared to institutional investors [2] Individual Stock Capital Flow - Rainbow Group had a net inflow of 31.61 million yuan from institutional investors, while it faced a net outflow of 2.87 million yuan from retail investors [3] - Lek Electric saw a net inflow of 4.47 million yuan from institutional investors but a significant outflow of 19.97 million yuan from speculative funds [3]

Core Viewpoint - The stock price of Aishida has shown a slight increase of 0.27% year-to-date, but has experienced a decline of 12.89% over the past 20 days, indicating volatility in its recent performance [2]. Group 1: Stock Performance - As of October 23, Aishida's stock price decreased by 2.00%, trading at 14.19 CNY per share with a total transaction volume of 43.66 million CNY and a turnover rate of 1.03% [1]. - Year-to-date, Aishida's stock has risen by 0.27%, while it has dropped by 0.28% in the last five trading days and increased by only 0.07% over the past 60 days [2]. Group 2: Financial Performance - For the first half of 2025, Aishida reported a revenue of 1.27 billion CNY, reflecting a year-on-year decrease of 1.57%, while the net profit attributable to shareholders was 2.80 million CNY, showing a significant increase of 178.60% [2]. - The company has distributed a total of 409 million CNY in dividends since its A-share listing, with 6.13 million CNY distributed over the past three years [3]. Group 3: Company Overview - Aishida, established on May 13, 1993, and listed on May 11, 2010, is located in the Economic Development Zone of Wenling City, Zhejiang Province. Its main business includes the production of kitchen cookware, small kitchen appliances, household goods, and robots [2]. - The revenue composition of Aishida's main business includes cookware at 71.88%, small appliances at 14.40%, robots at 10.55%, and other products at 3.17% [2]. - As of June 30, 2025, Aishida had 50,300 shareholders, a decrease of 5.97% from the previous period, with an average of 5,912 circulating shares per shareholder, an increase of 6.35% [2].

Market Performance - The small home appliance sector increased by 0.2% compared to the previous trading day, with Beiyikang leading the gains [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Stock Highlights - Beiyikang (code: 6610Z6) closed at 39.75, with a significant increase of 11.28% and a trading volume of 39,800 shares, amounting to 153 million yuan [1] - Other notable performers included: - Jizhi Technology (code: 920926) with a closing price of 19.62, up 3.54% [1] - Rainbow Group (code: 003023) at 24.80, up 3.33% [1] - Beiqingsong (code: 688793) at 28.67, up 2.54% [1] Capital Flow - The small home appliance sector experienced a net outflow of 46.53 million yuan from institutional investors, while retail investors saw a net inflow of 27.27 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2] Individual Stock Capital Flow - Stone Technology (code: 688169) had a net inflow of 8.92 million yuan from institutional investors, but a net outflow of 18.99 million yuan from retail investors [3] - Other stocks like Fuhua Co. (code: 603219) and ST Dehao (code: 002005) also showed varied capital flows, with institutional inflows and retail outflows [3]

Market Overview - The small home appliance sector experienced a decline of 2.16% on October 17, with BeiYikang leading the drop [1] - The Shanghai Composite Index closed at 3839.76, down 1.95%, while the Shenzhen Component Index closed at 12688.94, down 3.04% [1] Stock Performance - Notable stock performances included: - Rainbow Group (003023) rose by 9.99% to a closing price of 24.00, with a trading volume of 103,000 shares and a turnover of 240 million [1] - BeiYikang (6610ZG) fell by 7.39% to a closing price of 35.72, with a trading volume of 24,600 shares and a turnover of approximately 90.78 million [2] - Other companies like Supor (002032) and Joyoung (002242) showed minimal changes, with slight declines of 0.02% and 1.58% respectively [1][2] Capital Flow - The small home appliance sector saw a net outflow of 79.06 million from institutional investors, while retail investors contributed a net inflow of 66.28 million [2] - The capital flow for specific stocks indicated: - Rainbow Group had a net inflow of 81.11 million from institutional investors, while it faced a net outflow of 37.75 million from retail investors [3] - Other companies like Lek Electric (603355) and ST Dehao (002005) also experienced mixed capital flows, with varying degrees of institutional and retail investor activity [3]

Core Insights - Aishida (002403) has reached a deep strategic cooperation consensus with JD Retail, establishing a solid foundation for future win-win development [1] - The collaboration will focus on product innovation, marketing promotion, and channel construction, aiming to explore new directions in the kitchenware and home industry [1] - The partnership is expected to enhance consumer experience by delivering more high-quality products [1]

Market Overview - The small home appliance sector increased by 0.44% on October 15, with BeiYikang leading the gains [1] - The Shanghai Composite Index closed at 3912.21, up 1.22%, while the Shenzhen Component Index closed at 13118.75, up 1.73% [1] Stock Performance - BeiYikang (code: 6610Z6) closed at 38.15, rising by 4.72% with a trading volume of 26,900 lots and a transaction value of 102 million yuan [1] - Other notable performers include: - Aishida (code: 002403) at 14.57, up 3.26% [1] - Ousheng Electric (code: 301187) at 26.48, up 2.20% [1] - Kaineng Health (code: 300272) at 6.56, up 2.18% [1] - Delma (code: 301332) at 9.88, up 1.96% [1] Capital Flow - The small home appliance sector experienced a net outflow of 115 million yuan from institutional investors, while retail investors saw a net inflow of 94.22 million yuan [2] - The capital flow for specific stocks includes: - Xinbao (code: 002705) with a net inflow of 12.21% from institutional investors [3] - Feike Electric (code: 603868) with a net inflow of 18.64% from retail investors [3] - Kaineng Health (code: 300272) with a net outflow of 1.35% from retail investors [3]

Core Viewpoint - Aishida's stock has shown mixed performance in recent trading, with a slight increase on October 15, 2023, but a decline over the past 20 days, indicating potential volatility in the market [1]. Financial Performance - For the first half of 2025, Aishida reported revenue of 1.27 billion yuan, a year-on-year decrease of 1.57%, while net profit attributable to shareholders was 2.80 million yuan, showing a significant increase of 178.60% [2]. - Cumulative cash dividends since Aishida's A-share listing amount to 409 million yuan, with 6.13 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, Aishida had 50,300 shareholders, a decrease of 5.97% from the previous period, with an average of 5,912 circulating shares per shareholder, an increase of 6.35% [2]. - The top ten circulating shareholders saw a change, with the Dazheng Zhongzheng 360 Internet + Index A fund exiting the list [3]. Stock Market Activity - On October 15, 2023, Aishida's stock price reached 14.40 yuan per share, with a trading volume of approximately 50.99 million yuan and a turnover rate of 1.20% [1]. - Year-to-date, Aishida's stock has increased by 1.75%, but it has experienced a decline of 2.77% over the last five trading days and 18.78% over the last 20 days [1].

Market Overview - The small home appliance sector experienced a decline of 3.15% on October 13, with Bei Yi Co. leading the drop [1] - The Shanghai Composite Index closed at 3889.5, down 0.19%, while the Shenzhen Component Index closed at 13231.47, down 0.93% [1] Stock Performance - Key stocks in the small home appliance sector showed varied performance, with Bei Yi Co. closing at 22.88, down 5.26%, and Kewo Si at 97.49, also down 5.26% [2] - Other notable declines included Stone Technology at 187.50, down 5.20%, and Xin Bao Co. at 15.42, down 3.81% [2] Trading Volume and Capital Flow - The small home appliance sector saw a net outflow of 139 million yuan from main funds, while retail investors contributed a net inflow of 97.90 million yuan [2] - The trading volume for key stocks included 136,200 shares for Bei Yi Co. and 51,400 shares for Kewo Si, indicating significant trading activity despite the overall decline [2] Individual Stock Capital Flow - Among individual stocks, Jiu Yang Co. had a main fund net inflow of 3.68 million yuan, while Fu Jia Co. experienced a net outflow of 1.32 million yuan from main funds [3] - Retail investors showed a preference for stocks like Su Po Er, which had a net inflow of 4.19 million yuan from retail investors, despite a net outflow from main funds [3]

Core Insights - The company Aishida showcased its industrial robotics capabilities at the 5th China International Industrial Expo, highlighting its product line expansion with 15 new models [1] - Qianjiang Robotics has achieved a fully controllable supply chain from key components to manufacturing, breaking the long-standing monopoly of imported brands [1] - Aishida's partnership with Honglu Steel Structure for the procurement of 1,888 robots signifies strong market recognition of its customized development and service capabilities [2] Group 1 - Qianjiang Robotics presented three major product platforms at the expo, including desktop 6-axis robots, polishing robots, and high-precision robots, aimed at addressing specific industry pain points [1] - The company has established large-scale applications in smart welding, 3C electronics, steel structures, and shipbuilding, with over 2,000 units of a single welding robot model delivered [1] - The collaboration with Honglu Steel Structure reflects a significant increase in cooperation value, from 546,000 yuan in 2023 to 48.948 million yuan in 2024, indicating explosive growth [2] Group 2 - Since acquiring Qianjiang Robotics in 2016, Aishida has invested billions to enhance smart manufacturing capabilities [2] - The company is accelerating its internationalization efforts, focusing on Southeast Asia, North America, and Europe [2] - Aishida is also exploring AI applications in industrial robotics through investments, mergers, and innovation incubation [2]