Core Insights - The company reported a decline in revenue and net profit for the first three quarters of 2025, but key profitability indicators such as gross margin and net margin showed improvement, indicating resilience and strategic focus in a challenging market environment [1][2] Financial Performance - For the first nine months of 2025, the company achieved revenue of 39.325 billion yuan, a year-on-year decrease of 31.46% - The net profit attributable to shareholders was 337 million yuan, down 35.78% year-on-year - The net profit excluding non-recurring gains and losses was 314 million yuan, a decline of 27.57% year-on-year [1] Profitability Metrics - The overall gross margin for the first three quarters reached 5.07%, an increase of 1.36 percentage points year-on-year - The net margin was 1.01%, slightly up by 0.01 percentage points compared to the same period last year, reflecting improvements in product structure and cost control [1] Quarterly Performance - In Q3 2025, the gross margin was 5.30%, significantly up by 1.66 percentage points year-on-year and up 0.54 percentage points quarter-on-quarter - The net margin for Q3 reached 1.01%, an increase of 0.25 percentage points year-on-year and up 0.11 percentage points quarter-on-quarter, indicating a clear trend of profitability improvement [1] Expense Management - Total operating expenses for Q3 amounted to 1.423 billion yuan, a slight decrease of 2.21 million yuan year-on-year - The expense ratio was 3.62%, up 1.13 percentage points from the same period last year - A reduction in R&D expenses may reflect ongoing resource optimization, while a significant decrease in financial expenses indicates effective capital management [2] Strategic Focus - The company is undergoing a strategic transformation and business restructuring, with revenue adjustments closely linked to its focus on optimizing business structure and concentrating on high-value operations - The continuous improvement in gross margin amidst revenue adjustments suggests that the company's strategies for product mix optimization and operational efficiency are yielding results - This "quality over quantity" approach is expected to lay a solid foundation for the company's future high-quality development [2]

Core Viewpoint - Shenzhen Aishide Co., Ltd. reported strong financial performance for the first three quarters of 2025, with revenue of 39.375 billion yuan and a net profit of 337 million yuan, indicating improved operational quality and cash flow management [1][2]. Financial Performance - The company’s cash and cash equivalents reached 4.695 billion yuan, a 46.58% increase from the beginning of the year [1]. - The net cash flow from operating activities was 2.701 billion yuan, reflecting a year-on-year growth of 129.21% [1]. Industry Trends - The Apple supply chain has seen increased activity, with the iPhone 17 series experiencing a 14% sales growth compared to the previous generation within the first ten days of its launch in China and the U.S. [1]. - Apple is expected to sell between 96 million to 100 million units of the iPhone 17 series in 2025, contributing to an overall shipment of 230 million to 240 million units [1]. Market Activity - Tmall's "Double 11" event saw Apple’s sales exceed 100 million yuan in the first hour, indicating a vibrant consumer electronics market [2]. - The Apple 17 series is noted for its comprehensive upgrades, including AI imaging and new chip technology, marking the beginning of an innovation cycle driven by AI [2]. Company Strategy - Aishide has expanded its "Coodoo" brand with 46 new self-operated Apple APR stores, bringing the total to 246, maintaining its leading position in the industry [2]. - The company is diversifying into health beverages with its brands "Tea Xiaokai" and "Yue Xiaokai," launching new products that cater to various consumer needs [2][3]. Growth Potential - The tea industry in China is projected to reach 22.7 billion yuan in 2025, with a year-on-year growth of 38.2%, presenting a significant opportunity for Aishide [3]. - Aishide's investment in AI and digital transformation through its Aishide Smart City Fund positions the company for long-term growth [3]. Conclusion - Aishide's strong cash flow, leading channel capabilities, and strategic investments in new consumer trends and technologies suggest a robust potential for navigating industry changes and achieving sustained value creation [3].

Core Viewpoint - The company has proposed to reappoint Zhongshunzhonghuan Accounting Firm as its auditing institution for the fiscal year 2025, pending approval from the shareholders' meeting [2][3]. Group 1: Appointment of Auditing Firm - The company held a board meeting on October 24, 2025, where it approved the proposal to reappoint Zhongshunzhonghuan Accounting Firm for the 2025 fiscal year [2][11]. - Zhongshunzhonghuan has been the company's auditing firm since 2024 and has provided objective and fair audit reports reflecting the company's financial status and operational results [3][5]. - The total audit service fee for 2025 is set at 1.55 million, with 1.2 million for annual report auditing and 0.35 million for internal control auditing, unchanged from the previous year [3][9]. Group 2: Auditing Firm's Background - Zhongshunzhonghuan was established in 1987 and is one of the first large accounting firms approved to engage in securities and futures-related business [2][4]. - As of the end of 2024, Zhongshunzhonghuan had 216 partners and 1,304 registered accountants, with 723 having signed securities service audit reports [4][5]. - The firm has a strong investor protection capability, having purchased professional liability insurance with a cumulative compensation limit of 800 million, which has not been utilized [6]. Group 3: Compliance and Integrity - In the past three years, Zhongshunzhonghuan has not faced any criminal penalties, although it has received two administrative penalties and two self-regulatory measures [7]. - The project partners and signing accountants have maintained a clean record with no criminal penalties or administrative sanctions in the last three years [8]. - The independence of Zhongshunzhonghuan and its project partners is confirmed, with no circumstances that could affect their independence [8]. Group 4: Approval Process - The audit committee reviewed Zhongshunzhonghuan's professional competence and integrity on October 21, 2025, and recommended reappointment to the board [11]. - The board meeting on October 24, 2025, passed the proposal with unanimous support [11]. - The reappointment is subject to approval by the shareholders' meeting and will take effect upon approval [11].

Core Viewpoint - Aishide (002416.SZ) reported a decline in both revenue and net profit for the third quarter of 2025, indicating challenges in its financial performance [1] Financial Performance - The company's operating revenue for the third quarter was 14.005 billion yuan, a year-on-year decrease of 24.75% [1] - The net profit attributable to shareholders was 116 million yuan, down 10.73% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 108 million yuan, reflecting a year-on-year decline of 15.44% [1]

Group 1 - The core viewpoint of the news is that Aishide (002416) is experiencing a strategic transformation focusing on high-value-added businesses, which has led to improved operational quality and financial performance despite short-term revenue and profit pressures [1][3] - In the first three quarters of 2025, Aishide achieved a revenue of 39.375 billion yuan and a net profit attributable to shareholders of 337 million yuan, indicating a proactive approach to restructuring low-margin segments [1] - The company's cash flow from operating activities reached 2.7 billion yuan, with a year-on-year increase of 129%, reflecting enhanced sales collection efficiency and cost control [1] Group 2 - Aishide has established a 500 million yuan "Aishide Smart City Fund" in collaboration with a state-owned investment platform, focusing on AI, smart terminals, and robotics, which aligns with government policy support [2] - The fund has made two significant investments in companies specializing in robotics and flexible tactile sensors, showcasing Aishide's unique competitive advantage through its extensive distribution network [2] - The company’s distribution network covers over 100,000 mobile phone stores nationwide, providing essential market access and support for invested companies, thus creating a "technology + channel" synergy [2] Group 3 - The combination of policy benefits and Aishide's strengths is driving the construction of a "industry + capital + channel" growth model, with the current 500 million yuan fund seen as just the starting point [3] - Aishide is expected to leverage its channel resources and industry insights to evolve the fund from a mere investment tool to a platform for industry integration under policy guidance [3] - The company is well-positioned to expand its industrial layout in response to the recovery of the consumer electronics industry and the cultivation of new productive forces, indicating significant future growth potential [3]

Core Viewpoint - Aishide (002416) reported a significant decline in both revenue and net profit for the third quarter of 2025, indicating challenges in market share and business structure optimization [1] Financial Performance - The company's third-quarter revenue was 14.005 billion yuan, a year-on-year decrease of 24.75% [1] - Net profit for the third quarter was 116 million yuan, down 10.73% year-on-year [1] - For the first three quarters, total revenue reached 39.375 billion yuan, reflecting a year-on-year decline of 31.47% [1] - Net profit for the first three quarters was 337 million yuan, a decrease of 35.78% compared to the previous year [1] Market Position - The company's brand market share has declined during the reporting period [1] - Aishide is undergoing optimization and adjustment of its business structure, which has contributed to the decrease in sales scale [1]

Group 1: Company Performance - Aishide reported a revenue of approximately 39.375 billion yuan for the first three quarters of 2025, representing a year-on-year decrease of 31.47% [1] - The net profit attributable to shareholders of the listed company was approximately 337 million yuan, down 35.78% year-on-year [1] - The basic earnings per share were 0.2721 yuan, reflecting a decrease of 35.76% compared to the previous year [1] Group 2: Market Context - As of the report, Aishide's market capitalization stood at 15.9 billion yuan [2] - The Chinese innovative drug sector has seen significant overseas licensing sales, totaling 80 billion US dollars this year [2] - There is a contrast in the biopharmaceutical market, where the secondary market is thriving while the primary market is facing challenges in fundraising [2]

证券代码：002416 证券简称：爱施德 公告编号：2025-055 深圳市爱施德股份有限公司 关于续聘公司2025年度审计机构的公告 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。 特别提示： 本次续聘中审众环会计师事务所（特殊普通合伙）符合财政部、国务院国资委、 证监会印发的《国有企业、上市公司选聘会计师事务所管理办法》（财会〔2023〕4 号）的规定。 深圳市爱施德股份有限公司（以下简称"公司"）于 2025 年 10 月 24 日召开第六 届董事会第二十二次（临时）会议审议通过了《关于续聘公司 2025 年度审计机构的议 案》，同意续聘中审众环会计师事务所（特殊普通合伙）（以下简称"中审众环"） 为公司 2025 年度审计机构，该议案尚需提交公司股东会审议。现将具体内容公告如下： 一、拟续聘会计师事务所事项的情况说明 中审众环始创于 1987 年，是全国首批取得国家批准具有从事证券、期货相关业务 资格及金融业务审计资格的大型会计师事务所之一，持有财政部及中国证监会联合颁 发的会计师事务所证券、期货相关业务审计从业资格，本所具备股份有限公司发行股 份、债 ...

证券代码：002416 证券简称：爱施德 公告编号：2025-053 二、审议通过了《关于续聘公司 2025 年度审计机构的议案》 第六届董事会第二十二次（临时）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容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 深圳市爱施德股份有限公司（以下简称"公司"）第六届董事会第二十二次（临 时）会议通知于 2025 年 10 月 21 日以电子邮件及通讯方式送达全体董事，以现场、通 讯方式于 2025 年 10 月 24 日下午在公司深圳总部 18 层 A 会议室召开了本次会议。本 次会议应出席董事 7 名，实际出席董事 7 名，其中董事黄文辉先生、周友盟女士、独 立董事林斌先生出席现场会议，董事黄绍武先生、喻子达先生、独立董事吕良彪先生、 葛俊先生以通讯方式参会并进行表决。公司部分高级管理人员列席了本次会议。本次 会议的出席人数、召集、召开程序和议事内容均符合《中华人民共和国公司法》和《公 司章程》的规定。 本次会议由董事长黄文辉先生召集并主持。经与会董事投票表决，做出如下决议： 一、审议通过了《2025 年第三季度报告》 表决结果：同意 7 票，反对 ...

Financial Performance - The company's revenue for Q3 2025 was ¥14,005,040,889.85, a decrease of 24.75% compared to the same period last year[4]. - Net profit attributable to shareholders was ¥115,605,390.94, down 10.73% year-on-year, while the net profit excluding non-recurring items was ¥107,529,270.25, a decline of 15.44%[4]. - The company experienced a 31.47% decline in total revenue for the first nine months of 2025 compared to the same period in 2024, primarily due to a decrease in market share[8]. - Total operating revenue for the period was CNY 39,375,350,355.54, a decrease from CNY 57,458,388,237.18 in the previous period, representing a decline of approximately 31.4%[22]. - Operating profit for the period was CNY 573,913,999.80, compared to CNY 809,307,663.29 in the previous period, reflecting a decrease of approximately 29.1%[22]. - Net profit for the period after tax expenses was CNY 396,945,271.09, down from CNY 575,300,186.67, a decline of around 30.9%[22]. - The net profit for the current period is approximately ¥396.95 million, a decrease from ¥575.30 million in the previous period, representing a decline of about 30.96%[23]. - The net profit attributable to the parent company's shareholders is approximately ¥337.16 million, down from ¥524.99 million, reflecting a decrease of around 35.73%[23]. - The total comprehensive income for the current period is approximately ¥383.78 million, compared to ¥572.69 million in the previous period, indicating a decline of about 33.05%[23]. - The basic and diluted earnings per share for the current period are both ¥0.2721, down from ¥0.4236 in the previous period, a decrease of approximately 35.83%[23]. Assets and Liabilities - The total assets at the end of the reporting period were ¥12,813,096,864.70, reflecting a 7.43% increase from the end of the previous year[4]. - Total assets increased to CNY 12,813,096,864.70 from CNY 11,927,083,821.06, reflecting a growth of approximately 7.4%[21]. - Total liabilities rose to CNY 6,685,737,405.80 from CNY 5,432,882,053.85, indicating an increase of about 23.0%[21]. - The company's equity attributable to shareholders decreased to CNY 5,823,438,656.49 from CNY 6,117,324,142.79, a decline of approximately 4.8%[21]. - The company's total liabilities increased, with accounts payable rising by 149.51% to ¥1,629,419,593.86, attributed to increased purchases from suppliers[8]. Cash Flow - The company reported a significant increase in cash flow from operating activities, amounting to ¥2,701,399,586.98, which is a 129.21% increase year-to-date[4]. - Cash flow from operating activities generated a net cash inflow of approximately ¥2.70 billion, an increase from ¥1.18 billion in the previous period, representing a growth of about 129.00%[24]. - Cash inflow from investment activities totaled approximately ¥1.75 billion, down from ¥2.07 billion, indicating a decrease of about 15.16%[25]. - Cash flow from financing activities resulted in a net outflow of approximately ¥793.64 million, compared to a net inflow of ¥504.95 million in the previous period, reflecting a significant change[26]. - The ending balance of cash and cash equivalents is approximately ¥3.75 billion, a decrease from ¥3.95 billion in the previous period, representing a decline of about 4.94%[26]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 76,159[11]. - Shenzhen Shenzhou Tong Investment Group Co., Ltd. holds 39.50% of shares, totaling 489,464,303 shares[11]. - The second-largest shareholder, Ganjian New District Global Star Investment Management Co., Ltd., holds 4.36% of shares, totaling 54,000,000 shares[11]. Investments and Partnerships - The company has established a partnership with Shenzhen Smart City Investment Private Fund Management Co., Ltd. to create the Shenzhen Aishide Smart City Industry Investment M&A Partnership, with a total subscribed capital of RMB 500 million[14]. - The first phase of the Aishide Smart City Fund has completed a capital contribution of RMB 51.918367 million[15]. - The company participated in a new round of financing for Hangzhou Yundong Technology Co., Ltd. in July 2025[15]. - The company plans to acquire limited partner shares in a controlling enterprise to optimize its external investment structure[16]. - The company holds a 25.5539% stake in Shenzhen Xingmeng Information Technology Partnership through its subsidiary[16]. Other Financial Metrics - The company's financial expenses decreased by 41.30% to ¥50,008,909.46, resulting from optimized financing structures[9]. - The company’s cash flow from financing activities showed a significant decline of 257.17%, indicating reduced financing needs[9]. - Research and development expenses were CNY 15,939,592.27, down from CNY 19,543,705.85, a decrease of about 18.0%[22]. - The company reported a decrease in other comprehensive income, with a tax effect of approximately -¥13.16 million compared to -¥2.61 million in the previous period[23]. - The company has not undergone an audit for the third quarter financial report[27].