Core Insights - The company reported a total revenue of 899 million yuan for Q3 2025, a decrease of 233 million yuan compared to the same period last year, representing a year-on-year decline of 20.57% [1] - The net profit attributable to shareholders was 67.31 million yuan, with net cash inflow from operating activities amounting to 108 million yuan, down by 55.01 million yuan year-on-year, a decline of 33.79% [1] Financial Performance - The latest asset-liability ratio stands at 22.33% [3] - The gross profit margin is 26.95%, a decrease of 0.44 percentage points from the previous quarter [4] - The return on equity (ROE) is 3.61% [4] - The diluted earnings per share (EPS) is 0.03 yuan, down by 0.02 yuan year-on-year, reflecting a decline of 39.20% [4] - The total asset turnover ratio is 0.33 times, a decrease of 0.07 times year-on-year, representing a decline of 17.75% [4] - The inventory turnover ratio is 2.34 times [4] Shareholder Structure - The number of shareholders is 43,900, with the top ten shareholders holding a total of 395 million shares, accounting for 37.23% of the total share capital [4] - The largest shareholder is Shunhao Investment Group Co., Ltd., holding 20.10% of the shares [4]

Core Viewpoint - The company has disclosed its quarterly financial report, ensuring the accuracy and completeness of the information provided, and has outlined significant corporate actions including employee stock ownership plans and share repurchase initiatives [2][3][9]. Financial Data - The company confirmed an employee stock ownership plan expense of 10,384,327.50 yuan for the reporting period, resulting in a net profit attributable to shareholders of 3,035,198.91 yuan after excluding non-recurring gains and losses [3]. - The financial report for the third quarter has not been audited [12]. Shareholder Information - The company has received a notice from the Chuzhou Municipal Supervisory Committee regarding an investigation into alleged bribery, with no updates on the matter as of now [6]. - The company has completed the transfer of 28,661,750 shares to the employee stock ownership plan, representing 2.7040% of the total share capital, at a price of 2.74 yuan per share [8]. Corporate Actions - The company approved a second share repurchase plan on September 18, 2025, with a total repurchase amount between 100 million yuan and 200 million yuan, and a maximum repurchase price of 11.82 yuan per share [9]. - As of October 9, 2025, the company has repurchased a total of 12,511,315 shares, accounting for 1.1803% of the total share capital, with a total expenditure of 92,948,913.45 yuan [10]. - The company has sold a 49% stake in a subsidiary, with the transfer payment of 29.89 million yuan fully received [11].

Core Insights - The company, Shunhao Co., Ltd., reported a decrease in revenue for the first three quarters of the year, amounting to 898,975,129.77 yuan, which represents a year-on-year decline of 20.57% [1] - Despite the drop in revenue, the net profit attributable to shareholders increased to 67,318,998.71 yuan, reflecting a year-on-year growth of 20.29% [1] - New shareholders in the top ten circulating shareholders include Shanghai Shunhao New Materials Technology Co., Ltd. - 2025 Employee Stock Ownership Plan, Guan Zhuyue, and Zhejiang Southeast Network Framework Group Co., Ltd. [1]

顺灏股份公告，第三季度营收为2.79亿元，同比下降34.43%；净利润为3401.56万元，同比增长 17.65%。前三季度营收为8.99亿元，同比下降20.57%；净利润为6731.9万元，同比增长20.29%。 ...

上海顺灏新材料科技股份有限公司 2025 年第三季度报告 上海顺灏新材料科技股份有限公司 2025年第三季度报告 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。 重要内容提示： 1.董事会及董事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担 个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度财务会计报告是否经过审计 证券代码：002565 证券简称：顺灏股份 公告编号：2025-059 □是 ☑否 1 上海顺灏新材料科技股份有限公司 2025 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 ☑否 | | 本报告期 | 本报告期比上年同 | 年初至报告期末 | 年初至报告期末比 | | --- | --- | --- | --- | --- | | | | 期增减 | | 上年同期增减 | | 营业收入（元） | 279,432,537.94 | -34 ...

Core Viewpoint - The vacuum aluminum paper industry is experiencing significant growth due to its environmental advantages over traditional aluminum foil, with market size projected to reach 32 billion yuan in 2024 and 35 billion yuan in 2025 [1][7]. Industry Overview - Vacuum aluminum paper is a functional packaging material created by depositing a thin layer of aluminum on paper through vacuum deposition technology, making it an eco-friendly alternative to aluminum foil [3][5]. - The aluminum layer thickness of vacuum aluminum paper is only 0.03-0.04mm, significantly lower than that of aluminum foil, which is over 200 times more aluminum-intensive and less recyclable [1][7]. Market Size and Growth - The market size for vacuum aluminum paper in China is expected to grow from 32 billion yuan in 2024 to approximately 35 billion yuan in 2025 [1][7]. - The tobacco packaging market, which is a significant application area for vacuum aluminum paper, is projected to grow from 29.774 billion yuan in 2020 to 32.638 billion yuan in 2024 [6]. Industry Chain - The upstream materials for vacuum aluminum paper include aluminum foil, paper pulp, and coating materials, which directly affect the final product's performance [5]. - The downstream applications span various industries, including tobacco, food, pharmaceuticals, cosmetics, and electronics, with demand fluctuations impacting sales and pricing [5][6]. Competitive Landscape - The vacuum aluminum paper industry exhibits a "one strong, many strong" competitive structure, with leading companies establishing high barriers to entry through technology and supply chain integration [9]. - Key players include Shanghai Shunhao New Materials Technology Co., Ltd., Xianhe Co., Ltd., and Shandong Jinmai Material Technology Co., Ltd., among others [9][10]. Development Trends - The industry is moving towards functionalization and high-end upgrades, with increasing demand for antibacterial, anti-counterfeiting, and electromagnetic shielding features [11]. - Emerging applications in new industries such as electric vehicles and smart homes are expected to drive growth, with specific needs for high-temperature resistant and insulating materials [12]. - The international market for vacuum aluminum paper is expanding due to rising demand for eco-friendly packaging materials, supported by China's robust production capabilities and policy backing [13].

Group 1 - The core viewpoint of the news highlights the trading performance and financial metrics of Shunhao Co., indicating a mixed sentiment in the market with a slight increase in stock price but negative net financing [1] - On October 15, Shunhao Co. saw a stock price increase of 1.97% with a trading volume of 144 million yuan, while the net financing was negative at -13.95 million yuan [1] - As of October 15, the total margin trading balance for Shunhao Co. was 715 million yuan, accounting for 9.32% of its market capitalization, indicating a high level of margin trading activity [1] Group 2 - As of June 30, the number of shareholders for Shunhao Co. was 46,100, a decrease of 11.52% from the previous period, while the average circulating shares per person increased by 13.01% to 23,011 shares [2] - For the first half of 2025, Shunhao Co. reported a revenue of 620 million yuan, a year-on-year decrease of 12.19%, while the net profit attributable to shareholders increased by 23.11% to 33.30 million yuan [2] Group 3 - Since its A-share listing, Shunhao Co. has distributed a total of 427 million yuan in dividends, with 68.81 million yuan distributed over the past three years [3]

Core Viewpoint - The company announced a share buyback plan, indicating a commitment to returning value to shareholders and potentially signaling confidence in its financial health [2] Summary by Categories Share Buyback Details - As of October 9, 2025, the company has repurchased a total of 12,511,315 shares through a dedicated securities account via centralized bidding, which represents 1.1803% of the company's current total share capital [2]

Group 1 - The core point of the article is that Shunhao Co., Ltd. has conducted a share buyback, repurchasing a total of 12,511,315 shares, which represents 1.1803% of the company's total share capital [1] - The buyback was executed through a special securities account for stock repurchase via centralized bidding, complying with relevant laws and regulations [1] - The highest transaction price during the buyback was 7.70 CNY per share, while the lowest was 7.19 CNY per share, with a total payment amounting to 92,948,913.45 CNY (excluding transaction fees) [1]

证券代码：002565 证券简称：顺灏股份 公告编号：2025-058 上海顺灏新材料科技股份有限公司 关于回购股份比例达总股本1%暨回购股份进展的 公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 上海顺灏新材料科技股份有限公司（以下简称"公司"）于 2025 年 9 月 18 日召开第六届董事会第十次会议，审议通过了《关于实施 2025 年第二次回购公司 股份方案的议案》。同意以专项回购贷款资金和公司自有资金，通过深圳证券交 易所交易系统以集中竞价交易方式回购部分公司股份，用于实施员工持股计划或 股权激励。本次回购股份的资金总额不低于人民币 10,000 万元且不超过人民币 20,000 万元（均包含本数），回购价格不超过 11.82 元/股（含）。按回购股份价 格上限 11.82 元/股测算，预计回购股份数量为 8,460,237 股至 16,920,474 股， 占公司目前总股本比例的 0.80%至 1.60%（为四舍五入后测算的数据，下同），具 体回购股份的数量以回购期限届满时实际回购的股份数量为准。回购期限自第六 届董事会第十次会议审议通过本次回购股 ...