证券代码：002609 证券简称：捷顺科技 公告编号：2025-063 三、备查文件 1、《公司第七届董事会第二次会议决议》； 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 一、会议召开情况 深圳市捷顺科技实业股份有限公司（以下简称"公司"）第七届董事会第二次 会议通知已于 2025 年 10 月 17 日以电子邮件或电话方式发出，会议于 2025 年 10 月 24 日在深圳市龙华区观盛二路 5 号捷顺科技中心 A 座 2306 会议室以现场 结合通讯表决方式召开。本次会议应参加表决的董事 9 名，实际参加表决的董事 9 名。会议由董事长唐健先生召集和主持，公司部分高级管理人员列席了本次会 议。本次会议的召集、召开和表决程序符合《中华人民共和国公司法》和《公司 章程》的有关规定。 二、会议审议情况 会议以 9 票赞成、0 票反对、0 票弃权，审议通过了《关于公司<2025 年第 三季度报告>的议案》。 公司董事会同意对外披露《2025年第三季度报告》。具体内容详见同日披露 于《证券时报》《上海证券报》及巨潮资讯网（https://www.cninfo.co ...

Financial Performance - The company's revenue for Q3 2025 reached ¥405,836,378.88, representing a year-on-year increase of 9.35%[5] - Net profit attributable to shareholders was ¥30,114,352.56, up 15.86% compared to the same period last year[5] - The total profit for the first nine months of 2025 was ¥85,354,912.72, an increase of 52.5% compared to ¥55,958,556.20 in the same period of 2024[9] - The company reported a basic earnings per share of ¥0.0472, which is a 17.71% increase year-on-year[5] - The weighted average return on equity was 1.29%, an increase of 0.16% from the previous year[5] - The company reported a net profit margin improvement, with net profit attributable to shareholders increasing to RMB 637.78 million from RMB 611.11 million, reflecting a growth of 4.4%[18] - The net profit for the current period is CNY 77,463,730.54, an increase of 77.5% compared to CNY 43,623,830.69 in the previous period[20] - The operating profit for the current period is CNY 85,824,096.56, up from CNY 54,961,285.14, reflecting a growth of 56.2%[20] - The total comprehensive income for the current period is CNY 77,463,730.54, compared to CNY 43,623,830.69 in the previous period, reflecting an increase of 77.5%[20] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥3,991,168,809.19, reflecting an increase of 8.13% from the end of the previous year[5] - The company's total assets reached RMB 3,991.17 million, an increase of 8.1% from RMB 3,691.16 million at the beginning of the period[18] - The company has seen an increase in non-current liabilities due to new leasing obligations from parking lot contracts, totaling ¥500,552,602.34[9] - Non-current liabilities rose to RMB 500.55 million, up from RMB 275.69 million, marking an increase of 81.6%[17] Cash Flow - The cash flow from operating activities for the year-to-date reached ¥266,804,092.02, a significant increase of 105.01%[5] - The net cash flow from operating activities is CNY 266,804,092.02, which is a significant increase from CNY 130,140,473.05 in the previous period[21] - The cash flow from investing activities shows a net outflow of CNY 87,183,107.88, worsening from a net outflow of CNY 15,705,537.60 in the previous period[21] - The cash flow from financing activities resulted in a net outflow of CNY 186,952,014.60, compared to a net outflow of CNY 225,998,849.25 in the previous period, showing an improvement[22] Shareholder Actions - The company completed a share buyback program, repurchasing 3,650,000 shares, which is 0.57% of the total share capital, at a total cost of approximately RMB 25.49 million[14] - The company plans to utilize its buyback shares for employee stock ownership and/or equity incentive plans, with a budget between RMB 25 million and RMB 50 million[14] Costs and Expenses - Total operating revenue for the current period reached RMB 1,149.49 million, an increase of 16.9% compared to RMB 983.49 million in the previous period[19] - Total operating costs increased to RMB 1,086.16 million, up 13.2% from RMB 959.43 million in the previous period[19] - Research and development expenses were RMB 79.36 million, slightly down from RMB 80.66 million, indicating a focus on cost management[19] Cash and Equivalents - Cash and cash equivalents increased to RMB 718.13 million, up from RMB 684.43 million, indicating a growth of 4.9%[16] - The cash and cash equivalents at the end of the period amount to CNY 552,298,131.08, down from CNY 585,344,736.61 in the previous period[22] Non-Recurring Items - The net profit after deducting non-recurring gains and losses was ¥25,249,747.10, a slight decrease of 0.25% year-on-year[5] - Non-recurring gains and losses for the current period totaled ¥4,864,605.46, with government subsidies contributing ¥4,636,993.45[6] Audit Status - The company has not undergone an audit for the third quarter financial report[23]

Core Viewpoint - The company reported a revenue of 406 million yuan in the third quarter, representing a year-on-year growth of 9.35%, and a net profit of 30.11 million yuan, reflecting a year-on-year increase of 15.86% [1] Group 1: Quarterly Performance - The third quarter revenue was 406 million yuan, up 9.35% year-on-year [1] - The net profit for the third quarter was 30.11 million yuan, an increase of 15.86% year-on-year [1] Group 2: Year-to-Date Performance - For the first three quarters, the total revenue reached 1.149 billion yuan, showing a year-on-year growth of 16.88% [1] - The net profit for the first three quarters was 71.59 million yuan, which is a significant year-on-year increase of 66.46% [1]

Key Points - The report highlights a selection of stocks for October, including companies such as China Southern Airlines (600029.SH) and Contemporary Amperex Technology Co., Ltd. (300750.SZ) [1] - The macroeconomic analysis indicates that China's foreign trade has shown strong resilience, leading to a record high in the current account surplus for the first half of the year, while the surplus as a percentage of GDP remains within internationally recognized reasonable limits [2][4] - The solid-state battery technology is identified as the next generation of power batteries for electric vehicles, with significant advantages in safety and energy density, supported by government policies [6][7] - The solid-state battery equipment market is projected to grow rapidly, with an estimated global market size of 4 billion yuan in 2024, and expected to reach 107.94 billion yuan by 2030 [7] - Shengquan Group is recognized as a leading synthetic resin enterprise in China, expanding into biomass chemicals and electronic chemicals, with a robust growth trajectory driven by increasing demand in downstream sectors [10][11] - The demand for electronic resins is expected to rise significantly due to the growth of AI servers and the ongoing domestic substitution of electronic resins [10][11] - The report notes that the global market for silicon-based anode materials is projected to reach 30 billion yuan by 2025, driven by the increasing demand for electric vehicles and energy storage [12] - Shengquan Group's proprietary biomass refining technology is highlighted for its ability to achieve high-value utilization of biomass, contributing to a complete industrial chain [13]

Core Insights - The report highlights a focus on the macroeconomic environment, indicating that the industrial added value in September showed a year-on-year growth of 6.5%, which is an increase compared to August and better than market expectations [6][8] - The report notes that the fixed asset investment growth rate for the first nine months of 2025 has fallen into negative territory, with a cumulative year-on-year decline of 0.5% [7][9] - The real estate sector is experiencing a decline in housing prices, with new home prices in 70 major cities decreasing by 0.4% month-on-month in September, and second-hand home prices also down by 0.6% [10][11] Macroeconomic Overview - In September, the industrial added value increased by 6.5% year-on-year, with manufacturing showing a cumulative growth of 6.8% for the first nine months [6][8] - The actual GDP growth for the first three quarters was 5.2%, with expectations to meet the annual target of 5.0% [6][9] - Fixed asset investment in the first nine months saw a decline of 0.5%, with private investment down by 3.1% [7][9] Real Estate Sector Analysis - The report indicates that in September, 63 out of 70 cities saw a month-on-month decline in new home prices, with an average drop of 0.47% [11][12] - The second-hand home prices in all 70 cities also experienced a decline, marking a significant trend as it is the first time in a year that all cities reported falling prices [10][11] - In first-tier cities, new home prices decreased by 0.3%, while second-hand home prices fell by 1.0%, indicating a more pronounced decline compared to second and third-tier cities [12][13] Investment Opportunities - The report lists a selection of stocks recommended for investment, including companies like Nanfang Airlines and Ningde Times, suggesting potential opportunities in the aviation and battery sectors [1] - The performance of various industry indices shows that the telecommunications and electronics sectors have seen significant gains, with increases of 4.90% and 3.50% respectively [4]

Market Overview - The shared economy sector increased by 0.46% on October 21, with Haikong Group leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Top Performers in Shared Economy Sector - Haikong Group (603069) closed at 28.66, up 7.22% with a trading volume of 471,000 shares and a turnover of 1.337 billion yuan [1] - Shilianhang (002285) closed at 2.38, up 3.93% with a trading volume of 593,800 shares and a turnover of 139 million yuan [1] - Xinlong Health (002105) closed at 6.93, up 2.97% with a trading volume of 81,000 shares and a turnover of 55.435 million yuan [1] Fund Flow Analysis - The shared economy sector experienced a net outflow of 427 million yuan from institutional investors, while retail investors saw a net inflow of 316 million yuan [2] - The sector's overall fund flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2][3] Individual Stock Fund Flow - SAIC Group (600104) had a net inflow of 17.3522 million yuan from institutional investors, while it faced a net outflow of 18.0513 million yuan from speculative funds [3] - Zhongbei Communication (603220) saw a net inflow of 17.2214 million yuan from institutional investors, with a net outflow of 5.2555 million yuan from speculative funds [3] - Jieshun Technology (002609) recorded a net inflow of 11.84 million yuan from institutional investors, while speculative funds had a net outflow of 5.9588 million yuan [3]

Core Insights - The article discusses the release of a guide by iResearch and Jieshun Technology, which outlines a digital management path for China's industrial parks, focusing on asset appreciation, cost reduction, and customer operations [1][2] Group 1: Challenges Faced by Industrial Parks - Chinese industrial parks are experiencing multiple challenges, including a slowdown in the growth rate of managed area to single digits and an annual increase in labor costs of 6%-8% [1] - Over 75% of parks face issues with system fragmentation and data silos, with a work order processing delay rate as high as 40% [1] - Non-rental income typically accounts for less than 5% of total income in these parks [1] Group 2: Digital Management Models - The guide proposes three digital management models to address these challenges, advocating for the concept of "space as an asset" to activate diverse resources [2] - For example, Jieshun Technology's center achieved a cost reduction of 300,000 yuan and an income increase of over 700,000 yuan through integrated operation of parking spaces [2] - The implementation of automated work orders, intelligent equipment inspections, and precise energy consumption control has reduced equipment repair response time from 2 hours to 20 minutes in the Shenzhen Junxiang U8 manufacturing park [2] Group 3: Customer Operations Improvement - A one-stop online platform for customer operations has been developed, streamlining the process from three days to just 30 minutes for enterprise entry [2] - Overall property service efficiency has improved by 30%, and labor costs have decreased by 30% [2]

Core Insights - The article discusses the release of a guide by iResearch and Jieshun Technology, which presents a digital management path for China's industrial parks transitioning from expansion to efficiency improvement [1][2] Group 1: Challenges Faced by Industrial Parks - Chinese industrial parks are experiencing multiple challenges, including a slowdown in the growth rate of managed area to single digits and an annual increase in labor costs of 6%-8% [1] - Over 75% of parks face issues with system fragmentation and data silos, with a work order processing delay rate as high as 40% [1] - Non-rental income typically accounts for less than 5% of total income in these parks, indicating a need for diversification [1] Group 2: Digital Management Models - The guide proposes three digital management models to address these challenges, emphasizing the concept of "space as an asset" to activate diverse resources [2] - For asset appreciation, Jieshun Technology's center achieved a cost reduction of 300,000 yuan and an income increase of over 700,000 yuan through integrated operations [2] - In terms of property cost reduction and efficiency improvement, the U8 Intelligent Manufacturing Industrial Park reduced equipment repair response time from 2 hours to 20 minutes, and overall service efficiency improved by 30% with a 30% reduction in labor costs [2] - The guide also highlights a one-stop online platform for customer operations, which can compress the enterprise entry process from 3 days to 30 minutes [2]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report emphasizes the continuous recommendation of domestic investment opportunities due to increasing external technology controls and the ongoing promotion of domestic innovation policies, indicating a clear trend towards self-sufficiency in key technologies [6][13] - The performance of leading domestic computing companies is showing significant revenue growth, validating the trend of domestic industrial development [7][14] Summary by Sections Weekly Perspective - The report highlights the sustained recommendation of domestic investment opportunities, noting a decline in the CSI 300 index by 2.22% and a 5.61% drop in the computer index during the week of October 13-17, 2025 [5][12] Company Dynamics - Haiguang Information reported a revenue of 40.26 billion yuan for Q3 2025, marking a year-on-year growth of 69.60% and a net profit of 759.99 million yuan, up 13.04% [16] - Cambricon Technologies achieved a revenue of 1.727 billion yuan in Q3 2025, with a staggering year-on-year increase of 1332.52%, and a net profit of 567 million yuan, indicating a strong turnaround [14] Investment Recommendations - Key domestic software companies recommended include Kingsoft Office, Dameng Data, and others, while leading domestic computing companies such as Haiguang Information and Sugon are also highlighted for their growth potential [8][15]

Key Points Summary Core Insights - The report highlights a positive trend in China's export growth, with a year-on-year increase of 6.1% in the first three quarters, and a notable rise of 8.3% in September alone, supported by ASEAN and EU markets [5][6] - The report indicates a mixed performance in inflation metrics, with the Consumer Price Index (CPI) showing a year-on-year decline of 0.3% in September, while the Producer Price Index (PPI) saw a slight improvement with a year-on-year decrease of 2.3% [9][12] - The report discusses the impact of new port fees imposed by the U.S. on Chinese shipping, which may lead to increased operational costs and a potential restructuring of trade routes [28][31] Macroeconomic Overview - In September, China's exports continued to show positive growth, with a trade surplus of $8750.8 billion and imports declining by 1.1% [5][6] - The report notes that high-tech product imports remain robust, with significant growth in semiconductor and machinery imports [7] - The financial data for September indicates a slight improvement in social financing and M1 growth, while M2 growth remains subdued, reflecting weak demand in the real economy [14][15] Inflation Analysis - The CPI in September showed a 0.1% month-on-month increase, while the core CPI rose by 1.0% year-on-year, indicating a gradual recovery in core inflation metrics [9][11] - Food prices have been a significant factor in the CPI decline, with a year-on-year drop of 4.4% in September, impacting overall inflation [10][11] - The PPI's year-on-year decline has narrowed, suggesting potential stabilization in industrial prices due to policy effects and market adjustments [12][27] Industry Insights - The manufacturing sector's PMI in September was recorded at 49.8%, indicating a slight recovery in manufacturing activity, with new orders and production indices showing positive trends [18][19] - The report emphasizes the need for continued domestic demand policies to support the manufacturing sector amid ongoing challenges [20] - The transportation sector faces increased costs due to new U.S. port fees, which may affect shipping profitability and lead to a shift towards indirect trade routes [28][30] Strategic Considerations - The report suggests that despite short-term market fluctuations, the underlying industrial trends remain strong, with a focus on sectors that can adapt to changing trade dynamics [21][24] - The potential for "迂回贸易" (indirect trade) may reshape logistics and supply chains, particularly in response to increased operational costs from new tariffs [31] - The report highlights the importance of monitoring macroeconomic policies and their impact on market expectations, particularly in light of upcoming economic meetings [22][24]