Group 1 - ST Huaxi announced the convening of its 19th board meeting on October 28, 2025, to discuss the appointment of a Chief Compliance Officer and other documents [1] - For the first half of 2025, ST Huaxi's revenue composition was 98.67% from boiler manufacturing and 1.33% from other businesses [1] - As of the report date, ST Huaxi's market capitalization was 3.6 billion yuan [1] Group 2 - The A-share market has surpassed 4,000 points, marking a significant resurgence after ten years of stagnation, with a new "slow bull" market pattern emerging driven by technology [1]

Group 1 - ST Huaxi reported a revenue of approximately 1.446 billion yuan for the first three quarters of 2023, a year-on-year decrease of 29.5% [1] - The net profit attributable to shareholders was approximately 37.33 million yuan, representing a year-on-year decrease of 50.93% [1] - The basic earnings per share were 0.0316 yuan, also down by 50.93% year-on-year [1] Group 2 - As of the report, ST Huaxi's market capitalization stood at 3.6 billion yuan [2]

证券代码：002630 证券简称：ST 华西 公告编号：2025-069 华西能源工业股份有限公司 第六届董事会第十九次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会召开情况 华西能源工业股份有限公司（以下简称"公司"）第六届董事会第十九次会 议（以下简称"会议"）于 2025 年 10 月 28 日在公司行政楼一楼会议室以现场 结合通讯表决方式召开。会议通知于 2025 年 10 月 22 日以电话、书面形式发出。 会议应参加董事 9 人，实参加董事 9 人。公司高级管理人员列席会议。会议的召 集、召开符合《公司法》和《公司章程》的有关规定。 二、董事会会议审议情况 会议由公司董事长黄有全先生主持，经全体董事审议并以记名投票方式表决， 会议通过了如下决议： （一）审议通过《公司 2025 年第三季度报告》 公司董事会根据有关法律法规和中国证监会、深圳证券交易所的有关规定， 依照法定程序，编制了《公司 2025 年第三季度报告》，公司董事、高级管理人员 签署了关于 2025 年第三季度报告的书面确认意见，报告内容真实、准确、完整 地反 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥423,981,245.60, a decrease of 25.40% compared to the same period last year[4] - The net profit attributable to shareholders was ¥1,155,317.94, down 91.73% year-on-year, while the net profit excluding non-recurring items was -¥521,591.16, a decline of 103.46%[4] - The company's basic earnings per share for Q3 2025 was ¥0.0010, reflecting a 91.53% decrease year-on-year[4] - Total operating revenue decreased to ¥1,446,120,071.25 from ¥2,051,340,599.59, representing a decline of approximately 29.5% year-over-year[25] - Net profit for the period was ¥37,885,906.20, down from ¥63,396,619.48, indicating a decline of approximately 40.3% year-over-year[26] - Basic earnings per share decreased to ¥0.0316 from ¥0.0644, a decline of approximately 50.9%[27] Cash Flow - The cash flow from operating activities for the year-to-date period reached ¥75,288,103.76, an increase of 110.50% compared to the previous year[4] - Cash inflow from operating activities increased to ¥1,386,431,996.15 from ¥821,377,414.88, an increase of approximately 68.5% year-over-year[29] - The net cash flow from operating activities was $75,288,103.76, a significant improvement compared to a negative cash flow of -$717,220,005.14 in the previous period[30] - Total cash outflow from operating activities amounted to $1,311,143,892.39, down from $1,538,597,420.02[30] - Cash paid to employees was $83,119,349.05, compared to $106,955,471.86 in the previous period[30] - Cash paid for taxes was $22,438,668.11, down from $92,032,496.68[30] Assets and Liabilities - Total assets at the end of the reporting period were ¥9,471,760,803.57, a decrease of 1.63% from the end of the previous year[4] - Current assets totaled CNY 4.091 billion, down from CNY 4.290 billion at the start of the period, indicating a reduction of approximately 4.6%[21] - The total liabilities decreased to ¥9,081,535,681.56 from ¥9,285,745,208.44, a reduction of about 2.2%[24] - Current liabilities increased to ¥7,304,419,093.71 from ¥5,488,899,912.48, an increase of approximately 33.0%[24] - Non-current liabilities decreased significantly to ¥1,777,116,587.85 from ¥3,796,845,295.96, a decline of about 53.2%[24] Shareholder Information - The total number of common shareholders at the end of the reporting period is 49,326[16] - The largest shareholder, Li Renchao, holds 11.61% of the shares, totaling 137,063,713 shares, with 107,000,000 shares pledged[16] - The top 10 shareholders do not have any shares involved in margin trading or lending[17] - There are no changes in the top 10 shareholders due to margin trading or lending activities compared to the previous period[18] Legal and Regulatory Matters - The company is currently involved in multiple lawsuits related to project payments, with one case involving a claim of 11.13 million RMB[18] - The company has filed a lawsuit against Shanghai Machine Research Institute for unpaid goods amounting to CNY 18.9095 million, with the case yet to be heard in court[19] - The company is undergoing judicial appraisal for project costs due to disputes over settlement amounts[18] - There are ongoing disputes regarding project settlements with Jiang'an Xing'an Transportation Construction Investment Co., with claims of 41.35 million RMB pending[18] Operational Developments - The company has signed an EPC contract for the Wuhan Southern Waste-to-Energy Plant expansion project, with the company as the lead partner[19] - The company signed a major contract for the Laos Southern Clean Energy Project and received a partial advance payment, currently collaborating with the owner on preliminary work[19] - The company has completed part of its internal control rectification plan following an audit report that expressed an inability to provide an opinion, with ongoing efforts to address remaining issues[19] - The company has not disclosed any new product developments or market expansion strategies in the current reporting period[18] - The company has not reported any new mergers or acquisitions during this period[18] Investment Income - The company reported a significant decrease in investment income, which fell by 73.07% to ¥16,187,226.83 due to the absence of large gains from equity transfers seen in the previous year[11] Equity and Retained Earnings - The total equity attributable to shareholders increased to ¥241,321,598.73 from ¥200,427,311.34, an increase of approximately 20.4%[24] - The company's retained earnings showed a slight improvement, with a loss of ¥1,793,741,088.69 compared to a loss of ¥1,831,068,635.08 in the previous period[24]

Market Performance - The other power equipment sector increased by 1.76% on the previous trading day, with ST Huaxi 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] Stock Performance - ST Huaxi (002630) closed at 3.17, with a rise of 4.62% and a trading volume of 1.1053 million shares, totaling a transaction value of 348 million yuan [1] - Magpower (002851) closed at 75.30, up 3.43%, with a trading volume of 179,600 shares and a transaction value of 1.339 billion yuan [1] - Other notable stocks include Oulu Tong (300870) at 191.80 (+3.06%), Keda (002518) at 39.96 (+2.99%), and China Power (600482) at 22.28 (+2.96%) [1] Capital Flow - The other power equipment sector saw a net inflow of 68.8837 million yuan from main funds, while retail investors experienced a net outflow of 36.6678 million yuan [2] - Main funds showed significant net inflows in stocks like Keda (002335) with 12 million yuan and Oulu Tong (300870) with 47.653 million yuan [3] Individual Stock Analysis - Keda (002335) had a main fund net inflow of 12 million yuan, but retail investors had a net outflow of 10.3 million yuan [3] - Oulu Tong (300870) experienced a main fund net inflow of 47.653 million yuan, with retail investors also showing a net outflow of 31.3134 million yuan [3] - ST Huaxi (002630) had a main fund net inflow of 35.7524 million yuan, while retail investors had a net outflow of 14.1131 million yuan [3]

Core Viewpoint - The other power equipment sector experienced a rise of 1.17% on October 20, with Kewell leading the gains, while the Shanghai Composite Index closed at 3863.89, up 0.63% [1]. Group 1: Market Performance - The other power equipment sector saw individual stocks perform variably, with Kewell's stock price increasing by 9.28% to 42.40, and a trading volume of 54,600 shares, amounting to a transaction value of 234 million [1]. - Other notable performers included Haibo Sichuang, which rose by 5.51% to 287.60, and Yingkerui, which increased by 5.24% to 18.26 [1]. Group 2: Capital Flow - The other power equipment sector experienced a net outflow of 374 million from institutional investors, while retail investors saw a net inflow of 405 million [2]. - The capital flow data indicates that stocks like Tonghe Technology had a net inflow of 80.39 million from institutional investors, while ST Huaxi experienced a net inflow of 41.76 million [3].

Market Overview - The other power equipment sector experienced a decline of 6.11% on October 17, with Shenghong Co. 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 movements included: - Tonghe Technology (300491) rose by 9.00% to a closing price of 33.20, with a trading volume of 441,800 shares and a transaction value of 1.492 billion [1] - Shenghong Co. (300693) fell by 12.95% to a closing price of 37.56, with a trading volume of 352,300 shares [2] - Other significant declines included Zhongheng Electric (002364) and Keda Technology (002518), both dropping by 9.99% [2] Capital Flow - The other power equipment sector saw a net outflow of 2.822 billion in main funds, while retail investors contributed a net inflow of 2.532 billion [2] - The capital flow for individual stocks showed: - Tonghe Technology had a main fund net inflow of 26.96 million, while retail investors contributed 27.63 million [3] - Shenghong Co. experienced a main fund net outflow of 13.82 million [3]

Group 1 - The company is currently in the research and development phase for its new materials due to funding and other constraints [2] - There are no production lines established yet for the new materials [2] - The inquiry was made by an investor on an interactive platform regarding the progress of the new materials [2]

Core Viewpoint - ST Huaxi's nuclear power business primarily involves conventional nuclear power equipment and supporting products, and does not engage in nuclear fusion [1] Group 1 - The company clarified its focus on conventional nuclear power equipment [1] - The company does not participate in nuclear fusion activities [1]

Core Viewpoint - ST Huaxi's nuclear power business primarily involves conventional nuclear power equipment and supporting products, and does not engage in nuclear fusion [1] Summary by Category - **Company Overview** - ST Huaxi focuses on conventional nuclear power equipment and related products [1] - **Business Scope** - The company explicitly states that its operations do not include nuclear fusion [1]