Core Insights - Mona Lisa reported a third-quarter revenue of 1.062 billion yuan, a year-on-year decrease of 14.20% [1] - The net profit for the third quarter was 86.1724 million yuan, showing a year-on-year increase of 48.79% [1] - For the first three quarters, the total revenue was 2.977 billion yuan, reflecting a year-on-year decline of 16.66% [1] - The net profit for the first three quarters was 80.5042 million yuan, which represents a year-on-year decrease of 42.71% [1]

| 证券代码：002918 | 证券简称：蒙娜丽莎 | 公告编号：2025-072 | | --- | --- | --- | | 债券代码：127044 | 债券简称：蒙娜转债 | | 蒙娜丽莎集团股份有限公司 经与会董事审议，以记名投票表决方式审议通过了以下议案： 1、审议通过了《关于 2025 年第三季度报告的议案》 《2025 年第三季度报告》详见 2025 年 10 月 25 日公司在信息披露媒体《证券时报》 和巨潮资讯网（www.cninfo.com.cn）披露的公告。 表决结果：同意 11 票，反对 0 票，弃权 0 票。 本议案已经公司董事会审计委员会审议通过。 三、备查文件 第四届董事会第十六次会议决议公告 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。 一、董事会会议召开情况 蒙娜丽莎集团股份有限公司（以下简称"公司"）第四届董事会第十六次会议于 2025 年 10 月 24 日在公司办公楼会议室以现场方式召开，会议通知已于 2025 年 10 月 21 日通 过专人送达、传真、电子邮件、电话等方式发出。本次会议由董事长萧礼标先生主持，应 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥1,061,884,596.85, a decrease of 14.20% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2025 was ¥86,172,381.72, an increase of 48.79% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥83,717,834.65, up 56.22% from the previous year[5]. - The basic earnings per share for Q3 2025 was ¥0.21, representing a 50.00% increase compared to the same period last year[5]. - Net profit for the period was ¥94,210,043.29, down from ¥142,353,096.88, reflecting a decline of approximately 33.8% year-over-year[22]. - The net profit attributable to shareholders of the parent company was ¥80,504,214.59, compared to ¥140,518,458.80, a decrease of around 42.7% year-over-year[22]. - Total comprehensive income amounted to ¥94,210,043.29, a decrease from ¥142,353,096.88 in the previous period[23]. - Basic and diluted earnings per share were both ¥0.20, down from ¥0.34 year-over-year[23]. Assets and Liabilities - The total assets at the end of the reporting period were ¥7,398,142,392.05, a decrease of 4.05% from the end of the previous year[5]. - The company's total current assets amount to ¥3,327,033,167.54, a decrease from ¥3,426,784,261.17 at the beginning of the period[19]. - Total liabilities decreased to ¥3,738,979,002.92 from ¥4,054,960,634.93, a reduction of approximately 7.8%[20]. - Non-current liabilities decreased to ¥1,076,683,973.65 from ¥1,260,198,788.98, a decline of about 14.5%[20]. - Current liabilities totaled ¥2,662,295,029.27, down from ¥2,794,761,845.95, indicating a decrease of approximately 4.7%[20]. - The company's total equity increased slightly to ¥3,659,163,389.13 from ¥3,655,270,907.45, showing a marginal growth of about 0.1%[20]. - The company's total liabilities decreased by 4.05% compared to the previous year-end, reflecting improved financial stability[5]. Cash Flow - The cash flow from operating activities for the year-to-date was ¥365,421,045.25, down 29.09% year-on-year[5]. - Net cash flow from operating activities was ¥365,421,045.25, a decline of 29% compared to ¥515,363,859.89 in the prior period[24]. - Cash inflow from operating activities totaled ¥3,624,706,166.66, down 19% from ¥4,495,370,083.97[24]. - Cash outflow from operating activities was ¥3,259,285,121.41, a decrease from ¥3,980,006,224.08[24]. - Net cash flow from investing activities was -¥23,607,484.64, an improvement from -¥59,350,368.21 in the previous period[24]. - Cash inflow from financing activities was ¥519,500,000.00, down from ¥606,600,000.00 year-over-year[24]. - Net cash flow from financing activities was -¥132,059,199.14, compared to -¥1,321,716,880.49 in the prior period[24]. - The ending balance of cash and cash equivalents increased to ¥1,542,989,166.16 from ¥1,134,688,229.88[24]. - Cash and cash equivalents increased to ¥1,662,383,509.59 from ¥1,509,608,004.59[18]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 15,822[16]. - The largest shareholder, Xiao Hua, holds 30.60% of shares, totaling 125,080,560 shares[16]. - The top 10 shareholders collectively hold 63.74% of the company's shares, indicating significant ownership concentration[17]. - The total number of preferred shareholders at the end of the reporting period is not applicable[18]. Operational Costs and Expenses - Total operating revenue decreased to ¥2,977,020,937.30 from ¥3,572,173,750.32, representing a decline of approximately 16.6% year-over-year[21]. - Total operating costs reduced to ¥2,829,908,405.53 from ¥3,387,159,287.65, a decrease of about 16.4% year-over-year[21]. - Research and development expenses were ¥109,469,885.66, down from ¥136,079,863.09, a decrease of approximately 19.5% year-over-year[22]. - The company reported a financial expense of ¥34,954,444.73, down from ¥59,345,969.42, reflecting a decrease of about 41.2% year-over-year[22]. - The company reported a significant decrease in financial expenses by 41.10% due to reduced interest expenses[12]. Inventory and Goodwill - Inventory decreased to ¥891,371,203.85 from ¥1,003,528,336.03, indicating a reduction of approximately 11.2%[19]. - The company has a goodwill of ¥8,123,257.36, unchanged from the previous period[19]. Audit Status - The third quarter financial report was not audited[25].

Investment Rating - The industry rating is "Outperform the Market" (maintained rating) [5] Core Insights - Infrastructure investment showed weakness in September, but the fourth quarter may benefit from increased funding and policy catalysts. The report highlights the importance of infrastructure as a stabilizing measure for the economy, with a focus on undervalued, high-dividend construction stocks [1][2] - The real estate sector saw a decline in sales area by 5.5% year-on-year from January to September, with a significant drop of 21.3% in September alone. However, the completion rate for real estate projects turned positive for the first time since 2024, indicating a potential recovery [2] - Cement demand is gradually weakening, with a production drop of 5.2% year-on-year from January to September. The report suggests that cement companies may seek to optimize supply and increase prices to recover profitability [3] - The flat glass market showed signs of improvement in September, with a slight increase in demand. However, overall production still declined by 5.2% year-on-year, and inventory levels have risen significantly [4] Summary by Sections Infrastructure Investment - Infrastructure investment from January to September showed a year-on-year increase of 1.1%, but September alone saw a decline of 4.7%. The report anticipates a recovery in the fourth quarter due to early fiscal funding and new policy financial tools [1][2] Real Estate Sector - Real estate sales area decreased by 5.5% year-on-year from January to September, with a notable drop of 11.9% in September. New construction area fell by 18.9% year-on-year, while completion area saw a slight increase in September, marking the first positive growth since 2024 [2] Cement Industry - Cement production from January to September was 1.259 billion tons, down 5.2% year-on-year. The average shipment rate was 41.3%, a decrease of 2.6 percentage points year-on-year. The report indicates that cement companies are likely to push for price increases to enhance profitability [3] Glass Industry - Flat glass production from January to September was 72.881 million weight cases, down 5.2% year-on-year. The report notes a slight improvement in demand in September, but overall inventory levels have increased significantly, indicating potential challenges ahead [4]

Core Points - The Louvre Museum in Paris was temporarily closed on October 19, 2023, following a robbery incident that occurred in the morning, where several masked suspects stole multiple valuable items, including eight pieces of jewelry from the Napoleonic era [1][2] Summary by Sections Incident Details - The robbery involved masked suspects who entered the museum from a construction area along the Seine River, using an elevator to access the Apollo Gallery, where they broke glass and stole items [1] - The stolen items included eight pieces of jewelry, such as necklaces, brooches, and earrings, with one crown belonging to Empress Eugénie found abandoned outside the museum [1][3] Security Concerns - The security measures at the Louvre, which receives millions of visitors annually, have come under scrutiny, especially regarding the effectiveness of the alarm system during the incident [1] - The prosecutor indicated that while the alarm system was operational, there are doubts about whether security personnel heard the alarm and if it sounded in the exhibition hall where the robbery occurred [1] Staff and Visitor Issues - There have been complaints from museum staff regarding the high volume of visitors and insufficient security personnel, which has raised concerns about safety [2] - In June, museum employees held a strike due to the overwhelming number of visitors and inadequate staffing, highlighting the potential risks associated with the museum's operations [2]

Core Points - The Louvre Museum in Paris experienced a rare daylight robbery on October 19, raising questions about its security measures [1][4] - The robbery involved four masked individuals who used a lift to access the museum and stole nine priceless artifacts, with a significant portion still missing [2][4] - The incident has prompted discussions about the adequacy of security protocols at one of the world's most visited museums [4][7] Group 1: Incident Details - The robbery occurred around 9:30 AM, just 30 minutes after the museum opened, and was only 250 meters from the famous painting, the Mona Lisa [2] - The entire operation lasted approximately 7 minutes, during which the robbers threatened security personnel with a power tool [2] - Among the stolen items are royal crowns and jewelry associated with historical figures, with one crown already recovered [2] Group 2: Security Concerns - The Louvre has a history of thefts, with the most notable being the disappearance of the Mona Lisa in 1911 [4] - Despite having a functioning alarm system, there are doubts about whether security personnel were alerted during the robbery [4] - Staff complaints about understaffing and high visitor numbers have previously raised concerns about security effectiveness [4][7] Group 3: Response and Criticism - The French Interior Minister stated that security measures at the Louvre have been enhanced in recent years, including new surveillance systems [7] - Critics argue that these improvements are insufficient and have come too late, highlighting vulnerabilities in the museum's security [7]

Core Viewpoint - Mona Lisa's stock has experienced significant fluctuations, with a year-to-date increase of 59.03%, but a recent decline of 2.02% on October 20, 2023, indicating volatility in investor sentiment [1]. Group 1: Stock Performance - As of October 20, 2023, Mona Lisa's stock price was 16.48 yuan per share, with a market capitalization of 6.737 billion yuan [1]. - The stock has seen a 2.54% decline over the last five trading days, a 22.71% increase over the last 20 days, and a 90.52% increase over the last 60 days [1]. - The company has appeared on the "龙虎榜" (a stock trading list) once this year, with the last occurrence on January 13 [1]. Group 2: Financial Performance - For the first half of 2025, Mona Lisa reported a revenue of 1.915 billion yuan, a year-on-year decrease of 17.96%, and a net profit attributable to shareholders of -5.6682 million yuan, a decrease of 106.86% [2]. - Cumulative cash dividends since the company's A-share listing amount to 817 million yuan, with 266 million yuan distributed over the past three years [3]. Group 3: Shareholder Information - As of June 30, 2025, the number of shareholders decreased by 17.10% to 27,200, while the average number of circulating shares per person increased by 20.62% to 8,076 shares [2]. - Among the top ten circulating shareholders, ICBC Strategic Transformation Stock A holds 5.7978 million shares, unchanged from the previous period, while Hong Kong Central Clearing Limited has exited the top ten list [3]. Group 4: Business Overview - Mona Lisa Group Co., Ltd. specializes in the research, production, and sales of high-quality building ceramic products, with a revenue composition of 81.58% from glazed porcelain tiles, 12.00% from ceramic panels, and smaller contributions from other products [1]. - The company is classified under the light industry manufacturing sector, specifically in home goods and tile flooring, and is associated with concepts such as smart home, Baidu concept, custom home, and small-cap stocks [1].

Market Overview - On October 17, the home goods sector declined by 1.52%, with Yuma Technology 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 gainers included: - Mengbaihe (603313) with a closing price of 9.33, up 10.02% on a trading volume of 269,100 shares and a turnover of 246 million yuan [1] - Longzhu Technology (920445) closed at 11.97, up 9.02% with a trading volume of 84,800 shares and a turnover of 104 million yuan [1] - Significant losers included: - Yuma Technology (300993) closed at 18.24, down 6.46% with a trading volume of 178,300 shares and a turnover of 332 million yuan [2] - Qisheng Technology (603610) closed at 16.84, down 6.18% with a trading volume of 128,300 shares [2] Capital Flow - The home goods sector experienced a net outflow of 248 million yuan from institutional investors, while retail investors saw a net inflow of 255 million yuan [2] - The capital flow for key stocks showed: - Mengbaihe had a net inflow of 84.29 million yuan from institutional investors, but a net outflow of 43.88 million yuan from retail investors [3] - Delu Future (002631) had a net inflow of 29.35 million yuan from institutional investors, with a net outflow of 26.12 million yuan from retail investors [3]

Core Points - Mona Lisa has completed the registration capital change and related procedures, receiving a new business license from the Foshan Market Supervision Administration [1] - The registered capital is now 408,886,629 RMB [1]

| 证券代码：002918 | 证券简称：蒙娜丽莎 | 公告编号：2025-071 | | --- | --- | --- | | 债券代码：127044 | 债券简称：蒙娜转债 | | 蒙娜丽莎集团股份有限公司 关于完成变更登记并换发营业执照的公告 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。 蒙娜丽莎集团股份有限公司（以下简称"公司"）于 2025 年 7 月 29 日召开第四届董 事会第十三次会议，并于 2025 年 8 月 15 日召开 2025 年第一次临时股东大会，分别审议 通过了《关于变更注册资本并修订<公司章程>的议案》《关于增加公司第四届董事会人数 暨补选独立董事的议案》。具体内容详见公司分别于 2025 年 7 月 30 日、2025 年 8 月 16 日在信息披露媒体巨潮资讯网（www.cninfo.com.cn）披露的《关于变更注册资本并修订< 公司章程>及相关治理制度的公告》《2025 年第一次临时股东大会决议公告》。 近日，公司完成了注册资本变更、董事及章程备案等相关手续，并领取了由佛山市市 场监督管理局核发的营业执照，相关登记信 ...