Group 1 - On November 21, Yingqu Technology executed a block trade of 140,000 shares, with a transaction amount of 2.52 million yuan, accounting for 0.44% of the total transaction volume for the day [1] - The transaction price was 18 yuan, which represents a discount of 4.46% compared to the market closing price of 18.84 yuan [1] - The buyer was Dongfang Caifu Securities Co., Ltd., while the seller was Zhongtai Securities Co., Ltd. [2]

证券代码：002925 证券简称：盈趣科技 公告编号：2025-110 厦门盈趣科技股份有限公司 关于公司控股股东部分股份质押展期的公告 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。 厦门盈趣科技股份有限公司（以下简称"公司"）近日接到控股股东深圳万 利达电子工业有限公司（以下简称"万利达工业"）通知，获悉万利达工业所持 有本公司的部分股份办理了质押展期业务，具体事项如下： 一、控股股东股份质押展期的基本情况 注：截至 2025 年 11 月 19 日，公司总股本为 777,441,784 股。 2、控股股东及其一致行动人股份累计质押情况 万利达工业与厦门赢得未来创业投资合伙企业（有限合伙）（以下简称"赢 得未来投资"）、吴凯庭先生、王琳艳女士、吴雪平女士、吴雪芬女士为一致行动 人。截至本公告披露日，万利达工业及其一致行动人所持股份质押情况如下： 单位：股 | 股东名称 | 持股数量 | 持股 | 本次质押展 | 本次质押展 | 占其 | 占公 | 已质押股份情况 | 未质押股份情况 | | --- | --- | --- | --- | --- | --- ...

Group 1 - The core point of the news is that Yingqu Technology's stock price increased by 5.04%, reaching 19.19 CNY per share, with a total market capitalization of 14.919 billion CNY [1] - Yingqu Technology, established on May 24, 2011, and listed on January 15, 2018, is based in Xiamen, Fujian Province, and specializes in the R&D and production of smart control components and innovative consumer electronics [1] - The revenue composition of Yingqu Technology includes innovative consumer electronics at 37.12%, smart control components at 27.20%, automotive electronics at 16.44%, other products at 10.41%, health and environmental products at 4.68%, and technology R&D services at 4.15% [1] Group 2 - From the perspective of major fund holdings, Morgan Fund has a significant position in Yingqu Technology, with the Morgan Dynamic Multi-Factor Mixed A Fund holding 47,600 shares, accounting for 0.94% of the fund's net value [2] - The Morgan Dynamic Multi-Factor Mixed A Fund has achieved a year-to-date return of 25.47%, ranking 3216 out of 8136 in its category, and a one-year return of 24.89%, ranking 3083 out of 8055 [2] - The fund manager, Hu Di, has been in charge for nearly 5 years, with the fund's total asset size at 18.457 billion CNY and a best return of 70.61% during his tenure [3]

厦门盈趣科技股份有限公司（以下简称"公司"）近日接到控股股东深圳万 利达电子工业有限公司（以下简称"万利达工业"）通知，获悉万利达工业所持 有本公司的部分股份办理了解除质押业务，具体事项如下： 一、控股股东股份解除质押的基本情况 证券代码：002925 证券简称：盈趣科技 公告编号：2025-109 厦门盈趣科技股份有限公司 关于公司控股股东部分股份解除质押的公告 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。 1、控股股东本次股份解除质押基本情况 | | 是否为控股股东 或第一大股东及 | 本次解除 质押股份 | 占其所 持股份 | 占公司 总股本 | 质押 | 解除 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 股东名称 | | | | | 起始日 | 质押日 | 质权人 | | | 其一致行动人 | 数量（股） | 比例 | 比例 | | | | | 万利达工业 | 是 | 26,930,000 | 6.93% | 3.46% | 2022/11/8 | 2025/11/5 | 五矿证券有 ...

Core Viewpoint - The company, Yingqu Technology (002925), is actively engaging with various institutional investors and is focused on maintaining a high level of R&D investment to sustain its competitive edge in key areas such as precision temperature control and new material development [1][2]. Group 1: Financial Performance - In Q3 2025, the company reported a revenue of 10.62 billion yuan, a year-on-year increase of 10.2%, and a net profit of 4011.84 million yuan, up 10.46% year-on-year [7]. - For the first three quarters of 2025, the company achieved a total revenue of 28.82 billion yuan, reflecting a 13.51% increase compared to the previous year, with a net profit of 1.78 billion yuan, up 3.52% year-on-year [7]. - The company's gross profit margin stood at 27.11% in Q3 2025, with a debt ratio of 34.57% [7]. Group 2: R&D and Product Development - The company plans to maintain a high R&D expense ratio to ensure competitive advantages, particularly in critical fields such as precision control and biodegradable materials [2]. - The company is focusing on enhancing its automotive electronics segment by deepening technical barriers for star products and expanding its global footprint, particularly in North America and Europe [3]. Group 3: Market Outlook and Strategic Initiatives - The health environment business has seen rapid growth in Q3 2025 due to successful collaborations with key clients, and the company is looking to expand its product lines beyond air purifiers [4]. - The E-bike product line experienced a slight revenue decline in Q3 2025 but is expected to perform better in 2026 due to improving market conditions and ongoing strategic partnerships [6]. Group 4: Analyst Ratings and Forecasts - Over the past 90 days, six institutions have rated the stock as a buy, with an average target price of 21.86 yuan [8]. - Profit forecasts for 2025 to 2027 indicate a projected net profit of 2.96 billion yuan in 2025, increasing to 5.37 billion yuan by 2027 [8].

Summary of Earnings Conference Call for Yingqu Technology Company Overview - **Company**: Yingqu Technology - **Industry**: Automotive Electronics, Health Environment, and Smart Manufacturing Key Financial Metrics - **Q3 Net Profit**: Increased by 10.46% YoY to 40.12 million yuan [2][3] - **Net Profit for First Three Quarters**: Increased by 3.52% YoY to 178 million yuan [2][3] - **Gross Margin**: Decreased by approximately 1% YoY to 25.6% due to product mix changes and higher overseas production costs [3] Business Performance - **Automotive Electronics**: Grew by 17.45% YoY, accounting for approximately 18% of total revenue [3][13] - **Health Environment**: Grew by 50% YoY, with expectations for significant growth by 2026 [3][10] - **Carving Machine**: Grew by 55% YoY, driven by increased market demand and improved production capacity [3][9] - **E-cigarette Business**: Declined by 50% YoY due to the transition from old to new models, expected to stabilize by 2026 [2][5] - **Water Cooling Business**: Customer base decreased by approximately 40%, leading to an overall decline of about 20% [2][3] Strategic Initiatives - **International Expansion**: Overseas production accounts for 30%-40% of total output, with lower profit margins compared to domestic operations [4][18] - **Smart Manufacturing Bases**: Established in Shanghai and Mexico to enhance production efficiency and cost control [10][17] - **Collaboration with Bosch**: Ongoing partnership with Bosch, with a 9% decline in Q3 revenue but a 5% increase over the first three quarters [14] Future Outlook - **E-cigarette Business**: Anticipated recovery post-model transition, with new projects expected to enhance performance [5] - **Health Environment Sector**: Expected significant growth in 2026 as production ramps up [9][10] - **Automotive Electronics**: Optimistic outlook due to rising demand for smart and electronic features in new energy vehicles [10] - **Cost Management**: Anticipated increase in total expenses in 2026, but overall expense ratio relative to revenue expected to decline [19] Challenges and Risks - **Gross Margin Pressure**: Experienced due to customer price reductions in automotive electronics [11] - **Client Strategy Adjustments**: Impacting orders in the smart control components business [12] Additional Insights - **Stock Incentive Plan**: Difficulty in meeting targets this year, with unachieved portions postponed to 2026 [7][8] - **Brain-Computer Interface Development**: Significant growth in sales of brain-computer interface products, with ongoing R&D collaborations [16] This summary encapsulates the key points from the earnings conference call, highlighting the company's performance, strategic initiatives, future outlook, and challenges faced in the current market environment.

Group 1 - The core viewpoint of the article highlights that Yingqu Technology (SZ 002925) will hold an investor meeting on November 3, 2025, where the company's president Yang Ming will participate and address investor inquiries [1] - For the first half of 2025, Yingqu Technology's revenue composition shows that the electronic manufacturing sector accounts for 95.85%, while technology research and development services make up 4.15% [1] - As of the report, Yingqu Technology has a market capitalization of 15.1 billion yuan [1] Group 2 - The article mentions a significant increase in overseas orders for a certain industry, with a surge of 246%, covering over 50 countries and regions [1] - Entrepreneurs have raised concerns about some companies selling products at a loss, warning of the potential for vicious competition extending into overseas markets [1]

Group 1: Financial Performance - The company's Q3 2025 profit growth was below expectations due to changes in product structure, higher overseas production costs, and increased R&D, sales, and share-based payment expenses [3] - The overall R&D expense ratio is expected to slightly decrease next year as revenue grows, while maintaining a high level of investment to sustain competitive advantages [1] Group 2: Automotive Electronics - The automotive electronics sector is facing intensified competition, impacting profitability; the company is enhancing its market competitiveness through technical barriers and product innovation [2] - New products like the electric flip screen have been adopted by multiple automotive clients, and the company is expanding its global footprint, particularly in North America and Europe [2] Group 3: Health Environment Business - The health environment business experienced rapid growth in Q3 2025, driven by successful mass production of key projects; the company is deepening collaborations and expanding product lines [2] - The company is optimistic about the future development of the health environment sector [2] Group 4: E-bike Products - E-bike product revenue saw a slight decline in Q3, but overall, it has shown year-on-year growth; the long-term outlook remains positive due to market trends favoring eco-friendly products [3] - The company has achieved recognition as one of the top suppliers globally, receiving the "2023/2024 Global Supplier Award" from a major client, which enhances its competitive position [4]

证券代码：002925 证券简称：盈趣科技 公告编号：2025-108 厦门盈趣科技股份有限公司 关于回购公司股份的进展公告 2024 年 10 月 19 日，公司披露了《关于调整回购股份价格上限的公告》（公 告编号：2024-082），2024 年中期权益分派方案实施后，公司回购股份价格上限 由 17.00 元/股（含）调整为 16.87 元/股（含）。 2025 年 1 月 24 日，公司披露了《关于取得金融机构股票回购贷款承诺函的 公告》（公告编号：2025-006），经董事会审议，回购资金增加自筹资金。公司 已取得中国银行股份有限公司厦门市分行的贷款承诺函，承诺贷款金额不超过人 民币 11,000 万元，贷款期限 3 年，该贷款专项用于回购公司股票。 2025 年 6 月 26 日，公司披露了《关于调整回购股份价格上限的公告》（公 告编号：2025-066），2024 年年度权益分派方案实施后，公司回购股份价格上限 由 16.87 元/股（含）调整为 16.58 元/股（含）。 2025 年 9 月 8 日，公司召开第五届董事会第二十次会议，审议通过了《关 于调整回购股份价格上限并延长实施期限的议案》 ...

厦门盈趣科技股份有限公司 关于公司控股股东部分股份质押的公告 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。 厦门盈趣科技股份有限公司（以下简称"公司"）近日接到控股股东深圳万 利达电子工业有限公司（以下简称"万利达工业"）通知，获悉万利达工业所持 有本公司的部分股份办理了质押业务，具体事项如下： 一、控股股东股份质押的基本情况 证券代码：002925 证券简称：盈趣科技 公告编号：2025-107 | 股东 | | 是否为控股 股东或第一 | 本次质押 | 占其 所持 | 占总 股本 | 是否 为限 | 是否 为补 | 质押 | 质押 | 质权人 | 质押 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | | 大股东及其 | 数量（股） | 股份 | 比例 | 售股 | 充质 | 起始日 | 到期日 | | 用途 | | | | 一致行动人 | | 比例 | | | 押 | | | | | | 万利达 工业 | 是 | | 10,432,000 ...