Core Viewpoint - Hengmingda reported a decline in revenue for Q3 2025, while net profit showed significant growth year-on-year [1] Financial Performance - In Q3 2025, the company achieved revenue of 718 million yuan, a year-on-year decrease of 5.22% [1] - The net profit attributable to shareholders was 174 million yuan, reflecting an 18.12% increase compared to the previous year [1] - Basic earnings per share for Q3 2025 stood at 0.69 yuan [1] Year-to-Date Performance - For the first three quarters of 2025, the company reported total revenue of 1.963 billion yuan, representing a year-on-year growth of 15.51% [1] - The net profit attributable to shareholders for the first three quarters was 408 million yuan, which is a 31.24% increase year-on-year [1] - Basic earnings per share for the first three quarters were 1.61 yuan [1]

Revenue and Profitability - Q3 2025 revenue was CNY 718,106,659.52, a decrease of 5.22% year-over-year, while year-to-date revenue reached CNY 1,962,558,240.53, an increase of 15.51%[5] - Net profit attributable to shareholders for Q3 2025 was CNY 173,579,907.21, up 18.12% year-over-year, and year-to-date net profit was CNY 407,904,010.23, an increase of 31.24%[5] - Basic earnings per share for Q3 2025 was CNY 0.69, reflecting a 15.00% increase year-over-year, with diluted earnings per share also at CNY 0.69[5] - The net profit margin for the year-to-date period improved to 20.77%, indicating a positive trend in profitability[5] - Total operating revenue for the current period reached ¥1,962,558,240.53, an increase of 15.5% compared to ¥1,699,069,780.31 in the previous period[20] - Net profit for the current period was ¥409,317,335.28, representing a 31.1% increase from ¥311,979,157.83 in the previous period[21] - Earnings per share (EPS) for the current period was ¥1.61, compared to ¥1.33 in the previous period, reflecting a growth of 21.1%[22] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was CNY 703,998,135.21, a significant increase of 143.43%[5] - The net cash flow from operating activities was $703.99 million, an increase from $289.20 million[24] - Cash inflow from operating activities totaled ¥2,145,871,389.27, an increase of 24.0% from ¥1,732,322,403.01 in the prior period[23] - Cash outflow from operating activities was ¥1,441,873,254.06, slightly decreased from ¥1,443,124,990.80 in the previous period[23] - The total cash and cash equivalents at the end of the period reached $1.40 billion, compared to $955.91 million at the end of the previous period[24] - The company reported a cash inflow from borrowing of $154.72 million, up from $15.04 million last year[24] - The cash outflow for dividend distribution and interest payments was $150.45 million, compared to $114.81 million in the previous year[24] - The impact of exchange rate changes on cash and cash equivalents was a decrease of $4.06 million[24] Assets and Liabilities - Total assets at the end of Q3 2025 were CNY 4,291,468,344.07, an increase of 8.41% compared to the end of the previous year[5] - The total assets of the company reached RMB 4,291,468,344.07, up from RMB 3,958,683,616.29, indicating a growth of approximately 8.4%[17] - Total current assets increased to RMB 3,543,770,795.20 from RMB 3,214,997,695.14, reflecting a growth of approximately 10.2%[17] - The total liabilities increased to RMB 946,320,529.81 from RMB 708,939,227.26, representing a rise of about 33.5%[17] - The total liabilities increased to ¥1,017,719,041.65 from ¥788,449,689.97, marking a rise of 29.1%[18] - Total equity attributable to shareholders of the parent company rose to ¥3,261,416,589.29, up from ¥3,159,314,538.24, an increase of 3.2%[18] Operational Performance - The company's cash and cash equivalents increased by 132.84% to CNY 1,398,849,849.47 due to the recovery of accounts receivable[10] - Inventory increased by 44.33% to CNY 389,418,576.21, attributed to a rise in sales orders[10] - Short-term borrowings rose by 192.13% to CNY 149,803,286.94, reflecting an increase in borrowing during the period[10] - The company reported a significant increase in other income, which rose by 117.13% to CNY 7,861,878.25, mainly due to changes in government subsidies[10] - The company has added a new implementation site for its smart manufacturing base project in Huizhou[15] - The company has not reported any changes in the participation of major shareholders in margin financing and securities lending activities[12] Financial Expenses - The company reported a financial expense of -¥6,530,758.69, compared to -¥2,634,183.55 in the previous period, indicating a worsening in financial costs[21]

Group 1 - The core transaction involved 102,500 shares of Hengmingda, with a total transaction value of 4.2486 million yuan, representing 1.25% of the total trading volume for the day [1][2] - The transaction price was 41.45 yuan per share, which is an 8.05% discount compared to the market closing price of 45.08 yuan [1][2] - The buyer was Guosen Securities Co., Ltd., and the seller was China Galaxy Securities Co., Ltd. [2]

Group 1 - The core point of the article is that Hengmingda (SZ 002947) announced a share repurchase plan during its board meeting on October 15, 2025, and disclosed its top ten unrestricted shareholders [1] - The top ten unrestricted shareholders collectively hold approximately 71.71 million shares, accounting for 27.99% of the total shares [1] - The company's revenue composition for the first half of 2025 shows that manufacturing accounts for 98.54% of total revenue, while other businesses contribute 1.46% [1] Group 2 - As of the report, Hengmingda's market capitalization is 10.7 billion yuan [2]

一、 前十大股东持有情况 证券代码：002947 证券简称：恒铭达 公告编号：2025-067 苏州恒铭达电子科技股份有限公司 关于回购股份事项前十大股东和前十大无限售条件股东持股情况的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导性陈述 或者重大遗漏。 苏州恒铭达电子科技股份有限公司（以下简称"公司"）于 2025 年 10 月 15 日召开的第三届 董事会第二十五次会议审议通过了《关于回购公司股份方案的议案》，具体内容详见公司 2025 年 10 月 16 日于指定媒体披露的《关于回购公司股份方案暨取得回购专项贷款承诺函的公告》。根据 《深圳证券交易所上市公司自律监管指引第 9 号——回购股份》相关规定，现将董事会公告回购股 份决议的前一个交易日（2025 年 10 月 15 日）登记在册的前十大股东和前十大无限售条件股东的 名称及持股数量、比例公告如下： | 序号 | 股东名称 | 持股数量 （股） | 占总股本比例 | | --- | --- | --- | --- | | | | | （%） | | 1 | 荆世平 | 60,214,201 | 23.50 | | 2 ...

Group 1 - Dingjide's subsidiary has successfully launched the industrial production of POE materials, achieving stable production of qualified products [1] - Xinhua Insurance reported a 19% year-on-year increase in original insurance premium income for the first three quarters, totaling 172.705 billion yuan [1] - Chunfeng Power achieved a 30.89% year-on-year increase in net profit for the first three quarters, with total revenue reaching 14.15 billion yuan [1][2] Group 2 - Guangsheng Nonferrous expects a net profit of 100 million to 130 million yuan for the first three quarters, marking a turnaround from losses [1] - Aobi Zhongguang anticipates a net profit of approximately 108 million yuan for the first three quarters, with revenue growth of 103.5% [1] - Guobang Pharmaceutical reported a 15.78% year-on-year increase in net profit for the first three quarters, totaling 6.7 billion yuan [1] Group 3 - Zhujiang Co. manages 428 projects with a signed construction area of approximately 50.9853 million square meters as of September 2025 [1] - Kecuan Technology has terminated its application for issuing convertible bonds, considering its development plan and actual situation [1] - Guoxin Securities has received approval to register 15 billion yuan in short-term corporate bonds [1] Group 4 - Aihua Pharmaceutical's clinical trial for a pediatric cough syrup has been approved by the National Medical Products Administration [1] - Xinjiang Jiaojian signed new construction contracts worth 1.413 billion yuan in the third quarter [1] - Sichuan Shuangma's subsidiary has received approval for the listing of a raw material drug used in treating various diseases [1] Group 5 - Gansu Energy's 1,000 MW coal-fired unit has officially commenced commercial operation [1] - Zhejiang Energy reported a 4.68% year-on-year increase in power generation for the first three quarters, totaling 135.234 billion kWh [1] - Tiandi Source's contract sales amount for the first nine months decreased by 16.18% to 3.085 billion yuan [1] Group 6 - Biological Shares' subsidiary has obtained a new veterinary drug registration certificate for a vaccine [1] - Jintong Co. reported a 4.03% year-on-year increase in net profit for the first three quarters, totaling 2.283 billion yuan [1] - Rihua Technology plans to invest 800 million yuan in a new project for industrial ray detection equipment [1] Group 7 - Zhongtian Technology has won multiple marine project bids totaling approximately 1.788 billion yuan [1] - Qingsong Co. has completed the disposal of a 148-acre industrial park project, transferring it for 163 million yuan [1] - Tongyuan Petroleum has successfully bid for a $126 million oil and gas service project in Algeria [1] Group 8 - Hengmingda's chairman proposed a share buyback plan of 200 million to 400 million yuan [1] - Deyi Cultural plans to reduce its holdings by up to 1% of the company's shares [1] - Feirongda's major shareholder plans to reduce its holdings by up to 2.36% of the company's shares [1] Group 9 - Mankun Technology plans to issue convertible bonds to raise no more than 760 million yuan for high-end PCB production and digital upgrades [1] - Sanlian Forging's shareholder plans to reduce its holdings by up to 3% of the company's shares [1] - Huagong Technology intends to jointly establish a venture capital fund with a target size of 500 million yuan [1] Group 10 - Shida Shenghua expects a net loss of 49 million to 75 million yuan for the first three quarters [1] - Huichuangda's major shareholder plans to reduce its holdings by up to 0.65% of the company's shares [1] - Yuxin Electronics reported a 60.21% year-on-year increase in net profit for the first three quarters, totaling 73.3941 million yuan [1] Group 11 - Yiwei Communication expects a 50% to 55% decline in net profit for the first three quarters [1] - Lio Co. plans to reduce its repurchased shares by up to 135 million shares [1] - Sichuan Shuangma's subsidiary has received approval for a new drug registration [1]

Group 1 - The company Hengmingda (002947) announced a share repurchase plan, intending to buy back shares worth between 200 million to 400 million yuan [1] - The maximum repurchase price is set at 67.12 yuan per share [1]

Core Insights - On October 16, 17 companies announced a total of 17 stock repurchase updates, indicating a significant activity in the market [1] Group 1: First Disclosure of Repurchase Plans - Three companies disclosed their stock repurchase plans for the first time, with proposed repurchase amounts of up to 400 million yuan, 150 million yuan, and 100 million yuan respectively for Hengmingda, Qizhong Technology, and Kangchen Pharmaceutical [1] Group 2: Approval of Repurchase Plans by Shareholders - Five companies had their repurchase plans approved by shareholder meetings, with the highest proposed repurchase amounts being 150 million yuan for Fenghuo Communication, 70 million yuan for Shaanxi Jinye, and 10 million yuan for Youkede-W [1] Group 3: Progress of Implemented Repurchase Plans - Four companies reported on the progress of their repurchase plans, with the highest repurchase amounts being 37.86 million yuan for Jiuan Medical, 11.19 million yuan for Intercontinental Oil and Gas, and 3.09 million yuan for Jiansheng Group [1] Group 4: Completed Repurchase Plans - Five companies completed their repurchase plans, with the highest completed amounts being 797 million yuan for Zhongwei Co., 200 million yuan for Shuangta Food, and 7.5177 million yuan for Shapais [1]

Group 1: Company Announcements - Sanhua Intelligent Control denied rumors of receiving a large robot order [1] - Shengfang Textile A's subsidiary plans to invest in a 1.49-meter wide polarizer production line project [1] - Rongji Software's subsidiary signed a contract worth 126 million yuan for the construction of Henan Rongji Software Park [1] - Nar Holdings intends to acquire at least 51% of Shanghai Feilai Testing [1] - Hengmingda plans to repurchase shares worth 200 million to 400 million yuan [1] - Shuo Beid's net profit for the first three quarters is expected to increase by 1258.39% to 1313.24% year-on-year [1] - Huizhiwei's major fund plans to reduce holdings by no more than 4.6684 million shares [1] - Junpu Intelligent plans to raise no more than 1.161 billion yuan through a private placement [1] - Sifang Optoelectronics received a project notification from a client, with a total contract amount expected to be 59 million yuan [1] Group 2: Performance Forecasts - Saifen Technology expects a net profit increase of 65% to 80% year-on-year for the first three quarters [2] - Asia-Pacific Co. anticipates a net profit increase of 97.38% to 113.30% year-on-year for the first three quarters [2] Group 3: Shareholding Changes - Xin Hongze's controlling shareholder plans to reduce holdings by no more than 3% [2] - Ugreen Technology's management and its concerted actions plan to reduce holdings by no more than 1.5% [2] - Sanfeng Intelligent's director and his concerted actions plan to reduce holdings by no more than 2.85% [2] - Huizhiwei's major fund plans to reduce holdings by no more than 4.6684 million shares [2] Group 4: Other Fundraising Activities - Digital Zhengtong plans to raise no more than 1.05 billion yuan through a private placement [2] - Deli Co. plans to raise no more than 720 million yuan through a private placement [2] - Junpu Intelligent plans to raise no more than 1.161 billion yuan through a private placement [2] - Sifang Optoelectronics received a project notification from a client, with a total contract amount expected to be 59 million yuan [2]

Group 1 - Sanhua Intelligent Control (002050.SZ) denied rumors of receiving a large robot order [1] - Deep Textile A (000045.SZ) subsidiary plans to invest in a 1.49-meter wide polarizer production line project [1] - Rongji Software (002474.SZ) subsidiary signed a 126 million yuan contract for the construction of Henan Rongji Software Park [1] Group 2 - Nar Holdings (002825.SZ) intends to acquire at least 51% equity in Shanghai Feilai Testing [1] - Hengmingda (002947.SZ) plans to repurchase shares worth 200 million to 400 million yuan [1] - Suobede (300322.SZ) expects a net profit growth of 1258.39% to 1313.24% year-on-year for the first three quarters [1] Group 3 - New Hongze (002836.SZ) major shareholder plans to reduce holdings by no more than 3% [1] - Ugreen Technology (301606.SZ) management and its concerted parties plan to reduce holdings by no more than 1.5% [1] - Wisdom Micro (688512.SZ) major fund plans to reduce holdings by no more than 466,840 shares [1] Group 4 - Digital Zhengtong (300075.SZ) plans to raise no more than 1.05 billion yuan through a private placement [2] - Delixi Shares (002571.SZ) plans to raise no more than 720 million yuan through a private placement [2] - Junpu Intelligent (688306.SZ) plans to raise no more than 1.161 billion yuan through a private placement [2] - Sifang Optoelectronics (688665.SZ) received a project notification from a client, with a total contract amount expected to be 59 million yuan [2]