Core Viewpoint - Dongpeng Holdings reported a slight decline in revenue for Q3 2025, while net profit showed significant growth compared to the previous year [1] Financial Performance - In Q3 2025, the company achieved a revenue of 1.567 billion yuan, a year-on-year decrease of 1.41% [1] - The net profit attributable to shareholders for Q3 2025 was 130 million yuan, reflecting a year-on-year increase of 32.91% [1] - Basic earnings per share for Q3 2025 stood at 0.1147 yuan [1] - For the first three quarters of 2025, the total revenue reached 4.501 billion yuan, down 3.90% year-on-year [1] - The net profit attributable to shareholders for the first three quarters was 349 million yuan, marking a year-on-year increase of 13.09% [1] - Basic earnings per share for the first three quarters were 0.3016 yuan [1]

Core Viewpoint - Dongpeng Holdings reported a resilient performance in Q3 2025 despite the ongoing deep adjustment in the domestic ceramic tile industry, with key indicators such as revenue, net profit, and cash flow showing growth against market challenges [1][2]. Financial Performance - The company achieved a revenue of 4.501 billion yuan in the first three quarters, with a year-on-year increase of 8.03% in the large retail channel revenue [1]. - The net profit attributable to shareholders reached 349 million yuan, reflecting a year-on-year growth of 13.09% [1]. - The net cash flow from operating activities was 651 million yuan, up 33.19% year-on-year [1]. Industry Context - The domestic ceramic tile industry is experiencing a deep adjustment period, characterized by market demand pressure and intensified competition, compounded by a contraction in engineering demand due to the real estate sector's adjustments [1]. - The industry is witnessing a further differentiation pattern as companies adapt to the challenging environment [1]. Strategic Initiatives - Dongpeng Holdings is focusing on enhancing its retail channel advantages, product innovation, lean operations, and precise cost control to strengthen its operational capabilities and innovation leadership [1]. - The company has optimized its channel and product structures, with flagship tile products now accounting for 28.5% of sales, and the average transaction price increasing quarter-on-quarter [2]. - A total of 196 new stores were opened, and 224 stores were upgraded in the first three quarters, reinforcing the brand's display and service capabilities [2]. Operational Efficiency - The company is implementing a lean operation strategy across the entire value chain, resulting in reduced manufacturing costs and improved inventory and accounts receivable turnover [2]. - The sales and management expense ratio decreased by 1.54 percentage points year-on-year, indicating effective cost management [2]. - Despite intensified market competition, the company's gross margin remains stable, showcasing its operational resilience [2]. Product Development and Market Positioning - Dongpeng Holdings became the first in the industry to obtain certification for age-friendly products, targeting the silver economy market with specialized solutions for home and healthcare scenarios [2]. - The company was among the first to pass the highest level 5A certification under the new national standards for ceramic tiles, reinforcing its commitment to high standards and quality, which is crucial for driving high-quality development in the industry [2].

Core Insights - Dongpeng Holdings reported Q3 2025 revenue of 1.567 billion yuan, a year-on-year decrease of 1.41% [1] - The net profit for Q3 2025 was 130 million yuan, reflecting a year-on-year increase of 32.91% [1] - For the first three quarters of 2025, the total revenue was 4.501 billion yuan, down 3.90% year-on-year [1] - The net profit for the first three quarters was 349 million yuan, showing a year-on-year growth of 13.09% [1]

Revenue and Profit - The company's revenue for Q3 2025 was CNY 1,567,034,253.75, a decrease of 1.41% year-on-year, while the total revenue for the first three quarters reached CNY 4,500,785,616.80, down 3.90% compared to the same period last year[4] - Net profit attributable to shareholders for Q3 2025 was CNY 130,349,021.32, an increase of 32.91% year-on-year, with a total net profit of CNY 348,957,635.71 for the first three quarters, up 13.09%[4] - The company’s basic earnings per share for Q3 2025 was CNY 0.1147, reflecting a growth of 38.03% year-on-year[4] - Net profit for the current period is ¥349,097,398.74, an increase of 13.6% compared to ¥307,296,175.44 in the previous period[23] - Total comprehensive income for the period amounted to ¥349,097,398.74, compared to ¥307,296,175.44 in the previous period, representing an increase of approximately 13.6%[24] - Basic and diluted earnings per share increased to ¥0.3016 from ¥0.26, reflecting a growth of 15.4%[24] Cash Flow and Assets - The company achieved a net cash flow from operating activities of CNY 651,155,472.05 for the first three quarters, reflecting a growth of 33.19% year-on-year[7] - Net cash flow from operating activities was ¥651,155,472.05, up from ¥488,884,289.04, indicating a rise of about 33.3%[27] - Cash inflow from investment activities decreased significantly to ¥1,051,691,663.63 from ¥5,892,173,702.05, a decline of approximately 82.1%[27] - The ending balance of cash and cash equivalents was ¥1,524,879,610.30, down from ¥2,194,396,883.86, a decrease of approximately 30.5%[27] - Cash and cash equivalents decreased from RMB 3,214,862,715.91 to RMB 2,147,564,275.45, a decline of approximately 33.2%[19] - Total assets decreased to ¥11,502,313,637.85 from ¥12,006,436,364.97, a decline of 4.2%[21] - Total liabilities decreased to ¥3,880,842,221.16 from ¥4,357,477,432.70, a reduction of 10.9%[21] - Current assets totaled ¥6,078,404,594.32, down from ¥6,268,466,810.26, a decrease of 3.0%[21] - Non-current assets decreased to ¥5,423,909,043.53 from ¥5,737,969,554.71, a decline of 5.5%[21] - Long-term equity investments decreased to ¥64,314,098.06 from ¥73,828,888.31, a drop of 12.9%[21] Operational Performance - The gross profit margin remained stable despite intensified market competition, showcasing the company's operational resilience[8] - The company opened 196 new stores and upgraded 224 existing stores in the first three quarters, enhancing its retail channel capabilities[8] - The flagship product's share of total sales increased to 28.50%, with a rise in average transaction price[8] - Research and development expenses were ¥160,987,208.16, slightly down from ¥163,770,879.02, a decrease of 1.7%[23] Financial Investments and Borrowings - The company reported a significant increase of 949.07% in trading financial assets, primarily due to the purchase of wealth management products[10] - Trading financial assets increased significantly from RMB 91,625,109.36 to RMB 961,215,601.85, representing a growth of approximately 949.5%[19] - Long-term borrowings increased by 80.72% to CNY 171,680,000.00, attributed to new bank loans[10] Shareholder Information - Total number of common shareholders at the end of the reporting period is 27,847[13] - The largest shareholder, Ningbo Lijian Venture Capital Partnership, holds 30.28% of shares, totaling 350,379,778 shares[14] - The company plans to repurchase shares with a total amount not less than RMB 100 million and not exceeding RMB 200 million, with a maximum repurchase price of RMB 9.08 per share[15] - As of September 30, 2025, the company has repurchased a total of 16,229,900 shares, accounting for 1.40% of the total share capital[15] Certifications and Governance - The company became the first in the industry to obtain aging-friendly product certification, targeting the silver economy market[8] - The company received the Elderly-Friendly Product Certification for its products, marking it as the first in the industry to achieve this certification[17] - The company has adjusted its governance structure by abolishing the supervisory board and revising its articles of association[16]

本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 广东东鹏控股股份有限公司（以下简称"公司"）第五届董事会第二十次会 议于2025年10月24日下午在东鹏总部大厦2508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14日以书面或电子邮件方式发出。本次会议应出席 董事9名，实际出席董事9名，出席董事占东鹏控股全体董事人数的100%，公司高 级管理人员列席了本次会议，会议由董事长何新明先生主持。本次会议符合《公 司法》等有关法律、行政法规、部门规章、规范性文件和《公司章程》的规定， 会议合法有效。 二、董事会会议审议情况 经与会董事认真审议，以记名投票表决方式通过了以下议案： 1、审议通过了《2025年第三季度报告的议案》。 公司《2025年第三季度报告》披露于《中国证券报》《证券时报》《上海证 券报》《证券日报》和巨潮资讯网（www.cninfo.com.cn）。 证券代码：003012 证券简称：东鹏控股 公告编号:2025-080 广东东鹏控股股份有限公司 第五届董事会第二十次会议决议公告 表决结果：同意 9 票，占全 ...

Investment Rating - Industry Rating: Outperform the market (maintained rating) [4] Core Views - The construction materials sector has shown a 1.85% increase this week, underperforming the Shanghai Composite Index which rose by 3.24%, indicating a 1.4 percentage point lag [2][9] - The report highlights the significant potential for investment and consumption driven by urban renewal and underground pipeline construction, with an expected investment demand exceeding 5 trillion yuan during the 14th Five-Year Plan period [2] - The report suggests that low-valued consumer building materials, particularly pipes and coatings, are likely to benefit from these initiatives, with a recommendation to focus on leading companies in this sector [2] - The report emphasizes the importance of urban renewal, which includes the renovation of old residential areas and the establishment of safety management systems for buildings, indicating a robust demand for construction materials [2] - The report also recommends monitoring high-end electronic fabrics, African cement, and fiberglass products with price increase expectations [2] Summary by Sections Market Review - The construction materials sector has underperformed the broader market, with notable gains in sub-sectors such as other structural materials and specialized materials [9] - Key stocks that performed well include Fashilong (30.6%), Sifangda (18.3%), and Ruitai Technology (16.3%) [9] Recommended Stocks - The report recommends a focus on the following stocks: Western Cement, Huaxin Cement, Keda Manufacturing, China National Materials, Honghe Technology, China Jushi, Sankeshu, and Dongpeng Holdings [3][15]

第1笔成交价格为6.46元，成交93.20万股，成交金额602.07万元，溢价率为-11.39%，买方营业部为中信 证券华南股份有限公司佛山分公司，卖方营业部为中信证券华南股份有限公司佛山分公司。 责任编辑：小浪快报 10月24日，东鹏控股收涨1.53%，收盘价为7.29元，发生1笔大宗交易，合计成交量93.2万股，成交金额 602.07万元。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 进一步统计，近3个月内该股累计发生42笔大宗交易，合计成交金额为1.59亿元。该股近5个交易日累计 下跌4.71%，主力资金合计净流出1481.52万元。 ...

Group 1 - On October 24, Dongpeng Holdings executed a block trade of 932,000 shares, with a transaction value of 6.0207 million yuan, accounting for 6.28% of the total trading volume for the day [1] - The transaction price was 6.46 yuan, which represents an 11.39% discount compared to the market closing price of 7.29 yuan [1]

Core Points - Dongpeng Holdings (003012.SZ) experienced a stock price decline of 5.27%, closing at 7.19 yuan [1] - The company went public on October 19, 2020, with a total issuance of 14.3 million shares, representing 12.19% of the post-issue total share capital, at an initial price of 11.35 yuan per share [1] - Currently, the stock is trading below its initial offering price, indicating a state of "broken issue" [1] Fundraising and Projects - Dongpeng Holdings raised a total of 1.623 billion yuan through its initial public offering, with a net amount of 1.48 billion yuan after deducting issuance costs [1] - The funds are allocated for several projects, including: - Renovation project for producing 3.15 million square meters of new eco-friendly stone materials - Expansion of four ceramic production lines - Phase II expansion of Li County Xinpeng Ceramics Co., Ltd. - Construction of a production line for 1.6 million water-saving sanitary ware - Production of 2.6 million water-saving sanitary ware and 1 million faucet units - Upgrading of information technology equipment and systems - Construction of an intelligent product display hall [1] - The total issuance costs for the IPO amounted to 143 million yuan, with underwriting fees accounting for 100 million yuan [1]

Group 1 - The core point of the news is that Dongpeng Holdings experienced a 5.01% drop in stock price, closing at 7.21 yuan per share, with a trading volume of 159 million yuan and a turnover rate of 1.89%, resulting in a total market capitalization of 8.342 billion yuan [1] - Dongpeng Holdings, established on November 4, 2011, and listed on October 19, 2020, is based in Foshan, Guangdong Province, and specializes in the research, production, and sales of building sanitary ceramics, including tiles and sanitary ware [1] - The main revenue composition of Dongpeng Holdings includes glazed tiles at 83.73%, sanitary ceramics at 6.81%, bathroom products at 5.86%, other products at 2.63%, and unglazed tiles at 0.96% [1] Group 2 - From the perspective of fund holdings, Ping An Fund has one fund heavily invested in Dongpeng Holdings, specifically the Ping An Balanced Optimal One-Year Holding Mixed A (013023), which increased its holdings by 10,000 shares in the second quarter, totaling 870,000 shares, representing 2.9% of the fund's net value [2] - The current estimated floating loss for the fund is approximately 330,600 yuan [2] - The Ping An Balanced Optimal One-Year Holding Mixed A fund was established on September 24, 2021, with a latest scale of 163 million yuan, and has achieved a year-to-date return of 5.2%, ranking 6661 out of 8160 in its category [2]