Core Insights - Wan Shun New Materials (300057.SZ) reported a significant decline in revenue and incurred losses in the third quarter of 2025 [1] Financial Performance - The company achieved a revenue of 1.397 billion yuan in the third quarter, representing a year-on-year decrease of 20.27% [1] - For the first three quarters, the total revenue was 4.09 billion yuan, down 13.86% compared to the same period last year [1] - The net loss for the third quarter was 34.0163 million yuan [1] - Cumulatively, the net loss for the first three quarters reached 87.0801 million yuan [1]

Core Viewpoint - Wan Shun New Materials (300057.SZ) reported a decline in revenue and an increase in net losses for the first three quarters of 2025 compared to the previous year [1] Financial Performance - The company's operating revenue for the first three quarters was 4.09 billion yuan, representing a year-on-year decrease of 13.86% [1] - The net loss attributable to shareholders of the listed company was 87.08 million yuan [1] - The net loss attributable to shareholders, excluding non-recurring gains and losses, was 94.59 million yuan [1] - The basic loss per share was 0.0978 yuan [1]

表决结果：赞成 3 票，反对 0 票，弃权 0 票。 - 1 - 详见中国证监会指定信息披露网站。 证券代码：300057 证券简称：万顺新材 公告编号：2025-043 债券代码：123085 债券简称：万顺转 2 汕头万顺新材集团股份有限公司 第六届监事会第十六次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确和完整，不存 在虚假记载，误导性陈述或者重大遗漏。 汕头万顺新材集团股份有限公司（以下简称"公司"）第六届监事会 第十六次会议于 2025 年 10 月 24 日上午 10:30 在公司会议室以现场会议 的方式召开，会议通知已于 2025 年 10 月 14 日以电话通知、专人送达等 方式送达全体监事。本次会议应参与表决监事 3 名，实际参与表决监事 3 名。会议由监事会主席邱佩菲女士主持，会议的召集和召开符合《公司法》 和《公司章程》的有关规定。会议采用记名投票的方式进行表决，经与会 的监事表决，审议通过了《2025 年第三季度报告》： 经审核，监事会认为《2025 年第三季度报告》的编制和审核程序符合 相关法律、法规、规范性文件及《公司章程》等有关规定；报告内容真实、 准确、完整 ...

证券代码：300057 证券简称：万顺新材 公告编号：2025-042 债券代码：123085 债券简称：万顺转 2 汕头万顺新材集团股份有限公司 第六届董事会第二十三次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，不存 在虚假记载，误导性陈述或者重大遗漏。 汕头万顺新材集团股份有限公司（以下简称"公司"）第六届董事会 第二十三次会议于 2025 年 10 月 24 日上午 09:30 在公司会议室以现场会 议的方式召开，会议通知已于 2025 年 10 月 14 日以电话通知、专人送达 等方式送达全体董事。本次董事会会议应出席董事 9 名，实际出席会议董 事 9 名，会议由董事长杜成城先生主持。会议的召集和召开符合《公司法》 和《公司章程》的有关规定。会议采用记名投票的方式进行表决，经与会 的董事表决，审议通过了《2025 年第三季度报告》： 经审核，董事会认为《2025 年第三季度报告》的编制和审核程序符合 相关法律、法规、规范性文件及《公司章程》等有关规定；报告内容真实、 准确、完整地反映了公司 2025 年前三季度的实际经营情况，不存在任何 虚假记载、误导性陈述或者重大遗漏。 ...

Financial Performance - The company's revenue for Q3 2025 was ¥1,397,293,230.51, a decrease of 20.27% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥34,016,285.10, representing a decline of 26.56% year-on-year[5]. - The company reported a basic earnings per share of -¥0.0381, a decrease of 29.13% compared to the previous year[5]. - The company reported a net loss of ¥85,961,965.66, representing a 111.16% increase in losses compared to the previous year[12]. - Operating profit decreased by 57.60% to ¥-84,834,915.67, primarily due to lower sales gross margin and increased asset impairment losses[12]. - The total profit loss amounted to ¥-87,186,457.44, reflecting a 68.28% increase in losses year-over-year[12]. - The company reported a net loss of ¥85,961,965.66 for the current period, compared to a net loss of ¥40,709,881.66 in the previous period, indicating an increase in losses of approximately 111.1%[30]. - Operating profit for the current period was ¥-84,834,915.67, a decline from ¥-53,830,859.61 in the previous period, reflecting a worsening performance[30]. - Basic and diluted earnings per share were both reported at ¥-0.0978, worsening from ¥-0.0398 in the previous period[31]. Cash Flow and Liquidity - The cash flow from operating activities for the year-to-date was ¥148,443,285.22, an increase of 139.72%[5]. - Cash flow from operating activities showed a significant improvement, with a net cash inflow of ¥148,443,285.22, compared to a net outflow of ¥-373,730,484.79 in the previous year, marking a 139.72% change[13]. - The cash and cash equivalents at the end of the period increased by 35.21% to ¥1,627,750,011.31, driven by improved cash flow from operations[13]. - The company's cash and cash equivalents increased to CNY 1,932,444,362.56 from CNY 1,668,672,645.13, reflecting a growth of 15.8%[25]. - Cash and cash equivalents at the end of the period totaled ¥1,627,750,011.31, an increase from ¥1,203,840,703.53 at the end of the previous period[33]. Assets and Liabilities - Total assets at the end of the reporting period were ¥10,583,294,821.40, reflecting a growth of 2.94% from the end of the previous year[5]. - The total liabilities decreased significantly, with contract liabilities down by 47.22% to ¥17,210,789.73, due to fewer advance payments received[10]. - The total assets of the company reached CNY 10,583,294,821.40, compared to CNY 10,280,997,998.15 at the beginning of the period, representing an increase of 2.9%[27]. - The total liabilities increased to CNY 5,392,457,731.55 from CNY 5,036,196,906.29, marking a rise of 7.1%[27]. - The company’s retained earnings decreased to CNY 611,861,406.18 from CNY 707,826,458.78, a decline of 13.5%[27]. Operational Highlights - In the first three quarters of 2025, the company achieved operating revenue of RMB 4.09 billion, a year-on-year decrease of 13.86%[20]. - The aluminum processing business sold 128,000 tons, a year-on-year increase of 4%, with aluminum foil sales of 51,000 tons from Jiangsu and 28,000 tons from Anhui[20]. - The company is advancing the construction of the 100,000-ton power and energy storage battery foil project, which will result in a total capacity of 255,000 tons of aluminum foil and 260,000 tons of aluminum plate and strip upon completion[20]. - The company has fulfilled 8.56% of the total expected supply volume under the cooperation framework agreement with downstream aluminum foil customers for the period 2023-2026[23]. Research and Development - The company filed 9 invention patents and 25 utility model patents in the first three quarters of 2025, bringing the total number of effective patents to 402[21]. - New products developed include high-stretch battery aluminum foil and high-dain battery aluminum foil, with the former already in mass supply[21]. - The company is focused on enhancing research and development in new materials to improve product competitiveness and production efficiency[21]. - The company incurred research and development expenses of ¥69,096,479.21, up from ¥64,257,211.93, indicating a focus on innovation[30]. Challenges and Market Conditions - The company is facing challenges due to domestic and international aluminum price inversions, declining processing fees, and increased asset impairment losses[20]. - The company experienced a 62.11% decrease in tax refunds received, totaling ¥44,562,036.05, due to the cancellation of export tax rebates for aluminum processing products[13]. - The company's interest income decreased by 42.76% to ¥13,129,520.17, primarily due to lower bank deposit interest[11]. - The company recorded a 118.76% increase in other income, amounting to ¥33,458,190.72, mainly from government subsidies related to normal operations[11].

Group 1 - The company, Wanshun New Materials (300057), stated on October 22 that some of its rolling mills are imported equipment, while others are a combination of domestic and imported components [1] - The imported equipment currently has advantages in precision and maintenance costs [1]

Group 1 - The company WanShun New Materials reported that as of October 20, 2025, the total number of accounts on the consolidated credit account register is 40,108 [2]

Core Insights - The industrial metals sector experienced a rise of 1.58% on October 21, with Wanshun New Materials 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] Industrial Metals Sector Performance - Wanshun New Materials (300057) closed at 5.97, with a gain of 7.18% and a trading volume of 461,600 shares, amounting to a transaction value of 270 million [1] - Hongchuang Holdings (002379) closed at 19.44, up 6.87%, with a trading volume of 236,700 shares and a transaction value of 451 million [1] - Jinchengxin (603979) closed at 65.66, increasing by 5.66%, with a trading volume of 96,800 shares and a transaction value of 626 million [1] - Other notable performers include Yunnan Aluminum (000807) with a 4.56% increase and China Aluminum (601600) with a 2.99% increase [1] Capital Flow Analysis - The industrial metals sector saw a net inflow of 103 million from institutional investors, while retail investors experienced a net outflow of 370 million [2][3] - Major stocks like China Aluminum (601600) had a net inflow of 124 million from institutional investors, while retail investors had a net outflow of 104 million [3] - Yunnan Aluminum (000807) also showed significant institutional interest with a net inflow of 117 million [3]

Group 1 - The core point of the news is that Wanshun New Materials has seen a stock price increase of 5.21%, reaching 5.86 CNY per share, with a total market capitalization of 5.261 billion CNY [1] - Wanshun New Materials, established on March 6, 1998, and listed on February 26, 2010, is located in Shantou Free Trade Zone, Guangdong Province, and primarily engages in the production and sales of aluminum foil and aluminum plates, as well as other related products [1] - The company's main business revenue composition includes aluminum processing products at 89.05%, transfer paper at 7.04%, and other businesses such as composite paper, trade business, and functional films [1] Group 2 - According to data, one fund under GF Fund holds Wanshun New Materials as a significant position, with the GF CSI 2000 ETF (560220) owning 57,900 shares, accounting for 0.59% of the fund's net value [2] - The GF CSI 2000 ETF has a total scale of 53.7022 million CNY and has achieved a year-to-date return of 32.41%, ranking 1252 out of 4218 in its category [2] - The fund manager, Xia Haoyang, has been in position for 4 years and 156 days, with the best fund return during his tenure being 71.97% [2]

Core Viewpoint - Wan Shun New Materials experienced a decline of 3.86% in stock price on October 16, with a trading volume of 196 million yuan, indicating potential market volatility and investor sentiment concerns [1]. Financing Summary - On October 16, Wan Shun New Materials had a financing buy-in amount of 30.13 million yuan, with a net financing buy of 13.42 million yuan after repayments of 16.71 million yuan [1]. - The total financing and securities balance reached 259 million yuan, accounting for 5.03% of the circulating market value, which is above the 90th percentile of the past year, indicating a high level of financing activity [1]. - The company had no short-selling activity on October 16, with a short-selling balance of 1,146 yuan and a remaining short-selling volume of 200 shares, which is also above the 70th percentile of the past year [1]. Business Performance - For the first half of 2025, Wan Shun New Materials reported a revenue of 2.692 billion yuan, reflecting a year-on-year decrease of 10.11%, and a net profit attributable to shareholders of -53.06 million yuan, a significant decline of 469% compared to the previous year [2]. - The company's main business revenue composition includes aluminum processing products at 89.05%, transfer paper at 7.04%, and other business segments contributing smaller percentages [1]. Shareholder Information - As of October 10, the number of shareholders for Wan Shun New Materials increased to 42,000, a rise of 1.00%, while the average circulating shares per person decreased by 0.99% to 17,255 shares [2]. - Since its A-share listing, the company has distributed a total of 434 million yuan in dividends, with 53.33 million yuan distributed over the past three years [3]. - As of June 30, 2025, Hong Kong Central Clearing Limited has exited the list of the top ten circulating shareholders [3].