Group 1 - The core point of the news is that Century Real has seen a stock price increase of 5.25%, reaching 6.82 CNY per share, with a trading volume of 1.04 billion CNY and a turnover rate of 3.45%, resulting in a total market capitalization of 39.90 billion CNY [1] - Century Real, established on May 3, 1999, and listed on December 22, 2010, is based in Haidian District, Beijing. The company specializes in railway operation safety monitoring systems, urban rail transit passenger information service systems, and comprehensive railway operation and maintenance services [1] - The revenue composition of Century Real includes: urban rail transit passenger information systems at 34.84%, railway comprehensive informatization business at 32.74%, railway operation safety monitoring systems at 32.02%, and other services at 0.39% [1] Group 2 - Among the top circulating shareholders of Century Real, a fund under Dacheng Fund holds a significant position. The Dacheng CSI 360 Internet + Index A (002236) reduced its holdings by 120,300 shares in the third quarter, now holding 2.9056 million shares, which accounts for 0.63% of the circulating shares [2] - The Dacheng CSI 360 Internet + Index A (002236) was established on February 3, 2016, with a latest scale of 788 million CNY. Year-to-date returns are 39.53%, ranking 1082 out of 4216 in its category; the one-year return is 35.95%, ranking 596 out of 3937; and since inception, the return is 229.09% [2]

Group 1 - The core point of the news is that Beijing Century Real Technology Co., Ltd. experienced a stock price increase of 5.59%, reaching 6.61 CNY per share, with a trading volume of 302 million CNY and a turnover rate of 10.43%, resulting in a total market capitalization of 3.868 billion CNY [1] - The company, established on May 3, 1999, and listed on December 22, 2010, specializes in railway operation safety monitoring systems, urban rail transit passenger information service systems, and comprehensive railway operation and maintenance services [1] - The revenue composition of the company's main business includes urban rail transit passenger information systems at 34.84%, railway comprehensive information services at 32.74%, and railway operation safety monitoring systems at 32.02%, with other revenues accounting for 0.39% [1] Group 2 - Among the top ten circulating shareholders of Century Real, a fund under Great Wall Fund holds a position. The Great Wall CSI 360 Internet + Index A (002236) reduced its holdings by 120,300 shares in the third quarter, now holding 2.9056 million shares, which represents 0.63% of the circulating shares [2] - The Great Wall CSI 360 Internet + Index A (002236) was established on February 3, 2016, with a latest scale of 788 million CNY. Year-to-date returns are at 39.83%, ranking 1201 out of 4216 in its category, while the one-year return is 44.71%, ranking 617 out of 3913 [2]

Core Viewpoint - Century Real is a leading supplier of railway operation safety monitoring systems in China, with a comprehensive service capability across the entire industry chain, particularly strong in the railway and urban rail sectors [1] Group 1: Business Performance - In Q3 2025, Century Real reported revenue of 511 million yuan, ranking 65th among 131 companies in the industry, significantly below the industry average of 2.833 billion yuan [2] - The company's main business segments include urban rail passenger information systems (124 million yuan, 34.84%), railway comprehensive information services (117 million yuan, 32.74%), and railway operation safety monitoring systems (114 million yuan, 32.02%) [2] - The net profit for the same period was 40.05 million yuan, ranking 39th in the industry, above the average of 25.96 million yuan and the median of 5.83 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Century Real's debt-to-asset ratio was 21.51%, down from 23.31% year-on-year and significantly lower than the industry average of 38.93%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 38.86%, lower than the previous year's 43.04% but still above the industry average of 29.96%, suggesting a maintained profitability advantage [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 5.52% to 29,800, while the average number of circulating A-shares held per shareholder decreased by 5.23% to 15,400 [5] - Among the top ten circulating shareholders, Dachen Zhongzheng 360 Internet + Index A (002236) ranked as the tenth largest, holding 2.9056 million shares, a decrease of 120,300 shares from the previous period [5] Group 4: Executive Compensation - The chairman, Zhu Jiangbin, received a salary of 515,100 yuan in 2024, an increase of 127,500 yuan from 387,600 yuan in 2023 [4]

Core Viewpoint - The company, Century Real (300150), announced that its subsidiary, Yiwixun, has won a bid for the maintenance project of passenger transport equipment and facilities along the Jintai Railway, indicating a significant development in its service capabilities and market presence [1] Group 1 - The project involves the maintenance of customer service information systems and electromechanical equipment at six passenger stations along the Jintai Railway [1] - This project represents a comprehensive large property maintenance model, showcasing the company's ability to manage complex service requirements [1]

Group 1 - The core point of the news is that Century Real has seen a stock price increase of 5.26%, reaching 5.80 CNY per share, with a total market capitalization of 3.394 billion CNY [1] - Century Real's main business includes railway operation safety monitoring systems, urban rail transit passenger information service systems, and comprehensive railway operation and maintenance services [1] - The revenue composition of Century Real's main business is as follows: urban rail transit passenger information systems 34.84%, railway comprehensive informatization business 32.74%, railway operation safety monitoring systems 32.02%, and others 0.39% [1] Group 2 - Among the top ten circulating shareholders of Century Real, a fund under Dacheng Fund holds a position, specifically Dacheng CSI 360 Internet + Index A (002236), which reduced its holdings by 120,300 shares in the third quarter [2] - As of the latest data, Dacheng CSI 360 Internet + Index A has a total asset size of 698 million CNY and has achieved a year-to-date return of 38.29% [2] - The fund manager of Dacheng CSI 360 Internet + Index A is Xia Gao, who has a cumulative tenure of 10 years and 330 days, with the best fund return during this period being 225.06% [3]

Core Viewpoint - The company, Century Real (300150), experienced a significant decline in stock price and reported mixed financial results for the third quarter of 2025, indicating potential challenges in revenue generation and profitability. Trading Information Summary - On October 24, 2025, Century Real's stock closed at 5.48 yuan, down 6.32%, with a turnover rate of 11.8% and a trading volume of 543,100 shares, amounting to a transaction value of 301 million yuan [1] - The net outflow of main funds was 14.18 million yuan, while retail investors saw a net outflow of 29.33 million yuan, and speculative funds had a net inflow of 43.52 million yuan [2] Shareholder Changes Summary - As of the end of the reporting period, the total number of ordinary shareholders was 29,811. The top three shareholders are as follows: - Niu Junjie holds 15.37% with 89,949,488 shares, of which 67,462,116 shares are under lock-up conditions - Wang Tie holds 12.23% with 71,534,273 shares, of which 53,650,705 shares are under lock-up conditions - Shandong Railway Development Fund Co., Ltd. holds 5.00% with 29,255,262 shares, with no lock-up conditions [2] Financial Performance Summary - For the third quarter of 2025, the company reported operating revenue of 154,813,889.15 yuan, a year-on-year decrease of 4.63%. Cumulative operating revenue for the year reached 510,957,961.59 yuan, a year-on-year increase of 5.21% [3] - The net profit attributable to shareholders was 110,182.69 yuan, a decrease of 99.30% year-on-year. Cumulative net profit for the year was 41,639,318.79 yuan, an increase of 27.23% year-on-year [3] - The net profit after deducting non-recurring gains and losses for the third quarter was -751,552.52 yuan, a decrease of 104.90% year-on-year, while the cumulative figure for the year was 37,477,932.04 yuan, an increase of 18.13% year-on-year [3] Cash Flow and Equity Summary - The net cash flow from operating activities for the year-to-date was -25,521,380.34 yuan, a decrease of 158.24% year-on-year [4] - Basic earnings per share for the year-to-date were 0.0712 yuan, an increase of 27.37% year-on-year, with a weighted average return on equity of 2.68%, up 0.52 percentage points year-on-year [4] - Total assets at the end of the period were 2,009,077,246.75 yuan, a decrease of 1.16% from the end of the previous year, while equity attributable to shareholders increased by 2.65% to 1,575,101,868.75 yuan [4] Company Announcements Summary - The previously disclosed share reduction plan by Shandong Railway Development Fund Co., Ltd. has expired on August 20, 2025, with no further updates on additional reductions [5][6] - The company's board of directors approved the third-quarter report on October 23, 2025, with all nine directors present and voting unanimously [6]

Company Overview - Beijing Century Real Technology Co., Ltd. is located in Haidian District, Beijing, and was established on May 3, 1999. The company was listed on December 22, 2010. Its main business involves railway operation safety monitoring systems, urban rail transit passenger information service systems, and comprehensive railway operation and maintenance services [1]. Business Composition - The revenue composition of the company is as follows: Urban rail transit passenger information systems account for 34.84%, railway comprehensive informatization business for 32.74%, railway operation safety monitoring systems for 32.02%, and other services for 0.39% [1]. Stock Performance - On October 24, the stock price of Century Real fell by 5.13%, reaching 5.55 CNY per share, with a trading volume of 123 million CNY and a turnover rate of 4.75%. The total market capitalization is 3.247 billion CNY [1]. Major Shareholders - Among the top ten circulating shareholders of Century Real, a fund under Dacheng Fund holds a position. The Dacheng CSI 360 Internet + Index A (002236) reduced its holdings by 120,300 shares in the third quarter, now holding 2.9056 million shares, which represents 0.63% of the circulating shares. The estimated floating loss today is approximately 871,700 CNY [2]. Fund Performance - The Dacheng CSI 360 Internet + Index A (002236) was established on February 3, 2016, with a current scale of 698 million CNY. Year-to-date returns are 36.51%, ranking 1126 out of 4218 in its category. Over the past year, returns are 48.71%, ranking 441 out of 3875, and since inception, the return is 221.95% [2]. Fund Management - The fund manager of Dacheng CSI 360 Internet + Index A is Xia Gao, who has been in the position for 10 years and 326 days. The total asset size of the fund is 2.26 billion CNY, with the best fund return during the tenure being 218.25% and the worst being -71.74% [3].

Core Insights - Century Real Estate (300150.SZ) reported a total revenue of 511 million yuan for Q3 2025, with a net profit attributable to shareholders of 41.64 million yuan [1] - The company experienced a significant decline in cash flow from operating activities, with a net outflow of 25.52 million yuan, a decrease of 69.34 million yuan compared to the same period last year, representing a year-on-year decline of 158.24% [1] Financial Performance - The latest debt-to-asset ratio stands at 21.51%, an increase of 0.68 percentage points from the previous quarter [3] - The gross profit margin is reported at 38.86%, down 2.19 percentage points from the previous quarter and down 4.18 percentage points year-on-year [3] - The return on equity (ROE) is recorded at 2.64% [3] - The diluted earnings per share (EPS) is 0.00 yuan, a decrease of 0.06 yuan compared to the same period last year, reflecting a year-on-year decline of 99.64% [3] - The total asset turnover ratio is 0.25 times, and the inventory turnover ratio is 1.12 times [3] Shareholder Structure - The number of shareholders is approximately 29,800, with the top ten shareholders holding a total of 215 million shares, accounting for 36.71% of the total share capital [3] - The top shareholders include: 1. Niu Junjie - 15.3 million shares 2. Wang Tie - 12.2 million shares 3. Shandong Railway Development Fund Co., Ltd. - 5.00 million shares 4. Wu Shuiqing - 0.75 million shares 5. Li Feng - 0.59 million shares 6. Wei Jiangang - 0.59 million shares 7. Zhang Noyu - 0.57 million shares 8. Zhu Luhu - 0.55 million shares 9. Qingdao Qianjin Technology Investment Co., Ltd. - 0.54 million shares 10. Peng Xianyu - 0.52 million shares [3]

Group 1 - High-speed Electric achieved a revenue of 810 million yuan, a year-on-year increase of 30.33%, and a net profit of 36.33 million yuan, up 54.32% year-on-year for the first three quarters [1] - Huaguang Bio reported a revenue of 868 million yuan, a year-on-year increase of 17.98%, and a net profit of 16.33 million yuan, up 146.55% year-on-year for the first three quarters [2] - North Navigation turned a profit with a net profit of 125 million yuan for the first three quarters, compared to a loss in the previous year, with a revenue of 2.468 billion yuan, up 210.01% year-on-year [3] Group 2 - Wukuang New Energy reported a revenue of 5.054 billion yuan, a year-on-year increase of 33.96%, but a net loss of 20.1 million yuan for the first three quarters [4] - Century Rui Er achieved a revenue of 5.110 billion yuan, a year-on-year increase of 5.21%, and a net profit of 41.64 million yuan, up 27.23% year-on-year for the first three quarters [5] - Jiejie Micro reported a revenue of 2.502 billion yuan, a year-on-year increase of 24.70%, and a net profit of 34.7 million yuan, up 4.30% year-on-year for the first three quarters [6] Group 3 - Zhejiang Huaye achieved a revenue of 739 million yuan, a year-on-year increase of 11.08%, and a net profit of 181 million yuan, up 143.68% year-on-year for the first three quarters [7] - Lege Co. reported a revenue of 4.846 billion yuan, a year-on-year increase of 21.92%, but a net profit of 16.9 million yuan, down 36.33% year-on-year for the first three quarters [8] - Huichuan Technology achieved a revenue of 31.663 billion yuan, a year-on-year increase of 24.67%, and a net profit of 4.254 billion yuan, up 26.84% year-on-year for the first three quarters [9] Group 4 - Jieya Co. reported a revenue of 565 million yuan, a year-on-year increase of 38.44%, and a net profit of 67.9 million yuan, up 95.78% year-on-year for the first three quarters [10] - Hengtian Hailong reported a revenue of 829 million yuan, a year-on-year increase of 0.89%, but a net profit of 274,780 yuan, down 93% year-on-year for the first three quarters [11] - Baolidi achieved a revenue of 1.058 billion yuan, a year-on-year increase of 4.57%, and a net profit of 106 million yuan, up 31.25% year-on-year for the first three quarters [12] Group 5 - Feitian Chengxin reported a revenue of 520 million yuan, a year-on-year increase of 3.10%, and a net profit of 10.38 million yuan, up 146.05% year-on-year for the first three quarters [13] - Xiangqiang Co. reported a revenue of 1.237 billion yuan, a year-on-year increase of 9.19%, but a net profit of 171 million yuan, down 5.90% year-on-year for the first three quarters [14] - Guangzheng Eye Care reported a revenue of 663 million yuan, a year-on-year decrease of 5.05%, but a net profit of 17,340 yuan, turning from loss to profit for the first three quarters [15] Group 6 - Sand Technology achieved a revenue of 430 million yuan, a year-on-year increase of 26.94%, and a net profit of 115 million yuan, up 47.52% year-on-year for the first three quarters [16] - Tianhao Energy reported a revenue of 1.941 billion yuan, a year-on-year decrease of 36.05%, and a net profit of 95.74 million yuan, down 27.25% year-on-year for the first three quarters [17] - Yiyuan Communication achieved a revenue of 17.877 billion yuan, a year-on-year increase of 34.96%, and a net profit of 733 million yuan, up 105.65% year-on-year for the first three quarters [18] Group 7 - Zhenhai Co. reported a revenue of 295 million yuan, a year-on-year decrease of 9.96%, and a net profit of 51.69 million yuan, down 8% year-on-year for the first three quarters [19] - Xinda Securities received approval to issue up to 10 billion yuan in corporate bonds for technology innovation [20] - Jingong Steel Structure signed a contract worth 1.23 billion yuan for an overseas project [21] Group 8 - Chuanfa Longmang plans to invest 366 million yuan in a lithium dihydrogen phosphate project [22] - Ningbo Energy plans to invest 58.5 million yuan to establish a joint venture [23] - China Unicom plans to spin off its subsidiary for listing on the Growth Enterprise Market [24] Group 9 - China Unicom reported a revenue of 292.985 billion yuan, a year-on-year increase of 1%, and a net profit of 8.772 billion yuan, up 5.2% year-on-year for the first three quarters [25] - Haigang Co. announced a plan to reduce its shareholding by 0.9965% [26] - Jintongling's subsidiary is facing bankruptcy liquidation [27] Group 10 - Lanshi Heavy Industry plans to transfer 51.02% of its environmental company shares for 14.39 million yuan [28] - Lanshi Heavy Industry's shareholder plans to reduce its stake by 1% [29] - Dongtian Micro reported a revenue of 637 million yuan, a year-on-year increase of 53.91%, and a net profit of 80.03 million yuan, up 99.20% year-on-year for the first three quarters [30] Group 11 - Siling Co. reported a revenue of 581 million yuan, a year-on-year increase of 4.38%, and a net profit of 14 million yuan, up 2.17% year-on-year for the first three quarters [31] - Hanrui Cobalt achieved a revenue of 4.871 billion yuan, a year-on-year increase of 16.49%, and a net profit of 238 million yuan, up 42.57% year-on-year for the first three quarters [32] - Ganfeng Lithium's vice president plans to reduce his stake by 40,000 shares [33] Group 12 - Kaile Co. plans to acquire at least 50% of Kesheng Machinery [34] - Huace Navigation achieved a revenue of 2.618 billion yuan, a year-on-year increase of 15.47%, and a net profit of 493 million yuan, up 26.41% year-on-year for the first three quarters [35] - Jingbeifang reported a revenue of 3.613 billion yuan, a year-on-year increase of 5.14%, and a net profit of 243 million yuan, up 7.94% year-on-year for the first three quarters [36] Group 13 - Weiergao achieved a revenue of 1.122 billion yuan, a year-on-year increase of 51.93%, and a net profit of 69.79 million yuan, up 48.11% year-on-year for the first three quarters [37] - Hanyi Co. reported a revenue of 139 million yuan, a year-on-year increase of 1.10%, and a net profit of 904,470 yuan, up 78.52% year-on-year for the first three quarters [38] - Boya Precision achieved a revenue of 387 million yuan, a year-on-year increase of 47.27%, and a net profit of 66.11 million yuan, up 82.87% year-on-year for the first three quarters [39] Group 14 - Qianfang Technology achieved a revenue of 5.256 billion yuan, a year-on-year decrease of 2.82%, and a net profit of 189 million yuan, up 1098.97% year-on-year for the first three quarters [40] - Binhua Co. submitted an application for H-share listing [41] - Chengde Lulu reported a revenue of 1.956 billion yuan, a year-on-year decrease of 9.42%, and a net profit of 384 million yuan, down 8.47% year-on-year for the first three quarters [42] Group 15 - Beifang Changlong reported a revenue of 122 million yuan, a year-on-year increase of 159.21%, but a net profit of 11.29 million yuan, turning from profit to loss for the first three quarters [43]

Core Insights - The company reported a revenue of 511 million yuan for the first three quarters of 2025, reflecting a year-on-year growth of 5.21% [1] - The net profit attributable to shareholders reached 41.64 million yuan, marking a year-on-year increase of 27.23% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 37.48 million yuan, showing a year-on-year growth of 18.13% [1] - The basic earnings per share stood at 0.0712 yuan [1]