Core Viewpoint - Kaishan Holdings announced that its wholly-owned subsidiary, Kaishan Terra Green Ammonia Limited, plans to invest in a project to produce 480,000 tons of green fertilizer and a geothermal power station in Kenya, with a total investment of approximately 5.996 billion yuan [1] Investment Details - The total investment for the project is estimated at 5.996 billion yuan, with construction costs accounting for 5.865 billion yuan and interest during the construction period amounting to 131 million yuan [1] - The construction period is set for 24 months from the effective date of the steam supply agreement and the issuance of the full commencement order [1] Revenue Projections - The project is expected to generate annual operating revenue between 220 million to 250 million US dollars [1] Approval Process - The project has been approved by the company's sixth board of directors' strategic committee during its first meeting of 2025 and the twelfth meeting of the sixth board of directors, pending further approval from the shareholders' meeting [1]

证券代码：300257 证券简称：开山股份 公告编号：2025-040 开山集团股份有限公司 开山集团股份有限公司（以下简称"公司"）于 2025 年 10 月 28 日召开第六 届董事会第十二次会议，审议通过了《关于修订公司章程的议案》。为进一步完 善公司治理结构，提升公司规范运作水平，根据《中华人民共和国公司法》（以 下简称《公司法》）、《上市公司章程指引》等相关法律、法规及规范性文件，结 合公司实际情况，公司决定不再设立监事会，并对《公司章程》进行修订。现将 具体内容公告如下： 一、公司不再设立监事会 为落实中国证监会关于上市公司内部监督机构调整的相关要求，根据《公司 法》《关于新<公司法>配套制度规则实施相关过渡期安排》等有关规定，公司决 定不再设置监事会或监事职位，监事会的职权由董事会审计委员会行使，公司《监 事会议事规则》相应废止，公司内部制度的相关条款作相应修订。 二、修改《公司章程》 根据上述情况，公司拟对《公司章程》部分条款进行修订。具体修订条款如 下： | 原公司章程内容 | 修改后章程内容 | | --- | --- | | 第一条 为维护公司、股东和债权人的 | 第一条 为维护公司、股 ...

证券代码：300257 证券简称：开山股份 公告编号：2025-039 开山集团股份有限公司 关于全资子公司在肯尼亚投资建设年产48万吨绿色化肥及 配套地热电站项目的公告 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。 重要内容提示： 1、项目涉及的投资金额、投运时间、年产量及收入等为计划数或预估数， 如未来公司业务规划发生调整，市场行情发生改变，该预估数存在调整的可能性。 2、项目生产所需原料包括向肯尼亚发电公司采购的蒸汽，目前《蒸汽供应 协议》的生效前提尚未全部满足，具体包括： ① 项目所生产的尿素、硝酸铵钙等产品，计划全部或大部分由肯尼亚农业 部负责包销，并由肯尼亚财政部提供付款保障。目前，项目公司与肯尼亚农业部 之间的《化肥包销协议》仍在起草阶段，且尚未获得肯尼亚财政部出具的相关支 持函。该包销机制的完整实施，有待《化肥包销协议》的正式签署生效以及肯尼 亚财政部支持函的正式落定。 ② 本次投资尚需公司股东会审议通过。 项目建设期为自《蒸汽供应协议》正式生效并取得全面开工令起 24 个月。 项目总投资额预计为 599,594 万元，其中建设投资为 586 ...

Group 1 - The core viewpoint of the article is that Kaishan Holdings (300257.SZ) reported its Q3 2025 results, highlighting the current institutional ownership and changes in shareholding patterns [1] - As of October 27, 2025, six institutional investors hold a total of 601 million shares of Kaishan Holdings, representing 60.52% of the total share capital [1] - The institutional ownership decreased by 1.35 percentage points compared to the previous quarter [1] Group 2 - Among public funds, two funds increased their holdings, specifically Penghua CSI 1000 Index Enhanced A and 1000 Enhanced ETF, with an increase in shareholding proportion of 0.12% [1] - A total of 91 public funds did not disclose their holdings in this period, including notable funds like Dongfanghong Vision Value Mixed A and several CSI 1000 ETFs [1] - In terms of foreign investment, one foreign fund, Hong Kong Central Clearing Limited, increased its holdings by 0.19% compared to the previous period [1]

Group 1 - The core point of the article is that Kaishan Holdings (SZ 300257) announced the convening of its sixth board meeting on October 27, 2025, to review the proposal for the 2025 Q3 report [1] - For the year 2024, the revenue composition of Kaishan Holdings is 100.0% from the machinery industry [1] - As of the report date, the market capitalization of Kaishan Holdings is 16.6 billion yuan [1]

Core Viewpoint - Kaishan Co., Ltd. has signed a steam supply agreement with KenGen for a geothermal power project in Kenya, with a total investment of approximately $800 million, aiming to produce green ammonia and fertilizers [1][2] Group 1: Project Details - The project involves the construction of a geothermal power plant with a capacity of 165.4 MW and a chemical facility capable of producing 100,000 tons of green ammonia annually [1] - The project company plans to purchase low-cost electricity from the national grid to increase total green ammonia production capacity to 200,000 tons per year [1] - Upon reaching full production, the project is expected to yield 180,000 tons of green urea and 300,000 tons of calcium ammonium nitrate, with most sales guaranteed by the Kenyan Ministry of Agriculture [1] Group 2: Financial Projections - The total investment for the project is estimated at $800 million, with projected annual revenue between $220 million and $250 million [1] - The operational period of the project is expected to exceed 25 years [1] Group 3: Company Operations and Performance - Kaishan Co., Ltd. specializes in the research, development, manufacturing, and sales of compressors, as well as geothermal resource exploration and development [3] - In Q3 2025, the company reported revenue of 1.19 billion yuan, a year-on-year increase of 10.45%, and a net profit of 114 million yuan, up 166.33% [3] - For the first three quarters of 2025, the company achieved revenue of 3.44 billion yuan, reflecting a year-on-year growth of 10.65%, and a net profit of 304 million yuan, an increase of 38.05% [3]

Group 1 - The core viewpoint of the article is that Kaishan Co., Ltd. has reported a positive financial performance for the third quarter, showing growth in both revenue and net profit [1] Group 2 - The company's revenue for the first three quarters reached approximately 3.44 billion yuan, representing a year-on-year increase of 10.65% [1] - The net profit attributable to shareholders of the listed company was approximately 304 million yuan, reflecting a year-on-year increase of 38.05% [1] Group 3 - Among the top ten circulating shareholders, new shareholders include Li Kun and Qian Yongchun [2]

Core Viewpoint - Kaishan Group Co., Ltd. reported a strong performance in the first three quarters of 2025, with significant growth in revenue and net profit, indicating a positive trend in the company's financial health and operational efficiency [1][2]. Financial Performance - The company's revenue for the first three quarters reached 3.441 billion yuan, a year-on-year increase of 10.65% [1]. - The net profit attributable to shareholders was 304 million yuan, reflecting a year-on-year growth of 38.05% [1]. - The net profit after deducting non-recurring gains and losses was 298 million yuan, up 41.67% year-on-year [1]. - Basic earnings per share stood at 0.31 yuan [2]. Profitability Metrics - The gross profit margin for the first three quarters was 36.04%, an increase of 3.12 percentage points year-on-year [2]. - The net profit margin was 8.86%, up 1.76 percentage points compared to the same period last year [2]. - In Q3 2025, the gross profit margin was 36.31%, a year-on-year increase of 3.65 percentage points, but a slight decrease of 0.37 percentage points from the previous quarter [2]. - The net profit margin for Q3 was 9.42%, which is an increase of 5.41 percentage points year-on-year and up 0.48 percentage points from the previous quarter [2]. Expense Analysis - Total operating expenses for Q3 amounted to 787 million yuan, an increase of 86.87 million yuan year-on-year [2]. - The expense ratio was 22.87%, up 0.36 percentage points from the same period last year [2]. - Sales expenses increased by 1.89%, management expenses rose by 16.47%, while R&D expenses decreased by 1.91%, and financial expenses increased by 21.00% year-on-year [2]. Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 13,500, a decrease of 3,768 shareholders or 21.78% from the end of the previous half [2]. - The average market value of shares held per shareholder increased from 578,300 yuan at the end of the previous half to 1,132,800 yuan, marking a growth of 95.89% [2]. Company Overview - Kaishan Group Co., Ltd. is located in the Shanghai Free Trade Zone and was established on July 11, 2002, with its listing date on August 19, 2011 [3]. - The company specializes in the research, manufacturing, and sales of screw air compressors, screw expansion generators, and geothermal power generation equipment [3]. - The revenue composition includes 63.84% from compressor products, 22.72% from geothermal power generation, and 13.45% from other sources [3]. - The company is classified under the machinery equipment sector, specifically in general equipment [3].

Company Announcements - Tongfu Microelectronics reported a net profit growth of 95.08% in Q3, with revenue of 7.08 billion yuan, up 17.94% year-on-year [1] - Guizhou Moutai's chairman Zhang Deqin resigned, with Chen Hua recommended as the new chairman [3] - Victory Shares is planning to acquire gas-related assets controlled by its major shareholder, leading to a stock suspension [3] - Northern Rare Earth's net profit increased by 280% in the first three quarters, driven by higher sales volume [5] - China Nuclear Engineering signed contracts for the construction of the Haiyang Nuclear Power Units 5 and 6 [5] - Kingsoft Office's net profit grew by 35.42% in Q3, with WPS 365 revenue increasing by 71.61% [6] - Postal Savings Bank received approval to establish a financial asset investment company with a registered capital of 10 billion yuan [8] - West Mining's subsidiary won exploration rights for a copper polymetallic mine for 8.609 billion yuan [4] Financial Performance - High德红外 reported a net profit increase of 1059% in Q3, with revenue of 1.134 billion yuan, up 71.07% year-on-year [17] - Purtai's net profit grew by 69% in Q3, supported by strong demand in the power and energy storage battery markets [18] - Yubo Technology's net profit surged by 384% in the first three quarters, driven by rapid growth in AIDC market orders [14] - Sichuan Gold's net profit increased by 184% in Q3, attributed to rising gold prices [16] - Hailey Wind Power's net profit skyrocketed by 779% in Q3, with revenue up 134.73% [7] - Huazhi Technology's net profit rose by 51% in Q3, mainly due to business expansion [5] Strategic Investments - Zhenyu Technology plans to invest 2.11 billion yuan in humanoid robot precision module and component projects [9] - China Aluminum's subsidiary plans to invest 500 million yuan in Yunnan Aluminum Foil [20] - Zhongfu Industrial intends to invest 356 million yuan in a new energy aluminum foil project [19] - Kaishan Group signed contracts for an 800 million USD green ammonia project in Kenya [19]

Core Viewpoint - Kaishan Holdings (300257) has signed a steam supply agreement with KenGen for its geothermal project in Kenya, aiming to produce green ammonia and green fertilizers through hydrogen production from geothermal energy [1] Group 1: Project Overview - The project company, Kaishan Terra Green Ammonia Limited, will construct and operate a geothermal power plant with a planned capacity of 165.4 megawatts [1] - The facility is designed to produce 100,000 tons of green ammonia annually, with plans to increase total production capacity to 200,000 tons by purchasing off-peak electricity from the national grid [1]