Core Insights - The company Zhongji Xuchuang (300308.SZ) reported a significant increase in revenue and net profit for the third quarter [1] Financial Performance - The company's revenue for the first three quarters reached 25 billion yuan, representing a year-on-year growth of 44.43% [1] - The net profit attributable to shareholders of the listed company was 7.13 billion yuan, showing a year-on-year increase of 90.05% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 7.08 billion yuan, with a year-on-year growth of 90.54% [1]

Core Points - The Shenzhen Leading Index (399653) closed at 3133.91 points, down 0.66%, with a trading volume of 143.46 billion yuan and a turnover rate of 1.42% [1] - Among the index constituents, 11 stocks rose while 39 stocks fell, with Huali Group leading the gainers at 2.75% and Ruida Futures leading the decliners at 7.39% [1] Index Constituents Summary - The top ten constituents of the Shenzhen Leading Index include: - Ningde Times (21.12% weight) at 398.29 yuan, down 0.43%, with a market cap of 181.73 billion yuan [1] - Midea Group (7.29% weight) at 75.30 yuan, up 1.21%, with a market cap of 57.86 billion yuan [1] - Zhongji Xuchuang (7.12% weight) at 514.74 yuan, down 1.15%, with a market cap of 57.19 billion yuan [1] - Luxshare Precision (6.18% weight) at 65.04 yuan, down 3.33%, with a market cap of 47.36 billion yuan [1] - BYD (5.69% weight) at 103.61 yuan, down 0.87%, with a market cap of 94.46 billion yuan [1] - Sungrow Power Supply (4.83% weight) at 194.68 yuan, up 1.67%, with a market cap of 40.36 billion yuan [1] - Wrigley (4.50% weight) at 118.47 yuan, down 0.30%, with a market cap of 45.99 billion yuan [1] - Gree Electric Appliances (3.53% weight) at 40.47 yuan, down 0.54%, with a market cap of 22.67 billion yuan [1] - ZTE Corporation (2.97% weight) at 44.83 yuan, down 2.97%, with a market cap of 21.44 billion yuan [1] - Xianlefang A (2.81% weight) at 4.09 yuan, up 0.49%, with a market cap of 15.30 billion yuan [1] Capital Flow Summary - The net outflow of main funds from the Shenzhen Leading Index constituents totaled 8.84 billion yuan, while retail investors saw a net inflow of 6.18 billion yuan [3] - Notable capital flows include: - Ningde Times with a net inflow of 94.67 million yuan from main funds and a net outflow of 38.40 million yuan from retail investors [3] - SF Holding with a net inflow of 93.43 million yuan from main funds and a net outflow of 61.70 million yuan from retail investors [3] - Other companies like Fenzhong Media and Luzhou Laojiao also experienced varying degrees of net inflows and outflows [3]

Core Insights - The company, Zhongji Xuchuang, reported significant growth in both revenue and profit for Q3 2025, with a net profit of 3.14 billion yuan, representing a year-on-year increase of 124.98% [1][3] - The revenue for Q3 reached 10.22 billion yuan, marking a 56.83% increase compared to the same period last year, while the cumulative revenue for the first three quarters was 25 billion yuan, up 44.43% year-on-year [1][2][3] Financial Performance - Q3 revenue was 10.22 billion yuan, a 56.83% increase year-on-year [2] - Net profit attributable to shareholders for Q3 was 3.14 billion yuan, up 124.98% year-on-year [1][2] - Cumulative revenue for the first three quarters was 25 billion yuan, reflecting a 44.43% year-on-year growth [2] - Net profit for the first three quarters reached 7.13 billion yuan, a 90.05% increase year-on-year [1][2] Inventory and Operational Changes - The company's inventory balance surged from 7.35 billion yuan at the beginning of the year to 11.22 billion yuan, an increase of 52.64% [3] - This inventory increase is attributed to a rise in orders for high-end optical modules, necessitating preparation for order fulfillment [3]

Core Insights - The public fund's third-quarter report reveals a significant shift in heavy stock holdings, with technology stocks dominating the top ten list, while traditional favorites like Ningde Times and Kweichow Moutai faced reductions in holdings [2][3][7]. Group 1: Market Trends - The technology sector has gained prominence, occupying four out of the top ten positions in public fund heavy stock holdings, with Zhongji Xuchuang and Xinyi Sheng ranking third and fourth respectively [3]. - The demand for artificial intelligence computing power has surged, leading to a notable rally in A-share technology stocks during the third quarter [2]. Group 2: Fund Holdings - Ningde Times remains the most favored stock, held by 2,124 funds with a total market value of 207.07 billion yuan, despite a reduction of 50.5 million shares [4][7]. - Kweichow Moutai, while still second in market value, also saw a decrease in holdings by 3.2 million shares [7]. - Zhongji Xuchuang and Xinyi Sheng have entered the top ten heavy stock list for the first time, with 1,158 and 1,116 funds holding them respectively [7]. Group 3: Fund Manager Perspectives - Fund managers are reassessing their investment frameworks, as traditional metrics like free cash flow yield and dividend yield seem less relevant in the current market environment [2][9]. - Some fund managers express concern over their portfolios being labeled as "old-style" investments, which have underperformed compared to market hotspots [9][10]. - The categorization of stocks into "old-style," "mid-style," and "new-style" reflects a broader market sentiment, with "old-style" stocks typically associated with traditional industries [10].

Core Viewpoint - Zhongji Xuchuang reported significant growth in revenue and net profit for the third quarter of 2025, indicating strong operational performance and market demand [1] Financial Performance - In Q3 2025, the company achieved a revenue of 10.216 billion yuan, representing a year-on-year increase of 56.83% [1] - The net profit attributable to shareholders reached 3.137 billion yuan, marking a year-on-year growth of 124.98% [1] - Basic earnings per share for Q3 2025 were 2.85 yuan [1] Year-to-Date Performance - For the first three quarters of 2025, the company reported a total revenue of 25.005 billion yuan, reflecting a year-on-year increase of 44.43% [1] - The net profit attributable to shareholders for the first three quarters was 7.132 billion yuan, showing a year-on-year growth of 90.05% [1] - Basic earnings per share for the first three quarters were 6.48 yuan [1]

Core Viewpoint - Zhongji Xuchuang (300308) reported significant growth in both revenue and net profit for Q3 2025, driven by increased sales of high-end optical modules due to the expansion of computing infrastructure and related capital expenditures [1] Financial Performance - Q3 2025 revenue reached 10.216 billion yuan, representing a year-on-year increase of 56.83% [1] - Q3 2025 net profit was 3.137 billion yuan, showing a year-on-year growth of 124.98% [1] - For the first three quarters of 2025, total revenue was 25.005 billion yuan, up 44.43% year-on-year [1] - Net profit for the first three quarters of 2025 amounted to 7.132 billion yuan, reflecting a year-on-year increase of 90.05% [1] Growth Drivers - The primary driver for revenue growth in the first three quarters was the increase in sales of 800G and other high-end optical modules, attributed to the growth in computing infrastructure construction and related capital expenditures [1]

2025 年第三季度报告披露的提示性公告 中际旭创股份有限公司董事会 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 2025 年 10 月 31 日 证券代码：300308 证券简称：中际旭创 公告编号：2025-097 中际旭创股份有限公司（以下简称"公司"或"中际旭创"）于 2025 年 10 月 29 日召开第五届董事会第二十四次会议，会议审议通过了《关于公司 2025 年 第三季度报告的议案》，为使投资者全面了解公司的经营成果、财务状况及未来发 展规划，公司 2025 年第三季度报告全文于 2025 年 10 月 31 日在中国证监会指定 的创业板上市公司信息披露网站巨潮资讯网（http://www.cninfo.com.cn）上披露， 请投资者注意查阅。 中际旭创股份有限公司 特此公告 ...

证券代码：300308 证券简称：中际旭创 公告编号：2025-098 中际旭创股份有限公司 第五届董事会第二十四次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 中际旭创股份有限公司(以下简称"公司"或"中际旭创")第五届董事会第二十 四次会议（以下简称"本次会议"）通知于 2025 年 10 月 19 日以传真、电子邮件等 方式发出，并于 2025 年 10 月 29 日上午 9:30 以通讯方式召开，会议由董事长刘圣先 生主持，会议应参加董事 8 人，实际参加董事 8 人，公司部分高级管理人员及相关人 员列席了会议。会议的召开及表决程序符合《公司法》等法律、行政法规、部门规章、 规范性文件及《公司章程》的有关规定，会议合法有效。会议审议并通过了以下议案： 一、审议通过了《关于公司 2025 年第三季度报告的议案》 根据《公司法》《公司章程》《上市公司信息披露管理办法》及其他有关规定， 公司编制了《中际旭创 2025 年第三季度报告》，报告内容能够真实、准确、完整地 反映公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 表决结果： ...

Financial Performance - The company's revenue for Q3 2025 reached ¥10,215,726,013.52, representing a 56.83% increase year-over-year[4] - Net profit attributable to shareholders was ¥3,136,817,052.00, a significant increase of 124.98% compared to the same period last year[4] - The basic earnings per share (EPS) for the period was ¥2.85, up 124.41% year-over-year[4] - Total operating revenue for the current period reached ¥25,004,800,851.32, an increase of 44.5% compared to ¥17,312,601,820.15 in the previous period[17] - Net profit for the current period was ¥7,569,731,091.52, representing a 95.5% increase from ¥3,871,569,380.15 in the previous period[18] - Total comprehensive income reached ¥7,540,220,164.17, a significant increase from ¥3,853,414,084.41 in the previous period[19] - Basic earnings per share rose to ¥6.48, compared to ¥3.42 in the prior period, reflecting strong profitability growth[19] Assets and Liabilities - Total assets increased by 37.62% to ¥39,726,194,819.53 compared to the end of the previous year[4] - Total assets reached ¥39,726,194,819.53, a growth of 37.7% compared to ¥28,866,276,555.26 in the previous year[17] - Total liabilities increased to ¥11,708,670,128.61, up 36.5% from ¥8,573,435,376.03 in the prior year[16] - The company’s total liabilities decreased by 60.68% for short-term borrowings, reflecting improved financial management[7] Cash Flow - The cash flow from operating activities for the year-to-date reached ¥5,454,821,227.43, a remarkable increase of 314.54%[8] - Net cash flow from operating activities increased to ¥5,454,821,227.43, up from ¥1,315,866,293.65 year-over-year[20] - Cash inflow from operating activities totaled ¥25,372,527,127.91, compared to ¥16,932,554,132.40 in the previous period, indicating robust sales performance[19] - Cash outflow for operating activities was ¥19,917,705,900.48, an increase from ¥15,616,687,838.75, reflecting higher operational costs[20] - Net cash flow from investing activities was negative at -¥1,304,371,835.37, an improvement from -¥1,998,167,657.55 in the previous period[20] - Cash flow from financing activities also showed a negative net flow of -¥1,343,109,824.74, compared to a positive flow of ¥822,877,951.90 last year[20] - The ending balance of cash and cash equivalents increased to ¥7,742,614,560.56, up from ¥3,348,413,631.42 in the previous period[20] Shareholder Information - The total number of common shareholders at the end of the reporting period is 132,336[9] - The largest shareholder, Shandong Zhongji Investment Holding Co., Ltd., holds 11.42% of shares, totaling 126,940,135 shares, with 4,600,000 shares pledged[9] - The second-largest shareholder, Wang Weixiu, holds 6.28% of shares, totaling 69,731,451 shares, with 1,350,000 shares pledged[9] - The total number of preferred shareholders with restored voting rights is 0, indicating no preferred shares in this category[9] - The top ten shareholders collectively hold a significant portion of the company's equity, with the largest two shareholders being aligned as acting in concert[10] - The company has not reported any changes in the number of shares due to lending or borrowing in the securities market[10] - The total number of restricted shares at the end of the period is 5,617,852, with no shares released during the reporting period[12] Research and Development - Research and development expenses rose by 27.41% to ¥945,331,888.65, reflecting the company's commitment to innovation[8] - Research and development expenses for the current period were ¥945,331,888.65, an increase of 27.5% from ¥741,977,641.53 in the previous period[17] Other Financial Metrics - The company received government subsidies amounting to ¥10,423,170.72 during the quarter, contributing positively to its financial performance[5] - Deferred income tax assets rose to ¥572,483,950.24, a significant increase from ¥221,725,300.82 year-over-year[15] - The company's cash and cash equivalents increased to ¥7,792,436,280.82 from ¥5,053,805,073.94, representing a growth of approximately 54.4%[14] - Accounts receivable rose to ¥6,694,526,710.09 from ¥4,603,556,643.17, indicating an increase of about 45.4%[14] - Inventory increased significantly to ¥10,902,024,234.63 from ¥7,051,320,216.04, reflecting a growth of approximately 54.1%[14] Audit Status - The company has not yet audited its third-quarter financial report[22]

值得注意的是，虽然公募基金第一大重仓股仍为宁德时代，但光模块企业成为三季度最大亮点。 CPO（光模块）龙头企业中际旭创（300308）与新易盛（300502）获资金热捧。数据显示，1158只基金 持有中际旭创，持股市值1110.68亿元，较二季度末增长287.89%，占流通股比例高达24.89%，一举跃升 为第三大重仓股。 公募基金2025年三季报出炉，这份"成绩单"取得历史性突破。21财经·南财快讯记者查询数据显示，截 至三季度末，公募基金持有A股市值突破7万亿关口，达7.38万亿元，创历史新高，较上一季度市值增长 22.23%，占所有基金资产总值的20.84%。 这是自2021年末突破6万亿元后，公募历时近四年再跨整数关，成为A股市场名副其实的"活水"源头。 另据天相投顾数据显示，截至三季度末，全部公募基金平均仓位为83.28%，较二季度末增加了2.13个百 分点。其中，股票型开放式基金平均仓位高达90.14%，提升了2.26个百分点。这一数据表明，面对三季 度市场的震荡走势，公募基金整体采取了更为积极的投资策略。 "宁王"稳居首位，光模块成"新宠" 从重仓股名单看，宁德时代（300750）（300750 ...