Group 1 - The core viewpoint of the article highlights Donghua Testing's third-quarter performance, showing a revenue of approximately 385 million yuan, which represents an 8.7% year-on-year increase [1] - The net profit attributable to shareholders of the listed company is around 101 million yuan, reflecting a year-on-year increase of 2.23% [1] - The basic earnings per share is reported at 0.7336 yuan, marking a 2.44% year-on-year increase [1]

证券代码：300354 证券简称：东华测试 公告编号：2025-052 审议结果：赞成7票；反对0票；弃权0票，通过。 江苏东华测试技术股份有限公司 第六届董事会第十次会议决议公告 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。 一、董事会会议召开情况 江苏东华测试技术股份有限公司（以下简称"公司"）于2025年10月20日在 公司会议室以现场结合通讯方式召开了第六届董事会第十次会议，会议通知及相 关资料于2025年10月10日通过邮件方式发出。本次董事会会议应出席董事7名， 实际出席董事7名。会议由董事长刘士钢主持，公司有关高级管理人员列席了会 议。会议的召集及召开程序符合《中华人民共和国公司法》及《公司章程》的规 定。 二、董事会会议审议情况 经与会董事认真审议与表决，形成了以下决议： 1、审议通过《关于公司2025年第三季度报告的议案》 全体董事一致认为公司《2025年第三季度报告》的编制程序、内容、格式符 合相关文件的规定；三季报编制期间，未有泄密及其他违反法律法规、《公司章 程》或损害公司利益的行为发生；公司的财务报告真实、准确、完整地反映了公 司的 ...

Group 1 - The core viewpoint of the article highlights Donghua Testing's financial performance in the third quarter, showing a revenue of 102 million yuan, which represents a year-on-year increase of 30.75% [1] - The net profit for the third quarter was 24.8624 million yuan, reflecting a slight year-on-year growth of 0.50% [1] - For the first three quarters, the total revenue reached 385 million yuan, marking an 8.70% year-on-year increase [1] Group 2 - The net profit for the first three quarters amounted to 101 million yuan, with a year-on-year growth of 2.23% [1]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥102,393,404.56, representing a year-on-year increase of 30.75%[5] - Net profit attributable to shareholders was ¥24,862,435.33, a slight increase of 0.50% compared to the same period last year[5] - The net profit excluding non-recurring gains and losses decreased by 8.05% to ¥22,750,267.06[5] - Total operating revenue for the current period reached ¥385,006,862.42, an increase of 8.5% compared to ¥354,181,217.45 in the previous period[21] - Net profit for the current period was ¥100,495,074.86, slightly increasing from ¥98,521,774.55, representing a growth of 2.0%[21] - The net profit attributable to the parent company's shareholders for the current period is ¥101,249,054.99, compared to ¥99,044,982.63 in the previous period, reflecting an increase of approximately 2.2%[22] - The total comprehensive income attributable to the parent company's owners is ¥101,249,054.99, up from ¥99,044,982.63, indicating a growth of about 2.2%[22] - Basic and diluted earnings per share for the current period are both ¥0.7336, compared to ¥0.7161 in the previous period, representing an increase of approximately 2.1%[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥930,478,137.05, an increase of 10.27% from the end of the previous year[5] - Current assets totaled ¥754,864,328.72, up from ¥669,607,030.81, indicating a rise of 12.7%[19] - Total liabilities increased to ¥105,215,608.18 from ¥87,177,487.35, representing a growth of 20.7%[19] - The total equity attributable to shareholders increased by 9.23% to ¥822,935,031.29 compared to the end of the previous year[5] - The total equity attributable to shareholders increased to ¥822,935,031.29 from ¥753,392,066.80, a growth of 9.2%[19] Cash Flow - Cash flow from operating activities for the year-to-date increased significantly by 258.45% to ¥29,139,851.57[5] - Cash inflows from operating activities totaled ¥378,360,282.70, compared to ¥290,679,282.97 in the previous period, marking an increase of about 30.1%[23] - The net cash flow from operating activities is ¥29,139,851.57, a significant recovery from a net outflow of ¥18,390,066.92 in the previous period[24] - Cash and cash equivalents at the end of the period amount to ¥73,059,362.08, up from ¥29,621,324.09, indicating a substantial increase of approximately 146.5%[24] - Cash outflows from investing activities resulted in a net cash flow of -¥12,385,303.14, an improvement from -¥16,666,409.14 in the previous period[24] - Cash outflows from financing activities resulted in a net cash flow of -¥4,961,152.45, compared to -¥9,713,936.02 in the previous period, showing a reduction in outflows[24] - The company received cash from borrowing amounting to ¥19,600,000.00, compared to ¥18,000,000.00 in the previous period, reflecting an increase of approximately 8.9%[24] Shareholder Information - The total number of common shareholders at the end of the reporting period is 13,836[13] - Liu Shigang holds 48.27% of shares, totaling 66,766,140 shares, with 9,460,000 shares pledged[13] - The top 10 shareholders include Liu Shigang, Luo Mian, and Huang Yuqing, with Liu holding 15,941,693 unrestricted shares[13] - The total number of restricted shares at the end of the period is 57,011,607, with 109,019 shares released during the period[15] - The company has a total of 50,824,447 restricted shares held by Liu Shigang, which are subject to a 25% annual transfer limit[15] - The company has not reported any changes in the number of shares due to lending or returning shares in the margin trading business[13] Other Information - The company has not disclosed any new strategies or significant events in the reporting period[16] - There are no new product developments or technological advancements mentioned in the report[16] - The company has not provided specific future outlook or performance guidance in the conference call[16] - The report does not indicate any market expansion or acquisition activities during the period[16] - The company incurred a 183.17% increase in income tax expenses, totaling ¥21,948,614.03, due to an increase in total profit and tax settlement for 2024[11] - Other income increased by 31.53% to ¥10,872,167.17, primarily due to an increase in government subsidies[11] - The company reported a significant increase in non-operating income by 643.44% to ¥242,931.19, attributed to a rise in non-operating revenue[11] - The weighted average return on equity was 3.07%, down by 0.22% compared to the previous year[5] - The company has not undergone an audit for the third quarter financial report[25]

10月21日，东华测试盘中上涨2.04%，截至11:22，报46.58元/股，成交9482.53万元，换手率2.55%，总 市值64.43亿元。 分红方面，东华测试A股上市后累计派现1.47亿元。近三年，累计派现6657.88万元。 机构持仓方面，截止2025年6月30日，东华测试十大流通股东中，香港中央结算有限公司位居第六大流 通股东，持股93.64万股，相比上期减少19.95万股。 责任编辑：小浪快报 资料显示，江苏东华测试技术股份有限公司位于江苏省靖江市新港大道208号(沿江公路罗家港桥东北 侧)，成立日期1993年3月8日，上市日期2012年9月20日，公司主营业务涉及结构力学性能测试仪器及配 套软件的研发、生产和销售,并提供应用解决方案和技术服务。主营业务收入构成为：结构力学性能测 试分析系统71.99%，结构安全在线监测及防务装备PHM系统12.89%，电化学工作站10.54%，其他(补 充)4.58%。 东华测试所属申万行业为：机械设备-通用设备-仪器仪表。所属概念板块包括：传感器、工业4.0、机器 人概念、华为概念、专精特新等。 截至6月30日，东华测试股东户数1.51万，较上期增加4.20% ...

Core Insights - Donghua Testing is collaborating with Nidec on testing and verification in the field of transmission systems and joint modules [1] Company Collaboration - Nidec's chairman and director visited Donghua Testing for strategic discussions [1] - The partnership will focus on providing data support for Nidec's precision transmission products, including harmonic reducers and motors [1]

Core Viewpoint - Donghua Testing has signed a strategic cooperation agreement with Nantong Zhenkang to jointly explore market opportunities in high-precision actuators and intelligent modules for industrial and humanoid robots [1] Group 1: Strategic Cooperation - The partnership aims to enhance collaborative innovation in testing control platforms for rotary joint modules and related fields [1] - The focus is on expanding the market for high-precision actuators and intelligent modules in the industrial robot and humanoid robot sectors [1] Group 2: Product Development - The company's six-dimensional force sensor is currently in the small-batch trial production stage [1] - Downstream application areas include industrial robots, humanoid robots, aerospace, automotive, electronics, and medical sectors, which are expected to become new growth points with the industrialization of humanoid robots [1] Group 3: Financial Plans - The company plans to raise 150 million yuan through a private placement to fund the upgrade of the intelligent measurement and control industry and for working capital [1] - The company maintains an "overweight" rating [1]

Investment Rating - The investment rating for the company is "Accumulate" [4] Core Views - The company has signed a strategic cooperation agreement with Nantong Zhinkang to jointly expand into the field of high-precision actuators and intelligent modules for robots [1] - The company focuses on the research and production of intelligent measurement and control systems, continuously expanding its product line, which includes structural mechanics testing systems and online monitoring systems [2] - The company plans to raise up to 150 million yuan through a private placement to upgrade its intelligent measurement and control industry and supplement working capital [3] - The projected net profits for the company from 2025 to 2027 are expected to be 160 million, 210 million, and 270 million yuan, respectively, with corresponding PE ratios of 41, 32, and 25 times [4] Summary by Sections Strategic Cooperation - The company has established a strategic partnership with Nantong Zhinkang to enhance collaboration in the development and industrialization of robotic joint modules [1] Product Development - The company has a diverse product line including structural mechanics testing systems, online monitoring systems, and PHM systems, with a focus on expanding into humanoid robots [2] - The six-dimensional force sensor is in the small batch trial production stage, with applications in various industries including robotics and aerospace [2] Fundraising and Financial Outlook - The company aims to raise 150 million yuan, with 105 million yuan allocated for upgrading its production facilities and 45 million yuan for working capital [3] - Revenue projections indicate a growth rate of 32.79% in 2024, with steady increases in subsequent years [5] Profit Forecast - The expected net profit growth rates for 2025, 2026, and 2027 are 33.4%, 27.3%, and 28.4%, respectively, indicating strong profitability potential [4]

Core Viewpoint - Donghua Testing announced the establishment of branch offices in Wuhan and Xi'an, enhancing its operational footprint and market presence [2] Company Developments - The sixth board meeting of Donghua Testing was held on August 20, 2025, where the proposal to set up branch offices was approved [2] - The Wuhan branch was officially registered on August 21, 2025, indicating a swift implementation of the decision [2] - The Xi'an branch has also completed its registration and recently obtained a business license from the Xi'an High-tech Zone Market Supervision Administration [2]

Core Viewpoint - The joint module, as a core motion component of humanoid robots, significantly impacts overall performance and industry development. The market demand for joint modules is expected to grow, with a projected demand of 4.82 million sets and a market size exceeding 68.9 billion yuan in five years. However, challenges such as technology optimization, cost control, and scene adaptability remain prevalent in the industry [1]. Group 1: Market Demand and Challenges - The demand for joint modules is anticipated to reach 4.82 million sets in five years, with a market size projected to exceed 68.9 billion yuan [1]. - The industry faces challenges including technology optimization, cost control, and scene adaptability, as evidenced by an international humanoid robot manufacturer planning a technical route reconstruction for its third-generation product due to high costs and inadequate adaptability of its second-generation product [1]. Group 2: Strategic Cooperation - Jiangsu Donghua Testing Technology Co., Ltd. and Nantong Zhenkang Machinery Co., Ltd. have signed a strategic cooperation agreement focusing on the R&D and industrialization of humanoid robot joint module technology [3]. - The cooperation aims to leverage each company's technological strengths to enhance the testing control platform for rotary joint modules and explore opportunities in high-precision actuators and intelligent modules for industrial and humanoid robots [3]. Group 3: Technical Complementarity - The collaboration between Donghua Testing and Nantong Zhenkang is based on their complementary technological capabilities in humanoid robot joint modules, focusing on four promising technical directions: dual rigid wheel harmonic modules, planetary roller screw modules, RV reducer modules, and micro screw modules [3]. - Nantong Zhenkang identifies the RV reducer module as the optimal solution for key humanoid robot joints, having mastered the core technology for products with a diameter of 50mm, which offers multiple advantages after structural optimization and lightweight improvements [3]. Group 4: Donghua Testing's Expertise - Donghua Testing specializes in intelligent measurement and control systems, with over 30 years of experience in structural mechanics performance research, testing, simulation analysis, and custom measurement and control systems [5]. - The company's high-precision sensor products, including six-dimensional force sensors, achieve linear accuracy of 0.3% FS, meeting international standards and ensuring reliable performance in complex environments [6][7]. Group 5: Synergistic Model and Industry Impact - The strategic cooperation forms a synergistic model of "joint module core structure R&D + high-precision measurement and control technology support," addressing multiple technical pain points in joint module development [9]. - The collaboration is expected to lead to significant improvements in the performance stability and reliability of joint modules, ultimately driving the humanoid robot industry towards higher precision, reliability, and lower costs [15].