Financial Performance - The company's revenue for Q3 2025 was ¥366,166,719.50, a decrease of 31.09% compared to the same period last year[5] - Net profit attributable to shareholders was ¥135,180,746.88, down 32.61% year-over-year[5] - The basic earnings per share for the period was ¥0.26, reflecting a decline of 35.00% compared to the previous year[5] - Total operating revenue decreased to ¥1,250,239,562.54 from ¥1,546,171,660.26, representing a decline of approximately 19.1% year-over-year[20] - Net profit for the period was ¥488,417,997.40, down from ¥540,565,740.67, reflecting a decline of approximately 9.6% year-over-year[21] - Earnings per share decreased to ¥0.93 from ¥1.06, a decline of about 12.3% year-over-year[22] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥4,986,091,814.39, an increase of 3.73% from the end of the previous year[5] - Total assets increased to ¥4,986,091,814.39 from ¥4,806,884,880.38, reflecting a growth of approximately 3.74%[17] - Total current liabilities decreased to ¥678,263,317.09 from ¥777,730,820.51, a reduction of about 12.76%[17] - Total liabilities decreased to ¥719,077,483.99 from ¥818,613,854.82, a reduction of about 12.1% year-over-year[18] - Total equity attributable to shareholders increased to ¥4,223,612,036.13 from ¥3,947,782,682.37, an increase of approximately 7.0% year-over-year[18] Cash Flow - The net cash flow from operating activities was ¥245,114,093.43, a significant decrease of 49.66% year-to-date[5] - Cash flow from operating activities generated ¥245,114,093.43, down from ¥486,933,972.19, a decrease of approximately 49.6% year-over-year[23] - Cash inflow from investment activities totaled $133,954,700.08, an increase from $99,852,406.18 in the previous period, representing a growth of approximately 34%[24] - Cash outflow from investment activities was $195,313,904.60, down from $414,329,002.61, indicating a reduction of about 53%[24] - Net cash flow from investment activities was -$61,359,204.52, an improvement from -$314,476,596.43, showing a significant reduction in losses[24] - Cash inflow from financing activities amounted to $15,000,000.00, compared to $19,820,200.00 in the previous period, reflecting a decrease of approximately 24%[24] - Net cash flow from financing activities was -$212,688,328.53, an improvement from -$241,750,666.56, showing a reduction in losses[24] - The net increase in cash and cash equivalents was -$28,163,381.72, compared to -$68,590,805.40 in the previous period, indicating a significant improvement[24] - The ending balance of cash and cash equivalents was $642,786,047.62, up from $555,274,449.43, representing an increase of approximately 16%[24] Shareholder Information - Total number of common shareholders at the end of the reporting period is 28,221[12] - The largest shareholder, Hangzhou Juhua Group, holds 21.39% of shares, totaling 109,986,235 shares[12] - The company has no preferred shareholders as per the report[13] - The number of restricted shares at the end of the period is 245,752, down from 327,502, after 81,750 shares were released from restriction[14] - There are no changes in the participation of major shareholders in margin financing and securities lending[12] Other Financial Metrics - The company reported a 62.53% decline in investment income, totaling ¥4,137,540.10 for the first nine months of 2025[8] - The fair value change income increased by 190.58%, reaching ¥49,732,388.48, due to the valuation of financial assets[8] - The company experienced a 95.27% decrease in trading financial assets, which fell to ¥2,441,803.23[8] - The company received government subsidies amounting to ¥3,031,336.73 during the reporting period[6] - The company reported a 41.94% decrease in notes payable, totaling ¥137,935,000.00, due to reduced bank acceptance bill settlements[8] - Other income increased to ¥74,678,925.52 from ¥64,531,354.43, an increase of about 15.5% year-over-year[21] - Financial expenses showed a net income of -¥58,745,797.14 compared to -¥43,802,364.99, indicating an increase in financial costs[20] - Deferred income tax liabilities rose to ¥33,385,540.35 from ¥27,111,933.25, an increase of approximately 23.1% year-over-year[18] Accounting and Audit - The company’s third-quarter financial report was not audited[25] - The company will implement new accounting standards starting in 2025, but this does not apply to the current reporting period[26]

证券代码：300360 证券简称：炬华科技 公告编号：2025-039 杭州炬华科技股份有限公司 2025 年三季度利润分配方案 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。 杭州炬华科技股份有限公司（以下简称"公司"）于 2025 年 10 月 24 日召 开了第五届董事会第十九次会议、第五届监事会第十五次会议，审议通过了《关 于公司 2025 年三季度利润分配方案的议案》。公司于 2025 年 5 月 12 日召开的 2024 年度股东大会已授权董事会在满足条件及派发上限的情况下审议本次利润 分配方案，无需再次提交公司股东大会审议。现将具体情况公告如下： 1.2025 年 10 月 24 日，公司召开了第五届审计委员会第十二次会议，审议 通过了《关于公司 2025 年三季度利润分配方案的议案》，与会委员认为：公司 2025 年三季度利润分配方案符合相关法律、法规及《公司章程》的规定，该方 案体现的现金分红水平合理，同意将该议案提交董事会审议。 2.2025 年 10 月 24 日，公司召开了第五届董事会第十九次会议，审议通过 了《关于公司 2025 年三 ...

Investment Rating - The report maintains a "Recommended" rating for key companies in the industry, including Weisheng Information, Haixing Electric Power, and Juhua Technology [4]. Core Insights - The 2025 State Grid third batch of metering equipment bidding shows a clear trend of technological upgrades, with an increase in the number of high-end meter bids and a shift towards supporting international standards [3]. - Price adjustments in the bidding process are expected to alleviate previous price pressures in the industry, as the scoring criteria for price calculations have been modified [2]. - The overall bidding quantity for electric meters has improved on a month-on-month basis, indicating a potential recovery in both volume and profit for domestic smart meters [3]. Summary by Sections Bidding Overview - The third bidding round for metering equipment by the State Grid includes 10 sub-bids and 386 packages, with a total of 217 packages for electric meters, showing a month-on-month increase [1]. - The bidding for collection terminals and metering transformers has decreased compared to previous rounds, indicating a mixed demand landscape [1]. Price Adjustments - The scoring formula for price evaluation has been revised, which is expected to reduce the pressure of continuous price declines in the industry [2]. - The floating coefficient range has been adjusted, and extreme low-price bids have been excluded from the current bidding process [2]. Technological Trends - The bidding for A-level single-phase meters remains stable, with a significant increase in the proportion of low-power models [3]. - The demand for B/C-level three-phase meters has grown, particularly in provinces with strong renewable energy needs [3]. Investment Recommendations - The report suggests focusing on high-quality domestic electric meter companies such as Weisheng Information, Haixing Electric Power, and Juhua Technology, as they are well-positioned to benefit from the upcoming market changes [3].

Core Insights - On October 22, Juhua Technology's stock fell by 1.52% with a trading volume of 127 million yuan, indicating a decline in investor confidence [1] - The company reported a net financing outflow of 274,900 yuan on the same day, with a total financing and securities balance of 461 million yuan, which is high compared to historical levels [1] Financing Summary - On October 22, Juhua Technology had a financing buy-in amount of 22.72 million yuan, with a current financing balance of 461 million yuan, representing 5.78% of its market capitalization [1] - The financing balance is above the 90th percentile of the past year, indicating a high level of leverage [1] Securities Lending Summary - On the same day, Juhua Technology repaid 800 shares in securities lending and sold 900 shares, with a selling amount of 14,000 yuan based on the closing price [1] - The remaining securities lending volume was 39,400 shares, with a balance of 611,100 yuan, also exceeding the 90th percentile of the past year [1] Company Overview - Juhua Technology, established on April 6, 2006, and listed on January 21, 2014, specializes in smart metering and collection systems, smart power terminals, IoT smart water meters, and related products [2] - The company's revenue composition includes 80.26% from smart metering systems, 9.11% from IoT communications and sensors, and smaller contributions from other segments [2] Financial Performance - For the first half of 2025, Juhua Technology reported a revenue of 884 million yuan, a year-on-year decrease of 12.88%, while net profit attributable to shareholders increased by 1.00% to 344 million yuan [2] Shareholder Information - As of October 20, 2025, the number of shareholders increased by 1.58% to 28,700, with an average of 17,451 circulating shares per person, a decrease of 1.56% [2] - The company has distributed a total of 1.157 billion yuan in dividends since its A-share listing, with 664 million yuan distributed in the last three years [3]

Core Viewpoint - The company, Juhua Technology, has confirmed its overseas business presence in regions beyond Europe, including Southeast Asia, Central Asia, and Africa, while currently lacking investments in overseas production bases [1] Group 1: Overseas Business - The company has expanded its overseas business to include Southeast Asia, Central Asia, and Africa, in addition to the European market [1] - There are no current investments in overseas production bases [1] Group 2: Product Standards - The company offers charging pile products that meet national standards, European standards, and American standards [1] - Specific data regarding product specifications can be found in the company's regular reports [1]

Group 1 - The company, Juhua Technology, is involved in smart metering and collection systems (AMI) for both domestic and international markets in the water and electricity sectors [2] - The company offers intelligent water meters and comprehensive solutions for smart water management systems [2]

Core Viewpoint - Juhua Technology reported that as of October 20, 2025, the total number of shareholders is 28,667 [2] Summary by Category - Company Information - Juhua Technology has a total of 28,667 shareholders as of the specified date [2]

每经AI快讯，有投资者在投资者互动平台提问：1、请问海外业务包括哪些国家？目前销售收入占总收 入大概是多少？2、在海外是否投资了生产基地？如果有，在哪些国家？3、充电桩业务部分，是否在全 国都有业务？在各加油站、加气站等区域是否也有使用？ 炬华科技（300360.SZ）10月22日在投资者互动平台表示，公司海外业务除欧洲市场外，还覆盖东南 亚、中亚、非洲等地区，目前没有投资海外生产基地。公司有符合国标、欧标、美标的各个规格充电桩 产品。具体数据请阅读相关定期报告。 （文章来源：每日经济新闻） ...

格隆汇10月22日丨炬华科技(300360.SZ)在投资者互动平台表示，公司海外业务除欧洲市场外，还覆盖 东南亚、中亚、非洲等地区，目前没有投资海外生产基地。公司有符合国标、欧标、美标的各个规格充 电桩产品。 ...

Core Viewpoint - On October 20, Juhua Technology experienced a slight increase in stock price by 0.39%, with a trading volume of 118 million yuan, indicating active market participation and interest in the company's shares [1]. Financing Summary - On October 20, Juhua Technology had a financing buy-in amount of 17.43 million yuan and a financing repayment of 24.04 million yuan, resulting in a net financing outflow of 6.61 million yuan [1]. - As of October 20, the total financing and securities lending balance for Juhua Technology was 453 million yuan, which represents 5.65% of its circulating market value, indicating a high level of financing activity compared to the past year [1]. - The company had a securities lending repayment of 0 shares and a securities lending sell-out of 800 shares on the same day, with a sell-out amount of 12,500 yuan, while the securities lending balance was 313,600 yuan, exceeding the 70th percentile level over the past year [1]. Business Overview - Juhua Technology, established on April 6, 2006, and listed on January 21, 2014, is based in Hangzhou, Zhejiang Province. The company specializes in smart metering and collection systems, smart power terminals and systems, IoT smart water meters, smart power distribution products and systems, smart charging equipment, IoT sensors and accessories, and comprehensive energy service solutions [2]. - The main revenue composition of Juhua Technology includes smart metering and collection systems (80.26%), IoT communications, sensors, and accessories (9.11%), smart power terminals and systems (5.11%), smart flow meters and systems (3.38%), smart power distribution products and systems (1.26%), and other sources (0.89%) [2]. Financial Performance - For the first half of 2025, Juhua Technology reported a revenue of 884 million yuan, reflecting a year-on-year decrease of 12.88%, while the net profit attributable to shareholders increased by 1.00% to 344 million yuan [2]. - Since its A-share listing, Juhua Technology has distributed a total of 1.157 billion yuan in dividends, with 664 million yuan distributed over the past three years [3]. Shareholder Information - As of September 30, the number of shareholders for Juhua Technology was 28,200, a decrease of 0.74% from the previous period, with an average of 17,727 circulating shares per person, which increased by 0.74% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited held 15.3705 million shares, a decrease of 3.3479 million shares from the previous period, while the Southern CSI 1000 ETF entered as a new shareholder with 3.3343 million shares [3].