Core Viewpoint - As of November 28, 2025, the number of shareholders for Huizhong Co., Ltd. (300371) is reported to be 10,740 [1] Company Summary - Huizhong Co., Ltd. has engaged with investors through an interactive platform, providing transparency regarding its shareholder count [1]

Group 1 - The company Huizhong Co., Ltd. reported that as of November 10, 2025, the number of shareholders is 10,978 [2]

Core Viewpoint - The company is currently executing product delivery for its Australian project contract and will advance the project schedule based on project requirements [1] Group 1 - The company has confirmed that the product delivery for the Australian project is still in progress [1] - The project schedule will be adjusted according to the specific needs of the project [1]

Core Viewpoint - The company is currently executing product delivery for its Australian project contract and will advance the project schedule based on project requirements [1] Group 1 - The company has confirmed that the product delivery for the Australian project is still in progress [1] - The project schedule will be adjusted according to the specific needs of the project [1]

Core Viewpoint - 汇中股份 is a leading company in the ultrasonic heat meter industry in China, with a strong full industry chain advantage and high product accuracy and stability [1] Group 1: Business Performance - In Q3 2025, 汇中股份 reported revenue of 345 million yuan, ranking 32nd among 61 peers, while the industry leader, 川仪股份, achieved revenue of 4.89 billion yuan [2] - The net profit for the same period was 71.02 million yuan, placing the company 22nd in the industry, with the top performer, 川仪股份, reporting a net profit of 469 million yuan [2] Group 2: Financial Ratios - 汇中股份 had a debt-to-asset ratio of 8.33% in Q3 2025, down from 9.32% year-on-year and significantly lower than the industry average of 27.43%, indicating strong solvency [3] - The gross profit margin for the same period was 49.17%, a decrease from 53.06% year-on-year but still above the industry average of 43.50% [3] Group 3: Executive Compensation - The chairman, 张力新, received a salary of 1.0852 million yuan in 2024, unchanged from the previous year [4] - The general manager, 冯大鹏, earned 414,400 yuan in 2024, also consistent with the prior year [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 4.13% to 11,200, while the average number of circulating A-shares held per account decreased by 3.97% to 12,000 [5] - In Q3 2025, the company achieved revenue of approximately 131 million yuan (up 7.22% year-on-year) and a net profit of about 28 million yuan (down 16.9% year-on-year) [5] - For the first three quarters of 2025, total revenue was 345 million yuan (up 30.98% year-on-year) and net profit was 70 million yuan (up 27.98% year-on-year) [5] Group 5: Future Outlook - 国投证券 projects that 汇中股份 will achieve revenues of 459 million, 546 million, and 604 million yuan from 2025 to 2027, with growth rates of 19%, 18.9%, and 10.8% respectively [5] - The expected net profits for the same period are 88 million, 113 million, and 130 million yuan, with growth rates of 52.2%, 28.3%, and 15% respectively [5]

Core Viewpoint - The company reported a mixed performance in Q3 2025, with revenue growth but a decline in net profit, highlighting the impact of international expansion and strategic investments on its long-term growth potential [1][2]. Financial Performance - In Q3 2025, the company achieved revenue of approximately 131 million yuan, representing a year-on-year increase of 7.22%, while the net profit attributable to shareholders was about 28 million yuan, down 16.9% year-on-year [1]. - For the first three quarters of 2025, the company reported revenue of 345 million yuan, up 30.98% year-on-year, and a net profit of 70 million yuan, an increase of 27.98% year-on-year [1]. - The net cash flow from operating activities reached 121 million yuan, a significant increase of 551.01% year-on-year, primarily due to increased sales receipts [1]. International Expansion - The company has been deepening its overseas market presence, with export sales becoming a crucial growth driver. In August 2024, it secured a contract worth over 130 million yuan for a water meter project in Australia [2]. - The establishment of a wholly-owned subsidiary in Australia, announced on September 2, 2025, with an investment of up to 20 million yuan, is expected to enhance brand recognition and service capabilities in the region, positively impacting long-term strategic development [1][2]. Investment Outlook - The company is projected to achieve revenues of 459 million yuan, 546 million yuan, and 604 million yuan for the years 2025 to 2027, with growth rates of 19%, 18.9%, and 10.8% respectively. Net profits are expected to be 88 million yuan, 113 million yuan, and 130 million yuan, with growth rates of 52.2%, 28.3%, and 15% respectively [3].

Investment Rating - The report maintains a "Buy-A" investment rating for the company [4][6]. Core Views - The company has shown significant improvement in operational capabilities, driven by exports, particularly in the Australian market [1][2]. - The establishment of a wholly-owned subsidiary in Australia is expected to enhance brand recognition and operational capacity in the region, contributing positively to long-term strategic development [3]. Financial Performance Summary - In Q3 2025, the company achieved revenue of approximately 131 million yuan, a year-on-year increase of 7.22%, while the net profit attributable to shareholders was about 28 million yuan, a decrease of 16.9% [1]. - For the first three quarters of 2025, the company reported revenue of 345 million yuan, up 30.98% year-on-year, and a net profit of 70 million yuan, an increase of 27.98% [2]. - The net cash flow from operating activities reached 121 million yuan, reflecting a substantial year-on-year growth of 551.01%, primarily due to increased sales collections [2]. Future Projections - Revenue projections for 2025 to 2027 are estimated at 459 million, 546 million, and 604 million yuan, with growth rates of 19%, 18.9%, and 10.8% respectively. Net profits are expected to be 88 million, 113 million, and 130 million yuan, with growth rates of 52.2%, 28.3%, and 15% respectively [4][9]. Market Data - As of October 29, 2025, the company's stock price was 12.95 yuan, with a target price set at 13.96 yuan for the next six months [6]. - The total market capitalization is approximately 2.61 billion yuan, with a circulating market capitalization of about 1.74 billion yuan [6]. Stock Performance - The company's stock has shown a relative return of -4.3% over the past month and -15.2% over the past three months, while the absolute return over the last 12 months is 27.7% [7].

Core Viewpoint - Huizhong Co., Ltd. (300371.SZ) reported a decline in institutional ownership in its Q3 2025 financial results, indicating a potential shift in investor sentiment [1] Institutional Ownership - As of October 27, 2025, there is one institutional investor holding Huizhong shares, with a total holding of 1.8031 million shares, representing 0.90% of the total share capital [1] - The institutional ownership ratio has decreased by 2.25 percentage points compared to the previous quarter [1] Public Fund Participation - In this reporting period, 64 public funds were not disclosed compared to the previous quarter, including notable funds such as CITIC Prudential Multi-Strategy Mixed (LOF) A, Jinyuan Shun'an Yuanqi Flexible Allocation Mixed, and others [1]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥131,395,544.01, representing a year-on-year increase of 7.22%[5] - The net profit attributable to shareholders decreased by 16.90% to ¥28,365,320.06, while the net profit after deducting non-recurring gains and losses was ¥26,613,953.62, down 13.17%[5] - The basic earnings per share for the period was ¥0.1424, a decrease of 16.92%[5] - Total operating revenue for the current period reached ¥344,774,910.16, a significant increase of 30.9% compared to ¥263,232,631.03 in the previous period[23] - Net profit for the current period was ¥71,023,958.14, representing a 30.9% increase from ¥54,234,006.29 in the previous period[24] - Earnings per share (EPS) for the current period was ¥0.3511, compared to ¥0.2739 in the previous period, reflecting a growth of 28.2%[24] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,286,274,634.95, an increase of 4.90% compared to the end of the previous year[5] - The company's total liabilities increased to ¥107,142,365.21 from ¥103,763,822.17, marking a rise of 3.3%[21] - Total equity attributable to shareholders rose to ¥1,171,772,861.33, up from ¥1,116,049,143.60, reflecting a growth of 5.0%[21] - The total assets of the company reached ¥1,286,274,634.95, up from ¥1,226,228,491.18, reflecting overall growth in the asset base[20] Cash Flow - The cash flow from operating activities showed a significant increase of 551.01%, totaling ¥121,451,506.92[5] - Operating cash flow increased significantly to ¥121,451,506.92, up 551.01% from ¥18,655,888.14, primarily due to a year-on-year increase in sales receipts[14] - Cash flow from operating activities generated a net amount of ¥121,451,506.92, a substantial increase from ¥18,655,888.14 in the prior period[26] - Cash inflow from investment activities totaled ¥359,762,281.10, compared to ¥211,656,850.69 in the previous period, indicating a growth of 69.9%[26] - Net cash flow from investing activities decreased to -¥95,820,156.00, a decline of 436.80% compared to -¥17,850,238.64, mainly due to changes in the purchase and redemption of financial products[14] - Total cash inflow from financing activities was $9.73 million, while cash outflow was $28.87 million, resulting in a net cash flow of -$19.14 million, an improvement from -$41.53 million previously[27] Operational Efficiency - The company's gross profit margin was impacted by a 38.55% increase in operating costs, totaling ¥175,259,740.05, attributed to increased sales volume[13] - The investment income decreased by 48.04% to ¥815,432.58, mainly due to reduced returns from wealth management products[13] - The company reported a significant increase in research and development expenses, which reached ¥26,608,154.76, compared to ¥23,581,190.63 in the previous period, an increase of 12.9%[23] - The accounts receivable increased by 142.60% to ¥4,963,530.30, primarily due to an increase in commercial acceptance bills[11] - Inventory decreased to ¥182,409,303.29 from ¥217,216,235.60, indicating better inventory management or reduced production[19] Shareholder Information - The number of common shareholders at the end of the reporting period was 11,216, with the largest shareholder holding 37.95% of the shares[16] Other Considerations - The financial report for the third quarter was not audited, which may affect the reliability of the reported figures[28] - The company reported a significant increase in cash flow from operations, which is a positive indicator for future performance and investment potential[14] - The company recorded a decrease in deferred income from ¥10,572,500.00 to ¥9,215,000.00, a decline of 12.9%[21] - The net increase in cash and cash equivalents was $7.66 million, contrasting with a decrease of -$40.51 million in the prior period[27] - The ending balance of cash and cash equivalents was $63.63 million, up from $29.49 million at the end of the previous period[27]

证券代码：300371 证券简称：汇中股份 公告编号：2025-068 汇中仪表股份有限公司 关于举行 2025 年第三季度报告网上业绩说明会的公告 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。 2025年10月28日 为充分尊重投资者、提升交流的针对性，现就公司2025年第三季度业绩说明 会提前向投资者公开征集问题，投资者可访问 http://irm.cninfo.com.cn，进入问 题征集专题页面。 出席本次年度业绩说明会的人员有：公司董事、总经理、财务总监冯大鹏先 生、董事会秘书李俊杰先生、独立董事王富强先生。 欢迎广大投资者积极参与。 特此公告。 汇中仪表股份有限公司 董事会 汇中仪表股份有限公司（以下简称"公司"）《2025年第三季度报告全文》于 2025年10月28日在巨潮资讯网（www.cninfo.com.cn）披露。为方便投资者进一步 了解公司经营情况及未来发展规划，公司将于2025年10月31日（星期五）下午 15:00-16:30在深圳证券交易所互动易平台云访谈栏目（ http://irm.cninfo.com.cn） 举办业绩说明会 ...