Core Viewpoint - The company emphasizes the importance of deep integration of "production, education, research, and application" and is advancing collaborative development of lightweight materials and equipment through its global innovation center [1] Group 1: Innovation and Development - The company is systematically promoting the synergy of lightweight materials and equipment through its Metal Materials Forming Research Center [1] - The company is enhancing its innovation capabilities across the entire chain from materials to processes to equipment [1] Group 2: Competitive Strategy - In response to increasing competition, the company adopts a dual-driven strategy of "technological depth + service elevation" [1] - The company continues to iterate its UN-MGⅡ series models through the "Three Generations" R&D system, focusing on leading aspects such as thick-walled forming, high density, and green processes [1] Group 3: Service Enhancement - The company is deepening its "semi-solid on-site management" and full lifecycle services for equipment, utilizing data-driven proactive maintenance to enhance overall efficiency of customer production lines [1] Group 4: Market Positioning - The company aims to consolidate and expand its leading advantage in the new wave of lightweight trends [1]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 35.19 RMB [7][5]. Core Insights - The company reported Q3 revenue of 1.559 billion RMB, a year-over-year increase of 19.62% and a quarter-over-quarter increase of 0.00%. The net profit attributable to the parent company was 220 million RMB, up 21.24% year-over-year and 3.56% quarter-over-quarter [1]. - The company has seen a slight increase in revenue growth, with Q3 revenue growth at 19.6%, compared to 10.2% in Q2. The injection molding machine exports have achieved a significant milestone with over 3,500 units delivered to the factory in Gujarat, India [2]. - The gross margin for Q3 was 33.27%, and the net margin was 14.18%, with slight declines attributed to accounting policy adjustments and increased industry competition [3]. - The company plans to invest at least 374 million RMB to enhance production capacity and order response speed, which is expected to strengthen its core competitiveness and overall profitability [4]. - The forecast for net profit attributable to the parent company for 2025-2027 is 718 million, 846 million, and 988 million RMB, respectively, with a compound annual growth rate of 17.59% [5]. Summary by Sections Financial Performance - Q3 revenue reached 1.559 billion RMB, with a year-over-year growth of 19.62% and a quarter-over-quarter growth of 0.00%. For the first three quarters of 2025, total revenue was 4.306 billion RMB, reflecting a year-over-year increase of 17.21% [1]. - The company’s Q3 gross margin was 33.27%, and net margin was 14.18%, with year-over-year declines of 1.74 and 0.18 percentage points, respectively [3]. Market Expansion - The company has made significant breakthroughs in overseas markets and with major clients, particularly in the magnesium alloy sector, which is expected to see increased demand due to its lightweight and cost advantages [2]. Investment and Growth Strategy - The company is set to invest at least 374 million RMB to enhance its production capabilities, which will support future growth and improve its competitive edge [4]. Profit Forecast and Valuation - The projected net profits for 2025, 2026, and 2027 are 718 million, 846 million, and 988 million RMB, respectively, with a compound annual growth rate of 17.59% [5]. The target price has been adjusted to 35.19 RMB, reflecting a price-to-earnings ratio of 23 for 2025 [5].

Core Insights - The report indicates that as of October 28, 2025, 28 institutional investors hold a total of 193 million shares of Yizhiming, accounting for 41.26% of the total share capital [1] - The top ten institutional investors collectively hold 40.93% of the shares, with an increase of 1.64 percentage points compared to the previous quarter [1] Institutional Holdings - The top ten institutional investors include companies such as Jiazhuo Holdings Limited, Hong Kong Central Clearing Limited, and Guotou Securities Co., Ltd [1] - The report highlights a total of five public funds that increased their holdings, with a combined increase of 0.11% [2] - Conversely, five public funds reduced their holdings, resulting in a decrease of 0.86% [2] New and Departing Funds - Thirteen new public funds were disclosed during this period, including CITIC Securities Rotation Mixed A and CITIC Securities Selected Mixed A [2] - A total of 136 public funds were not disclosed in this period, including Huaxia CSI 1000 ETF and GF Manufacturing Selection Mixed A [2] Foreign Investment - One new foreign institution, Hong Kong Central Clearing Limited, was disclosed in this period [2]

Core Insights - The company reported a total revenue of 4.306 billion yuan and a net profit attributable to shareholders of 564 million yuan for Q3 2025 [1] - The operating cash flow showed a net inflow of 132 million yuan [1] Financial Performance - The latest debt-to-asset ratio is 61.60%, ranking 97th among disclosed peers, with an increase of 0.16 percentage points from the previous quarter and a rise of 5.67 percentage points year-on-year [3] - The gross profit margin is 31.87%, down by 2.23 percentage points compared to the same period last year [3] - The return on equity (ROE) stands at 18.09% [3] - The diluted earnings per share (EPS) is 1.23 yuan [3] - The total asset turnover ratio is 0.56 times, a decrease of 0.01 times year-on-year, reflecting a decline of 1.94% [3] - The inventory turnover ratio is 1.51 times [3] Shareholder Structure - The number of shareholders is 30,400, with the top ten shareholders holding a total of 211 million shares, accounting for 44.96% of the total share capital [3] - The top shareholders include: - Jiazhuo Holdings Limited: 29.3% - Hong Kong Central Clearing Limited: 5.45% - Guotou Securities Co., Ltd.: 1.74% - Zhen Ronghui: 1.68% - Liang Jinghua: 1.52% - Guozheng Asset Management: 1.20% - Peng Huiping: 1.17% - Zhang Tao: 1.11% - Gao Chao: 0.89% - Liao Changqing: 0.88% [3]

Company Performance - Yizhiming (SZ 300415) reported Q3 performance with revenue of approximately 4.306 billion yuan, an increase of 17.21% year-on-year [1] - The net profit attributable to shareholders was about 564 million yuan, reflecting a year-on-year increase of 17.45% [1] - Basic earnings per share reached 1.23 yuan, up 19.42% compared to the previous year [1] Market Context - As of the report, Yizhiming's market capitalization stands at 11.3 billion yuan [2] - The A-share market has surpassed 4000 points, indicating a significant market resurgence after a decade of stagnation, with technology leading the market's new "slow bull" trend [2]

Group 1 - The core viewpoint of the article highlights that Yizhiming (SZ 300415) held its 11th meeting of the 5th Board of Directors on October 27, 2025, to discuss the proposal for the 2025 third extraordinary general meeting of shareholders [1] - Yizhiming's revenue composition for the year 2024 is as follows: Other industries 29.01%, Automotive 26.31%, 3C products 17.89%, Home appliances 6.97%, Daily necessities 6.4%, and Packaging 5.78% [1] - As of the report date, Yizhiming's market capitalization stands at 11.3 billion yuan [1] Group 2 - The A-share market has surpassed 4000 points, marking a significant resurgence after a decade of stagnation, with technology leading the market transformation and a new "slow bull" pattern emerging [1]

伊之密股份有限公司 对外担保管理制度 二〇二五年十月 伊之密股份有限公司 对外担保管理制度 伊之密股份有限公司 对外担保管理制度 第一章 总则 第一条 为了保护投资者的合法权益，规范伊之密股份有限公司（以下简称"公司"） 对外担保行为，有效防范公司对外担保风险，确保公司资产安全，根据《中华人民共和 国公司法》《中华人民共和国证券法》《上市公司监管指引第 8 号—上市公司资金往 来、对外担保的监管要求》《深圳证券交易所创业板股票上市规则》（以下简称"《上 市规则》"）、《深圳证券交易所上市公司自律监管指引第 2 号—创业板上市公司规 范运作》（以下简称"《规范运作指引》"）等法律、法规、规范性文件及《伊之密股 份有限公司章程》（以下简称"《公司章程》"）等有关规定，结合公司的实际情况， 特制定本制度。 第二条 本制度所称对外担保是指公司为他人提供的担保，包括公司对控股子公司 的担保。公司及公司控股子公司的对外担保总额，是指包括公司对控股子公司在内的公 司对外担保总额与公司控股子公司对外担保总额之和。担保形式包括保证、抵押、质押 或者其他担保方式。 第三条 公司对外担保实行统一管理，非经公司董事会或者股东会批准， ...

伊之密股份有限公司 董事和高级管理人员所持公司股份及其变动管理制度 二〇二五年十月 伊之密股份有限公司 董事和高级管理人员所持公司股份及其变动管理制度 伊之密股份有限公司 董事和高级管理人员所持公司股份及其变动管理制度 第一章 总则 第一条 为加强对公司董事和高级管理人员所持公司股份及其变动的管理， 进一步明确办理程序，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东减持股份管 理暂行办法》《上市公司董事和高级管理人员所持公司股份及其变动管理规则》 《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监管指 引第 2 号—创业板上市公司规范运作》《深圳证券交易所上市公司自律监管指引 第 10 号—股份变动管理》《深圳证券交易所上市公司自律监管指引第 18 号— 股东及董事、高级管理人员减持股份》等有关法律法规、规范性文件以及《伊之 密股份有限公司章程》（以下简称"《公司章程》"）等有关规定，特制定本制度。 第二条 公司董事和高级管理人员在买卖公司股票及其衍生品种前，应知悉 《公司法》、《证券法》等法律、法规关于内幕交易、操 ...

伊之密股份有限公司 重大信息内部报告制度 二〇二五年十月 伊之密股份有限公司 重大信息内部报告制度 伊之密股份有限公司 重大信息内部报告制度 第一章 总 则 第一条 为了规范公司的重大信息内部报告工作，确保及时地披露所有对本 公司股票交易价格可能产生较大影响的信息，根据《中华人民共和国公司法》《中 华人民共和国证券法》《上市公司信息披露管理办法》《深圳证券交易所创业板 股票上市规则》等法律法规、规范性文件及《伊之密股份有限公司章程》（以下 简称"《公司章程》"）和《伊之密股份有限公司信息披露管理制度》的相关规定， 并结合公司实际情况，制定本制度。 第二条 公司重大信息内部报告制度是指可能对公司股票及其衍生品种的交 易价格产生较大影响的情形或者事件出现时，按照本制度相关规定负有报告义务 的报告人应及时将相关信息向公司报告的制度。 本制度所指"重大信息"是指公司和相关信息披露义务人应当披露的所有可 能对公司股票及其衍生品种交易价格产生较大影响或者对投资决策有较大影响 的事项。 第三条 公司董事会秘书办公室为公司信息披露工作的常设机构，信息报告 人包括：（一）公司董事、高级管理人员、各部门负责人；（二）公司所属子公 ...

伊之密股份有限公司 累积投票制实施细则 $$\Xi{\cal O}\,{\underline{{{-\,}}}}\,\Xi\,\rlap{/}\,\Xi+\rlap{/}\,\Xi$$ 伊之密股份有限公司 累积投票制实施细则 伊之密股份有限公司 累积投票制实施细则 第一条 为进一步完善本公司的法人治理结构，保证股东充分行使权利，维 护中小股东利益，规范公司选举董事行为，根据《中华人民共和国公司法》（以 下简称"《公司法》"）、《中华人民共和国证券法》、《上市公司治理准则》、《深圳 证券交易所上市公司自律监管指引第 2 号—创业板上市公司规范运作》等法律、 行政法规、规范性文件及《伊之密股份有限公司章程》（以下简称"《公司章程》"） 等有关规定，制定本细则。 第二条 本细则所称"董事"包括非独立董事和独立董事。 第三条 本细则所指的累积投票制，是指股东会在选举两名以上的董事时采 用的一种投票方式。即公司选举董事时，每位出席股东拥有的投票权数等于其所 持有的股份数乘以应选董事人数的乘积数，股东可以将其拥有的全部投票权数集 中投向某一位董事候选人，也可以任意分配给其有权选举的所有董事候选人，最 后按得票多少决定当选 ...