Core Viewpoint - The battery recycling concept continues to gain momentum, with stocks such as Fulongma hitting the daily limit, and companies like Disenli, Chuangjiang New Materials, Changjiu Logistics, Boschke, Ningbo Jingda, and Qidi Environment also experiencing upward movement [1] Group 1 - The strong performance of Fulongma indicates a significant interest in the battery recycling sector [1] - Other companies in the battery recycling space are also benefiting from this trend, showcasing a broader market enthusiasm [1]

Core Insights - A total of 13 companies released their Q3 2025 financial reports on October 17, with 10 companies reporting year-on-year profit growth and 11 companies showing revenue growth [1] Company Performance Summary - **仕佳光子**: Reported earnings per share of 0.6631, net profit of 29,971.78 million, a year-on-year increase of 727.74%, and revenue of 156,043.74 million, up 113.96% [1] - **华东数控**: Earnings per share of 0.0800, net profit of 2,312.18 million, a year-on-year increase of 151.78%, but revenue decreased by 3.21% to 24,883.19 million [1] - ***ST聆达**: Reported a loss with earnings per share of -0.4780, net loss of 12,791.70 million, but revenue increased by 83.47% to 8,909.23 million [1] - **藏格矿业**: Earnings per share of 1.7566, net profit of 275,080.14 million, a year-on-year increase of 47.26%, and revenue of 240,144.68 million, up 3.35% [1] - **春风动力**: Earnings per share of 9.2900, net profit of 141,536.95 million, a year-on-year increase of 30.89%, and revenue of 1,489,633.24 million, up 30.10% [1] - **福耀玻璃**: Earnings per share of 2.7100, net profit of 706,385.42 million, a year-on-year increase of 28.93%, and revenue of 3,330,190.79 million, up 17.62% [1] - **民士达**: Earnings per share of 0.6200, net profit of 9,117.17 million, a year-on-year increase of 28.88%, and revenue of 34,335.35 million, up 21.77% [1] - **天安新材**: Earnings per share of 0.3240, net profit of 9,753.97 million, a year-on-year increase of 21.47%, and revenue of 227,340.62 million, up 3.47% [1] - **国邦医药**: Earnings per share of 1.2100, net profit of 67,024.26 million, a year-on-year increase of 15.78%, and revenue of 446,988.44 million, up 1.17% [1] - **佛燃能源**: Earnings per share of 0.3200, net profit of 49,030.67 million, a year-on-year increase of 6.07%, and revenue of 2,350,147.41 million, up 5.38% [1] - **康华生物**: Earnings per share of 1.4553, net profit of 18,911.07 million, a year-on-year decrease of 53.41%, and revenue decreased by 20.78% to 84,006.26 million [1] - **茂硕电源**: Reported a loss with earnings per share of -0.1624, net loss of 5,792.09 million, and revenue increased by 2.95% to 94,519.57 million [1] - **博世科**: Reported a loss with earnings per share of -0.4000, net loss of 21,224.60 million, but revenue increased by 27.10% to 151,235.47 million [1]

Core Viewpoint - Boschke reported significant revenue growth in the first three quarters of 2025, but also faced a drastic decline in net profit, indicating financial distress despite increased sales [1][2]. Financial Performance - The company achieved a revenue of approximately 1.512 billion yuan in the first three quarters, representing a year-on-year increase of 27.1% [2]. - In Q3 alone, revenue grew by 60.61% to 260.42 million yuan, while net profit plummeted by 97.59% to -165.04 million yuan [2]. - The net profit attributable to shareholders for the first three quarters was approximately -212.25 million yuan, a staggering decline of 270.83% compared to the previous year [2]. Cash Flow and Debt Situation - Boschke reported a negative net cash flow from operating activities of -35.86 million yuan, a significant drop from 163 million yuan in the same period last year [2]. - The company's debt-to-asset ratio reached 86.53%, an increase of 11.65% year-on-year, indicating heightened financial leverage and potential liquidity issues [2]. Financing Activities - To improve financing efficiency and meet liquidity needs, Boschke plans to engage in financing loan activities with related parties, with a new financing limit of up to 500 million yuan [3]. - The financing will be used for working capital, project investments, and loan repayments, with collateral measures including pledging assets and subsidiary shares [3]. - Prior to this, Boschke provided a receivables pledge to secure a loan from a bank, with the restricted assets accounting for 30.18% of the company's audited total assets for 2024 [3][4]. Historical Losses - Boschke has been experiencing continuous losses, with net losses reported at 515 million yuan in 2021, 448 million yuan in 2022, 216 million yuan in 2023, and 865 million yuan in 2024 [5]. - As of October 16, the company's stock price decreased by 1.15%, closing at 5.14 yuan per share, with a total market capitalization of 2.744 billion yuan [5].

Core Viewpoint - Boschke (300422) reported a significant increase in revenue for Q3 2025, but faced a substantial decline in net profit [1] Financial Performance - The company achieved an operating income of 260 million yuan in Q3 2025, representing a year-on-year growth of 60.61% [1] - The net profit for the same period was -165 million yuan, indicating a year-on-year decrease of 97.59% [1]

博览世界 科技为先 证券代码：300422 证券简称：博世科 公告编号：2025-101 广西博世科环保科技股份有限公司 关于拟新增与关联方开展融资业务并提供增信措施 暨关联交易的公告 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。 特别提示： 1、广西博世科环保科技股份有限公司（以下简称"公司"）及子公司本次 拟新增与广西北港金控投资有限公司（以下简称"北港金投"）及其具备相关融 资经营业务许可资质的下属子公司开展融资贷款业务构成关联交易，本次关联交 易需遵循国有资产监督管理相关的法律法规及交易各方履行内部审批程序后方 可实施，本次关联交易事项尚需提交公司股东会审议； 2、本次关联交易事项不构成《上市公司重大资产重组管理办法》规定的重 大资产重组，无须经过有关部门批准； 3、本次关联交易用于补充公司及子公司流动资金、项目投资建设、归还贷 款等与公司日常经营相关的事项，有利于提高融资效率，拓宽融资渠道，满足公 司及子公司日常营运资金需求。 公司于 2025 年 10 月 16 日召开第七届董事会第三次会议，审议通过《关于 拟新增与关联方开展融资业务并提供增信措 ...

Group 1 - The company Boschke (SZ 300422) announced on October 16 that its seventh third board meeting will be held on October 16, 2025, in Nanning, Guangxi, combining on-site and communication methods [1] - The meeting will review documents including the proposal for the sixth temporary shareholders' meeting of 2025 [1] - For the first half of 2025, Boschke's revenue composition is 100% from the environmental protection industry [1] Group 2 - As of the report, Boschke's market capitalization is 2.7 billion yuan [1]

Group 1 - The company Boschke reported a revenue of approximately 1.512 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 27.1% [1] - The net profit attributable to shareholders of the listed company was a loss of approximately 212 million yuan [1] - The basic earnings per share showed a loss of 0.4 yuan [1] Group 2 - As of the report date, Boschke's market capitalization was 2.7 billion yuan [1]

Core Insights - Boschke (300422.SZ) reported a revenue of 1.512 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 27.10% [1] - The company recorded a net loss attributable to shareholders of 212 million yuan [1] - The net loss attributable to shareholders, excluding non-recurring gains and losses, was 223 million yuan [1] - The basic loss per share was 0.4 yuan [1]

Core Insights - Boschke (300422.SZ) reported a revenue of 1.512 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 27.10% [1] - The company recorded a net loss attributable to shareholders of 212 million yuan [1] - The net loss attributable to shareholders, excluding non-recurring gains and losses, was 223 million yuan [1] - The basic loss per share was 0.4 yuan [1]

前次募集资金使用情况鉴证报告 广西博世科环保科技股份有限公司 容诚专字[2025]230Z2149 号 容诚会计师事务所(特殊普通合伙) 中国·北京 目 录 容诚会计师事务所（特殊普通合伙） 总所：北京市西城区阜成门外大街 22 号 1 幢 10 层 1001-1 至 1001-26 (100037) TEL:010-6600 1391 FAX:010-6600 1392 E-mail:bj@rsmchina.com.cn https://www.rsm.global/china/ 前次募集资金使用情况鉴证报告 容诚专字[2025]230Z2149 号 广西博世科环保科技股份有限公司全体股东： 我们审核了后附的广西博世科环保科技股份有限公司（以下简称博世科）董 事会编制的截至 2025 年 9 月 30 日止的《前次募集资金使用情况专项报告》。 一、 对报告使用者和使用目的的限定 本鉴证报告仅供博世科为申请向特定对象发行股票之目的使用，不得用作任 何其他目的。我们同意将本鉴证报告作为博世科申请向特定对象发行股票所必备 的文件，随其他申报材料一起上报。 二、 董事会的责任 按照中国证券监督管理委员会发布的《监管 ...