金元顺安元启灵活配置混合（004685）成立日期2017年11月14日，最新规模14.32亿。今年以来收益 46.44%，同类排名1013/8138；近一年收益52.49%，同类排名721/8055；成立以来收益583.91%。 金元顺安元启灵活配置混合（004685）基金经理为缪玮彬。 截至发稿，缪玮彬累计任职时间8年341天，现任基金资产总规模14.32亿元，任职期间最佳基金回报 589.61%， 任职期间最差基金回报-28.79%。 11月19日，昇辉科技涨5.6%，截至发稿，报8.48元/股，成交3387.26万元，换手率1.23%，总市值42.19 亿元。 资料显示，昇辉智能科技股份有限公司位于山东省烟台莱阳市龙门西路256号，成立日期2003年12月11 日，上市日期2015年2月17日，公司主营业务涉及电气成套设备、LED照明与亮化、智慧城市相关产品 的研发、设计、生产、销售、安装和售后服务。主营业务收入构成为：高低压成套设备75.48%，智慧 城市综合服务14.49%，新能源10.02%，新材料0.01%。 从昇辉科技十大流通股东角度 数据显示，金元顺安基金旗下1只基金位居昇辉科技十大流通股东 ...

Core Viewpoint - The company, Shenghui Technology, is focusing on multiple business segments including electrical equipment, smart city services, new energy, and new materials, with a strategic emphasis on hydrogen energy and diversified development [2]. Group 1: Business Segments - The main business of the company includes electrical complete equipment, smart city comprehensive services, new energy business, and new materials [2]. - In the electrical complete equipment sector, the company provides high and low voltage complete equipment, widely used in industrial and civil construction, offering stable and reliable power solutions [2]. - The smart city services focus on applications such as smart lighting, smart policing, and smart transportation [2]. Group 2: Strategic Focus - The new energy business is a key area for the company's strategic transformation, primarily concentrating on the hydrogen energy sector, which includes the production of upstream hydrogen generation equipment and the operation of downstream hydrogen energy vehicles [2]. - The company is actively expanding in the new energy sector, laying out projects in energy storage and photovoltaics [2]. - In the new materials field, the company is launching innovative products to promote diversified business development, aiming to achieve the "smart + dual carbon" strategic goal [2].

Core Insights - Shenghui Technology, established in December 2003 and listed on the Shenzhen Stock Exchange in February 2015, is a competitive player in the domestic power transmission and transformation equipment sector, focusing on electrical equipment and related products with a full industry chain advantage [1] Group 1: Business Performance - For Q3 2025, Shenghui Technology reported revenue of 637 million yuan, ranking 24th out of 29 in the industry, while the industry leader, TBEA, achieved 72.918 billion yuan [2] - The net profit for the same period was 4.687 million yuan, placing the company 25th in the industry, with TBEA leading at 5.735 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 50.46%, down from 55.97% year-on-year and below the industry average of 50.78% [3] - The gross profit margin for the same period was 17.43%, lower than the previous year's 18.80% and below the industry average of 22.99% [3] Group 3: Executive Compensation - Chairman Li Zhaoqiang's compensation for 2024 was 3.2147 million yuan, an increase of 30,700 yuan from 2023 [4] - General Manager Ji Faqing received 1.9576 million yuan in 2024, up 114,000 yuan from the previous year [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 11.31% to 22,300, while the average number of circulating A-shares held per shareholder decreased by 10.20% to 15,000 [5] - Among the top ten circulating shareholders, Jinyuan Shun'an Yuanqi Flexible Allocation Mixed Fund (004685) was the ninth largest, holding 1.95 million shares as a new shareholder [5]

Group 1 - The core viewpoint of the news is that Shenghui Technology's stock has increased by 5.22%, reaching 8.07 CNY per share, with a trading volume of 1.29 billion CNY and a turnover rate of 5.03%, resulting in a total market capitalization of 40.15 billion CNY [1] - Shenghui Intelligent Technology Co., Ltd. is located in Yantai, Shandong Province, established on December 11, 2003, and listed on February 17, 2015. The company's main business includes research, design, production, sales, installation, and after-sales service of electrical complete equipment, LED lighting and beautification, and smart city-related products [1] - The revenue composition of Shenghui Technology is as follows: 75.48% from high and low voltage complete equipment, 14.49% from smart city comprehensive services, 10.02% from new energy, and 0.01% from new materials [1] Group 2 - From the perspective of the top ten circulating shareholders of Shenghui Technology, a fund under Jinyuan Shun'an Fund ranks among the top ten shareholders. The Jinyuan Shun'an Yuanqi Flexible Allocation Mixed Fund (004685) entered the top ten circulating shareholders in the third quarter, holding 1.95 million shares, accounting for 0.58% of the circulating shares, with an estimated floating profit of about 780,000 CNY today [2] - The Jinyuan Shun'an Yuanqi Flexible Allocation Mixed Fund (004685) was established on November 14, 2017, with a latest scale of 1.432 billion CNY. Year-to-date returns are 37.62%, ranking 2181 out of 8155 in its category; the one-year return is 42.35%, ranking 1429 out of 8031; and since inception, the return is 542.69% [2]

Core Insights - Shenghui Technology (300423.SZ) released its Q3 2025 report on October 29, 2025, indicating a total of 3 institutional investors holding shares, amounting to 3.4763 million shares, which represents 0.70% of the total share capital [1] Institutional Holdings - The institutional investors include China Minsheng Bank Co., Ltd. - Jinyuan Shun'an Yuanqi Flexible Allocation Mixed Securities Investment Fund, MORGAN STANLEY & CO. INTERNATIONAL PLC, and Tongtai CSI 300 Quantitative Enhancement A, with a combined institutional holding ratio increase of 0.41 percentage points compared to the previous quarter [1] Public Fund Disclosures - In this period, 2 new public funds were disclosed compared to the previous quarter, including Jinyuan Shun'an Yuanqi Flexible Allocation Mixed and Tongtai CSI 300 Quantitative Enhancement A [1] - A total of 19 public funds were not disclosed in this period compared to the last quarter, including Guojin Quantitative Multi-Factor A, Guojin Quantitative Selected A, E Fund CSI Wan De Mergers and Acquisitions Index (LOF), CSI 2000, and Hai Fu Tong Growth Enterprise Board Enhancement C [1]

Company Performance - Shenghui Technology (SZ 300423) reported Q3 performance with revenue of approximately 637 million yuan, a year-on-year decrease of 39.64% [1] - The net profit attributable to shareholders was about 6.47 million yuan, down 60.27% year-on-year [1] - Basic earnings per share were 0.013 yuan, reflecting a decrease of 60.24% compared to the previous year [1] Market Context - The A-share market has surpassed 4000 points, marking a significant resurgence after a decade of stagnation [1] - The technology sector is leading the market's transformation, indicating the emergence of a "slow bull" market pattern [1]

Core Insights - Shenghui Intelligent Technology Co., Ltd. reported a revenue of 637 million yuan for the first three quarters of 2025, with a net profit attributable to shareholders of 26.576 million yuan, marking a year-on-year increase of 51.15% [1] Financial Performance - The company achieved an operating income of 637 million yuan in the first three quarters of 2025 [1] - The net profit, excluding non-recurring gains and losses, was 26.576 million yuan, reflecting a growth of 51.15% compared to the previous year [1] Acquisition Progress - Shenghui Technology announced the progress of its acquisition of Hep Energy Environmental Technology Co., Ltd., indicating that the transaction's timeline has been delayed [1] - The company stated that it will not be able to issue a notice for a shareholders' meeting within six months following the board resolution announcement due to the slower-than-expected progress [1] - The acquisition aims to integrate quality assets and expand Shenghui Technology's business into the field of flexible transformation of thermal power, enhancing its competitiveness and overall profitability in the new energy storage sector [1]

证券代码：300423 证券简称：昇辉科技 公告编号：2025-048 昇辉智能科技股份有限公司 关于披露发行股份购买资产并募集配套资金暨关联交易预案后的进 展公告暨未发出召开股东会通知的专项说明 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。 重要风险提示： 1、昇辉智能科技股份有限公司（以下简称"公司"）于 2025 年 4 月 28 日披 露的《昇辉智能科技股份有限公司发行股份购买资产并募集配套资金暨关联交易 预案》（以下简称"本次交易预案"）及其摘要中已对本次交易涉及的有关风险因 素及尚需履行的审批程序进行了详细说明，提请广大投资者关注后续进展公告并 注意投资风险。 2、自本次交易预案披露以来，公司及相关各方一直在积极推进本次交易的 各项工作，但由于本次交易涉及的相关工作进度晚于预期，公司预计无法在首次 审议本次交易的董事会决议公告日后 6 个月内（即在 2025 年 10 月 28 日前）发 出召开股东会的通知。 3、经交易各方协商，公司将继续推进本次交易，并根据中国证监会和深圳 证券交易所的相关规定及时履行本次交易的后续审批和信息披露程序。 一、本 ...

Core Insights - The company reported a significant decline in revenue and net profit for the third quarter and the first three quarters of the year [1] Financial Performance - Third quarter revenue was 138 million, a year-on-year decrease of 67.37% [1] - Third quarter net profit was 2.097 million, a year-on-year decrease of 51.93% [1] - Revenue for the first three quarters was 637 million, a year-on-year decrease of 39.64% [1] - Net profit for the first three quarters was 6.469 million, a year-on-year decrease of 60.27% [1]

Financial Performance - The company's revenue for Q3 2025 was ¥138,272,000, a decrease of 67.37% compared to the same period last year, and a decline of 39.64% year-to-date[5] - Net profit attributable to shareholders was ¥2,096,957, a drop of 51.93% year-on-year, and a decrease of 60.27% year-to-date[5] - Basic earnings per share decreased by 52.27% to ¥0.0042, while diluted earnings per share also fell by 52.27% to ¥0.0042[5] - Total operating revenue for the current period is ¥637,260,867.33, a decrease of 39.6% compared to ¥1,055,840,040.71 in the previous period[20] - Net profit for the current period is ¥4,686,906.59, a decline of 45.3% from ¥8,561,835.61 in the previous period[21] - Other comprehensive income after tax for the current period is -¥4,439,112.94, compared to ¥11,918,088.86 in the previous period[21] Cash Flow - The net cash flow from operating activities for the current period was ¥17,278,420, representing an 88.13% increase compared to the previous year[5] - The net cash flow from operating activities is -¥17,278,420.76, an improvement from -¥145,541,910.17 in the previous period[22] - Cash and cash equivalents decreased by 62.97% to ¥130,072,614.54 due to reduced collections[11] - Cash inflow from financing activities totaled $166,293,800, compared to $112,455,550.87 in the previous period, representing an increase of approximately 47.8%[23] - Cash outflow from financing activities amounted to $170,116,973.05, up from $85,959,083.76, indicating a rise of about 97.5%[23] - The net cash flow from financing activities was negative at -$3,823,173.05, contrasting with a positive net cash flow of $26,496,467.11 in the prior period[23] - The ending balance of cash and cash equivalents decreased to $36,524,095.98 from $238,923,069.13, reflecting a decline of approximately 84.7%[23] - The company’s cash and cash equivalents saw a net decrease of $219,531,535.11 during the period[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,709,432,355.32, down 4.78% from the end of the previous year[5] - Current assets decreased from CNY 1,945,162,263.83 to CNY 1,699,667,338.13, reflecting a decline of approximately 12.6%[18] - Total liabilities decreased from CNY 1,504,892,014.07 to CNY 1,367,169,900.35, a decline of approximately 9.1%[19] - Current liabilities decreased from CNY 1,475,223,069.01 to CNY 1,340,447,778.22, reflecting a reduction of about 9.1%[19] - Non-current assets increased from CNY 900,397,387.52 to CNY 1,009,765,017.19, an increase of approximately 12.1%[19] - The company's goodwill increased from CNY 16,539,968.49 to CNY 19,188,984.81, a rise of about 15.9%[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 22,284[14] - The top shareholder, Li Zhaoqiang, holds 23.15% of the shares, totaling 115,194,849 shares[14] Investment Activities - Investment activities generated a net cash outflow of ¥198,429,941.30, a 268.66% increase compared to the previous period, driven by increased equity investments[12] - The cash outflow from investment activities is -¥198,429,941.30, worsening from -¥53,824,981.71 in the previous period[22] Expenses - Operating revenue fell by 39.64% to ¥637,260,867.33, primarily impacted by the performance of major clients and a decline in product demand[11] - Research and development expenses decreased by 38.04% to ¥17,099,130.64, indicating reduced investment in R&D[11] - The company reported a significant increase in credit impairment losses, up 191.55% to ¥39,625,975.19, due to the reversal of bad debt provisions[11] - The company’s financial expenses surged by 146.16% to ¥4,608,201.75, primarily due to decreased interest income[11] Accounting Changes - The company implemented a change in accounting policy effective October 1, 2024, affecting the recognition of certain liabilities[6] - Non-recurring gains and losses for the current period totaled -¥3,832,901.47, with significant contributions from asset disposal losses and government subsidies[8] - The company reported a significant increase in non-recurring profit from the disposal of non-current assets, amounting to -¥1,322,667.82 for the current period[8] - The company has not identified any other items that meet the definition of non-recurring gains and losses[9] Audit Status - The third quarter financial report was not audited, indicating a lack of external verification for the reported figures[24]