Core Insights - The company reported a significant increase in revenue and net profit for the first three quarters of 2025, with a revenue of 2.12 billion and a net profit of 305 million, reflecting year-on-year growth of 61.3% and 104.6% respectively [1] - The third quarter saw a revenue of 836 million, a year-on-year increase of 39.4% and a quarter-on-quarter increase of 7.5%, with a net profit of 117 million, showing a year-on-year growth of 56.5% but a quarter-on-quarter decline of 10.8% [1] Operational Analysis - The wind power main shaft is experiencing accelerated growth, leading to improved profitability, with a gross margin of 24.6% for the first three quarters, up 1.9 percentage points year-on-year, and approximately 26.4% in Q3, up 1.5 percentage points year-on-year and 1.6 percentage points quarter-on-quarter [2] - The increase in gross margin is attributed to the surge in domestic wind power demand and a significant rise in the shipment volume of wind shaft products, particularly cast main shafts, which reduced unit depreciation costs and benefited from lower raw material costs [2] - The company has demonstrated scale effects with a notable improvement in expense ratios, with selling, administrative, and R&D expense ratios at 0.7%, 4.2%, and 4.4% respectively for the first three quarters, showing declines of 0.2, 1.3, and 0.4 percentage points year-on-year [2] - The industry demand forecast for 2026 has been revised upwards, with expectations of annual new installed capacity of no less than 120 GW during the 14th Five-Year Plan period, which is higher than previous industry expectations [2] - The anticipated delivery of numerous overseas orders won by downstream equipment manufacturers in 2024-2025 is expected to sustain industry demand growth, leading to improved capacity utilization for the company's casting products in 2026 [2] Profit Forecast, Valuation, and Rating - Based on the company's Q3 report and the latest industry outlook, the projected net profits for 2025, 2026, and 2027 are 440 million, 570 million, and 690 million respectively, with corresponding price-to-earnings ratios of 23, 17, and 14 times [3] - The company maintains a "buy" rating based on these projections [3]

Core Insights - Jinlei Co., Ltd. (300443.SZ) reported its Q3 2025 results, revealing that 26 institutional investors held a total of 20.03 million A-shares, accounting for 6.26% of the total share capital [1] - The top ten institutional investors collectively held 6.02% of the shares, with a decrease of 0.61 percentage points compared to the previous quarter [1] Institutional Holdings - The number of institutional investors holding Jinlei shares is 26, with a total holding of 20.03 million shares [1] - The top ten institutional investors include notable entities such as Hong Kong Central Clearing Limited and various investment funds, indicating a diversified investor base [1] - The proportion of shares held by the top ten institutional investors decreased from the previous quarter [1] Public Fund Activity - Three public funds increased their holdings in Jinlei, while three others reduced their stakes, indicating mixed sentiment among public fund investors [2] - A total of 12 new public funds disclosed their holdings in Jinlei, reflecting growing interest from new investors [2] - 153 public funds did not disclose their holdings in the current period, suggesting potential shifts in investment strategies [2] Foreign Investment - One foreign fund, Hong Kong Central Clearing Limited, increased its holdings in Jinlei, with an increase percentage of 0.34% [2]

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Views - The company reported a significant increase in revenue and net profit for the first three quarters of 2025, with revenue reaching 2.12 billion RMB, a year-on-year growth of 61.3%, and a net profit of 305 million RMB, up 104.6% year-on-year [2] - The wind power main shaft is accelerating in volume, leading to continuous improvement in profitability, with a gross margin of 24.6% for the first three quarters, up 1.9 percentage points year-on-year [3] - The industry demand for wind power is expected to remain strong, with an upward revision for 2026, which is anticipated to support the company's profit improvement trend [3] Summary by Sections Performance Review - In Q3 2025, the company achieved revenue of 836 million RMB, a year-on-year increase of 39.4% and a quarter-on-quarter increase of 7.5%, with a net profit of 117 million RMB, up 56.5% year-on-year but down 10.8% quarter-on-quarter [2] Operational Analysis - The company’s gross margin improved to approximately 26.4% in Q3, benefiting from increased demand for wind power and a significant rise in the shipment of wind shaft products, particularly cast main shafts [3] - The company’s expense ratios for sales, management, and R&D have decreased, indicating improved cost management as revenue scales up [3] Profit Forecast and Valuation - The forecasted net profits for 2025, 2026, and 2027 are 440 million RMB, 570 million RMB, and 690 million RMB, respectively, with corresponding P/E ratios of 23, 17, and 14 [4]

Company Updates - Jinlei Co., Ltd. announced the resignation of Ms. Zhou Liyu as the Chief Financial Officer due to personal reasons, while she will continue to serve as a director and board secretary [1] - Ms. Zhu Xiaoyu has been appointed as the new Chief Financial Officer after passing the qualifications review by the board's nomination committee and the audit committee [1] Revenue Composition - For the first half of 2025, Jinlei Co., Ltd.'s revenue composition is as follows: Wind power industry accounts for 79.77%, free forgings industry accounts for 14.22%, and other industries account for 6.01% [1]

Group 1 - The core point of the article is that Jinlei Co., Ltd. has appointed Ms. Zhu Xiaoyu as the new Chief Financial Officer [1] Group 2 - The announcement was made on the evening of October 28 [1] - The decision was approved by the company's board of directors [1]

证券代码：300443 证券简称：金雷股份 公告编号：2025-049 金雷科技股份公司 关于财务总监离任暨聘任财务总监的公告 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。 一、财务总监离任情况 金雷科技股份公司（以下简称"公司"）董事会于近日收到董事、 董事会秘书兼财务总监周丽女士递交的书面辞职报告，周丽女士因个人 原因辞去公司财务总监职务，辞职后仍担任公司董事、董事会秘书。周 丽女士的辞职报告自送达董事会之日起生效。周丽女士原定任期至公司 第六届董事会任期届满之日止。周丽女士已按照公司相关规定做好财务 方面的交接工作，其离任财务总监不会影响公司日常经营活动的有序进 行。 截至本公告披露日，周丽女士不存在应履行而未履行的承诺事项。 周丽女士未直接持有公司股份，持有公司 2025 年员工持股计划 104.35 万份份额，对应股份数量 9.05 万股。其通过 2025 年员工持股计划所持 有的公司股份将继续按照《中华人民共和国公司法》《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》等相关法律 法规及公司《2025 年员工持股计划管理办 ...

证券代码：300443 证券简称：金雷股份 公告编号：2025-048 金雷科技股份公司 第六届董事会第十二次会议决议公告 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。 一、董事会会议召开情况 金雷科技股份公司（以下简称"公司"）第六届董事会第十二次会 议于 2025 年 10 月 28 日在公司会议室以现场方式召开。会议通知于 2025 年 10 月 25 日以电话及电子邮件等方式送达给全体董事。本次会议 由公司董事长伊廷雷先生召集并主持，应出席董事 5 人，实际出席董事 5 人。本次会议的召集、召开符合《中华人民共和国公司法》等有关法 律、行政法规、部门规章、规范性文件和《公司章程》的有关规定，会 议决议合法、有效。 二、董事会会议审议情况 1、审议通过了《关于公司 2025 年第三季度报告的议案》 经审议，董事会认为公司 2025 年第三季度报告的内容符合法律、 行政法规、中国证监会及深圳证券交易所的相关规定，真实、准确反映 了公司的财务状况、经营成果和现金流量，不存在虚假记载、误导性陈 述或重大遗漏。 《2025 年三季度报告》的财务信息已经公司董事 ...

Core Points - The company announced the resignation of its Chief Financial Officer (CFO) Zhou Li due to personal reasons, effective immediately upon delivery of the resignation letter to the board [1] - The company appointed Zhu Xiaoyu as the new CFO, with the term starting from the date of board approval until the end of the current board's term [1] Summary by Categories Management Changes - Zhou Li resigned from the position of CFO but will continue to serve as a director and board secretary [1] - Zhu Xiaoyu has been appointed as the new CFO, with the appointment effective from the board meeting on October 28, 2025 [1]

Financial Performance - The company's revenue for Q3 2025 reached ¥836,300,416.25, representing a 39.36% increase compared to the same period last year[5] - Net profit attributable to shareholders was ¥117,488,539.85, up 56.50% year-on-year, while the net profit after deducting non-recurring gains and losses was ¥113,420,383.04, an increase of 61.84%[5] - The company's revenue for the first nine months of 2025 was ¥2,118,966,050.82, marking a 61.35% increase compared to the same period in 2024[9] - Total operating revenue for the current period reached ¥2,118,966,050.82, a significant increase of 61.4% compared to ¥1,313,307,066.26 in the previous period[23] - Operating profit for the current period was ¥347,142,611.74, up 100.9% from ¥172,802,599.65 in the previous period[23] - Net profit attributable to shareholders of the parent company was ¥305,047,846.36, representing a 104.5% increase from ¥149,104,414.90 in the previous period[24] - Total comprehensive income for the current period was ¥305,324,220.17, compared to ¥148,493,657.54 in the previous period, reflecting strong overall performance[24] Earnings and Shareholder Information - The basic earnings per share for the period was ¥0.3678, a 56.83% increase compared to the same period last year[5] - Basic and diluted earnings per share increased to ¥0.9584, up from ¥0.4613 in the previous period, indicating improved profitability[24] - The total equity attributable to shareholders increased by 4.60% to ¥6,298,681,982.67 compared to the end of the previous year[5] - The total number of common shareholders at the end of the reporting period is 27,900[11] - The largest shareholder, Yiting Lei, holds 32.07% of the shares, totaling 102,662,336 shares[11] - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares, totaling RMB 31,945,819.80, based on 319,458,198 shares[13] - The total number of restricted shares at the end of the period is 77,360,553, with Yiting Lei's shares locked at 75%[12] Cash Flow and Assets - The company's operating cash flow showed a negative net amount of -¥280,055,766.88, indicating a significant decline of 222.87% year-on-year[5] - Cash flow from operating activities showed a net outflow of ¥280,055,766.88, compared to a net inflow of ¥227,927,836.97 in the previous period[27] - The cash received from sales of goods and services was ¥1,727,066,389.29, up 40.95% year-on-year, driven by increased sales revenue[9] - The company's cash and cash equivalents decreased to ¥763,081,485.00 from ¥1,126,927,987.26, reflecting a decline of approximately 32.3%[20] - As of September 30, 2025, the total assets amounted to RMB 6,982,215,667.38, an increase from RMB 6,650,231,567.30[20] - Accounts receivable increased to RMB 1,087,011,597.20, up from RMB 866,991,037.80, representing a growth of about 25.3%[20] - Inventory rose to RMB 1,067,708,451.77, compared to RMB 870,365,295.39, indicating an increase of approximately 22.6%[20] Liabilities and Equity - Total current liabilities increased to RMB 542,275,123.06 from RMB 496,148,352.89, marking a rise of about 9.3%[21] - The company's total equity reached RMB 6,305,358,174.17, up from RMB 6,027,970,071.27, reflecting an increase of approximately 4.6%[21] - The non-current liabilities totaled RMB 134,582,370.15, compared to RMB 126,113,143.14, showing an increase of about 6.5%[21] - The company reported a total liability of RMB 676,857,493.21, up from RMB 622,261,496.03, which is an increase of approximately 8.8%[21] - The company’s retained earnings increased to RMB 2,713,675,775.43 from RMB 2,462,935,822.73, representing a growth of about 10.2%[21] Research and Development - Research and development expenses increased to ¥93,653,457.68, a rise of 51.58% due to heightened investment in new product development[9] - Research and development expenses increased to ¥93,653,457.68, up 51.6% from ¥61,783,353.92 in the previous period, indicating a focus on innovation[23] Strategic Initiatives and Future Outlook - The company adjusted the employee stock ownership plan for 2025, with the share purchase price reduced from RMB 11.53 to RMB 11.46 per share, allowing up to 7 participants to acquire 258,700 shares[17] - The board of directors held a meeting on October 28, 2025, to discuss future strategies[30] - The company is focused on ensuring the accuracy of financial information in light of the upcoming accounting changes[29] - Future outlook and performance guidance have not been detailed in the available content[29][30] - No new products or technologies have been mentioned in the current reports[29][30] - Market expansion and acquisition strategies are not addressed in the provided documents[29][30] - Other strategic initiatives have not been outlined in the available information[29][30] Accounting Standards and Auditing - The third quarter financial report of the company has not been audited[30] - The new accounting standards will be implemented starting from 2025, affecting the financial statements from the beginning of that year[29] - The company is preparing for the first-time execution of the new accounting standards, which may impact various financial statement items[29] - There are no specific performance metrics or user data provided in the current documents[29][30]

2025 年半年度权益分派实施公告 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： 证券代码：300443 证券简称：金雷股份 公告编号：2025-047 金雷科技股份公司 1、截至本公告披露日，金雷科技股份公司（以下简称"公司"） 总股本 320,134,598 股，公司回购专用证券账户持有公司股份 417,700 股， 根据《中华人民共和国公司法》的相关规定，回购专户持有的股份不享 有利润分配的权利。因此，公司 2025 年半年度权益分派的股份基数为 319,716,898 股，向全体股东每 10 股派发现金股利 1.00 元人民币（含 税），合计派发现金股利人民币 31,971,689.80 元，不进行资本公积转 增股本，不送红股。 2、本次权益分派实施后，根据股票市值不变原则，按公司总股本 （含已回购股份）折算的每 10 股现金股利为 0.998695 元。按公司总股 本（含已回购股份）折算的每 10 股现金股利（含税）=现金分红总额/ 公司总股本*10=31,971,689.80 元/320,134,598 股*10 股=0.998695 ...