Core Insights - Hengfeng Tools (300488.SZ) reported a revenue of 514 million yuan for the first three quarters, representing a year-on-year increase of 17.49% [1] - The net profit attributable to shareholders of the listed company reached 114 million yuan, marking an 18.14% year-on-year growth [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 92.847 million yuan, reflecting a year-on-year increase of 17.07% [1]

| 证券代码：300488 | 证券简称：恒锋工具 | 公告编号：2025-058 | | --- | --- | --- | | 债券代码：123239 | 债券简称：锋工转债 | | 恒锋工具股份有限公司 第五届监事会第十二次会议决议公告 经与会监事认真审议，作出了以下决议： 1.审议通过了《关于公司 2025 年第三季度报告全文的议案》 经审核，监事会认为董事会编制和审核《公司2025年第三季度报告》的程序 符合法律、行政法规和中国证监会的规定，报告内容真实、准确、完整地反映了 公司2025年第三季度的财务状况和实际经营情况，不存在任何虚假记载、误导性 陈述或者重大遗漏。 具体内容详见公司同日在巨潮资讯网（http://www.cninfo.com.cn）披露的 《公司 2025 年第三季度报告》。 表决结果：同意 3 票；反对 0 票；弃权 0 票。 三、备查文件 1.恒锋工具股份有限公司第五届监事会第十二次会议决议。 一、监事会会议召开情况 恒锋工具股份有限公司（以下简称"公司"）第五届监事会第十二次会议于 2025 年 10 月 27 日以现场会议表决的方式，在浙江省嘉兴市海盐县武原街道海 兴东路 ...

| 证券代码：300488 | 证券简称：恒锋工具 | 公告编号：2025-057 | | --- | --- | --- | | 债券代码：123239 | 债券简称：锋工转债 | | 1.审议通过了《关于公司 2025 年第三季度报告全文的议案》 审议情况：全体董事一致认为《公司 2025 年第三季度报告全文》真实、准 确、完整的反映了公司 2025 年第三季度的经营情况，不存在虚假记载、误导性 陈述或者重大遗漏。公司董事会同意出具《公司 2025 年第三季度报告》。 本议案已经公司第五届董事会审计委员会第十次会议审议通过。 恒锋工具股份有限公司 第五届董事会第十六次会议决议公告 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 恒锋工具股份有限公司（以下简称"公司"）第五届董事会第十六次会议于 2025 年 10 月 27 日以现场会议与通讯表决相结合的方式，在浙江省嘉兴市海盐 县武原街道海兴东路 68 号公司十楼会议室召开。会议通知于 2025 年 10 月 22 日以专人送达或电子邮件的方式送达。本次会议应到董事 6 人，实际出 ...

Financial Performance - The company's revenue for Q3 2025 reached ¥176,697,998.29, representing a year-on-year increase of 17.07%[5] - Net profit attributable to shareholders for the same period was ¥38,633,434.08, up 17.91% compared to the previous year[5] - The net profit excluding non-recurring gains and losses was ¥30,812,205.79, reflecting a 17.60% increase year-on-year[5] - Total operating revenue for the current period reached ¥514,325,320.97, an increase of 17.5% compared to ¥437,765,447.65 in the previous period[18] - Net profit for the current period was ¥114,172,789.88, representing a 18.1% increase from ¥96,643,264.61 in the previous period[19] - Basic and diluted earnings per share rose to ¥0.6779, compared to ¥0.5897 in the previous period, reflecting a growth of 15.0%[20] - The company reported a total comprehensive income of ¥113,859,491.07, an increase of 18.4% from ¥96,226,867.11 in the previous period[19] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥2,316,120,374.02, a 3.56% increase from the end of the previous year[5] - The company's total assets as of September 30, 2025, amount to ¥2,316,120,374.02, an increase from ¥2,236,581,579.54 at the beginning of the period[15] - The total current assets are ¥1,256,008,353.30, slightly up from ¥1,253,206,764.06[15] - The total liabilities decreased to ¥611,134,692.88 from ¥767,222,751.43[16] - The company's equity increased to ¥1,704,985,681.14, up from ¥1,469,358,828.11[16] Shareholder Information - Shareholders' equity attributable to the parent company reached ¥1,704,985,681.14, marking a 16.04% increase compared to the previous year[5] - The total number of common shareholders at the end of the reporting period is 14,347[12] - The largest shareholder, Hengfeng Holdings Limited, holds 81,901,454 shares, representing 47.30% of the total shares[12] Cash Flow - The cash flow from operating activities showed a significant decline, totaling ¥70,888,826.82, down 40.56% year-to-date[5] - Cash flow from operating activities generated a net amount of ¥70,888,826.82, down 40.6% from ¥119,268,974.33 in the previous period[20] - Net cash flow from investing activities was -$36.68 million, a decrease from -$736.46 million in the previous period[21] - Cash inflow from financing activities totaled $31 million, compared to $661.01 million last year[21] - Cash outflow from financing activities was $66.52 million, down from $125.04 million in the previous period[21] - The net cash flow from financing activities was -$35.52 million, contrasting with a positive $535.97 million last year[21] - The net increase in cash and cash equivalents was $53,961, a significant improvement from a decrease of $81.30 million in the previous period[21] - The ending balance of cash and cash equivalents was $79.09 million, compared to $46.94 million last year[21] Other Financial Metrics - The fair value change income for the year-to-date period was ¥7,595,365.83, a substantial increase of 174.00% compared to the previous year[10] - The company recorded a fair value change gain of ¥7,595,365.83, significantly higher than the gain of ¥2,772,064.30 in the previous period[19] - Research and development expenses for the current period were ¥30,142,593.68, up 19.8% from ¥25,170,681.26 in the previous period[18] - Other income increased to ¥13,161,131.76, compared to ¥10,270,790.32 in the previous period, reflecting a growth of 28.5%[18] Accounting and Governance - The company’s third-quarter financial report was not audited[22] - The new accounting standards will be implemented starting in 2025[22] - The company’s board of directors met on October 28, 2025[23]

Group 1 - The A-share market saw a collective rise in the three major indices, with the Shanghai Composite Index increasing by 0.70%, driven by gains in sectors such as energy equipment, heavy machinery, and electronic components, while coal and telecommunications sectors experienced declines [1] - The machine tool sector showed strong fluctuations, with the Machine Tool ETF (159663) rising by 1.35%, and notable increases in constituent stocks such as Sifangda (up 12.74%), Huaming Equipment (up 5.11%), Zhongtung High-tech (up 4.33%), Hengfeng Tools (up 3.60%), and Dazhu Laser (up 3.26%) [1] Group 2 - According to the German VDW, the global machine tool output for 2024 is projected to be €78.5 billion, with China's output reaching €26.6 billion, accounting for 34% of the global total; China's consumption is estimated at €24.1 billion, representing 30% of the global market [3] - The domestic high-end CNC machine tool localization rate in China is only about 6%, indicating significant potential for import substitution in the high-end machine tool market [3] - The competitive landscape of the machine tool industry is characterized by "high-end monopoly, mid-end catch-up, and low-end competition," with companies from Germany and Japan dominating the high-end market due to their technological advantages, while China remains the largest producer and consumer globally [3] - The Machine Tool ETF (159663) closely tracks the China Machine Tool Index, which encompasses key sectors in the high-end equipment manufacturing field, including laser equipment, machine tools, robots, and industrial control equipment, aligning with the new productivity concept emphasizing innovation and industrial upgrading [3]

| 证券代码：300488 | 证券简称：恒锋工具 | 公告编号：2025-056 | | --- | --- | --- | | 债券代码：123239 | 债券简称：锋工转债 | | 恒锋工具股份有限公司关于 特别提示： 1."锋工转债"（债券代码：123239）转股期为 2024 年 7 月 25 日至 2030 年 1 月 18 日；最新转股价格为 24.19 元/股。 2.2025 年第三季度，共有 2,514 张"锋工转债"完成转股（票面金额共计 251,400.00 元人民币），合计转成 10,386 股"恒锋工具"股票（股票代码： 300488）。 3.截至 2025 年第三季度末，公司剩余可转换公司债券（以下简称"可转债"） 为 4,378,652 张，剩余可转债票面总金额为 437,865,200.00 元人民币。 根据《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 15 号——可转换公司债券》的有关规定，恒锋工具股份有限公司 （以下简称"公司"）现将 2025 年第三季度可转债转股及公司股份变动情况公告 如下： 一、可转换公司债券基本情况 （一）可转换公司债 ...

| 证券代码：300488 | 证券简称：恒锋工具 | 公告编号：2025-055 | | --- | --- | --- | | 债券代码：123239 | 债券简称：锋工转债 | | 恒锋工具股份有限公司关于 | 股东名称 | 减持方式 | 减持时间 | 减持均价 （元/股） | 减持股数 （股） | 占剔除已回购 股份后公司总 | | --- | --- | --- | --- | --- | --- | | | | | | | 股本比例 | | 姚海峰 | 集中竞价交易 | 2025年7月22日 | 39.00 | 4,200 | 0.0025% | | 何勤松 | 集中竞价交易 | 2025年9月16日 | 37.80 | 6,700 | 0.0039% | | 周姚娟 | 集中竞价交易 | 2025年9月16日 | 37.69 | 1,800 | 0.0011% | | 郑继良 | 集中竞价交易 | 2025年9月16日 | 37.65 | 7,700 | 0.0045% | 高级管理人员股份减持计划时间届满暨减持股份结果的公告 高级管理人员姚海峰先生、何勤松先生、周姚娟女士、郑继良先生保证向本 ...

Group 1 - The convertible bond of Fenggong experienced a decline of 2.13%, trading at 164.75 yuan per share, with a transaction volume of 58.7965 million yuan and a conversion premium rate of 9.42% [1] - The credit rating of Fenggong's convertible bond is "A+", with a maturity of 6 years and a tiered coupon rate starting from 0.20% in the first year to 2.50% in the sixth year [1] - The conversion price for the bond is set at 24.19 yuan, with the conversion period beginning on July 25, 2024 [1] Group 2 - Hengfeng Tool Co., Ltd. has nearly 30 years of continuous R&D and investment, leading the Chinese cutting tool industry with multiple records [2] - The company has contributed to high-end manufacturing sectors, successfully replacing imported products for major projects like large aircraft and gas turbines [2] - For the first half of 2025, Hengfeng reported a revenue of 337.6 million yuan, an increase of 17.71% year-on-year, and a net profit of 75.5394 million yuan, up 18.25% year-on-year [2] - As of June 2025, the concentration of shareholding is high, with the top ten shareholders holding 74.71% of shares and the top ten circulating shareholders holding 69.69% [2]

Group 1: Financial Performance - In the first half of 2025, the company achieved total revenue of 337.63 million yuan, a year-on-year increase of 17.71% [1] - The net profit attributable to shareholders was 75.54 million yuan, reflecting an 18.25% year-on-year growth [1] - The company aims for a consolidated revenue target of over 680 million yuan for the full year of 2025 [1] Group 2: Market Segmentation - The automotive parts sector accounts for 50% to 60% of the company's product applications, including new energy vehicles, fuel vehicles, and commercial vehicles [2] - Precision machinery, including smart drive applications, represents approximately 15% of the market [2] - Aerospace, power generation, and wind power equipment sectors also contribute around 15% [2] - The shipbuilding, steel structure, and rail transit sectors make up about 10% [2] Group 3: Investment Projects - The total investment for the "Annual Production of 1.5 Million Precision Cutting Tools" project is 466.83 million yuan, with 175.89 million yuan already invested, indicating a progress rate of 37.68% as of June 30, 2025 [3] - The production capacity will gradually be released as equipment is received and accepted [3] Group 4: Raw Material Costs - The company is facing rising prices for key materials such as high-performance high-speed steel and hard alloys due to market supply and demand dynamics [3] - Strategies include strengthening supplier partnerships and centralized procurement to mitigate cost impacts [3] Group 5: Robotics Sector Development - The company has provided initial development and trial services to over 10 humanoid robot component manufacturers, focusing on gear tools and precision threading tools [4] - Current demand for tools in the humanoid robot sector is low, and significant impacts on overall performance are not expected in the short term [4] Group 6: Convertible Bonds - As of August 18, 2025, the controlling shareholder holds 900,000 convertible bonds [4] - The company has decided not to exercise early redemption rights for the convertible bonds, even if conditions for redemption are met in the next three months [4]

据证券之星公开数据整理，近期恒锋工具（300488）发布2025年中报。截至本报告期末，公司营业总收 入3.38亿元，同比上升17.71%，归母净利润7553.94万元，同比上升18.25%。按单季度数据看，第二季 度营业总收入1.89亿元，同比上升16.64%，第二季度归母净利润4724.76万元，同比上升25.17%。本报 告期恒锋工具公司应收账款体量较大，当期应收账款占最新年报归母净利润比达174.69%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率44.73%，同比减1.09%，净利率22.37%，同比增 0.46%，销售费用、管理费用、财务费用总计5362.58万元，三费占营收比15.88%，同比减4.65%，每股 净资产9.2元，同比增11.95%，每股经营性现金流0.32元，同比减42.69%，每股收益0.45元，同比增 15.38% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 2.87亿 | 3.38(Z | 17.71% | | 归母净利润(元) | 6387.94万 | 7553.9 ...