Core Insights - The overall trend in the third quarter shows a reduction in holdings for CATL, while significant increases in holdings were observed for Zhongji Xuchuang and Xinyi Sheng [1][4]. Group 1: Fund Holdings Overview - As of the end of Q3, the total market value of funds holding CATL exceeded 200 billion yuan, making it the only stock with holdings over this threshold [1][4]. - Guizhou Moutai ranked second in fund holdings with a total market value of approximately 123.6 billion yuan, further widening the gap from CATL [1][4]. - Zhongji Xuchuang and Xinyi Sheng were significantly increased in holdings, each surpassing 110 billion yuan in total market value, entering the top five holdings of funds [1][4]. Group 2: Changes in Holdings - Funds collectively reduced their holdings in CATL by over 50 million shares during Q3, despite the stock price rising significantly [4][5]. - Other notable stocks that saw increased fund holdings include Alibaba-W, Dongfang Caifu, and Industrial Fulian, while stocks like Cambricon-U, China Merchants Bank, and Meidi Group were notably reduced [4][9]. - In the A-share market, 32 stocks experienced a reduction of over 10 million shares, primarily in the financial sector, indicating a trend of decreasing exposure in this area [9][10]. Group 3: Significant Increases in Holdings - In the A-share market, 26 stocks received over 10 million shares in increased holdings, with Industrial Fulian seeing a rise of over 480 million shares, bringing total holdings to 645 million shares [5][6]. - In the Hong Kong market, 20 stocks also saw increases of over 10 million shares, with SenseTime-W's holdings increasing by over 2 billion shares, totaling 2.067 billion shares [7][8]. Group 4: Sector Trends - The financial sector saw significant reductions in holdings, with many bank stocks experiencing notable declines in shareholding [9][10]. - In the Hong Kong market, 20 stocks were reduced by over 5 million shares, with many from the financial and telecommunications sectors [11][12].

新易感(300502.SZ)发布2025年第三季度报告，第三季度营收为60.68亿元，同比增长152.53%；净利润为23.85亿元，同比增长205.38%。前三季度 营收为165.05亿元，同比增长221.70%；净利润为63.27亿元，同比增长284.37%。业绩增长主要系报告期内公司受益于人工智能算力投资的发展， 销售收入较上年同期大幅增加。 资金流向: 最新份额为111.7亿份,减 少了1.3亿份,主力资金净 流出3181.0万元。 估值分位:17.43% 游戏ETF (产品代码：159869) 市盈率: 19.99倍 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 相关ETF 食品饮料ETF (产品代码: 515170) ★ 跟踪：中证细分食品饮料产业主题指数 沂五日涨跌: -1.55% 近五日涨跌:6.02% ★ 跟踪：中证动漫游戏指数 市盈率:168.62倍 近五日涨跌: - 1.44% 资金流向: 最新份额为489.0亿份,减 少了5400.0万份,主力资金 净流出6332.4万元。 市盈率： 41.74倍 资金流向: ...

Core Insights - The company reported significant growth in both revenue and net profit for the third quarter and the first three quarters of 2025, driven by investments in artificial intelligence computing power [1] Financial Performance - In Q3 2025, the company's revenue reached 6.068 billion, marking a year-on-year increase of 152.53% [1] - The net profit for Q3 2025 was 2.385 billion, reflecting a year-on-year growth of 205.38% [1] - For the first three quarters of 2025, total revenue amounted to 16.505 billion, which is a 221.70% increase compared to the same period last year [1] - The net profit for the first three quarters was 6.327 billion, showing a remarkable year-on-year growth of 284.37% [1] Drivers of Growth - The substantial increase in sales revenue is attributed to the company's benefits from the development of artificial intelligence computing power investments [1]

为使投资者全面了解公司的经营成果、财务状况及未来发展规划，公司 2025 年第三季度报告于 2025 年 10 月 30 日在中国证监会指定的创业板信息披露网站 巨潮资讯网（www.cninfo.com.cn）上披露。 证券代码： 300502 证券简称： 新易盛 公告编号： 2025-055 成都新易盛通信技术股份有限公司 关于 2025 年第三季度报告披露的提示性公告 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。 2025 年 10 月 29 日，成都新易盛通信技术股份有限公司（以下简称"公司"） 召开了第五届董事会第十一次会议，审议通过了《关于公司 2025 年第三季度报 告的议案》。 2025 年 10 月 29 日 敬请投资者注意查阅。 特此公告。 成都新易盛通信技术股份有限公司董事会 ...

证券代码： 300502 证券简称： 新易盛 公告编号： 2025-054 成都新易盛通信技术股份有限公司 第五届董事会第十一次会议决议公告 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。 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》 公司按照深圳证券交易所的要求，编制了《2025年第三季度报告》，对公司 2025 年第三季度的财务状况和经营成果进行了分析，报告内容真实、准确、完 整地反映了公司 2025 年第三季度的实际情况，不存在任何虚假记载、误导性陈 述或者重大遗漏。 一、董事会会议召开情况 成都新易盛通信技术股份有限公司（以下简称"公司"）第五届董事会第十 一次会议于2025年10月22日以电子邮件及电话方式通知全体董事，并于2025年10 月29日以现场的方式在公司会议室举行。本次会议应到董事7名，实到7名，符合 《中华人民共和国公司法》及《成都新易盛通信技术股份有限公司章程》的规定， 表决所形成决议合法、有效。会议由董事长高光荣主持，以记名投票的表决方式。 2、审议通过了《关于实施子公司吸收合并的议案》 公司为优化 ...

新易盛公告，第三季度营收为60.68亿元，同比增长152.53%；净利润为23.85亿元，同比增长205.38%。 前三季度营收为165.05亿元，同比增长221.70%；净利润为63.27亿元，同比增长284.37%。 ...

Financial Performance - The company's revenue for Q3 2025 reached ¥6,067,620,945.86, representing a 152.53% increase compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2025 was ¥2,384,798,239.47, a significant increase of 205.38% year-over-year[5] - The basic earnings per share for Q3 2025 was ¥2.40, up 203.80% from ¥1.10 in the same quarter last year[5] - The company's operating revenue reached ¥16,504,791,211.36, a significant increase of 221.70% compared to the previous period, primarily driven by advancements in artificial intelligence computing power[10] - Net profit increased to ¥11,407,778,361.95, reflecting a growth of 111.27% year-on-year due to higher operating income[10] - The total operating revenue for the period reached ¥16,504,791,211.36, a significant increase from ¥5,130,435,808.52 in the previous period, representing a growth of approximately 222%[21] - The total operating revenue for the current period reached ¥17,019,651,307.23, a significant increase from ¥5,666,935,005.00 in the previous period, representing a growth of approximately 200%[24] - The net profit attributable to the parent company's shareholders was ¥6,327,092,507.84, compared to ¥1,646,072,871.21 in the previous period, marking an increase of about 284%[23] - The operating profit for the current period was ¥7,046,213,011.26, up from ¥1,867,634,610.48, reflecting a growth of approximately 276%[22] - The total comprehensive income for the current period was ¥6,426,649,845.78, compared to ¥1,682,958,691.24 in the previous period, representing an increase of approximately 282%[23] - The basic and diluted earnings per share were both ¥6.37, compared to ¥1.66 in the previous period, indicating a growth of approximately 284%[23] Assets and Liabilities - Total assets as of September 30, 2025, amounted to ¥21,356,332,939.88, reflecting a 74.10% increase from the end of the previous year[5] - The company's total liabilities included a significant increase in income tax payable, which reached ¥399,972,715.53, up 75.69% due to higher corporate income tax[10] - Total liabilities rose to ¥6,832,326,153.11 from ¥3,938,420,036.03, indicating an increase of approximately 73%[19] - The equity attributable to shareholders increased to ¥14,524,006,786.77 from ¥8,328,129,817.86, reflecting a growth of about 74%[20] Cash Flow and Operating Activities - Cash flow from operating activities for the year-to-date period was ¥4,637,420,680.00, a remarkable increase of 1,529.63% compared to the previous year[5] - The net cash flow from operating activities surged to ¥4,637,420,688.24, a remarkable increase of 1,529.63% compared to the previous period, driven by increased sales and tax refunds[10] - The net cash flow from operating activities was ¥4,637,420,688.24, a substantial rise from ¥284,568,423.34 in the previous period[25] Expenses and Costs - Research and development expenses rose to ¥501,274,536.72, marking a 149.57% increase, indicating a strong commitment to innovation[10] - Sales expenses increased to ¥123,325,111.08, reflecting a 96.88% rise due to higher personnel costs and ongoing market expansion efforts[10] - The total operating costs amounted to ¥9,280,518,667.86, up from ¥3,242,676,709.11, indicating an increase of about 187%[21] - The total operating costs for the current period were ¥9,280,518,667.86, compared to ¥3,242,676,709.11 in the previous period, reflecting an increase of about 186%[22] - The income tax expense for the current period was ¥723,440,998.72, compared to ¥223,719,970.02 in the previous period, indicating an increase of approximately 224%[22] Shareholder Information - The company’s total number of ordinary shareholders at the end of the reporting period was 155,317, indicating a stable shareholder base[12] - The company plans to release 25% of the locked shares for several executives on January 1, 2026, totaling approximately 31,473,120 shares[15] Other Financial Metrics - The weighted average return on equity for Q3 2025 was 20.81%, compared to 12.45% in the same quarter last year[5] - The company reported a substantial increase in other comprehensive income, which amounted to ¥59,943,332.83, a rise of 166.09% attributed to foreign currency translation adjustments[10] - The company experienced a 578.90% increase in other income, totaling ¥25,138,313.57, primarily from government subsidies received during the reporting period[10] - The financial expenses showed a significant change, with a gain of ¥255,411,066.63 due to the appreciation of the foreign currency used by overseas subsidiaries, representing a 179.49% increase[10] - The company received government subsidies amounting to ¥20,407,369.23 during the reporting period, contributing positively to its financial performance[7]

Core Insights - The public funds held a total market value of approximately 37,864 billion yuan in A-shares by the end of Q3 2025, marking an increase of over 12,027 billion yuan compared to the end of Q2 2025, primarily driven by a rapid rise in the A-share market, particularly in the ChiNext index which surged over 50% [2][3]. Industry Distribution - The electronics industry had the highest total market value held by funds, amounting to approximately 8,020 billion yuan, significantly surpassing other sectors. This industry also became the largest sector in terms of total market value in A-shares in August 2025 [2][3]. - The power equipment (mainly renewable energy) and pharmaceutical biotechnology sectors also saw substantial holdings, with fund holdings exceeding 4,500 billion yuan and 3,200 billion yuan, respectively. Additionally, the communication, food and beverage, non-bank financial, and non-ferrous metals sectors each had fund holdings exceeding 2,000 billion yuan [2][3]. Changes in Holdings - Compared to Q2, the fund's holdings in the electronics sector increased by over 3,600 billion yuan, while holdings in power equipment and communication sectors rose by more than 1,900 billion yuan each. Conversely, the banking sector saw the largest decrease in holdings, dropping by over 700 billion yuan [3][4]. Top Holdings - By the end of Q3 2025, 55 A-share companies had over 10 billion yuan in fund holdings. Notably, the top heavy-weight stock was Ningde Times, with a total fund holding market value of approximately 2,071 billion yuan, an increase of over 600 billion yuan from Q2, largely due to a stock price increase of over 60% [5][6]. - Other significant stocks included Zhongji Xuchuang and Xinyi Sheng, each with fund holdings exceeding 1,100 billion yuan, reflecting strong market performance [6][9]. Performance of Fund Holdings - The median increase in stock prices for the 55 A-share companies heavily held by funds was 56.45% in the first three quarters of the year, outperforming the ChiNext index during the same period. Notably, 19 stocks, including Shenghong Technology and Xinyi Sheng, achieved over 100% growth [5][6]. - The top 30 A-share companies favored by funds saw a median price increase of 78.57%, significantly outpacing the ChiNext index [9][11]. AI and New Energy Stocks - A total of 38 AI computing stocks were held by funds, with significant holdings in Zhongji Xuchuang and Xinyi Sheng, each exceeding 1,100 billion yuan. The median increase for these stocks was approximately 129%, with 26 stocks doubling in value [13][17]. - In the new energy sector, 33 stocks were held by funds, with Ningde Times leading at over 2,000 billion yuan in holdings. The median increase for these stocks was around 50%, with notable performers like Xian Dao Intelligent achieving over 210% growth [17].

Core Viewpoint - The article discusses the significant changes in the holdings of public funds in the third quarter of 2025, highlighting the rise of technology stocks and the continued dominance of Ningde Times as the largest holding [4][5]. Group 1: Public Fund Holdings - As of the end of Q3 2025, the total stock holdings of public funds reached 8.99 trillion yuan, an increase of approximately 1.8 trillion yuan from 7.19 trillion yuan at the end of Q2 2025 [3]. - Ningde Times consistently ranks as the top holding in public funds throughout the first three quarters of 2025, with a holding value of 2,071 billion yuan in Q3 [2][4]. - New entrants to the top ten holdings include Zhongji Xuchuang, Xinyi Sheng, and Hanwujing, while companies like China Merchants Bank, Midea Group, and Xiaomi Group have exited the list [5]. Group 2: Technology Sector Insights - Fund managers express optimism about the AI sector, noting that it remains a key driver of global technological innovation, with strong domestic demand for computing power and improving supply chain conditions [5]. - The AI industry is experiencing explosive growth, with domestic internet companies increasing capital expenditures in AI, leading to stable revenue growth and a gradual increase in profit contributions from AI [5]. - There are concerns regarding the long-term outlook for the industry due to uncertainties in technology iterations and the competitive landscape, but there is also recognition of significant progress in technology and applications [6].

Reported Industry Investment Rating - Not provided in the content Core Views of the Report - As of 3Q2025, there were 4,456 active equity funds in the market, an increase of 71 from the end of the previous quarter, with a total fund size of 3.79 trillion yuan [3][8]. - In 3Q2025, the equity positions of common stock - type, partial - stock hybrid, and flexible allocation funds increased slightly, and the positions in the Hong Kong stock market continued to rise. The equity positions were 90.89%, 89.02%, and 74.76% respectively, up 0.69 pct, 1.53 pct, and 2.19 pct from the end of the previous quarter. The Hong Kong stock positions were 12.93%, 17.37%, and 4.09% respectively, up 0.08 pct, 0.26 pct, and 0.01 pct from the end of the previous quarter [3]. - The concentration of individual stocks and industries increased slightly. The concentrations of the top three, top five, and top ten individual stocks were 21.98%, 33.04%, and 53.75% respectively, up 0.90 pct, 1.38 pct, and 1.84 pct from the end of the previous quarter. The concentrations of the first, top three, and top five industries were 24.47%, 41.76%, and 49.64% respectively, up 1.54 pct, 2.38 pct, and 2.51 pct from the end of the previous quarter [3]. - In terms of heavy - position sectors, in A - share market, the heavy - position stocks of active equity funds increased their positions in the technology sector by 11.36 pct compared with the previous quarter. In the Hong Kong stock market, the heavy - position stocks increased their positions in the consumer and pharmaceutical sectors by 3.23 pct and 2.37 pct respectively compared with the previous quarter [3]. - In terms of A - share allocation in 3Q2025, the top three industries in terms of market value of heavy - position stocks of active equity funds were electronics, power equipment and new energy, and pharmaceuticals, accounting for 23.01%, 10.32%, and 10.09% respectively. The top three industries with the largest active increase in positions were communication, computer, and electronics, with increases of 2.77 pct, 2.00 pct, and 1.79 pct respectively [3]. - In terms of Hong Kong stock allocation in 3Q2025, the top three industries in terms of market value of heavy - position stocks of active equity funds were media, pharmaceuticals, and commerce and retail, accounting for 22.69%, 15.79%, and 13.58% respectively. The top three industries with the largest active increase in positions were commerce and retail, pharmaceuticals, and electronics, with increases of 4.80 pct, 1.34 pct, and 1.00 pct respectively [3]. - In 3Q2025, the top three A - shares with the largest active increase in positions compared with the end of the previous quarter were Industrial and Commercial Bank of China, Shennan Circuit, and Zhongji Innolight, with increases of 282.41 billion yuan, 77.17 billion yuan, and 71.51 billion yuan respectively. The top three Hong Kong stocks with the largest active increase in positions were Alibaba - W, Huahong Semiconductor, and Jiufang Zhitou Holdings, with increases of 170.28 billion yuan, 26.99 billion yuan, and 18.13 billion yuan respectively [3]. Summary by Relevant Catalogs 1. Scale and Quantity Analysis - As of 3Q2025, the scale of active equity funds increased. There were 4,456 active equity funds in the market, an increase of 71 from the end of the previous quarter. The total scale was 3.79 trillion yuan, an increase of 619.566 billion yuan or 19.54% from the end of the previous quarter [8]. - The fund issuance market was hot. In 3Q2025, 111 new active equity funds were established, with a combined issuance share of 5.611 billion shares, a 53.33% increase from the end of the previous quarter [9]. - In terms of fund scale distribution, in 3Q2025, the proportion of active equity funds with a scale of less than 100 million yuan was 77.96%. The proportion of funds with a scale of less than 200 million yuan decreased by 3.58 pct, while the proportions of funds with scales of 200 - 1000 million yuan, 1000 - 5000 million yuan, 5000 - 10000 million yuan, and over 10000 million yuan increased by 0.98 pct, 1.78 pct, 0.60 pct, and 0.22 pct respectively [13]. 2. Position Analysis - In 3Q2025, the stock positions of active equity funds increased. The equity positions of common stock - type, partial - stock hybrid, and flexible allocation funds were 90.89%, 89.02%, and 74.76% respectively, up 0.69 pct, 1.53 pct, and 2.19 pct from the end of the previous quarter. These positions were at relatively high historical levels [16]. - The Hong Kong stock positions of active equity funds increased slightly. The Hong Kong stock positions of common stock - type, partial - stock hybrid, and flexible allocation funds were 12.93%, 17.37%, and 4.09% respectively, up 0.08 pct, 0.26 pct, and 0.01 pct from the end of the previous quarter. The number of funds allocating to Hong Kong stocks also increased [17]. 3. Heavy - Position Stock Concentration Analysis - In 3Q2025, the concentration of individual stocks and industries in active equity funds increased. The concentrations of the top three, top five, and top ten individual stocks were 21.98%, 33.04%, and 53.75% respectively, up 0.90 pct, 1.38 pct, and 1.84 pct from the end of the previous quarter. The concentrations of the first, top three, and top five industries were 24.47%, 41.76%, and 49.64% respectively, up 1.54 pct, 2.38 pct, and 2.51 pct from the end of the previous quarter, indicating an increase in risk preference [20]. 4. Heavy - Position Stock Sector Analysis - In the A - share market in 3Q2025, the top three sectors in terms of heavy - position stock allocation of active equity funds were technology, manufacturing, and cyclical sectors, accounting for 39.33%, 23.35%, and 13.58% respectively. The technology sector saw an increase in positions, while the consumer, financial real - estate, pharmaceutical, cyclical, and manufacturing sectors saw a decrease in positions [24]. - In the Hong Kong stock market in 3Q2025, the top three sectors in terms of heavy - position stock allocation of active equity funds were technology, consumer, and pharmaceutical sectors, accounting for 41.25%, 17.70%, and 15.79% respectively. The consumer, pharmaceutical, and cyclical sectors saw an increase in positions, while the technology, manufacturing, and financial real - estate sectors saw a decrease in positions [28]. 5. Heavy - Position Stock Industry Analysis 5.1 Active Equity Fund Heavy - Position Stock Industry Analysis - In A - share allocation in 3Q2025, the top three industries in terms of market value of heavy - position stocks of active equity funds were electronics, power equipment and new energy, and pharmaceuticals, accounting for 23.01%, 10.32%, and 10.09% respectively. The top three industries with the largest active increase in positions were communication, computer, and electronics, while the top three industries with the largest active decrease in positions were banking, home appliances, and national defense and military industry [30][32][33]. - In Hong Kong stock allocation in 3Q2025, the top three industries in terms of market value of heavy - position stocks of active equity funds were media, pharmaceuticals, and commerce and retail, accounting for 22.69%, 15.79%, and 13.58% respectively. The top three industries with the largest active increase in positions were commerce and retail, pharmaceuticals, and electronics, while the top three industries with the largest active decrease in positions were media, consumer services, and communication [36][37]. 5.2 Performance - Excellent and Hundred - Billion Fund Heavy - Position Stock Industry Analysis - In A - share allocation in 3Q2025, the top three industries in terms of market value of heavy - position stocks of performance - excellent funds were electronics, communication, and computer, accounting for 41.21%, 38.05%, and 8.45% respectively. The top three industries with the largest active increase in positions were computer, machinery, and automobile, while the top three industries with the largest active decrease in positions were electronics, media, and power equipment and new energy [40]. - The top three industries in terms of market value of heavy - position stocks of hundred - billion funds were electronics, pharmaceuticals, and food and beverage, accounting for 21.86%, 16.77%, and 13.12% respectively. The top three industries with the largest active increase in positions were communication, computer, and basic chemicals, while the top three industries with the largest active decrease in positions were transportation, electronics, and pharmaceuticals [40][41]. - In Hong Kong stock allocation in 3Q2025, the top three industries in terms of market value of heavy - position stocks of performance - excellent funds were commerce and retail, media, and electronics, accounting for 34.84%, 34.56%, and 24.14% respectively. The top three industries with the largest active increase in positions were commerce and retail, comprehensive finance, and non - ferrous metals, while the top three industries with the largest active decrease in positions were communication, home appliances, and pharmaceuticals [43]. - The top three industries in terms of market value of heavy - position stocks of hundred - billion funds were media, commerce and retail, and pharmaceuticals, accounting for 26.93%, 17.75%, and 12.36% respectively. The top three industries with the largest active increase in positions were commerce and retail, electronics, and pharmaceuticals, while the top three industries with the largest active decrease in positions were media, communication, and consumer services [43]. 6. Heavy - Position Individual Stock Analysis 6.1 Heavy - Position Individual Stock Market Value Analysis - In 3Q2025, the top three A - shares in terms of absolute market value of heavy - position allocation of active equity funds were CATL, Xinyisheng, and Zhongji Innolight, with market values of 67.31 billion yuan, 53.801 billion yuan, and 49.594 billion yuan respectively. The top three A - shares in terms of allocation market value ratio were Novartis Pharma - U, Aerospace South Lake, and Baili Tianheng, with the proportion of shares held accounting for 24.37%, 23.43%, and 23.29% of the tradable shares respectively [46]. - The top three Hong Kong stocks in terms of absolute market value of heavy - position allocation of active equity funds were Tencent Holdings, Alibaba - W, and SMIC, with market values of 65.575 billion yuan, 47.603 billion yuan, and 26.714 billion yuan respectively. The top three Hong Kong stocks in terms of allocation market value ratio were Sino Biopharm, Goldwind Science & Technology, and Kelun Botai Biopharm - B, with the proportion of shares held accounting for 11.75%, 10.73%, and 10.04% of the tradable shares respectively [47]. 6.2 Heavy - Position Individual Stock Active Position - Adjustment Analysis - In 3Q2025, the top three A - shares with the largest active increase in positions of active equity funds compared with the end of the previous quarter were Industrial and Commercial Bank of China, Shennan Circuit, and Zhongji Innolight, with increases of 28.241 billion yuan, 7.717 billion yuan, and 7.151 billion yuan respectively. The top three A - shares with the largest active decrease in positions were Shenghong Technology, Midea Group, and CATL, with decreases of 14.111 billion yuan, 7.982 billion yuan, and 7.262 billion yuan respectively [50]. - The top three Hong Kong stocks with the largest active increase in positions of active equity funds compared with the end of the previous quarter were Alibaba - W, Huahong Semiconductor, and Jiufang Zhitou Holdings, with increases of 17.028 billion yuan, 2.699 billion yuan, and 1.813 billion yuan respectively. The top three Hong Kong stocks with the largest active decrease in positions were Tencent Holdings, Xiaomi Group - W, and Meituan - W, with decreases of 7.926 billion yuan, 7.612 billion yuan, and 5.077 billion yuan respectively [52].