Investment Rating - The report maintains a "Recommended" rating for the company, with a target price based on the closing price of 25.92 yuan on October 21, 2025 [7]. Core Insights - The company reported a revenue of 1.121 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 7.52%. The net profit attributable to shareholders was 236 million yuan, up 5.06% year-on-year [1][2]. - The third quarter of 2025 saw a revenue of 404 million yuan, reflecting a year-on-year growth of 17.20% and a quarter-on-quarter increase of 10.20%. The net profit for the same period was 88 million yuan, up 8.20% year-on-year [1][2]. - The company is deepening its international market presence with the opening of its first phase of the Thailand factory, which will enhance its global production capacity and supply chain optimization [3]. - The company is expanding its product offerings in linear motion components, achieving significant breakthroughs in high-precision ball screw pairs and linear guide pairs, with ongoing development in key manufacturing processes [4]. Summary by Sections Financial Performance - For Q3 2025, the gross profit margin was 34.37%, a decrease of 0.78 percentage points year-on-year, while the net profit margin was 21.70%, down 1.81 percentage points year-on-year [2]. - The company expects revenues of 1.614 billion, 1.878 billion, and 2.110 billion yuan for 2025, 2026, and 2027 respectively, with net profits projected at 340 million, 393 million, and 450 million yuan for the same years [6][10]. International Expansion - The Thailand factory's first phase has officially opened, with the second phase under construction, which will add an annual production capacity of 8,000 tons of various intermediate shell castings [3]. Product Development - The company has fully laid out its linear motion components, with products already being delivered to well-known domestic machine tool manufacturers. The self-developed planetary roller screw has also been successfully sampled [4]. Investment Outlook - The company is positioned to leverage its expertise in precision machining to enter new markets such as new energy components and industrial mother machines, aiming for sustained growth [4].

Core Viewpoint - Best (300580) reported a strong performance in Q3 2025, with significant year-on-year growth in both revenue and net profit [1] Financial Performance - The company achieved a revenue of 404 million yuan in Q3 2025, representing a year-on-year increase of 17.20% [1] - The net profit for the same period was 87.73 million yuan, showing a year-on-year growth of 8.20% [1]

Core Insights - Best reported a revenue of 404,235,916.26 yuan for Q3 2025, representing a year-on-year growth of 17.20% [1] - The net profit attributable to shareholders of the listed company was 87,733,273.69 yuan, showing an increase of 8.20% compared to the previous year [1] Financial Performance - Revenue for Q3 2025: 404.24 million yuan, up 17.20% year-on-year [1] - Net profit for Q3 2025: 87.73 million yuan, up 8.20% year-on-year [1]

Core Viewpoint - Best (300580.SZ) reported a year-on-year increase in revenue and net profit for the first three quarters of the year, indicating stable growth in its financial performance [1] Financial Performance - The company's operating revenue for the first three quarters reached 1.12 billion, representing a year-on-year growth of 7.52% [1] - The net profit attributable to shareholders of the listed company was 236 million, showing a year-on-year increase of 5.06% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 221 million, reflecting a year-on-year growth of 6.06% [1]

Core Viewpoint - Best (300580.SZ) reported a revenue of 1.042 billion yuan for the first three quarters of 2024, reflecting a year-on-year growth of 3.52% [1] - The net profit attributable to shareholders of the listed company reached 225 million yuan, an increase of 7.08% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 209 million yuan, showing a significant year-on-year growth of 22.38% [1] - Basic earnings per share stood at 0.4504 yuan [1] Financial Performance - Revenue for the first three quarters: 1.042 billion yuan, up 3.52% year-on-year [1] - Net profit attributable to shareholders: 225 million yuan, up 7.08% year-on-year [1] - Net profit after deducting non-recurring gains: 209 million yuan, up 22.38% year-on-year [1] - Basic earnings per share: 0.4504 yuan [1]

Core Insights - Best (300580.SZ) reported a revenue of 1.121 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 7.52% [1] - The net profit attributable to shareholders of the listed company was 236 million yuan, an increase of 5.06% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 221 million yuan, reflecting a year-on-year growth of 6.06% [1] - Basic earnings per share stood at 0.4719 yuan [1]

Core Insights - Best (300580.SZ) reported a revenue of 1.121 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 7.52% [1] - The net profit attributable to shareholders of the listed company was 236 million yuan, an increase of 5.06% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 221 million yuan, reflecting a year-on-year growth of 6.06% [1] - The basic earnings per share stood at 0.4719 yuan [1]

Group 1 - The company Best announced that its 17th meeting of the fourth board of directors was held on October 21, 2025, via communication methods [1] - The meeting reviewed the proposal regarding the company's third-quarter report for 2025 [1] Group 2 - The interview with He Keng emphasized the need to change the previous tendency of overly concentrating funds on housing and infrastructure construction, highlighting the importance of investing in the livelihood sector [1]

股票代码：300580 股票简称：贝斯特 公告编号：2025-026 表决结果：同意票 5 票，反对票 0 票，弃权票 0 票。 经审议，董事会认为公司《2025 年第三季度报告》编制和审议程序符合法 律、行政法规及中国证监会的规定，报告内容真实、准确、完整地反映了公司 2025 年第三季度的经营管理情况，不存在任何虚假记载、误导性陈述或者重大 遗漏。 该议案已经公司审计委员会审议通过。 具体内容详见公司 2025 年 10 月 22 日于巨潮资讯网（www.cninfo.com.cn） 披露的《2025 年第三季度报告》（公告编号：2025-025）。 无锡贝斯特精机股份有限公司 第四届董事会第十七次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，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 无锡贝斯特精机股份有限公司（以下简称"公司"）第四届董事会第十七次会 议于 2025 年 10 月 16 日以电子邮件方式发出会议通知，于 2025 年 10 月 21 日以 通讯方式召开。会议应出席董事 5 名，实际出席董事 5 名。公司董事长曹余华先 生主持会议，公司高级管 ...

Financial Performance - The company's revenue for Q3 2025 reached ¥404,235,916.26, representing a 17.20% increase year-over-year[4] - Net profit attributable to shareholders was ¥87,733,273.69, an increase of 8.20% compared to the same period last year[4] - The basic earnings per share for the period was ¥0.1753, reflecting a growth of 7.88% year-over-year[4] - Total operating revenue for the current period reached ¥1,120,641,923.00, an increase of 7.5% compared to ¥1,042,262,348.48 in the previous period[19] - Net profit for the current period was ¥236,365,489.80, representing a growth of 5.9% from ¥224,982,136.46 in the previous period[20] - Basic and diluted earnings per share increased to ¥0.4719 from ¥0.4504, reflecting a rise of 9.2%[20] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥3,823,771,918.88, a 2.48% increase from the end of the previous year[4] - The total assets of the company as of September 30, 2025, amounted to CNY 3,823,771,918.88, an increase from CNY 3,731,065,443.12 at the beginning of the period[17] - The company's total equity increased to CNY 3,261,100,045.91 from CNY 3,104,309,839.44, reflecting a growth of approximately 5.1%[18] - Total liabilities decreased to CNY 562,671,872.97 from CNY 626,755,603.68, a reduction of about 10.2%[17] - The total current liabilities decreased to CNY 353,587,316.37 from CNY 406,478,214.54, a decline of about 13.0%[17] Cash Flow - The net cash flow from operating activities decreased by 46.55% to ¥159,690,879.16 due to increased payments for goods and taxes[10] - Cash flow from operating activities generated a net amount of ¥159,690,879.16, down 46.5% from ¥298,745,417.08 in the previous period[21] - Cash flow from investment activities resulted in a net outflow of ¥76,152,344.75, an improvement compared to a net outflow of ¥210,166,198.37 in the prior period[21] - Cash and cash equivalents at the end of the period totaled ¥183,778,655.33, a decrease from ¥169,221,115.41 in the previous period[22] - The company's cash and cash equivalents increased to CNY 207,846,126.44 from CNY 186,286,103.48, reflecting a growth of approximately 33.5%[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 47,716[12] - The largest shareholder, Wuxi Best Investment Co., Ltd., holds 49.67% of the shares, totaling 248,599,638 shares[12] Other Financial Metrics - The company reported a significant increase in other non-current assets by 183.45%, primarily due to an increase in prepaid equipment costs[7] - Financial expenses rose by 127.21% to ¥1,344,249.05, mainly due to increased exchange losses during the reporting period[9] - The company recorded a 724.69% increase in asset disposal gains, amounting to ¥2,253,507.99, compared to the previous year[9] - Accounts receivable rose to CNY 547,923,969.81, up from CNY 487,097,309.16, indicating an increase of about 12.5%[16] - Inventory levels increased to CNY 304,423,534.95 from CNY 270,575,097.22, representing a growth of approximately 12.5%[16] - The non-current assets totaled CNY 1,961,579,138.35, up from CNY 1,865,573,659.89, indicating an increase of about 5.1%[17] - The company's retained earnings rose to CNY 1,489,387,941.45 from CNY 1,338,278,436.62, showing an increase of approximately 11.3%[17] Tax and Other Income - The company reported a tax expense of ¥30,396,249.04, slightly higher than ¥29,353,299.89 in the previous period[20] - Other comprehensive income after tax for the current period was ¥1,747,457.75, significantly up from ¥123,593.22 in the prior period[20] Market Activity - The company did not report any significant new product launches or market expansions during this period[24]