36氪获悉，乐歌股份发布三季度财报。财报显示，公司2025年第三季度实现营业收入17.02亿元，同比 增长9.93%；归属于上市公司股东的净利润3997.28万元，同比下滑62.01%。前三季度实现营业收入 48.46亿元，同比增长21.92%；归属于上市公司股东的净利润1.69亿元，同比下滑36.33%。 ...

Core Viewpoint - Lege Co., Ltd. announced its third board meeting for the sixth session, discussing adjustments to the expected amount of daily related transactions for 2025, indicating ongoing corporate governance and strategic planning [1] Company Summary - Lege Co., Ltd. reported that its revenue composition for the year 2024 is as follows: 57.26% from the furniture manufacturing sector and 42.74% from warehousing and logistics services [1] - As of the report date, Lege Co., Ltd. has a market capitalization of 5 billion yuan [1]

| 证券代码：300729 | 证券简称：乐歌股份 | 公告编号：2025-079 | | --- | --- | --- | | 债券代码：123072 | 债券简称：乐歌转债 | | 乐歌人体工学科技股份有限公司 关于调整 2025 年度日常关联交易预计金额的公告 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。 一、日常关联交易基本情况 （一）日常关联交易概述 1、乐歌人体工学科技股份有限公司（以下简称"公司"）于 2025 年 4 月 18 日、2025 年 5 月 12 日分别召开第五届董事会第三十七次会议和 2024 年度股 东会，审议通过了《关于 2025 年度日常关联交易预计的议案》，公司（包括合 并范围内的子公司，下同）拟定的 2025 年度日常关联交易总额不超过 8055.2 万 元，2026 年 1-5 月预计日常关联交易总金额不超过 4030.5 万元。具体内容详见 公司于 2025 年 4 月 21 日发布在巨潮资讯网（www.cninfo.com.cn）的《关于 2025 年度日常关联交易预计的公告》（公告编号：2025-015）。 ...

乐歌人体工学科技股份有限公司 第六届董事会第三次会议决议公告 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 | 证券代码：300729 | 证券简称：乐歌股份 | 公告编号：2025-078 | | --- | --- | --- | | 债券代码：123072 | 债券简称：乐歌转债 | | 乐歌人体工学科技股份有限公司（以下简称"公司"）第六届董事会第三 次会议于 2025 年 10 月 23 日在宁波市鄞州区首南街道学士路 436 号乐歌大厦会 议室以现场结合通讯的方式召开。会议通知已于 2025 年 10 月 17 日通过邮件的 方式送达各位董事。本次会议应出席董事 7 人，实际出席董事 7 人。 会议由董事长、总经理项乐宏主持，公司部分高管列席。会议召开符合有 关法律、法规、规章和《公司章程》的规定。 具体内容详见公司披露于巨潮资讯网（http://www.cninfo.com.cn）的《2025 年第三季度报告》（公告编号：2025-080)。 表决结果：同意 7 票，反对 0 票，弃权 0 票。 （二）审议通过《关于调整 ...

Core Viewpoint - The company reported a revenue increase in Q3 but experienced a significant decline in net profit compared to the previous year [1] Financial Performance - Q3 revenue reached 1.702 billion yuan, representing a year-on-year growth of 9.93% [1] - Q3 net profit was 39.9728 million yuan, showing a year-on-year decline of 62.01% [1] - Revenue for the first three quarters totaled 4.846 billion yuan, with a year-on-year increase of 21.92% [1] - Net profit for the first three quarters was 169 million yuan, reflecting a year-on-year decrease of 36.33% [1]

Financial Performance - The company's revenue for Q3 2025 reached ¥1,701,636,240.08, representing a year-on-year increase of 9.93%[6] - Net profit attributable to shareholders decreased by 62.01% to ¥39,972,759.71 in Q3 2025, while year-to-date net profit fell by 36.33% to ¥168,977,969.06[6] - Basic and diluted earnings per share for Q3 2025 were both ¥0.1171, down 65.28% compared to the same period last year[6] - Total operating revenue for the current period reached ¥4,846,208,619.06, an increase of 21.8% compared to ¥3,975,061,381.27 in the previous period[22] - Net profit for the current period was ¥168,976,571.77, a decrease of 36.4% from ¥265,412,477.25 in the previous period[23] - Basic and diluted earnings per share were CNY 0.4949, down from CNY 0.8504 in the previous period[24] Assets and Liabilities - The total assets as of September 30, 2025, amounted to ¥10,157,734,865.01, showing a slight increase of 0.06% from the end of the previous year[6] - Current assets decreased to ¥3,670,513,274.56 from ¥4,143,121,550.29, a decline of 11.4%[19] - Total liabilities decreased to ¥6,490,727,764.57 from ¥6,498,048,824.01, a reduction of 0.1%[20] - Long-term borrowings rose to ¥1,151,491,611.87 from ¥901,550,000.00, an increase of 27.7%[20] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥606,148,819.62, up 22.34% compared to the previous year[6] - Cash inflow from operating activities was CNY 5,715,539,992.67, compared to CNY 4,145,396,129.85 in the previous period, representing an increase of approximately 37.9%[25] - Net cash flow from operating activities was CNY 606,148,819.62, up from CNY 495,481,378.57, indicating a growth of about 22.4%[26] - Cash inflow from investment activities totaled CNY 5,374,538,101.37, compared to CNY 3,157,383,888.02 in the previous period, marking an increase of approximately 70%[26] - The net cash flow from investment activities was CNY -808,545,146.58, worsening from CNY -230,241,578.96 in the previous period[26] - Cash inflow from financing activities was CNY 3,688,050,306.80, slightly up from CNY 3,506,076,893.18 in the previous period[26] - The net cash flow from financing activities was CNY 85,897,722.56, down from CNY 399,465,408.55 in the previous period[26] Shareholder Information - The total number of common shareholders at the end of the reporting period is 20,769[13] - The largest shareholder, Ningbo Lijing Electronics Group Co., Ltd., holds 20.40% of shares, amounting to 69,704,758 shares, with 25,806,000 shares pledged[13] - The second-largest shareholder, Lijing (Hong Kong) International Co., Ltd., holds 14.58% of shares, totaling 49,801,028 shares[13] - The company plans to repurchase shares worth between RMB 50 million and RMB 100 million, having already completed the purchase of 3,515,380 shares, representing 1.03% of total shares, for RMB 50,482,019.38[16] - The company’s major shareholders control a combined 47.53% of the shares, indicating significant ownership concentration[13] Research and Development - Research and development expenses increased by 34.59% to ¥159,966,041.52 in the first three quarters of 2025, reflecting the company's commitment to growth[11] - Research and development expenses increased to ¥159,966,041.52, compared to ¥118,856,609.47, marking a rise of 34.6%[23] Other Financial Metrics - The company recorded a total of ¥6,705,697.07 in non-recurring gains and losses for the current period, down from ¥57,209,267.37 year-to-date[7] - The company’s weighted average return on equity for the year-to-date period was 4.68%, a decrease of 3.87% compared to the previous year[6] - The total comprehensive income for the period was CNY 110,545,122.11, a decrease from CNY 230,934,070.77 in the previous period[24] - The ending balance of cash and cash equivalents was CNY 2,182,996,635.99, compared to CNY 2,014,320,714.51 in the previous period[26] Share Restrictions - The number of restricted shares held by Xiang Lehong decreased from 12,119,554 to 11,286,221 after releasing 833,333 shares[14] - The total number of restricted shares held by Jiang Yi increased to 9,272,824 after releasing 2,318,206 shares[14] - The company has a total of 43,042,757 shares under management, with 24,076,054 shares currently restricted[15] - The company has no changes in the top 10 shareholders due to securities lending activities[14] Audit Information - The third quarter financial report was not audited[27]

国泰海通证券股份有限公司 关于乐歌人体工学科技股份有限公司 调整 2025 年度日常关联交易预计金额的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"、"保荐机构"）作为 乐歌人体工学科技股份有限公司（以下简称"乐歌股份"或"公司"）向特定对 象发行股票的持续督导机构，根据《证券发行上市保荐业务管理办法》、《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 2 号——创业板上市公司规范运作》等法规和规范性文件要求，对乐歌股份调整 2025 年度日常关联交易预计金额的事项进行了审慎核查，具体情况如下： 一、日常关联交易基本情况 （一）日常关联交易概述 1、乐歌股份于 2025 年 4 月 18 日、2025 年 5 月 12 日分别召开第五届董事 会第三十七次会议和 2024 年度股东会，审议通过了《关于 2025 年度日常关联交 易预计的议案》，公司（包括合并范围内的子公司，下同）拟定的 2025 年度日 常关联交易总额不超过 8,055.20 万元，2026 年 1-5 月预计日常关联交易总金额 不超过 4,030.50 万元。具体内容详见公司于 2025 年 4 月 2 ...

Core Viewpoint - The Shanghai Composite Index closed at 3916.23 points, above the annual line, with a slight increase of 0.10% on the day, and the total trading volume of A-shares reached 1,948.66 billion yuan [1][2] Group 1: Market Performance - As of the latest close, 19 A-shares have surpassed the annual line, indicating positive market sentiment [1] - The stocks with the largest deviation rates include Shenglong Co., Changshan Beiming, and Youlide, with deviation rates of 9.96%, 3.76%, and 2.52% respectively [1] - The total trading volume for A-shares today was 1,948.66 billion yuan, reflecting active market participation [1] Group 2: Individual Stock Highlights - Shenglong Co. (603178) saw a daily increase of 10.00% with a turnover rate of 9.13% and a latest price of 21.45 yuan, resulting in a deviation rate of 9.96% [1] - Changshan Beiming (000158) increased by 9.98% with a turnover rate of 9.68%, latest price at 24.57 yuan, and a deviation rate of 3.76% [1] - Youlide (688628) experienced a 4.23% increase, with a turnover rate of 2.91%, latest price of 36.22 yuan, and a deviation rate of 2.52% [1]

Market Overview - The Shanghai Composite Index is at 3916.86 points, above the annual line, with a change of 0.12% [1] - The total trading volume of A-shares is 909.4 billion yuan [1] Stocks Breaking Annual Line - A total of 20 A-shares have surpassed the annual line today, with notable stocks including: - Shenglong Co., Ltd. (603178) with a deviation rate of 9.96% - Lege Co., Ltd. (300729) with a deviation rate of 2.14% - Jinguang Co., Ltd. (300510) with a deviation rate of 1.75% [1] Deviation Rate Rankings - The following stocks have the highest deviation rates after breaking the annual line: - Shenglong Co., Ltd. (603178): Today's change of 10.00%, turnover rate of 4.72%, latest price at 21.45 yuan [1] - Lege Co., Ltd. (300729): Today's change of 4.01%, turnover rate of 4.10%, latest price at 15.58 yuan [1] - Jinguang Co., Ltd. (300510): Today's change of 2.00%, turnover rate of 5.62%, latest price at 4.60 yuan [1] Stocks with Smaller Deviation Rates - Stocks with smaller deviation rates that have just crossed the annual line include: - Changjiang Electric Power (600900): Today's change of 0.36%, latest price at 28.03 yuan, deviation rate of 0.01% [2] - Beiqi Blue Valley (600733): Today's change of 3.05%, latest price at 8.11 yuan, deviation rate of 0.03% [2] - Hongcheng Environment (600461): Today's change of 0.22%, latest price at 9.10 yuan, deviation rate of 0.05% [2]

Investment Rating - The report maintains a positive outlook on the light industry and paper sector for Q3 2025, indicating a favorable investment rating [1]. Core Insights - The globalization of supply chains is accelerating changes in the packaging landscape, with leading companies increasing their market share and improving profitability [2]. - Q3 2025 is expected to see a divergence in performance among companies, influenced by supply chain advantages and growth potential [2]. - The report highlights specific companies with projected revenue and profit growth, indicating a robust performance in certain segments despite challenges in others [5][6]. Summary by Sections Packaging and Printing - Companies like Yutong Technology and Baosteel Packaging are expected to see slight revenue growth, while others like Meiyingsen may face revenue pressure but maintain profit growth [2][3]. - The overall packaging sector is benefiting from the global supply chain shift, with many companies reporting stable or improving profit margins [2][3]. Export Sector - Companies such as Jiangxin Home and Qianjiang Motorcycle are projected to experience significant revenue growth, with estimates of over 30% for Q3 2025 [6][7]. - The report notes that the export sector is showing resilience, with several companies adapting well to changing market conditions [6][7]. Two-Wheel and Motorcycle Sector - Companies like Aima Technology and Spring Wind Power are expected to report revenue growth of over 10% in Q3 2025, driven by seasonal demand and market adjustments [10][11]. - The sector is experiencing a mix of growth and challenges, with some companies facing declines due to regulatory changes [10][11]. Home Furnishing Sector - The report indicates that companies like Oppein Home and Kuka Home are facing revenue declines, while others like Joy Home are expected to show resilience with slight growth [12][14]. - The home furnishing market is under pressure from policy changes, but some segments are performing better than others [12][14]. Light Consumer Goods - Companies such as Dongkang Oral and Jeya are projected to see significant revenue and profit growth, with estimates indicating over 60% growth for Jeya in Q3 2025 [13][16]. - The light consumer goods sector is showing a positive trend, with several companies benefiting from strong demand and effective marketing strategies [13][16]. Paper Industry - The report anticipates a mixed performance in the paper sector, with some companies like Sun Paper expected to see profit declines due to price pressures, while others may experience stability [18][19]. - The paper industry is facing challenges from raw material price fluctuations, but certain segments are expected to maintain profitability [18][19].