Core Insights - The rubber sector experienced a decline of 0.31% on November 7, with Zhen'an Technology leading the losses [1] - The Shanghai Composite Index closed at 3997.56, down 0.25%, while the Shenzhen Component Index closed at 13404.06, down 0.36% [1] Rubber Sector Performance - Notable gainers in the rubber sector included: - Sanwei Equipment (code: 920834) with a closing price of 17.34, up 4.71% and a trading volume of 109,300 shares, totaling 193 million yuan [1] - Yuanxiang New Materials (code: 301300) closed at 43.07, up 3.81% with a trading volume of 42,200 shares, totaling 183 million yuan [1] - Litong Technology (code: 920225) closed at 40.08, up 2.30% with a trading volume of 55,100 shares, totaling 217 million yuan [1] - Other notable performers included: - Quecheng Co. (code: 605183) closed at 19.79, up 1.96% [1] - Haida Co. (code: 300320) closed at 10.03, up 1.42% [1] Decliners in the Rubber Sector - Zhen'an Technology (code: 300767) led the declines with a closing price of 20.69, down 3.27% and a trading volume of 83,600 shares, totaling 174 million yuan [2] - Other notable decliners included: - Fengwu Co. (code: 301459) closed at 41.84, down 1.99% [2] - Sanwei Co. (code: 603033) closed at 11.23, down 1.84% [2] Capital Flow Analysis - The rubber sector saw a net outflow of 43.15 million yuan from main funds, while retail funds experienced a net inflow of 12.67 million yuan [2] - Speculative funds recorded a net inflow of 30.49 million yuan [2]

Market Overview - The rubber sector increased by 1.05% on November 6, with Zhen'an Technology leading the gains [1] - The Shanghai Composite Index closed at 4007.76, up 0.97%, while the Shenzhen Component Index closed at 13452.42, up 1.73% [1] Stock Performance - Zhen'an Technology (300767) closed at 21.39, with a rise of 2.84% and a trading volume of 104,400 shares, amounting to a transaction value of 220 million yuan [1] - Other notable performers include: - Sanwei Co. (603033) at 11.44, up 1.96% [1] - Quecheng Co. (605183) at 19.41, up 1.94% [1] - Litong Technology (920225) at 39.18, up 1.90% [1] - Tiantie Technology (300587) at 7.41, up 1.65% [1] Capital Flow - The rubber sector experienced a net outflow of 68.88 million yuan from institutional investors, while retail investors saw a net inflow of 51.99 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2] Individual Stock Capital Flow - Zhen'an Technology had a net inflow of 24.94 million yuan from institutional investors, but a net outflow of 18.53 million yuan from retail investors [3] - Tongcheng New Materials (603650) saw a net inflow of 17.44 million yuan from institutional investors and a net outflow of 45.17 million yuan from retail investors [3] - Sanwei Co. (603033) had a net inflow of 6.71 million yuan from institutional investors, while retail investors withdrew 5.34 million yuan [3]

Core Viewpoint - Zhenan Technology (300767) is committed to continuously improving its profitability by deepening its core business and exploring innovative paths to provide stable returns for shareholders [1] Group 1 - The company emphasizes strengthening its competitive advantages in its core business [1] - Zhenan Technology is actively seeking innovative approaches to enhance its performance [1] - The company aims to create more stable returns for its shareholders through practical actions [1]

证券代码：300767 证券简称：震安科技 公告编号：2025-091 震安科技股份有限公司 关于控股股东之股东完成协议转让股权过户登记暨 公司控制权发生变更的公告 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、本次股权转让的基本情况 2025 年 6 月 17 日，震安科技股份有限公司（以下简称公司或本公司）控股 股东北京华创三鑫投资管理有限公司（以下简称华创三鑫）的两名法人股东：振 华（昆明）创业投资合伙企业（有限合伙）（以下简称昆明振华）、北京凯韦铭 投资咨询有限公司（以下简称北京凯韦铭）与深圳东创技术股份有限公司（以下 简称深圳东创）签署了《深圳东创技术股份有限公司与振华（昆明）创业投资合 伙企业（有限合伙）、北京凯韦铭投资咨询有限公司关于北京华创三鑫投资管理 有限公司之股权转让协议》（以下简称《股权转让协议》），深圳东创以人民币 61,608 万元对价，受让昆明振华、北京凯韦铭持有的华创三鑫 100%股权。 本次股权转让前，昆明振华持有华创三鑫 54.7619%股权，深圳东创以人民 币 337,377,114 元对价受让昆明振华持有的华创三鑫 ...

Group 1 - The core viewpoint of the news is that Zhen'an Technology (300767.SZ) reported its Q3 2025 results, highlighting a decrease in institutional ownership compared to the previous quarter [1] - As of October 28, 2025, four institutional investors hold a total of 55.2488 million shares of Zhen'an Technology, representing 20.00% of the total share capital, which is a decrease of 2.00 percentage points from the last quarter [1] - The newly disclosed public fund this period is the Zhonghai Quality Growth Mixed Fund, while 36 public funds were not disclosed compared to the previous quarter, including several notable funds [1] Group 2 - One social security fund was not disclosed this period, specifically the National Social Security Fund 118 Portfolio [1] - In terms of foreign investment, one new foreign institution disclosed this period, which is CITIC Securities Asset Management (Hong Kong) Limited - Client Funds [1]

Core Viewpoint - The company has disclosed its third-quarter financial report, ensuring the accuracy and completeness of the information provided, and has made several important decisions regarding its financial management and project funding [2][3][4]. Financial Data - The third-quarter financial report has not been audited [11]. - The company has confirmed that there are no adjustments or restatements required for previous accounting data [3]. - The company received a total of government subsidies amounting to 3,590,764.44 yuan during the reporting period, with 3,146,000.00 yuan related to assets [9]. Shareholder Information - The company has completed a capital increase for its subsidiary, Changzhou Green Power Machinery Manufacturing Co., Ltd., raising a total of 52 million yuan, maintaining a 90% ownership stake [6]. - The company has also decided to terminate certain fundraising projects due to market conditions and project delays, reallocating the remaining funds to supplement working capital [7][8]. Other Important Matters - The company has concluded the fundraising project for the "New Intelligent Shock Absorption and Isolation Equipment Manufacturing Base" and will permanently supplement the remaining funds into working capital [5][8]. - The company has also decided to terminate the "Marketing Network Construction Project" and the "R&D Center Construction Project" due to unfavorable market conditions and land acquisition delays [7][8].

Core Viewpoint - Zhenan Technology (300767.SZ) reported a revenue of 426 million yuan for the first three quarters of 2025, reflecting a year-on-year growth of 33.65%. However, the company experienced a net loss attributable to shareholders of 22.31 million yuan [1]. Financial Performance - The company's operating revenue for the first three quarters reached 426 million yuan, marking a 33.65% increase compared to the previous year [1]. - The net loss attributable to shareholders was 22.31 million yuan [1]. - The net loss attributable to shareholders, after excluding non-recurring gains and losses, amounted to 28.38 million yuan [1]. - The basic loss per share was reported at 0.0807 yuan [1].

Market Overview - The rubber sector increased by 0.81% on October 28, with Zhen'an Technology leading the gains [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Stock Performance - Zhen'an Technology (300767) closed at 24.70, up 10.66% with a trading volume of 372,700 shares and a turnover of 909 million yuan [1] - Other notable performers include Huamao Co. (002068) with a 1.82% increase, and Quecheng Co. (605183) with a 1.66% increase [1] - The overall trading volume and turnover for the rubber sector stocks are detailed in the provided table [1] Capital Flow - The rubber sector experienced a net outflow of 57.79 million yuan from institutional investors, while retail investors saw a net inflow of 36.65 million yuan [2] - The capital flow for individual stocks within the rubber sector indicates varying levels of interest from different investor types [2][3] Individual Stock Capital Flow - Sanqiang Co. (002068) had a net inflow of 27.46 million yuan from institutional investors, while it faced a net outflow from retail investors [3] - Other stocks like Zhen'an Technology (300731) and Fengmo Co. (301459) showed significant net outflows from institutional investors, indicating potential selling pressure [3]

Group 1 - The core point of the article is that Zhenan Technology reported a significant increase in revenue for the third quarter, but also experienced a net loss [1] - In the third quarter, the company's revenue reached 163 million yuan, representing a year-on-year growth of 76.19% [1] - The net profit for the third quarter was a loss of 5.56 million yuan, which is a year-on-year increase in losses of 79.89% [1] Group 2 - For the first three quarters, the company's total revenue was 426 million yuan, showing a year-on-year increase of 33.65% [1] - The net profit for the first three quarters was a loss of 22.31 million yuan, reflecting a year-on-year increase in losses of 60.76% [1]

Financial Performance - Revenue for Q3 2025 reached ¥162,642,285.59, an increase of 76.19% compared to the same period last year[3] - Net profit attributable to shareholders was -¥5,555,199.64, a decrease of 79.89% year-on-year[3] - Net profit excluding non-recurring items was -¥7,216,856.05, down 75.99% from the previous year[3] - The company reported a 62.20% improvement in total profit (loss) to -¥21,995,574.61 compared to the same period last year[8] - Operating revenue for the current period reached 425,688,691.40 yuan, compared to 318,500,819.10 yuan in the previous period, reflecting a significant increase[21] - Operating profit improved to -¥22.46 million compared to -¥60.29 million in the previous period, indicating a significant reduction in losses[22] - Net profit for the period was -¥21.93 million, an improvement from -¥56.28 million year-over-year, reflecting a 61.0% reduction in losses[23] - Basic and diluted earnings per share were both -¥0.0807, compared to -¥0.2299 in the previous period[24] Assets and Liabilities - Total assets at the end of Q3 2025 were ¥2,318,330,181.97, a decrease of 6.30% from the end of the previous year[3] - The company's total liabilities decreased from 827,538,640.47 yuan to 688,905,208.10 yuan during the reporting period[20] - The company’s non-current liabilities decreased from 159,124,166.64 yuan to 119,701,852.74 yuan during the reporting period[20] - Shareholders' equity decreased by 1.36% to ¥1,616,361,677.20 compared to the end of the previous year[3] Cash Flow - Cash flow from operating activities for the year-to-date was ¥147,918,742.63, an increase of 50.66%[3] - Cash received from operating activities increased by 138.35% to 50,770,725.22 from 21,301,086.17, primarily due to the return of restricted funds from the previous year[9] - Net cash flow from operating activities rose by 50.66% to 147,918,742.63 from 98,182,164.75, attributed to improved operational cash flow and recovery of restricted funds[9] - Cash outflow for the acquisition of fixed assets, intangible assets, and other long-term assets decreased by 59.26% to 13,790,558.26 from 33,848,985.80, due to reduced project investments after the completion of construction[9] - Net cash flow from investing activities improved by 54.55% to -12,202,846.92 from -26,850,911.68, reflecting a decrease in cash payments for long-term asset acquisitions[9] - Cash received from borrowings decreased by 49.73% to 82,004,789.04 from 163,118,558.05, due to reduced bank borrowing activities compared to the previous year[9] - Total cash inflow from financing activities decreased by 45.86% to 88,312,568.04 from 163,118,558.05, primarily due to lower cash received from borrowings[9] - Cash outflow for debt repayment decreased by 30.36% to 179,999,706.93 from 258,473,931.93, as the previous year had higher debt repayment[9] - Net increase in cash and cash equivalents was 34,460,065.85, a significant improvement of 191.80% compared to a decrease of 37,537,131.79 in the previous year[9] Shareholder Information - The total number of common shareholders at the end of the reporting period is 22,398[10] - The largest shareholder, Beijing Huachuang Sanxin Investment Management Co., Ltd., holds 18.12% of shares, totaling 50,072,944 shares[10] - The second-largest shareholder, Shi Yijun, holds 2.97% of shares, totaling 8,208,792 shares[10] - The total number of shares held by the top ten unrestricted shareholders is 50,072,944 shares[10] - The total number of shares held by the top ten shareholders is 50,072,944 shares, representing 18.12% of the total shares[10] - The company has no preferred shareholders as of the reporting period[10] - The company’s major shareholders have no pledged, marked, or frozen shares[10] Project and Investment Activities - The company completed a capital increase of 52 million yuan for its subsidiary, Changzhou Green Power Machinery Manufacturing Co., maintaining a 90% ownership stake[13] - The company decided to terminate the marketing network construction project due to the current economic downturn and the impact on the construction industry[14] - The company will permanently supplement its working capital with the remaining funds from the terminated fundraising projects[15] - The company has completed the project for the new intelligent shock absorption and isolation equipment manufacturing base, and will permanently supplement the remaining raised funds into working capital[12] Government Subsidies - The company received a total of 3,590,764.44 yuan in government subsidies during the reporting period, with 3,146,000.00 yuan related to assets[16] Research and Development - Research and development expenses decreased to ¥17.79 million from ¥22.72 million, a reduction of 21.8%[22] Operating Costs - Total operating costs increased to ¥402.70 million from ¥355.11 million, representing a growth of 13.4% year-over-year[22]