Market Overview - The small home appliance sector increased by 0.51% on October 24, with Beiding Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Stock Performance - Beiding Co., Ltd. (300824) closed at 12.40, up 4.03% with a trading volume of 92,300 shares and a turnover of 115 million yuan [1] - Liren Technology (001259) closed at 28.51, up 3.90% with a trading volume of 27,100 shares and a turnover of 76.47 million yuan [1] - Ousheng Electric (301187) closed at 26.83, up 2.68% with a trading volume of 25,800 shares and a turnover of 68.55 million yuan [1] - Other notable performers include Beikang (6610Z6) up 2.20%, and Lek Electric (603355) up 1.82% [1] Capital Flow - The small home appliance sector experienced a net outflow of 1.7073 million yuan from institutional investors, while retail investors saw a net outflow of 18.9792 million yuan [2] - Conversely, speculative funds recorded a net inflow of 20.6865 million yuan [2] Individual Stock Capital Flow - Ousheng Electric (301187) had a net inflow of 6.5022 million yuan from institutional investors, while retail investors faced a net outflow of 7.6842 million yuan [3] - Fuhua Co., Ltd. (603219) saw a net inflow of 6.2580 million yuan from institutional investors, with retail investors experiencing a net outflow of 756,600 yuan [3] - Other stocks like Kaineng Health (300272) and Delmar (301332) also showed varying capital flows, indicating mixed investor sentiment [3]

Core Insights - Beiding Co., Ltd. has seen a stock price increase of 5.2% on October 24, reaching 12.54 CNY per share, with a total market capitalization of 4.092 billion CNY [1] - The company has experienced a cumulative increase of 3.83% over the past three days [1] - Beiding specializes in high-quality kitchen small appliances and related products, with 82.49% of its revenue coming from its own brand and 17.51% from OEM/ODM [1] Fund Holdings - Huatai-PB Fund holds a significant position in Beiding Co., with its Huatai-PB CSI 2000 Index Enhanced A fund being the largest shareholder, owning 299,400 shares, which constitutes 0.88% of the fund's net value [2] - The fund has realized a floating profit of approximately 185,600 CNY today, with a total floating profit of 131,700 CNY during the three-day stock price increase [2] - The fund has achieved a year-to-date return of 46.1%, ranking 549 out of 4,218 in its category [2] Fund Manager Performance - The fund managers of Huatai-PB CSI 2000 Index Enhanced A include Sheng Hao, Lei Wenyuan, and Kong Lingye, with varying tenures and performance metrics [3] - Sheng Hao has a tenure of 10 years and 15 days, with a best return of 126.41% during his management [3] - Lei Wenyuan and Kong Lingye both have tenures of 3 years and 82 days, with a best return of 70.54% during their management [3]

Investment Rating - The investment rating for the company is maintained at "Buy-A" with a target price of 14.83 yuan for the next six months [3][4]. Core Insights - The company reported a revenue of 650 million yuan for the first three quarters of 2025, representing a year-on-year increase of 28.6%, and a net profit attributable to shareholders of 80 million yuan, up 113.3% year-on-year [1]. - In Q3 alone, the company achieved a revenue of 220 million yuan, a 19.0% increase year-on-year, and a net profit of 30 million yuan, which is a remarkable 288.9% increase year-on-year [1][2]. - Domestic sales continued to show strong growth, increasing by 31.7% year-on-year in Q3, driven by national subsidy policies that stimulated high-end small appliance consumption [1][2]. - The company's gross profit margin improved to 46.4% in Q3, up 3.5 percentage points year-on-year, attributed to enhanced efficiency in expense management and an increase in the proportion of high-margin proprietary brand sales [2]. Financial Performance Summary - The company is expected to achieve revenues of 940 million yuan, 1.1 billion yuan, and 1.27 billion yuan in 2025, 2026, and 2027 respectively, with net profits projected at 120 million yuan, 150 million yuan, and 180 million yuan for the same years [4][8]. - The earnings per share (EPS) are forecasted to be 0.37 yuan, 0.45 yuan, and 0.55 yuan for 2025, 2026, and 2027 respectively [3][4]. - The net profit margin is expected to improve from 12.8% in 2025 to 14.2% in 2027, indicating a positive trend in profitability [4][8].

Core Insights - Beiding Co., Ltd. (300824.SZ) released its Q3 2025 report, indicating that as of October 23, 2025, four institutional investors held a total of 107 million shares, representing 32.89% of the company's total equity [1] - The institutional holding ratio increased by 0.18 percentage points compared to the previous quarter [1] - One new public fund was disclosed during this period, while 105 public funds were not disclosed compared to the previous quarter [1] Institutional Holdings - The institutional investors include Jinghui Electric Group Co., Ltd., National Social Security Fund 503 Portfolio, China Merchants Fund Management Co., Ltd. - Social Security Fund 1903 Portfolio, and Industrial and Commercial Bank of China - Da Cheng CSI 360 Internet + Big Data 100 Index Securities Investment Fund [1] - The National Social Security Fund 503 Portfolio increased its holdings by 0.92% during this period [1] Public Fund Activity - The newly disclosed public fund is Da Cheng CSI 360 Internet + Index A [1] - The funds that were not disclosed in this period include notable names such as Xin'ao Health China Mixed A, Yongying Growth Navigation Mixed A, and others [1] Foreign Investment - UBS AG was the foreign institution that did not disclose holdings in this period compared to the previous quarter [2]

Core Insights - The company reported a revenue of 219,117,205.27 yuan for the third quarter of 2025, representing a year-on-year growth of 18.98% [2] - The net profit attributable to shareholders of the listed company reached 27,086,989.99 yuan, showing a significant year-on-year increase of 288.95% [2] Financial Performance - Revenue for Q3 2025: 219.12 million yuan, up 18.98% year-on-year [2] - Net profit for Q3 2025: 27.09 million yuan, up 288.95% year-on-year [2]

Core Insights - Beiding Co., Ltd. reported a revenue of 651 million yuan for the first three quarters of 2025, representing a year-on-year growth of 28.57% [1] - The net profit attributable to shareholders of the listed company reached 82.92 million yuan, marking a year-on-year increase of 113.25% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 79.31 million yuan, reflecting a year-on-year growth of 132.46% [1] - The basic earnings per share stood at 0.2556 yuan [1]

Core Viewpoint - Beiding Co., Ltd. (300824.SZ) reported a significant increase in both revenue and net profit for Q3 2025, indicating strong financial performance and growth potential [1] Financial Performance - The company's operating revenue reached 219 million yuan, representing an 18.98% year-on-year increase [1] - The net profit attributable to shareholders was 27.087 million yuan, showing a substantial year-on-year increase of 288.95% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 26.117 million yuan, reflecting a remarkable year-on-year growth of 372.20% [1]

证券代码：300824 证券简称：北鼎股份 公告编号：2025-051 深圳市北鼎晶辉科技股份有限公司 第五届董事会第二次会议决议公告 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。 特此公告。 深圳市北鼎晶辉科技股份有限公司 董 事 会 2025 年 10 月 24 日 1 深圳市北鼎晶辉科技股份有限公司（以下简称"公司"）第五届董事会第二 次会议通知于 2025 年 10 月 17 日以电话、电子邮件、送达方式或即时通讯工具 等方式递交各位董事及高管。会议于 2025 年 10 月 23 日在公司会议室以现场和 通讯相结合方式召开。会议应到董事 8 名，实到董事 8 名。本次会议的召集符合 《公司法》和《公司章程》及有关法律、法规的规定。会议由 GEORGE MOHAN ZHANG 先生主持。经与会董事认真审议，作出如下决议： 1、审议通过《关于<2025 年第三季度报告>的议案》，表决结果：8 票同意， 0 票反对，0 票弃权。 公司董事认真审议了《2025 年第三季度报告》，认为报告内容真实、准确、 完整的反映了公司经营状况，不存在虚假记载、误导性陈述 ...

Financial Performance - The company's revenue for Q3 2025 reached ¥219,117,205.27, representing an increase of 18.98% year-over-year, while the year-to-date revenue was ¥650,924,090.53, up 28.57% compared to the same period last year[10] - Net profit attributable to shareholders for Q3 2025 was ¥27,086,989.99, a significant increase of 288.95% year-over-year, and the year-to-date net profit was ¥82,915,829.19, up 113.25% compared to the previous year[10] - The net profit excluding non-recurring gains and losses for Q3 2025 was ¥26,116,669.64, reflecting a growth of 372.20% year-over-year, with a year-to-date figure of ¥79,311,723.01, an increase of 132.46%[10] - Total operating revenue for the current period reached ¥650,924,090.53, a significant increase of 28.5% compared to ¥506,290,506.96 in the previous period[28] - Net profit for the current period was ¥82,915,829.19, representing a 113.0% increase from ¥38,881,777.14 in the previous period[29] - Basic and diluted earnings per share increased to ¥0.2556 from ¥0.1195, marking a growth of 113.5%[30] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥42,301,485.85, showing a growth of 70.44% compared to the previous year[11] - The net cash flow from operating activities for the first three quarters of 2025 was ¥42,301,485.85, representing a 70.44% increase compared to ¥24,818,498.71 in the same period of 2024[18] - The net cash flow from investing activities was -¥39,890,461.99, a decrease of 127.82% from ¥143,375,520.92 in the previous year, primarily due to expenditures related to mergers and acquisitions[18] - The net cash flow from financing activities was -¥92,794,706.01, a 33.19% improvement from -¥138,890,138.73 in the prior year, influenced by changes in storage billing methods and reduced lease payments[18] - Operating cash inflow for the current period reached ¥697,109,846.07, an increase of 25.2% compared to ¥556,742,096.72 in the previous period[31] - Total cash inflow from operating activities included ¥12,897,636.82 from other operating-related cash, down from ¥31,966,640.99 in the previous period[31] Assets and Liabilities - The total assets at the end of Q3 2025 amounted to ¥1,020,329,784.97, which is a 4.34% increase from the end of the previous year[10] - Total assets reached ¥1,020,329,784.97, compared to ¥977,883,670.51 in the previous period, indicating a growth of 4.4%[27] - Total liabilities increased to ¥299,577,234.29 from ¥273,477,722.28, reflecting a rise of 9.6%[27] - Non-current assets totaled ¥313,556,387.88, up from ¥230,434,689.61, showing a substantial increase of 36.0%[27] - Current liabilities rose to ¥266,623,029.39, compared to ¥221,000,759.00, an increase of 20.6%[27] Inventory and Expenses - The company reported a 34.96% increase in inventory, attributed to a period of stockpiling in preparation for future demand[14] - Research and development expenses were ¥29,029,830.80, slightly down from ¥30,006,327.05, a decrease of 3.2%[28] - The company reported a financial expense of -¥2,217,293.57, compared to -¥998,878.99 in the previous period, indicating an increase in financial costs[29] Market Challenges and Strategies - The company faced challenges in the international market due to evolving tariff barriers and geopolitical conflicts, impacting cross-border operations[11] - The company plans to continue optimizing its operational strategies in response to the increasingly complex external environment[11] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 15,504, with the largest shareholder, Jinghui Electric Group, holding 28.04% of shares[19] Cash and Equivalents - The cash and cash equivalents at the end of the reporting period were ¥305,542,851.10, down from ¥357,881,114.13 at the beginning of the period[25] - The ending cash and cash equivalents balance was ¥205,402,163.88, down from ¥290,185,843.29 in the previous period[32] Audit Information - The company did not conduct an audit for the third quarter financial report[33]

Market Overview - On October 23, the small home appliance sector rose by 0.02% compared to the previous trading day, with Rainbow Group leading the gains [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Stock Performance - Key stocks in the small home appliance sector showed varied performance, with Rainbow Group closing at 25.17, up 4.66%, and Lek Electric at 24.67, up 1.86% [1] - Other notable performers included Liren Technology at 27.44, up 1.70%, and Ousheng Electric at 26.13, up 0.85% [1] Trading Volume and Value - Rainbow Group had a trading volume of 156,000 shares and a transaction value of 386 million yuan [1] - Lek Electric recorded a trading volume of 130,000 shares with a transaction value of 316 million yuan [1] Capital Flow - The small home appliance sector experienced a net outflow of 101 million yuan from institutional investors, while retail investors saw a net inflow of approximately 89.85 million yuan [2] - The capital flow data indicates that retail investors were more active in the market compared to institutional investors [2] Individual Stock Capital Flow - Rainbow Group had a net inflow of 31.61 million yuan from institutional investors, while it faced a net outflow of 2.87 million yuan from retail investors [3] - Lek Electric saw a net inflow of 4.47 million yuan from institutional investors but a significant outflow of 19.97 million yuan from speculative funds [3]