Core Viewpoint - Jingxue Energy (301010.SZ) reported a decline in both revenue and net profit for the first three quarters of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company's operating revenue for the first three quarters was 461 million yuan, representing a year-on-year decrease of 18.01% [1] - The net profit attributable to shareholders of the listed company was 10.1629 million yuan, down 45.02% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 10.1573 million yuan, a decrease of 44.44% compared to the previous year [1] - Basic earnings per share were reported at 0.0941 yuan [1]

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。 2025 年 10 月 29 日，江苏晶雪节能科技股份有限公司（以下简称"公司"） 召开了第四届董事会第二次会议，审议通过了《关于公司<2025 年第三季度报 告>的议案》。为使投资者全面了解公司的经营成果、财务状况等，公司《2025 年第三季度报告》于 2025 年 10 月 30 日在中国证监会创业板指定信息披露网站 巨潮资讯网（http://www.cninfo.com.cn）上披露，敬请投资者注意查阅。 特此公告。 江苏晶雪节能科技股份有限公司董事会 2025 年 10 月 30 日 证券代码：301010 证券简称：晶雪节能 公告编号：2025-054 江苏晶雪节能科技股份有限公司 2025 年第三季度报告披露提示性公告 ...

证券代码：301010 证券简称：晶雪节能 公告编号：2025-053 江苏晶雪节能科技股份有限公司 第四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。 与会董事对本次会议需审议的议案进行了充分讨论并审议通过了以下议案： 1、审议通过《关于公司<2025年第三季度报告>的议案》 经审核，董事会认为：公司2025年第三季度报告真实反映了公司2025年第 三季度的财务状况和经营情况，不存在虚假记载、误导性陈述或重大遗漏。 具体内容详见同日公司披露在巨潮资讯网（http://www.cninfo.com.cn）上的 《2025年第三季度报告》。 一、董事会会议召开情况 1、江苏晶雪节能科技股份有限公司（以下简称"公司"）第四届董事会第 二次会议通知于2025年10月23日以电子邮件及电话方式发出。 2、本次董事会于2025年10月29日在公司会议室以现场与通讯相结合的方式 召开，以记名投票方式表决。 3、本次董事会应出席董事9人，实际出席会议董事9人，其中现场出席董事 8人，通讯出席董事1人。没有董事委托其他董事代为出席或缺席会议。 4、 ...

Financial Performance - The company's revenue for Q3 2025 was ¥140,375,894.97, a decrease of 27.90% compared to the same period last year[5]. - Net profit attributable to shareholders was ¥984,739.14, down 70.68% year-on-year, while the net profit after deducting non-recurring gains and losses was ¥1,183,569.61, a decrease of 64.71%[5]. - Total operating revenue for the current period was RMB 461,008,409.56, a decrease of 17.99% compared to RMB 562,294,696.18 in the previous period[19]. - Net profit for the current period was ¥10,121,584.08, compared to ¥18,493,030.16 in the previous period, reflecting a decline of about 45.2%[21]. - Basic and diluted earnings per share decreased from ¥0.1712 to ¥0.0941, a drop of approximately 45.1%[21]. Cash Flow and Investments - The operating cash flow net amount increased by 142.26% to ¥24,624,961.09 year-to-date[10]. - Cash flow from operating activities generated a net amount of ¥24,624,961.09, compared to a net outflow of ¥58,270,029.20 in the previous period[24]. - The company’s cash flow from investment activities increased by 314.57% to ¥7,233,036.90 compared to the same period last year[10]. - Investment activities generated a net cash inflow of ¥7,233,036.90, compared to ¥1,744,697.21 in the previous period, indicating improved investment performance[24]. - Financing activities resulted in a net cash outflow of ¥23,213,132.18, compared to a net inflow of ¥10,280,567.24 in the previous period, reflecting a shift in financing strategy[24]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,499,783,357.20, a decrease of 2.21% from the end of the previous year[5]. - Total current liabilities decreased to RMB 644,706,210.41 from RMB 655,820,884.50, a decline of 1.71%[17]. - Total liabilities decreased to RMB 671,074,551.80 from RMB 694,088,482.41, a reduction of 3.32%[17]. - Total equity attributable to shareholders of the parent company decreased to RMB 828,487,427.48 from RMB 839,338,297.90, a decline of 1.01%[17]. - Non-current assets decreased to RMB 270,365,960.83 from RMB 296,774,033.51, a decline of 8.93%[16]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 7,087, with the largest shareholder holding 34.51% of the shares[11]. Revenue and Costs - Total operating costs decreased from ¥544,932,105.61 to ¥464,264,974.14, a reduction of approximately 14.8%[20]. - The company received cash from sales of goods and services totaling ¥576,126,297.04, down from ¥723,322,870.83, a decrease of approximately 20.3%[23]. Other Financial Metrics - The company reported a significant increase in accounts receivable financing by 127.43%, reaching ¥7,202,644.33[9]. - The company experienced a 35.23% increase in contract liabilities, amounting to ¥369,938,134.90[9]. - The company reported a 1209.31% increase in credit impairment losses, totaling ¥6,413,063.30[9]. - Cash and cash equivalents at the end of the period amounted to RMB 123,012,809.97, down from RMB 138,853,501.85 at the beginning of the period, reflecting a decrease of 11.83%[16]. - Accounts receivable decreased to RMB 327,750,087.04 from RMB 367,459,707.62, indicating a reduction of 10.79%[16]. - Inventory increased to RMB 617,964,230.24 from RMB 587,873,988.77, showing an increase of 5.11%[16]. - Other income increased from ¥3,164,417.51 to ¥7,873,922.50, representing a growth of approximately 148.5%[20]. - The company reported a tax expense of -¥416,275.76, compared to a tax expense of ¥1,135,624.94 in the previous period, indicating a significant change in tax obligations[20].

Market Overview - The renovation and building materials sector experienced a decline of 0.67% on October 28, with the leading stock, Lawson, falling significantly [1][2] - 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 - Notable gainers in the sector included: - Asia Creative (603378) with a closing price of 8.27, up 9.97% and a trading volume of 523,600 shares, totaling 423 million yuan [1] - Crystal Snow Energy (301010) closed at 24.51, up 4.16% with a trading volume of 126,100 shares, totaling 311 million yuan [1] - Major decliners included: - Lawson (605318) which closed at 68.50, down 3.91% with a trading volume of 74,300 shares, totaling 520 million yuan [2] - Three Trees (603737) closed at 43.94, down 2.96% with a trading volume of 43,900 shares, totaling 195 million yuan [2] Capital Flow - The renovation and building materials sector saw a net outflow of 170 million yuan from institutional investors, while retail investors contributed a net inflow of 166 million yuan [2][3] - The capital flow for specific stocks indicated: - Lei Zhi Group (002398) had a net inflow of 32.81 million yuan from institutional investors, but a net outflow of 33.02 million yuan from retail investors [3] - North New Materials (000786) experienced a net inflow of 25.37 million yuan from institutional investors, with retail investors showing a net outflow of 5.06 million yuan [3]

Group 1 - The core viewpoint of the articles highlights the rapid growth of the ice and snow economy in China, driven by increasing participation in ice and snow sports and a surge in related consumer activities [1][3] - The A-share ice and snow industry index and tourism index have both seen an increase of over 8% since October 9, indicating strong market interest [1] - Notable stocks such as Dalian Shengya have experienced significant gains, with a price increase of over 50% in just two weeks, reflecting investor optimism in the ice and snow sector [1] Group 2 - The consumer market is witnessing a substantial boom, with flight and hotel bookings experiencing dramatic increases; for instance, searches for Harbin Ice Snow World rose by nearly 163% [3] - Hotel bookings in Hebei's Chongli area surged by 2.2 times following the opening of Wanlong Ski Resort, showcasing the growing demand for winter tourism [3] - The indoor ski venues are emerging as popular attractions, with search volumes for locations like Shanghai Yao Snow World and Guangzhou Hot Snow Miracle increasing by over 150% [3] Group 3 - The ice and snow industry in China is projected to exceed 1 trillion yuan by 2025, indicating a robust growth trajectory [3] - The number of participants in ice and snow sports reached 292 million last season, contributing to a consumption scale of over 187.5 billion yuan, which is a year-on-year growth of over 25% [3] - The increasing popularity of ice and snow sports is expected to drive further growth in the industry, with related services such as children's ice training seeing a search volume increase of nearly 87% [3]

特别提示： 江苏晶雪节能科技股份有限公司（以下简称"公司"）于 2025 年 8 月 4 日披露了 《关于公司持股 5%以上股东减持股份的预披露公告》（公告编号：2025-033），公司股 东常润实业公司计划自公告披露之日起 15 个交易日后的 3 个月内，通过集中竞价和大 宗交易的方式合计减持本公司股份不超过 3,240,000 股（占公司总股本比例 3%）。 公司于近日收到持股 5%以上股东常润实业公司出具的《股份减持进展暨减持计划实 施完成的告知函》，截至本公告披露日，于 2025 年 10 月 20 日至 2025 年 10 月 23 日期 间，通过大宗交易方式累计减持公司股份 1,944,000 股，持有公司股份占公司总股本比 例由 12.86%减少至 11.06%，达到 1%的整数倍。本次权益变动不会导致公司控股股东、实 际控制人发生变化，不会对公司治理结构及持续经营产生重大影响。 证券代码：301010 证券简称：晶雪节能 公告编号：2025-052 江苏晶雪节能科技股份有限公司 关于公司持股 5%以上股东权益变动达到 1%暨减持计划实施完成的公告 公司持股5%以上股东常润实业公司保证向本公司提 ...

Market Overview - The Shanghai Composite Index rose by 0.22% on October 23, with 21 out of the 28 sectors in the Shenwan classification experiencing gains. The top-performing sectors were coal and oil & petrochemicals, with increases of 1.75% and 1.53% respectively. Conversely, the sectors that saw the largest declines were telecommunications and real estate, down by 1.51% and 0.99% respectively [1]. Capital Flow Analysis - Throughout the day, the main capital outflow from both markets totaled 33.733 billion yuan. Six sectors saw net inflows, with the coal sector leading at a net inflow of 1.465 billion yuan, followed by the media sector with a net inflow of 362 million yuan and a daily increase of 0.90% [1]. - A total of 25 sectors experienced net capital outflows, with the electronics sector leading the outflow at 5.435 billion yuan, followed by the machinery equipment sector with an outflow of 4.999 billion yuan. Other sectors with significant outflows included pharmaceuticals, telecommunications, and electrical equipment [1]. Construction Materials Sector - The construction materials sector declined by 0.91%, with a total net capital outflow of 697 million yuan. Out of 71 stocks in this sector, 30 stocks rose, including 2 that hit the daily limit, while 41 stocks fell [2]. - Among the stocks with net inflows, Beixin Building Materials topped the list with an inflow of 36.797 million yuan, followed by Jingxue Energy Saving and Qingsong Construction with inflows of 31.815 million yuan and 9.609 million yuan respectively. Conversely, the stocks with the largest net outflows included China Jushi, Zhongcai Technology, and Zhongtie Assembly, with outflows of 65.220 million yuan, 64.058 million yuan, and 58.115 million yuan respectively [2][3]. Individual Stock Performance - The following table summarizes the capital flow and performance of key stocks in the construction materials sector: | Stock Code | Stock Name | Daily Change (%) | Turnover Rate (%) | Main Capital Flow (10,000 yuan) | |------------|------------------|------------------|-------------------|----------------------------------| | 600176 | China Jushi | -1.10 | 0.86 | -65.220 | | 002080 | Zhongcai Technology | -6.01 | 3.09 | -64.058 | | 300374 | Zhongtie Assembly | -8.92 | 21.62 | -58.115 | | 600585 | Conch Cement | -0.38 | 0.56 | -53.628 | | 600293 | Three Gorges New Materials | -6.95 | 16.94 | -49.968 | | 600326 | Tibet Tianlu | -1.70 | 4.85 | -47.501 | | 603256 | Honghe Technology | -4.50 | 1.48 | -42.050 | | 301526 | International Composite Materials | -1.97 | 4.37 | -39.217 | | 605318 | Fashilong | 9.99 | 6.66 | -32.091 | | 000877 | Tianshan Shares | -2.94 | 0.61 | -27.135 | | 002225 | Purenai Shares | -3.76 | 3.88 | -25.901 | | 000672 | Shangfeng Cement | -1.53 | 2.35 | -22.121 | | 600819 | Yaopi Glass | -0.76 | 3.79 | -21.966 | | 001212 | Zhongqi New Materials | -1.95 | 2.87 | -21.142 | | 601636 | Qibin Group | -0.15 | 1.03 | -18.347 | | 603038 | Huali Shares | -0.59 | 6.65 | -16.302 | | 002392 | Beijing Lier | -1.44 | 1.18 | -14.091 | | 002043 | Rabbit Baby | -4.09 | 2.59 | -13.805 | | 002066 | Ruitai Technology | 0.06 | 8.24 | -13.524 | [2][3][4]

Market Overview - A-shares experienced fluctuations with a decrease in trading volume, totaling 1.06 trillion yuan, down 39.3 billion yuan from the previous trading day, with over 3,800 stocks declining [1] Sector Performance - The coal sector showed resilience, with major stocks like Dayou Energy hitting the limit up for the eighth consecutive day, and others like Zhengzhou Coal Power and Liaoning Energy achieving two limit ups in four days [1][3] - Local stocks in Shenzhen surged, with companies such as Jian Ke Yuan and Guangtian Group reaching limit up [2] - The computing hardware sector faced significant declines, particularly in CPO concept stocks, with Tianfu Communication and Changfei Optical Fiber experiencing substantial drops [1] Ice and Snow Industry - The ice and snow industry concept stocks saw rapid increases, with Dalian Shengya achieving two limit ups in four days, driven by a strong cold air mass affecting temperatures across the country [4] - A report indicated that the scale of China's ice and snow industry is expected to exceed 1 trillion yuan by 2025, reaching 1,005.3 billion yuan [4] Media Sector - The media and short drama sectors showed strength, with Hai Kan Co. and Huanrui Century hitting limit up, and several stocks rising over 3% [5] - iQIYI announced a new cooperation plan for short dramas, offering a revenue-sharing model with a 70% exclusive share and a 50% non-exclusive share [5] Banking Sector - The banking sector opened strong but later saw a narrowing of gains, with Postal Savings Bank rising over 4% [6] - Guotai Junan Securities projected a 0.4% and 1.1% year-on-year growth in revenue and net profit for listed banks in the first three quarters of 2025, respectively, with city commercial banks expected to lead in performance growth [6] - CITIC Securities highlighted that the fourth quarter of 2025 may present a key opportunity for dividend stock positioning, as current pessimistic expectations may have been fully reflected [6]

Market Overview - On October 23, A-shares experienced fluctuations and adjustments, with trading volume shrinking again, totaling 1.06 trillion yuan, a decrease of 39.3 billion yuan compared to the previous trading day. Over 3,800 stocks declined [1] - The Shanghai Composite Index closed at 3,888.08, down 25.67 points or 0.66%, while the Shenzhen Component Index fell by 112.71 points or 0.87% [2] Sector Performance - The coal sector showed resilience, with major stocks like Daqo Energy hitting the limit up for eight consecutive trading days, and several stocks such as Zhengzhou Coal and Electricity and Liaoning Energy achieving two limit-ups in four days [2] - Conversely, the computing hardware sector faced significant declines, particularly CPO concept stocks, with Tianfu Communication and Changfei Optical Fiber experiencing substantial drops [3] Local Market Developments - Shenzhen local stocks surged, with companies like Jian Ke Yuan, Guangtian Group, and Shen Saige hitting the limit up, leading to a collective rise in local stocks [3] - A new action plan was issued by Shenzhen to promote high-quality mergers and acquisitions, aiming for a total market value of listed companies to exceed 20 trillion yuan by the end of 2027, and to complete over 200 merger projects with a total transaction value exceeding 100 billion yuan [5] Industry Trends - The ice and snow industry concept stocks saw rapid increases, with Dalian Shengya achieving two limit-ups in four days, alongside other stocks like Changbai Mountain and Sanfu Outdoor rising [6] - The media and short drama sectors continued to strengthen, with stocks like Haikan Co. and Huanrui Century hitting the limit up, while several others rose over 3% [6] Banking Sector Insights - The banking sector opened strong but later narrowed gains, with Postal Savings Bank rising over 4% and other banks like Industrial Bank and Minsheng Bank following suit [8] - According to Guotai Junan Securities, the cumulative revenue and net profit of listed banks are expected to grow by 0.4% and 1.1% year-on-year, respectively, in the first three quarters of 2025, driven by a narrowing decline in net interest margins and reduced credit costs [9] Investment Strategy - CITIC Securities indicated that the fourth quarter of 2025 may be a critical time for bottom-fishing dividend stocks to achieve excess returns, as current pessimistic expectations may have been fully reflected in the market [10]