Core Viewpoint - Zhongrong Electric reported significant growth in its financial performance for the first three quarters of 2025, indicating strong operational momentum and profitability [1] Financial Performance - The company achieved operating revenue of 1.434 billion yuan, representing a year-on-year increase of 48.47% [1] - The net profit attributable to shareholders reached 242 million yuan, marking a substantial year-on-year growth of 101.77% [1] - Basic earnings per share stood at 2.35 yuan [1] - In the third quarter alone, the net profit attributable to shareholders was 105 million yuan, reflecting a year-on-year increase of 91.62% [1]

西安中熔电气股份有限公司 第四届董事会第五次会议决议公告 一、董事会会议召开情况 西安中熔电气股份有限公司（以下简称"公司"）第四届董事会第五次会议 （以下简称"会议"）于2025年10月20日以书面、电子邮件等方式送达全体董事， 会议于2025年10月27日以现场、通讯相结合的方式在公司会议室召开。本次会议 应出席董事9名，实际出席董事9名，会议由董事长方广文先生主持，公司高级管 理人员列席了会议。本次会议的召开符合有关法律、行政法规、部门规章、规范 性文件和公司章程的规定。 二、董事会会议审议情况 经与会董事认真审议，会议以记名投票表决方式通过了以下议案并形成如下决 议： 证券代码：301031 证券简称：中熔电气 公告编号：2025-094 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、误导性陈述或者重大遗漏。 表决情况：同意9票，反对0票，弃权0票，0票回避表决。 上述议案无需提请公司股东大会审议。 三、备查文件 （一）第四届董事会第五次会议决议。 特此公告。 西安中熔电气股份有限公司董事会 （一）审议并通过《关于西安中熔电气股份有限公司2025年第三季度报告 的议案》。 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥595,384,413.08, representing a year-on-year increase of 60.08%[5] - Net profit attributable to shareholders was ¥104,586,219.49, up 91.62% compared to the same period last year[5] - The basic earnings per share increased to ¥1.1068, reflecting a growth of 108.79% year-on-year[5] - The company experienced a 48.47% increase in operating income year-on-year, attributed to the expansion of business scale[9] - Net profit for Q3 2025 was ¥240,431,787.51, representing a 100.1% increase from ¥119,980,060.05 in Q3 2024[18] - Basic earnings per share increased to ¥2.35 from ¥1.17, reflecting a growth of 100.9%[19] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥2,788,719,235.24, a 24.54% increase from the end of the previous year[5] - The total assets of the company increased to ¥2,788,719,235.24, compared to ¥2,239,158,951.08 at the end of the previous period, marking a growth of 24.5%[16] - The company's total liabilities reached ¥1,371,153,663.37, up from ¥1,079,153,405.37, reflecting a 27.0% increase[16] - The company’s total equity attributable to shareholders increased by 21.27% to ¥1,406,748,016.98 compared to the previous year[5] - The equity attributable to shareholders of the parent company rose to ¥1,406,748,016.98, compared to ¥1,160,005,545.71, an increase of 21.2%[16] Cash Flow - The company reported a significant increase in cash flow from operating activities, with a net cash flow of ¥278,409,292.41, up 238.85% year-to-date[5] - Operating cash inflow increased by 51.20% to ¥137,632.71 million, primarily due to increased sales collections[10] - Operating cash inflow for the current period reached ¥1,376,327,123.42, a significant increase of 51.2% compared to ¥910,260,744.00 in the previous period[20] - Net cash flow from operating activities was ¥278,409,292.41, up from ¥82,163,558.75, representing a growth of 238.5%[20] - Cash inflow from financing activities totaled ¥329,331,379.44, up from ¥249,738,713.47, marking a rise of 32%[21] - Net cash flow from financing activities improved to ¥42,185,671.57 from ¥24,616,770.10, an increase of 71.1%[21] Investment Activities - Investment cash inflow surged by 103,175.00% to ¥12,352.56 million, attributed to increased redemption amounts of cash management financial products compared to the previous year[10] - Total cash outflow from investment activities was ¥417,973,677.97, compared to ¥100,281,535.13 in the previous period, indicating a substantial increase in investment expenditures[21] - Net cash flow from investment activities was -¥294,448,099.03, worsening from -¥100,161,926.73, reflecting increased investment outlays[21] - Cash paid for the purchase of fixed assets and intangible assets was ¥138,190,011.15, up from ¥99,487,396.70, reflecting ongoing capital expenditures[21] Shareholder Information - Total number of ordinary shareholders at the end of the reporting period was 15,673[12] - The largest shareholder, Fang Guangwen, holds 13.47% of shares, totaling 13,244,520 shares[12] - The second-largest shareholder, Shi Xiaoguang, holds 5.96% of shares, totaling 5,859,922 shares[12] Research and Development - Research and development expenses rose to ¥13,093.61, marking a 35.60% increase year-on-year, driven by enhanced team capabilities and material costs[9] - Research and development expenses rose to ¥130,936,105.92, up 35.5% from ¥96,562,578.25 year-over-year, indicating a strong focus on innovation[17] Financial Expenses - The company’s financial expenses increased by 88.54% due to expanded bank financing and higher interest expenses[9] Deferred Income Tax Asset - The company reported a deferred income tax asset of ¥19,592,253.11, up from ¥12,932,879.91, indicating improved tax planning strategies[16]

Group 1 - The core transaction on October 17 involved a block trade of 25,000 shares of Zhongrong Electric, with a transaction value of 2.607 million yuan and a price of 104.28 yuan, representing a premium of 4.28% over the closing price of the day [2][3] - In the last three months, Zhongrong Electric has recorded a total of 16 block trades, amounting to a cumulative transaction value of 182 million yuan [3] - The stock closed at 100.00 yuan on the same day, experiencing a decline of 6.75%, with a turnover rate of 4.73% and a total trading volume of 332 million yuan, indicating a net outflow of 22.4551 million yuan in main funds [3] Group 2 - The latest margin financing balance for Zhongrong Electric is 365 million yuan, which has decreased by 80.86 million yuan over the past five days, reflecting a decline of 18.15% [4] - Zhongrong Electric was established on April 20, 2007, with a registered capital of 98.32248 million yuan [4]

Group 1 - The core transaction involved Zhongrong Electric, with a total of 25,000 shares traded on October 17, resulting in a transaction amount of 2.607 million yuan, which accounted for 0.78% of the total trading volume for that day [1][2] - The transaction price was 104.28 yuan per share, representing a premium of 4.28% over the market closing price of 100 yuan [1][2]

Core Viewpoint - Zhongrong Electric has shown significant stock performance with a year-to-date increase of 52.43%, despite a recent decline of 13.06% over the past five trading days [1] Group 1: Stock Performance - As of October 15, Zhongrong Electric's stock price reached 106.50 CNY per share, with a trading volume of 1.37 billion CNY and a turnover rate of 1.90% [1] - The company's market capitalization stands at 10.471 billion CNY [1] - Year-to-date stock performance shows a 52.43% increase, with a 6.57% rise over the past 20 days and a 31.92% increase over the past 60 days [1] Group 2: Financial Performance - For the first half of 2025, Zhongrong Electric reported a revenue of 839 million CNY, reflecting a year-on-year growth of 41.20% [2] - The net profit attributable to shareholders for the same period was 138 million CNY, marking a substantial year-on-year increase of 110.25% [2] Group 3: Shareholder Information - As of September 30, the number of shareholders for Zhongrong Electric increased by 35.52% to 15,700 [2] - The average number of circulating shares per shareholder decreased by 26.21% to 4,390 shares [2] - The company has distributed a total of 176 million CNY in dividends since its A-share listing, with 136 million CNY distributed over the past three years [3] Group 4: Institutional Holdings - As of June 30, 2025, the fourth largest circulating shareholder is GF Multi-Factor Mixed Fund, holding 2.5015 million shares, an increase of 880,200 shares from the previous period [3] - In the same period, Invesco Great Wall New Energy Industry Fund held 2.2909 million shares, increasing by 461,000 shares [3]

Group 1 - The core transaction on October 14 involved a block trade of 25,000 shares of Zhongrong Electric, with a transaction value of 2.619 million yuan and a transaction price of 104.76 yuan, representing a premium of 0.45% over the closing price of the day [2][4] - In the last three months, Zhongrong Electric has recorded a total of 15 block trades, amounting to a cumulative transaction value of 179 million yuan [3] - The closing price of Zhongrong Electric on the day of the transaction was 104.29 yuan, reflecting a decline of 3.00%, with a daily turnover rate of 6.19% and a total transaction volume of 457 million yuan [3] Group 2 - The latest margin financing balance for Zhongrong Electric is 399 million yuan, which has increased by 111 million yuan over the past five days, marking a growth rate of 38.80% [4] - The company, Xi'an Zhongrong Electric Co., Ltd., was established on April 20, 2007, with a registered capital of 98.32248 million yuan [4]

Group 1 - The core transaction involved Zhongrong Electric, with a total of 25,000 shares traded on October 14, resulting in a transaction amount of 2.619 million yuan, which accounted for 0.57% of the total trading volume for the day [1][2] - The transaction price was 104.76 yuan per share, representing a premium of 0.45% over the market closing price of 104.29 yuan [1][2]

Market Overview - On October 13, the other electronics sector declined by 2.23%, with Zhongrong Electric leading the drop [1] - The Shanghai Composite Index closed at 3889.5, down 0.19%, while the Shenzhen Component Index closed at 13231.47, down 0.93% [1] Stock Performance - Notable gainers in the other electronics sector included: - Xuguang Electronics (600353) with a closing price of 20.87, up 10.02% [1] - C Yuhan (301563) at 148.50, up 4.38% [1] - Guoli Electronics (688103) at 77.17, up 4.21% [1] - Major decliners included: - Zhongrong Electric (301031) at 107.52, down 8.86% [2] - Shannon Chip (300475) at 92.53, down 8.40% [2] - Tailong Co. (300650) at 17.82, down 3.94% [2] Capital Flow - The other electronics sector experienced a net outflow of 709 million yuan from institutional investors, while retail investors saw a net inflow of 568 million yuan [2][3] - Specific stock capital flows showed: - Jingquanhua (002885) had a net inflow of 1.49 billion yuan from institutional investors [3] - Xuguang Electronics (600353) saw a net outflow of 772 million yuan from retail investors [3]

Performance Disclosure - Hengdian East Magnetic expects a net profit attributable to shareholders of 1.39 billion to 1.53 billion yuan for the first three quarters, representing a year-on-year increase of 50.1% to 65.2% [1] - China Nuclear Power reported a cumulative commercial power generation of 184.364 billion kWh for the first three quarters, a year-on-year increase of 14.95% [2] - Yangtze Power's total power generation from its domestic cascade power stations was approximately 235.126 billion kWh for the first three quarters, remaining roughly flat compared to the previous year [2] Shareholding Changes - Zhongrong Electric's employee shareholding platform plans to reduce its stake by no more than 1% of the company's total shares [3] - Eryi Biological's controlling shareholder and its concerted parties plan to reduce their stake by no more than 3% of the company's total shares [4] - Lian Ce Technology's actual controller's concerted parties plan to reduce their stake by no more than 2.98% of the company's total shares [5] Risk Matters - Wentai Technology announced that the Dutch government has frozen the assets of its subsidiary, Anshi Semiconductor, for one year, affecting its revenue of approximately 14.7 billion yuan in 2024 [6] Share Transfer - Zhongzhi Holdings announced that its major shareholder, Changjiang Ecological Environmental Group, intends to transfer all of its 63.133 million shares, accounting for 24.73% of the total shares, at a price not lower than 8.72 yuan per share [7] Company Clarification - Haiou Zhugong clarified that it has not participated in any form of lighthouse factory qualification application or recognition, despite media reports linking it to the "lighthouse factory concept" [8]