Core Insights - Zhang Xiaoqin reported a revenue of 254 million yuan in Q3, representing a year-on-year increase of 23.09% [1] - The net profit attributable to shareholders reached 10.47 million yuan in Q3, showing a significant year-on-year growth of 112.04% [1] - For the first three quarters, total revenue amounted to 726 million yuan, an increase of 14.11% year-on-year, while net profit attributable to shareholders was 37.98 million yuan, up 120.78% year-on-year [1] - The substantial growth in profit has resulted in a strong cash flow, with operating cash flow increasing by 554.70% year-on-year in the first three quarters [1] Financial Performance - Q3 revenue: 254 million yuan, up 23.09% year-on-year [1] - Q3 net profit: 10.47 million yuan, up 112.04% year-on-year [1] - Total revenue for the first three quarters: 726 million yuan, up 14.11% year-on-year [1] - Net profit for the first three quarters: 37.98 million yuan, up 120.78% year-on-year [1] - Operating cash flow increase: 554.70% year-on-year in the first three quarters [1] Market Context - The performance is supported by the national push to expand domestic demand and stimulate consumption, leading to a stronger consumer market [1] - Zhang Xiaoqin is leveraging both online and offline channels to enhance its market presence [1]

Core Insights - Zhang Xiaoqin reported a revenue of 253,590,395.05 yuan for Q3 2025, representing a year-on-year growth of 23.09% [2] - The net profit attributable to shareholders reached 10,474,029.24 yuan, showing a significant year-on-year increase of 112.04% [2] Financial Performance - The company's revenue for Q3 2025 was 253.59 million yuan, up from the previous year by 23.09% [2] - The net profit for the same period was 10.47 million yuan, which is an increase of 112.04% compared to the previous year [2]

Core Viewpoint - Zhang Xiaoqin Co., Ltd. reported significant growth in revenue and net profit for the first three quarters of 2025, indicating strong operational performance and effective strategic initiatives [1] Financial Performance - The company achieved a revenue of 726 million yuan for the first three quarters, representing a year-on-year increase of 14.11% [1] - Net profit attributable to shareholders reached 37.976 million yuan, up 120.78% year-on-year [1] - The net profit after deducting non-recurring gains and losses was 36.733 million yuan, reflecting a 126.07% increase year-on-year [1] - In the third quarter alone, revenue was 254 million yuan, showing a year-on-year growth of 23.09% [1] - The net profit for the third quarter was 10.474 million yuan, which is a 112.04% increase compared to the same period last year [1] Strategic Initiatives - The company has intensified its efforts in channel restructuring and product innovation during the reporting period [1] - There has been a continuous optimization of the supply chain system efficiency and product structure [1] - The optimization of e-commerce platform traffic strategies has led to improved sales performance, contributing to both revenue and profit growth [1] - Overall, the company's profitability and cash flow have improved, laying a solid foundation for stable growth in future performance [1]

证券代码：301055 证券简称：张小泉 公告编号：2025-071 张小泉股份有限公司 关于 2025 年前三季度计提信用及资产减值准备的公告 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。 张小泉股份有限公司（以下简称"公司"）根据《企业会计准则》及《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》等相关规 定，对公司及下属子公司资产进行减值测试，并对部分可能存在减值迹象的资产 计提了减值准备。现将具体情况公告如下： 一、本次计提信用及资产减值准备情况概述 根据《企业会计准则》及公司会计政策等相关规定，为真实、准确反映公司 资产状况和财务状况，公司对合并报表范围内截至 2025 年 09 月 30 日的资产进 行了减值测试，根据测试结果，基于谨慎性原则，公司对可能发生减值损失的资 产计提信用及资产减值准备。 二、本次计提信用及资产减值准备的资产范围和总金额 公司对合并报表范围内截至 2025 年 09 月 30 日的资产进行全面清查和资产 减值测试，对可能存在减值迹象的资产计提减值准备。2025 年前三季度公司累 计计提各项信用及 ...

证券代码：301055 证券简称：张小泉 公告编号：2025-069 张小泉股份有限公司 张小泉股份有限公司（以下简称"公司"）第三届监事会第七次会议通知于 2025 年 10 月 24 日以邮件形式发出，并于 2025 年 10 月 28 日在公司会议室以现 场方式召开。本次会议应出席监事 3 名，实际出席监事 3 名，其中郑小洁女士以 通讯表决方式出席本次会议。本次会议由监事会主席崔俊女士召集并主持。会议 的召集和召开符合《公司法》《证券法》等法律法规、部门规章、规范性文件及 《公司章程》的有关规定。 二、监事会会议审议情况 经全体参会监事认真讨论，会议形成如下决议： （一）审议通过《关于<2025 年第三季度报告>的议案》 监事会认为：董事会编制和审核公司《2025 年第三季度报告》的程序符合 法律、行政法规和深圳证券交易所的规定，报告内容真实、准确、完整地反映了 公司的实际情况，不存在虚假记载、误导性陈述或者重大遗漏。因此，全体监事 一致同意《2025 年第三季度报告》。 具体内容详见公司同日在巨潮资讯网（http://www.cninfo.com.cn）披露的 《2025 年第三季度报告》。 表决结 ...

张小泉股份有限公司 第三届董事会第十次会议决议公告 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 张小泉股份有限公司（以下简称"公司"）第三届董事会第十次会议通知于 2025 年 10 月 24 日以邮件方式发出，并于 2025 年 10 月 28 日在公司会议室以现 场结合通讯方式召开。会议由董事长张新程先生主持，应出席董事 8 名，实际出 席董事 8 名，其中王傲延先生、潘根峰先生以通讯表决方式出席本次会议。全体 监事、高级管理人员列席本次会议。会议的召集和召开符合《公司法》《证券法》 等法律法规、部门规章、规范性文件及《公司章程》的规定。 二、董事会会议审议情况 证券代码：301055 证券简称：张小泉 公告编号：2025-068 具体内容详见公司同日在巨潮资讯网（http://www.cninfo.com.cn）披露的 《2025 年第三季度报告》。 公司第三届董事会审计委员会 2025 年第四次会议审议通过了该议案。 表决结果：同意 8 票，反对 0 票，弃权 0 票。 三、备查文件 1、第三届董事会第十次会议决议； 2、第 ...

Core Viewpoint - Zhang Xiaoqing announced a revenue of 254 million yuan for the third quarter of 2025, representing a year-on-year growth of 23.09% [1] - The net profit attributable to shareholders reached 10.474 million yuan, showing a significant year-on-year increase of 112.04% [1] - The basic earnings per share stood at 0.07 yuan [1] Financial Performance - Revenue for Q3 2025: 254 million yuan, up 23.09% year-on-year [1] - Net profit for Q3 2025: 10.474 million yuan, up 112.04% year-on-year [1] - Basic earnings per share: 0.07 yuan [1]

Financial Performance - The company's revenue for Q3 2025 reached ¥253,590,395.05, representing a 23.09% increase year-over-year[5] - Net profit attributable to shareholders was ¥10,474,029.24, a significant increase of 112.04% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was ¥10,124,985.82, up 116.32% year-over-year[5] - Total operating revenue for the current period reached ¥725,578,398.11, an increase of 14.1% compared to ¥635,883,237.03 in the previous period[21] - Net profit for the current period was ¥42,189,094.11, representing a 97.9% increase from ¥21,309,393.22 in the previous period[22] - Operating profit increased to ¥50,113,977.76, up 71.5% from ¥29,206,668.95 in the previous period[21] - Basic and diluted earnings per share were both ¥0.25, compared to ¥0.11 in the previous period[23] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥41,092,451.13, reflecting a substantial increase of 554.70%[12] - Cash flow from operating activities generated a net amount of ¥41,092,451.13, significantly higher than ¥6,276,566.18 in the previous period[24] - The total cash inflow from operating activities was ¥854,228,458.82, an increase from ¥758,716,096.47 in the previous period[24] - The net cash flow from investment activities was -¥57,843,125.28, compared to ¥11,092,750.02 in the previous period, indicating a significant decline in investment returns[26] - Total cash inflow from financing activities was ¥5,100,000.00, down from ¥20,500,000.00 in the previous period, reflecting reduced financing efforts[26] - The net cash flow from financing activities was -¥16,308,918.61, compared to -¥70,400,742.31 in the previous period, showing an improvement in cash management[26] - The ending balance of cash and cash equivalents was ¥189,671,065.15, compared to ¥120,172,592.75 in the previous period, indicating an increase in liquidity[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥974,327,665.95, a decrease of 2.00% from the end of the previous year[5] - The company's cash and cash equivalents decreased to ¥191,552,065.56 from ¥224,739,973.64, reflecting a decline of approximately 14.8%[19] - The total liabilities decreased to ¥298,264,550.57 from ¥342,147,084.81, indicating a reduction of about 12.8%[20] - The company's inventory decreased to ¥146,854,512.17 from ¥171,066,483.54, representing a decline of approximately 14.1%[19] - The total equity attributable to the parent company increased to ¥654,429,662.67 from ¥634,625,001.86, showing an increase of about 3.1%[20] Shareholder Information - The company has a total of 7,262 common shareholders as of the reporting period[13] - The company reported a total of 10 major shareholders, with the largest being Hangzhou Zhang Xiaoqin Group Co., Ltd., holding 44,043,709 shares[16] - The company repurchased 4,572,324 shares, which accounted for 2.93% of the total share capital at the end of the reporting period[17] Expenses - Total operating costs for the current period were ¥664,538,848.36, an increase of 9.3% from ¥607,874,140.81 in the previous period[21] - Sales expenses rose to ¥131,289,601.45, up from ¥119,980,986.49 in the previous period, indicating a 9.9% increase[21] - Research and development expenses remained stable at ¥20,335,161.50, slightly down from ¥20,383,093.52 in the previous period[21] - The company reported other income of ¥2,122,166.43, compared to ¥2,166,870.69 in the previous period[21] Investment Activities - The net cash flow from investing activities was negative at -¥57,843,125.28, a decline of 621.45% year-over-year, attributed to investments in bank financial products[12] - Cash inflow from investment activities totaled ¥126,441,216.30, a significant increase from ¥24,295,214.01 in the previous period[26] - Cash outflow for investment activities was ¥184,284,341.58, compared to ¥13,202,463.99 in the previous period, highlighting increased capital expenditures[26] - Cash paid for the acquisition of fixed assets and other long-term assets was ¥4,284,341.58, down from ¥10,202,463.99 in the previous period, indicating a reduction in capital investments[26] - Cash received from other investment activities amounted to ¥91,318,229.05, which was not present in the previous period, suggesting new investment opportunities[26] Risk Management - The company has made provisions for credit and asset impairment as of August 29, 2025, indicating a proactive approach to risk management[17] Audit Information - The third quarter financial report was not audited, which may affect the reliability of the reported figures[27]

Market Overview - The home goods sector increased by 0.39% on October 22, with N Marco leading the gains [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Top Performers - N Marco (001386) closed at 31.46, up 128.80% with a trading volume of 757,000 shares [1] - Seagull Home (002084) closed at 4.90, up 10.11% with a trading volume of 1.72 million shares [1] - Dream Lily (603313) closed at 10.16, up 5.50% with a trading volume of 588,100 shares [1] Underperformers - Hango Group (001221) closed at 61.79, down 5.59% with a trading volume of 42,700 shares [2] - Dongpeng Holdings (003012) closed at 7.19, down 5.27% with a trading volume of 254,200 shares [2] - Delixi Group (002571) closed at 7.82, down 5.10% with a trading volume of 280,700 shares [2] Capital Flow - The home goods sector saw a net inflow of 602 million yuan from institutional investors, while retail investors experienced a net outflow of 1.077 billion yuan [2][3] - N Marco had a net inflow of 587 million yuan from institutional investors, representing 22.74% of its total trading volume [3] - Seagull Home experienced a net outflow of 68.04 million yuan from retail investors, indicating a negative sentiment among smaller investors [3]

Core Viewpoint - The Wenzhou Tongfu 2025 Autumn New Product Appreciation and Ordering Conference serves as a significant platform for deepening trust and collaborative development between brands and channels, with Zhang Xiaoqing enhancing its market channel network and driving sales growth [1][2]. Group 1: Event Overview - The conference featured management teams, sales personnel, core distributors, potential new clients, and long-term partners from various brands, including Zhang Xiaoqing, Amir, and Mai Tubu [1]. - The event included product displays, policy announcements, and in-depth communication activities [1]. Group 2: Zhang Xiaoqing's Strategies - Zhang Xiaoqing introduced an attractive terminal image support policy, allowing distributors to prepay 1,000 yuan to receive 5,000 yuan for store renovations, with a maximum limit of 20,000 yuan [4]. - This policy aims to reduce the financial burden on distributors for store upgrades and promote standardized and high-end brand image construction [4]. Group 3: Brand Development and Product Offering - Zhang Xiaoqing's Vice General Manager emphasized the importance of products as a bridge between the brand and consumers, and as tools for distributors to expand their markets [6]. - The company plans to enhance product structure, ensure pricing systems, and maintain quality control throughout the product lifecycle to support distributors [6]. Group 4: Engagement and Promotion - The event featured a lottery where Zhang Xiaoqing's antibacterial six-piece set and silver arc series knife set were awarded as prizes, effectively promoting new products and engaging potential clients [8]. - The interactive experience allowed distributors and potential new clients to physically engage with the new products [8]. Group 5: Future Outlook - Zhang Xiaoqing aims to increase resource investment, expand quality terminal stores, and optimize market layout to build closer partnerships with distributors [10]. - The company is actively recruiting high-quality distributors with market expansion capabilities to explore new market opportunities [10]. - The collaboration between brands and channels is seen as crucial for driving growth in a competitive environment, with Zhang Xiaoqing demonstrating its strategic commitment to empowering channels and building a healthy ecosystem [10].