Core Insights - The report indicates that as of October 27, 2025, institutional investors hold a total of 546 million shares of Kidswant (301078.SZ), representing 43.31% of the company's total equity, with a decrease of 2.33 percentage points compared to the previous quarter [1] Institutional Holdings - A total of 9 institutional investors have disclosed their holdings in Kidswant, including Jiangsu Bosi Da Enterprise Information Consulting Co., Ltd., Nanjing Qianmiao Nuo Venture Capital Partnership, and others [1] - The overall institutional holding percentage has decreased by 2.33 percentage points from the last quarter [1] Public Fund and Social Security Fund Holdings - One public fund, the Southern CSI 1000 ETF, has reduced its holdings slightly compared to the previous quarter [2] - A total of 300 public funds have not disclosed their holdings this quarter, including notable funds like Penghua High-Quality Growth Mixed A and Huaxia CSI 1000 ETF [2] - One social security fund, the National Social Security Fund 411 Portfolio, has not disclosed its holdings this quarter [2] Foreign Investment - One new foreign institutional investor, Hong Kong Central Clearing Limited, has disclosed its holdings this quarter [2]

Key Points - The article discusses the recent developments in the Chinese capital market, including new stock listings, regulatory updates, and economic indicators [2][4][8][10]. Group 1: New Stock Listings - Four new stocks are listed today, including three unprofitable companies on the Sci-Tech Innovation Board, marking the first batch of newly registered companies in the Sci-Tech Growth Layer [7]. - The new stocks include DeLiJia with an issue price of 46.68 CNY per share and a subscription limit of 9,500 shares, and ZhongCheng Consulting with an issue price of 14.27 CNY per share and a subscription limit of 630,000 shares [7]. Group 2: Regulatory Updates - The China Securities Regulatory Commission (CSRC) released opinions on enhancing the protection of small and medium investors in the capital market, aiming to improve investor protection mechanisms [8]. - The CSRC also published a plan to optimize the Qualified Foreign Institutional Investor (QFII) system, introducing a green channel and simplified processes for certain foreign investors [10]. Group 3: Economic Indicators - From January to September, the total profit of large-scale industrial enterprises in China reached 53,732 billion CNY, a year-on-year increase of 3.2% [10]. - The profit breakdown shows that state-owned enterprises experienced a slight decline of 0.3%, while private enterprises saw a growth of 5.1% [10]. Group 4: Financial Forum Insights - At the 2025 Financial Street Forum, the People's Bank of China announced plans to resume public market operations for government bonds, indicating a positive outlook for the bond market [8]. - The Financial Regulatory Administration emphasized its commitment to preventing systemic financial risks and improving the efficiency of financial regulation [9].

Core Insights - The company reported a revenue of 7.349 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 8.10% [1] - The net profit attributable to shareholders was 209 million yuan, showing a significant year-on-year increase of 59.29% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 156 million yuan, reflecting a year-on-year growth of 68.34% [1] - The basic earnings per share stood at 0.166 yuan [1]

Core Viewpoint - The company, Kid King (301078.SZ), is advancing its international strategy and overseas business layout by planning to issue H-shares and apply for listing on the main board of the Hong Kong Stock Exchange [1] Group 1 - The company aims to create an internationally influential brand in the parent-child family service sector [1]

Core Points - The company announced the convening of its fourth board meeting on October 27, 2025, to review and approve several key proposals [1] - The board approved the nomination of Mr. Xu Yong'an as an independent director candidate for the fourth board [1] - Upon election as an independent director, Mr. Xu will serve on the board's audit committee and as the chairman of the nomination committee [1]

Major Events - Guizhou Moutai's chairman Zhang Deqin resigned due to work adjustments, with Chen Hua recommended as the new chairman [4] - Kid King plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy [5] - Postal Savings Bank received approval to establish a financial asset investment company with a registered capital of 10 billion RMB [6] - Seres announced that the maximum price for its H-share issuance will not exceed 131.5 HKD per share [7] - China Bank appointed Liu Chenggang as vice president [8] - ST Guangwu's stock will be delisted from risk warning and renamed to "Guanghui Logistics" [9] - Wireless Media's initial pricing for share transfer is set at 29.11 RMB per share [10] - Jiangshan Oupai's subsidiaries in Henan and Chongqing will cease operations due to insufficient orders and will transfer business to Zhejiang [11][12] - Zhenyu Technology plans to invest 2.11 billion RMB in precision component manufacturing and humanoid robot projects [13] - Jinyuan Co.'s general manager Lian Changyun resigned, with Qiu Yongping appointed as the new general manager [14] Performance Overview - CanSino reported a Q3 net profit of 27.93 million RMB, up 842.01% year-on-year [15] - Jiangshan Co. achieved a Q3 net profit of 86.73 million RMB, a significant increase of 11,890.01% year-on-year [16] - Yingshi Innovation's Q3 net profit decreased by 15.90% to 272 million RMB [17] - Chip Origin reported a Q3 net loss of 26.85 million RMB [18] - Tonghua Dongbao's Q3 net profit surged by 499.86% to 984 million RMB [19] - Hengrui Medicine's Q3 net profit increased by 9.53% to 1.301 billion RMB [20] - Zhongguang Lightning's Q3 net profit rose by 382.66% to 6.46 million RMB [21] - Ice River Network's Q3 net profit grew by 244.58% to 166 million RMB [22] - Daheng Technology's Q3 net profit skyrocketed by 1,960.72% to 71.48 million RMB [23] - Yanjin Puzhi's Q3 net profit increased by 33.55% to 232 million RMB [24] - Sichuan Gold's Q3 net profit reached 160 million RMB, up 184.38% year-on-year [26] - Sanbo Brain Science's Q3 net profit fell by 63.26% to 13.93 million RMB [27] - Hengli Petrochemical's Q3 net profit rose by 81.47% to 1.972 billion RMB [28] - Deepin Technology's Q3 net profit surged by 1,097.40% to 147 million RMB [29] - Huisheng Biological's Q3 net profit increased by 1,575.79% to 70.72 million RMB [30] - Gaode Infrared's Q3 net profit grew by 1,143.72% to 401 million RMB [31] - Qingdao Beer reported a Q3 net profit of 1.37 billion RMB, up 1.62% [32] - Nanjing Public Utilities' Q3 net profit soared by 2,492.12% to 84.62 million RMB [34] - Zhangyuan Tungsten's Q3 net profit increased by 118.56% to 75.02 million RMB [35] - Yongmaotai's Q3 net profit rose by 6,319.92% to 30.41 million RMB [36] - Northern Rare Earth's Q3 net profit increased by 69.48% to 610 million RMB [37] - Hunan Gold's Q3 net profit grew by 63.13% to 373 million RMB [38] - Wansheng Intelligent's Q3 net profit increased by 205.56% to 67.13 million RMB [39] - Saiwei Electronics reported a Q3 net profit of 1.576 billion RMB, up 2,199.10% [40] Financing Activities - Lingzhi Software is planning to acquire control of Kaimiride and raise matching funds [41] Major Contracts - High-speed Rail Electric has pre-qualified for a 62.39 million RMB urban rail transit project [42]

华泰联合证券有限责任公司 关于孩子王儿童用品股份有限公司 使用自有资金支付募投项目部分款项并以募集资金等额置 换的核查意见 华泰联合证券有限责任公司（以下简称"保荐机构"）作为孩子王儿童用品 股份有限公司（以下简称"孩子王"、"公司"）向不特定对象发行可转换公司 债券并在创业板上市及进行持续督导的保荐机构，根据《证券发行上市保荐业务 管理办法》《深圳证券交易所创业板股票上市规则》《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》等相关法律、法规和规范性 文件的要求，对孩子王变使用自有资金支付募投项目所需资金并以募集资金等额 置换的事项进行了审慎核查，并出具本核查意见。核查情况如下： 公司已对募集资金采取专户存储管理，公司及子公司与保荐机构华泰联合证 券有限责任公司和存放募集资金的开户银行签订了《募集资金三方监管协议》《募 集资金四方监管协议》《募集资金五方监管协议》。 二、使用自有资金支付募投项目部分款项并以募集资金等额置换的原因 公司在募投项目实施过程中，根据募集资金专款专用原则，全部支出均应从 募集资金专户直接支付划转。但在募投项目实施期间，公司存在使用自有资金支 付募投项目部分 ...

孩子王儿童用品股份有限公司 董事会秘书工作细则（草案） （H股发行上市后适用） 第一章 总则 （二） 具备履行职责所必需的财务、管理、法律等专业知识，熟悉行业经营情 况和行业知识； （二） 最近三年曾受到公司股票上市地证券监管机构行政处罚； （三） 被公司股票上市地证券监管机构确定为市场禁入者，并且禁入尚未解除 的人员； 第一条 为促进孩子王儿童用品股份有限公司（以下简称"公司"）的规范运作， 明确董事会秘书的职责权限，保护公司和股东的合法权益，根据《中华人民共和国 公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证 券法》"）以及《香港联合交易所有限公司证券上市规则》（以下简称"《香港上市 规则》"）等法律、法规、规章、规范性文件、公司股票上市地证券监管部门和证 券交易所（以下统称"公司股票上市地证券监管机构"）有关监管规则（以下统称 "公司股票上市地证券监管规则"）及《孩子王儿童用品股份有限公司章程》（以 下简称"《公司章程》"）的有关规定，制定本工作细则。 第二条 公司设董事会秘书一名。董事会秘书为公司的高级管理人员，对公司和 董事会负责。董事会秘书应遵守法律、法规、规章、规范 ...

孩子王儿童用品股份有限公司 董事会薪酬与考核委员会工作细则（草案） （H 股发行上市后适用） 第一章 总则 第一条 为进一步建立健全孩子王儿童用品股份有限公司（以下简称"公司"）董事 及高级管理人员的考核和薪酬管理细则，完善公司治理结构，根据《中华人民共和国公 司法》（以下简称"《公司法》"）、《香港联合交易所有限公司证券上市规则》（以下简称 "《香港上市规则》"）、公司股票上市地证券监管部门和证券交易所（以下统称"公司股 票上市地证券监管机构"）有关监管规则（以下统称"公司股票上市地证券监管规则"） 及《孩子王儿童用品股份有限公司章程》（以下简称"《公司章程》"）及其他有关法律、 行政法规、部门规章和其他规范性文件规定，公司特设立董事会薪酬与考核委员会，并 制定本工作细则。 第二条 薪酬与考核委员会负责制定董事、高级管理人员的考核标准并进行考核， 制定、审查董事、高级管理人员的薪酬决定机制、决策流程、支付与止付追索安排等薪 酬政策与方案。薪酬与考核委员会对董事会负责，向董事会报告工作。 第三条 本工作细则所称董事是指包括独立董事在内的全体董事；本工作细则所称 高级管理人员是指董事会聘任的总经理、副总经理、董 ...

孩子王儿童用品股份有限公司 信息披露管理制度（草案） （H 股发行上市后适用） 第一章 总则 第一条 为规范孩子王儿童用品股份有限公司（以下简称"本公司"或"公 司"）的信息披露行为，加强信息披露事务管理，保护投资者合法权益，根据《中 华人民共和国公司法》《中华人民共和国证券法》《上市公司信息披露管理办法》 《深圳证券交易所创业板股票上市规则》（以下简称《上市规则》）、《深圳证 券交易所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》《深圳证券交易所上市公司自律监管指引第5号——信息披露事务管理》、 《香港证券及期货条例》《香港联合交易所有限公司证券上市规则》（以下简称 《香港上市规则》）等法律、法规、规范性文件、公司股票上市地证券监管部门 和证券交易所（以下统称"公司股票上市地证券监管机构"）有关监管规则（以 下统称"公司股票上市地证券监管规则"）和《孩子王儿童用品股份有限公司章 程》（以下简称《公司章程》）的有关规定，特制定本制度。 第二条 本制度中提及"信息"系指所有对公司股票及其衍生品种交易价格 或者投资决策可能或者已经产生较大影响的信息或事项以及公司股票上市地证 券监管机构要求 ...