Core Insights - Xiangming Intelligent (301226.SZ) released its Q3 2025 report on October 27, 2025, indicating significant institutional investor interest in the company [1] Institutional Holdings - As of October 26, 2025, four institutional investors disclosed holdings in Xiangming Intelligent A-shares, totaling 62.2746 million shares, which represents 57.24% of the company's total equity [1] - The institutional holding percentage decreased by 0.77 percentage points compared to the previous quarter [1] Public Fund Activity - One public fund, Baodao Growth Intelligent Navigation Stock A, increased its holdings during this period, with an increase ratio of 0.73% [1] - A total of 30 public funds did not disclose their holdings this quarter, including notable funds such as CITIC Prudential Multi-Strategy Mixed (LOF) A and CITIC Prudential Economic Preferred Mixed A [1]

Core Viewpoint - Xiangming Intelligent (301226.SZ) reported a decline in revenue and net profit for the third quarter of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company achieved a revenue of 123 million yuan in the third quarter, a year-on-year decrease of 8.96% [1] - Net profit for the third quarter was 1.2685 million yuan, down 85.84% year-on-year [1] - For the first three quarters, the company reported a total revenue of 379 million yuan, reflecting a slight year-on-year growth of 0.54% [1] - Net profit for the first three quarters was 19.5823 million yuan, which represents a year-on-year decrease of 3.72% [1]

Core Viewpoint - Xiangming Intelligent (301226.SZ) reported a slight increase in revenue for the first three quarters of 2025, but a decline in net profit attributable to shareholders [1] Financial Performance - The company's operating revenue for the first three quarters reached 379 million yuan, representing a year-on-year growth of 0.54% [1] - The net profit attributable to shareholders was 19.5823 million yuan, showing a year-on-year decrease of 3.72% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 18.7913 million yuan, reflecting a year-on-year increase of 29.27% [1] - Basic earnings per share stood at 0.18 yuan [1]

Group 1 - The core viewpoint of the article highlights Xiangming Intelligent's third-quarter performance, showing a slight increase in revenue but a decrease in net profit and earnings per share [1] - For the first three quarters of 2025, the company reported revenue of approximately 379 million yuan, representing a year-on-year increase of 0.54% [1] - The net profit attributable to shareholders was approximately 19.58 million yuan, reflecting a year-on-year decrease of 3.72% [1] - The basic earnings per share were reported at 0.18 yuan, which is a decrease of 3.69% compared to the previous year [1] Group 2 - As of the report, Xiangming Intelligent has a market capitalization of 3.6 billion yuan [2]

Financial Performance - The company's operating revenue for the third quarter was ¥123,170,820, a decrease of 8.96% compared to the same period last year[5] - Net profit attributable to shareholders was ¥1,268,527.97, down 85.84% year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥3,326,211.72, a decrease of 50.42% compared to the previous year[5] - The company’s basic earnings per share were ¥0.0117, down 85.80% compared to the same period last year[5] - The net profit for the current period is CNY 19,436,057.45, a decrease from CNY 20,308,688.78 in the previous period, representing a decline of approximately 4.3%[19] - Operating profit increased to CNY 23,690,321.65 from CNY 20,692,928.83, reflecting a growth of about 9.7%[19] - The company reported a decrease in total profit to CNY 20,005,803.59 from CNY 21,210,210.01, which is a decline of about 5.7%[19] - Total comprehensive income for the current period reached CNY 20,737,607.67, slightly up from CNY 20,216,897.70, marking an increase of about 2.6%[19] - The basic and diluted earnings per share for the current period are both CNY 0.18, compared to CNY 0.1869 in the previous period, indicating a slight decrease[19] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,050,922,739.73, an increase of 2.72% from the end of the previous year[5] - The total assets of the company amounted to ¥1,050,922,739.73, compared to ¥1,023,115,794.85 in the previous period, showing an increase of approximately 2.00%[17] - The total liabilities and owners' equity reached ¥1,050,922,739.73, up from ¥1,023,115,794.85, indicating a growth of around 2.73%[17] - The total equity attributable to shareholders of the parent company was ¥911,577,681.65, an increase from ¥901,489,676.86, reflecting a growth of about 1.21%[17] - The company’s total liabilities amounted to ¥126,247,479.03, compared to ¥109,093,575.73 in the previous period, reflecting an increase of approximately 15.73%[18] Cash Flow - Cash flow from operating activities for the year-to-date was ¥63,139,474.81, an increase of 123.94%[5] - Cash flow from operating activities generated a net amount of CNY 63,139,474.81, compared to CNY 28,194,865.36 in the previous period, indicating a significant increase of approximately 123.8%[21] - The company received cash from operating activities totaling CNY 320,114,210.58, compared to CNY 305,367,267.10 in the previous period, reflecting an increase of approximately 4.5%[21] - Cash and cash equivalents at the end of the period totaled CNY 183,637,820.02, up from CNY 89,029,310.71, showing a substantial increase of approximately 106.6%[21] - Investment activities resulted in a net cash outflow of CNY 115,217,166.00, worsening from a net outflow of CNY 29,649,296.64 in the previous period[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 12,449[11] - The largest shareholder, Changzhou Xiangxing Information Technology Co., Ltd., holds 51.43% of shares, totaling 55,951,322 shares[11] - The total number of preferred shareholders is zero, indicating no preferred shares issued[12] - The company has no changes in restricted shares during the reporting period[13] - There are no significant changes in the top ten shareholders' participation in margin trading and securities lending[11] Operating Costs and Expenses - Total operating revenue for the current period reached ¥379,206,152.25, an increase from ¥377,181,244.89 in the previous period, reflecting a growth of approximately 0.27%[18] - Total operating costs decreased to ¥360,570,169.28 from ¥365,782,982.48, indicating a reduction of about 1.83%[18] - Operating costs specifically for goods sold were ¥297,718,329.61, down from ¥305,910,090.71, representing a decline of approximately 2.03%[18] - Research and development expenses increased to ¥24,056,615.44 from ¥18,934,360.53, marking a rise of about 27.06%[18] - Tax expenses increased to ¥3,484,168.19 from ¥2,778,220.85, representing a rise of about 25.43%[18] - The company reported a net investment income of ¥3,951,331.84, down from ¥4,516,856.26, indicating a decrease of approximately 12.50%[18] - The company reported a tax expense of CNY 569,746.14, down from CNY 901,521.23, which is a decrease of approximately 36.8%[19] Changes in Financial Position - The company reported a significant increase in trading financial assets, which rose by 110.65% to ¥241,122,316.91[10] - The company experienced a 195.46% increase in contract liabilities, totaling ¥8,352,737.80[10] - The company’s investment payments increased by 69.86% to ¥1,274,000,467.18 for the year-to-date[10] - The total amount of current assets is 745,725,417.59 RMB, compared to 726,134,903.51 RMB at the beginning of the period, showing an increase[15] - The cash and cash equivalents decreased from 242,208,715.41 RMB to 185,327,027.32 RMB, a decline of approximately 23.5%[15] - The trading financial assets increased significantly from 114,468,319.78 RMB to 241,122,316.91 RMB, representing an increase of about 110.8%[15] - Accounts receivable decreased slightly from 117,811,412.30 RMB to 114,372,923.42 RMB, a decrease of approximately 3.5%[15] - Inventory increased from 113,791,984.93 RMB to 115,425,747.64 RMB, an increase of about 1.4%[15]

证券代码：301226 证券简称：祥明智能 公告编号：2025-033 常州祥明智能动力股份有限公司 一、股东减持股份比例触及 1%整数倍的基本情况 | 1.基本情况 | | | | --- | --- | --- | | 信息披露义务人 1 | 常州祥华管理咨询有限公司（简称"祥华咨询"） | | | 住所 | 常州市延陵东路 | 508 号 | | 信息披露义务人 2 | | 常州祥兴信息技术有限公司（简称"祥兴信息"） | | 住所 | 武进区延陵东路 | 号 室 508 103 | | 权益变动时间 | 2025 年 10 月 祥华咨询于 | 16 日至 2025 年 10 月 21 日 年 月 日通过证券交易所集中交易方式 2025 10 16 | | | 累计减持公司股份 | 138,400，占公司总股本的 0.1272%；祥兴 | | | 信息于 2025 年 | 10 月 21 日通过证券交易所大宗交易方式累计 | | 权益变动过程 | 减持公司股份 | 股，占公司总股本的 1,093,700 1.0052%，本次 | | | | 权益变动不会对公司治理结构、股权结构及持续性经营产生 | | ...

Summary of Key Points Core Viewpoint - On October 21, Xiangming Intelligent saw a rise of 1.36%, closing at 32.15 yuan, with a total of 14 block trades amounting to 3,052.5 million yuan [1]. Trading Activity - The first four trades were executed at a price of 27.91 yuan, each involving 72,000 shares, totaling 200.95 million yuan per trade, with a discount rate of -13.19% [1][2][3]. - The fifth to ninth trades continued at the same price of 27.91 yuan, with varying volumes, including a trade of 77,000 shares for 214.91 million yuan, also at a -13.19% discount rate [2][3]. - The last five trades maintained the same price of 27.91 yuan, with the largest single trade being 125,000 shares for 348.88 million yuan, all reflecting a consistent discount rate of -13.19% [3]. Recent Performance - Over the past three months, the stock has recorded a total of 15 block trades, with a cumulative transaction value of 34.52 million yuan [4]. - In the last five trading days, the stock has increased by 1.39%, while the net outflow of main funds amounted to 15.18 million yuan [4].

Market Overview - The electric motor sector increased by 0.75% compared to the previous trading day, with Dayang Electric leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Stock Performance - Dayang Electric (002249) closed at 11.48, rising by 2.96% with a trading volume of 2.67 million shares and a transaction value of 3.037 billion [1] - Other notable performers include: - Kaizhong Precision (002823) at 16.74, up 2.07% [1] - Bafang Electric (603489) at 24.88, up 1.97% [1] - Huayang Intelligent (301502) at 47.77, up 1.90% [1] - Kangping Technology (300907) at 33.04, up 1.63% [1] Fund Flow Analysis - The electric motor sector experienced a net outflow of 252 million from institutional investors, while retail investors saw a net inflow of 103 million [2] - Notable stock fund flows include: - Jiangte Electric (002176) with a net inflow of 26.04 million from institutional investors [3] - Huayi Shares (300626) with a net inflow of 24.04 million from institutional investors [3] - Zhaowei Electromechanical (003021) with a net inflow of 13.15 million from institutional investors [3]

Core Viewpoint - Xiangming Intelligent (301226) reported that as of September 30, 2025, the total number of shareholders on the N-shareholder register (excluding merged margin trading accounts) is 11,245 households [1] Summary by Category - **Company Information** - Xiangming Intelligent has disclosed that the total number of shareholders is 11,245 households as of the specified date [1] - **Investor Communication** - The company responded to investor inquiries on the interactive platform regarding shareholder numbers [1]

祥明智能公告，2025年9月15日至2025年10月15日，常州祥华管理咨询有限公司通过集中竞价减持94.96 万股，占公司总股本0.8728%；2025年10月14日，控股股东常州祥兴信息技术有限公司通过大宗交易减 持14万股，占0.1287%；两者合计减持108.96万股，合计占1.0015%，持股比例由54.8898%降至 53.8883%，本次权益变动触及1%整数倍。 ...