Core Viewpoint - In the third quarter of 2025, Yinghuate reported a decline in revenue and net profit, indicating challenges in its financial performance compared to the previous year [1][2]. Financial Performance - The company's revenue for the first three quarters was 405 million yuan, a year-on-year decrease of 6.05% [1]. - The net profit attributable to shareholders was 20.07 million yuan, down 63.29% year-on-year [1]. - The non-recurring net profit was 14.74 million yuan, reflecting a decline of 68.26% compared to the previous year [1]. - Basic earnings per share stood at 0.34 yuan [2]. Profitability Metrics - The gross profit margin for the first three quarters was 23.42%, a decrease of 2.59 percentage points year-on-year [2]. - The net profit margin was 4.96%, down 7.73 percentage points from the same period last year [2]. - In Q3 2025, the gross profit margin was 25.01%, showing a year-on-year decline of 2.04 percentage points but a quarter-on-quarter increase of 1.89 percentage points [2]. - The net profit margin for Q3 was 6.61%, down 7.74 percentage points year-on-year and down 1.11 percentage points from the previous quarter [2]. Expense Analysis - Total operating expenses for Q3 2025 were 84.11 million yuan, an increase of 21.96 million yuan year-on-year [2]. - The expense ratio was 20.77%, up 6.35 percentage points compared to the same period last year [2]. - Sales expenses decreased by 19.62% year-on-year, while management expenses increased by 27.24%, R&D expenses rose by 50.93%, and financial expenses surged by 104.79% [2]. Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 5,949, a decrease of 1,392 shareholders or 18.96% from the end of the previous half [2]. - The average market value per shareholder increased from 286,100 yuan at the end of the previous half to 488,400 yuan, reflecting a growth of 70.70% [2]. Company Overview - Yinghuate, established on November 29, 2011, and listed on July 13, 2023, specializes in the development, production, and sales of energy-efficient and reliable scroll compressors [3]. - The company's main business revenue breakdown includes commercial air conditioning applications (36.22%), refrigeration applications (32.09%), heat pump applications (28.75%), and electric vehicle scroll compressors (2.77%) [3]. - Yinghuate is categorized under the mechanical equipment industry, specifically in general equipment and refrigeration and air conditioning equipment [3].

证券代码：301272 证券简称：英华特 公告编号：2025-061 苏州英华特涡旋技术股份有限公司 关于非独立董事辞任暨选举职工代表董事的公告 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。 一、非独立董事辞职情况 苏州英华特涡旋技术股份有限公司（以下简称"英华特"或"公司"）董事会 于近日收到公司非独立董事文茂华先生递交的书面辞职报告。因公司治理结构调整， 文茂华先生申请辞去公司第二届董事会非独立董事职务，辞去上述职务后，文茂华 先生将继续在公司担任其他职务。文茂华先生担任公司董事的原定任期为 2024 年 5 月 17 日至 2026 年 4 月 19 日，其辞职报告自送达公司董事会之日起生效。文茂华先 生的辞职不会导致公司董事会成员低于法定最低人数，不会影响公司董事会的正常 运作。 截至本公告披露日，文茂华先生直接持有公司股份 3,236,500 股（占公司总股 本的 5.53%），不存在应履行而未履行的承诺事项。 二、职工代表董事选举情况 为保证公司治理结构完整，根据《中华人民共和国公司法》《公司章程》等有 关规定，公司于 2025 年 10 月 2 ...

第二届董事会第十九次会议决议公告 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。 证券代码：301272 证券简称：英华特 公告编号：2025-058 一、董事会会议召开情况 苏州英华特涡旋技术股份有限公司 苏州英华特涡旋技术股份有限公司（以下简称"英华特"或"公司"）第二届 董事会第十九次会议于 2025 年 10 月 27 日在公司会议室以现场与通讯相结合的方式 召开，会议通知于 2025 年 10 月 17 日通过电子邮件方式送达全体董事。本次会议由 公司董事长陈毅敏先生召集并主持，会议应出席董事 9 人，实际出席董事 9 人，公 司高级管理人员列席了本次会议。本次会议的召集和召开符合《中华人民共和国公 司法》和《苏州英华特涡旋技术股份有限公司章程》的有关规定，会议合法有效。 二、董事会会议审议情况 经全体董事审议并表决，会议审议通过了以下议案： （一）审议通过《关于公司<2025 年第三季度报告>的议案》 根据 2024 年度股东会授权，经董事会审议，同意公司 2025 年中期利润分配方 案：拟以公司现有总股本 58,502,300 股剔除公司回购专用 ...

特别提示： 1、2025 年中期利润分配方案为：拟以公司现有总股本 58,502,300 股剔除公司 回购专用账户持有的股份 332,984 股后的 58,169,316 股(具体以实施权益分派股权 登记日扣除回购股份后的总股本）为基数，向全体股东每 10 股派发现金股利 0.8 元 （含税），合计派发现金股利 4,653,545.28 元（含税）,本次利润分配不送红股,不 以资本公积金转增股本，剩余未分配利润结转至以后年度分配。 2、公司本次现金分红方案不涉及《深圳证券交易所创业板股票上市规则》第 9.4 条相关规定的可能被实施其他风险警示的情形。 一、审议程序 苏州英华特涡旋技术股份有限公司（以下简称"公司"）于 2025 年 10 月 27 日 召开第二届董事会第十九次会议，审议通过了《关于公司 2025 年中期利润分配方案 的议案》。公司已于 2025 年 5 月 19 日召开 2024 年度股东会审议通过了《关于公司 2024 年度利润分配预案及 2025 年中期分红规划的议案》，授权董事会在满足现金分 红的条件下，公司可以在 2025 年半年度或第三季度结合未分配利润与当期业绩进行 分红。本次利润 ...

Financial Performance - Revenue for Q3 2025 was CNY 162,055,247.86, a decrease of 3.72% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 10,705,023.80, down 55.66% year-on-year[5] - Basic earnings per share decreased by 56.10% to CNY 0.18[5] - The company’s net profit for the year-to-date period decreased by 63.29% to CNY 20,070,081.64[5] - Total operating revenue decreased to ¥405,003,238.68 from ¥431,071,808.24, representing a decline of approximately 6.06% year-over-year[26] - Total profit decreased to ¥17,119,878.91 from ¥59,497,734.87, a decline of approximately 71.2% year-over-year[27] - Basic and diluted earnings per share fell to ¥0.34 from ¥0.93, a decrease of approximately 63.4% year-over-year[27] Assets and Liabilities - Total assets increased by 3.32% to CNY 1,253,926,936.65 compared to the end of the previous year[5] - As of September 30, 2025, the total assets amounted to ¥1,253,926,936.65, an increase from ¥1,213,610,911.62 at the beginning of the period, reflecting a growth of approximately 3.32%[22][24] - The total liabilities increased to ¥240,824,286.79 from ¥182,723,165.46, marking an increase of approximately 31.73%[23] - The company's equity attributable to shareholders decreased to ¥1,013,102,649.86 from ¥1,030,887,746.16, a decrease of about 1.73%[24] Cash Flow - Cash flow from operating activities decreased by 58.38% to CNY 15,953,124.03[5] - Net cash flow from operating activities dropped by 58.38% to CNY 15,953,124.03, mainly attributed to increased employee expenses[11] - Cash and cash equivalents at the end of the period decreased by 36.85% to CNY 41,344,810.44, primarily due to reduced cash flow from operating activities[11] - The cash inflow from investment activities decreased by 53.01% to CNY 643,557,628.74, mainly due to the redemption of financial products[11] - The cash outflow from investment activities decreased by 57.90% to CNY 773,822,309.20, primarily due to reduced purchases of financial products[11] - The net cash increase in cash and cash equivalents was CNY -156,416,955.44, a decrease of 66.90%[11] - The cash flow from investment activities resulted in a net outflow of CNY -130,264,680.46, a decrease of 72.19%[11] - Operating cash flow net amount was ¥15,953,124.03, down from ¥38,332,421.00, indicating a decrease of approximately 58.5% year-over-year[28] - Cash and cash equivalents at the end of the period were ¥41,344,810.44, down from ¥65,466,563.81, a decrease of about 36.8% year-over-year[29] Research and Development - Research and development expenses rose by 50.93% to CNY 49,881,817.35, reflecting increased investment in new product development[10] - Research and development expenses rose significantly to ¥49,881,817.35 from ¥33,049,311.60, reflecting a growth of approximately 51.1% year-over-year[26] - The total comprehensive income decreased by 62.18% to CNY 20,680,489.94, primarily due to increased R&D expenses[11] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 5,949[13] - The largest shareholder, Chen Yimin, holds 17.53% of the shares, totaling 10,255,100 shares[13] - The company plans to reduce its shares by up to 581,693 shares, representing 1% of the total share capital, within three months following the disclosure of the reduction plan[20] Investments and Mergers - The company completed its first capital contribution to an industrial fund, resulting in a long-term equity investment of CNY 16,000,000.00[10] - The company completed the absorption merger of its wholly-owned subsidiary, Changshu Yinghuate Environmental Technology Co., Ltd., with the merger finalized on July 24, 2025[18] - The company has invested ¥40,000,000 in a new partnership fund, holding a 40% share in the Changshu Xieli Yinghuate Venture Capital Partnership, which has a total subscribed capital of ¥100,000,000[19] Accounts Receivable and Inventory - The company reported a significant increase in accounts receivable by 32.12% to CNY 82,790,506.53, attributed to increased credit sales[10] - The company reported accounts receivable of ¥82,790,506.53, up from ¥62,662,177.49, indicating an increase of approximately 32.06%[22] - The company's inventory increased to ¥67,000,797.80 from ¥61,733,519.51, reflecting an increase of about 8.06%[22]

Core Viewpoint - The company Yinghuate has shown a slight increase in stock price and is recognized as a "specialized and innovative" small giant enterprise, indicating its strong market position and innovation capabilities [1][2]. Company Overview - Yinghuate specializes in the research, development, production, and sales of scroll compressors, primarily used in heat pumps, commercial air conditioning, and refrigeration equipment [3]. - The company was established on November 29, 2011, and went public on July 13, 2023. Its main business revenue composition includes: 36.22% from commercial air conditioning, 32.09% from refrigeration, 28.75% from heat pumps, and 2.77% from electric vehicle applications [7]. Market Position and Performance - Yinghuate has been recognized as a national-level "specialized and innovative" small giant enterprise, which enhances its competitiveness and stability in the supply chain [2]. - In 2022, the company saw a significant increase in orders from Russia due to geopolitical factors and expanded its market presence in India, with the top five export countries being Russia, Brazil, India, Slovakia, and the United States, accounting for 80.16% of export revenue [3]. Financial Performance - As of the first half of 2025, Yinghuate reported a revenue of 243 million yuan, a year-on-year decrease of 7.54%, and a net profit of 9.37 million yuan, down 69.33% year-on-year [8]. - The company has distributed a total of 64.74 million yuan in dividends since its A-share listing [9]. Shareholder and Market Activity - As of October 20, 2023, the number of shareholders decreased by 2.42% to 5,557, while the average circulating shares per person increased by 2.48% to 5,637 [8]. - The stock has experienced a net outflow of 12.82 million yuan from major investors, indicating a reduction in holdings over the past two days [4][5].

Summary of the Conference Call for Yinghuate Industry Overview - The data center market is experiencing significant expansion, with a global increase in water-cooled units projected to reach a market size of 60 billion RMB, with compressors accounting for approximately 20 billion RMB [2][4][14] - The domestic market has substantial potential for domestic substitution, particularly in the scroll compressor segment, which is expected to grow by 35% year-on-year in 2024, with high growth rates anticipated to continue through 2026 [2][5] Company Insights - Yinghuate has significantly increased its R&D investment, with the R&D expense ratio rising from 3%-4% before going public to over 10% currently, indicating a proactive approach in the AIDC (Artificial Intelligence Data Center) sector [2][5][6] - The company has made notable technological advancements, transitioning from traditional scroll compressors to magnetic levitation centrifugal compressors and variable frequency scroll compressors, marking a breakthrough in new application areas, particularly in liquid cooling technology for data centers [3][6][10] - The introduction of new products, such as the YH720D1 model, has begun generating revenue, with expectations for significant income growth due to its higher price point compared to standard products [4][14] Key Advantages and Trends - Liquid cooling technology offers multiple advantages in data centers, including higher cooling efficiency compared to traditional air cooling systems, compliance with lower PUE (Power Usage Effectiveness) policies, and lower total lifecycle costs [7] - Magnetic levitation centrifugal compressors demonstrate significant energy savings, exceeding 40% compared to screw compressors, and while initial costs are higher, their long-term operational costs are more competitive [8] - The scroll compressor market is seeing a shift as domestic manufacturers like Yinghuate rise to challenge foreign monopolies, enhancing competition within the industry [8][12] Financial Projections - Despite a projected decline in net profit for 2024, the profit foundation remains solid, with expectations of a profit of approximately 60 million RMB in 2025 and an increase to 110 million RMB in 2026 [4][13][14] - The company is expected to maintain a profit margin around 10%, with the worst period likely behind, as major R&D investments are nearing completion [13] Future Development Factors - Key factors for Yinghuate's future growth include continued R&D investment to maintain technological leadership, capitalizing on the rapid expansion of the data center market, increasing market share of high-efficiency products, and optimizing financial structures to enhance profit margins [9]

Group 1 - The core viewpoint of the news is the performance and market position of Yinghuate, which saw a 5.05% increase in stock price, reaching 48.88 CNY per share, with a total market capitalization of 2.86 billion CNY [1] - Yinghuate specializes in the development, production, and sales of energy-efficient and low-noise scroll compressors, with its main business revenue distribution being 36.22% from commercial air conditioning, 32.09% from refrigeration, 28.75% from heat pumps, 2.77% from electric vehicles, and 0.17% from other applications [1] - The company was established on November 29, 2011, and went public on July 13, 2023, indicating its recent entry into the stock market [1] Group 2 - Among the top shareholders of Yinghuate, the Noan Multi-Strategy Mixed A Fund (320016) entered the top ten in the second quarter, holding 288,000 shares, which is 0.92% of the circulating shares, with an estimated profit of approximately 676,800 CNY [2] - The Noan Multi-Strategy Mixed A Fund has a total scale of 1.399 billion CNY and has achieved a return of 63.06% this year, ranking 289 out of 8162 in its category [2] - The fund manager, Kong Xianzheng, has a tenure of 4 years and 330 days, with the best fund return during this period being 74.29% [3]

Core Viewpoint - The company Yinghuate has shown a slight increase in stock price and has been recognized as a "specialized, refined, distinctive, and innovative" enterprise, which is a significant honor for small and medium-sized enterprises in China [1][2]. Company Overview - Yinghuate specializes in the research, development, production, and sales of scroll compressors, primarily used in heat pumps, commercial air conditioning, and refrigeration equipment [3]. - The company was founded on November 29, 2011, and went public on July 13, 2023. Its main business revenue composition includes: commercial air conditioning applications (36.22%), refrigeration and freezing applications (32.09%), heat pump applications (28.75%), and electric vehicle scroll compressors (2.77%) [7]. Market Performance - As of October 20, Yinghuate's stock price increased by 0.78%, with a trading volume of 30.66 million yuan and a market capitalization of 2.722 billion yuan [1]. - The company has experienced a decrease in net profit and revenue for the first half of 2025, with revenue of 243 million yuan, down 7.54% year-on-year, and a net profit of 9.37 million yuan, down 69.33% year-on-year [8]. Export and Market Expansion - In 2022, due to geopolitical factors, orders from Russia increased significantly, and the company has also intensified its market expansion efforts in India, leading to a notable rise in export revenues [3]. - The top five export countries in 2022 were Russia, Brazil, India, Slovakia, and the United States, accounting for 80.16% of the company's total export revenue [3]. Technical Analysis - The average trading cost of Yinghuate's stock is 46.42 yuan, with recent trends indicating a rapid exit of shares. The stock is approaching a resistance level of 47.80 yuan, suggesting potential for a price correction if this level is not surpassed [6].

Group 1 - The company Yinghuate (301272) reported that as of October 10, 2025, the number of shareholders is 5,695 [1]