Core Viewpoint - Meishuo Technology (301295) emphasizes the importance of enhancing company quality and shareholder value through various strategies, including dividends and market resource expansion, in response to investor inquiries regarding market value management [1] Group 1: Company Response - The company acknowledges the investor's suggestion regarding share buybacks and other strategies to improve company quality and market value [1] - Meishuo Technology highlights its commitment to enhancing operational quality and core competitiveness to align company value with shareholder value [1] - The company encourages investors to refer to official announcements for detailed information on related matters [1]

证券代码：301295 证券简称：美硕科技 公告编号：2025-041 浙江美硕电气科技股份有限公司 关于变更企业电子邮箱及董事会秘书电子邮箱的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 浙江美硕电气科技股份有限公司（以下简称"公司"）为进一步做好投资者 关系管理工作，结合公司实际经营管理需要，即日起启用新的电子邮箱，同时变 更董事会秘书电子邮箱。具体情况公告如下： | 变更内容 | 变更前 | 变更后 | | --- | --- | --- | | 企业电子邮箱 | mszqb@meishuo-relay.com | mszqb@msrelay.com | | 董事会秘书电子邮箱 | mszqb@meishuo-relay.com | mszqb@msrelay.com | 除上述变更内容外，公司注册地址、联系电话、公司网址等其他联系方式均 保持不变。敬请广大投资者注意，由此带来的不便，敬请谅解。 特此公告。 浙江美硕电气科技股份有限公司 董事会 2025 年 11 月 6 日 1 ...

Core Viewpoint - Meishuo Technology experienced a decline of 2.41% on October 30, with a trading volume of 41.09 million yuan, indicating a potential shift in investor sentiment and market dynamics [1] Financing Summary - On October 30, Meishuo Technology had a financing buy-in amount of 3.82 million yuan and a financing repayment of 5.47 million yuan, resulting in a net financing buy of -1.65 million yuan [1] - The total financing and margin trading balance for Meishuo Technology reached 180 million yuan, with the financing balance accounting for 22.21% of the circulating market value, indicating a high level of leverage compared to the past year [1] - The company had no short-selling activity on October 30, with a short-selling balance of 0.00 yuan, reflecting a lack of bearish sentiment among investors [1] Company Overview - Meishuo Technology, established on February 6, 2007, and listed on June 28, 2023, specializes in the research, production, and sales of relay control components and fluid electromagnetic valves, with applications in various sectors including home appliances and automotive manufacturing [2] - As of September 30, the company reported a revenue of 535 million yuan for the first nine months of 2025, representing a year-on-year growth of 20.91%, while the net profit attributable to shareholders decreased by 23.69% to 20.49 million yuan [2] Shareholder and Dividend Information - Since its A-share listing, Meishuo Technology has distributed a total of 60.19 million yuan in dividends [3] - As of September 30, 2025, the number of shareholders decreased by 28.22% to 5,915, while the average circulating shares per person increased by 39.32% to 4,970 shares [2][3]

Core Viewpoint - Meishuo Technology (301295.SZ) reported a revenue increase of 20.91% year-on-year for the first three quarters of 2025, reaching 535 million yuan, while net profit attributable to shareholders decreased by 23.69% to 20.4875 million yuan [1] Financial Performance - Revenue for the first three quarters of 2025 was 535 million yuan, reflecting a year-on-year growth of 20.91% [1] - Net profit attributable to shareholders was 20.4875 million yuan, showing a decline of 23.69% year-on-year [1] - Net profit excluding non-recurring gains and losses was 20.1667 million yuan, down 24.25% year-on-year [1] - Basic earnings per share stood at 0.20 yuan [1]

Company Performance - Meishuo Technology reported a revenue of approximately 535 million yuan for the first three quarters of 2025, representing a year-on-year increase of 20.91% [1] - The net profit attributable to shareholders was approximately 20.49 million yuan, showing a year-on-year decrease of 23.69% [1] - Basic earnings per share were 0.2 yuan, down 25.93% year-on-year [1] Market Context - As of the report, Meishuo Technology has a market capitalization of 2.8 billion yuan [2] - The A-share market has surpassed 4000 points, indicating a significant market resurgence after a decade of stagnation, with technology leading the market's new "slow bull" pattern [2]

Revenue and Profitability - Revenue for Q3 2025 reached ¥155,693,139.53, an increase of 7.24% year-over-year, while year-to-date revenue totaled ¥535,313,117.36, up 20.91% compared to the same period last year[5] - Net profit attributable to shareholders decreased by 54.22% in Q3 2025 to ¥3,048,936.76, and year-to-date net profit fell by 23.69% to ¥20,487,476.47[5] - Basic and diluted earnings per share for Q3 2025 were both ¥0.03, representing a decline of 57.14% compared to the same quarter last year[5] - Total operating revenue for the current period reached ¥535,313,117.36, an increase of 20.9% compared to ¥442,725,703.43 in the previous period[20] - Net profit for the current period was ¥20,487,476.47, a decrease of 23.6% from ¥26,847,187.51 in the previous period[21] - Operating profit decreased to ¥19,996,260.24, down 28.5% from ¥27,982,190.22 year-over-year[21] - Basic and diluted earnings per share were both ¥0.20, down from ¥0.27 in the previous period[21] Assets and Liabilities - Total assets as of September 30, 2025, amounted to ¥1,310,469,196.37, reflecting a 4.40% increase from the end of the previous year[5] - Current assets totaled CNY 1,071,864,985.08, up from CNY 1,017,091,878.92, indicating an increase of about 5.4%[17] - Total liabilities reached CNY 356,315,451.51, compared to CNY 297,345,336.49 at the start of the period, marking an increase of around 19.8%[18] - The company's total equity stood at CNY 954,153,744.86, slightly down from CNY 957,858,268.39, indicating a decrease of about 0.3%[19] Cash Flow - Cash flow from operating activities showed a net outflow of -¥19,117,464.18, a decrease of 70.05% year-to-date[5] - Cash flow from operating activities improved by 70.05%, resulting in a net cash flow of -¥19,117,464.18, compared to -¥63,823,346.38 in the previous year[10] - Cash flow from financing activities generated a net increase of ¥92,035,287.19, a significant turnaround from -¥36,991,524.48 in the same period last year, mainly due to increased loans[10] - Cash flow from investing activities resulted in a net outflow of ¥71,939,766.06, worsening from -¥36,893,396.47 in the prior period[22] Borrowings and Expenses - The company reported a significant increase in short-term borrowings, which rose by 2128.38% to ¥119,235,804.70, primarily due to increased loans[8] - The company experienced a 385.14% increase in interest expenses, totaling ¥913,102.95, attributed to higher loan interest rates[9] - Payments for fixed assets and intangible assets rose by 70.33% to ¥11,844,102.40, compared to ¥6,953,669.44 in the same period last year, indicating increased capital expenditure[10] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 5,915, with no preferred shareholders having restored voting rights[13] - The largest shareholder, Huang Xiaohu, holds 20.80% of the shares, amounting to 20,964,397 shares[13] Inventory and Receivables - The company recorded a 66.21% increase in asset impairment losses, amounting to -¥7,066,899.82, due to increased inventory write-downs[9] - Accounts receivable decreased to CNY 210,863,839.25 from CNY 252,018,714.48, a decline of about 16.3%[17] - Inventory rose to CNY 171,857,890.64 from CNY 151,003,708.52, showing an increase of approximately 13.7%[17] Cash and Cash Equivalents - The company’s cash and cash equivalents at the end of the period were ¥53,139,831.81, a decrease of 89.95% from ¥528,957,187.36 in the previous year, primarily due to significant investments made in 2024[10] - Cash and cash equivalents increased to CNY 626,818,821.02 from CNY 555,083,954.93, representing a growth of approximately 12.9%[17] Tax and Other Income - The company experienced a 39.84% decrease in cash received from tax refunds, totaling ¥2,488,672.31, down from ¥4,136,773.28, mainly due to reduced export tax rebates[10] Audit Status - The company has not undergone an audit for the third quarter financial report[24]

Core Viewpoint - Meishuo Technology (301295) closed at 28.52 yuan on October 15, 2025, with a 3.3% increase and a turnover rate of 4.25% [1] Trading Information - On October 15, 2025, the net outflow of main funds was 1.7431 million yuan, while the net outflow of speculative funds was 1.8304 million yuan, and retail investors had a net inflow of 3.5735 million yuan [1][1][1] Shareholder Information - The company has chosen not to disclose the number of shareholders on the "Interactive Easy" platform, stating that it will follow the regulations of the CSRC and Shenzhen Stock Exchange to disclose this information in regular reports [1][1][1]

Company Overview - Meishuo Technology, established on February 6, 2007, is located in Leqing Economic Development Zone, Zhejiang Province, and was listed on June 28, 2023 [1] - The company specializes in the research, production, and sales of relay control components and fluid electromagnetic valve products, with main revenue sources being relays (90.71%), fluid electromagnetic valves (8.04%), and others (1.25%) [1] Financial Performance - For the first half of 2025, Meishuo Technology achieved operating revenue of 380 million yuan, representing a year-on-year growth of 27.58% [2] - The net profit attributable to shareholders for the same period was 17.44 million yuan, showing a year-on-year decrease of 13.62% [2] Shareholder and Market Activity - As of June 30, 2025, the number of shareholders for Meishuo Technology was 8,241, a decrease of 0.57% from the previous period, while the average circulating shares per person increased by 0.57% to 3,567 shares [2] - The company has distributed a total of 60.19 million yuan in dividends since its A-share listing [3] Financing and Trading Activity - On September 23, Meishuo Technology's stock price fell by 0.60%, with a trading volume of 52.05 million yuan [1] - The financing buy-in amount for the same day was 5.30 million yuan, while the financing repayment was 5.55 million yuan, resulting in a net financing outflow of 250,300 yuan [1] - The total financing and securities lending balance as of September 23 was 202 million yuan, accounting for 23.06% of the circulating market value, indicating a high level of financing activity [1]

Market Overview - The power equipment sector experienced a decline of 0.98% on the previous trading day, with Meishuo Technology leading the drop [1] - The Shanghai Composite Index closed at 3831.66, down 1.15%, while the Shenzhen Component Index closed at 13075.66, down 1.06% [1] Stock Performance - Notable gainers in the power equipment sector included: - Hangdian Co., Ltd. (603618) with a closing price of 9.19, up 10.06% [1] - Xinhongtai (603016) at 29.78, up 10.01% [1] - Far East Holdings (600869) at 8.18, up 9.95% [1] - Other stocks with positive performance included: - Dongfang Electronics (000682) at 11.78, up 3.51% [1] - Sanhui Electric (002857) at 24.82, up 2.48% [1] Capital Flow - The power equipment sector saw a net outflow of 1.55 billion yuan from institutional investors, while retail investors contributed a net inflow of 1.525 billion yuan [2] - The capital flow for specific stocks showed: - Far East Holdings (600869) had a net inflow of 1.62 billion yuan from institutional investors [3] - Dongfang Cable (603606) recorded a net inflow of 1.01 billion yuan [3] Individual Stock Analysis - Meishuo Technology (301295) faced a significant decline of 5.47%, closing at 29.88 [2] - ST Huicheng (002168) dropped by 4.96%, closing at 4.02 [2] - The stock performance of other companies included: - Zhiyang Innovation (688191) down 4.56% at 28.68 [2] - New Wind Power (688663) down 4.40% at 37.83 [2]

Company Overview - Meishuo Technology Co., Ltd. is located in Leqing Economic Development Zone, Zhejiang Province, established on February 6, 2007, and listed on June 28, 2023 [1] - The company specializes in the research, production, and sales of relay control components and fluid electromagnetic valve products, with applications in home appliances, smart homes, automotive manufacturing, smart meters, industrial control, and communication facilities [1] - The main business revenue composition includes relays at 90.71%, fluid electromagnetic valves at 8.04%, and others at 1.25% [1] Stock Performance - On September 18, Meishuo Technology's stock fell by 5.03%, closing at 30.02 CNY per share, with a trading volume of 69.16 million CNY and a turnover rate of 7.61%, resulting in a total market capitalization of 3.026 billion CNY [1] Fund Holdings - Huian Fund has a significant holding in Meishuo Technology, with its Huian Multi-Strategy Mixed A Fund (005109) holding 85,600 shares, accounting for 1.42% of the fund's net value, ranking as the fourth largest holding [2] - The fund has reported a floating loss of approximately 136,100 CNY as of the latest data [2] Fund Performance - The Huian Multi-Strategy Mixed A Fund (005109) was established on November 22, 2017, with a current scale of 87.655 million CNY [2] - Year-to-date, the fund has achieved a return of 43.34%, ranking 1,419 out of 8,172 in its category; over the past year, it has returned 74.08%, ranking 1,495 out of 7,980; and since inception, it has returned 98.55% [2]