Core Viewpoint - Fushite's stock price has shown significant growth this year, with a year-to-date increase of 55.68%, and recent trading activity indicates strong investor interest and liquidity [2]. Group 1: Stock Performance - As of October 28, Fushite's stock price rose by 2.01% to 34.00 CNY per share, with a trading volume of 75.24 million CNY and a turnover rate of 7.12%, resulting in a total market capitalization of 3.54 billion CNY [1]. - The stock has experienced a 6.95% increase over the last five trading days, an 8.01% increase over the last 20 days, and a 30.12% increase over the last 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, Fushite achieved a revenue of 389 million CNY, representing a year-on-year growth of 21.31%, and a net profit attributable to shareholders of 66.48 million CNY, reflecting a 29.37% increase [2]. - Since its A-share listing, Fushite has distributed a total of 56.80 million CNY in dividends [3]. Group 3: Shareholder Structure - As of September 30, 2025, Fushite had 9,577 shareholders, an increase of 5.50% from the previous period, with an average of 3,317 circulating shares per shareholder, a decrease of 5.21% [2]. - Notable new institutional shareholders include Fuguo New Power Flexible Allocation Mixed A, Fuguo Cultural Health Stock A, and Fuguo Xingyuan Preferred 12-Month Holding Period Mixed A, among others [3].

Core Insights - Fushite (301446.SZ) reported its Q3 2025 results on October 27, 2025, indicating a total of 4 institutional investors holding shares, amounting to 3.02% of the total share capital [1] Institutional Holdings - The total shareholding by institutional investors increased by 2.12 percentage points compared to the previous quarter [1] - The institutional investors include China Construction Bank - Fuguo New Power Flexible Allocation Mixed Securities Investment Fund, Industrial and Commercial Bank of China - Fuguo Cultural and Health Stock Fund, Industrial Bank - Fuguo Xingyuan Preferred 12-Month Holding Period Mixed Fund, and Agricultural Bank of China - Great Wall Safe Return Mixed Fund [1] Public Fund Disclosures - Four new public funds were disclosed this quarter, including Fuguo New Power Flexible Allocation Mixed A, Fuguo Cultural and Health Stock A, Fuguo Xingyuan Preferred 12-Month Holding Period Mixed A, and Great Wall Safe Return Mixed A [1] - A total of 35 public funds were not disclosed this quarter, including Nuoan Multi-Strategy Mixed A, Jianxin Flexible Allocation Mixed A, GF Baifa Big Data Growth Mixed A, Guojin Quantitative Multi-Factor A, and Guojin Quantitative Selected A [1]

Core Insights - The company reported a revenue of 389 million yuan for the first three quarters of 2025, representing a year-on-year growth of 21.31% [1] - The net profit attributable to shareholders reached 66 million yuan, showing a year-on-year increase of 29.37% [1] - Basic earnings per share were 0.6393 yuan, reflecting a year-on-year growth of 12.16% [1]

证券代码：301446 证券简称：福事特 公告编号：2025-050 江西福事特液压股份有限公司 第二届监事会第十一次会议决议公告 本公司及监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、监事会会议召开情况 江西福事特液压股份有限公司（以下简称"公司"）第二届监事会第十一次会议于 2025 年 10 月 24 日在公司会议室以现场会议的方式召开，本次监事会会议于 2025 年 10 月 19 日 以邮件、电话等方式通知了全体监事。会议由公司监事会主席鲜军先生召集并主持，会议应 到监事 3 人，实到监事 3 人。本次会议召集、召开程序符合《中华人民共和国公司法》等法 律、行政法规、规章、规范性文件及《江西福事特液压股份有限公司章程》的有关规定。 二、监事会会议审议情况 1、审议通过了《关于公司 2025 年第三季度报告的议案》 经审核，监事会认为：公司董事会编制和审核的 2025 年第三季度报告的程序符合法律、 行政法规和中国证监会的规定，报告内容真实、准确、完整地反映了公司的实际情况，不存 在任何虚假记载、误导性陈述或者重大遗漏。 具体内容详见公司同日披露于巨潮资 ...

证券代码：301446 证券简称：福事特 公告编号：2025-049 江西福事特液压股份有限公司 第二届董事会第十二次会议决议公告 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 江西福事特液压股份有限公司（以下简称"公司"）第二届董事会第十二次会议于 2025 年 10 月 24 日在公司会议室以现场结合通讯的方式召开，本次董事会会议于 2025 年 10 月 19 日以邮件、电话等方式通知了全体董事。会议由公司董事长彭香安先生召集并主持，会 议应到董事 7 人，实到董事 7 人，公司监事列席了会议。本次会议召集、召开程序符合《中 华人民共和国公司法》等法律、行政法规、规章、规范性文件及《江西福事特液压股份有限 公司章程》的有关规定。 二、董事会会议审议情况 1、审议通过了《关于公司 2025 年第三季度报告的议案》 经审议，董事会认为公司 2025 年第三季度报告的内容真实、准确、完整地反映了公司 的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 董事会审计委员会已审议通过了该议案，具体内容详见公司同日披露于巨潮资讯网 （h ...

Financial Performance - The company's revenue for Q3 2025 reached ¥132,734,295.27, representing a 36.24% increase compared to the same period last year[5] - Net profit attributable to shareholders was ¥17,089,772.72, up 40.80% year-on-year[5] - The basic earnings per share increased to ¥0.1643, reflecting a growth of 36.94% compared to the previous year[5] - Total operating revenue for the current period reached ¥389,141,377.05, a 21.3% increase from ¥320,795,662.91 in the previous period[21] - Net profit for the current period was ¥68,859,445.66, representing a 28.8% increase compared to ¥53,487,894.87 in the previous period[22] - The net profit attributable to shareholders of the parent company was ¥66,482,319.78, up from ¥51,389,590.15, marking a 29.4% increase[22] - Basic and diluted earnings per share for the current period were both ¥0.6393, compared to ¥0.5700 in the previous period[22] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥1,419,756,217.60, a 1.87% increase from the end of the previous year[5] - Total assets amounted to ¥1,419,756,217.60, an increase from ¥1,393,637,933.45 in the previous period[20] - Total liabilities decreased to ¥223,734,995.86 from ¥239,167,653.26, reflecting a reduction of approximately 6.5%[20] - Total equity attributable to shareholders of the parent company increased to ¥1,180,241,944.52 from ¥1,131,758,246.32, a growth of 4.3%[20] Cash Flow - The company reported a significant decrease in cash flow from operating activities, with a net cash flow of ¥15,247,741.30, down 74.32% year-to-date[5] - Operating cash flow for the current period is ¥15,247,741.30, a decrease of 74.3% compared to ¥59,369,159.65 in the previous period[24] - Cash inflow from operating activities totals ¥283,562,507.15, down from ¥384,560,321.85 in the previous period[24] - Total cash inflow from investment activities is ¥644,615,843.00, significantly higher than ¥34,606.15 in the previous period[24] - Net cash flow from investment activities is -¥214,419,935.58, an improvement from -¥352,005,284.71 in the previous period[24] - Cash outflow from financing activities totals ¥35,252,562.31, slightly lower than ¥38,667,057.54 in the previous period[25] - The net increase in cash and cash equivalents is -¥230,357,348.84, compared to -¥323,700,431.89 in the previous period[25] - The ending balance of cash and cash equivalents is ¥185,927,026.35, down from ¥283,743,382.92 in the previous period[25] - Cash received from the recovery of investments is ¥621,456,530.56, with no previous period data available[24] - Cash paid for investments is ¥800,999,698.09, a significant increase from ¥297,281,000.00 in the previous period[24] - Cash paid to employees is ¥94,791,047.21, an increase from ¥80,685,406.81 in the previous period[24] Shareholder Information - Total number of common shareholders at the end of the reporting period is 9,577[13] - The largest shareholder, Peng Xiangan, holds 46.50% of shares, totaling 48,360,000 shares[13] - The total number of restricted shares at the end of the period is 72,228,000, down from 78,000,000 at the beginning of the period[15] - The company has no preferred shareholders or significant changes in preferred stock ownership[15] - The company has a total of 5,772,000 shares released from restrictions during the period[15] - There are no significant changes in the top 10 shareholders' participation in margin trading[14] Expenses - Research and development expenses increased by 40.41% to ¥18,197,921.32, indicating a focus on innovation[10] - Sales expenses rose by 37.26% to ¥24,060,737.71, driven by increased market expansion efforts[10] - Total operating costs increased to ¥330,023,250.37, up 23.6% from ¥266,890,949.15 in the previous period[21] - Research and development expenses rose to ¥18,197,921.32, up from ¥12,960,329.20, indicating a 40.5% increase[21] - Other income for the current period was ¥16,505,161.49, compared to ¥10,119,708.03 in the previous period, reflecting a 63.1% increase[21] Inventory and Fixed Assets - Inventory levels increased by 40.81% to ¥80,659,372.40, reflecting a strategy to bolster stock in response to market expansion[9] - Inventory increased to ¥80,659,372.40 from ¥57,281,784.59, representing an increase of approximately 41%[18] - Fixed assets rose to ¥396,557,626.68 from ¥300,732,650.68, an increase of about 32%[18]

Market Overview - As of October 23, the Shanghai Composite Index closed at 3922.41 points, up 8.65 points, with a gain of 0.22% [1] - The Shenzhen Component Index closed at 13025.45 points, up 28.84 points, also with a gain of 0.22% [1] - The ChiNext Index closed at 3062.16 points, up 2.84 points, with a gain of 0.09% [1] High Turnover Stocks - A total of 72 A-shares had a turnover rate exceeding 20% on October 23 [1] - Notable stocks with high turnover rates include: - Haocreator (301668) with a turnover rate of 65.53% and a price increase of 13.61% [1] - Yunhan Chip City (301563) with a turnover rate of 61.56% and a price increase of 13.84% [1] - Jianfa Zhixin (301584) with a turnover rate of 59.71% and a price increase of 20.00% [1] Additional High Turnover Stocks - Other stocks with significant turnover rates include: - Aifenda (301575) with a turnover rate of 47.07% and a price increase of 6.93% [1] - Beiken Energy (002828) with a turnover rate of 45.66% and a price decrease of 2.74% [1] - North Long Dragon (301357) with a turnover rate of 37.98% and a price increase of 3.69% [1]

Core Viewpoint - The overall performance of the stock market showed a slight decline, with the Shanghai Composite Index dropping by 0.07% while remaining above the 3900-point mark. However, the engineering machinery sector experienced significant gains, indicating a positive outlook for this industry driven by increasing demand and export growth [1]. Industry Summary - The engineering machinery sector saw a notable increase in stock prices, with key companies like Iron Tuo Machinery, Wanda Bearings, and Fushite rising over 10%. The construction machinery sector also performed well, with Southern Road Machinery hitting the daily limit [1]. - According to the China Construction Machinery Industry Association, the import and export trade volume of China's engineering machinery reached $5.505 billion in September 2025, marking a year-on-year growth of 29.1%. The import value was $234 million, up 18.5%, while the export value was $5.271 billion, reflecting a 29.6% increase [1]. - Zheshang Securities noted that the upward trend in engineering machinery exports is expected to continue, driven by increased market share of domestic manufacturers overseas. The domestic market is benefiting from rising demand in agriculture, forestry, and municipal sectors, as well as ongoing needs for mining and water conservancy machinery [1].

Core Viewpoint - The engineering machinery sector experienced a rise of 0.76% on October 22, with Tietuo Machinery leading the gains, while the overall market indices showed slight declines [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3913.76, down 0.07% [1] - The Shenzhen Component Index closed at 12996.61, down 0.62% [1] Group 2: Individual Stock Performance - Tietuo Machinery (code: 920706) closed at 28.59, up 14.50% with a trading volume of 190,200 shares and a transaction value of 579 million yuan [1] - Fushite (code: 301446) closed at 35.62, up 12.05% with a trading volume of 93,200 shares [1] - Construction Machinery (code: 600984) closed at 4.60, up 10.05% with a trading volume of 1,259,000 shares and a transaction value of 574 million yuan [1] - Southern Road Machinery (code: 603280) closed at 41.47, up 10.00% with a trading volume of 84,700 shares [1] - Weiman Sealing (code: 301161) closed at 37.90, up 8.22% with a trading volume of 134,000 shares [1] - Wuxin Tunnel Equipment (code: 920174) closed at 61.16, up 6.66% with a trading volume of 103,400 shares [1] - Shanhe Intelligent (code: 002097) closed at 14.70, up 6.44% with a trading volume of 2,601,700 shares and a transaction value of 3.827 billion yuan [1] - Zhongli Co., Ltd. (code: 603194) closed at 41.08, up 4.03% with a trading volume of 57,300 shares [1] - Zhongji United (code: 605305) closed at 38.24, up 3.46% with a trading volume of 89,000 shares [1] - Tongli Co., Ltd. (code: 66500ZG6) closed at 20.50, up 3.38% with a trading volume of 133,400 shares [1] Group 3: Capital Flow - The engineering machinery sector saw a net outflow of 248 million yuan from main funds, while retail funds experienced a net inflow of 308 million yuan, and a net outflow of 6.009 million yuan from individual investors [1]

Group 1 - The core viewpoint of the news is that Fushite's stock price increased by 5.22% to 33.45 CNY per share, with a total market capitalization of 3.479 billion CNY as of the report date [1] - Fushite, established on April 8, 2005, specializes in the research, production, and sales of hydraulic pipeline systems, with its main revenue sources being hard pipe assemblies (60.79%), vehicle fire extinguishing systems (19.19%), fuel tank assemblies (17.86%), and others (2.15%) [1] - The trading volume for Fushite reached 51.4066 million CNY, with a turnover rate of 5.00% [1] Group 2 - Among Fushite's top ten circulating shareholders, the Noan Multi-Strategy Mixed A Fund (320016) entered the list in the second quarter, holding 426,000 shares, which is 1.34% of the circulating shares, with an estimated floating profit of approximately 707,200 CNY [2] - The Noan Multi-Strategy Mixed A Fund was established on August 9, 2011, with a current scale of 1.399 billion CNY, achieving a year-to-date return of 66.58% and ranking 308 out of 8160 in its category [2] - The fund has a one-year return of 84.66%, ranking 109 out of 8026, and a cumulative return since inception of 221.5% [2] Group 3 - The fund managers of Noan Multi-Strategy Mixed A are Kong Xianzheng and Wang Haichang, with Kong having a tenure of 4 years and 331 days and a best fund return of 77.8% during his tenure [3] - Wang has a tenure of 3 years and 93 days, with a best fund return of 65.28% during his management [3]