Core Viewpoint - Fengmao Co., Ltd. (301459) reported that as of October 20, 2025, the total number of shareholders, including margin accounts, was 7,836 [1] Company Summary - The company has a total of 7,836 shareholders as of the specified date [1]

Group 1: Financial Performance - In the first three quarters of 2025, the company achieved total revenue of 674 million RMB, a year-on-year increase of 0.58% [3] - The net profit attributable to shareholders was 84.94 million RMB, a year-on-year decrease of 27.74% [3] - The company faced challenges due to geopolitical conflicts affecting overseas market demand and increased costs from strategic capacity expansion and R&D projects [3] Group 2: Strategic Developments - The company is investing up to 260 million RMB in its Thailand production base, which will be built in phases to enhance international market share [3] - A strategic partnership was established with Jianghuai Automobile, involving equity acquisition in a subsidiary to expand into the liquid cooling market [3][4] - The collaboration aims to leverage both companies' resources to address the growing demand for thermal management systems in electric vehicles and data centers [4] Group 3: Market Opportunities - The partnership with Jianghuai is expected to enhance the company's position in the high-end passenger vehicle supply chain and create new business opportunities in emerging markets [4] - The integration of technology and market resources from both companies aims to establish a leading position in liquid cooling solutions for automotive, energy storage, and data center applications [4]

Core Viewpoint - Zhejiang Fengmao Technology Co., Ltd. reported steady revenue growth in Q3 2025, achieving total revenue of 674 million yuan, a year-on-year increase of 0.58%, with Q3 revenue at 242 million yuan, up 4.46% year-on-year, demonstrating resilience in a complex global economic environment [1] Group 1: Business Performance - The company is recognized as a national-level specialized and innovative "little giant" enterprise, focusing on the R&D, production, and sales of precision rubber components, primarily in the automotive sector, while expanding into various industrial fields [1] - Strategic new businesses are showing rapid growth, with significant sales increases from collaboration with Michelin, which has become a key driver of revenue growth [1] Group 2: New Business Ventures - Fengmao has established a dedicated robotics division to engage with various robotic applications, including humanoid, household, and underwater robots, successfully supplying transmission systems to the industrial robotics sector [2] - The company has entered a strategic partnership with Jianghuai Automobile, acquiring equity in a subsidiary to leverage complementary technologies in fluid pipeline solutions, enhancing capabilities in high-strength lightweight materials [2][3] Group 3: Market Expansion and Global Strategy - The collaboration with Jianghuai is expected to deepen ties and establish a foundation for high-end passenger vehicle components, creating a vertical synergy from R&D to application [3] - Fengmao's Thailand production base is on track to commence operations in the second half of 2025, aimed at Southeast Asia and the European and American markets, utilizing localized supply and automated production to reduce costs [3] Group 4: Industry Trends and Future Outlook - The national "14th Five-Year Plan" highlights high-end CNC machine tools and basic manufacturing equipment as key areas, benefiting the precision rubber components industry [4] - Fengmao is transitioning from a traditional rubber component manufacturer to a system solution provider, capitalizing on technological advancements and strategic foresight to navigate the global industrial chain restructuring and smart manufacturing trends [4]

Market Overview - The rubber sector increased by 2.0% on October 27, with Kexin Innovation leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Top Performers in Rubber Sector - Kexin Innovation (300731) closed at 46.43, up 8.79%, with a trading volume of 180,400 shares and a turnover of 831 million [1] - Zhen'an Technology (300767) closed at 22.32, up 8.56%, with a trading volume of 215,100 shares and a turnover of 470 million [1] - Tongcheng New Materials (603650) closed at 43.40, up 4.28%, with a trading volume of 377,800 shares and a turnover of 1.691 billion [1] Underperformers in Rubber Sector - KQ Co., Ltd. (920665) closed at 13.31, down 1.63%, with a trading volume of 13,200 shares and a turnover of 17.496 million [2] - Yanggu Huatai (300121) closed at 15.94, down 1.48%, with a trading volume of 284,100 shares and a turnover of 46 million [2] - Sanwei Equipment (920834) closed at 15.62, down 1.33%, with a trading volume of 26,600 shares and a turnover of 41.6175 million [2] Capital Flow Analysis - The rubber sector experienced a net outflow of 4.703 million from main funds, while speculative funds saw a net inflow of 9.5428 million, and retail investors had a net outflow of 4.8398 million [2][3] - Kexin Innovation had a main fund net inflow of 16.7754 million, while retail investors had a net inflow of 2.36898 million [3] - Zhen'an Technology saw a main fund net inflow of 7.9603 million, but speculative funds had a net outflow of 28.3319 million [3]

Group 1 - The company reported a total revenue of 674 million yuan for the first three quarters of 2025, representing a year-on-year increase of 0.58% [1] - The net profit attributable to the parent company was 84.94 million yuan, showing a year-on-year decline of 27.74% [1] - The company is recognized as a national-level specialized and innovative "little giant" enterprise, focusing on the research and industrialization of precision rubber components [1] Group 2 - The main products include components for transmission systems, fluid pipeline systems, sealing systems, and air suspension systems, primarily used in the automotive sector [1] - The company serves both the original equipment manufacturer (OEM) market and the aftermarket, with applications extending to industrial machinery, home appliances, agricultural machinery, and rail transit [1] - The upstream industry primarily consists of suppliers of raw materials such as rubber materials, rubber additives, cords/yarns, textiles, and other auxiliary materials [1]

Group 1 - The core point of the article is that Fengmao Co., Ltd. held its 17th meeting of the second board on October 24, 2025, to review the proposal for the company's Q3 2025 report [1] - For the year 2024, the revenue composition of Fengmao Co., Ltd. is as follows: after-sales service accounts for 46.37%, complete vehicle matching accounts for 40.56%, industrial machinery accounts for 9.35%, other main businesses account for 3.2%, and home appliances and bathroom products account for 0.52% [1] - As of the report date, Fengmao Co., Ltd. has a market capitalization of 4.3 billion yuan [1] Group 2 - A notable event mentioned is a well-known brand's acquisition of 2,000 shares for 170 million yuan, despite the target company's registered capital being only 10,000 Hong Kong dollars and it not yet being operational, raising questions about the necessity of the acquisition [1]

Core Viewpoint - Fengmao Co., Ltd. reported a slight increase in revenue for the first three quarters of 2025, but a significant decline in net profit compared to the previous year [1] Financial Performance - The company's operating revenue for the first three quarters reached 674 million yuan, representing a year-on-year growth of 0.58% [1] - The net profit attributable to shareholders of the listed company was 84.94 million yuan, showing a year-on-year decrease of 27.74% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 65.89 million yuan, down 36.81% year-on-year [1] - Basic earnings per share stood at 0.82 yuan [1]

Core Viewpoint - Fengmao Co., Ltd. (301459) reported its Q3 2025 financial results, showing a mixed performance with revenue growth but a significant decline in net profit [1] Financial Performance - The company's Q3 revenue reached 242 million yuan, representing a year-on-year increase of 4.46% [1] - Net profit for Q3 was 24.45 million yuan, reflecting a year-on-year decrease of 31.06% [1] - For the first three quarters, total revenue amounted to 674 million yuan, with a slight year-on-year growth of 0.58% [1] - Net profit for the first three quarters was 84.94 million yuan, down 27.74% compared to the previous year [1] - Basic earnings per share stood at 0.82 yuan [1]

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 浙江丰茂科技股份有限公司（以下简称"公司"）第二届董事会第十七次会议 于 2025 年 10 月 24 日（星期五）在公司会议室以现场表决方式召开。会议通知 已于 2025 年 10 月 19 日通过短信及专人送达的方式送达各位董事。本次会议由 董事长蒋春雷先生主持。本次会议应出席董事 9 人，实际出席董事 9 人，公司高 管列席本次会议。会议召开符合有关法律、法规、规章和《公司章程》的规定。 二、董事会会议审议情况 证券代码：301459 证券简称：丰茂股份 公告编号：2025-066 浙江丰茂科技股份有限公司 第二届董事会第十七次会议决议公告 具体内容详见公司同日披露于巨潮资讯网（www.cninfo.com.cn）的《2025 年第三季度报告》（公告编号：2025-067）。本议案已经董事会审计委员会审议 通过。 三、备查文件 1、第二届董事会第十七次会议决议； 2、第二届董事会审计委员会 2025 年第四次会议决议。 特此公告。 浙江丰茂科技股份有限公司董事会 2025 年 10 ...

Financial Performance - The company's revenue for Q3 2025 was CNY 241,896,572.67, representing a 4.46% increase year-over-year[5] - Net profit attributable to shareholders decreased by 31.06% to CNY 24,451,667.01 for the quarter[5] - The basic earnings per share (EPS) fell by 47.73% to CNY 0.23[5] - Total operating revenue for Q3 2025 reached ¥674,226,444.40, a slight increase of 0.13% compared to ¥670,348,543.16 in the same period last year[22] - Net profit for the period was ¥84,365,090.16, representing a decrease of 28.24% from ¥117,553,460.81 in the previous year[23] - Total comprehensive income for the period was CNY 84,365,090.16, compared to CNY 117,553,460.81 in the previous period, reflecting a decrease of approximately 28.2%[24] - Basic and diluted earnings per share were both CNY 0.82, down from CNY 1.47 in the previous period, indicating a decline of 44.3%[24] Assets and Liabilities - Total assets increased by 3.49% to CNY 1,815,096,661.38 compared to the end of the previous year[5] - The company's total assets amounted to ¥1,815,096,661.38, an increase from ¥1,753,951,285.80 at the end of the previous period[20] - Non-current liabilities totaled ¥66,722,217.38, up from ¥44,948,262.07 in the previous year, indicating a significant increase of 48.67%[20] - The total liabilities of the company were ¥565,490,827.93, compared to ¥554,629,694.80 in the previous year, showing an increase of 1.55%[20] Cash Flow - The company reported a net cash flow from operating activities of CNY 28,488,366.46, down 16.38% year-to-date[5] - Cash inflow from operating activities totaled CNY 678,383,803.78, an increase of 8.7% from CNY 624,089,610.15 in the previous period[24] - Net cash flow from operating activities was CNY 28,488,366.46, down 16.5% from CNY 34,069,328.22 in the previous period[24] - Cash inflow from investment activities was CNY 1,057,414,764.88, up from CNY 890,194,775.44, representing an increase of 18.8%[25] - Net cash flow from investment activities was CNY 19,276,246.70, a significant improvement from a negative CNY 139,605,503.85 in the previous period[25] - Cash inflow from financing activities totaled CNY 9,232,935.20, with cash outflow amounting to CNY 42,348,749.56, resulting in a net cash flow of CNY -33,115,814.36[25] - The ending cash and cash equivalents balance was CNY 328,748,668.57, compared to CNY 445,363,389.65 at the end of the previous period, reflecting a decrease of 26.2%[25] Shareholder Information - Total number of common shareholders at the end of the reporting period is 8,499[12] - Ningbo Fengmao Investment Holding Co., Ltd. holds 59.93% of shares, totaling 62,400,000 shares[12] - The total number of restricted shares at the end of the period is 78,022,829, with 18,022,829 shares added during the period[16] - The company plans to release additional restricted shares on December 13, 2026, including 14,400,000 shares from Ningbo Fengmao Investment Holding Co., Ltd.[16] - The number of shares held by the top 10 shareholders includes significant stakes from natural persons and non-state-owned legal entities[12] Operational Highlights - The company’s construction in progress increased by 666.56% to CNY 162,680,083.00, indicating expansion efforts[9] - Research and development expenses for the quarter were ¥33,444,970.73, slightly down from ¥34,467,825.40 year-on-year[22] - The company’s cash flow from operating activities remains a focus for future growth strategies and market expansion initiatives[20] Other Financial Metrics - Government subsidies recognized during the period amounted to CNY 6,923,092.55, contributing to the financial results[6] - The company’s weighted average return on equity decreased to 2.02%, down 1.11 percentage points from the previous year[5] - The company reported a financial income of ¥4,027,669.51, down from ¥7,589,693.74 in the previous year, indicating a decline of 46.96%[22] - Total operating costs increased to ¥587,428,956.34, up 8.13% from ¥543,302,925.77 year-on-year[22] Reporting and Audit - The company did not undergo an audit for the third quarter financial report[26] - The financial report for the third quarter was released on October 25, 2025[27]