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]

Group 1 - On October 16, Fengmao Co., Ltd. experienced a decline of 2.53% in stock price, with a transaction volume of 37.8 million yuan. The margin trading data indicated a financing buy amount of 2.51 million yuan and a financing repayment of 3.20 million yuan, resulting in a net financing buy of -0.69 million yuan. As of October 16, the total margin trading balance was 102 million yuan [1] - The financing balance of Fengmao Co., Ltd. was 102 million yuan, accounting for 9.62% of the circulating market value, which is above the 90th percentile level over the past year, indicating a high level of financing [1] - In terms of securities lending, there were no shares repaid or sold on October 16, with a securities lending balance of 0.00 shares, also indicating a high level compared to the 80th percentile over the past year [1] Group 2 - As of September 30, the number of shareholders of Fengmao Co., Ltd. was 8,499, an increase of 2.47% compared to the previous period. The average circulating shares per person decreased by 2.41% to 3,070 shares [2] - For the first half of 2025, Fengmao Co., Ltd. reported an operating income of 432 million yuan, a year-on-year decrease of 1.47%, and a net profit attributable to the parent company of 60.49 million yuan, down 26.31% year-on-year [2] - Since its A-share listing, Fengmao Co., Ltd. has distributed a total of 72 million yuan in dividends [3]

Core Insights - Fengmao Co., Ltd. is actively engaging with various robotics companies, including Yushu Technology, to explore the application of precision rubber components in robotics, marking a significant milestone in its robotics business development [1] - The company has established a dedicated robotics division and is focusing its R&D efforts on developing high-precision transmission belts and sealing components for robots, with a notable increase in R&D investment [2] - The current expansion of Fengmao's business aligns with favorable policies and market conditions for the robotics industry, creating opportunities for domestic companies to replace foreign brands [3] Company Developments - Fengmao reported a revenue of 432 million yuan and a net profit of 60.49 million yuan in the first half of 2025, providing financial support for its robotics business expansion [2] - The company has formed a complete organizational system from material R&D to product delivery, with sales of its transmission and sealing system components already initiated [2] - The collaboration with Yushu Technology is expected to enhance customer orders and create benchmark cases that can extend to other robotics sectors, such as home appliances and underwater robots [4] Industry Context - The Chinese government's "14th Five-Year Plan" prioritizes the robotics industry, with policies promoting the autonomy of core components, benefiting domestic manufacturers [3] - The demand for industrial and humanoid robots is surging, opening up significant market opportunities for precision rubber components [3] - The market for sealing components in humanoid robots is projected to reach approximately 400 million yuan as production scales up, with Fengmao positioned to capture a substantial share due to its existing client base and technical expertise [4]

Core Viewpoint - Fengmao Co., Ltd. has successfully acquired a state-owned land use right for 72.77 million yuan to build an "Intelligent Chassis Thermal Control System Production Base (Phase I)" project, marking a significant step in its capacity layout in the core components of the new energy vehicle sector [1] Group 1: Land Acquisition and Project Development - The acquired land will leverage the mature industrial ecosystem in the surrounding area, which is home to an automotive parts industry cluster, facilitating reduced production and logistics costs [1] - The company plans to invest no more than 1.5 billion yuan in the construction of the production base, with the land acquisition being a critical step from planning to implementation [1] Group 2: Financial Performance - In the first half of 2025, the company reported approximately 432 million yuan in revenue and about 60 million yuan in net profit, indicating a gradual recovery in operations [2] - In Q2 2025, revenue reached approximately 237 million yuan, reflecting a quarter-on-quarter growth of 20.78%, while net profit increased by 10.59% to around 32 million yuan [2] Group 3: Strategic Expansion - The establishment of the Intelligent Chassis Thermal Control Production Base is a key move for the company to expand into the automotive new business sector, with plans for a "dual-base linkage" capacity layout [2] - In addition to the new base in Yuyao, the company will also build a commercial vehicle parts production base in Jinan, focusing on core components for commercial vehicles [2] Group 4: Product Development - The company is accelerating the development of a diversified product matrix, including lightweight air spring products for passenger vehicles and thermal management components for electric vehicles [3] - A notable order of 170 million yuan has been secured from a well-known domestic automaker, covering a project cycle from 2025 to 2031, which supports stable revenue growth [3] Group 5: Growth Logic and Market Strategy - The company is focusing on its core transmission system business while expanding into international markets, with a new production base in Thailand set to begin operations in the second half of 2025 [4] - The domestic transmission system revenue for the first half of 2025 was approximately 170 million yuan, showing a year-on-year growth of 19.44%, highlighting the resilience of the main business [4] Group 6: Non-Automotive Sector Expansion - The company is actively exploring new growth points in non-automotive sectors, including partnerships in the low-altitude economy and rail transportation [5] - A dedicated robotics division has been established, with sales of transmission and sealing system components already initiated, indicating a multi-track growth strategy [5]

Core Viewpoint - The company has successfully acquired the land use rights for a state-owned construction site, which will support its strategic project in the production of intelligent chassis thermal control systems, enhancing its market competitiveness and industrial layout [1] Summary by Categories Acquisition Details - The company won the land use rights for the plot numbered 2025-29 for a total of RMB 72.77 million [1] - The agreement was signed with the Yuyao City Natural Resources and Planning Bureau [1] Project Relevance - The acquired land is designated for the company's fundraising project, specifically the "Intelligent Chassis Thermal Control System Production Base (Phase I)" [1] - This acquisition aligns with the company's operational development needs [1] Financial Impact - The funding for the land acquisition comes from the company's raised capital [1] - The transaction is not expected to have a significant adverse impact on the company's financial status or operational activities [1]