陕西金叶：前三季度双主业稳健发展 多元布局积蓄成长新动能

Core Viewpoint - Shaanxi Jinye reported stable business performance in Q3 2025, with significant improvements in cash flow and asset growth, reflecting strong operational capabilities and strategic execution [1] Financial Performance - The company achieved a revenue of 1.043 billion yuan in the first three quarters of 2025, maintaining stable business scale [1] - Total assets reached 5.752 billion yuan, an increase of 11.85% compared to the beginning of the year [1] - Cash and cash equivalents increased by 129.01% from the start of the year, attributed to smooth financing channels and loan supplements [1] - Net cash flow from operating activities was 161 million yuan, up 29.44% year-on-year, indicating strong cash recovery and turnover capabilities [1] Education Sector - The education segment continued to expand, optimizing subject construction and enhancing smart teaching [2] - Xi'an Mingde Polytechnic optimized its student structure and introduced new programs in artificial intelligence and robotics engineering to align with industry needs [2] - The school increased investment in high-level faculty recruitment and course development, promoting deep integration of industry and academia [2] - The implementation of "AI + Education" innovations improved teaching efficiency and student capabilities [2] Tobacco Supporting Industry - The company strengthened R&D and product quality control in response to consumption upgrades and sustainability trends in the tobacco industry [3] - Utilizing a professional R&D team and a CNAS-accredited testing center, the company improved product processes and material performance [3] - Long-term stable partnerships with well-known domestic tobacco companies enhanced market recognition [3] - The company actively responded to national environmental policies by promoting energy-saving modifications and the use of eco-friendly materials in production [3] Emerging Business Exploration - The company is exploring new business areas aligned with national policy directions, focusing on the integration of medical and elderly care [4] - Ongoing research and resource preparation are aimed at creating potential business opportunities in education and healthcare [4] - The company plans to cautiously advance its layout based on policy environment, market demand, and internal capabilities [4] Governance and Share Buyback - The company completed a board restructuring in 2025, optimizing governance structure and enhancing decision-making quality [5] - A share buyback plan was approved, with a budget between 40 million yuan and 70 million yuan, aimed at stock incentives and capital reduction [5] - The buyback reflects management's recognition of the company's intrinsic value and confidence in future development [5] - The company continues to enhance its core businesses while strategically preparing for long-term growth in emerging sectors [5]