证券代码：002811 证券简称：郑中设计 公告编号：2025-072 深圳市郑中设计股份有限公司 关于控股股东减持股份触及 1%整数倍的公告 控股股东深圳市亚泰一兆投资有限公司保证向本公司提供的信息内容真实、 准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 深圳市郑中设计股份有限公司（以下简称"公司"）于2025年9月26日披露 了《关于控股股东减持股份的预披露公告》（公告编号：2025-067）。持有公司 股份141,961,723股（占公司剔除回购专用账户中股份数量后总股本的47.33%）的 控股股东深圳市亚泰一兆投资有限公司（以下简称"亚泰一兆"）计划自减持预 披露公告披露之日起15个交易日后的3个月内，以集中竞价和大宗交易方式减持 公司股份不超过8,997,606股（占公司剔除回购专用账户中股份数量后总股本比例 不超过3%）。其中，以集中竞价交易方式减持股份数量不超过2,999,202股（占 公司剔除回购专用账户中股份数量后总股本比例不超过1%），以大宗交易方式 减持股份数量不超过5,998,404股 ...

Core Viewpoint - Zhengzhong Design (002811.SZ) has received a notification from Yatai Yizhao regarding a reduction in shareholding that has reached a 1% integer threshold [1] Summary by Relevant Sections Shareholding Changes - As of November 6, 2025, Yatai Yizhao has reduced its shareholding in Zhengzhong Design by 2.2768 million shares, which accounts for 0.74% of the company's total share capital [1] - After this reduction, Yatai Yizhao and its concerted parties now hold a total of 172 million shares, decreasing their ownership from 175 million shares, which reduces their stake from 56.73% to 56.00% of the total share capital [1] - When excluding shares held in the repurchase special account, the ownership percentage decreased from 58.26% to 57.50% [1]

Group 1 - The stock of Zhengzhong Design closed at 12.72 yuan on November 7, with a slight decline of 0.08% [1] - A block trade occurred involving 1 million shares, totaling 11.46 million yuan, with a discount rate of -9.91% [1] - The buyer was Dongfang Caifu Securities, while the seller was Huatai Securities [1] Group 2 - Over the past three months, there has been one block trade for Zhengzhong Design, amounting to 11.46 million yuan [1] - In the last five trading days, the stock has seen a cumulative decline of 0.55%, with a net outflow of 22.06 million yuan from main funds [1]

Group 1 - On November 7, Zhengzhong Design executed a block trade of 1 million shares, with a transaction amount of 11.46 million yuan, accounting for 14.52% of the total trading volume for the day [1][2] - The transaction price was 11.46 yuan, which represents a discount of 9.91% compared to the market closing price of 12.72 yuan [1][2]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [2] Core Views - The company reported a revenue of 989 million yuan for the first three quarters of 2025, representing a year-on-year increase of 19.89%. The net profit attributable to shareholders was 135 million yuan, up 42.62% year-on-year [7][8] - The company has seen rapid growth in design and soft decoration orders, while its engineering business is contracting. New orders signed in the first three quarters of 2025 reached 1.897 billion yuan, a 59.2% increase year-on-year, with design and soft decoration orders growing by 43.2% and 97.3% respectively [7][8] - The company is expected to achieve revenues of 1.365 billion yuan, 1.479 billion yuan, and 1.606 billion yuan for 2025, 2026, and 2027 respectively, with net profits of 164 million yuan, 184 million yuan, and 210 million yuan for the same years [7][8] Financial Performance - For the first three quarters of 2025, the company achieved a gross margin of 37.38%, an increase of 3.54 percentage points year-on-year. The net profit margin was 13.69%, up 2.18 percentage points year-on-year [8] - The company's operating cash flow for the period was 182 million yuan, an increase of 27 million yuan compared to the same period last year [8] - The company’s earnings per share (EPS) for 2025 is projected to be 0.53 yuan, with a price-to-earnings (PE) ratio of 24.0 [6][9] Order and Revenue Outlook - As of the end of September 2025, the company had a total of 3.756 billion yuan in signed but uncompleted orders, with design, soft decoration, and engineering business orders amounting to 2.963 billion yuan, 699 million yuan, and 93 million yuan respectively [7][8] - The company’s revenue growth rate is expected to be 15.0% in 2025, followed by 8.3% in 2026 and 8.6% in 2027 [6][9]

Core Viewpoint - Zhengzhong Design (002811.SZ) reported its Q3 2025 financial results, showing a total revenue of 989 million yuan and a net profit attributable to shareholders of 135 million yuan, indicating a stable financial performance in the current fiscal year [1][2]. Financial Performance - The company's total revenue for the third quarter was 989 million yuan [2]. - The net profit attributable to shareholders was 135 million yuan [2]. - The net cash inflow from operating activities was 182 million yuan [2]. Financial Ratios - The latest debt-to-asset ratio is 45.54%, which is an increase of 4.09 percentage points compared to the previous quarter [4]. - The latest gross profit margin stands at 37.38% [5]. - The return on equity (ROE) is reported at 9.65% [5]. Earnings and Efficiency Metrics - The diluted earnings per share (EPS) is 0.47 yuan [6]. - The total asset turnover ratio is 0.39 times [6]. - The inventory turnover ratio is 3.93 times, which has decreased by 2.69 times compared to the same period last year, representing a year-on-year decline of 40.62% [6]. Shareholder Information - The number of shareholders is approximately 19,800, with the top ten shareholders holding a total of 187 million shares, accounting for 60.73% of the total share capital [6]. - The largest shareholder is Shenzhen Yatai Yizhao Investment Co., Ltd., holding 46.10% of the shares [6].

Core Insights - Zhengzhong Design (002811.SZ) reported a revenue of 989 million yuan for the first three quarters of 2025, representing a year-on-year growth of 19.89% [1] - The net profit attributable to shareholders of the listed company reached 135 million yuan, marking a year-on-year increase of 42.62% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 122 million yuan, showing a year-on-year growth of 59.23% [1] - The basic earnings per share stood at 0.47 yuan [1]

Core Viewpoint - Zhengzhong Design (002811.SZ) reported a significant increase in both revenue and net profit for the first three quarters of 2025, indicating strong financial performance and growth potential [1] Financial Performance - The company's operating revenue for the first three quarters reached 989 million yuan, representing a year-on-year growth of 19.89% [1] - The net profit attributable to shareholders of the listed company was 135 million yuan, showing a year-on-year increase of 42.62% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 122 million yuan, reflecting a year-on-year growth of 59.23% [1] - Basic earnings per share stood at 0.47 yuan [1]

Core Viewpoint - Zhengzhong Design is a well-established architectural decoration company in China, with strong technical capabilities and rich project experience in high-end architectural decoration design and construction. The company has shown significant growth in revenue and net profit, positioning itself favorably within the industry. Group 1: Company Overview - Zhengzhong Design was established on December 26, 1994, and listed on the Shenzhen Stock Exchange on September 8, 2016. The company is headquartered in Shenzhen, Guangdong Province [1] - The main business of Zhengzhong Design includes high-end architectural decoration engineering design and construction, categorized under the building decoration industry [1] Group 2: Financial Performance - In Q3 2025, Zhengzhong Design reported revenue of 989 million yuan, ranking 11th out of 23 in the industry. The top competitor, Jianghe Group, had revenue of 14.55 billion yuan, while the industry average was 2.46 billion yuan [2] - The net profit for the same period was 135 million yuan, ranking 4th in the industry, with Jianghe Group leading at 510 million yuan. The industry average net profit was a loss of 21.42 million yuan [2] Group 3: Financial Ratios - As of Q3 2025, Zhengzhong Design's debt-to-asset ratio was 45.54%, down from 55.70% year-on-year, significantly lower than the industry average of 76.84%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 37.38%, an increase from 33.83% year-on-year, which is higher than the industry average of 13.06%, reflecting robust profitability [3] Group 4: Executive Compensation - The chairman, Zheng Zhong, received a salary of 2.9463 million yuan in 2024, an increase of 327,500 yuan from 2023. The general manager, Liu Yungui, earned 2.1539 million yuan, up 649,500 yuan from the previous year [4] Group 5: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 20.18% to 19,800, while the average number of shares held per shareholder increased by 25.29% to 14,300 [5] Group 6: Business Highlights - In the first half of 2025, Zhengzhong Design achieved revenue of 632 million yuan, a year-on-year increase of 22.56%, and a net profit of 94 million yuan, up 45.90% [6] - The company plans to distribute a cash dividend of 2.5 yuan per 10 shares, with a payout ratio of 79.66% [6] - The design and soft decoration businesses showed strong growth, with revenues increasing by 29.92% and 43.75% respectively, and new orders growing by 41.2% and 132.5% [6]

深圳市郑中设计股份有限公司（以下简称"公司"）根据《深圳证券交易所 股票上市规则》等有关规定，为了更加真实、准确、公允地反映公司截至 2025 年 9 月 30 日的资产和财务状况，公司基于谨慎性原则，对合并报表范围内的资 产进行了分析，对存在减值迹象的资产计提相应的减值准备。具体情况如下： 证券代码：002811 证券简称：郑中设计 公告编号：2025-070 深圳市郑中设计股份有限公司 关于 2025 年前三季度计提资产减值准备的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 经公司初步测算，对截至 2025 年 9 月 30 日存在减值迹象的资产进行减值测 试，计提信用减值损失 268.67 万元，计提资产减值损失 386.50 万元，明细如下： | 资产减值名称 | 本报告期计提金额（万元） | | --- | --- | | 信用减值损失 | 268.67 | | 其中：应收票据 | -1.41 | | 应收账款 | 129.55 | | 其他应收款 | 140.52 | | 资产减值损失 | 386.50 | | 其中：合同资产 | 454. ...