锡装股份成立于1990年3月1日，于2022年9月20日在深圳证券交易所上市，注册地址和办公地址均为江苏 省无锡市。公司是国内金属压力容器领军企业，专注于金属压力容器的研发制造，拥有核安全2、3级资质 等技术优势。 2025年三季度，锡装股份营业收入为9.64亿元，在行业58家公司中排名第27。行业第一名中创智领为 307.45亿元，第二名振华重工为260.07亿元，行业平均数为32.26亿元，中位数为8.77亿元。同期，净利润 为2亿元，行业排名第14。行业第一名中创智领为37.05亿元，第二名天地科技为35.25亿元，行业平均数为 2.68亿元，中位数为7399.3万元。 资产负债率低于同业平均，毛利率高于同业平均 偿债能力方面，2025年三季度锡装股份资产负债率为27.46%，低于去年同期的30.51%，且低于行业平均的 46.18%。从盈利能力看，当期毛利率为36.21%，高于去年同期的31.84%，且高于行业平均的26.77%。 董事长曹洪海薪酬75.62万元，同比增加3.5万元 公司控股股东和实际控制人均为曹洪海。曹洪海先生，1977年出生，中国国籍，无境外永久居留权，硕士 研究生学历。2004年 ...

*ST建艺（维权）成立于1994年1月3日，2016年3月11日在深圳证券交易所上市，注册地和办公地均为广东 省深圳市。公司是一家知名建筑装饰企业，在建筑装饰施工和设计业务领域有一定优势。 公司从事建筑装饰施工和设计业务，所属申万行业为建筑装饰-装修装饰Ⅱ-装修装饰Ⅲ，所属概念板块包 括退市警示、小盘、太阳能核聚变、超导概念、核电。 图：*ST建艺营收及增速 经营业绩：营收行业第五，净利润第二十一 2025年三季度，*ST建艺营业收入26.66亿元，行业排名5/23，高于行业平均数24.58亿元和中位数6.64亿 元，但与行业第一名江河集团的145.54亿元、第二名金螳螂的132.75亿元差距较大。同期净利润为 -3.57亿 元，行业排名21/23，远低于行业第一名江河集团的5.1亿元、第二名金螳螂的3.94亿元，也低于行业平均数 -2141.74万元和中位数 -3423.81万元。 资产负债率高于同业平均，毛利率低于同业平均 偿债能力方面，2025年三季度*ST建艺资产负债率达110.02%，高于去年同期的97.14%，且高于行业平均的 76.84%，偿债压力较大。从盈利能力看，2025年三季度毛利率为4. ...

精艺股份成立于1999年7月28日，于2009年9月29日在深圳证券交易所上市，注册地址和办公地址均位于广 东省佛山市。该公司是国内领先的金属加工企业，专注于金属加工设备、精密铜管及深加工产品，具备全 产业链生产优势。 公司主营业务为金属加工设备、精密铜管和铜管深加工产品的生产和销售，所属申万行业为有色金属 - 工 业金属 - 铜，涉及虚拟电厂、有色铜、太阳能核聚变、超导概念、核电等概念板块。 经营业绩：营收行业第15，净利润第16 2025年三季度，精艺股份营业收入为34.81亿元，在行业排名15/16。行业第一名江西铜业营收达3960.47亿 元，第二名紫金矿业为2542亿元，行业平均数是890.55亿元，中位数为566.87亿元。同期净利润为1474.01 万元，行业排名末位（16/16），行业第一名紫金矿业净利润457.01亿元，第二名洛阳钼业164.88亿元，行 业平均数为52.01亿元，中位数为8.03亿元。 资产负债率低于同业平均，毛利率低于同业平均 偿债能力方面，2025年三季度精艺股份资产负债率为46.12%，低于行业平均的54.12%，不过较去年同期的 33.10%有所上升。从盈利能力看， ...

Core Viewpoint - Keliqi, established in March 2004 and listed on the Shenzhen Stock Exchange in December 2015, is a significant supplier of magnetic components and switch power products in China, with strong R&D and production capabilities [1] Group 1: Business Performance - In Q3 2025, Keliqi reported revenue of 4.105 billion, ranking 9th in the industry out of 33, below the industry average of 4.846 billion and the top competitor China Electric Port at 50.598 billion, but above the industry median of 2.058 billion [2] - The net profit for Q3 2025 was 236 million, also ranking 9th in the industry, exceeding the industry average of 139 million and the median of 82.2 million, but lower than the top competitor Wolong Nuclear Materials at 883 million [2] Group 2: Financial Ratios - Keliqi's debt-to-asset ratio in Q3 2025 was 54.55%, up from 51.91% year-on-year and above the industry average of 44.96% [3] - The gross profit margin for Q3 2025 was 14.17%, an increase from 13.48% year-on-year, but still below the industry average of 21.49% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 5.07% to 37,900, while the average number of circulating A-shares held per shareholder decreased by 5.71% to 12,800 [5] - Hong Kong Central Clearing Limited is the third-largest circulating shareholder, holding 16.8982 million shares, an increase of 12.138 million shares from the previous period [5] - New shareholders include招商量化精选股票发起式A and 西部利得新动向混合A, holding 2 million and 1.6 million shares respectively, while several funds exited the top ten circulating shareholders list [5] Group 4: Executive Compensation - The chairman, Xiao Keng, received a salary of 1.343 million in 2024, a slight increase of 0.04 million from 2023 [4]

Core Viewpoint - *ST Lingda, a company focused on photovoltaic power generation, is facing significant challenges in terms of revenue and profitability, ranking low within its industry while exhibiting high debt levels and low gross margins [1][2][3]. Financial Performance - In Q3 2025, *ST Lingda reported revenue of 89.09 million, ranking 13th among 13 companies in the industry, significantly lower than the industry leader's revenue of 4.101 billion and the second place at 3.855 billion [2] - The company's net profit for the same period was -128 million, placing it 12th in the industry, with the top performer achieving a net profit of 1.129 billion [2] Profitability and Debt - The asset-liability ratio for *ST Lingda in Q3 2025 was 172.63%, an increase from 112.74% year-on-year, and significantly higher than the industry average of 62.14% [3] - The gross margin for the company was -5.08%, although an improvement from -68.76% year-on-year, it remains below the industry average of 32.38% [3] Management Compensation - The total compensation for CEO Yang Xusheng was 397,800, a decrease of 64,200 from the previous year [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 2.40% to 10,000, while the average number of circulating A-shares held per shareholder decreased by 2.34% to 26,500 [5]

双元科技成立于2006年3月21日，于2023年6月8日在上海证券交易所上市，注册地址和办公地址均位于浙 江省杭州市。该公司是生产过程质量检测及控制解决方案提供商，其核心产品能助力客户实现智能化检测 及自动化控制，具有较强的技术优势。 公司所属申万行业为机械设备 - 自动化设备 - 其他自动化设备，涉及高派息、小盘、太阳能核聚变、超导 概念、核电等概念板块。主营业务是为企业提供产品生产过程中的面密度/厚度/克重/定量、水分、灰分等 工艺参数检测并对生产过程进行高精度闭环控制的在线自动化测控系统，以及适用于表面瑕疵检测、内部 缺陷检测和尺寸测量的机器视觉智能检测系统。 经营业绩：营收行业第二十，净利润第十 2025年三季度，双元科技营业收入为2.46亿元，在行业25家公司中排名第20，远低于行业第一名博众精工 的36.53亿元和第二名怡合达的21.97亿元，也低于行业平均的7.26亿元和中位数5.01亿元。主营业务构成 中，在线自动化检测系统收入1.03亿元，占比63.93%；机器视觉智能检测系统收入5285.1万元，占比 32.73%；系统部件及维修服务等收入540.58万元，占比3.35%。当期净利润为52 ...

天正电气成立于1999年10月29日，于2020年8月7日在上海证券交易所上市，注册地址位于浙江省，办公地 址分布在浙江省和上海市。该公司是国内低压电器领域的知名企业，专注于低压电器产品的研发、生产和 销售，具备全产业链优势。 公司主营业务为配电电器、控制电器、终端电器、电源电器、仪表电器等低压电器产品的研发、生产和销 售，所属申万行业为电力设备-电网设备-配电设备，属于小盘、碳中和、太阳能核聚变、超导概念、核电 等概念板块。 经营业绩：营收行业第八，净利润第八 2025年三季度，天正电气营业收入为21.7亿元，在行业26家公司中排名第8。行业第一名正泰电器营收 463.96亿元，第二名三星医疗营收110.8亿元，行业平均数为37.27亿元，中位数为11.37亿元。主营业务构 成中，配电电器12.11亿元占比41.51%，终端电器5.88亿元占比20.15%等。当期净利润为1.05亿元，同样在 行业中排名第8，行业第一名正泰电器净利润56.56亿元，第二名三星医疗净利润15.07亿元，行业平均数为 3.62亿元，中位数为6913.82万元。 资产负债率高于同业平均，毛利率高于同业平均 偿债能力方面，2025年 ...

Core Viewpoint - China Electric Motor, established in 2003 and listed in 2014, is a significant player in the domestic large and medium-sized AC and DC motor sector, with advanced technology and strong market competitiveness [1] Group 1: Business Performance - In Q3 2025, China Electric Motor reported revenue of 478 million yuan, ranking 22nd out of 26 in the industry, with the industry leader, Wolong Electric Drive, generating 11.967 billion yuan [2] - The revenue composition includes AC motors at 163 million yuan (52.75%), wind motors at 64.3 million yuan (20.86%), DC motors at 41.16 million yuan (13.35%), and other products at 40.2 million yuan (13.04%) [2] - The net profit for the same period was 39.22 million yuan, ranking 20th in the industry, with the top two competitors, Ocean Electric and Wolong Electric Drive, earning 896 million yuan and 829 million yuan respectively [2] Group 2: Financial Ratios - As of Q3 2025, the asset-liability ratio for China Electric Motor was 39.34%, down from 40.80% year-on-year, which is higher than the industry average of 35.64% [3] - The gross profit margin for the same period was 25.86%, an increase from 25.05% year-on-year, exceeding the industry average of 21.03% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 39.57% to 19,400, with an average holding of 12,100 circulating A-shares, a decrease of 28.35% [5] - Notable changes in the top ten circulating shareholders include HSBC Jintrust Small Cap Stock becoming the fifth largest with 4.9115 million shares, an increase of 2.5637 million shares [5]

Core Viewpoint - Hangzhou Thermal Power is a leading regional cogeneration enterprise with technological advantages in efficient cogeneration and multi-energy complementarity, listed on the Shanghai Stock Exchange since June 30, 2021 [1] Group 1: Business Performance - In Q3 2025, Hangzhou Thermal Power reported revenue of 2.306 billion yuan, ranking 5th among 18 companies in the industry, with the top company, Xiexin Nengke, generating 7.935 billion yuan [2] - The main business composition includes cogeneration business at 781 million yuan (51.54%), coal business at 684 million yuan (45.13%), and other revenues at 50.5174 million yuan (3.33%) [2] - The net profit for the same period was 182 million yuan, ranking 7th in the industry, with the top company achieving 893 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, the debt-to-asset ratio for Hangzhou Thermal Power was 30.39%, a slight decrease from 30.94% year-on-year, which is lower than the industry average of 43.74% [3] - The gross profit margin for Q3 2025 was 11.87%, up from 11.72% year-on-year, but still below the industry average of 22.05% [3] Group 3: Management and Shareholder Information - The controlling shareholder is Hangzhou Energy Group Co., Ltd., with the actual controller being the People's Government of Hangzhou [4] - The chairman, Li Bing, has a rich background in various positions, while the general manager, Yu Jun, has a salary of 170,800 yuan for 2024 [4] - As of September 30, 2025, the number of A-share shareholders increased by 5.34% to 28,900, with an average holding of 13,800 shares, a decrease of 5.07% [5]

Core Viewpoint - Jinfeng Technology, established in 2004 and listed in 2010, is a leading manufacturer in the optoelectronic display film and electronic functional devices sector in China, with a comprehensive industry chain layout and differentiated advantages [1] Group 1: Business Performance - In Q3 2025, Jinfeng Technology achieved a revenue of 1.594 billion yuan, ranking 6th among 20 companies in the industry, with the industry leader, Sian Intelligent, generating 10.439 billion yuan [2] - The main business composition includes liquid crystal display modules and complete machines at 308 million yuan (31.67% of revenue) and lithium battery components at 245 million yuan (25.16% of revenue) [2] - The net profit for the same period was -192 million yuan, placing the company 19th in the industry, while the industry leader reported a net profit of 1.161 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Jinfeng Technology's debt-to-asset ratio was 78.16%, an increase from 64.64% in the previous year, exceeding the industry average of 57.48% [3] - The gross profit margin for the same period was 6.31%, down from 12.45% year-on-year, and below the industry average of 25.79% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 33.46% to 40,100, while the average number of circulating A-shares held per account decreased by 25.09% to 32,300 [5] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the sixth largest, holding 13.175 million shares as a new shareholder [5] Group 4: Executive Compensation - The chairman and general manager, Gu Qing, saw a reduction in salary from 1.3246 million yuan in 2023 to 775,000 yuan in 2024, a decrease of 549,600 yuan [4]