转让详情为：孙日贵向孙浩博转让公司股份6022.12万股，占总股本的6.36%，转让价格为4.995元/股，转让价款合计人民币3.01亿元。转让完成后，孙浩 博持股比例增至6.81%。 11月18日晚，孚日股份发布公告，公司收到持股5%以上股东孙浩博的通知，孙日贵向孙浩博转让公司股份事项，已完成过户登记手续。 孙浩博于1986年5月出生，汉族，加拿大女王大学管理学硕士，中山大学经济学学士。孙浩博曾担任北京孚日教育投资公司总经理，现任北京信远昊海投 资有限公司董事长、北京睿优铭管理咨询有限公司董事长、公司董事、副总经理。 孙日贵与孙浩博为父子关系，孙小惠为孙日贵之女。在本次转让股份给孙浩博前，2016年6月，孙日贵还曾将1273.21万股公司股份转让给孙小惠。 目前， 孙日贵、孙浩博及孙小惠为一致行动人。 公告表示，此次转让不涉及通过二级市场减持、要约收购，也不会导致公司控股股东及实际控制人发生变化。 据此计算，原本接近当时市价的转让价格，较当前收盘价已折价约59.91%，转让股份的市值也已达到7.5亿元。 资料显示，孚日股份全称为孚日集团股份有限公司，1987年创立，2006年在深交所上市，是一家从家纺龙头向 ...

Core Viewpoint - The transfer of shares from Sun Riguo to his son Sun Haobo has been completed, increasing Sun Haobo's stake in Furui Co., Ltd. to 6.81% while the company's stock price has significantly risen since the announcement of the transfer [2][3][5]. Group 1: Share Transfer Details - Sun Riguo transferred 60.22 million shares, representing 6.36% of the total share capital, to Sun Haobo at a price of 4.995 CNY per share, totaling 301 million CNY [2][3]. - Following the transfer, Sun Haobo's shareholding increased to 6.81% [2]. - The transfer does not involve secondary market reduction or a change in the controlling shareholder [3]. Group 2: Shareholder Background - Sun Riguo, the founder of Furui Co., Ltd., has a background in textile manufacturing and has held various leadership positions [3]. - Sun Haobo, born in May 1986, holds a master's degree in management and has experience in investment management [3]. Group 3: Stock Performance - The stock price of Furui Co., Ltd. has surged from 5.76 CNY per share at the time of the transfer announcement to 12.46 CNY, marking a cumulative increase of 116.32% [2][5]. - The transfer price is approximately 59.91% lower than the current market price, with the market value of the transferred shares reaching 750 million CNY [5]. Group 4: Company Overview and Financial Performance - Furui Co., Ltd. is transitioning from a home textile leader to a diversified enterprise focusing on "home textiles + new energy materials" [5]. - For the first three quarters, the company reported revenue of 3.841 billion CNY, a year-on-year decrease of 4.45%, and a net profit of 296 million CNY, down 12.05% [5][6]. - The decline in performance is attributed to tax-related expenses totaling 41.82 million CNY, which impacted net profit for the third quarter [6].

Core Viewpoint - The company held its Q3 2025 performance briefing on November 18, 2025, to discuss its financial results and address investor inquiries regarding its business performance and future strategies [1]. Group 1: Performance and Financials - The company reported a 20.26% year-on-year increase in revenue for the first three quarters of 2025, although it still recorded a net loss after excluding non-recurring items [2]. - Revenue growth was driven by both traditional and new energy businesses, with traditional business growth slightly outpacing that of the new energy sector [2]. Group 2: Business Strategy and Future Outlook - The company aims for new energy business revenue to exceed 10% of total revenue, with current products like electronic water pumps already in mass production and customer expansion efforts ongoing [2]. - The restructuring of the China Ordnance Equipment Group is in progress, with expectations for military asset integration and the civilian application of military technology, aligning with the company's strategic shift towards fluid machinery and new energy [2].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603949 证券简称：雪龙集团 公告编号：2025-077 雪龙集团股份有限公司 关于2025年第三季度业绩说明会召开情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 雪龙集团股份有限公司（以下简称"公司"）于2025年11月18日9:00-10:00，通过上证路演中心以网络互 动的方式召开"雪龙集团股份有限公司2025年第三季度业绩说明会"。关于本次说明会的召开事项，公司 已于2025年10月28日在上海证券交易所网站（www.sse.com.cn）及指定媒体披露了《雪龙集团股份有限 公司关于召开2025年第三季度业绩说明会的公告》（公告编号：2025-075）。 问题2：公司全年的业绩会怎么样？怎么保障持续性？ 回复：公司的业绩持续性主要基于：一、核心产品稳健增长，智能电控集成系统等核心产品的持续放 量；二、精细化管理控制生产成本，产品结构持续优化，带动规模效应增长；三、新生产基地建成后将 有效释放产能；四、公司新能源产品持续推进中。具体财务数据和业绩 ...

Core Viewpoint - The company announced a Q3 earnings briefing scheduled for November 18, 2025, highlighting significant revenue and profit growth driven by product sales and management optimization [1] Financial Performance - For the first nine months of 2025, the company reported a revenue increase of 17.93% year-on-year [1] - The non-recurring net profit attributable to the parent company grew by 83.10% year-on-year [1] - In Q3 alone, the non-recurring net profit saw a remarkable increase of 218.78% year-on-year [1] Growth Drivers - The growth is attributed to increased sales of core products, effective cost control, capacity release, and advancements in new energy products [1] - The company anticipates that high and low-voltage electronic fans will be key growth drivers in the new energy business [1] - The establishment of a new production base is expected to overcome capacity bottlenecks and enhance customer coverage [1]

Group 1: Power Generation Capacity - The company has 8 million kW of coal-fired power generation capacity under construction, with approximately 3,000-5,000 kW expected to be operational in 2025, and the remaining capacity projected for 2026-2027 [2] - As of the first three quarters of 2025, the company has a total installed capacity of 40.5593 million kW, with coal-fired capacity at 20.01 million kW (49.34%), gas-fired capacity at 11.847 million kW (29.21%), wind power at 3.895 million kW (9.60%), solar power at 4.5745 million kW (11.28%), and hydropower at 132.8 thousand kW [2] Group 2: New Energy Business Performance - In the first three quarters of 2025, the company faced intensified competition in the electricity market and policy adjustments, leading to a net profit of approximately 156.36 million yuan from wind power, while solar power incurred a net loss of about 50.88 million yuan [3] Group 3: Fuel Procurement and Cost - The company maintains a balanced procurement structure with domestic and imported coal each accounting for approximately 50% of total coal purchases [3] - Fuel costs decreased by 13.38% year-on-year in the first three quarters of 2025, attributed to falling coal prices [3] Group 4: Electricity Pricing Outlook - The average transaction price for bilateral negotiations in Guangdong Province for 2025 is 391.87 yuan per thousand kWh, reflecting a year-on-year decrease of about 15.84% [4] - The long-term electricity price for 2026 is subject to various uncertainties, including macroeconomic conditions, market policies, and customer expectations [4]

Investment Rating - The report maintains a "Strong Buy" rating for the company, expecting it to outperform the benchmark index by over 20% in the next six months [2][9]. Core Views - The company reported a revenue of 4.03 billion yuan in Q3 2025, a year-on-year decrease of 4.4%. The net profit attributable to shareholders was 920 million yuan, down 10.3% year-on-year [2][9]. - The traditional business is under pressure due to industry conditions, but the company is actively developing new products and moving towards smart ecosystems to mitigate the impact of low demand in the real estate sector [9]. - The company is making significant progress in its new energy business, which is expected to form a second growth curve in the future [9]. - The gross margin for Q3 2025 was 41.7%, a decline of 1.8 percentage points year-on-year, primarily due to the increasing revenue share from the lower-margin new energy business [9]. - Operating cash flow improved significantly, with a net cash flow of 1.24 billion yuan in Q3 2025, up 90.2% year-on-year [9]. Financial Summary - Total revenue projections for 2024A, 2025E, 2026E, and 2027E are 16.83 billion, 16.66 billion, 17.81 billion, and 18.71 billion yuan respectively, with a year-on-year growth rate of 7.2%, -1.0%, 6.9%, and 5.0% [4][10]. - Net profit attributable to shareholders is projected to be 4.27 billion, 3.99 billion, 4.38 billion, and 4.66 billion yuan for the same years, with corresponding growth rates of 10.4%, -6.6%, 9.7%, and 6.3% [4][10]. - The earnings per share (EPS) forecast for 2025E is 2.21 yuan, with a price-to-earnings (P/E) ratio of 20 [4][10]. - The target price is set at 54.6 yuan, compared to the current price of 43.80 yuan [4][10].

Core Viewpoint - 科轩动力控股 plans to raise approximately HKD 20 million through the placement of up to 26 million shares at a price of HKD 0.78 per share, representing a discount of about 14.29% from the closing price of HKD 0.910 on the date of the agreement [1] Group 1 - The placement will involve at least six subscribers [1] - Approximately 75% of the net proceeds will be used to develop and expand the company's new energy business, particularly in electric commercial solutions [1] - The remaining 25% of the proceeds will be allocated to supplement the company's general working capital [1]

Core Viewpoint - Kexin Power Holdings (00476) plans to raise approximately HKD 20 million through a placement of up to 26 million shares at HKD 0.78 each, representing a discount of about 14.29% from the closing price of HKD 0.910 on the date of the agreement [1] Group 1 - The company has entered into a placement agreement with a placement agent to sell shares to no fewer than six subscribers [1] - Approximately 75% of the net proceeds will be used to develop and expand the group's new energy business, particularly in electric commercial solutions [1] - The remaining 25% of the proceeds will be allocated to supplement the group's general working capital [1]

机构：中银证券 研究员：徐中良/余嫄嫄 公司发布2025 年三季报，前三季度实现营业总收入21692.56 亿元，同比降低3.92%；归母净利润 1262.79 亿元，同比降低4.90%；扣非归母净利润1268.74 亿元，同比降低6.40%。 其中，第三季度营收7191.57 亿元，同比增长2.34%，环比增长3.18%；归母净利润422.86亿元，同比降 低3.86%，环比增长13.71%。公司油气产量稳中有增，新能源业务加速发展，炼油化工深入推进转型升 级，天然气销售效益持续提升，看好公司全产业链的竞争优势，维持买入评级。 支撑评级的要点 估值 我们预计2025-2027 年归母净利润为1,660.51 亿元、1,694.82 亿元、1,727.05 亿元，对应市盈率为10.5 倍、10.3 倍、10.1 倍，公司油气产量结构优化，炼油化工转型升级深入推进，看好公司全产业链的竞争 优势，维持买入评级。 评级面临的主要风险 国际油价剧烈波动风险、环保政策变化或自然灾害等因素导致生产装置异常、人员操作失误带来的安全 生产风险、全球经济增速放缓的风险、关税政策变化的风险等。 经营韧性凸显，三季度业绩环比增长。 ...