Selected A-share announcement | Cambricon Technology (688256.SH): The revenue in the third quarter was 1.727 billion yuan, a year-on-year increase of 1332.52%.

Focus today 1. Cambrian Technology: Third quarter revenue was 1.727 billion yuan, up 1332.52% year-on-year Cambrian Technology (688256.SH) released its third quarter report for 2025 on October 17, with third quarter revenue of 17.27 billion yuan, a year-on-year increase of 1332.52%; net profit was 567 million yuan. Revenue for the first three quarters was 46.07 billion yuan, up 2386.38% year-on-year; net profit was 1.605 billion yuan. The main reason for the performance change is the company's continuous expansion of the market and active support for the implementation of artificial intelligence applications, resulting in a significant increase in revenue compared to the same period last year. 2. ZIJIN MINING: Net profit increased by 55% year-on-year in the first three quarters ZIJIN MINING (601899.SH) announced that the company's third quarter report for 2025 showed operating income of 254.199 billion yuan for the first three quarters, a year-on-year increase of 10.33%; net profit attributable to shareholders was 37.864 billion yuan, a year-on-year increase of 55.45%. Key financial indicators show that the company's gold and copper output increased by 20% and 5% respectively during the reporting period compared to the same period last year. Through technological improvements, expansion, and operational optimization, the company quickly released production capacity and accurately seized the opportunity of rising metal prices to achieve full production and sales. 3. Shandong Jinling Mining: Suspends listing for the transfer of 100% equity and debt of Jingang Mining Shandong Jinling Mining announced the suspension of the listing for the transfer of 100% equity and debt of Tashikuergan County Jingang Mining Co., Ltd. in the Shandong Property Rights Exchange. As of October 16, 2025, the company's second public listing announcement period expired without receiving any eligible intending transferees. After company research, it was decided to suspend the listing for this project. 4. Hydsoft Technology: Controlling shareholder, actual controller, and concerted action person voluntarily commit not to reduce their holdings of company shares for a specific period Hydsoft Technology announced that it has received a Letter of Commitment from its controlling shareholder, Shen Hui Holdings, actual controller Yu Hao, and concerted action person Huibo Chuangzhan, regarding not reducing their holdings of the company's shares for the first 6 months after the first public offering of shares before the completion of this restructuring. If there are changes in the number of locked shares during the lock-up period due to issues such as capital reserve conversion into share capital or distribution of stock dividends, the locked shares will be adjusted accordingly. 5. Zhejiang Sanhua Intelligent Controls: The company plans to adjust the upper limit of the repurchase price from 35.75 yuan per share to 60 yuan per share Zhejiang Sanhua Intelligent Controls (002050.SZ) announced that the company plans to adjust the upper limit of the repurchase price from 35.75 yuan per share to 60 yuan per share, and extend the repurchase period to February 28, 2026. This adjustment is based on the recognition of the company's long-term value and development prospects, as well as to ensure the smooth implementation of the repurchase plan. Other details of the repurchase plan remain unchanged. The company has repurchased 1.5068 million shares through centralized bidding method, with a transaction amount of 35.9715 million yuan. Operational performance 1. Hangzhou Hikvision Digital Technology: Net profit increased by 20.31% year-on-year in the third quarter Hangzhou Hikvision Digital Technology released its third quarter report for 2025, with third quarter revenue of 23.94 billion yuan, a year-on-year increase of 0.66%; net profit was 3.662 billion yuan, a year-on-year increase of 20.31%. Revenue for the first three quarters was 65.758 billion yuan, up 1.18% year-on-year; net profit was 9.319 billion yuan, up 14.94% year-on-year. Basic earnings per share were 0.399 yuan. 2. Kewell Technology: Net profit increased by 110.36% year-on-year in the third quarter Kewell Technology disclosed its third quarter report for 2025, with the company achieving operating income of 145 million yuan in the third quarter, an increase of 17.9% year-on-year; net profit attributable to the mother was 20.5946 million yuan, an increase of 110.36% year-on-year. Net profit attributable to the mother for the first three quarters was 51.6002 million yuan, a decrease of 0.09% year-on-year. 3. Sitech: Net profit expected to increase by 140% to 169% year-on-year in the first three quarters Sitech announced that it expects to achieve a net profit attributable to the owner of the parent company of 656 million to 736 million yuan in the first three quarters of 2025, an increase of 140% to 169% year-on-year. During the reporting period, the company continued to deepen cooperation with multiple customers in the smartphone field, products met more application demands, and the volume of advanced 50 million pixel products based on Lofic HDR2.0 technology developed by the company increased significantly. The production and shipment of a variety of products based on the domestic Stacked BSI platform also contributed to a significant increase in the company's revenue in the smartphone field. 4. Shentong Technology Group: Net profit increased by 452.62% year-on-year in the third quarter Shentong Technology Group released its third quarter report for 2025, with operating income of 486 million yuan in the third quarter, an increase of 61.66%, and operating income of 1.302 billion yuan in the first three quarters, up 34.65% year-on-year; net profit attributable to shareholders of the listed company was 48.982 million yuan in the third quarter, an increase of 452.62% year-on-year, and net profit for the first three quarters was 113 million yuan, an increase of 584.07% year-on-year. The main reason for the performance change was the continuous increase in customer orders (such as active oil and gas separator, new projects for A customers, etc.), as well as the increase in operating income and gross profit margin compared to the previous period. 5. Zhejiang Huayou Cobalt: Net profit increased by 39.59% year-on-year in the first three quarters Zhejiang Huayou Cobalt released its third quarter report for 2025, with operating income of 21.744 billion yuan in the third quarter, an increase of 40.85%, and operating income of 58.941 billion yuan in the first three quarters, an increase of 29.57% year-on-year; net profit attributable to shareholders of the listed company was 1.505 billion yuan in the third quarter, an increase of 11.53%, and net profit for the first three quarters was 4.216 billion yuan, an increase of 39.59% year-on-year. Basic earnings per share were 0.88 yuan. The company's profitability continued to strengthen, benefiting from the continued release of advantages in integrated industrial operations and the recovery of cobalt metal prices. 6. Sichuan Goldstone: Net profit expected to increase by 48.99% to 83.95% year-on-year in the first three quarters Sichuan Goldstone issued a performance forecast, expecting a net profit attributable to the parent company's owner of 86.6055 million yuan to 107 million yuan in the first three quarters of 2025, an increase of 48.99% to 83.95% year-on-year. During the reporting period, the company's new materials and mechanical business segments benefited from the successful commercialization of some R&D projects in the early period, achieving improvements in revenue and gross profit. 7. Grandblue Environment: Net profit expected to increase by around 15.85% year-on-year in the first three quarters Grandblue Environment announced a performance forecast for the first three quarters, estimating a net profit attributable to the owner of the parent company of around 1.605 billion yuan, an increase of around 15.85% year-on-year. Excluding one-time past income from waste electricity fees in Jining, and sewage treatment fees from the expansion project of Jinsha Chengbei Sewage Treatment Plant amounting to about 130 million yuan, the year-on-year increase is about 27.85%. The main reasons for the performance change include: 1. Starting from June of this year, the addition of CANVEST ENV Power Co., Ltd. (the company holds 52.44% of the shares) has added approximately 240 million yuan to the net profit attributable to shareholders from June to September; 2. Continuously implementing cost reduction and efficiency improvement measures has achieved good results, maintaining high operational efficiency, and the additional confirmed business compensation income from the new subsidiary Jiangxi Hanlan Energy Co., Ltd. in this period. 8. Fujian Highton Development: Net profit decreased by 38.47% year-on-year in the first three quarters Fujian Highton Development released its third quarter report for 2025, with operating income of 1.209 billion yuan in the third quarter, an increase of 34.27%, and operating income of 3.009 billion yuan in the first three quarters, an increase of 16.32% year-on-year; net profit attributable to shareholders of the listed company was 166 million yuan in the third quarter, a decrease of 1.49%, and net profit for the first three quarters was 253 million yuan, a decrease of 38.47% year-on-year. Basic earnings per share were 0.18 yuan. The significant compression of market prices year-on-year has temporarily narrowed the industry's profit margins, coupled with the steady increase in operating costs as the business scales up. The company's maintenance and maintenance expenditure for existing ships and newly purchased ships, energy conservation and emission reduction, and low-carbon environmental protection equipment transformation and optimization have led to a significant year-on-year increase in ship maintenance and material spare parts expenses, and the full benefits of new capacity have not yet been fully realized in the initial stage of operation, resulting in a significant year-on-year decline in profits. 9. Toread Holdings Group: Net profit expected to decrease by 64.62% to 70.51% year-on-year in the first three quarters Toread Holdings Group issued a performance forecast, expecting a net profit attributable to the parent company's owner of 30-36 million yuan in the first three quarters of 2025, a decrease of 64.62% to 70.51% year-on-year. The main reasons for the decline in performance are: first, the outdoor business is affected by market conditions and the pace of new product iterations, leading to lower-than-expected product sales; second, the overall development of the chip business is improving, but fluctuations in exchange rates have a negative impact on performance. 10. Sinomach General Machinery Science & Technology: Net profit decreased by 46.73% year-on-year in the third quarter Sinomach General Machinery Science & Technology released its third quarter report for 2025, with operating income of 114 million yuan in the third quarter, a decrease of 31.72%, and operating income of 526 million yuan in the first three quarters, a decrease of 5.93% year-on-year; net profit attributable to shareholders of the listed company was 3.8662 million yuan in the third quarter, a decrease of 46.73%, and net profit for the first three quarters was 35.93 million yuan, an increase of 21.6% year-on-year. Basic earnings per share were 0.03 yuan. The reason for the change in performance is that the project amount reached the revenue recognition point during this reporting period, resulting in a year-on-year decrease in the project amount. Buyback & Increase/Decrease Holdings 1. Tonghua Dongbao Pharmaceutical: Plans to repurchase company shares for 20-40 million yuan Tonghua Dongbao Pharmaceutical announced plans to repurchase company shares for 20-40 million yuan. The repurchased shares will be used for employee share ownership plans and/or equity incentives; the repurchase price will not exceed 10 yuan per share. 2. Hunan Silver: Second largest shareholder, Chenzhou Guokong, plans to reduce its holdings by up to 56.46 million shares Hunan Silver (002716.SZ) announced that its shareholder Chenzhou Guokong, with a stake of more than 5%, plans to reduce its holdings of the company's shares by up to 56.46 million shares, representing 2.00% of the total share capital, through centralized bidding and block trading from November 10, 2025, to February 9, 2026. Large Orders 1. Xinjiang Communications Construction Group: Wins 5.56 billion yuan construction project Xinjiang Communications Construction Group announced that the company has received a "Bid Winning Notice" and has been designated as the winning bidder for the construction project of the G217 line from Shache to Tashikuergan County (first batch) construction section ST-2, with a bid price of 5.56 billion yuan. This article is reprinted from Tencent Stock Selection. Editor: Li Fo.