Core Viewpoint - 聚合顺's stock price has shown fluctuations with a slight increase of 2.36% on November 6, 2023, while the company faces a decline in revenue and profit year-on-year [1][2]. Group 1: Stock Performance - As of November 6, 2023, 聚合顺's stock price is reported at 11.70 yuan per share, with a trading volume of 32.38 million yuan and a turnover rate of 0.90%, resulting in a total market capitalization of 3.68 billion yuan [1]. - Year-to-date, 聚合顺's stock price has decreased by 1.16%, but it has increased by 7.73% over the last five trading days [1]. - The company has experienced a net outflow of 59,100 yuan in principal funds, with large orders accounting for 8.18% of purchases and 8.36% of sales [1]. Group 2: Company Overview - 聚合顺新材料股份有限公司, established on November 1, 2013, and listed on June 18, 2020, is located in Hangzhou, Zhejiang Province, focusing on the research, production, and sales of nylon new materials [1]. - The revenue composition of 聚合顺 includes 65.57% from fiber-grade slices, 30.63% from engineering plastic-grade slices, 3.33% from film-grade slices, and 0.43% from other slices [1]. Group 3: Financial Performance - For the period from January to September 2025, 聚合顺 reported a revenue of 4.367 billion yuan, reflecting a year-on-year decrease of 18.12%, while the net profit attributable to shareholders was 140 million yuan, down 40.25% year-on-year [1]. - Since its A-share listing, 聚合顺 has distributed a total of 295 million yuan in dividends, with 198 million yuan distributed over the past three years [2]. Group 4: Shareholder Information - As of October 31, 2025, 聚合顺 has 17,400 shareholders, an increase of 2.77% from the previous period, with an average of 18,111 circulating shares per shareholder, a decrease of 2.69% [1]. - Among the top ten circulating shareholders, 富国优化增强债券C holds 5.7579 million shares, an increase of 3.5965 million shares from the previous period, while 华夏价值精选混合A is a new entrant with 2.5980 million shares [2].

Group 1: Report Summary 1. Reported Industry Investment Rating - No information provided 2. Core Viewpoints - After the resolution to cancel the board of supervisors is passed at the general meeting on November 12, 2025, the audit committee will take over the relevant duties of the former board of supervisors, and independent directors will play a key role in corporate governance [24] - The company focuses on R & D innovation, has a unique production supporting system, and is committed to cost - reduction and efficiency - enhancement. It will continue to adhere to important strategies such as innovation - driven development and sustainable development [25] - The company has no dividend plan in the third quarter of 2025 [26] - In the first three quarters of 2025, the company's R & D expenses were 14,281.62 million yuan, and it had 15 invention patents and 58 utility model patents as of the end of the first half - year. It will continue to expand and research in the field of high - value - added products [26] - The company has multiple high - end and differentiated engineering plastic - grade nylon models. In the first half of 2025, engineering plastic - grade slices accounted for 30.64% of the income, and can be widely used in many downstream industries [27] 3. Summary by Directory (1) Research Basic Situation - Research object: Jvheshun [17] - Industry: Chemical products [17] - Reception time: November 5, 2025 [17] - Reception personnel: Company chairman Fu Changbao, general manager Mao Xinhua, financial director Yao Shuangyan, board secretary Chen Xiaowen, independent directors Zhou Mingsheng, Han Linjing, and Yin Dejun [17] (2) Detailed Research Institutions - Institutions and personnel: Investors, urban commercial banks [20] (3) Research Institution Proportion - No information provided (4) Main Content Data - Regarding the change of independent directors' responsibilities: After the resolution to cancel the board of supervisors is passed, the audit committee will take over the relevant duties of the former board of supervisors, and independent directors will play a more important role in corporate governance [24] - Company's competitiveness and development strategy: The company focuses on R & D innovation, has cost advantages, a unique production supporting system, and a wide - range sales network. It will continue to adhere to important strategies and strengthen its competitive advantages [25] - Dividend plan: There is no dividend plan in the third quarter of 2025 [26] - R & D investment and patents: In the first three quarters of 2025, R & D expenses were 14,281.62 million yuan. As of the end of the first half - year, there were 15 invention patents and 58 utility model patents. Future R & D will focus on high - value - added products [26] - R & D direction of engineering plastics: The company has multiple high - end and differentiated engineering plastic - grade nylon models. In the first half of 2025, engineering plastic - grade slices accounted for 30.64% of the income and can be widely used in many downstream industries [27]

一、业绩说明会召开基本情况 2025 年 11 月 5 日上午 10:00-11:00，公司通过上海证券交易所上证路演中 心（网址：http://roadshow.sseinfo.com/）以网络方式召开了"2025 年第三 季度业绩说明会"。公司董事长傅昌宝先生、总经理毛新华先生、财务总监姚双 燕女士、董事会秘书陈晓雯女士、独立董事周明生先生、韩林静女士、尹德军先 生出席了本次说明会并与投资者进行了沟通交流，就投资者关注的问题进行了回 复。 二、本次说明会投资者提出的主要问题及公司的回复情况 在本次说明会上，公司就投资者关心的问题给予了答复，并对相关问题进行 了梳理，主要问题及答复如下： | 证券代码：605166 | 证券简称：聚合顺 | 公告编号：2025-105 | | --- | --- | --- | | 转债代码：111003 | 转债简称：聚合转债 | | | 转债代码：111020 | 转债简称：合顺转债 | | 聚合顺新材料股份有限公司 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、 ...

证券日报网讯聚合顺（605166）11月4日在互动平台回答投资者提问时表示，截至2025年10月31日收 盘，公司股东人数为17377户。 ...

| 交易日期 | 证券简称 | 证券代码 | | | 成交价(元) 成交金额(万元) 成交量(*) 买入营业部 | | 卖出营业部 | 是否为专场 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-11-04 | 聚合顺 | 605 Tee | 10.7 | 535 | 50 | 中信证券股份有限 | Same Bank | 잡 | | 2025-11-04 | 聚合顺 | 605 Tee | 10.7 | 321 | 30 | Carrester | 公司 2017年 11:20 | KI | | 2025-11-04 | 聚合顺 | 605166 | 10.7 | 250.38 | 23.4 | 机构专用 | 公司 2017年 | Ka | | 2025-11-04 | 聚合顺 | 605 Tee | 10.7 | 214 | 20 | - - - - - | SERVERSEE | 播 | | 2025-11-04 | 聚合顺 | 605166 | 10.7 | 203.3 | 19 | Comments of the pr ...

聚合顺新材料股份有限公司 2025 年第五次临时股东大会会议资料 聚合顺新材料股份有限公司 2025 年第五次临时股东大会 会议资料 聚合顺新材料股份有限公司 2025 年第五次临时股东大会会议资料 聚合顺新材料股份有限公司 2025 年第五次临时股东大会会议须知 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证大会 的顺利进行，根据中国证监会《上市公司股东会规则》及《聚合顺新材料股份有限公 司章程》（以下简称"《公司章程》"）的规定，特制定本须知： 2025 年 11 月 12 日 一、聚合顺新材料股份有限公司（以下简称"公司"）根据《公司法》《证券法》 《上市公司股东会规则》及《公司章程》的规定，认真做好召开股东大会的各项工作。 二、本次大会期间，全体参会人员应以维护股东的合法权益，确保大会的正常秩 序和议事效率为原则，自觉履行法定义务。 三、为保证本次大会的严肃性和正常秩序，除出席会议的股东及股东代理人、董 事、监事、公司高级管理人员、公司聘任律师及中介机构外，公司有权依法拒绝其他 人员入场，对于干扰大会秩序，寻衅滋事和侵犯其他股东合法权益的行为，公司有权 予以制止并及时报告有关部门查 ...

Group 1 - The company, 聚合顺, announced that as of October 31, 2025, the total external guarantees provided by the company and its subsidiaries amount to 2.6 billion yuan, with an outstanding balance of approximately 1.919 billion yuan, representing 135.17% and 99.79% of the company's most recent audited net assets, respectively [1][1][1] - All guarantee objects are subsidiaries of the company [1]

| 证券代码：605166 | 证券简称：聚合顺 | 公告编号：2025-104 | | --- | --- | --- | | 转债代码：111003 | 转债简称：聚合转债 | | | 转债代码：111020 | 转债简称：合顺转债 | | 聚合顺新材料股份有限公司 关于为子公司提供担保的公告 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。 重要内容提示： 担保对象及基本情况 | | | 被担保人名称 本次担保金额 | 10,000 | 山东聚合顺鲁化新材料有限公司 万元 | | | --- | --- | --- | --- | --- | --- | | 担 保 | 对 | | | | | | 象一 | | 实际为其提供的担保余额 | 111,935 | | 万元（含本次） | | | | 是否在前期预计额度内 | ☑是 | □否 | □不适用：________ | | | | 本次担保是否有反担保 | 是 | ☑否 | □不适用：________ | 累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | ...

Group 1 - The report highlights that Q3 performance met expectations with a continuous increase in membership numbers for Focus Technology, achieving a revenue of 490 million yuan, a year-on-year increase of 17% [4][5] - The report indicates that the company’s net profit for Q3 was 122 million yuan, showing a year-on-year decrease of 2%, while the net profit excluding non-recurring items was 118 million yuan, down 3.4% year-on-year [5][6] - The report notes that the company’s gross margin was 78.5%, a decrease of 1.4 percentage points year-on-year, and the net profit margin was 24.5%, down 5.2 percentage points year-on-year [5][6] Group 2 - The report states that Kuaijiao's revenue for the first three quarters was 3.174 billion yuan, a year-on-year decrease of 27.24%, with a net profit of 742 million yuan, down 43.39% year-on-year [10][11] - In Q3, Kuaijiao's revenue was 643 million yuan, a year-on-year decrease of 46.23%, and the net profit was 27 million yuan, down 92.55% year-on-year [10][11] - The report indicates that the decline in high-end and mid-range liquor sales was significant, while low-end liquor saw a growth of 117.28% year-on-year [12] Group 3 - The report mentions that Jinshi Resources achieved a revenue of 2.758 billion yuan in the first three quarters, a year-on-year increase of 50.73%, while the net profit was 236 million yuan, down 5.88% year-on-year [15][17] - In Q3, the company reported a revenue of 1.033 billion yuan, a year-on-year increase of 45.21%, and a net profit of 109 million yuan, up 32.29% year-on-year [16][18] - The report highlights that the company’s cash flow from operating activities for the first three quarters was 462 million yuan, an increase of 24.80% year-on-year [15][17] Group 4 - The report indicates that Wanze Co. achieved a revenue of 941 million yuan in the first three quarters, a year-on-year increase of 21%, with a net profit of 170 million yuan, up 22.45% year-on-year [22][23] - In Q3, the company reported a revenue of 525 million yuan, a year-on-year decrease of 2%, but a net profit increase of 31% year-on-year [24][43] - The report notes that the company has significant production capacity in high-temperature alloy components, with various agreements in place for further expansion [23][26] Group 5 - The report states that Lu'an Huanneng's revenue for the first three quarters was 21.1 billion yuan, a year-on-year decrease of 20.8%, with a net profit of 1.55 billion yuan, down 44.45% year-on-year [28][29] - In Q3, the company reported a revenue of 7.03 billion yuan, a year-on-year decrease of 21.8%, and a net profit of 210 million yuan, down 64% year-on-year [28][29] - The report highlights that the company plans to shut down its Xidong Coal Mine to improve operational efficiency and reduce losses [30][31] Group 6 - The report indicates that Mango Super Media's Q3 revenue was 3.099 billion yuan, a year-on-year decrease of 6.58%, with a net profit of 252 million yuan, down 33.47% year-on-year [32][33] - The report notes that increased content and R&D investments led to higher costs, impacting profitability [33][34] - The report highlights that advertising revenue returned to positive growth in Q3, with new shows expected to drive further engagement [35][36] Group 7 - The report states that Hangya Technology achieved a revenue of 530 million yuan in the first three quarters, a year-on-year increase of 1.95%, with a net profit of 78 million yuan, down 16.04% year-on-year [38][39] - In Q3, the company reported a revenue of 161 million yuan, a year-on-year decrease of 10.87%, and a net profit of 17 million yuan, down 34.78% year-on-year [40][41] - The report indicates that the company is focusing on new product development to drive future growth [39][41] Group 8 - The report mentions that Shandong Weida achieved a revenue of 1.439 billion yuan in the first three quarters, a year-on-year decrease of 11%, with a net profit of 230 million yuan, up 15% year-on-year [43][44] - In Q3, the company reported a revenue of 525 million yuan, a year-on-year decrease of 2%, but a net profit increase of 31% year-on-year [43][44] - The report highlights the company's strong cash flow and potential for growth in new business areas [44][45] Group 9 - The report indicates that Dinglong Co. achieved a revenue of 2.698 billion yuan in the first three quarters, a year-on-year increase of 11.2%, with a net profit of 519 million yuan, up 38% year-on-year [46][47] - In Q3, the company reported a revenue of 967 million yuan, a year-on-year increase of 6.6%, and a net profit of 208 million yuan, up 31.5% year-on-year [47][48] - The report highlights the strong performance of the semiconductor business, contributing significantly to overall growth [48]

Core Insights - The company reported a significant decline in revenue and net profit for the first three quarters of 2025, with total revenue of 4.367 billion yuan, down 18.12% year-on-year, and a net profit attributable to shareholders of 140 million yuan, down 40.25% year-on-year [1][2][3] Financial Performance - For the first three quarters of 2025, the company achieved a revenue of 4.367 billion yuan, with nylon chip revenue contributing 4.365 billion yuan, a decrease of 18.09% year-on-year. The production volume of nylon chips was 449,500 tons, an increase of 10.52% year-on-year, while sales volume reached 442,100 tons, up 9.32% year-on-year [2][3] - In Q3 2025, the company reported a revenue of 1.337 billion yuan, down 26.35% year-on-year and 8.87% quarter-on-quarter. The net profit for the quarter was 29 million yuan, a decrease of 64.15% year-on-year and 2.85% quarter-on-quarter [1][3][4] - The gross profit margin for the first three quarters was 7.07%, down 1.33 percentage points year-on-year, while the net profit margin was 3.61%, down 1.64 percentage points year-on-year [1][3] Cost and Expenses - The company’s selling expense ratio for the first three quarters was 0.24%, up 0.11 percentage points year-on-year, while the management expense ratio was 0.76%, an increase of 0.23 percentage points year-on-year. The R&D expense ratio was 3.27%, up 0.48 percentage points year-on-year [3][4] - In Q3 2025, the selling expense ratio was 0.20%, up 0.08 percentage points year-on-year, and the management expense ratio was 0.78%, an increase of 0.25 percentage points year-on-year [4] Cash Flow - The net cash flow from operating activities for the first three quarters was 96 million yuan, down 73.80% year-on-year. In Q3 2025, the net cash flow from operating activities was -18 million yuan, a decline of 105.95% year-on-year [1][3][5] Market Outlook - The company is focusing on high-end nylon materials, with ongoing capacity expansion projects. The demand for nylon high-end materials is expected to increase, supported by the development of downstream industries and improvements in production technology [5][6] - The company has multiple production bases and is progressing with projects aimed at enhancing production capacity, including a significant upgrade to a high-value production line [5][6] Revenue Forecast - The company forecasts revenues of 5.805 billion yuan, 7.979 billion yuan, and 9.184 billion yuan for 2025, 2026, and 2027 respectively, with net profits of 180 million yuan, 319 million yuan, and 450 million yuan for the same years [6]