Core Viewpoint - The company, Leibotech (688056.SH), has successfully passed the re-evaluation for the national-level "Specialized, Refined, Characteristic, and Innovative" small giant enterprise title, which is valid for three years, reflecting government recognition of its innovation capabilities and market competitiveness [1] Group 1: Company Recognition - The company was initially recognized as a national-level "Specialized, Refined, Characteristic, and Innovative" small giant enterprise in 2022, with a validity period of three years [1] - The recent announcement from the Beijing Municipal Bureau of Economy and Information Technology confirms the company's continued status as a national-level small giant enterprise [1] Group 2: Impact on Future Development - The successful re-evaluation enhances the company's visibility and market competitiveness, which is expected to have a positive impact on its future development [1] - The company aims to leverage this recognition to focus on its core business, emphasizing innovation and research and development as key drivers of growth [1] - The company plans to continue enhancing its core competitiveness and industry influence, striving to become a leading and globally influential manufacturer in the instrumentation sector [1]

Investment Rating - The report adjusts the investment rating to "Recommended" for the company, indicating an expected outperformance of 10%-20% relative to the benchmark index over the next six months [9][20]. Core Insights - The company reported a 23% year-on-year growth in non-recurring net profit for Q3, indicating a potential for new product launches to drive future growth [2][9]. - Despite a decline in revenue for the first three quarters of 2025, the company achieved a slight increase in net profit for Q3, suggesting an improving trend in profitability [2][9]. - The company’s core product received authoritative recognition, and new products are being launched, which are expected to contribute to future growth [9]. - The company has successfully expanded its overseas business, with foreign revenue increasing by 14.76% year-on-year, now accounting for 20.24% of total revenue [9]. Financial Performance Summary - For the first three quarters of 2025, the company achieved revenue of 285 million yuan, a decrease of 8.43% year-on-year, and a net profit of 33 million yuan, down 7.26% year-on-year [2]. - The Q3 revenue was 93 million yuan, down 4.22% year-on-year, while the net profit for Q3 was 11 million yuan, up 1.76% year-on-year [2]. - The company’s gross margin for the first three quarters of 2025 was 45.80%, an increase of 0.94 percentage points year-on-year [9]. Future Projections - The company is expected to see net profits of 43 million yuan, 54 million yuan, and 66 million yuan for 2025, 2026, and 2027 respectively, with year-on-year growth rates of 10.8%, 24.8%, and 21.6% [9]. - The target price for the company is set at 40.1 yuan, reflecting a 13% upside from the current price of 35.48 yuan [4][9].

Group 1 - China Pacific Insurance's subsidiary, China Pacific Life, reported a cumulative premium income of 241.32 billion yuan for the first ten months, a year-on-year increase of 9.9% [1] - China Pacific Property Insurance, another subsidiary, achieved a cumulative premium income of 173.57 billion yuan, with a year-on-year growth of 0.4% [1] - Nocera Biopharma reported a net loss of 64.41 million yuan for the first three quarters, despite a revenue increase of 59.85% to 1.115 billion yuan [1] Group 2 - Founder Securities received approval from the China Securities Regulatory Commission to issue short-term corporate bonds not exceeding 5 billion yuan [1] - Haicheng Bonda's director plans to reduce his stake by up to 0.97%, equating to 198,400 shares [1] - Yuyuan Group intends to repurchase shares worth between 200 million and 300 million yuan, with a maximum price of 8.60 yuan per share [1] Group 3 - Huaren Shuanghe's subsidiary passed the GMP compliance inspection for a specific diabetes medication [4] - Lichong Group received project notifications from three international automotive manufacturers, with expected sales amounting to approximately 1.135 billion yuan [6] - Deyang Co. is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy [7] Group 4 - Longxin General announced the transfer of its entire stake in a subsidiary for 105.6 million yuan, and also plans to divest another stake for 1 yuan due to poor performance [16] - Kangda New Materials decided to terminate the acquisition of a semiconductor company due to unsatisfactory due diligence progress [17] - Lu'an Environmental reported a 3.28% year-on-year increase in coal sales for October, totaling 3.78 million tons [18] Group 5 - Shanghai Port Group plans to invest 2 billion yuan to establish a new holding company with several state-owned enterprises [20] - Borui Pharmaceutical's new drug for obesity treatment has received clinical trial approval [23] - Silver Dragon Co. has completed the registration of a new energy industry fund focusing on high-growth potential projects [24] Group 6 - Hengrui Medicine received approval for a clinical trial of a prostate cancer drug [11] - Baiji Shenzhou reported a net profit of 1.139 billion yuan for the first three quarters, marking a turnaround from losses [36] - Huasheng Pharmaceutical's special medical food product has received registration certification [60]

Market Overview - The Shanghai Composite Index closed at 4017.94 points, above the five-day moving average, with an increase of 0.44% [1] - The total trading volume of A-shares reached 12,733.37 million yuan [1] Stocks Performance - A total of 1,085 A-shares have surpassed the five-day moving average, with notable stocks showing significant deviation rates [1] - The stocks with the highest deviation rates include: - Tianhong Lithium Battery (17.41%) - Baiwei Storage (11.81%) - Derui Lithium Battery (8.69%) [1] Detailed Stock Data - The following table summarizes the performance of selected stocks that broke the five-day moving average: | Stock Code | Stock Name | Daily Change (%) | Turnover Rate (%) | Five-Day MA (yuan) | Latest Price (yuan) | Deviation Rate (%) | |------------|----------------|------------------|--------------------|---------------------|---------------------|---------------------| | 920252 | Tianhong Lithium| 26.37 | 28.72 | 31.75 | 37.28 | 17.41 | | 688525 | Baiwei Storage | 15.92 | 10.86 | 130.71 | 146.14 | 11.81 | | 920523 | Derui Lithium | 14.66 | 12.36 | 30.80 | 33.48 | 8.69 | | 301162 | Guoneng Rixin | 10.76 | 4.41 | 58.82 | 63.60 | 8.13 | | 300584 | Haichen Pharma | 12.07 | 15.81 | 56.42 | 60.80 | 7.77 | | 300432 | Fulian Precision | 13.30 | 7.30 | 19.13 | 20.61 | 7.73 | | 603966 | Falan Technology | 10.03 | 10.44 | 11.22 | 12.07 | 7.56 | | 002208 | Hefei Urban Construction | 10.01 | 14.27 | 11.98 | 12.86 | 7.33 | | 000633 | Alloy Investment | 10.00 | 3.43 | 6.97 | 7.48 | 7.32 | | 301358 | Hunan Yunan | 11.64 | 5.91 | 82.36 | 88.27 | 7.18 | | 002227 | Aotexun | 9.99 | 6.24 | 13.88 | 14.87 | 7.12 | | 001266 | Hongying Intelligent | 10.01 | 10.99 | 30.78 | 32.97 | 7.12 | | 003022 | Lianhong New Technology | 10.00 | 1.46 | 20.88 | 22.32 | 6.91 | | 301379 | Tianshan Electronics | 9.65 | 11.89 | 28.21 | 30.10 | 6.70 | | 603188 | Yabang Shares | 10.02 | 8.83 | 5.25 | 5.60 | 6.67 | | 600686 | Jinlong Automobile | 9.08 | 6.54 | 15.43 | 16.46 | 6.66 | | 002108 | Cangzhou Ming | 10.04 | 8.50 | 4.93 | 5.26 | 6.61 [1][2]

证券代码：688056 证券简称：莱伯泰科 公告编号：2025-037 重要内容提示： 投资者可于 2025 年 11 月 12 日 （星期三） 至 11 月 18 日 （星期二）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 zqtzb@labtechgroup.com 进行提问。公司将在说明会上对投资者普遍关注的问题 进行回答。 北京莱伯泰科仪器股份有限公司（以下简称"公司"）已于 2025 年 10 月 28 日发布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公 司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 11 月 19 日（星 期三）16:00-17:00 举行 2025 年第三季度业绩说明会，就投资者关心的问题进行 交流。 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年第三季度的经 营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许 的范围内就投资者普遍关注的问题进行回答。 二、 说明会召开的时间、地点 会议召开时间：2025 年 11 月 19 日（星期三）16:00-17: ...

Job Opportunities - Various sales positions are available in the instrumentation and testing industry, including roles at Agilent, LanYou Technology, and others, with salary ranges from 5k to 22k per month depending on the position and experience [3][5][8][10][12][14][16][18][20][22]. - Requirements for these positions typically include a bachelor's degree in relevant fields such as chemistry, biology, or engineering, along with several years of sales experience in related industries [6][10][12][18][20][22]. Sales Engineer Roles - Sales Engineer positions are offered by companies like Jingzhi Times and Huaxia Puchuang, with salaries ranging from 7k to 15k per month [10][20]. - Candidates are expected to have a strong background in science or engineering, excellent communication skills, and the ability to work independently while managing customer relationships [10][12][20]. R&D Positions - R&D roles are available at companies such as Jingtai Technology and Laibotai Technology, with salaries ranging from 9k to 45k per month [24][27][29][33]. - These positions require advanced degrees in fields like analytical chemistry or mechanical engineering, along with specific technical skills related to instrumentation and software development [25][27][29][33]. Application and Technical Support Roles - Positions such as Application Technology Engineer at Puyue Technology focus on providing technical support and developing application methods for laboratory instruments, with salaries around 8k to 13k per month [40]. - Candidates should have a strong understanding of analytical instruments and the ability to communicate effectively with clients and experts [40].

Core Viewpoint - The stock price of Leibotech has shown a significant increase of 31.52% year-to-date, indicating positive market sentiment towards the company [2]. Group 1: Stock Performance - On November 4, Leibotech's stock rose by 2.01%, reaching a price of 37.57 CNY per share, with a trading volume of 13.31 million CNY and a turnover rate of 0.53% [1]. - The stock has experienced a 2.68% increase over the last five trading days, a 3.93% increase over the last 20 days, and a 2.06% increase over the last 60 days [2]. Group 2: Company Overview - Leibotech, established on January 8, 2002, and listed on September 2, 2020, is located in the Tianzhu Airport Industrial Zone, Shunyi District, Beijing [2]. - The company's main business includes the research, production, and sales of experimental analysis instruments, with revenue composition as follows: 78.82% from experimental analysis instruments, 12.57% from consumables and services, 7.88% from clean and environmentally friendly laboratory solutions, and 0.74% from other sources [2]. Group 3: Financial Performance - For the period from January to September 2025, Leibotech reported a revenue of 285 million CNY, a year-on-year decrease of 8.43%, and a net profit attributable to shareholders of 32.55 million CNY, down 7.26% year-on-year [2]. - As of September 30, 2025, the number of shareholders decreased by 12.49% to 3,181, while the average circulating shares per person increased by 14.27% to 21,204 shares [2]. Group 4: Dividends and Shareholding - Since its A-share listing, Leibotech has distributed a total of 158 million CNY in dividends, with 115 million CNY distributed over the past three years [3]. - As of September 30, 2025, the eighth largest circulating shareholder is Dazheng Rui Xiang Mixed A (008269), holding 568,100 shares, which is a decrease of 114,200 shares compared to the previous period [3].

Investment Rating - The report assigns a "Buy-A" investment rating with a 6-month target price of 38.56 CNY, which corresponds to a dynamic P/E ratio of 60 times for 2025 [3][11]. Core Insights - The company experienced a slight decline in revenue and net profit in the first three quarters of 2025, with revenue of 285 million CNY, down 8.43% year-on-year, and a net profit of 32.55 million CNY, down 7.26% year-on-year. However, Q3 showed signs of improvement with a revenue of 92.91 million CNY, down 4.22% year-on-year, and a net profit of 11.45 million CNY, up 1.76% year-on-year [1][2]. - The company is focusing on both organic growth and external expansion, launching five new products in September 2025 that target emerging fields such as new materials and new energy [2][9]. - The projected revenue growth rates for 2025-2027 are 2.0%, 8.8%, and 8.9%, respectively, with net profit growth rates of 10.7%, 17.3%, and 36.3% [3][9]. Financial Performance - For the first three quarters of 2025, the overall gross margin was 45.80%, an increase of 0.94 percentage points year-on-year, and the net profit margin was 11.43%, up 0.14 percentage points year-on-year [1]. - The company has a total market capitalization of approximately 2.46 billion CNY and a circulating market capitalization of the same amount, with a total share capital of 67.45 million shares [5][8]. Revenue Breakdown and Forecast - The main business of analytical instruments has seen a steady increase in market share, with expected revenue growth rates for laboratory instruments of 3.00%, 10.00%, and 10.00% for 2025-2027 [9][10]. - The revenue from consumables and services is projected to grow by 2.00%, 5.00%, and 5.00% during the same period, while the clean and environmental laboratory solutions segment is expected to decline by 5.00% in 2025 before recovering [9][10].

Core Viewpoint - The article highlights various job opportunities in the instrumentation and analysis sector, emphasizing the qualifications and responsibilities required for each position [3][5][8][9][12][14][17][18][20][22]. Job Opportunities - Agilent is seeking an Instrument Sales professional in Hangzhou, requiring a bachelor's degree and over three years of relevant sales experience [3]. - Shimadzu is looking for a Product Manager in Shanghai, offering a salary range of 10k-15k, with responsibilities including market research and product development [5][6]. - LabTech is hiring a Senior Application Engineer for ICPMS in Beijing, with a salary range of 20k-30k, focusing on application development and customer support [8]. - Beifen-Ruili is in need of an Application Engineer in Beijing, offering a salary range of 9k-18k, requiring over three years of experience in analytical chemistry [9][10]. - Haineng Future is looking for a Technical Support Engineer in Beijing, with a salary range of 12k-18k, requiring experience in laboratory analysis instruments [12]. - Zhipu is hiring a Senior Software Engineer in Beijing, with a salary range of 10k-20k, requiring expertise in software development and instrument control [14][15]. - Xinghao Electronics is seeking an EMC and Reliability Testing Engineer in Guangzhou, with a focus on electric vehicle components [17]. - Kailai is looking for a Laboratory Supervisor in Shanghai, offering a salary range of 8k-10k, requiring over five years of laboratory management experience [18]. - Panno is hiring a Sales Engineer in Haikou, with a salary range of 10k-15k, requiring a background in science and engineering [20]. - Jinshi is looking for a Refrigeration Engineer in Nanjing, open to fresh graduates or entry-level candidates [22][23].

Core Viewpoint - 莱伯泰科 is a leading company in the domestic experimental analysis instrument sector, focusing on R&D, production, and sales, with a full industry chain advantage [1] Group 1: Business Performance - In Q3 2025, 莱伯泰科 achieved revenue of 285 million yuan, ranking 35th among 61 peers, with the industry leader 川仪股份 generating 4.89 billion yuan [2] - The net profit for the same period was 32.55 million yuan, also ranking 35th, while the top performer 川仪股份 reported a net profit of 469 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, 莱伯泰科's debt-to-asset ratio was 11.55%, lower than the industry average of 27.43%, indicating strong solvency [3] - The gross profit margin was 45.80%, higher than the industry average of 43.50%, reflecting robust profitability [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 12.49% to 3,181, while the average number of shares held per shareholder increased by 14.27% to 21,200 shares [5] - The eighth largest shareholder, 大成睿享混合 A, reduced its holdings by 114,200 shares [5] Group 4: Management Compensation - The chairman and general manager, 胡克, received a salary of 2.5117 million yuan in 2024, an increase of 111,000 yuan from 2023 [4] Group 5: Analyst Predictions - 光大证券 revised down the net profit forecast for 2025 and 2026 to 50 million and 58 million yuan, respectively, while introducing a new forecast for 2027 at 67 million yuan [5] - 国泰海通证券 maintained net profit forecasts for 2025, 2026, and 2027 at 57 million, 80 million, and 94 million yuan, respectively, and raised the target price to 44.10 yuan [6]