Summary of Conference Call for Meixinsheng Company Company Overview - Meixinsheng Company reported a significant net profit growth of 132% year-on-year for the first three quarters of 2025, driven by rapid new product uptake, market expansion, and increased customer demand [2][3]. Key Financial Highlights - Total sales revenue reached 421 million yuan, a year-on-year increase of 46.47%, with Q3 sales growing by 66.31% [3]. - Net profit attributable to shareholders was 10.32 million yuan, with Q3 net profit also increasing by 132.74% year-on-year and 297.76% quarter-on-quarter [3]. Product Line Performance - Wireless charging and signal chain product lines generated combined revenue of 299 million yuan, accounting for 70.96% of total revenue, with a year-on-year growth of 111% [2][3]. - SOC business sales reached 188 million yuan, while signal chain sales were approximately 120 million yuan [5]. Future Product Development - The company plans to launch new products in AI sensors, robotics, and automotive-grade products, with expectations for significant growth in the consumer electronics sector in Q1 2026 [2][5]. - New products in the signal chain segment are anticipated to provide exponential growth opportunities [2][5]. AI Sensor Technology - AI sensors integrate RGB, DVS, and TOF technologies, applicable in gesture recognition, dynamic range enhancement, and rapid image capture, with extensive use in AR/VR applications [6]. Gross Margin Improvement - Gross margin improvements are attributed to the development of high-margin new products, including wireless charging and signal chain expansions [7]. - The company expects further increases in sales volume from mature chips in 2026, leading to a significant rise in the signal chain business's share [7]. Supply Chain and Localization - The company is advancing supply chain localization to ensure supply security and meet domestic customer demands, focusing on enhancing product functionality and performance rather than solely relying on localization for margin improvement [10]. TOF Technology Development - TOF technology is under active development, with plans for market introduction by the end of 2026, requiring specialized IC system support [9]. Market Expansion and Applications - The company is expanding its optical chip market, with applications in robotics and automotive sectors, including distance detection for various robotic applications [8][18]. - The company is also focusing on the development of magnetic sensors, which are expected to complement optical sensors in various applications [17]. Strategic Outlook - The company aims to achieve significant growth in the sensor market over the next few years, with a focus on new product launches in power management and fast charging solutions [19]. - Future revenue growth is expected to come from consumer electronics, robotics, and electric vehicle-related businesses [25][26]. Investment and Acquisition Plans - The company is considering investments and acquisitions, particularly in early-stage projects that can provide strategic synergies, focusing on sectors like mobile, automotive, and robotics [25]. Conclusion - Meixinsheng Company is positioned for substantial growth driven by innovative product development, market expansion, and strategic investments in emerging technologies and sectors [26].

Core Viewpoint - The company reported significant growth in revenue and net profit for Q3 2025, with net profit increasing by 132.74% year-on-year and 297.76% quarter-on-quarter [1] Financial Performance - The company achieved a total revenue of 421.58 million yuan for the first three quarters, representing a year-on-year growth of 46.47%, with Q3 revenue growth accelerating to 66.31% [2] - Net profit attributable to shareholders reached 10.32 million yuan for the first three quarters, up 132% year-on-year, indicating simultaneous growth in scale and profit [2] - The comprehensive gross margin improved by 10.79 percentage points in Q3, driven by the continuous launch of high-margin products [2] - The company reduced its expense ratio by 25.20 percentage points in Q3 while maintaining R&D investment [2] Product and Market Development - The company is experiencing accelerated application in emerging sectors, particularly in AI and robotics, with products entering mass production for several well-known brands [3] - Key technological breakthroughs in single-point ToF have been achieved, with applications in robotics, smart home devices, and more, leading to scale production [3] - The company plans to expand its machine vision product line and enhance its offerings in the AR/AI glasses sector, aiming for rapid growth as downstream demand increases [3] - The company is focusing on the robotics and AI/VR sectors, enhancing its product layout from intelligent perception to imaging technology [3]

Core Insights - As of October 21, 140 companies have released their Q3 2025 reports, with 103 reporting year-on-year profit growth and 101 showing revenue growth [1] - Notably, 85 companies experienced simultaneous growth in both net profit and revenue, while 21 companies reported declines in both metrics [1] - A total of 24 companies achieved a doubling of their profit growth, with Guanghua Technology leading at an impressive 1233.70% increase [1] Financial Performance Summary - Guanghua Technology reported earnings per share of 0.1944, with a net profit of 90.39 million and a year-on-year profit growth of 1233.70%, alongside a revenue of 2044.34 million, reflecting an 11.50% increase [1] - Other notable performers include: - ZhiJia Technology with a net profit of 299.72 million, a profit growth of 727.74%, and revenue of 1560.44 million, up 113.96% [1] - Shentong Technology with a net profit of 113.27 million, a profit growth of 584.07%, and revenue of 1301.96 million, up 34.65% [1] - Hanwujiyu with a net profit of 1604.65 million, a profit growth of 321.49%, and revenue of 4607.42 million, soaring by 2386.38% [1] - Other companies with significant profit growth include: - Xingwang Yuda with a profit growth of 260.00% and revenue of 266.43 million, up 14.97% [1] - Yonghe Co. with a profit growth of 220.39% and revenue of 3785.58 million, up 12.04% [2] - Doushi Technology with a profit growth of 182.45% and revenue of 6000.86 million, down 1.79% [2]

Core Insights - A-share companies have reported significant profit growth for the third quarter, with notable increases in net profits for several firms, indicating a positive trend in the market [1][2]. Group 1: Company Performance - Dazhu CNC reported a 142.19% year-on-year increase in net profit for the first three quarters, with revenue reaching 39.02 billion yuan, a 66.53% increase [3][4]. - Jinyi Yongci achieved a net profit growth of 220.39% year-on-year, with revenue of 37.86 billion yuan, reflecting a 12.04% increase [4]. - Jinli Permanent Magnet's revenue for the first three quarters was 5.15 billion yuan, a 161.81% increase in net profit, driven by strong sales in the new energy vehicle sector [3][4]. - Keda Xunfei reported a net profit of 1.72 billion yuan for the third quarter, marking a 202.4% increase year-on-year, despite an overall loss for the first three quarters [5]. Group 2: Market Trends - The demand for high-technology equipment in the AI PCB market is increasing, leading to a rise in sales for companies like Dazhu CNC [4]. - The price of third-generation refrigerants has risen, contributing to increased profit margins for Yonghe Shares [4]. - The overall shipbuilding industry is experiencing a positive development trend, with China Shipbuilding expecting a net profit increase of 104.30% to 126.39% year-on-year [6][7]. Group 3: Strategic Partnerships - Ningde Times has entered into strategic partnerships with JD Group and Dongfeng Commercial Vehicle to enhance collaboration in electric vehicle technology and supply chain management [9][10].

美芯晟(688458.SH)披露2025年第三季度报告，公司前三季度实现营收4.22亿元，同比增长46.47%;归属 于上市公司股东的净利润1032万元，同比增长132%;扣非净利润亏损310万元;基本每股收益0.09元。 ...

证券代码：688458 证券简称：美芯晟 公告编号：2025-052 美芯晟科技（北京）股份有限公司 第二届董事会第六次会议决议的公告 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、准确性和完整性依法承担法律责任。 一、董事会会议召开情况 美芯晟科技（北京）股份有限公司（以下简称"公司"）第二届董事会第六 次会议的会议通知于 2025 年 10 月 15 日以电子邮件方式向全体董事发出，会议 于 2025 年 10 月 20 日在公司会议室以现场结合线上通讯的方式召开。会议应出 席董事 7 人，实际出席会议董事 7 人，全体董事均出席会议，公司高级管理人员 列席本次会议。 本次会议由董事会召集人董事长程宝洪先生（Mr. CHENG BAOHONG）主 持，会议召集和召开程序符合《中华人民共和国公司法》等相关法律法规和《美 芯晟科技（北京）股份有限公司章程》规定。 二、董事会会议审议情况 与会董事认真审议了议案，经与会董事充分讨论，会议决议如下： （一）审议通过《关于公司<2025 年第三季度报告>的议案》 公司 2025 年第三季度报告的编制和审核程序符 ...

格隆汇10月20日丨美芯晟(688458.SH)公布，公司前三季度营业收入4.22亿元，同比增长46.47%；归属 于上市公司股东的净利润1031.98万元，同比增长132.00%；归属于上市公司股东的扣除非经常性损益的 净利润-310.39万元；基本每股收益0.09元。 ...

Core Insights - The company reported a significant increase in revenue and net profit for the third quarter of 2025, indicating strong financial performance [1] - Year-to-date figures also show substantial growth in both revenue and net profit compared to the previous year [1] Financial Performance - In Q3 2025, the company achieved operating revenue of 156 million yuan, representing a year-on-year growth of 66.31% [1] - The net profit attributable to shareholders for Q3 2025 was 5.31 million yuan, with a year-on-year increase of 132.74% [1] - For the first three quarters of 2025, the company reported total operating revenue of 422 million yuan, reflecting a year-on-year growth of 46.47% [1] - The net profit attributable to shareholders for the first three quarters was 10.32 million yuan, showing a year-on-year increase of 132% [1]

[Key Highlights](index=1&type=section&id=Key%20Highlights) This section provides an overview of the company's significant financial performance, non-recurring gains and losses, and operational drivers for the reporting period [Key Financial Data](index=1&type=section&id=Key%20Financial%20Data) The company achieved significant financial growth in Q3 2025 and year-to-date, with net profit attributable to shareholders increasing over 130%, while negative operating cash flow was primarily due to increased inventory purchases and R&D intensity decreased [Key Accounting Data and Financial Indicators](index=1&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) The company achieved significant growth in operating revenue and net profit in Q3 2025 and year-to-date, despite negative operating cash flow due to increased inventory purchases and a decreased R&D investment ratio Key Financial Indicators for Q3 2025 and Year-to-Date | Item | Current Period | YoY Change (%) | Year-to-Date | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 156,491,252.08 RMB | 66.31 | 421,577,338.13 RMB | 46.47 | | Net Profit Attributable to Shareholders of Listed Company | 5,312,920.40 RMB | 132.74 | 10,319,756.59 RMB | 132.00 | | Net Cash Flow from Operating Activities | N/A | N/A | -82,491,902.27 RMB | -62.97 | | Total R&D Investment | 37,525,614.36 RMB | -5.85 | 111,356,930.85 RMB | 3.42 | | R&D Investment as % of Operating Revenue | 23.98 | Decrease of 18.38 percentage points | 26.41 | Decrease of 11 percentage points | [Non-recurring Gains and Losses Items and Amounts](index=2&type=section&id=Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Non-recurring gains and losses for the current period and year-to-date primarily stemmed from fair value changes in financial assets/liabilities and disposal of non-current assets, collectively positively impacting net profit Non-recurring Gains and Losses Items and Amounts | Non-recurring Gains and Losses Item | Current Period Amount (RMB) | Year-to-Date Amount (RMB) | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | 163,166.60 | 334,694.49 | | Gains/Losses from Fair Value Changes and Disposal of Financial Assets and Liabilities | 5,784,283.17 | 15,472,975.05 | | Other Non-operating Income and Expenses | -262.86 | -23,769.09 | | Less: Income Tax Impact | 892,095.78 | 2,360,212.42 | | Total | 5,055,091.13 | 13,423,688.03 | [Changes and Reasons for Key Accounting Data and Financial Indicators](index=3&type=section&id=Changes%20and%20Reasons%20for%20Key%20Accounting%20Data%2C%20and%20Financial%20Indicators) Operating revenue growth was driven by new product launches, market expansion, and increased customer demand, while profit growth resulted from improved gross margin and reduced expense ratios due to efficiency gains, and negative operating cash flow was due to increased inventory purchases - Operating revenue growth was primarily driven by the company's new product ramp-up, new market expansion, and increased customer demand[8](index=8&type=chunk) - Total profit growth was mainly due to improved comprehensive gross margin and reduced expense ratios resulting from enhanced human efficiency[8](index=8&type=chunk) - Net cash flow from operating activities decreased primarily due to increased inventory purchases for operations[9](index=9&type=chunk) - Basic earnings per share increased mainly due to the rise in net profit for the current period[9](index=9&type=chunk) [Overview of Operations in Q1-Q3 2025](index=4&type=section&id=Overview%20of%20Operations%20in%20Q1-Q3%202025) The company achieved significant operational growth in Q1-Q3 2025, with steady increases in sales revenue and gross margin driven by new product shipments, market expansion, and customer demand, particularly in wireless charging and signal chain products, while continuing to invest in AI edge, robotics, and automotive sectors - Year-to-date sales revenue reached **CNY 421.58 million**, a **46.47% year-on-year increase**; Q3 sales revenue increased by **66.31% year-on-year**[10](index=10&type=chunk) - Year-to-date net profit attributable to shareholders was **CNY 10.32 million**, a **132.00% year-on-year increase**; Q3 saw a **132.74% year-on-year increase** and a **297.76% quarter-on-quarter increase**[10](index=10&type=chunk) - Combined sales revenue from wireless charging and signal chain product lines was **CNY 299.15 million**, representing a **111.01% year-on-year increase** and accounting for **70.96% of total sales revenue**[10](index=10&type=chunk) - The company's comprehensive gross margin in Q3 was **34.34%**, an **increase of 10.79 percentage points year-on-year**[10](index=10&type=chunk) - Q3 expense ratio decreased by **25.20 percentage points year-on-year**, primarily due to improved human efficiency from continuous new product launches and increased sales performance[11](index=11&type=chunk) - The company is accelerating its presence in emerging fields, with AI edge and robotics-related products entering mass production for several well-known brands, and will continue to focus and invest in the AI edge, robotics, and automotive product sectors[11](index=11&type=chunk) Key Accounting Data and Financial Indicators (Current Period and Year-to-Date) | Item | Current Period Amount (RMB) | Current Period YoY Change (%) | Year-to-Date Amount (RMB) | Year-to-Date YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 156,491,252.08 | 66.31 | 421,577,338.13 | 46.47 | | Total Profit | 2,667,613.12 | 110.52 | 786,835.94 | 101.44 | | Net Profit Attributable to Shareholders of Listed Company | 5,312,920.40 | 132.74 | 10,319,756.59 | 132.00 | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-recurring Gains and Losses | 257,829.27 | 101.10 | -3,103,931.44 | 94.00 | | Net Cash Flow from Operating Activities | N/A | N/A | -82,491,902.27 | -62.97 | | Basic Earnings Per Share (RMB/share) | 0.05 | 133.33 | 0.09 | 131.03 | | Diluted Earnings Per Share (RMB/share) | 0.05 | 133.33 | 0.09 | 131.03 | | Weighted Average Return on Net Assets (%) | 0.29 | Increase of 1.10 percentage points | 0.55 | Increase of 2.22 percentage points | | Total R&D Investment | 37,525,614.36 | -5.85 | 111,356,930.85 | 3.42 | | R&D Investment as % of Operating Revenue (%) | 23.98 | Decrease of 18.38 percentage points | 26.41 | Decrease of 11 percentage points | | Total Assets (End of Reporting Period) | 1,969,746,866.77 | -1.36 (vs. End of Previous Year) | | | | Shareholders' Equity Attributable to Shareholders of Listed Company (End of Reporting Period) | 1,851,928,977.18 | -1.97 (vs. End of Previous Year) | | | - Total assets at the end of the reporting period were **CNY 1,969,746,866.77**, a **1.36% decrease** from the end of the previous year[4](index=4&type=chunk) - Shareholders' equity attributable to shareholders of the listed company at the end of the reporting period was **CNY 1,851,928,977.18**, a **1.97% decrease** from the end of the previous year[4](index=4&type=chunk) [Shareholder Information](index=4&type=section&id=Shareholder%20Information) This section details the company's shareholder structure, including the total number of common shareholders and the holdings of the top ten shareholders, highlighting significant ownership and concerted action agreements [Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings](index=4&type=section&id=Total%20Number%20of%20Common%20Shareholders%2C%20Preferred%20Shareholders%20with%20Restored%20Voting%20Rights%2C%20and%20Top%20Ten%20Shareholders%27%20Holdings) As of the reporting period end, the company had 7,977 common shareholders, with Leavision Incorporated as the largest shareholder at 15.96%, having a concerted action agreement with other entities, and the company's share repurchase account holding 4.72% of shares - Total number of common shareholders at the end of the reporting period: **7,977**[13](index=13&type=chunk) Top 10 Shareholders' Holdings (As of End of Reporting Period) | Shareholder Name | Shareholder Nature | Number of Shares Held (shares) | Shareholding Ratio (%) | Number of Restricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | | Leavision Incorporated | Overseas Legal Person | 17,805,040 | 15.96 | 17,805,040 | | WI HARPER FUND VII HONG KONG LIMITED | Overseas Legal Person | 6,240,029 | 5.59 | 0 | | Dongyang Boruixing Enterprise Management Partnership (Limited Partnership) | Other | 4,749,504 | 4.26 | 0 | | Auspice Bright Incorporated | Overseas Legal Person | 3,883,466 | 3.48 | 3,883,466 | | Wang Bo | Domestic Natural Person | 3,608,372 | 3.24 | 0 | | Zhuhai Hengqin Boshengxin Investment Partnership (Limited Partnership) | Other | 2,744,728 | 2.46 | 2,744,728 | | Wang Xiaobin | Domestic Natural Person | 2,260,000 | 2.03 | 0 | | Zhuhai Hengqin Xuanyu Investment Partnership (Limited Partnership) | Other | 2,034,854 | 1.82 | 2,034,854 | | China Construction Bank Co., Ltd. - Xinao Leading Growth Mixed Securities Investment Fund | Other | 1,972,442 | 1.77 | 0 | | China Construction Bank Co., Ltd. - Xinao Advanced Manufacturing Stock Securities Investment Fund | Other | 1,879,253 | 1.68 | 0 | - Leavision Incorporated, Auspice Bright Incorporated, Zhuhai Hengqin Boshengxin Investment Partnership (Limited Partnership), and Zhuhai Hengqin Xuanyu Investment Partnership (Limited Partnership) signed a **Concerted Action Agreement**[15](index=15&type=chunk) - As of the end of the reporting period, the company's dedicated share repurchase securities account held **5,262,415 A-shares**, representing a **4.72% shareholding ratio**, which is not included in the top 10 shareholders list[15](index=15&type=chunk) [Other Reminders](index=6&type=section&id=Other%20Reminders) This section highlights additional important information for investors, specifically detailing the company's ongoing share repurchase program and its progress [Other Important Information Regarding the Company's Operations During the Reporting Period Requiring Investor Attention](index=6&type=section&id=Other%20Important%20Information%20Regarding%20the%20Company%27s%20Operations%20During%20the%20Reporting%20Period%20Requiring%20Investor%20Attention) The company approved a share repurchase plan on January 16, 2025, to use over-raised funds for employee stock ownership or equity incentives, having repurchased 1,393,700 shares, or 1.2495% of total share capital, for CNY 49.95 million by September 30, 2025 - The company approved a share repurchase plan on **January 16, 2025**, intending to use over-raised funds to repurchase A-shares for employee stock ownership plans and/or equity incentives[16](index=16&type=chunk) - As of **September 30, 2025**, the company had cumulatively repurchased **1,393,700 shares**, representing **1.2495% of its total share capital**[16](index=16&type=chunk) - The total repurchase transaction amount was **CNY 49,954,672.12**, with a highest price of **CNY 41.525/share** and a lowest price of **CNY 30.12/share**[16](index=16&type=chunk) [Quarterly Financial Statements](index=6&type=section&id=Quarterly%20Financial%20Statements) This section presents the company's unaudited consolidated financial statements, including the balance sheet, income statement, and cash flow statement, for the reporting period [Type of Audit Opinion](index=6&type=section&id=Type%20of%20Audit%20Opinion) The financial statements for this quarter are unaudited - The financial statements for this quarter are **unaudited**[17](index=17&type=chunk) [Financial Statements](index=7&type=section&id=Financial%20Statements) The company disclosed unaudited consolidated financial statements, showing a slight decrease in total assets and equity but growth in financial assets and receivables, significant increases in operating revenue and net profit, negative operating cash flow, and cash outflows from investing and financing activities primarily due to share repurchases [Consolidated Balance Sheet](index=7&type=section&id=Consolidated%20Balance%20Sheet) As of September 30, 2025, total assets were CNY 1,969.75 million, slightly down from year-end 2024, with decreased cash but increased financial assets and receivables, while non-current assets grew due to equity investments, fixed assets, and deferred tax assets, and total liabilities rose, notably in lease liabilities Consolidated Balance Sheet Key Data (As of September 30, 2025 vs. December 31, 2024) | Item | September 30, 2025 (RMB) | December 31, 2024 (RMB) | Change | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 319,521,221.50 | 589,077,962.08 | Decrease | | Financial Assets Held for Trading | 999,188,706.40 | 901,706,684.23 | Increase | | Accounts Receivable | 274,791,848.71 | 191,088,269.83 | Increase | | Inventories | 120,564,677.25 | 126,545,325.23 | Decrease | | Total Current Assets | 1,809,329,982.85 | 1,870,272,014.71 | Decrease | | Investments in Other Equity Instruments | 17,020,000.00 | 7,020,000.00 | Increase | | Fixed Assets | 30,348,014.45 | 27,063,377.94 | Increase | | Deferred Income Tax Assets | 67,920,007.98 | 58,073,821.15 | Increase | | Total Non-current Assets | 160,416,883.92 | 126,641,467.66 | Increase | | Total Assets | 1,969,746,866.77 | 1,996,913,482.37 | Decrease | | Accounts Payable | 40,923,593.32 | 50,043,253.74 | Decrease | | Taxes Payable | 3,529,415.90 | 1,156,560.66 | Increase | | Total Current Liabilities | 107,140,513.07 | 105,072,051.12 | Increase | | Lease Liabilities | 10,677,376.52 | 2,743,671.86 | Significant Increase | | Total Liabilities | 117,817,889.59 | 107,815,722.98 | Increase | | Total Equity Attributable to Parent Company Shareholders | 1,851,928,977.18 | 1,889,097,759.39 | Decrease | [Consolidated Income Statement](index=9&type=section&id=Consolidated%20Income%20Statement) In Q1-Q3 2025, total operating revenue grew by 46.47% to CNY 421.58 million, with net profit turning profitable at CNY 10.32 million from a prior-year loss, while total operating costs increased, and fair value changes and asset impairment losses impacted profit Consolidated Income Statement Key Data (Q1-Q3 2025 vs. Q1-Q3 2024) | Item | Q1-Q3 2025 (RMB) | Q1-Q3 2024 (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 421,577,338.13 | 287,829,328.38 | Increase | | Total Operating Costs | 432,832,652.08 | 371,790,049.57 | Increase | | Operating Costs | 275,046,857.72 | 220,912,873.26 | Increase | | R&D Expenses | 111,356,930.85 | 107,673,240.20 | Increase | | Total Profit | 786,835.94 | -54,679,517.56 | Turned Profitable | | Net Profit | 10,319,756.59 | -32,249,296.24 | Turned Profitable | | Net Profit Attributable to Parent Company Shareholders | 10,319,756.59 | -32,249,296.24 | Turned Profitable | | Basic Earnings Per Share (RMB/share) | 0.09 | -0.29 | Increase | | Diluted Earnings Per Share (RMB/share) | 0.09 | -0.29 | Increase | - Fair value change gains decreased from **CNY 19,867,295.39** in Q1-Q3 2024 to **CNY 13,906,773.24** in Q1-Q3 2025[23](index=23&type=chunk) - Asset impairment losses increased from **CNY -4,490,198.31** in Q1-Q3 2024 to **CNY -4,820,138.33** in Q1-Q3 2025[23](index=23&type=chunk) [Consolidated Cash Flow Statement](index=11&type=section&id=Consolidated%20Cash%20Flow%20Statement) In Q1-Q3 2025, net cash flow from operating activities was negative CNY 82.49 million, an increased outflow year-on-year, while net cash outflow from investing activities significantly decreased to CNY 127.74 million, and financing activities had a net outflow of CNY 59.08 million, mainly due to share repurchases, resulting in a reduced period-end cash balance Consolidated Cash Flow Statement Key Data (Q1-Q3 2025 vs. Q1-Q3 2024) | Item | Q1-Q3 2025 (RMB) | Q1-Q3 2024 (RMB) | Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -82,491,902.27 | -50,617,346.88 | Net Outflow Increased | | Net Cash Flow from Investing Activities | -127,742,724.94 | -479,744,046.13 | Net Outflow Decreased | | Net Cash Flow from Financing Activities | -59,081,441.85 | -102,347,513.02 | Net Outflow Decreased | | Net Increase in Cash and Cash Equivalents | -270,811,040.78 | -634,311,513.71 | Net Outflow Decreased | | Cash and Cash Equivalents at Period End | 317,937,462.48 | 366,462,758.73 | Decrease | - Cash received from sales of goods and rendering of services increased from **CNY 312,531,471.15** in Q1-Q3 2024 to **CNY 324,574,616.97** in Q1-Q3 2025[26](index=26&type=chunk) - Cash paid for goods and services increased from **CNY 219,828,064.68** in Q1-Q3 2024 to **CNY 281,151,450.86** in Q1-Q3 2025, which is the primary reason for the increased cash outflow from operating activities[26](index=26&type=chunk)

Core Insights - The company reported a revenue of 156 million yuan for Q3 2025, marking a year-on-year increase of 66.31% [1] - The net profit attributable to shareholders was 5.31 million yuan, up 132.74% from 2.28 million yuan in the same period last year [1] - Basic earnings per share (EPS) for Q3 2025 was 0.05 yuan [1] Financial Performance - For the first three quarters of 2025, the company achieved a total revenue of 422 million yuan, reflecting a year-on-year growth of 46.47% [1] - The net profit attributable to shareholders for the first three quarters was 10.32 million yuan, a significant turnaround from a net loss of 32.25 million yuan in the same period last year [1] - Basic EPS for the first three quarters was 0.09 yuan [1]