Financial Performance - The company's operating revenue for Q3 2025 reached ¥317,579,168.94, representing a significant increase of 1,768.94% year-over-year[3] - Net profit attributable to shareholders was ¥2,096,431.70, up 154.50% compared to the same period last year[3] - The basic earnings per share (EPS) was ¥0.0409, reflecting a remarkable increase of 1,205.41% year-over-year[3] - The company experienced a 1,943.92% increase in total operating revenue for the year-to-date period, amounting to ¥931,038,585.82[7] - Total operating revenue for the period reached ¥931,038,585.82, a significant increase from ¥45,551,575.77 in the previous period, reflecting a growth of approximately 1944%[15] - The company's net profit for the current period is CNY 40,509,525.86, compared to a net loss of CNY 4,010,128.51 in the previous period[16] - Operating income for the current period is CNY 40,779,905.74, while the previous period reported an operating loss of CNY 7,126,954.79[16] - Total comprehensive income for the current period is CNY 37,300,244.52, compared to a total comprehensive loss of CNY 7,274,819.08 in the previous period[16] - The company’s basic and diluted earnings per share for the current period are both CNY 0.0412, compared to CNY 0.0015 in the previous period[16] Cash Flow and Assets - The company reported a net cash flow from operating activities of ¥11,736,833.97, an increase of 141.15% compared to the same period last year[3] - The company's cash and cash equivalents decreased to ¥48,181,048.55 from ¥402,282,535.43, a decline of approximately 88%[12] - The company reported cash and cash equivalents at the end of the period amounting to CNY 31,059,019.46, down from CNY 89,754,685.17 at the end of the previous period[19] - The company received CNY 522,460,602.05 in cash from sales of goods and services, a substantial increase from CNY 54,963,938.18 in the previous period[18] - The company incurred total cash outflows from financing activities of CNY 56,710,809.87, compared to CNY 107,881,892.37 in the previous period[19] - The company’s total cash inflow from investment activities was CNY 259,833,266.64, while cash outflow was CNY 274,891,945.42, resulting in a net cash outflow of CNY -15,058,678.78[18] Assets and Liabilities - Total assets as of September 30, 2025, were ¥1,244,457,734.77, a decrease of 15.39% from the end of the previous year[3] - Non-current assets totaled ¥369,778,581.97, down from ¥408,961,643.02, reflecting a decrease of about 10%[13] - Total liabilities decreased to ¥363,715,807.85 from ¥599,813,408.35, a decline of approximately 39%[14] - The company's total assets decreased to ¥1,244,457,734.77 from ¥1,470,823,932.83, indicating a reduction of about 15%[14] - The net loss attributable to shareholders improved to -¥375,956,585.97 from -¥419,349,894.07, showing a reduction in losses of approximately 10%[14] Shareholder Information - The total number of common shareholders at the end of the reporting period is 40,293[8] - The largest shareholder, Shenzhen Ansheng Zhihua Investment Partnership, holds 19.18% of shares, totaling 198,140,000 shares[8] - Xianfeng Holdings Group holds 11.05% of shares, totaling 114,152,000 shares, with 69,000,000 shares pledged and 114,152,000 shares frozen[8] - The top ten shareholders collectively hold significant stakes, with the first two shareholders alone accounting for over 30% of total shares[8] Research and Development - Research and development expenses rose to ¥22,741,381.65, a 181.29% increase year-over-year, driven by increased investment in the copper-clad laminate business[7] - Research and development expenses increased to ¥22,741,381.65 from ¥8,084,551.18, reflecting a growth of about 182%[15] Business Operations and Changes - The company has completed the handover of related matters with partners regarding the termination of feed production business as of the report date[9] - The company has announced plans to provide guarantees for bank loans to its subsidiaries[10] - The company has initiated a share repurchase plan for equity incentives, with a repurchase ratio reaching 1%[10] - The company has disclosed the progress of its major shareholders' bankruptcy proceedings[10] - The company has made amendments to its articles of association and business scope as part of its restructuring efforts[10] Financial Investments - The company recorded a significant increase in trading financial assets, which rose by 1,388.33% to ¥98,718,955.26 due to increased investment in financial products[7] - The company’s cash flow from investing activities showed a significant net outflow of ¥15,058,678.78, primarily due to increased investment in financial products[7]

Core Viewpoint - The animal health sector experienced a slight increase of 0.21% on October 24, with significant contributions from specific stocks, particularly Biological Shares, which led the gains [1] Market Performance - The Shanghai Composite Index closed at 3950.31, up 0.71% - The Shenzhen Component Index closed at 13289.18, up 2.02% [1] Stock Performance in Animal Health Sector - Biological Shares (600201) closed at 10.77, up 2.87% with a trading volume of 311,900 shares and a turnover of 333 million yuan - Other notable stocks include: - *ST Green Health (002868): closed at 29.09, up 0.66% - Shunlian Biological (688098): closed at 10.75, up 0.66% - Huisheng Biological (300871): closed at 20.75, up 0.48% - Yongshun Biological (920729): closed at 9.68, up 0.31% - Jinhe Biological (002688): closed at 6.68, unchanged [1] Capital Flow Analysis - The animal health sector saw a net inflow of 8.6031 million yuan from institutional investors, while retail investors experienced a net outflow of 24.4195 million yuan [2] - The breakdown of capital flow indicates: - Repu Biological (300119) had a net inflow of 9.2707 million yuan from institutional investors - Biological Shares (600201) saw a net inflow of 8.4244 million yuan - Kexin Biological (688526) had a net inflow of 5.4428 million yuan from institutional investors [3]

Core Viewpoint - The animal health sector experienced a decline of 0.36% on October 22, with Dayu Biological leading the drop. The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1]. Stock Performance Summary - The following stocks in the animal health sector showed varied performance: - Shengwu Co. (600201) closed at 10.78, up 0.56% with a trading volume of 327,000 shares and a turnover of 351 million yuan - Ruipu Biological (300119) closed at 21.50, up 0.51% with a trading volume of 73,200 shares and a turnover of 158 million yuan - Haili Biological (603718) closed at 7.04, up 0.28% with a trading volume of 44,200 shares and a turnover of 31.17 million yuan - Dayu Biological (920970) closed at 9.46, down 1.25% with a trading volume of 20,800 shares and a turnover of 19.89 million yuan - ST Lvkang (002868) closed at 28.49, down 1.18% with a trading volume of 9,904 shares and a turnover of 28.26 million yuan [1][2]. Capital Flow Analysis - The animal health sector saw a net outflow of 47.45 million yuan from institutional investors, while retail investors contributed a net inflow of 36.66 million yuan. Speculative funds recorded a net inflow of 10.80 million yuan [2][3]. - Specific stock capital flows included: - Shunlian Biological (688098) had a net inflow of 6.94 million yuan from institutional investors but a net outflow of 12.58 million yuan from retail investors - Ruipu Biological (300119) experienced a net outflow of 2.94 million yuan from institutional investors, with a significant net inflow of 13.74 million yuan from speculative funds [3].

Core Viewpoint - The animal health sector experienced a slight decline of 0.02% on October 21, with Bioworks leading the drop. Meanwhile, the Shanghai Composite Index rose by 1.36% and the Shenzhen Component Index increased by 2.06% [1]. Group 1: Market Performance - The animal health sector's performance was mixed, with individual stocks showing varying degrees of increase and decrease. Notably, the top gainers included: - Driving Force (4.50% increase) [1] - Dayu Biological (3.46% increase) [1] - Yongshun Biological (2.06% increase) [1] - Conversely, Bioworks saw a decline of 2.10%, leading the losses in the sector [2]. Group 2: Trading Volume and Capital Flow - The trading volume for the animal health sector indicated a net outflow of 151 million yuan from institutional investors, while retail investors saw a net inflow of 116 million yuan [2]. - The capital flow for individual stocks showed significant movements, with: - Key stock, Bioworks, experiencing a net outflow of 6.46 million yuan from institutional investors [3]. - Retail investors contributed a net inflow of 7.59 million yuan to Zhongmu Co. [3]. Group 3: Individual Stock Analysis - The following stocks had notable capital flows: - KQ Biological had a net inflow of 1.83 million yuan from institutional investors [3]. - ST Green Health faced a net outflow of 4.37 million yuan from institutional investors [3]. - The stock of Rui Pu Biological saw a net inflow of 17.22 million yuan from retail investors despite a net outflow from institutional investors [3].

Market Overview - The animal health sector increased by 0.81% on October 20, with Xianfeng Holdings leading the gains [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Stock Performance - Xianfeng Holdings (002141) closed at 4.06, up 5.45% with a trading volume of 588,700 shares and a turnover of 237 million yuan [1] - Other notable stocks included ST Lvkang (002868) at 28.36, up 5.00%, and Biological Shares (600201) at 10.95, up 1.48% [1] - The overall trading volume and turnover for the animal health sector were significant, indicating active market participation [1] Capital Flow - The animal health sector saw a net inflow of 31.5863 million yuan from institutional investors, while retail investors experienced a net outflow of 10.9434 million yuan [2] - The main capital inflow was primarily directed towards Xianfeng Holdings, which had a net inflow of 28.5381 million yuan [3] - Conversely, stocks like Shunlian Biological (688088) and ST Lvkang experienced net outflows from retail investors, indicating a shift in investor sentiment [3]

Core Insights - The animal health sector experienced a decline of 0.28% on October 17, with Ruipu Biotech leading the drop [1][2] - The Shanghai Composite Index closed at 3839.76, down 1.95%, while the Shenzhen Component Index closed at 12688.94, down 3.04% [1] Stock Performance - Shenyuan Biological (688088) saw a significant increase of 10.65%, closing at 11.43 with a trading volume of 319,600 shares and a turnover of 368 million yuan [1] - Other notable gainers included Yongshun Biological (920729) with a rise of 2.94% and Xianfeng Holdings (002141) with an increase of 1.85% [1] - Conversely, Ruipu Biotech (300119) fell by 2.47%, closing at 21.69 with a trading volume of 109,100 shares and a turnover of 239 million yuan [2] Capital Flow - The animal health sector saw a net inflow of 33.17 million yuan from institutional investors, while retail investors experienced a net outflow of 37.18 million yuan [2][3] - Shenyuan Biological had a net inflow of 76.52 million yuan from institutional investors, representing 20.82% of its trading volume [3] - In contrast, other companies like XD Plai Ke (603566) and Huayi Biological (603718) faced significant net outflows from both institutional and retail investors [3]

Core Viewpoint - The animal health sector experienced a decline of 0.85% on October 16, with Xianfeng Holdings leading the drop. The Shanghai Composite Index rose by 0.1%, while the Shenzhen Component Index fell by 0.25 [1]. Group 1: Market Performance - The closing price of *ST Lvkang was 27.48, with an increase of 5.01%, while other stocks in the sector showed mixed results [1]. - The total trading volume for the animal health sector was significant, with *ST Lvkang recording a volume of 14,900 hands and a transaction amount of 40.81 million yuan [1]. - The overall market saw a net outflow of 126 million yuan from the animal health sector, with retail investors contributing a net inflow of 91.62 million yuan [2]. Group 2: Individual Stock Analysis - *ST Lvkang had a net inflow of 5.23 million yuan from major funds, while Xianfeng Holdings saw a net outflow of 3.36 million yuan [3]. - The stock of RuiPu Bio had a significant net outflow of 25.44 million yuan from major funds, despite a retail net inflow of 39.62 million yuan [3]. - The stock of HaiLi Bio experienced a net outflow of 4.47 million yuan from major funds, with a retail net inflow of 2.64 million yuan [3].

Core Insights - The animal health sector experienced a 1.5% increase on October 15, with Bio-Pharmaceuticals leading the gains [1] - The Shanghai Composite Index closed at 3912.21, up 1.22%, while the Shenzhen Component Index closed at 13118.75, up 1.73% [1] Stock Performance - Bio-Pharmaceuticals (600201) closed at 11.03, up 4.06% with a trading volume of 563,500 shares and a turnover of 614 million yuan [1] - Other notable stocks include: - Shunlian Bio (688098) at 10.48, up 2.95% [1] - Ruipu Bio (300119) at 22.56, up 2.31% [1] - Yongshun Bio (920729) at 676, up 1.93% [1] - Dayu Bio (920970) at 9.45, up 1.61% [1] Capital Flow - The animal health sector saw a net outflow of 5.71 million yuan from institutional investors, while retail investors contributed a net inflow of 1.83 million yuan [2] - The capital flow for key stocks includes: - Ruipu Bio had a net inflow of 25.55 million yuan from institutional investors [3] - Hai Li Bio experienced a net outflow of 3.22 million yuan from institutional investors [3] - KQ Bio (688526) had a net inflow of 5.26 million yuan from retail investors [3]

Core Viewpoint - The animal health sector experienced a decline of 0.68% on October 14, with Xianfeng Holdings leading the drop. The Shanghai Composite Index closed at 3865.23, down 0.62%, while the Shenzhen Component Index closed at 12895.11, down 2.54% [1]. Stock Performance Summary - Zhongmu Co., Ltd. (600195) closed at 7.35, up 1.66% with a trading volume of 120,000 shares and a transaction value of 87.91 million yuan [1]. - Yongshun Biological (920729) closed at 9.31, up 0.54% with a trading volume of 13,800 shares and a transaction value of 12.82 million yuan [1]. - Biological Co. (600201) closed at 10.60, up 0.28% with a trading volume of 624,200 shares and a transaction value of 672 million yuan [1]. - Other notable stocks include Ruip Bio (300119) down 0.45% and Jinhai Bio (002688) down 0.98% [1][2]. Capital Flow Analysis - The animal health sector saw a net outflow of 8.12 million yuan from institutional investors, while retail investors had a net inflow of 4.61 million yuan [2][3]. - Major stocks like Biological Co. (600201) experienced a net inflow of 62.91 million yuan from institutional investors, while Xianfeng Holdings (002141) saw a net outflow of 9.04 million yuan [3].

Core Insights - The animal vaccine sector has seen a rise of 1.93%, ranking fourth among concept sectors in terms of growth, with 17 stocks increasing in value, led by TianKang Biological, BioShares, and Hengtong Holdings, which rose by 7.52%, 4.42%, and 4.24% respectively [1][2] - The sector experienced a net inflow of 178 million yuan from main funds, with 14 stocks receiving net inflows, and 6 stocks exceeding 10 million yuan in net inflows, with BioShares leading at 64.02 million yuan [2][3] - The top three stocks by net inflow ratio were HaiZheng Pharmaceutical, KeQian Biological, and TianKang Biological, with net inflow ratios of 13.58%, 10.61%, and 8.79% respectively [3][4] Sector Performance - The animal vaccine sector's performance is highlighted by the significant gains of key stocks, with TianKang Biological showing the highest increase at 7.52% and BioShares following closely at 4.42% [1][2] - The overall market sentiment for the animal vaccine sector appears positive, as indicated by the net inflow of funds and the number of stocks experiencing gains [2][3] Fund Flow Analysis - The main funds have shown a strong interest in the animal vaccine sector, with a total net inflow of 178 million yuan, indicating robust investor confidence [2][3] - The stocks with the highest net inflow include BioShares, TianKang Biological, and HaiZheng Pharmaceutical, suggesting these companies are currently favored by investors [3][4]