Financial Performance - The company's operating revenue for the third quarter was ¥457,628,364.12, a decrease of 2.57% compared to the same period last year[3] - Net profit attributable to shareholders increased significantly by 533.86% to ¥8,557,819.04 for the quarter[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥2,354,254.97, up 63.23% year-on-year[3] - Total operating revenue decreased to ¥1,360,398,182.64 from ¥1,501,392,158.94, representing a decline of approximately 9.4% year-over-year[18] - Net profit increased to ¥40,715,203.44 compared to ¥39,622,828.72, reflecting a growth of approximately 2.8% year-over-year[18] - The company's investment income improved to ¥1,992,707.08 from a loss of ¥460,456.68, marking a positive turnaround[18] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,928,841,756.34, a decrease of 5.96% from the previous year[3] - Total assets decreased to ¥1,928,841,756.34 from ¥2,051,047,821.36, a decline of about 6.0%[16] - Total liabilities decreased to ¥1,773,861,055.90 from ¥1,935,817,324.36, a reduction of approximately 8.4%[16] - The company's fixed assets rose to CNY 766,676,307.87 from CNY 668,395,685.45, marking an increase of approximately 14.7%[14] - The company has a goodwill amounting to CNY 10,085,353.67, unchanged from the previous period[14] Equity and Shareholder Information - The owner's equity attributable to shareholders increased by 29.82% to ¥174,636,111.86 compared to the end of the previous year[3] - Total equity increased to ¥154,980,700.44 from ¥115,230,497.00, reflecting a growth of about 34.5%[16] - The number of ordinary shareholders at the end of the reporting period was 58,320[9] Cash Flow and Operating Activities - Cash flow from operating activities showed a net increase of 87.50%, amounting to -¥28,655,423.31 year-to-date[3] - Cash flow from operating activities totaled ¥1,360,151,975.06, down from ¥1,762,781,352.49, a decrease of approximately 22.8% year-over-year[20] - Net cash flow from operating activities was -$28.66 million, a significant improvement from -$229.24 million in the previous period, indicating a positive trend in operational efficiency[21] - Cash paid to employees was approximately $240.80 million, slightly down from $245.26 million, reflecting cost control measures[21] - Cash paid for taxes increased to $43.54 million from $41.73 million, indicating a rise in tax obligations[21] Current Assets and Inventory - The company reported a total current assets of CNY 1,055,512,613.01 as of September 30, 2025, down from CNY 1,128,216,751.49 at the beginning of the period, representing a decrease of approximately 6.4%[14] - Cash and cash equivalents decreased to CNY 460,072,797.69 from CNY 521,489,938.85, reflecting a decline of about 11.8%[14] - Accounts receivable increased to CNY 320,242,539.93 from CNY 291,583,598.00, indicating a growth of approximately 9.8%[14] - Inventory decreased to CNY 133,597,757.54 from CNY 149,474,811.92, showing a reduction of about 10.6%[14] Investment and Financing Activities - The company reported a significant increase in investment income by 532.77% year-on-year due to gains from the disposal of subsidiaries[8] - Cash inflow from financing activities totaled $1.11 billion, down from $1.40 billion, primarily due to a decrease in borrowings[21] - The net cash flow from financing activities was $15.20 million, a decrease from $109.57 million, suggesting tighter cash management strategies[21] - Total cash outflow from investing activities was $29.54 million, compared to $76.76 million in the prior period, reflecting a reduction in capital expenditures[21] Audit and Reporting - The company has not yet audited its third-quarter financial report, which may affect the reliability of the reported figures[24]

Financial Performance - The company's operating revenue for the third quarter was CNY 1,048,282,018.92, representing a year-on-year increase of 1.64%[4] - The net profit attributable to shareholders was CNY 84,627,677.84, reflecting an increase of 8.30% compared to the same period last year[4] - Total operating revenue for the first three quarters of 2025 was CNY 2,543,243,148.92, a decrease of 5.5% compared to CNY 2,691,919,330.14 in the same period of 2024[18] - The net profit for the first three quarters of 2025 was CNY 187,195,481.45, a decrease of 18.0% compared to CNY 228,305,663.96 in the same period of 2024[19] - The total profit for the first three quarters of 2025 was CNY 221,504,158.90, down from CNY 269,656,337.85 in 2024, reflecting a decline of 17.9%[19] - The operating profit for the first three quarters of 2025 was CNY 221,370,779.11, compared to CNY 271,204,352.98 in 2024, indicating a decrease of 18.4%[19] Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 12,418,655,458.01, showing a decrease of 4.38% from the end of the previous year[5] - The total assets of the company amounted to CNY 12,418,655,458.01 as of September 30, 2025, compared to CNY 12,987,402,901.13 at the end of 2024, a reduction of 4.4%[16] - The total liabilities decreased to CNY 7,031,505,453.98 as of September 30, 2025, from CNY 7,717,571,823.96 at the end of 2024, reflecting a decline of 8.9%[15] Cash Flow - The company's net cash flow from operating activities was negative CNY 428,913,533.72, indicating a significant cash outflow[5] - The cash flow from operating activities for the first three quarters of 2025 was negative at CNY -428,913,533.72, an improvement from CNY -612,019,116.65 in 2024[23] - The cash flow from investing activities generated a net inflow of CNY 160,333,460.59 in the first three quarters of 2025, compared to a net outflow of CNY -139,178,348.13 in 2024[23] - The cash flow from financing activities resulted in a net outflow of CNY -21,394,345.46 in the first three quarters of 2025, an improvement from CNY -44,332,379.10 in 2024[24] - The total cash and cash equivalents at the end of the third quarter of 2025 stood at CNY 1,476,229,286.60, an increase from CNY 1,284,771,507.51 in 2024[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 30,498[11] - The top shareholder, Zhang Yuejun, held 28,487,100 shares, representing 4.17% of the total shares[11] Earnings Per Share - The basic earnings per share for the quarter was CNY 0.12, a decrease of 22.86% compared to CNY 0.27 for the same period last year[5] - The basic earnings per share for the first three quarters of 2025 was CNY 0.27, down from CNY 0.35 in the same period of 2024[20] - The diluted earnings per share for the first three quarters of 2025 was CNY 0.27, compared to CNY 0.34 in 2024, reflecting a decrease of 20.6%[20] Other Financial Metrics - The weighted average return on equity decreased by 1.16 percentage points to 1.57% compared to the previous year[5] - The company's cash and cash equivalents decreased to CNY 1,484,717,077.38 as of September 30, 2025, from CNY 1,876,110,095.63 at the end of 2024, representing a decline of 20.9%[14] - Accounts receivable as of September 30, 2025, was CNY 3,720,041,707.68, slightly down from CNY 3,848,123,344.32 at the end of 2024, indicating a decrease of 3.3%[14] - The company reported a significant increase in inventory to CNY 270,482,799.54 as of September 30, 2025, compared to CNY 257,964,709.20 at the end of 2024, an increase of 4.8%[14] - The company’s long-term equity investments were CNY 424,091,854.47 as of September 30, 2025, slightly down from CNY 429,359,613.00 at the end of 2024, a decrease of 1.2%[14] - The company’s retained earnings increased to CNY 3,722,489,514.72 as of September 30, 2025, compared to CNY 3,606,822,039.51 at the end of 2024, an increase of 3.2%[16] - The company reported a decrease in interest income to CNY 18,549,777.78 from CNY 19,900,033.93 in the previous year, a decline of 6.8%[19] - The company experienced a 38.90% increase in short-term borrowings, attributed to an increase in bank loans[9] - The company reported a 55.28% increase in construction in progress, primarily due to the construction of the innovation center[9]

Financial Performance - The company's operating revenue for the third quarter was ¥638,807,413.04, a decrease of 0.86% compared to the same period last year[4] - The total profit for the quarter was ¥99,506,896.00, representing an increase of 10.68% year-on-year[4] - The net profit attributable to shareholders, excluding non-recurring gains and losses, was ¥47,001,269.96, reflecting a significant increase of 31.11% compared to the previous year[4] - Total operating revenue for the first three quarters of 2025 was CNY 1,870,149,385.73, a decrease of 3.4% compared to CNY 1,936,977,733.02 in the same period of 2024[18] - Total operating costs for the first three quarters of 2025 were CNY 1,688,885,398.78, down 3.2% from CNY 1,744,057,756.29 in 2024[18] - Net profit for the first three quarters of 2025 was CNY 176,928,385.07, a decline of 16.2% from CNY 211,266,171.69 in 2024[19] - Profit attributable to shareholders of the parent company for the first three quarters of 2025 was CNY 106,191,953.80, down 26.0% from CNY 143,301,317.78 in 2024[19] - Operating profit for the first three quarters of 2025 was CNY 244,157,006.51, a decrease of 9.7% from CNY 270,408,362.22 in 2024[19] - Total comprehensive income for the first three quarters of 2025 was CNY 177,391,862.43, down from CNY 209,921,043.63 in 2024, reflecting a decline of 15.5%[21] - The company’s total profit for the first three quarters of 2025 was CNY 21,108,843.95, down 55.6% from CNY 47,367,704.33 in the same period of 2024[29] Cash Flow - The cash flow from operating activities for the year-to-date period was ¥503,947,414.83, showing a decline of 30.07%[5] - In the first three quarters of 2025, the net cash flow from operating activities was ¥503,947,414.83, a decrease of 30.1% compared to ¥720,605,943.55 in the same period of 2024[23] - The net cash flow from financing activities improved to ¥342,156,906.07 in 2025, compared to a negative cash flow of ¥19,441,673.70 in 2024[24] - The cash inflow from sales of goods and services was ¥1,689,109,845.34 in the first three quarters of 2025, a marginal increase from ¥1,665,463,905.58 in 2024[23] - The cash outflow for purchasing goods and services was ¥785,886,170.13, down from ¥833,085,493.24 in the same period last year, indicating a decrease of 5.7%[23] - The company reported a net cash flow from investing activities of CNY 39,277,853.43, a recovery from a negative cash flow of CNY -637,750,736.54 in the same period last year[31] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥14,369,073,133.66, an increase of 6.97% compared to the end of the previous year[5] - Total assets as of September 30, 2025, reached CNY 14.37 billion, an increase from CNY 13.43 billion as of December 31, 2024, reflecting a growth of approximately 6.98%[13] - Current assets amounted to CNY 5.26 billion, up from CNY 4.58 billion, indicating a growth of about 15.16% year-over-year[13] - Total liabilities stood at CNY 7.95 billion, compared to CNY 7.03 billion, marking an increase of approximately 13.14%[14] - Total liabilities increased to CNY 8,643,141,722.98 in 2025 from CNY 7,790,891,864.39 in 2024, reflecting a growth of 11.0%[18] - The total assets as of September 30, 2025, reached ¥8,210,684,856.61, an increase of 6.7% from ¥7,690,704,069.85 at the end of 2024[26] - The total liabilities increased to ¥4,635,471,504.31 as of September 30, 2025, compared to ¥4,061,492,698.05 at the end of 2024, representing a 14.1% rise[26] Shareholder Information - The number of shareholders holding more than 5% of shares includes Lianyungang Port Group Co., Ltd. with 40.76% and Shanghai International Port (Group) Co., Ltd. with 18.00%[11] - The company has no significant changes in the top 10 shareholders or their participation in margin financing and securities lending activities[12] Earnings Per Share - The basic earnings per share for the quarter was ¥0.041, down 25.86% from the previous year[5] - Basic and diluted earnings per share for the first three quarters of 2025 were CNY 0.086, down from CNY 0.116 in 2024[21]

Revenue and Profit - Revenue for Q3 2025 was CNY 257,479,313.42, a decrease of 26.00% compared to the same period last year[5] - Total profit for Q3 2025 was CNY 164,550.02, down 99.05% year-on-year[5] - Net profit attributable to shareholders was CNY 18,574,850.85, a decline of 39.60% compared to the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -37,025,708.58, a decrease of 821.65% year-on-year[5] - Basic earnings per share for Q3 2025 were CNY 0.0084, down 38.69% from the same period last year[5] - Net profit for the first three quarters of 2025 reached CNY 547,473,062.70, an increase of 4.3% from CNY 524,655,431.84 in the previous year[21] - The total comprehensive income for the first three quarters of 2025 was CNY 547,472,967.53, compared to CNY 524,655,367.23 in 2024, showing an increase of 4.3%[22] - The company's net profit for the first three quarters of 2025 was 423,573,610.51 RMB, down from 550,003,190.23 RMB in the same period of 2024, representing a decline of about 23.0%[30] - The total comprehensive income for the period was CNY 423,573,610.51, compared to CNY 550,003,190.23 in the previous period[31] Assets and Liabilities - Total assets at the end of the reporting period were CNY 16,033,458,868.07, a decrease of 6.88% from the end of the previous year[6] - The company's total current assets as of September 30, 2025, amount to ¥9,035,102,666.34, a decrease from ¥9,725,098,221.35 as of December 31, 2024[16] - The total liabilities decreased from ¥4,157,579,968.25 to ¥3,362,790,437.58 over the same period[17] - The total assets as of September 30, 2025, are ¥16,033,458,868.07, compared to ¥17,218,878,051.29 at the end of 2024[17] - The total liabilities decreased to CNY 4,368,150,920.39 in 2025 from CNY 5,594,672,366.15 in 2024, indicating a reduction of 21.9%[18] - The total equity attributable to shareholders increased to CNY 10,840,939,151.16 in 2025, compared to CNY 10,787,100,614.46 in 2024, reflecting a growth of 0.5%[18] - The total liabilities decreased from 3,589,872,361.37 RMB to 3,415,086,548.77 RMB, a reduction of about 4.9%[28] Cash Flow - Cash inflow from operating activities totaled CNY 1,412,489,620.77 in the first three quarters of 2025, slightly down from CNY 1,428,750,154.15 in 2024[24] - The net cash flow from operating activities was -333,953,810.99 RMB, compared to -295,066,148.29 RMB in the previous period, indicating a decline in operational cash generation[25] - Cash flow from operating activities for the first three quarters of 2025 was CNY 111,840,778.19, a significant improvement compared to a negative cash flow of CNY -83,160,187.52 in the same period of 2024[33] - Cash inflow from investment activities in the first three quarters of 2025 totaled CNY 2,134,644,372.55, while cash outflow was CNY 1,836,298,285.28, resulting in a net cash flow of CNY 298,346,087.27[34] - Cash flow from financing activities showed a net outflow of CNY -168,510,534.59 in the first three quarters of 2025, compared to a larger outflow of CNY -535,450,271.20 in the same period of 2024[34] Expenses - Research and development expenses increased by 138.44% due to the addition of new R&D personnel[10] - Research and development expenses increased significantly to CNY 22,839,637.96 in 2025, compared to CNY 9,578,741.68 in 2024, marking a rise of 138.5%[21] - The company reported a significant increase in investment income to CNY 30,070,644.31 in 2025, up from CNY 14,263,247.41 in 2024, representing a growth of 110.5%[21] - The company reported a significant increase in inventory by 64.31% due to increased coal stockpiling for heating services[9] - The company’s interest income was 52,560,337.77 RMB, down from 64,474,981.46 RMB, indicating a decrease of approximately 18.5%[30] - The company reported a decrease in tax payments from CNY 5,405,847.70 in 2024 to CNY 3,367,131.69 in 2025[33] - The company has not adopted new accounting standards or interpretations for the year 2025[35] Shareholder Information - The total number of common shareholders at the end of the reporting period is 50,226[13] - The largest shareholder, Lianzhong New Energy Co., Ltd., holds 1,198,817,284 shares, accounting for 52.98% of the total shares[13] - The company has pledged 521,166,771 shares of Lianzhong New Energy Co., Ltd. as collateral[13] - The company has no significant changes in the participation of major shareholders in margin trading and securities lending[15] Management and Reporting - The board of directors announced the financial results on October 29, 2025[36]

Financial Performance - The company's operating revenue for the third quarter was CNY 583,878,007.03, representing a year-on-year increase of 17.44%[4] - The total profit for the third quarter decreased by 90.29% to CNY 3,884,001.94 compared to the same period last year[9] - The net profit attributable to shareholders for the third quarter was CNY 14,275,115.62, down 42.43% year-on-year[10] - The basic earnings per share for the third quarter was CNY 0.09, a decrease of 40.44% compared to the previous year[5] - Operating profit decreased to ¥81,087,159.82 from ¥141,923,714.84, reflecting a decline of about 42.7%[20] - Net profit for the period was ¥67,631,336.08, down from ¥129,587,914.93, indicating a decrease of approximately 47.8%[21] - The company's net profit for the first three quarters of 2025 was ¥89,213,282.72, significantly up from ¥33,618,543.13 in the first three quarters of 2024, representing a growth of 165.5%[31] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,117,120,426.18, a decrease of 7.08% from the end of the previous year[5] - The company's current assets totaled CNY 2,358,048,368.36, down from CNY 2,577,367,621.35, indicating a decrease of about 8.52%[15] - The company's total assets amounted to CNY 3,117,120,426.18, a decrease from CNY 3,354,789,821.83 as of December 31, 2024, reflecting a decline of approximately 7.06%[15] - Total liabilities decreased to CNY 1,882,234,583.17 from CNY 1,972,915,221.72, a reduction of about 4.56%[17] - The company's total liabilities increased to ¥1,182,838,851.00 as of September 30, 2025, compared to ¥1,118,866,136.85 at the end of 2024, marking a rise of 5.7%[29] Cash Flow - The cash flow from operating activities for the third quarter was CNY 116,610,354.53, which is not applicable for year-on-year comparison[5] - Cash flow from operating activities generated a net amount of ¥41,668,654.22, a significant improvement from a net outflow of -¥33,780,875.65 in the same period last year[24] - The net cash flow from operating activities was $33.52 million, a significant improvement from a net outflow of $52.99 million in the same period of 2024[34] - The net cash flow from financing activities was negative at -$141.10 million in 2025, a decline from a positive cash flow of $73.93 million in 2024, reflecting increased debt repayments[35] Shareholder Information - The company reported a total of 10,357 common shareholders at the end of the reporting period[12] - The top three shareholders held a combined 54.73% of the company's shares, with the largest shareholder holding 22.43%[12] Inventory and Expenses - The company's inventory increased to CNY 412,672,104.58 from CNY 351,128,546.85, reflecting an increase of approximately 17.53%[15] - The company reported a decrease in research and development expenses to ¥63,258,464.18 from ¥77,837,707.99, a reduction of approximately 18.8%[20] - Research and development expenses for the first three quarters of 2025 were ¥26,463,985.40, a decrease of 18.1% from ¥32,295,791.36 in the same period of 2024[31] Cash and Equivalents - The company's cash and cash equivalents were CNY 473,257,146.91, compared to CNY 539,454,515.22 at the end of 2024, representing a decline of approximately 12.29%[15] - The total cash and cash equivalents at the end of the period stood at ¥412,967,168.06, down from ¥175,614,084.88 a year earlier[25] - The company's cash and cash equivalents stood at ¥337,602,693.36 as of September 30, 2025, compared to ¥248,283,816.28 at the end of 2024, showing an increase of 35.9%[27] Investment Performance - Cash inflow from investment income rose to $97.81 million in 2025, compared to $5.24 million in 2024, marking a substantial increase in investment performance[35] - Total cash inflow from investment activities reached $540.69 million in 2025, compared to only $5.24 million in 2024, indicating a substantial increase in investment returns[35] Future Outlook - The company has not indicated any new product launches or technological advancements in the current reporting period, which may be a focus for future updates[18] - The company's net profit for the first three quarters of 2025 is not provided, but it is essential to monitor the year-over-year performance for insights into profitability trends[18]

Financial Performance - Revenue for Q3 2025 was CNY 279,764,555.90, a decrease of 59.91% compared to the same period last year[6] - Total profit for Q3 2025 was CNY 8,831,670.61, down 71.98% year-on-year[6] - Net profit attributable to shareholders for Q3 2025 was CNY 11,023,810.84, a decline of 64.75% compared to the previous year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2025 was CNY 8,513,704.74, down 68.48% year-on-year[6] - Basic earnings per share for Q3 2025 were CNY 0.0397, a decrease of 64.74% compared to the same period last year[7] - Total revenue for the first three quarters of 2025 was RMB 1,322,705,069.34, a decrease of 24.8% compared to RMB 1,758,401,959.76 in the same period of 2024[19] - Net profit for the first three quarters of 2025 was RMB 23,409,706.96, a decline of 75.8% compared to RMB 94,518,608.83 in 2024[20] - Basic earnings per share for the first three quarters of 2025 were RMB 0.08, down from RMB 0.34 in the same period of 2024[20] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,450,363,766.03, a decrease of 18.06% from the end of the previous year[7] - Total assets as of September 30, 2025, were RMB 4,450,363,766.03, a decrease from RMB 5,431,539,736.87 at the end of 2024[17] - Total liabilities as of September 30, 2025, were RMB 1,273,321,266.65, down from RMB 2,208,444,419.20 at the end of 2024[17] - Cash and cash equivalents as of September 30, 2025, were RMB 797,540,327.82, compared to RMB 833,319,557.86 at the end of 2024[16] - Inventory as of September 30, 2025, increased to RMB 266,155,987.50 from RMB 232,029,415.95 at the end of 2024[16] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 53,940,904.41, with an increase attributed to tax refunds received[10] - Cash inflow from operating activities totaled approximately $1.72 billion, an increase from $1.20 billion in the previous period, reflecting a growth of about 43.7%[24] - Net cash flow from operating activities improved to approximately $53.94 million, compared to a negative cash flow of $33.83 million in the prior period[24] - Cash inflow from investment activities reached approximately $1.46 billion, significantly up from $7.03 million, indicating a substantial increase in investment recovery[24] - Net cash flow from investment activities was approximately $571.72 million, a recovery from a negative cash flow of $454.96 million in the previous period[24] - Cash inflow from financing activities was approximately $212.84 million, down from $698 million, showing a decrease of about 69.5%[24] - Net cash flow from financing activities decreased to approximately -$656.87 million, compared to -$185.08 million in the prior period[24] - The ending cash and cash equivalents balance was approximately $797.54 million, down from $1.31 billion, reflecting a decrease of about 39%[24] Research and Development - The company reported a significant increase in research and development expenses, totaling RMB 64,197,495.81 for the first three quarters of 2025, compared to RMB 91,537,533.82 in 2024[19] Non-recurring Items - Non-recurring gains and losses totaled CNY 2,510,106.10 for the current period[9] Shareholder Information - The company has not identified any related party transactions among the top ten shareholders[13]

Financial Performance - The company's operating revenue for Q3 2025 was ¥11,006,551,823.04, a decrease of 3.25% compared to the same period last year[4]. - Net profit attributable to shareholders for Q3 2025 was ¥390,761,276.69, down 1.43% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥356,124,227.83, an increase of 4.60% compared to the same period last year[4]. - Total operating revenue for the period reached CNY 29,644,614,182.66, an increase of 2.03% compared to CNY 29,053,437,248.78 in the previous period[21]. - Net profit for the period was CNY 1,600,039,862.91, representing a growth of 8.63% from CNY 1,473,102,836.11 in the prior year[22]. - The net profit attributable to the parent company was CNY 916,648,562.29, compared to CNY 859,610,284.96 in the prior period, reflecting a growth of approximately 6.5%[23]. - Basic earnings per share increased to CNY 0.57 from CNY 0.55, while diluted earnings per share rose to CNY 0.49 from CNY 0.47[23]. Assets and Liabilities - Total assets as of September 30, 2025, were ¥44,990,360,476.12, a decrease of 0.77% from the end of the previous year[4]. - The company's total assets decreased to CNY 44,990,360,476.12 from CNY 45,341,097,870.26, a decline of 0.78%[20]. - Current liabilities increased to CNY 17,304,984,072.40, compared to CNY 16,166,187,521.46, marking a rise of 7.05%[20]. - Long-term borrowings significantly decreased to CNY 268,630,155.20 from CNY 2,516,289,839.80, a reduction of 89.35%[20]. - The total liabilities decreased to CNY 22,314,225,669.50 from CNY 23,309,953,541.20, reflecting a decline of 4.27%[20]. Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥1,052,879,454.90, an increase of 28.75%[4]. - Cash flow from operating activities generated a net cash inflow of CNY 1,052,879,454.90, up from CNY 817,741,456.81 in the previous period[26]. - Cash received from the sale of goods and services was CNY 29,207,779,387.99, an increase from CNY 27,162,050,505.34[25]. - The company reported a net cash outflow from investing activities of CNY -2,681,133,983.07, an improvement from CNY -5,656,531,387.08 in the prior period[26]. - Cash and cash equivalents at the end of the period totaled CNY 9,754,816,261.82, down from CNY 11,436,462,765.50 at the end of the previous period[27]. - The company’s cash flow from financing activities resulted in a net outflow of CNY -1,573,388,291.55, worsening from CNY -585,752,685.14 in the prior period[26]. Investment and Shareholder Information - Investment income for the first nine months of 2025 was ¥191,766,025.40, a significant increase of 330.09% compared to the same period in 2024[9]. - The company reported an investment income of CNY 191,766,025.40, compared to CNY 44,587,001.41 in the previous period, showing a substantial increase[22]. - The company reported a 289.06% increase in investment properties, totaling ¥1,560,937,086.09, due to the completion of large infrastructure projects[9]. - Short-term borrowings increased by 381.97% to ¥3,779,458,752.10, primarily to optimize interest rate structure and ensure capital reserves[9]. - The number of ordinary shareholders at the end of the reporting period was 57,643[10]. - The largest shareholder, Jiangsu Guotai International Trade Co., Ltd., holds a 31.99% stake in the company[11]. - The top shareholder, Jiangsu Guotai International Trade Co., Ltd., holds 520,634,425 shares, representing a significant portion of the company's equity[12]. - The company has not reported any changes in the participation of major shareholders in margin financing and securities lending activities[12]. - The company has confirmed that there are no known relationships among the top ten unrestricted shareholders[12]. Equity and Capital Management - As of September 30, 2025, the company's cash and cash equivalents amounted to RMB 12,414,978,905.07, a decrease from RMB 14,729,827,889.92 at the beginning of the period[18]. - The company's trading financial assets increased to RMB 10,584,266,627.66 from RMB 8,468,422,325.48, reflecting a growth of approximately 25.0%[18]. - Accounts receivable rose to RMB 7,400,174,056.32 from RMB 6,648,951,331.99, indicating an increase of about 11.3%[18]. - The company plans to utilize up to RMB 2.8 billion of temporarily idle funds from the issuance of convertible bonds for cash management within a 12-month period[16]. - As of September 30, 2025, the remaining balance of convertible bonds was RMB 3,986,935,500.00, with a total of 39,869,355 bonds outstanding[14]. - The net proceeds from the issuance of convertible bonds were RMB 454,228.80 million after deducting issuance costs[14]. - The company received approval for the transfer of 100% equity of its controlling shareholder to a state-owned asset management center, which will manage the shareholder rights[15].

Financial Performance - Revenue for Q3 2025 was CNY 264,091,002.91, a decrease of 40.57% compared to the same period last year[4] - Net profit attributable to shareholders was CNY 20,705,867.83, down 53.19% year-on-year[4] - Basic earnings per share decreased by 53.26% to CNY 0.0258[4] - Total operating revenue for the current period is ¥1,169,619,911.67, a decrease of 11.6% from ¥1,323,392,013.30 in the previous period[18] - Net profit for the current period is ¥71,647,741.41, a decline of 48.9% compared to ¥140,435,248.79 in the previous period[20] - Basic and diluted earnings per share for the current period are both ¥0.0889, down from ¥0.1753 in the previous period[20] Assets and Liabilities - Total assets at the end of Q3 2025 were CNY 4,120,673,587.82, a decline of 3.91% from the end of the previous year[4] - The company's total current assets amount to 1,821,006,235.97 CNY, a decrease from 1,886,351,005.53 CNY at the beginning of the period[15] - The total non-current assets are reported at 2,299,667,351.85 CNY, down from 2,402,011,971.42 CNY[16] - Total liabilities amount to ¥3,403,377,227.68, a decrease from ¥3,642,714,358.22 in the previous period[17] - Short-term borrowings decreased to 945,146,290.16 CNY from 1,020,249,536.74 CNY[16] - Long-term borrowings decreased to ¥266,540,000.00 from ¥430,420,000.00 in the previous period[17] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 172,745,211.69, down 2.20%[4] - Cash received from operating activities decreased by 39.61% to CNY 294,277,244.25, mainly due to reduced inter-company transactions[11] - Cash flow from operating activities for the current period is ¥172,745,211.69, slightly down from ¥176,633,283.47 in the previous period[20] - The company experienced a net decrease in cash and cash equivalents of $61,799,305.53, resulting in an ending balance of $14,370,984.45[21] - Cash paid for debt repayment was $1,277,223,489.40, and cash paid for dividends and interest was $67,115,293.67[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 56,405[12] - The largest shareholder, Guo Xiansheng, holds 29.54% of shares, totaling 236,852,214 shares, with 189,120,000 shares pledged[12] Research and Development - Research and development expenses decreased by 32.28% to CNY 30,751,481.86 compared to the previous year[10] - Research and development expenses for the current period are ¥30,751,481.86, down from ¥45,412,816.44 in the previous period[19] Credit and Impairment - The company recorded a 238.89% increase in credit impairment losses, amounting to CNY 18,717,957.66, primarily due to the recovery of equity transfer payments[10] - The company reported a credit impairment loss of ¥18,717,957.66, compared to a loss of ¥-13,476,380.59 in the previous period[19] Other Financial Information - The financial report for the third quarter was not audited[22] - The company plans to implement new accounting standards starting in 2025[22]

Financial Performance - The company's revenue for Q3 2025 was CNY 29,936,192.46, a decrease of 14.07% compared to the same period last year[3] - The total profit for the period was CNY -715,803.11, reflecting a decline of 112.29% year-over-year[3] - The net profit attributable to shareholders was CNY -522,004.42, down 109.66% compared to the previous year[3] - The basic earnings per share for the current period was CNY -0.0005, a decrease of 109.66% year-over-year[4] - The diluted earnings per share also stood at CNY -0.0005, reflecting a similar decline[4] - Net profit for the first three quarters of 2025 was CNY 142,531.40, down 68.4% from CNY 451,643.96 in 2024[22] - Operating profit turned negative at CNY -2,133,592.32 compared to a profit of CNY 75,779.54 in the previous year[21] - The company reported a total comprehensive income of CNY 142,531.40, significantly lower than CNY 451,643.96 in the previous year[22] Cash Flow and Liquidity - The net cash flow from operating activities was CNY -462,592.53 for the year-to-date period[3] - Cash flow from operating activities showed a net outflow of CNY -462,592.53, an improvement from CNY -46,256,399.63 in the same period last year[25] - Net cash flow from financing activities was -$11,709,939.84, indicating a cash outflow[26] - Total cash and cash equivalents at the end of the period decreased to $76,011,267.21 from $92,326,475.36 at the beginning of the period[26] - Cash and cash equivalents net increase was -$16,315,208.15, reflecting a significant decline compared to the previous period[26] - Total cash outflow from financing activities amounted to $41,709,939.84[26] - Cash inflow from financing activities totaled $30,000,000.00[26] - Dividend payments and interest expenses totaled $1,336,589.84[26] - The company experienced a negative impact of $48,998,586.70 in cash equivalents compared to the previous period[26] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,417,387,324.88, a decrease of 1.17% from the end of the previous year[4] - The equity attributable to shareholders was CNY 1,293,751,830.21, showing a slight decrease of 0.01% compared to the previous year[4] - Total current liabilities decreased to ¥143,577,008.08 from ¥166,248,821.68 year-over-year[17] - Total liabilities decreased to CNY 175,974,407.81 from CNY 192,570,866.07, a reduction of 8.6%[18] - Total non-recurring gains and losses for the period amounted to CNY 3,844,133.51[7] Shareholder Information - The total number of common shareholders at the end of the reporting period is 24,831[11] - The largest shareholder, CITIC Guoan Industrial Group Co., Ltd., holds 504,926,298 shares, accounting for 44.93% of the total share capital[13] - CITIC Guoan has pledged 332,902,700 shares, which is 65.93% of its holdings and 29.62% of the total share capital[13] Operational Metrics - Total operating revenue for the first three quarters of 2025 was CNY 99,571,307.75, a decrease of 1.18% compared to CNY 101,764,796.75 in the same period of 2024[20] - Total operating costs decreased to CNY 104,392,778.26 from CNY 108,517,825.66, reflecting a reduction of 3.92%[20] - Research and development expenses increased to CNY 637,797.50, up 69.2% from CNY 376,628.21 in 2024[21] Accounting Standards - The company is not applying new accounting standards starting from 2025[27]

Financial Performance - The company's revenue for Q3 2025 was ¥703,758,850.93, representing a decrease of 8.14% compared to the same period last year[4] - Net profit attributable to shareholders was ¥99,839,278.63, down 15.57% year-on-year[4] - The basic earnings per share (EPS) was ¥0.1123, reflecting a decline of 15.94% compared to the previous year[4] - Total operating revenue for the third quarter was ¥2,056,433,107.18, a decrease of 4.15% from ¥2,145,728,876.56 in the previous period[24] - Net profit for the period was ¥330,644,545.13, a decline of 12.5% compared to ¥377,926,636.06 in the same period last year[24] - The net profit attributable to shareholders of the parent company was ¥299,884,815.41, down 11.3% from ¥338,260,610.71[26] - Basic and diluted earnings per share were both ¥0.3373, compared to ¥0.3811 in the previous period[26] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,567,466,563.25, an increase of 0.96% from the end of the previous year[4] - Total current assets amount to ¥2,922,374,220.07, slightly down from ¥2,932,702,092.28[18] - Total non-current assets increased to ¥645,092,343.18 from ¥600,700,070.56[18] - Total liabilities decreased to ¥588,948,624.76 from ¥669,655,977.41, reflecting a reduction of approximately 12%[24] - Total equity increased to ¥2,978,517,938.49 from ¥2,863,746,185.43, representing a growth of about 4%[24] - The total equity attributable to shareholders increased by 3.19% to ¥2,876,073,747.89 compared to the end of the previous year[4] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥239,299,620.72, down 35.43% compared to the same period last year[4] - Operating cash flow for the current period is ¥239,299,620.72, a decrease of 35.4% compared to ¥370,611,649.72 in the previous period[27] - Total cash inflow from investment activities is ¥1,855,315,118.63, up from ¥1,125,512,474.71 in the previous period[27] - Net cash flow from investment activities is -¥25,877,802.04, an improvement from -¥1,000,317,648.34 in the previous period[27] - Cash inflow from financing activities is ¥1,491,000.00, an increase from ¥1,341,000.00 in the previous period[29] - Net cash flow from financing activities is -¥229,325,028.06, an improvement from -¥296,914,774.60 in the previous period[29] - The ending balance of cash and cash equivalents is ¥327,980,801.07, down from ¥426,393,954.99 in the previous period[29] Shareholder Information - Total number of common shareholders at the end of the reporting period is 79,356[13] - The top shareholder, Zhang Wendong, holds 26.67% of shares, totaling 237,138,069 shares[13] - The number of shares held by the top ten unrestricted shareholders is significant, with Zhang Wendong and Xiao Min holding 59,284,517 and 47,448,025 shares respectively[14] Investment and Income - The company reported a significant increase in investment income of 60.37% due to higher amounts in bank wealth management and treasury repurchase agreements[9] - The company reported a financial income of ¥11,699,183.71, down from ¥22,691,279.17 in the previous period[24] - Cash received from investment income is ¥19,863,051.72, compared to ¥5,408,087.78 in the previous period[27] Other Financial Metrics - The weighted average return on equity (ROE) was 3.83%, a decrease of 1.03% year-on-year[4] - Research and development expenses increased to ¥143,903,438.41, up 9.6% from ¥131,806,059.84[24] - Other comprehensive income after tax was -¥4,000,040.41, compared to -¥5,655,060.22 in the previous period[26] - The cash and cash equivalents net increase was -¥12,322,765.83, primarily due to a significant increase in redeemed bank wealth management and large deposits[11] - Accounts payable decreased to ¥393,364,023.42 from ¥470,178,029.55[18] - The company reported a decrease in inventory to ¥480,393,526.89 from ¥491,534,008.67[18] - The company has a total of 1,527,409,145.27 in trading financial assets, up from ¥1,244,228,476.24[16] - Cash received from other investment activities is ¥1,835,014,120.00, significantly higher than ¥1,119,612,785.96 in the previous period[27] - Cash paid for other investment activities is ¥1,875,000,000.00, a decrease from ¥2,120,129,000.00 in the previous period[27] - The impact of exchange rate changes on cash and cash equivalents is ¥3,580,443.55, compared to ¥2,605,433.57 in the previous period[29]