深圳市沃尔核材股份有限公司 2025 年第三季度报告 1、董事会及董事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、 误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2、公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度 报告中财务信息的真实、准确、完整。 3、第三季度财务会计报告是否经过审计 □是 否 证券代码：002130 证券简称：沃尔核材 公告编号：2025-070 深圳市沃尔核材股份有限公司 2025 年第三季度报告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容提示： 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年同 | | 年初至报告 | | --- | --- | --- | --- | --- | | | | 期增减 | 年初至报告期末 | 期末比上年 | | | | | | 同期增减 | | 营业收入（元） | 2,136,899,369.95 | 23.87% | 6,082,168,099.66 ...

盈峰环境科技集团股份有限公司 2025 年第三季度报告 证券代码：000967 证券简称：盈峰环境 公告编号：2025-072 号 盈峰环境科技集团股份有限公司 2025 年第三季度报告 2025 年 10 月 1 盈峰环境科技集团股份有限公司 2025 年第三季度报告 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度财务会计报告是否经过审计 □是 否 2 盈峰环境科技集团股份有限公司 2025 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年同 | 年初至报告期末 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 期增减 | | 比上年同期增减 | | 营业收入（元） | 3,081,293,051.08 | 1. ...

Revenue and Profit - Revenue for Q3 2025 was CNY 9,122,011,439.99, a decrease of 20.84% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 420,132,626.97, down 52.24% year-on-year[5] - Basic earnings per share decreased by 52.24% to CNY 0.0740[5] - Total operating revenue decreased to ¥27.18 billion from ¥33.09 billion, a decline of approximately 17.7% year-over-year[22] - Net profit for the period was ¥1.93 billion, down from ¥3.57 billion, representing a decline of approximately 46% year-over-year[22] - Operating profit decreased to ¥2.78 billion from ¥4.65 billion, a drop of around 40.2% year-over-year[23] - Net profit attributable to the parent company shareholders for the current period is ¥1,433,828,358.04, a decrease from ¥2,845,853,393.01 in the previous period, representing a decline of approximately 49.7%[24] - The total comprehensive income for the current period is ¥1,929,632,512.81, down from ¥3,568,808,274.09, indicating a decrease of about 46%[24] - Basic and diluted earnings per share for the current period are both ¥0.2526, compared to ¥0.5013 in the previous period, reflecting a decline of approximately 49.7%[24] Assets and Liabilities - Total assets at the end of Q3 2025 were CNY 109,390,908,609.88, a decrease of 0.51% from the end of the previous year[5] - The total assets amounted to ¥109.39 billion, slightly down from ¥109.95 billion[20] - Total liabilities decreased to ¥61.65 billion from ¥63.08 billion, a reduction of approximately 2.3%[20] Cash Flow - Cash flow from operating activities increased by 72.67% to CNY 4,443,680,534.10 year-to-date[5] - Cash flow from operating activities for the current period is ¥4,443,680,534.10, an increase from ¥2,573,581,956.00 in the previous period, showing a growth of about 72.7%[26] - Cash inflow from investment activities is ¥16,464,412.48, significantly lower than ¥213,227,399.10 in the previous period, indicating a decrease of approximately 92.3%[26] - Cash flow from financing activities shows a net outflow of ¥2,328,955,132.17, an improvement compared to a net outflow of ¥6,466,919,683.62 in the previous period[26] - The net increase in cash and cash equivalents for the current period is ¥905,967,740.14, contrasting with a net decrease of ¥5,062,555,870.96 in the previous period[27] - The ending balance of cash and cash equivalents is ¥9,204,472,103.78, down from ¥11,766,592,728.32 in the previous period[27] - The company received cash from sales of goods and services amounting to ¥32,963,384,048.69, a decrease from ¥36,080,908,841.17 in the previous period, representing a decline of approximately 5.8%[25] Shareholder Information - The total number of common shareholders at the end of the reporting period is 170,570[15] - Shanxi Coking Coal Group holds 57.29% of shares, totaling 3,252,317,230 shares, with 411,979,313 shares pledged[15] - The second largest shareholder is China Industrial and Commercial Bank, holding 1.98% of shares, totaling 112,587,902 shares[15] Receivables and Expenses - Accounts receivable increased by 63.38% to CNY 318,855,000 from the end of 2024[11] - Other receivables rose by 116.11% to CNY 39,080,000 compared to the end of 2024[11] - Financial expenses increased by 76.88% to CNY 78,046,000 due to financing interest expenses[13] - Operating profit decreased by 40.16% to CNY 278,491,000, primarily due to a decline in coal product prices[13] - Total profit decreased by 41.89% to CNY 274,094,000, reflecting the impact of lower coal prices[13] - Research and development expenses were ¥604.68 million, down from ¥747.43 million, indicating a reduction of about 19.1% year-over-year[23] Future Plans - The company plans to focus on market expansion and new product development in the upcoming quarters[20] Audit Status - The company has not undergone an audit for the third quarter financial report[28]

Financial Performance - The company's operating revenue for Q3 2025 was ¥210,557,932.40, representing a 2.08% increase year-over-year[5] - The net profit attributable to shareholders was -¥18,926,882.40, a decrease of 42.50% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥9,888,876.04, an increase of 30.53% year-over-year[5] - Total operating revenue for the current period reached ¥628,279,137.39, an increase from ¥600,025,805.16 in the previous period, representing a growth of approximately 4.2%[23] - Net profit for the current period was ¥6,292,463.82, compared to ¥4,420,550.07 in the previous period, reflecting a significant increase of approximately 42.4%[24] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,004,844,983.48, a decrease of 2.53% from the end of the previous year[5] - The company's total assets decreased to ¥2,004,844,983.48 from ¥2,056,863,377.12, a decline of about 2.5%[21] - Total liabilities decreased to ¥359,971,999.14 from ¥412,122,143.29, showing a reduction of approximately 12.6%[21] Cash Flow - The cash flow from operating activities for the year-to-date was -¥127,608,831.12, a decrease of 23.57% year-over-year[5] - Cash inflow from operating activities totaled CNY 562,353,033.13, down 8.4% from CNY 613,831,428.75 in the prior period[25] - Cash outflow from operating activities was CNY 689,961,864.25, a decrease of 11.6% compared to CNY 780,803,062.60 last year[25] - The net cash flow from operating activities was CNY -127,608,831.12, an improvement from CNY -166,971,633.85 in the previous period[25] - Cash inflow from investment activities was CNY 40,674,160.98, down 63.8% from CNY 112,431,713.25 in the prior period[26] - The net cash flow from investment activities was CNY 29,861,937.93, a decrease of 50.2% compared to CNY 60,019,617.46 last year[26] - Cash outflow from financing activities was CNY 1,777,242.54, a reduction of 54.5% from CNY 3,906,588.93 in the previous period[26] - The ending cash and cash equivalents balance was CNY 356,951,325.56, slightly up from CNY 352,567,771.96 in the prior period[26] Shareholder Information - The total number of common shareholders at the end of the reporting period is 20,149[13] - The largest shareholder, Hebei Zhixin Daneng New Energy Technology Co., Ltd., holds 12.94% of shares, totaling 69,455,843 shares[13] - The second-largest shareholder, Cui Fenghua, holds 2.13% of shares, totaling 11,409,877 shares[13] - The total number of shares held by the top 10 unrestricted shareholders is 69,455,843 shares for Hebei Zhixin Daneng New Energy Technology Co., Ltd.[13] Expenses - Research and development expenses for the current period were ¥40,428,409.82, down from ¥45,842,857.42, indicating a decrease of about 11.1%[24] - The company reported a significant increase in sales expenses, which rose to ¥73,566,946.36 from ¥64,933,011.73, an increase of approximately 13.5%[24] Other Financial Metrics - The weighted average return on net assets was -1.15%, a decrease of 0.46% compared to the same period last year[5] - The company experienced a 33.56% increase in credit impairment losses, totaling -¥32,979,155.26, due to increased provisions for bad debts[11] - The cash paid for various taxes increased by 32.84% to ¥50,075,866.76, attributed to higher corporate income tax and VAT payments[12] - The company reported a significant increase in deferred income by 141.15% due to increased government subsidies received[10] - Investment income for the first nine months of 2025 was -¥9,177,637.98, a decrease of 800.92% compared to the same period last year[11] - The company experienced a net investment loss of ¥9,177,637.98, contrasting with a gain of ¥1,309,375.25 in the previous period, highlighting a significant decline in investment performance[24] Miscellaneous - The company plans to correct prior accounting errors affecting financial statements from 2021 to 2022, as approved in a board meeting[17] - The third quarter financial report was not audited[27] - The company has no preferred shareholders or related information to report[14] - The company has not disclosed any changes in the top 10 shareholders due to margin trading activities[13] - The company has a total of 9,804,565 shares under lock-up agreements, with 6,548,104 shares remaining locked due to executive restrictions[16] - Basic and diluted earnings per share remained stable at CNY 0.01 for the current and previous periods[25] - The total comprehensive income attributable to minority shareholders was CNY 702,790.60, a decrease from CNY -1,139,664.27 in the previous period[25]

Revenue and Profitability - Revenue for Q3 2025 reached ¥131,106,843.50, an increase of 86.92% compared to the same period last year[5] - Net profit attributable to shareholders was -¥19,517,108.33, a decrease of 50.27% year-on-year[5] - Operating revenue for the first nine months of 2025 reached ¥304,606,055.23, a 72.72% increase compared to ¥176,360,265.61 in the same period of 2024[9] - Total operating revenue for the current period reached ¥304,606,055.23, a significant increase from ¥176,360,265.61 in the previous period, representing a growth of approximately 72.6%[18] - The net profit for the current period is -69,124,253.70, compared to -100,741,930.81 in the previous period, showing an improvement of approximately 31.4%[20] - The total comprehensive income for the current period is -63,380,803.70, compared to -100,741,930.81 in the previous period, indicating a reduction in losses[20] Cash Flow and Investments - The company reported a net cash flow from operating activities of -¥141,525,978.01, a decline of 37.32% compared to the previous year[5] - Net cash flow from operating activities improved by 37.32%, amounting to -¥141,525,978.01, compared to -¥225,808,193.82 in the previous year[9] - Investment activities generated a net cash flow of -¥645,636,116.68, a significant decline of 242.88% from -¥188,295,907.97 in the prior year[9] - Cash inflow from operating activities increased to 306,697,247.70 from 205,464,763.98 year-over-year[21] - Cash outflow from operating activities rose slightly to 448,223,225.71 from 431,272,957.80 year-over-year[21] - Investment activities resulted in a net cash outflow of -645,636,116.68, compared to -188,295,907.97 in the previous period, indicating increased investment expenditures[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,862,992,507.44, reflecting a growth of 5.61% from the end of the previous year[5] - Total liabilities rose to ¥1,483,823,584.57 from ¥1,249,489,843.08, an increase of approximately 18.7%[16] - The total current assets increased to ¥3,005,365,055.86 from ¥2,814,522,430.12, reflecting a growth of approximately 6.8%[14] - The company's equity attributable to shareholders decreased to ¥2,335,298,281.17 from ¥2,373,511,806.41, a decline of about 1.6%[16] Expenses and Financial Performance - Operating costs increased by 161.59% to ¥179,995,750.33, driven by the growth in operating revenue[9] - Total operating costs amounted to ¥388,423,038.26, up from ¥264,970,263.00, indicating an increase of about 46.5%[18] - Financial expenses decreased by 40.34% to -¥17,905,894.11, primarily due to reduced interest income from deposits[9] - Research and development expenses were ¥149,935,108.20, slightly decreased from ¥160,250,865.50, reflecting a reduction of approximately 6.9%[18] - The company recorded a tax expense of -39,973,837.63, compared to -37,060,008.88 in the previous period, indicating a slight increase in tax liabilities[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 63,751, with the largest shareholder holding 17.76% of the shares[11] - The company reported a basic and diluted earnings per share of -0.0767, an improvement from -0.1454 in the previous period[20] - The company’s basic and diluted earnings per share were both -¥0.0311, a decrease of 50.24% year-on-year[5] Inventory and Financial Assets - Cash and cash equivalents decreased by 52.98% to ¥634,323,691.51 due to investments in financial products[8] - Trade financial assets increased by 899.05% to ¥660,202,567.40, attributed to the use of idle funds for investments[8] - Inventory rose by 42.44% to ¥525,444,588.88, driven by increased raw material and finished goods reserves[8] - Accounts receivable increased to ¥1,013,001,332.01 from ¥917,271,778.49, representing a growth of about 10.4%[14]

Financial Performance - The company's operating revenue for the third quarter was ¥45,664,690.72, a decrease of 5.31% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥5,122,026.98, representing a decline of 158.58% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥5,400,014.55, down 164.87% from the previous year[5]. - Basic earnings per share were -¥0.0297, a decrease of 158.58% year-on-year[8]. - Net profit for the current period was ¥16,865,711.36, a decrease of 44.9% from ¥30,603,144.22 in the previous period[20]. - Earnings per share (EPS) for the current period were ¥0.0994, down from ¥0.1754 in the prior period[20]. Expenses - Management expenses increased by 23.27% to ¥12,980,100.00, primarily due to new equity incentive expenses[8]. - R&D expenses rose by 51.79% to ¥18,263,500.00, reflecting increased investment in R&D and higher personnel costs[8]. - Total operating costs amounted to ¥239,929,782.46, up 28.2% from ¥187,138,809.13 in the prior period[19]. - The company reported a financial expense of -¥10,820,977.08, an improvement from -¥15,694,358.75 in the prior period[19]. - The company experienced a credit impairment loss of -¥16,945,583.43, compared to -¥13,846,774.87 in the previous period, indicating a worsening of 22.7%[19]. Cash Flow - The net cash flow from operating activities was -¥29,117,480.44, an increase of 44.23% compared to the same period last year[8]. - Operating cash flow for the current period was -29,117,480.44 CNY, an improvement from -52,210,320.63 CNY in the previous period, indicating a reduction in cash outflow[22]. - Total cash inflow from investment activities significantly increased to 407,831,745.74 CNY, compared to 67,205,548.26 CNY in the prior period, reflecting a strong investment recovery[22]. - Net cash flow from financing activities was -10,947,129.18 CNY, an improvement from -38,281,587.21 CNY year-over-year, suggesting better management of financing costs[23]. - The net increase in cash and cash equivalents for the current period was 344,206,069.29 CNY, contrasting with a decrease of -31,172,623.14 CNY in the previous period, indicating a positive cash position[23]. - Cash received from sales of goods and services was 285,765,649.39 CNY, a significant increase from 173,215,761.75 CNY, reflecting strong revenue growth[22]. - Total cash outflow from operating activities was 332,297,857.38 CNY, compared to 260,425,387.55 CNY in the previous period, indicating increased operational expenses[22]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,877,906,640.00, an increase of 4.75% from the end of the previous year[5]. - Total assets increased to ¥1,877,906,640.00, compared to ¥1,792,725,866.86 in the previous period, reflecting a growth of 4.7%[17]. - Total liabilities rose to ¥412,392,366.00, up from ¥334,433,949.20, marking a 23.3% increase[17]. - Shareholders' equity totaled ¥1,465,514,274.00, slightly up from ¥1,458,291,917.66, indicating a growth of 0.2%[17]. - The company’s cash and cash equivalents decreased to ¥927,725,413.19 from ¥989,401,003.86, a decline of approximately 6.7%[15]. - Accounts receivable increased to ¥462,129,323.29 from ¥423,599,549.93, representing an increase of about 9.1%[15]. - Inventory rose to ¥225,688,446.27 from ¥158,579,865.14, marking an increase of approximately 42.3%[15]. - Total current assets at the end of the period amounted to ¥1,661,981,585.68, up from ¥1,604,198,847.58, an increase of about 3.6%[15]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 17,245[11]. - The largest shareholder, Zeng Lijun, holds 32.61% of shares, totaling 56,252,000 shares[11]. - The total number of restricted shares at the end of the period is 73,713,920, with 21,061,120 shares newly restricted[12]. - The company has no preferred shareholders or changes in preferred shareholder structure during the reporting period[12]. Other Information - The company received government subsidies amounting to ¥322,000.00 during the reporting period[6]. - The company did not execute any new accounting standards for the current reporting period, maintaining consistency in financial reporting[24]. - The third quarter financial report was not audited, which may affect the reliability of the reported figures[24].

Financial Performance - Q3 2025 revenue was CNY 497,754,348.82, a decrease of 22.78% year-over-year[4] - Net profit attributable to shareholders was a loss of CNY 138,682,490.13, down 123.34% compared to the same period last year[4] - The company achieved operating revenue of CNY 1,933.88 million, a decrease of 5.90% compared to the same period last year[14] - The net profit attributable to shareholders was CNY -180.12 million, a decline of 113.45% year-on-year, primarily due to high product homogeneity and intensified market competition[14] - Net loss for the period was CNY 254,891,246.58, compared to a net loss of CNY 119,268,802.60 in the previous period, indicating a significant increase in losses[21] - Basic and diluted earnings per share were both reported at -0.1900, compared to -0.0890 in the previous period, indicating a worsening of earnings per share[21] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date was CNY -198,861,807.39, an improvement of 20.53% from the previous year[4] - The net cash flow from operating activities was -198,861,807.39, compared to -250,250,503.64 in the previous period, indicating an improvement of approximately 20.5%[23] - Total cash inflow from investment activities was 291,524,634.65, while cash outflow was 312,849,843.01, resulting in a net cash flow of -21,325,208.36, an improvement from -224,487,961.08 in the previous period[23] - Cash inflow from financing activities totaled 1,580,081,153.00, while cash outflow was 1,639,049,006.32, leading to a net cash flow of -58,967,853.32, a decline from 602,729,125.14 in the previous period[23] - The total cash and cash equivalents at the end of the period was 1,292,185,780.71, down from 1,610,507,686.54 in the previous period, reflecting a decrease of approximately 19.7%[23] Assets and Liabilities - Total assets at the end of Q3 2025 were CNY 7,537,006,748.55, a decrease of 1.51% from the end of the previous year[4] - The company's equity attributable to shareholders decreased by 11.51% to CNY 1,742,228,259.35 compared to the end of the previous year[4] - Total non-current assets increased to CNY 2,020,072,396.79 from CNY 1,738,583,685.62, reflecting a growth of approximately 16.2%[19] - Total liabilities increased to CNY 5,225,398,742.37 from CNY 5,030,356,423.14, representing an increase of about 3.9% year-over-year[19] - The company's total assets decreased slightly to CNY 7,537,006,748.55 from CNY 7,652,407,216.86, a decline of approximately 1.5%[19] Income and Expenses - Other income increased by 86.31% to CNY 44,653,481.62 year-to-date, primarily due to increased government subsidies[9] - Investment income surged by 1961.57% to CNY 14,677,541.09, attributed to interest income from the transfer of large certificates of deposit[9] - Research and development expenses rose to CNY 74,410,679.70 from CNY 61,511,504.86, marking an increase of approximately 21% year-over-year[20] - Total operating costs increased to CNY 2,224,819,260.49 from CNY 2,172,377,628.50, reflecting an increase of about 2.4% year-over-year[20] Shareholder Information - The total number of common shareholders at the end of the reporting period was 44,749, with the largest shareholder, China Seed Group Co., Ltd., holding 20.51% of shares[10] - The company plans to distribute a cash dividend of CNY 0.5 per 10 shares, totaling CNY 47.37 million, based on the total issued share capital of 947,331,751 shares as of December 31, 2024[14] - The company’s total number of preferred shareholders was zero, indicating no preferred shares outstanding[12] Inventory and Receivables - The inventory balance increased to CNY 3,044.98 million from CNY 2,988.86 million at the beginning of the period[17] - The company’s long-term receivables rose to CNY 173.24 million from CNY 167.63 million at the beginning of the period[17] - The company’s total current assets decreased from CNY 5,913.82 million to CNY 5,516.93 million[17]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥167,280,121.94, representing a 36.23% increase year-over-year[5] - The net profit attributable to shareholders was a loss of ¥4,159,436.87, a 72.00% decline compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥14,325,005.80, which is a slight increase of 0.83% year-over-year[5] - The total operating revenue for the current period reached ¥391,109,447.18, representing an increase from ¥366,613,132.62 in the previous period, indicating a growth of approximately 6.5%[26] - Net profit attributable to shareholders was -¥5,060,338.70, compared to -¥31,806,581.76 in the previous period[28] - Total comprehensive income amounted to -¥5,476,154.70, compared to -¥34,207,259.51 in the previous period[28] - Basic and diluted earnings per share were both -¥0.01, compared to -¥0.07 in the previous period[28] Assets and Liabilities - The total assets at the end of the reporting period were ¥566,769,737.92, showing a decrease of 0.12% from the end of the previous year[5] - The total current assets amounted to ¥270,041,383.67, up from ¥250,061,065.81 at the beginning of the period, reflecting an increase of about 8.0%[24] - The total liabilities increased to ¥351,609,783.77 from ¥346,807,161.38, showing a rise of approximately 1.0%[25] - The non-current assets decreased to ¥296,728,354.25 from ¥317,382,204.42, indicating a decline of about 6.5%[24] - The total owner's equity decreased to ¥215,159,954.15 from ¥220,636,108.85, reflecting a decline of approximately 2.1%[25] - The short-term borrowings amounted to ¥126,061,805.55, indicating a new liability for the company[25] Cash Flow - The cash flow from operating activities showed a significant negative net amount of ¥112,001,379.04, a decline of 534.46% compared to the previous year[5] - Operating cash flow generated a net outflow of -¥112,001,379.04, a significant decline from a net inflow of ¥25,779,179.25 in the previous period[30] - Cash inflow from financing activities rose significantly by 514.96% to CNY 84,046,788.12, mainly due to increased bank borrowings[14] - Cash received from government subsidies and litigation compensation increased by 156.69% to CNY 62,017,884.16 compared to the previous period[14] - Cash outflow for purchasing goods and services increased by 47.06% to CNY 242,503,251.65, reflecting business growth[14] - Cash and cash equivalents decreased by 341.39% to CNY -31,772,602.54, mainly due to increased payments for fire compensation[14] Expenses and Income - The company reported a significant increase in other income to ¥19,377,603.96 from ¥4,381,262.11[27] - Total operating costs increased to ¥434,675,813.96 from ¥420,650,487.31, with operating costs rising to ¥341,912,984.23 from ¥297,829,774.80[27] - Research and development expenses slightly increased to ¥6,538,343.05 from ¥6,399,515.36[27] - The company incurred a credit impairment loss of ¥1,309,686.92, up from ¥475,016.38 in the previous period[27] Shareholder Information - Total number of ordinary shareholders at the end of the reporting period was 27,502[16] - The largest shareholder, Dahe Holdings Co., Ltd., holds 21.08% of shares, totaling 117,721,779 shares[16] Other Financial Metrics - The cash received from tax refunds decreased by 83.32% to ¥14,700.35, mainly due to a reduction in export tax rebates[12] - The company reported a 627.20% increase in prepayments, amounting to ¥38,089,587.75, due to new business prepayments[10] - The financial expenses decreased by 70.13% to ¥7,866,074.43, primarily due to reduced interest expenses[11] - The company recorded a significant increase in asset disposal gains of 217.50%, totaling ¥1,078,363.95[11] - Cash inflow from investment activities decreased by 99.44% to CNY 85,594.86, primarily due to no dividends received from associated companies[14] - Cash flow from investment activities turned negative at CNY -3,928,352.16, a decline of 151.54% compared to the previous period[14]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥198,744,022.92, an increase of 13.85% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2025 was ¥8,894,667.91, reflecting a growth of 14.94% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥10,382,260.65, up 51.94% from the previous year[5] - The basic earnings per share for Q3 2025 was ¥0.0187, an increase of 14.72% compared to the same period last year[5] - The company reported a net profit margin improvement, with net profit increasing in line with revenue growth, although specific figures were not disclosed in the provided content[28] - The company's net profit for the current period is CNY 15,250,775.12, a decrease of 17.3% compared to CNY 18,535,451.71 in the previous period[29] - Operating profit for the current period is CNY 21,938,464.81, slightly up from CNY 21,482,224.64 in the previous period[29] - The total comprehensive income for the current period is CNY 15,096,431.61, a decrease from CNY 18,535,451.71 in the previous period[30] Assets and Liabilities - Total assets at the end of Q3 2025 amounted to ¥1,425,813,202.97, a slight increase of 0.61% from the end of the previous year[5] - Total assets increased to ¥1,425,813,202.97 from ¥1,417,117,720.04, a growth of 0.6%[26] - Total liabilities slightly increased to ¥555,180,387.70 from ¥552,562,605.15, reflecting a rise of 0.5%[26] - Shareholders' equity totaled ¥870,632,815.27, up from ¥864,555,114.89, indicating an increase of 0.9%[26] Cash Flow - The company's cash flow from operating activities showed a significant decline, with a net outflow of ¥51,640,824.14, down 179.71% year-on-year[5] - Operating cash flow for the first nine months of 2025 was -51,640,824.14, a decrease of 179.71% compared to 64,784,674.08 in the same period of 2024, primarily due to increased cash purchases of raw materials[15] - Investment cash flow for the first nine months of 2025 was -6,838,240.81, a significant improvement of 96.84% from -216,503,767.32 in the same period of 2024, attributed to the absence of external investments this period[15] - Financing cash flow for the first nine months of 2025 was -55,424,300.65, a decline of 236.03% compared to 40,744,253.38 in the same period of 2024, mainly due to the lack of financing leases this period[15] - The company reported a net cash outflow from investing activities of CNY -6,838,240.81, an improvement from CNY -216,503,767.32 in the previous period[34] Shareholder Information - The total number of common shareholders at the end of the reporting period was 18,592, with no preferred shareholders having restored voting rights[17] - The largest shareholder, Hainan Dahe Enterprise Management Co., Ltd., holds 14.80% of shares, totaling 70,352,740 shares, which are currently frozen[17] - The second-largest shareholder, Wu Guozheng, holds 3.55% of shares, totaling 16,861,926 shares, with no restrictions[18] - The total number of restricted shares at the beginning of the period was 352,500, with 3,088,700 shares added during the period, resulting in a total of 3,441,200 restricted shares at the end[21] - The company has not disclosed any relationships or concerted actions among the top shareholders during the reporting period[19] - No shareholders with more than 5% ownership participated in margin financing or securities lending activities[19] - The company has not reported any changes in the top 10 shareholders due to securities lending or returning shares[19] Operational Costs - Total operating costs amounted to ¥537,749,194.56, up 8.4% from ¥496,128,221.52 in the prior period[28] - Operating costs included ¥391,569,756.92 for cost of goods sold, which rose by 9.5% from ¥357,545,731.88[28] - The company’s total expenses for sales, management, and R&D increased to CNY 137,391,706.70, up from CNY 130,343,647.15 in the previous period[29] Investment and Income - Investment income for the first nine months of 2025 was ¥3,924,619.99, a significant increase of 520.24% compared to the same period last year[13] - The company incurred a credit impairment loss of ¥-14,658,309.38, reflecting a 683.79% increase due to higher provisions for bad debts[14] - The company incurred a credit impairment loss of CNY -14,658,309.38, compared to CNY -1,870,173.94 in the previous period[29] - The company received CNY 222,000,000.00 from the recovery of investments, down from CNY 265,619,599.27 in the previous period[34] Cash and Equivalents - Cash and cash equivalents decreased to ¥60,161,489.45 from ¥174,064,855.46, reflecting a decline of 65.4%[24] - Cash and cash equivalents at the end of the period stand at CNY 60,161,489.45, down from CNY 85,001,347.11 in the previous period[34] - The company experienced a 65.44% decrease in cash and cash equivalents, totaling ¥60,161,489.45, attributed to strategic reserves and reduced bank credit usage[12] Accounts Receivable and Inventory - Accounts receivable increased to ¥297,607,609.60 from ¥294,924,720.30, showing a slight rise of 0.9%[24] - Inventory rose to ¥96,584,631.80, up 13.1% from ¥85,425,888.56[24]

Financial Performance - The company's revenue for Q3 2025 was ¥156,775,804.15, representing a decrease of 9.58% compared to the same period last year[5] - The net profit attributable to shareholders was -¥56,871,084.12, a decline of 7.29% year-on-year, while the net profit after deducting non-recurring gains and losses was -¥58,091,998.04, an increase of 34.86%[5] - The basic earnings per share for the period was -¥0.0568, a decrease of 9.44% compared to the same period last year[5] - The weighted average return on equity was -3.80%, a decrease of 1.09% year-on-year[5] - Total operating revenue decreased to ¥667,347,217.96 from ¥730,487,625.98, representing a decline of approximately 8.6% year-over-year[23] - The company's net loss increased to ¥-3,005,092,693.61 from ¥-2,906,212,586.08, representing a worsening of approximately 3.4% in retained earnings[21] - The net profit for the current period is -88,427,557.36, compared to -66,402,068.05 in the previous period, indicating a significant increase in losses[24] - The total comprehensive income for the current period is -88,462,345.03, compared to -66,658,280.08 in the previous period, reflecting a worsening financial position[25] - The company reported a basic and diluted earnings per share of -0.0968, compared to -0.0804 in the previous period, showing a decline in profitability per share[25] - The company incurred a total operating profit (loss) of -83,396,311.34, compared to -57,842,954.06 in the previous period, reflecting increased operational losses[24] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,871,137,590.79, down 6.09% from the end of the previous year[5] - The company’s total equity attributable to shareholders decreased by 6.15% to ¥1,471,042,761.88 compared to the end of the previous year[5] - Total current assets decreased to ¥2,554,318,537.21 from ¥2,756,362,415.57, a decline of approximately 7.3%[19] - Total liabilities decreased to ¥3,219,936,810.92 from ¥3,435,480,366.06, reflecting a reduction of about 6.3%[21] - The company's total liabilities increased significantly, with cash outflows from financing activities totaling 1,699,635,245.04, compared to 2,258,693,876.87 in the previous period, reflecting increased debt obligations[27] Income and Expenses - The company reported a significant increase in other income, which rose by 59.36% to ¥14,319,882.78 due to increased government subsidies[9] - Investment income decreased by 86.23% to ¥4,536,330.94, primarily due to the high disposal gains from subsidiaries in the previous year[9] - The company experienced a 477.08% increase in credit impairment losses, amounting to ¥22,526,552.43, due to the recovery of previously impaired receivables[11] - Total operating costs decreased to ¥794,302,643.02 from ¥829,208,886.89, reflecting a reduction of about 4.2% year-over-year[23] - Research and development expenses were ¥45,207,269.62, down from ¥49,381,987.88, indicating a decrease of approximately 8.8% year-over-year[23] - Financial expenses decreased to ¥101,160,660.80 from ¥110,256,316.89, a reduction of about 8.5% year-over-year[23] Cash Flow - The cash flow from operating activities showed a significant negative net amount of -¥121,948,373.24, reflecting a decline of 1,268.59%[5] - The net cash flow from operating activities is -121,948,373.24, a decline from 10,435,552.12 in the previous period, highlighting operational challenges[27] - Cash inflow from operating activities totaled 637,037,253.95, down from 866,921,820.39 in the previous period, indicating reduced sales performance[26] - The investment activities generated a net cash flow of -33,189,222.35, a decrease from 46,760,979.11 in the previous period, indicating reduced investment returns[27] - Cash and cash equivalents at the end of the period were ¥262,473,897.83, down from ¥318,919,711.47, a decrease of approximately 17.7%[19] - Cash and cash equivalents at the end of the period decreased to 25,413,252.46 from 71,580,854.50 in the previous period, indicating liquidity issues[27] Shareholder Information - The total number of common shareholders at the end of the reporting period is 81,817[13] - Hunan Haifei Holdings holds 8.63% of shares, totaling 88,188,561 shares, with 87,833,980 shares pledged[13] - The second largest shareholder, Sunbird Holdings, holds 8.22% of shares, totaling 84,000,000 shares[14] - The total shares held by the top two shareholders combined is 172,188,561, representing 16.85% of the total share capital[14] - Li Yuexian, a natural person, holds 2.60% of shares, totaling 19,954,080 shares, with 26,000,000 shares pledged[13] - The company has a total of 21,460,305 restricted shares, with 45,000 shares released during the period[17] - The company has a high concentration of ownership among the top shareholders, with the top 10 shareholders holding significant stakes[14] - The company has not disclosed any changes in the shareholding structure of the top 10 shareholders due to margin trading[14] - The company has a strategy to gradually release restricted shares, with 25% of restricted shares eligible for release each year[16] - There are no significant changes in the number of preferred shareholders or their holdings during the reporting period[15]