Revenue and Profit - The company's revenue for Q3 2025 was ¥1,176,204,984.63, a decrease of 11.57% compared to the same period last year[7]. - Total profit for the quarter was ¥57,983,138.74, reflecting a growth of 4.68% year-on-year[7]. - Net profit attributable to shareholders was ¥19,532,206.70, down 5.95% from the previous year[7]. - The net profit after deducting non-recurring gains and losses increased by 35.05% to ¥16,536,644.22[11]. - The total profit for the period was CNY 239,161,603.93, an increase from CNY 228,778,836.75 in the previous period, representing a growth of approximately 2.1%[20]. - The net profit attributable to the parent company's shareholders was CNY 113,272,679.10, slightly down from CNY 115,389,096.18, indicating a decrease of about 1.8%[20]. - The total comprehensive income for the period was CNY 156,200,696.76, compared to CNY 166,419,996.32 in the previous period, reflecting a decrease of approximately 6.7%[20]. Cash Flow and Investments - The net cash flow from operating activities surged by 272.18% to ¥117,545,955.30, primarily due to increased cash collection from customers[11]. - Operating cash flow for the first three quarters of 2025 was CNY 152,401,395.53, a significant improvement compared to a negative cash flow of CNY -136,171,855.20 in the same period of 2024[22]. - Total cash inflow from investment activities was CNY 718,417,262.89, compared to CNY 6,228,062.59 in the previous year, showing a substantial increase[22]. - The company reported a net cash outflow from investment activities of CNY -303,265,365.00, an improvement from CNY -551,834,480.07 in the previous year[23]. - The company received CNY 4,100,000.00 from investments in subsidiaries, an increase from CNY 1,780,000.00 in the previous period[23]. - The company experienced a net cash outflow from financing activities of CNY -45,583,235.44, contrasting with a net inflow of CNY 488,335,913.76 in the previous year[23]. Assets and Liabilities - Total assets at the end of the reporting period stood at ¥6,773,096,615.89, a slight increase of 0.48% from the end of the previous year[8]. - Total liabilities amounted to CNY 2,990,016,818.78 as of September 30, 2025, slightly down from CNY 3,012,397,091.80 at the end of 2024[18]. - Shareholders' equity increased to CNY 3,783,079,797.11 as of September 30, 2025, compared to CNY 3,728,454,456.74 at the end of 2024, reflecting a growth of 1.46%[18]. Shareholder Information - The company reported a total of 99,952 ordinary shareholders at the end of the reporting period[12]. - The top shareholder, Zhang Guifeng, holds 76,781,900 shares, representing 18.48% of the total shares, with 19,000,000 shares pledged[13]. - The company did not report any significant changes in shareholder structure or any new strategies during the reporting period[14]. Operating Performance - Total operating revenue for the first three quarters of 2025 was CNY 3,598,839,157.89, a decrease of 5.06% compared to CNY 3,790,961,214.30 in the same period of 2024[19]. - Total operating costs for the first three quarters of 2025 were CNY 3,301,231,298.25, down 5.61% from CNY 3,497,559,422.63 in 2024[19]. - Operating profit for the first three quarters of 2025 increased to CNY 244,058,720.57, compared to CNY 230,567,998.58 in 2024, reflecting a growth of 5.93%[19]. Financial Ratios - The weighted average return on equity decreased by 0.06 percentage points to 0.59% compared to the end of the previous year[8]. - Basic and diluted earnings per share were both CNY 0.27, down from CNY 0.28 in the previous period[21]. Accounts and Inventory - Cash and cash equivalents increased to CNY 478,361,027.62 as of September 30, 2025, from CNY 673,474,158.84 as of December 31, 2024[16]. - Accounts receivable rose to CNY 2,607,006,234.08 as of September 30, 2025, compared to CNY 2,193,449,437.94 at the end of 2024, indicating an increase of 18.83%[16]. - Inventory decreased to CNY 249,980,676.16 as of September 30, 2025, from CNY 300,469,284.62 at the end of 2024, a decline of 16.67%[16]. - Non-current assets totaled CNY 1,804,856,724.95 as of September 30, 2025, compared to CNY 1,982,597,335.93 at the end of 2024, a decrease of 8.95%[17].

Financial Performance - The company's operating revenue for the third quarter was ¥278,199,194.62, representing a year-on-year increase of 19.21%[4] - The total profit for the third quarter was a loss of ¥22,314,709.25, with a year-to-date loss of ¥31,838,705.12, reflecting a significant decline of 1,311.23% compared to the previous year[4] - The net profit attributable to shareholders for the third quarter was a loss of ¥16,178,492.68, with a year-to-date loss of ¥23,821,548.45, indicating a year-on-year decline of 1,765.00%[4] - The basic earnings per share for the third quarter was -¥0.0422, with a year-to-date figure of -¥0.0621, showing a decline of 1,778.38%[5] - Total operating revenue for the first three quarters of 2025 was CNY 827,163,133.33, a decrease of 12.2% compared to CNY 941,944,624.36 in the same period of 2024[20] - Net profit for the first three quarters of 2025 was a loss of CNY 26,987,434.11, compared to a profit of CNY 2,459,240.59 in the same period of 2024[22] - The net profit attributable to shareholders of the parent company for the first three quarters of 2025 was a loss of CNY 23,821,548.45, compared to a profit of CNY 1,430,725.38 in the previous year[22] - The company reported a total comprehensive loss of CNY 25,848,617.47 for the first three quarters of 2025, compared to a comprehensive income of CNY 2,735,245.81 in the same period of 2024[22] - Total comprehensive income for the first three quarters of 2025 was a loss of CNY 22.65 million, compared to a loss of CNY 2.56 million in the same period of 2024[33] Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period was ¥12,610,376.42, down by 80.51% compared to the previous year[4] - Operating cash flow for the first nine months of 2025 was CNY 12,610,376.42, a decrease of 80.5% compared to CNY 64,700,701.54 in the same period of 2024[25] - Total cash inflow from operating activities was CNY 959,406,078.06, while cash outflow was CNY 946,795,701.64, resulting in a net cash flow from operating activities of CNY 12,610,376.42[25] - Cash and cash equivalents decreased to RMB 191,576,381.86 from RMB 286,586,449.61, representing a decline of approximately 33.1%[16] - The company's cash and cash equivalents at the end of the period were CNY 112,667,195.62, compared to CNY 119,032,867.00 at the end of 2024[26] - The company's total liabilities were CNY 1,649,538,514.76, a decrease from CNY 1,723,141,108.06 in the previous year[29] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,736,077,737.23, a decrease of 3.18% from the previous year[5] - Total assets as of September 30, 2025, amounted to RMB 2,736,077,737.23, a decrease from RMB 2,825,978,057.93 as of December 31, 2024, reflecting a decline of approximately 3.15%[16] - Current assets totaled RMB 2,037,434,432.14, down from RMB 2,135,141,724.46, indicating a decrease of about 4.59%[16] - Total liabilities as of the reporting date were CNY 1,914,239,330.20, a decrease from CNY 1,974,457,626.71 in the previous year[20] - Total equity attributable to shareholders of the parent company was CNY 807,425,377.96, down from CNY 833,939,324.25 in the previous year[20] - The total equity of the company as of September 30, 2025, was CNY 802,715,202.81, down from CNY 829,202,377.30 at the end of 2024[29] Inventory and Borrowings - Inventory increased to RMB 517,333,259.45 from RMB 418,019,603.75, marking an increase of approximately 23.8%[16] - Short-term borrowings rose significantly to RMB 653,000,590.80 from RMB 334,335,594.89, an increase of about 95.4%[17] - The company reported a decrease in inventory to CNY 446,167,326.12 from CNY 364,512,292.76 in the previous year[28] Challenges and Future Outlook - The company reported a significant decline in gross profit margin, which impacted total profit and net profit attributable to shareholders[9] - The company is facing challenges due to decreased product sales revenue and declining gross profit margins, which are expected to affect future performance[9] - The company incurred financial expenses of CNY 25.54 million, slightly up from CNY 25.34 million in the previous year[32]

Financial Performance - The company's operating revenue for the third quarter was CNY 79.40 million, a decrease of 7.79% compared to the same period last year[4]. - The total profit for the quarter was CNY 7.87 million, down 7.58% year-on-year[4]. - The net profit attributable to shareholders was CNY 6.55 million, an increase of 33.13% compared to the same period last year[4]. - The net profit after deducting non-recurring gains and losses for the quarter was CNY 6.59 million, up 40.43% year-on-year[4]. - The basic earnings per share for the quarter was CNY 0.05, a decrease of 7.14% compared to the previous year[5]. - Total operating revenue for the first three quarters of 2025 was CNY 230,372,618.85, a decrease of 5.5% compared to CNY 242,455,774.39 in the same period of 2024[24]. - Operating profit for the first three quarters of 2025 was CNY 22,481,112.49, compared to CNY 25,726,094.01 in 2024, indicating a decline of 12.0%[24]. - Net profit for the first three quarters of 2025, after tax expenses of CNY 4,697,806.19, was CNY 17,850,788.03, down from CNY 18,385,494.69 in 2024[24]. - The net profit for the first three quarters of 2025 is CNY 17,850,788.03, a decrease from CNY 18,385,494.69 in the same period of 2024, representing a decline of approximately 2.9%[25]. - The total comprehensive income for the first three quarters of 2025 is CNY 17,837,904.09, down from CNY 18,381,713.08 in 2024, indicating a decrease of about 3.0%[25]. - The basic earnings per share for the first three quarters of 2025 is CNY 0.13, compared to CNY 0.14 in the same period of 2024, reflecting a decline of approximately 7.1%[25]. Cash Flow and Assets - The cash flow generated from operating activities for the year-to-date was CNY 61.03 million, an increase of 122.03%[4]. - Cash flow from operating activities for the first three quarters of 2025 is CNY 61,031,187.06, significantly higher than CNY 27,488,229.75 in 2024, marking an increase of about 121.5%[27]. - Cash and cash equivalents as of September 30, 2025, amounted to CNY 155,157,431.20, an increase from CNY 89,295,697.69 at the end of 2024[19]. - Total assets at the end of the quarter were CNY 865.44 million, a decrease of 0.91% from the end of the previous year[5]. - Total assets as of September 30, 2025, were CNY 865,438,998.96, slightly down from CNY 873,387,779.84 at the end of 2024[21]. - Total liabilities as of September 30, 2025, were CNY 58,514,122.48, compared to CNY 56,207,024.45 at the end of 2024, reflecting an increase of 4.1%[21]. - Non-current assets decreased to CNY 535,741,842.31 as of September 30, 2025, from CNY 564,511,841.26 at the end of 2024, a decline of 5.1%[20]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 9,621[11]. - Zhejiang Tianpu Holdings Co., Ltd. holds 75,360,000 shares, accounting for 56.21% of total shares[11]. - Yu Jianyi directly holds 12,000,000 shares, representing 8.95% of total shares[11]. - The top 10 shareholders collectively hold significant stakes, with the largest shareholder holding over 56%[12]. - Tianpu Holdings and Tianxing Trading signed share transfer agreements involving a total of 10.75% of the company's shares[14]. - The company is undergoing a change in control, with the actual controller shifting from Yu Jianyi to Yang Gongyifan[16]. - After the share transfer and capital increase, the combined control of Tianpu Holdings and its associates will exceed 68% of the company's shares[15]. - The company is committed to complying with legal disclosure obligations regarding the ongoing control change[18]. - The share transfer agreements include performance commitments and compensation arrangements[13]. - The company has not identified any other relationships among shareholders that may constitute concerted actions[12]. Expenses and Investments - Research and development expenses for the first three quarters of 2025 were CNY 17,216,369.79, up from CNY 16,211,080.69 in 2024, indicating an increase of 6.2%[24]. - The company reported an investment income of CNY 3,269,120.68 for the first three quarters of 2025, compared to CNY 2,575,071.33 in 2024, representing a growth of 27.0%[24]. - Cash inflow from investment activities in the first three quarters of 2025 totals CNY 444,750,274.19, compared to CNY 515,587,170.45 in 2024, showing a decrease of approximately 13.7%[28]. - The net cash flow from investment activities for the first three quarters of 2025 is CNY 26,091,489.00, down from CNY 35,977,411.53 in 2024, indicating a decline of about 27.3%[28]. - The net cash flow from financing activities for the first three quarters of 2025 is -CNY 20,112,000.00, an improvement from -CNY 29,497,600.00 in 2024, reflecting a reduction in outflows of approximately 31.7%[28]. - The company received CNY 252,192,957.68 in cash from sales of goods and services in the first three quarters of 2025, an increase from CNY 243,739,703.04 in 2024, indicating a growth of approximately 3.0%[27]. Accounting Standards - The company has not applied new accounting standards or interpretations for the year 2025[29].

Financial Performance - The company's operating revenue for the third quarter reached ¥135,483,074.38, representing a year-on-year increase of 321.47%[3] - The total profit for the third quarter was ¥17,664,499.47, with a significant increase attributed to higher operating revenue compared to the same period last year[8] - The net profit attributable to shareholders for the third quarter was ¥18,431,495.46, reflecting a substantial increase due to increased product deliveries[8] - The basic earnings per share for the third quarter was ¥0.24, up from ¥0.14 in the same period last year[3] - The net profit excluding non-recurring gains and losses for the third quarter was ¥16,412,165.13, a significant improvement compared to the previous year[3] - Total operating revenue for the first three quarters of 2025 reached ¥212.14 million, a significant increase from ¥68.20 million in the same period of 2024, representing a growth of 211.5%[18] - The net profit for the first three quarters of 2025 was ¥5.34 million, a turnaround from a net loss of ¥30.50 million in the same period of 2024[19] - The company reported a gross profit of ¥58.52 million for the first three quarters of 2025, compared to a gross loss of ¥-30.39 million in 2024[18] - The company achieved a basic earnings per share of ¥0.14 for the first three quarters of 2025, compared to a loss per share of ¥-0.37 in the same period of 2024[19] Research and Development - Research and development expenses totaled ¥9,962,572.81, accounting for 7.35% of operating revenue, a decrease from 28.94% year-on-year[4] - Research and development expenses for the first three quarters of 2025 were ¥34.91 million, slightly down from ¥36.10 million in 2024, reflecting a decrease of 3.3%[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,846,143,695.41, an increase of 4.62% compared to the previous year[4] - The total assets of the company as of the reporting date amounted to ¥1,846.14 million, an increase from ¥1,764.68 million in the previous year, showing a growth of 4.6%[17] - The total liabilities increased to ¥291.46 million in 2025 from ¥213.76 million in 2024, marking a rise of 36.3%[17] - The equity attributable to shareholders of the parent company was ¥1,568.15 million, slightly up from ¥1,562.54 million in the previous year, indicating a growth of 0.4%[17] Cash Flow - The net cash flow from operating activities was not applicable for the current period, but it was reported as -¥10,190,528.59 for the year-to-date[3] - In the first three quarters of 2025, the cash inflow from operating activities was CNY 229,786,586.62, a significant increase from CNY 126,428,384.54 in the same period of 2024, representing an increase of approximately 81.7%[21] - The net cash flow from operating activities was negative CNY 10,190,528.59, an improvement compared to negative CNY 64,194,546.24 in the first three quarters of 2024[21] - The cash inflow from investment activities totaled CNY 2,397,563,532.89, up from CNY 2,036,420,318.08 in the previous year, marking an increase of about 17.7%[22] - The net cash flow from investment activities was positive CNY 155,461,159.49, a turnaround from negative CNY 242,885,784.67 in the same period of 2024[22] - The cash inflow from financing activities was CNY 25,743,757.08, compared to CNY 20,809,297.27 in the previous year, reflecting an increase of approximately 23.3%[22] - The net cash flow from financing activities was positive CNY 2,176,348.27, improving from negative CNY 114,528,103.06 in the first three quarters of 2024[22] - The total cash and cash equivalents at the end of the period increased to CNY 824,865,828.63 from CNY 805,062,438.96 at the end of the same period last year[22] Shareholder Information - Total number of common shareholders at the end of the reporting period is 5,677[11] - The largest shareholder, Tianjin Junrong Huizhi Technology Center (Limited Partnership), holds 25.08% of shares, totaling 18,973,030 shares[11] - The company has three major shareholders, all controlled by the same individual, Chen Bo[12] - The total number of shares held by the company's repurchase account is 1,559,671, representing 2.0614% of the total share capital[12] Other Information - The company expects continued growth in product deliveries and revenue in the upcoming quarters, driven by market expansion strategies[8] - The company announced a delay in the completion of the smart equipment Beijing industrial base project from September 2025 to October 2026[14] - The company's cash and cash equivalents as of September 30, 2025, amount to ¥827,331,479.03, an increase from ¥680,612,648.23 at the end of 2024[15] - Accounts receivable increased to ¥242,023,759.75 from ¥144,518,505.79 in the previous year, indicating a growth of approximately 67.5%[15] - Inventory as of September 30, 2025, is valued at ¥189,215,204.34, up from ¥153,323,606.28, reflecting a growth of about 23.4%[15] - The trading financial assets decreased to ¥175,000,000.00 from ¥385,264,234.03, a decline of approximately 54.5%[15] - The company received CNY 199,253,958.96 in cash from sales of goods and services, a substantial increase from CNY 60,009,214.30 in the first three quarters of 2024, indicating a growth of approximately 232.5%[21] - The company reported cash received from tax refunds of CNY 9,971,991.35, significantly higher than CNY 112,359.57 in the same period of 2024[21] - The company has not adopted new accounting standards or interpretations that would affect the financial statements for the year of first execution[23]

Financial Performance - The company's operating revenue for the third quarter reached ¥942,156,123.36, representing a year-on-year increase of 10.44%[4] - The total profit for the quarter was ¥206,011,250.06, reflecting a growth of 10.75% compared to the same period last year[4] - The net profit attributable to shareholders was ¥176,546,803.24, which is a 9.77% increase year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥162,725,925.99, up by 10.41% from the previous year[4] - The basic earnings per share for the quarter was ¥0.312, an increase of 9.09% compared to the same period last year[5] - Total operating revenue for the first three quarters of 2025 reached ¥3,041,361,639.17, an increase of 10.2% compared to ¥2,759,116,202.14 in the same period of 2024[20] - Net profit for the first three quarters of 2025 was ¥653,536,523.20, compared to ¥573,907,880.00 in 2024, representing a growth of 13.9%[21] - Basic earnings per share for the first three quarters of 2025 increased to ¥1.148, up from ¥1.024 in the same period of 2024[22] Assets and Liabilities - The total assets of the company at the end of the reporting period amounted to ¥5,755,687,724.88, marking a 14.73% increase from the end of the previous year[5] - Total assets as of the end of the reporting period amounted to ¥5,755,687,724.88, compared to ¥5,016,843,207.73 at the end of 2024, marking an increase of 14.7%[18] - Total liabilities increased to ¥2,472,402,407.84 from ¥1,936,551,143.73, reflecting a rise of 27.6%[18] - The total liabilities were not explicitly stated but are essential for assessing the company's financial health[15] Cash Flow - The cash flow from operating activities for the year-to-date was ¥490,387,656.36, showing a significant increase of 40.09%[5] - The company's cash flow from operating activities for the first three quarters of 2025 showed a positive trend, indicating improved liquidity[23] - Cash inflow from operating activities for the first three quarters of 2025 reached approximately CNY 3.11 billion, an increase of 17% compared to CNY 2.66 billion in the same period of 2024[25] - Net cash flow from operating activities was CNY 490.39 million in the first three quarters of 2025, up from CNY 350.05 million in 2024, representing a growth of 40%[25] - The ending cash and cash equivalents balance for the first three quarters of 2025 was CNY 459.66 million, down from CNY 772.44 million in 2024[26] Equity - The equity attributable to shareholders increased to ¥3,248,239,730.07, which is a 5.72% rise compared to the previous year[5] - The total equity attributable to shareholders increased to ¥3,248,239,730.07 from ¥3,072,526,287.29, reflecting a growth of 5.7%[18] Research and Development - Research and development expenses for the first three quarters of 2025 were ¥104,600,773.85, up from ¥74,489,927.63 in 2024, indicating a focus on innovation[21] Other Information - The company has not reported any significant changes in shareholder structure or major transactions during the reporting period[14] - There are no new product launches or technological advancements mentioned in the conference call[14] - Future outlook and performance guidance were not detailed in the provided documents[14] - The company reported a goodwill of CNY 482,016,236.04, indicating significant intangible asset value[16] - The company will not apply new accounting standards starting from 2025[27]

山东黄金矿业股份有限公司 2025 年第三季度报告 证券代码：600547 证券简称：山东黄金 山东黄金矿业股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 公司董事会及董事、高级管理人员保证季度报告内容的真实、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。 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）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 单位：元 币种：人民币 | | | 本报告期比 | | 年初至报告期 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期增 | 年初至报告期末 | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 27,017,278,703.76 | 27.25 | 83,78 ...

Financial Performance - The company's operating revenue for the third quarter was ¥48,335,771.76, representing a year-on-year increase of 143.45%[2] - The total profit for the period was -¥25,256,136.68, with a net profit attributable to shareholders of the listed company at -¥25,381,073.77[2] - The basic earnings per share for the quarter was -¥0.22, compared to -¥0.73 for the year-to-date[2] - Total operating revenue for the first three quarters of 2025 was CNY 81,386,642.64, a decrease of 14.5% compared to CNY 94,999,836.48 in the same period of 2024[18] - Net loss for the first three quarters of 2025 was CNY 83,729,512.69, compared to a net loss of CNY 35,973,023.75 in the same period of 2024, representing a significant increase in losses[19] - The company's operating profit (loss) for the period was CNY -79,385,117.76, worsening from CNY -31,101,021.11 in the previous year[19] - Basic and diluted earnings per share for the first three quarters of 2025 were both CNY -0.73, compared to CNY -0.32 in the same period of 2024[20] Cash Flow and Liquidity - The net cash flow from operating activities was ¥9,792,670.01, a significant improvement compared to -¥29,548,913.80 for the year-to-date[2] - The company's cash flow from operating activities showed a significant decline, impacting liquidity and operational flexibility[21] - Cash inflow from operating activities for the first three quarters of 2025 was $293.78 million, an increase of 53.6% compared to $191.16 million in the same period of 2024[22] - Net cash outflow from operating activities was $29.55 million for the first three quarters of 2025, improving from a net outflow of $96.75 million in the same period of 2024[22] - The ending cash and cash equivalents balance for the first three quarters of 2025 was $90.67 million, down from $190.21 million in the same period of 2024[23] - Total cash outflow from operating activities was $323.32 million in 2025, compared to $287.90 million in 2024, reflecting an increase of 12.3%[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,310,288,116.69, down 14.12% from the end of the previous year[3] - Total assets decreased from CNY 1,525,768,444.25 to CNY 1,310,288,116.69, reflecting a decline of approximately 14.1%[16] - Total liabilities decreased from CNY 553,326,160.45 to CNY 417,316,306.76, a reduction of about 24.6%[16] - Total current assets as of September 30, 2025, amount to 102,784,428.63 RMB, down from 188,229,802.82 RMB as of December 31, 2024[14] - Accounts receivable decreased to 386,317,311.21 RMB from 585,085,036.52 RMB year-over-year[14] - Inventory increased to 122,315,843.99 RMB from 104,224,698.45 RMB year-over-year[14] - Contract assets rose to 139,783,952.79 RMB from 127,825,409.74 RMB year-over-year[14] Shareholder Information - Total number of common shareholders at the end of the reporting period is 7,254[10] - The largest shareholder, Beijing Xinxin Xuancan Technology Center, holds 13,589,649 shares, representing 12.00% of total shares[10] - The second-largest shareholder, He Wenhui, holds 11,963,918 shares, representing 10.56% of total shares, with 5,169,094 shares frozen and 6,794,824 shares marked[12] Operational Challenges - The company faced increased operating costs and management expenses, affecting overall profitability[7] - The weighted average return on net assets was -2.81% for the quarter, reflecting ongoing financial challenges[3] - Non-recurring gains and losses for the period totaled -¥2,972,703.24, with significant impacts from asset disposals and government subsidies[6] - The company has been placed under delisting risk warning due to financial performance issues, with specific criteria outlined for potential delisting[13] - The company reported a significant decrease in cash and cash equivalents, indicating potential liquidity concerns[14] - Research and development expenses for the first three quarters of 2025 were CNY 5,017,456.96, down from CNY 6,283,086.93 in the previous year, indicating a reduction in investment in innovation[18] - The company reported an increase in credit impairment losses of CNY -22,736,441.63, compared to a gain of CNY 6,278,920.48 in the same period of 2024, highlighting challenges in asset quality[19] Market Activity - The company reported an increase in construction project numbers, contributing to revenue growth in the engineering sector[7] - The company did not report any significant new product launches or market expansions during the conference call[24]

Financial Performance - The company's operating revenue for the third quarter reached ¥2,708,488,107.19, representing a year-on-year increase of 4.71%[4] - The total profit for the quarter was ¥147,583,345.66, showing a decrease of 20.19% compared to the same period last year[4] - The net profit attributable to shareholders was ¥147,207,322.70, down 12.78% year-on-year[4] - The basic earnings per share for the quarter was ¥0.2145, reflecting a decrease of 12.38% compared to the previous year[4] - Total operating revenue for the first three quarters of 2025 reached ¥7,563,243,563.34, an increase of 6.5% compared to ¥7,100,051,857.58 in the same period of 2024[19] - Net profit for the first three quarters of 2025 was ¥247,934,519.08, a decrease of 18.8% from ¥305,598,754.27 in the previous year[20] - Basic earnings per share for the first three quarters of 2025 were ¥0.3714, down from ¥0.4383 in the same period of 2024[21] - The net profit for the first three quarters of 2025 was CNY 236,659,514.42, a decrease from CNY 292,987,780.78 in the same period of 2024, representing a decline of approximately 19.2%[32] - Operating profit for the first three quarters of 2025 was CNY 227,606,491.37, down from CNY 292,148,832.07 in 2024, indicating a decrease of about 22.1%[32] Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥-1,099,443,668.97 for the year-to-date[4] - Cash generated from operating activities amounted to ¥7,055,857,643.81, compared to ¥6,678,326,284.21 in the previous year, indicating a growth of 5.7%[23] - Operating cash inflow totaled ¥7,142,280,661.21, an increase from ¥6,758,493,813.55[24] - Cash flow from operating activities for the first three quarters of 2025 was negative at CNY -73,100,643.90, an improvement compared to CNY -119,394,566.09 in 2024[35] - The net cash flow from financing activities was ¥59,014,784.12, a significant recovery from -¥330,775,732.31 in the previous period[25] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥11,145,988,415.47, a decrease of 6.64% from the end of the previous year[5] - Total current assets as of September 30, 2025, amount to ¥9,987,671,659.11, a decrease from ¥10,817,647,592.63 at the end of 2024[16] - Total liabilities decreased to ¥6,226,257,885.64 from ¥6,989,602,409.51, a reduction of 10.9%[18] - Total liabilities decreased to ¥1,358,398,151.90 from ¥1,575,226,763.48, indicating improved financial stability[29] - The total assets as of September 30, 2025, were ¥4,673,926,929.10, down from ¥4,879,968,940.57, indicating a contraction in asset base[29] Shareholder Information - Total equity attributable to shareholders was ¥4,861,893,808.27, showing a slight increase of 0.49% compared to the previous year[5] - Total equity attributable to shareholders increased slightly to ¥4,861,893,808.27 from ¥4,838,060,231.21, showing a growth of 0.5%[18] - Total number of common shareholders at the end of the reporting period is 38,721[12] - The largest shareholder, East China Computer Technology Research Institute, holds 139,598,271 shares, representing 20.52% of total shares[12] Operational Efficiency - Total operating costs increased to ¥7,335,877,191.80, up from ¥6,786,098,303.79, reflecting a rise of 8.1%[19] - Gross profit margin decreased as cost of goods sold rose to ¥905,870,903.76 from ¥506,170,312.43, indicating increased operational costs[31] - The company reported a decrease in inventory to ¥488,755,363.10 from ¥542,423,331.83, suggesting improved inventory management[27] Research and Development - Research and development expenses for the first three quarters of 2025 were ¥350,518,019.68, an increase from ¥329,134,175.75 in 2024, reflecting a growth of 6.5%[19] - Research and development expenses increased to ¥34,036,529.53 from ¥27,210,003.37, reflecting a focus on innovation[31] Other Financial Metrics - The weighted average return on equity was 3.04%, a decrease of 0.70 percentage points from the previous year[5] - The company reported a decrease in interest income to ¥10,066,301.22 from ¥21,357,120.66, a decline of 53.9%[20] - Other comprehensive income after tax for the first three quarters of 2025 was -¥3,755,096.09, compared to -¥7,697,786.53 in the previous year, indicating an improvement[21] - The company incurred credit impairment losses of CNY -2,717,320.29 in 2025, compared to CNY -1,196,575.60 in 2024, indicating a significant increase in losses[32] Government Support - The company received government subsidies amounting to ¥32,892,063.33, which are related to its normal business operations[9] Strategic Developments - There are no significant new strategies or product developments mentioned in the conference call[14] - The company has not adopted new accounting standards or interpretations for the year 2025[37]

苏州春秋电子科技股份有限公司 2025 年第三季度报告 证券代码：603890 证券简称：春秋电子 债券代码：113577 债券简称：春秋转债 债券代码：113667 债券简称：春23转债 苏州春秋电子科技股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、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。 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）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 1 / 14 苏州春秋电子科技股份有限公司 2025 年第三季度报告 单位:元 币种:人民币 | 非经常性损益项目 | 本期金额 | 年初至报告期末金额 说明 | | --- | --- | --- | | 非流动性资产处置损益，包括已计提资产减值准备的冲销部分 | -1,444,472.21 | -421,221.72 | | ...

Financial Performance - The company's operating revenue for the third quarter reached ¥759,267,252.46, representing a year-on-year increase of 53.12%[4] - The total profit for the third quarter was ¥23,591,759.45, reflecting a growth of 56.16% compared to the same period last year[4] - The net profit attributable to shareholders was ¥36,585,014.05, an increase of 47.97% year-on-year[4] - The net profit excluding non-recurring gains and losses surged by 177.03% to ¥31,094,549.35 in the third quarter[4] - Basic and diluted earnings per share for the third quarter were both ¥0.08, marking a 60.00% increase compared to the previous year[5] - Total operating revenue for the first three quarters of 2025 reached ¥2,127,400,313.66, a 34.4% increase from ¥1,584,067,239.11 in the same period of 2024[21] - Operating profit for the first three quarters of 2025 was ¥115,192,369.02, compared to ¥82,846,856.31 in 2024, reflecting a growth of 39.0%[22] - Net profit attributable to shareholders of the parent company for the first three quarters of 2025 was ¥132,660,476.08, up from ¥111,987,354.93 in 2024, marking a 18.5% increase[22] - The comprehensive income total for the first three quarters of 2025 was ¥133,478,616.98, compared to ¥108,362,814.11 in 2024, reflecting a growth of 23.2%[22] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.29, compared to ¥0.24 in 2024, an increase of 20.8%[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,004,785,930.19, up 10.01% from the end of the previous year[5] - The total liabilities increased to ¥1,980,434,888.53 in 2025 from ¥1,560,544,682.99 in 2024, representing a growth of 27.0%[21] - The total equity attributable to shareholders of the parent company rose to ¥4,037,623,785.70 in 2025, compared to ¥3,908,013,008.67 in 2024, an increase of 3.3%[21] - Current liabilities totaled CNY 539,628,424.77 as of September 30, 2025, compared to CNY 551,046,191.60 at the end of 2024, indicating a reduction in short-term obligations[30] - The company's total equity increased marginally to CNY 3,742,323,968.61 as of September 30, 2025, from CNY 3,742,140,007.07 at the end of 2024, reflecting stable shareholder value[30] Cash Flow - The company's cash and cash equivalents amounted to ¥770,894,761.56 as of September 30, 2025, down from ¥2,065,942,144.70 at the end of 2024[15] - Cash inflow from operating activities for the first three quarters of 2025 was CNY 1,765,966,891.71, an increase from CNY 1,727,006,350.50 in the same period of 2024[25] - Net cash flow from operating activities was negative CNY 165,279,309.26 in 2025, compared to negative CNY 121,196,664.15 in 2024, indicating a decline in operational efficiency[25] - Total cash inflow from investment activities increased significantly to CNY 1,564,631,390.08 in 2025 from CNY 1,015,371,382.90 in 2024, reflecting a strong investment recovery[26] - Net cash flow from investment activities was negative CNY 241,367,458.32 in 2025, worsening from negative CNY 119,119,161.99 in 2024, suggesting increased capital expenditures[26] - Cash inflow from financing activities rose to CNY 611,855,000.00 in 2025, compared to CNY 302,960,622.89 in 2024, indicating improved financing conditions[26] - The net cash flow from financing activities was positive CNY 18,989,284.18 in 2025, a decrease from CNY 68,397,677.91 in 2024, showing reduced reliance on external financing[26] Research and Development - Research and development expenses totaled ¥120,127,573.61, accounting for 15.82% of operating revenue, a decrease of 4.42 percentage points year-on-year[5] - Research and development expenses for the first three quarters of 2025 were ¥318,871,386.39, up from ¥291,953,176.74 in 2024, indicating a 9.2% increase[21] - Research and development expenses increased to CNY 165.19 million, a rise of 1.0% from CNY 163.50 million in the previous year[32] Shareholder Information - The total number of ordinary shares at the end of the reporting period was 28,008,000[12] - The largest shareholder, Yao Yi, holds 200,237,818 shares, representing 43.44% of total shares[12] - The company held 6,061,847 shares in its repurchase account, accounting for 1.32% of total shares[13] - The company has no significant changes in the participation of major shareholders in margin trading or stock lending[14] Market Focus - The company is focusing on AI and intelligent manufacturing applications, which are expected to drive future growth and market expansion[10] - The company has made significant progress in product layout and market expansion, particularly in AI-driven communication and computing products[10]