Financial Performance - Q3 2025 revenue reached ¥280,926,367.08, an increase of 4.54% year-over-year[5] - Net profit attributable to shareholders was ¥9,299,970.16, up 28.17% compared to the same period last year[5] - Net profit attributable to shareholders after deducting non-recurring gains and losses increased by 133.61% to ¥6,658,650.69[5] - Total operating revenue for Q3 2025 reached ¥804,605,937.73, an increase of 2.3% compared to ¥784,897,417.12 in the same period last year[18] - Net profit for the period was ¥18,156,284.20, a decrease of 63.6% from ¥49,840,350.27 in the previous year[19] - The total comprehensive income attributable to the parent company was CNY 22,917,437.01, compared to CNY 52,884,143.43 in the previous period, reflecting a significant decrease[20] - The company reported a basic and diluted earnings per share of CNY 0.05, down from CNY 0.11 in the previous period[20] Assets and Liabilities - Total assets decreased by 3.70% to ¥2,052,287,618.04 compared to the end of the previous year[5] - The company's total assets decreased to ¥2,052,287,618.04 from ¥2,131,041,224.15, a decline of 3.7%[16] - Total liabilities decreased to ¥473,049,825.26, down from ¥579,722,471.12, representing a reduction of 18.3%[16] - The equity attributable to shareholders of the parent company increased to ¥1,492,277,550.75 from ¥1,468,060,184.14, a growth of 1.6%[16] Cash Flow - Cash flow from operating activities showed a net decrease of 89,664,075.99, reflecting a 47.08% increase in cash received from sales[5][8] - The net cash flow from operating activities was negative at CNY -89,664,075.99, an improvement from CNY -169,424,440.47 in the previous period[23] - Cash inflow from operating activities totaled CNY 844,192,613.03, slightly up from CNY 824,837,150.68 year-over-year[22] - The company’s cash and cash equivalents decreased to ¥308,753,502.72 from ¥667,378,911.44[14] - The company’s cash and cash equivalents decreased to ¥1,331,069,755.19 from ¥1,447,797,765.62, a decline of 8.0%[16] - The company experienced a net decrease in cash and cash equivalents of CNY -358,120,404.12, compared to CNY -470,096,373.18 in the previous period[23] Investments and Shareholder Information - The company reduced its stake in Shanghai Zhishang Creative Design Co., Ltd. by 31%, losing control and excluding it from consolidated financial statements[12] - The company made two new investments through its subsidiary, acquiring 12.5% of Wenzhou Cuiyi Mountain Catering Co., Ltd. and 50% of Wenzhou Qiuming Glasses Co., Ltd.[11] - The total number of common shareholders at the end of the reporting period is 16,216[9] - The largest shareholder, Chi Fangran, holds 13.73% of shares, totaling 69,282,566 shares[9] Expenses - Total operating costs increased to ¥756,409,190.02, up from ¥729,826,868.80, reflecting a rise of 3.4% year-over-year[18] - Research and development expenses for the quarter were ¥52,988,879.39, down from ¥56,817,427.72, a decrease of 6.3%[18] - The company reported a significant decrease in financial expenses, improving to -¥1,510,414.27 from -¥5,378,029.31[19] Other Financial Metrics - The basic earnings per share for the period was ¥0.0184, a slight increase of 0.25%[5] - The weighted average return on net assets was 0.62%, a decrease of 2.15% compared to the previous year[5] - The company’s deferred income tax assets increased to ¥45,321,682.93 from ¥42,296,984.65, an increase of 7.1%[16] Regulatory and Audit Information - The company completed the registration of amendments to its articles of association and various internal regulations in September 2025[11] - The company did not undergo an audit for the third quarter financial report[24]

呈和科技股份有限公司 2025 年第三季度报告 证券代码：688625 证券简称：呈和科技 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 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 一、主要财务数据 （一） 主要会计数据和财务指标 （二） 非经常性损益项目和金额 √适用 □不适用 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 | 说明 | | --- | --- | --- | --- | | | | 额 | | | 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 | | | | | 计入当期损益的政府补助，但与公司正 | | | | | 常经营业务密切相关、符合国家政策规 | 997,52 ...

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。 北京康辰药业股份有限公司 2025 年第三季度报告 证券代码：603590 证券简称：康辰药业 北京康辰药业股份有限公司 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 | 231,351,151.37 | -4.12 | 6 ...

Financial Performance - The company's operating revenue for Q3 2025 was CNY 72.93 million, a decrease of 88.51% compared to the same period last year, which reported CNY 623.54 million[3]. - The total profit for the quarter was a loss of CNY 12.70 million, compared to a loss of CNY 355.05 million in the same period last year, indicating a significant improvement[3]. - The net profit attributable to shareholders was a loss of CNY 14.02 million, compared to a loss of CNY 339.01 million in the previous year, showing a reduction in losses[3]. - The basic earnings per share for the quarter was -CNY 0.006, compared to -CNY 0.164 in the same period last year[4]. - Total revenue for the first three quarters of 2025 was CNY 221,491,241.05, a significant decrease from CNY 3,461,595,882.09 in the same period of 2024, representing a decline of approximately 93.6%[18]. - Operating profit for the first three quarters of 2025 was a loss of CNY 32,328,038.81, compared to a loss of CNY 634,714,977.39 in the same period of 2024, showing an improvement in loss margin[18]. - The net profit for the first three quarters of 2025 was -36,501,235.84 RMB, a significant improvement compared to -664,135,078.87 RMB in the same period of 2024, indicating a reduction in losses[19]. - The total comprehensive income for the first three quarters of 2025 was -36,501,235.84 RMB, compared to -664,135,078.87 RMB in 2024, reflecting a substantial reduction in overall losses[19]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,741.01 million, a decrease of 17.18% from the previous year[4]. - The total assets as of September 30, 2025, were CNY 1,741,011,660.24, down from CNY 2,102,129,133.07 at the end of 2024, reflecting a decrease of approximately 17.2%[16]. - Current assets totaled CNY 494,284,298.89 as of September 30, 2025, compared to CNY 883,485,425.01 at the end of 2024, a decline of about 44%[16]. - Total liabilities decreased to CNY 1,108,127,242.50 as of September 30, 2025, from CNY 1,432,743,479.49 at the end of 2024, representing a reduction of approximately 22.6%[17]. - The total liabilities increased significantly from CNY 372,570,999.49 to CNY 56,236,210.52, indicating a reduction of about 84.9%[25]. - The company’s total equity attributable to shareholders was CNY 632,884,417.74 as of September 30, 2025, down from CNY 669,385,653.58 at the end of 2024, reflecting a decrease of about 5.5%[17]. - The total equity decreased from CNY 270,772,533.58 as of December 31, 2024, to CNY 243,188,481.72 as of September 30, 2025, a decline of about 10.2%[27]. Cash Flow - The cash flow from operating activities was CNY 941.94 million, a significant improvement from -CNY 165.34 million in the previous year[4]. - The net cash flow from operating activities for the first three quarters of 2025 was 9,419,432.98 RMB, contrasting with a negative cash flow of -1,645,572,544.92 RMB in 2024, showing a positive turnaround[22]. - The company’s cash flow from operating activities was significantly impacted by a decrease in cash received from sales, which was 202,159,820.73 RMB in 2025 compared to 1,684,437,783.72 RMB in 2024[22]. - The cash and cash equivalents at the end of September 2025 were CNY 41,959,758.19, down from CNY 148,450,737.85 at the beginning of the period, reflecting a decrease of approximately 71.7%[32]. - Total cash and cash equivalents at the end of September 2025 were 149,577,129.13 RMB, down from 679,932,215.70 RMB at the end of 2024, reflecting a decrease in liquidity[23]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 39,342[10]. - Beijing Huayuan Group Co., Ltd. holds 47.39% of the shares, amounting to 1,111,769,408 shares, with 220,000,000 shares pledged[10]. - The company plans to increase its shareholding by investing between RMB 35 million and RMB 65.69 million over the next 24 months, having already acquired 23,184,600 shares, representing 0.99% of the total share capital[11]. Operational Highlights - The hotel occupancy rate reached 86% in the third quarter, with July achieving a record high of 94.4%[14]. - The hotel received multiple awards, including recognition from the China Hotel Association for its culinary excellence[14]. - The company managed over 1.2 million square meters of property, with non-residential properties accounting for more than half of the portfolio[12]. - The company is focusing on talent acquisition and training to support its business expansion and service capability enhancement[12]. Other Financial Metrics - The company reported non-recurring gains and losses amounting to CNY 615.12 million for the current period[8]. - The company received government subsidies totaling CNY 15,000 for the current period, contributing to its financial performance[8]. - The company reported cash inflows from investment activities of 1,929,850,904.00 RMB in 2025, compared to only 1,522,318.92 RMB in 2024, indicating a strong performance in investment recovery[22]. - The total cash outflow from financing activities in the first three quarters of 2025 was 1,195,259,979.42 RMB, significantly lower than 11,801,789,438.55 RMB in 2024, suggesting a reduction in financing costs[23]. - The company reported a significant increase in management expenses, rising from CNY 3,999,550.52 in 2024 to CNY 13,459,408.97 in 2025, an increase of approximately 236%[29]. - Financial expenses surged to CNY 20,013,839.95 in 2025, compared to a negative CNY -10,705,106.06 in 2024, indicating a substantial increase in interest costs[29]. Accounting Changes - The new accounting standards or interpretations will be implemented starting from 2025, affecting the financial statements from the beginning of that year[33].

Revenue and Profit - Q3 2025 revenue was CNY 1,150,412,424.54, a decrease of 3.84% year-over-year, while year-to-date revenue decreased by 15.70% to CNY 3,266,516,454.83[4] - Net profit attributable to shareholders for Q3 2025 was CNY 20,469,016.70, an increase of 165.89% year-over-year, with year-to-date net profit increasing by 157.68% to CNY 72,531,352.12[4] - Basic earnings per share for Q3 2025 was CNY 0.0339, up 165.95% year-over-year, and year-to-date earnings per share was CNY 0.1200, an increase of 157.69%[4] - Total operating revenue decreased to ¥3,266,516,454.83 from ¥3,875,031,108.86, representing a decline of approximately 15.7% year-over-year[17] - Net profit for the period was ¥72,248,418.23, a significant recovery from a net loss of ¥245,963,011.74 in the previous period[18] - Basic and diluted earnings per share improved to ¥0.1200 from a loss of ¥0.2080 per share in the prior year[18] Assets and Liabilities - Total assets at the end of Q3 2025 were CNY 5,153,593,176.07, a decrease of 0.60% compared to the end of the previous year[4] - Total liabilities decreased to ¥3,727,910,938.49 from ¥3,840,049,214.28, a decrease of approximately 2.9%[16] - The company's total equity attributable to shareholders increased to ¥1,428,556,626.28 from ¥1,347,117,720.01, an increase of approximately 6.5%[16] - As of September 30, 2025, total current assets amount to RMB 3,009,069,734.70, an increase from RMB 2,974,444,899.43 at the beginning of the period[14] - The company's long-term equity investments increased to RMB 338,887,618.21 from RMB 205,514,065.94[14] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 392,306,883.00 year-to-date, a significant decline of 971.61%[4] - Net cash flow from operating activities was negative at -392,306,883.00, a significant decline compared to a positive cash flow of 45,009,322.73 in the previous period[21] - Total cash inflow from operating activities was 2,068,262,925.05, while cash outflow was 2,460,569,808.05, resulting in a net cash outflow of 392,306,883.00[21] - Cash inflow from investment activities totaled 175,020,320.00, with a net cash flow of 85,888,316.57, contrasting with a net outflow of -75,402,994.18 in the previous period[21] - Cash inflow from financing activities was 876,726,865.87, leading to a net cash flow of 444,616,182.11, compared to a net outflow of -65,610,252.22 previously[21] - The total cash and cash equivalents at the end of the period increased to 217,616,185.53 from 143,151,412.79[21] Expenses and Costs - Total operating costs decreased to ¥3,113,100,436.89 from ¥4,125,364,185.64, a reduction of about 24.5% year-over-year[17] - Management expenses decreased by 43.17% year-over-year, primarily due to the exclusion of the former subsidiary Meta from the consolidated financial statements[8] - Research and development expenses decreased to ¥133,582,954.87 from ¥185,290,772.33, a reduction of about 28% year-over-year[17] - The company reported a decrease in cash paid for purchasing goods and services, totaling 1,592,235,131.80, down from 2,080,172,491.65[21] - Cash paid to employees was 615,636,885.99, a slight decrease from 677,675,720.90 in the previous period[21] - Cash paid for taxes was 96,407,242.67, down from 116,112,058.53, indicating a reduction in tax liabilities[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 75,253[10] - The largest shareholder, Shenzhen Desheng Asset Management Co., Ltd., holds 3.60% of shares, totaling 21,744,933 shares[10] - The total number of shares held by the top 10 shareholders includes significant stakes from both domestic and foreign entities[11] - The company has a total of 21,744,933 unrestricted shares held by its largest shareholder, which is significant for liquidity considerations[11] Equity Transfers and Investments - The company completed the transfer of 42% equity in Liuzhou Shuangfei for RMB 39,855.87 million, with the first payment of RMB 16,400 million received in March 2023[12] - The company has a remaining equity transfer payment of RMB 124,558,737.29 yet to be collected[13] - The company has ongoing efforts to recover the remaining equity transfer payments and will fulfill disclosure obligations[13] - Long-term equity investments increased by 64.90% year-to-date, amounting to an increase of CNY 133,373,600, attributed to debt restructuring of receivables[7] Other Financial Information - Investment income decreased by 79.77% year-over-year, reflecting a decline in net profits from associated enterprises[8] - Other comprehensive income after tax attributable to the parent company was ¥8,907,554.15, compared to ¥5,210,738.54 in the previous period[18] - The financial report for the third quarter was not audited, which may affect the reliability of the reported figures[23]

Financial Performance - The company's operating revenue for Q3 2025 was CNY 832,000,458.48, representing a year-on-year increase of 7.59%[3] - The total profit for the quarter was CNY 10,682,006.43, showing a significant increase of 29.26% compared to the same period last year[3] - The net profit attributable to shareholders was CNY 7,244,924.26, which is a slight increase of 1.61% year-on-year[3] - Total operating revenue for the first three quarters of 2025 reached ¥2,343,600,270.81, an increase of 5.65% compared to ¥2,210,327,438.64 in the same period of 2024[15] - Operating profit decreased to ¥33,804,160.71, down 6.8% from ¥38,101,359.03 year-on-year[16] - Net profit for the first three quarters of 2025 was ¥35,346,474.04, a decline of 5.3% from ¥37,337,028.95 in 2024[16] - Total comprehensive income for the first three quarters of 2025 was ¥37,902,474.04, down from ¥62,258,028.95 in 2024[18] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.0181, slightly down from ¥0.0187 in the previous year[18] Assets and Liabilities - The total assets at the end of the reporting period reached CNY 10,006,679,257.45, reflecting a growth of 4.52% from the end of the previous year[4] - The company's current assets totaled RMB 4,997,975,011.38, up from RMB 4,552,106,838.06, indicating an increase of about 9.8% year-over-year[12] - The total liabilities reached RMB 5,694,105,056.66, compared to RMB 5,291,393,260.50 in the previous period, reflecting an increase of approximately 7.6%[13] - Short-term borrowings rose significantly to RMB 1,423,736,501.10 from RMB 995,862,339.52, marking an increase of about 42.9%[13] - The company's non-current liabilities slightly decreased to RMB 2,887,070,384.26 from RMB 2,895,053,975.26, a reduction of approximately 0.3%[13] - The total current liabilities increased to RMB 2,807,034,672.40 from RMB 2,396,339,285.24, representing a rise of about 17.1%[13] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 106,925[8] - The largest shareholder, Gansu Agricultural Reclamation Group Co., Ltd., holds 19.08% of the shares, totaling 371,390,521 shares[8] - The total equity attributable to shareholders increased to RMB 4,314,344,461.95 from RMB 4,284,360,265.23, reflecting a growth of about 0.7%[14] Cash Flow and Investments - The cash flow from operating activities showed a negative figure of CNY -84,533,467.53 for the year-to-date[3] - Cash flow from operating activities showed a net outflow of ¥84,533,467.53, an improvement from a net outflow of ¥96,814,981.90 in the same period last year[20] - Cash and cash equivalents at the end of the period were ¥421,939,306.81, compared to ¥366,647,980.11 at the end of the same period in 2024[21] - Investment activities resulted in a net cash outflow of ¥199,977,830.82, compared to a net outflow of ¥218,812,739.96 in the same period last year[21] - Financing activities generated a net cash inflow of ¥238,300,819.70, a significant increase from ¥34,553,573.69 in the previous year[21] Research and Development - Research and development expenses increased significantly to ¥38,036,630.98, up 51.7% from ¥25,056,999.79 in the previous year[15]

Financial Performance - The company's revenue for Q3 2025 was ¥399,710,035.16, a decrease of 5.75% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2025 was ¥16,019,099.58, an increase of 36.26% year-on-year[5] - The basic earnings per share for Q3 2025 was ¥0.3353, reflecting a growth of 36.30% compared to the previous year[5] - The company reported a 48.22% increase in net profit after deducting non-recurring gains and losses, totaling ¥15,696,372.63 for Q3 2025[5] - Total operating revenue for the current period is CNY 1,147,454,819.81, a decrease from CNY 1,182,509,581.67 in the previous period[34] - Net profit for the current period is CNY 32,082,775.00, compared to CNY 18,319,185.57 in the previous period, reflecting a significant increase of 75.4%[36] - Earnings per share (EPS) for the current period is CNY 0.7875, up from CNY 0.5500 in the previous period, showing improved profitability[37] Assets and Liabilities - The total assets as of September 30, 2025, were ¥1,945,403,408.77, down 4.77% from the end of the previous year[6] - The company's total liabilities decreased by 35.62% due to repayment of bank debts during the reporting period[10] - Total liabilities amount to CNY 1,096,410,948.47, a decrease from CNY 1,197,563,931.93 in the previous period, indicating a reduction in financial leverage[33] - Non-current liabilities total CNY 494,202,916.34, slightly down from CNY 497,205,526.29 in the previous period[33] - The company's total equity stands at CNY 848,992,460.30, a marginal increase from CNY 845,205,159.34 in the previous period[33] Cash Flow - Cash flow from operating activities for the year-to-date was ¥13,930,360.37, a significant increase of 219.49%[5] - Operating cash flow for the current period is ¥13,930,360.37, a significant improvement from a net outflow of ¥11,658,219.58 in the previous period[39] - Cash inflow from investment activities increased to ¥162,512,372.39, compared to ¥115,647,021.23 in the prior period, driven by higher cash recovered from investments[39] - Net cash flow from financing activities showed a deficit of ¥78,066,665.75, contrasting with a positive inflow of ¥70,697,759.24 in the previous period[40] - The total cash and cash equivalents at the end of the period amounted to ¥156,372,626.27, up from ¥72,122,819.25 in the previous year[40] Shareholder Information - The total number of common shareholders at the end of the reporting period is 8,231[15] - The largest shareholder, Hao Yuanzeng, holds 24.24% of the shares, totaling 11,587,668 shares[15] - The top ten shareholders include several related parties, indicating a close-knit control structure[16] - The company has a significant number of restricted shares, with major shareholders having a total of 8,797,500 shares under lock-up[18] - The company has a clear plan for the release of restricted shares, with a schedule for annual unlocks based on shareholding[18] Convertible Bonds - The company plans to issue 2,500,000 convertible bonds with a total fundraising amount of RMB 250,000,000[20] - The convertible bonds, named "Sailong Convertible Bonds," will be listed on the Shenzhen Stock Exchange starting July 29, 2024[20] - As of September 30, 2025, a total of RMB 517,500 of "Sailong Convertible Bonds" has been converted into 14,067 shares, accounting for 0.0294% of the company's total issued common shares[21] - The first interest payment for the "Sailong Convertible Bonds" is scheduled for July 8, 2025, with a coupon rate of 0.30%[22] - The company decided not to exercise the early redemption rights for the "Sailong Convertible Bonds" despite meeting the conditions for redemption, with the stock price exceeding 130% of the conversion price for 15 out of 30 trading days[23] - The initial conversion price of the "Sailong Convertible Bonds" was adjusted from 36.81 CNY/share to 36.40 CNY/share, and subsequently to 36.20 CNY/share after the implementation of the 2025 semi-annual equity distribution plan[24] Expenses and Investments - The company’s investment income dropped by 74.21% to ¥138,680.12, primarily due to reduced financial investment returns[12] - The company’s income tax expense surged by 309.36% to ¥4,562,353.61, driven by increased profits during the reporting period[12] - The company reported a decrease in research and development expenses to CNY 37,717,865.34 from CNY 38,342,972.77, suggesting a potential shift in R&D focus[35] - The company’s financial expenses increased to CNY 16,168,585.10 from CNY 14,022,485.65, reflecting higher interest costs[35] - Cash inflow from investment income rose to ¥2,387,729.99, compared to ¥409,749.63 in the previous period, reflecting better investment performance[39]

Financial Performance - The company's operating revenue for Q3 2025 was ¥86,934,322.44, a decrease of 33.88% compared to the same period last year[5]. - The net profit attributable to shareholders was ¥6,241,514.07, down 80.21% year-on-year, while the net profit excluding non-recurring gains and losses was ¥6,062,462.49, a decrease of 73.99%[5]. - Basic and diluted earnings per share were both ¥0.04, reflecting a decline of 78.95% year-on-year[5]. - The net profit attributable to shareholders for the year-to-date period was -¥15,154,034.99, a significant decrease of 1,341.59% compared to the same period last year[5]. - Net profit for the period was a loss of ¥15,154,034.99 compared to a profit of ¥1,220,533.03 in the previous period, representing a significant downturn[19]. - Basic and diluted earnings per share were both -¥0.09, compared to ¥0.0031 in the previous period[20]. - Other income decreased to ¥13,688,675.97 from ¥21,387,568.41, a decline of about 36.1% year-over-year[18]. Cash Flow and Assets - The cash flow from operating activities showed a net outflow of ¥12,351,189.99, an increase of 72.90% compared to the previous year[5]. - Cash flow from operating activities showed a net outflow of ¥12,351,189.99, an improvement from a net outflow of ¥45,583,906.05 in the previous period[20]. - Cash flow from investing activities resulted in a net outflow of ¥18,544,417.89, compared to a net inflow of ¥105,813,142.82 in the previous period[21]. - Cash and cash equivalents decreased from ¥473,217,235.45 to ¥351,240,585.12, a decline of approximately 25.7%[16]. - Cash and cash equivalents at the end of the period decreased to ¥343,578,056.87 from ¥432,345,906.57, a decline of approximately 20.5%[21]. - Current assets decreased from ¥1,365,054,852.86 to ¥1,236,362,185.07, representing a reduction of about 9.4%[16]. - The company's accounts receivable decreased from ¥100,912,657.90 to ¥77,195,032.46, a drop of around 23.6%[16]. Liabilities and Equity - Total liabilities decreased from ¥377,047,962.74 to ¥329,219,910.69, a reduction of about 12.7%[17]. - The company's equity decreased from ¥551,828,676.86 to ¥542,049,516.86, reflecting a decline of approximately 1.3%[17]. - The company reported a significant reduction in employee compensation payable from ¥38,545,001.28 to ¥13,210,330.45, a decrease of about 65.7%[17]. - The company’s total liabilities and equity decreased to ¥1,536,612,186.87 from ¥1,680,251,873.91, a reduction of approximately 8.5%[18]. Market and Industry Context - The decline in revenue and profit was primarily attributed to the downturn in the construction industry and increased market competition, leading to significant reductions in main business income[8]. - The company received government subsidies amounting to ¥730,973.35 during the reporting period, contributing to its financial performance[6]. - The company is focusing on expanding its market presence and developing new technologies, although specific figures were not disclosed in the call[15]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 13,269[10]. - There were no changes reported in the top 10 shareholders' participation in margin financing and securities lending activities[11]. - The company has a total of 1,568,000 restricted shares that were repurchased and canceled, as part of the 2021 restricted stock incentive plan[13]. Accounting and Reporting - The third quarter financial report of Zhukang Design Co., Ltd. has not been audited[22]. - The new accounting standards will be implemented starting from 2025[22]. - The financial statement adjustments related to the first year of the new accounting standards will be applicable from the beginning of the year[22]. - The board of directors announced the financial report on October 30, 2025[22].

Revenue and Profitability - Revenue for Q3 2025 reached ¥63,311,338.32, an increase of 8.40% year-over-year, while year-to-date revenue decreased by 0.45% to ¥203,307,961.10[5] - Net profit attributable to shareholders was -¥9,953,339.49, a decline of 72.91% compared to the same period last year, with a year-to-date net profit of -¥72,494,648.59, down 18.19%[5] - The basic and diluted earnings per share for Q3 2025 were both -¥0.0143, reflecting a decrease of 72.91% year-over-year[5] - Total operating revenue for the current period is ¥203,307,961.10, a decrease of 0.45% from ¥204,226,702.45 in the previous period[16] - Net profit for the current period is -¥72,630,380.24, compared to -¥61,371,013.14 in the previous period, indicating a worsening of 18.5%[17] - Basic and diluted earnings per share are both -¥0.1040, down from -¥0.0880 in the previous period[18] Assets and Liabilities - Total assets at the end of Q3 2025 amounted to ¥2,455,218,476.17, a decrease of 0.74% from the end of the previous year[5] - The company’s total equity attributable to shareholders decreased by 4.08% to ¥1,701,595,814.15 compared to the end of the previous year[5] - The total liabilities increased, with short-term borrowings rising to ¥216,904,289.02 from ¥174,397,803.60, an increase of about 24.3%[14] - Total liabilities increased to ¥753,282,889.49 from ¥698,989,981.68, marking an increase of 7.8%[15] - Non-current liabilities rose to ¥84,469,112.29 from ¥69,607,128.85, an increase of 21.3%[15] Cash Flow - Cash flow from operating activities showed a net outflow of -¥18,703,050.52, an improvement of 36.79% compared to the previous year[9] - Cash flow from operating activities decreased to ¥209,823,421.36 from ¥242,826,588.75, a decline of 13.6%[19] - The net cash flow from operating activities was -$18.70 million, an improvement from -$29.59 million in the previous period[20] - Cash inflow from investment activities totaled $576.11 million, significantly up from $20.56 million year-over-year[20] - The net cash flow from financing activities increased to $57.04 million, compared to $23.00 million in the prior period[20] - The cash flow from operating activities was impacted by a total outflow of $251.72 million, compared to $292.97 million previously[20] Investment and Expenses - The company reported a significant increase in cash received from investment activities, totaling ¥575,044,154.68, a staggering increase of 2736.12% year-over-year[9] - The company’s financial expenses rose by 35.74% to ¥5,181,382.82, primarily due to increased bank interest payments[9] - The company recorded an asset impairment loss of -¥24,482,455.32, a dramatic increase of 570.55% compared to the previous year, attributed to new inventory impairment provisions[9] - Research and development expenses were ¥53,814,177.21, down from ¥58,039,212.30, a decrease of 7.7%[17] Shareholder Information - The total number of common shareholders at the end of the reporting period is 77,385, with no preferred shareholders having restored voting rights[11] - The largest shareholder, Zhuhai Gree Financial Investment Management Co., Ltd., holds 15.20% of shares, totaling 105,904,291 shares[11] - The company has a total of 46,055,395 restricted shares held by the shareholder Yan Jun, which are subject to lock-up regulations[13] - The company has not disclosed any related party relationships or concerted actions among the top shareholders[11] Inventory and Other Assets - The company reported an increase in inventory to ¥256,618,104.63 from ¥236,808,652.24, which is an increase of about 8.4%[14] - The total non-current assets decreased to ¥1,369,095,941.94 from ¥1,432,597,481.37, a decline of approximately 4.4%[14] - Accounts receivable rose to ¥552,697,926.67 from ¥525,609,875.16, indicating an increase of about 5.1%[14] - The total assets decreased to ¥2,455,218,476.17 from ¥2,473,450,165.72, reflecting a decline of approximately 0.7%[14] Government Subsidies and Other Income - The company received government subsidies amounting to ¥1,711,750.09 during the reporting period, contributing to non-recurring gains[6] - Other comprehensive income after tax for the current period is ¥105,782.88, compared to ¥66,302.27 in the previous period, an increase of 59.7%[18]

Financial Performance - The company's revenue for the third quarter reached ¥283,568,260.52, an increase of 11.24% compared to the same period last year[3] - The total profit for the quarter was ¥17,554,394.66, reflecting a growth of 31.26% year-over-year[3] - Net profit attributable to shareholders was ¥15,799,522.14, marking a significant increase of 60.68% compared to the previous year[3] - The net profit after deducting non-recurring gains and losses for the quarter was ¥14,375,468.91, up 99.60% year-over-year[3] - The total profit for the year-to-date period increased by 250.80% to ¥152,218,584.53[3] - The company reported a year-to-date net profit attributable to shareholders of ¥124,147,683.04, up 267.14% compared to the previous year[3] - Basic earnings per share for the quarter were ¥0.12, a 50.00% increase compared to the same period last year[4] - Basic earnings per share for the first three quarters of 2025 were ¥1.01, compared to ¥0.27 in 2024, indicating improved profitability on a per-share basis[21] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥2,835,153,014.26, a decrease of 7.83% from the end of the previous year[4] - The company's current assets decreased from CNY 2,423,178,921.95 on December 31, 2024, to CNY 2,110,029,200.55 on September 30, 2025, a decline of approximately 12.91%[15] - Inventory decreased from CNY 982,623,063.52 to CNY 760,485,180.97, a reduction of about 22.6%[15] - The total liabilities decreased from CNY 1,681,424,695.45 to CNY 1,648,915,059.04, a decline of approximately 1.93%[15] - Total liabilities decreased to ¥1,725,158,357.07 in 2025 from ¥2,080,671,071.56 in 2024, showing a reduction in financial leverage[19] - The company's total equity increased to ¥1,109,994,657.20 in 2025 from ¥995,181,469.00 in 2024, reflecting a growth of approximately 11.5%[19] Research and Development - Research and development expenses totaled ¥17,458,548.59 for the quarter, representing 6.16% of revenue, an increase of 0.96 percentage points[4] - Research and development expenses increased to ¥56,937,577.30 in 2025 from ¥37,048,065.75 in 2024, indicating a focus on innovation and product development[20] Cash Flow - The company reported a net cash flow from operating activities of -¥16,782,577.88 for the first three quarters of 2025, an improvement from -¥240,812,349.11 in the same period of 2024[25] - The company generated cash inflows from operating activities totaling ¥1,381,142,768.12 in 2025, compared to ¥906,628,106.31 in 2024, representing a 52% increase[25] - Net cash flow from investing activities was -$107.65 million, a decrease from -$336.70 million year-over-year[26] - Total cash inflow from financing activities amounted to $616.80 million, compared to $890.10 million in the previous period[26] - Cash outflow for financing activities totaled $499.08 million, slightly up from $472.63 million year-over-year[26] - The net cash flow from financing activities was $117.72 million, down from $417.47 million in the previous period[26] - The ending balance of cash and cash equivalents was $166.20 million, a decrease from $282.79 million year-over-year[26] - Cash and cash equivalents decreased by $6.59 million during the period, compared to a decrease of $159.70 million in the previous period[26] - Cash inflow from loans received was $572.85 million, down from $667.08 million year-over-year[26] - Cash paid for debt repayment was $453.65 million, an increase from $394.99 million in the previous period[26] - Cash received from other financing activities was $33.28 million, compared to $221.52 million in the previous period[26] - The impact of exchange rate changes on cash and cash equivalents was $118.38 thousand, down from $344.39 thousand year-over-year[26] Shareholder Information - The total number of ordinary shares at the end of the reporting period is 4,404[11] - The largest shareholder, Wang Yong, holds 21,482,430 shares, representing 17.29% of total shares[11] - The company has no significant changes in the shareholder structure or any new strategies reported during the conference call[13] Year-to-Date Performance - Total operating revenue for the first three quarters of 2025 reached ¥1,469,518,484.03, a significant increase of 91% compared to ¥768,846,275.47 in the same period of 2024[19] - Operating profit for the first three quarters of 2025 was ¥151,606,646.51, compared to ¥43,430,934.64 in 2024, reflecting a growth of 248%[20] - Net profit attributable to shareholders for the first three quarters of 2025 was ¥124,147,683.04, up from ¥33,815,154.50 in 2024, marking a 267% increase[21]