Financial Performance - Q3 2025 revenue was CNY 2,429,968,512.58, a decrease of 31.14% year-over-year[5] - Net profit attributable to shareholders was CNY 131,329,946.31, down 40.46% compared to the same period last year[5] - Basic earnings per share decreased by 40.40% to CNY 0.0916[5] - Total operating revenue for the period was RMB 9,174,930,488.96, a decrease of 27.5% compared to RMB 12,602,509,709.26 in the previous period[17] - The company's net profit for the current period is CNY 579,661,144.31, a decrease of 13.2% compared to CNY 667,768,977.86 in the previous period[18] - Operating profit for the current period is CNY 754,532,030.43, down 11.9% from CNY 856,387,517.32 in the previous period[18] - Total revenue from operating activities is CNY 10,409,759,136.62, a decrease from CNY 10,643,305,633.62 in the previous period[19] - The company reported a net profit margin of approximately 8.7% for the period, down from 10.0% in the previous period[17] Assets and Liabilities - Total assets at the end of the reporting period were CNY 25,833,064,823.35, a decline of 5.97% from the previous year[5] - Total assets decreased to RMB 25,833,064,823.35 from RMB 27,473,904,977.09, a decline of 6.0%[16] - Total liabilities decreased to RMB 17,059,530,550.59 from RMB 18,815,899,381.68, a reduction of 9.3%[16] - The company's equity attributable to shareholders increased to RMB 8,448,481,820.02 from RMB 8,335,161,383.51, an increase of 1.4%[16] Cash Flow - The company reported a net cash flow from operating activities of CNY -1,211,225,236.89, an increase of 69.60% year-to-date[5] - The net cash flow from operating activities is -CNY 1,211,225,236.89, an improvement from -CNY 3,984,755,637.49 in the previous period[19] - Cash and cash equivalents at the end of the period were RMB 8,059,032,780.01, a decrease of 19.7% from RMB 10,048,775,120.77 at the beginning of the period[14] - Cash and cash equivalents at the end of the period amount to CNY 7,083,180,167.31, compared to CNY 3,510,442,267.01 at the end of the previous period[20] - The company experienced a net cash outflow from financing activities of -CNY 705,997,648.24, worsening from -CNY 527,515,165.22 in the previous period[20] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 54,276[11] - The largest shareholder, China Steel Capital Holdings Co., Ltd., holds 48.65% of the shares[11] Operating Costs and Expenses - Total operating costs amounted to RMB 8,373,516,083.63, down 28.5% from RMB 11,733,817,205.54 in the prior period[17] - Research and development expenses increased to CNY 225,435,037.74 from CNY 213,853,837.80, reflecting a growth of 5.5%[18] - The company reported a decrease in financial expenses, with interest expenses at CNY 34,155,088.65, down from CNY 40,866,215.08[18] Inventory and Receivables - Accounts receivable decreased to RMB 3,192,581,780.78 from RMB 3,825,479,332.53, reflecting a reduction of 16.5%[14] - Inventory increased to RMB 1,362,428,205.28, up 50.8% from RMB 903,301,622.49[15] Business Strategy - The company is optimizing its business structure and cautiously undertaking domestic projects, contributing to the revenue decline[9] Non-Recurring Items - Non-recurring gains and losses totaled CNY 3,055,158.90 for the current period[7]

Financial Performance - The company's revenue for Q3 2025 reached ¥354,930,330.20, representing a year-over-year increase of 5.52%[4] - Net profit attributable to shareholders was ¥118,442,731.64, up 53.29% compared to the same period last year[4] - The basic earnings per share increased by 52.94% to ¥0.52, while diluted earnings per share also rose by 52.94% to ¥0.52[4] - Total operating revenue for the current period reached ¥1,105,384,066.31, an increase of 8.3% compared to ¥1,018,612,074.75 in the previous period[21] - Net profit for the current period was ¥290,851,741.28, representing a growth of 25.2% from ¥232,143,668.80 in the previous period[22] - Basic and diluted earnings per share both stood at ¥1.27, compared to ¥1.01 in the previous period[23] - The company reported a total comprehensive income of ¥298,239,597.55, an increase from ¥240,889,466.24 in the previous period[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,181,452,413.38, reflecting a 3.43% increase from the end of the previous year[4] - The company's equity attributable to shareholders increased by 11.15% to ¥1,838,829,372.86 compared to the end of the previous year[4] - The total liabilities decreased to CNY 330,701,739.39 from CNY 443,815,953.36, a reduction of approximately 25.5%[19] - Total liabilities decreased to ¥342,623,040.52 from ¥454,780,632.82, indicating a reduction of approximately 24.6%[20] - The company's accounts payable decreased significantly from CNY 290,065,702.15 to CNY 225,494,109.39, a decline of about 22.3%[19] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥145,814,061.00, down 35.94% from the previous year[11] - Cash flow from operating activities generated a net amount of ¥145,814,061.00, down from ¥227,606,954.51 in the previous period[24] - The net cash flow from investing activities was -$174.54 million, compared to -$105.17 million in the previous period, indicating a decline of approximately 65.8%[25] - The net cash flow from financing activities was -$113.80 million, compared to -$68.28 million, reflecting a decrease of approximately 66.7%[25] - The total cash and cash equivalents at the end of the period were $473.46 million, down from $555.49 million, a decrease of about 14.8%[25] Investment and Income - The company reported a significant increase in investment income of 424.79%, amounting to ¥17,684,493.10, driven by higher returns from stock and fund investments[10] - Investment income rose significantly to ¥17,684,493.10 from ¥3,369,794.14, marking a substantial increase[21] - The company confirmed a fair value change loss of CNY 31,415.83 million related to trust financial products, indicating potential investment risks[14] - The company reported a fair value change gain of CNY 3,724.02 million for the current reporting period, subject to fluctuations in stock price[15] Shareholder Information - The company had a total of 17,923 common shareholders at the end of the reporting period, with the largest shareholder holding 39.38% of the shares[12] Changes in Accounting and Reporting - The company’s third-quarter financial report was not audited, which may affect the reliability of the reported figures[26] - The company is set to implement new accounting standards starting in 2025, which may impact future financial reporting[27] Other Financial Metrics - Management expenses rose by 43.08% to ¥26,532,913.85, primarily due to increased management costs at the subsidiary in Thailand[10] - The company's cash and cash equivalents decreased to CNY 476,337,903.22 from CNY 623,442,517.57, reflecting a decline of approximately 23.6%[17] - The total current assets increased slightly to CNY 1,297,290,232.67 from CNY 1,282,347,630.55, indicating a growth of about 1.2%[17] - The company's long-term equity investments decreased to CNY 21,089,341.08 from CNY 22,749,315.32, representing a decline of approximately 7.3%[19] - The total non-current assets increased to CNY 884,162,180.71 from CNY 826,817,802.58, showing an increase of about 6.9%[19] - Other comprehensive income after tax amounted to ¥7,387,856.27, compared to ¥8,745,797.44 in the previous period[22]

Financial Performance - The company's revenue for Q3 2025 reached ¥1,663,465,382.85, representing a year-over-year increase of 27.67%[6] - Net profit attributable to shareholders decreased by 29.58% to ¥18,559,745.65, while the net profit after deducting non-recurring gains and losses fell by 48.40% to ¥12,196,699.77[6] - The company reported a basic earnings per share of ¥0.0226, down 29.60% from the same period last year[6] - Total operating revenue for the current period reached ¥4,527,371,248.68, an increase of 18.7% compared to ¥3,810,609,892.40 in the previous period[17] - Net profit for the current period was ¥63,651,728.27, a decrease of 41.8% from ¥109,398,515.14 in the previous period[18] - Basic earnings per share decreased to ¥0.0778 from ¥0.1332, a decline of 41.7%[19] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥6,533,959,171.37, an increase of 11.93% compared to the end of the previous year[6] - Total current assets increased to ¥4,120,461,599.78 from ¥3,499,863,704.57, representing a growth of approximately 17.7%[14] - Total assets increased to ¥6,533,959,171.37 from ¥5,837,511,910.69, reflecting an increase of about 11.9%[14] - Total liabilities decreased from ¥1,857,282,108.72 to ¥1,639,454,908.92, a reduction of about 11.7%[14] - Total liabilities reached ¥4,798,460,181.92, up from ¥4,182,993,519.74, indicating a growth of 14.7%[15] - Total non-current liabilities increased to ¥3,159,005,273.00 from ¥2,325,711,411.02, representing a rise of 35.7%[15] Cash Flow - Cash flow from operating activities showed a net outflow of ¥-304,407,429.76, a decrease of 46.18% compared to the previous year[9] - Cash inflow from operating activities was ¥3,954,609,219.33, slightly up from ¥3,925,098,855.58[21] - Net cash flow from operating activities was negative at -$304.41 million, compared to -$208.24 million in the previous period, indicating a decline in operational efficiency[22] - Cash inflow from financing activities increased significantly to $3.17 billion, compared to $1.04 billion, driven by higher borrowings[22] - Net cash flow from financing activities was positive at $784.51 million, up from $480.21 million, indicating improved liquidity management[22] - The ending cash and cash equivalents balance rose to $277.26 million, compared to $88.02 million in the previous period, showing a strong cash position[22] Shareholder Information - Total number of common shareholders at the end of the reporting period is 56,846[11] - The largest shareholder, Shen Jiansheng, holds 17.91% of shares, totaling 147,197,621 shares[11] - The top three shareholders hold a combined total of 38.37% of the shares, indicating a concentrated ownership structure[11] - The company has no preferred shareholders or related changes in the number of preferred shareholders[12] Expenses and Costs - Research and development expenses increased by 38.28% to ¥193,011,350.13, indicating a focus on new projects[9] - The company experienced a 20.35% increase in operating costs, totaling ¥4,104,399,090.24, in line with revenue growth[9] - Total operating costs amounted to ¥4,491,935,774.68, up from ¥3,693,623,913.97, reflecting a growth of 21.6%[17] - Cash paid to employees increased to $174.73 million from $143.04 million, reflecting higher labor costs[22] - Cash paid for taxes rose to $72.50 million from $58.57 million, indicating increased tax obligations[22] - Cash paid for interest, fees, and commissions increased, impacting overall cash flow negatively[22] Government Support - The company received government subsidies amounting to ¥8,337,735.19 during the reporting period, contributing to its financial performance[7] Inventory and Receivables - Inventory increased to ¥1,842,657,424.00 from ¥1,589,766,741.62, showing an increase of approximately 15.8%[13] - The company has a total of 1,154,505,158.33 in accounts receivable, up from 1,029,737,320.33, indicating an increase of about 12.1%[13]

Financial Performance - The company's revenue for Q3 2025 reached ¥1,344,882,058.78, representing a 71.37% increase year-over-year[6] - Net profit attributable to shareholders was ¥508,051,801.97, up 104.69% compared to the same period last year[6] - The basic earnings per share (EPS) was ¥0.5562, reflecting a 105.77% increase year-over-year[6] - Total operating revenue for the current period reached ¥3,866,785,481.67, a significant increase of 55.7% compared to ¥2,482,559,437.56 in the previous period[21] - Operating profit for the current period was ¥1,666,051,175.40, up from ¥559,270,821.39, reflecting a growth of 197.5%[22] - Net profit attributable to the parent company was ¥1,362,929,905.46, compared to ¥518,198,612.46 in the previous period, marking an increase of 162.5%[22] - Basic earnings per share increased to ¥1.4920 from ¥0.5642, showing a growth of 164.5%[22] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥19,380,123,596.43, a 6.65% increase from the end of the previous year[6] - Total assets increased to ¥19,380,123,596.43 from ¥18,171,645,091.13, representing a growth of 6.6%[21] - Total liabilities rose to ¥6,319,617,106.69, up from ¥4,690,582,693.04, indicating a 34.7% increase[21] - Long-term equity investments rose by 41.10% to ¥167,658,239.55, driven by increased earnings from joint ventures[11] Cash Flow - The company reported a significant increase in operating cash flow, with a net amount of ¥1,405,617,117.83, up 96.68% from the previous year[11] - Operating cash flow for the current period reached ¥1,405,617,117.83, a significant increase of 96.6% compared to ¥714,682,045.71 in the previous period[23] - Total cash inflow from operating activities amounted to ¥4,110,286,964.05, up from ¥2,812,317,356.54, reflecting a growth of 46%[23] - Cash outflow from investing activities was ¥1,398,375,171.65, a decrease of 16% from ¥1,662,513,789.67 in the previous period[23] - Net cash flow from financing activities was ¥44,470,664.28, a decline of 95% compared to ¥896,023,739.40 in the previous period[24] - The ending balance of cash and cash equivalents increased to ¥1,007,148,390.00, up from ¥700,123,874.55, representing a growth of 43.8%[24] Shareholder Information - Total number of common shareholders at the end of the reporting period is 22,729[13] - The largest shareholder, Huineng Holdings Group, holds 14.05% of shares, totaling 129,851,837 shares[13] - The company holds 10,544,029 shares in its repurchase account, representing 1.14% of the total share capital[14] - The company has not disclosed any significant changes in the top 10 shareholders due to margin trading activities[14] Production and Sales - The company reported a production volume of 1,498,600 tons and sales volume of 1,524,300 tons for potassium chloride in the first three quarters[15] - The increase in revenue was primarily driven by higher sales volume and prices of potassium fertilizers[11] Expenses - The company experienced a 370.31% rise in income tax expenses, totaling ¥302,575,744.58, attributed to increased profits[11] - The company reported a 208.82% increase in financial expenses, totaling ¥65,295,833.78, mainly due to higher interest expenses[11] - Research and development expenses for the current period were ¥12,892,885.82, compared to ¥10,450,803.05, reflecting a growth of 23.4%[22] Other Financial Information - Investment income surged to ¥44,802,495.28, marking a 1176.41% increase due to higher earnings from joint ventures[11] - Deferred tax assets decreased slightly from ¥219,335,936.90 to ¥207,003,854.38, a decline of 5.5%[21] - The company received tax refunds amounting to ¥103,223,831.14, a slight increase from ¥96,401,402.17 in the previous period[23] - The financial report for the third quarter was not audited[25]

Financial Performance - The company's operating revenue for the third quarter reached ¥507,783,947.99, representing a year-on-year increase of 62.62%[3] - The total profit for the third quarter was ¥56,801,335.09, reflecting a significant growth of 145.27% compared to the same period last year[3] - The net profit attributable to shareholders for the third quarter was ¥52,387,107.51, an increase of 97.12% year-on-year[3] - The net profit after deducting non-recurring gains and losses for the third quarter was ¥50,767,379.54, up 109.98% from the previous year[3] - Total operating revenue for the first three quarters of 2025 reached ¥1,130,907,994.01, a 35.8% increase from ¥833,500,870.10 in the same period of 2024[18] - Net profit for the first three quarters of 2025 was ¥93,749,721.25, representing a 47.5% increase compared to ¥63,542,046.99 in 2024[19] - Basic earnings per share for the first three quarters of 2025 were ¥0.92, compared to ¥0.62 in the same period of 2024[20] - The company reported a net profit of ¥43,908,468.21 for the current period, slightly up from ¥43,006,781.88 in the previous year, reflecting a growth of 2.1%[28] Cash Flow and Liquidity - The company's cash flow from operating activities for the third quarter was ¥12,394,430.11, a decrease of 85.57% compared to the same period last year[3] - Cash inflow from operating activities for the first three quarters of 2025 was ¥868,807,043.88, an increase from ¥711,783,931.79 in 2024[21] - The net cash flow from operating activities was ¥13,931,671.03, down 45.6% from ¥25,714,717.78 in the previous year[22] - Cash and cash equivalents at the end of the period were ¥155,620,834.42, a decrease from ¥187,245,393.80 in the previous year[22] - The company reported a decrease in cash flow from financing activities, with a net outflow of ¥36,307,040.72 compared to a net outflow of ¥44,533,887.32 in the previous year[30] Research and Development - Research and development expenses totaled ¥32,532,268.02 for the third quarter, accounting for 6.41% of operating revenue, down 2.81 percentage points year-on-year[4] - Research and development expenses for the first three quarters of 2025 totaled ¥96,900,164.76, up from ¥83,242,553.19 in 2024, indicating a focus on innovation[18] - Research and development expenses for the first three quarters of 2025 were ¥77,429,151.13, up 16.4% from ¥66,497,010.38 in the same period of 2024[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,311,007,994.32, an increase of 18.40% from the end of the previous year[4] - The company's current assets totaled RMB 1,766,241,402.40, compared to RMB 1,468,800,257.35 in the previous period, indicating an increase of about 20.3%[13] - The total liabilities increased to ¥1,084,097,375.97 in 2025 from ¥783,191,676.41 in 2024, reflecting a growth in financial obligations[14] - The company's total liabilities were not explicitly stated, but accounts payable increased to RMB 419,764,203.84 from RMB 291,135,974.44, reflecting a growth of about 43.9%[13] - The total assets as of September 30, 2025, amounted to ¥2,084,427,132.30, an increase from ¥1,875,815,784.51 at the end of 2024[25] Business Expansion and Strategy - The company is actively expanding its business in the fields of robotics and smart logistics, with revenue growth observed across various sectors including automotive, e-commerce, and pharmaceuticals[8] - The company reported a significant increase in its profit margins due to the rapid growth of its business scale and the effectiveness of its operational strategies[8] - The company has not provided any specific future guidance or market expansion strategies in the current report[12] Other Financial Metrics - The return on equity (ROE) increased to 4.32%, up by 1.92 percentage points compared to the previous year[4] - The company reported a decrease in credit impairment losses to -¥17,466,661.38 in 2025 from -¥27,591,722.23 in 2024, indicating improved asset quality[19] - The company received tax refunds amounting to ¥22,805,194.64 in the first three quarters of 2025, slightly down from ¥23,871,377.70 in 2024[21] - The company received cash inflow from investment recovery amounting to ¥1,755,000,000.00, a significant increase from ¥383,000,000.00 in the previous year[30]

Financial Performance - The company's operating revenue for the third quarter was ¥785,150,322.82, a decrease of 12.09% compared to the same period last year[5]. - The total profit for the quarter was ¥171,456.31, down 99.62% year-on-year, while the profit for the year-to-date period decreased by 85.30% to ¥15,906,216.85[5][10]. - The net profit attributable to shareholders was a loss of ¥2,731,270.85 for the quarter, representing a decline of 108.25% compared to the previous year[5][11]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥17,489,891.11, a decrease of 196.84% year-on-year[5][11]. - The basic earnings per share for the quarter was -¥0.0072, down 108.27% from the same period last year[6][11]. - Total operating revenue for the first three quarters of 2025 was CNY 2,209,969,855, a decrease of 10.7% compared to CNY 2,475,148,940.72 in the same period of 2024[20]. - Operating profit for the first three quarters of 2025 was CNY 10,140,809.35, significantly lower than CNY 108,994,611.14 in 2024, indicating a decline of 90.7%[21]. - Net profit for the first three quarters of 2025 was CNY 7,977,134.14, compared to CNY 85,684,082.70 in 2024, representing a decrease of 90.7%[21]. - Earnings per share for the first three quarters of 2025 was CNY 0.0400, down from CNY 0.2448 in the same period of 2024[22]. - The total comprehensive income for the first three quarters of 2025 was CNY 7,944,908.66, down from CNY 85,684,082.70 in 2024[22]. Assets and Liabilities - The total assets at the end of the reporting period were ¥5,121,507,671.11, a decrease of 7.48% compared to the end of the previous year[6]. - Total assets as of September 30, 2025, amounted to RMB 5,121,507,671.11, a decrease from RMB 5,535,670,035.12 as of December 31, 2024, reflecting a decline of approximately 7.5%[17]. - Current assets totaled RMB 2,431,978,153.36, down from RMB 2,955,783,587.74, indicating a decrease of about 17.7%[17]. - Total liabilities as of September 30, 2025, were RMB 1,128,032,451.45, down from RMB 1,482,229,824.43, indicating a decrease of about 23.8%[18]. - Total liabilities as of the end of the reporting period were CNY 1,277,305,967.05, a decrease from CNY 1,643,802,204.23 in the previous year[19]. - Total equity attributable to shareholders was CNY 3,753,720,729.36, slightly down from CNY 3,782,147,050.91 in the previous year[19]. Cash Flow - The cash flow from operating activities for the year-to-date period was ¥138,595,187.92, down 33.40% year-on-year[6][10]. - Operating cash flow from operating activities was net positive at ¥138,595,187.92, down from ¥208,097,163.89 year-over-year, indicating a decrease of approximately 33.4%[25]. - Cash inflow from investment activities totaled ¥746,005,807.51, compared to ¥869,698,915.98 in the previous period, reflecting a decline of about 14.2%[26]. - Net cash flow from financing activities was negative at -¥128,448,110.39, slightly worse than the previous year's -¥119,657,059.15, indicating a deterioration of around 2.6%[26]. - The total cash and cash equivalents at the end of the period decreased to ¥193,792,490.20 from ¥550,624,734.78, representing a significant drop of approximately 64.8%[26]. - Cash inflow from sales of goods and services was ¥2,320,931,728.60, down from ¥2,524,598,825.16, marking a decrease of about 8.1%[25]. - Total cash outflow from operating activities was ¥2,293,118,774.45, compared to ¥2,414,573,676.80 in the previous year, showing a reduction of approximately 5.0%[25]. - Cash inflow from the recovery of investments was ¥718,230,299.86, down from ¥833,919,914.20, indicating a decline of around 13.8%[26]. - Cash outflow for the purchase of fixed assets and intangible assets was ¥18,122,091.77, compared to ¥24,897,912.35, reflecting a decrease of approximately 27.1%[26]. - The company reported a cash inflow from financing activities of ¥10,150,000.00, a significant drop from ¥53,076,001.00 in the previous year, representing a decline of about 80.9%[26]. Market Conditions and Strategic Plans - The company reported a significant decline in gross profit and revenue due to adverse domestic and international market conditions[10][11]. - The company plans to address the challenges posed by the market environment through strategic adjustments and potential new product developments[10]. - The company has no significant new strategies or product developments mentioned in the conference call[15]. Shareholder Information - The company reported no changes in the top 10 shareholders or their holdings due to margin trading activities[14].

上海畅联国际物流股份有限公司 2025 年第三季度报告 证券代码：603648 证券简称：畅联股份 上海畅联国际物流股份有限公司 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。 公司负责人徐峰、主管会计工作负责人种永及会计机构负责人（会计主管人员）杜丽芳保证季度 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 | 397,898,230.97 ...

Financial Performance - The company's operating revenue for the third quarter was ¥1,144,841,080.80, representing a decrease of 3.50% compared to the same period last year[4]. - The total profit for the quarter was -¥91,721,929.22, a decline of 3,711.98% year-on-year[4]. - The net profit attributable to shareholders was -¥95,446,335.23, with a year-to-date decline of 311.53%[4]. - Basic earnings per share for the quarter were -¥0.093, reflecting a decrease of 313.46% year-to-date[5]. - Net profit for the first three quarters of 2025 was a loss of CNY 112,032,671.99, compared to a profit of CNY 67,539,270.30 in the same period of 2024, reflecting a significant decline in profitability[21]. - The company reported an operating profit of CNY -92,280,216.92 for the first three quarters of 2025, a stark contrast to the operating profit of CNY 96,022,735.81 in 2024[21]. - The basic earnings per share for the first three quarters of 2025 was CNY -0.111, compared to CNY 0.052 in the same period of 2024, reflecting a negative shift in earnings performance[22]. Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥7,247,455.27, down 98.01% compared to the previous year[4]. - Cash flow from operating activities for the first three quarters of 2025 was CNY 3,568,570,129.05, down from CNY 3,770,826,239.19 in 2024, indicating a decrease in cash generation[23]. - The net cash flow from operating activities was $7,247,455.27, a significant decrease from $364,136,019.66 in the previous period[24]. - Total cash inflow from operating activities amounted to $4,097,551,617.17, compared to $3,925,284,727.72 last year, reflecting a year-over-year increase of approximately 4.3%[24]. - Cash outflow from operating activities totaled $4,090,304,161.90, up from $3,561,148,708.06, indicating a rise of about 14.9%[24]. Assets and Liabilities - Total assets at the end of the reporting period were ¥10,632,282,341.26, a decrease of 1.27% from the end of the previous year[5]. - The company's total liabilities as of the latest reporting period were CNY 7,587,097,362.71, compared to CNY 7,517,386,563.45 in the previous period, showing a slight increase in leverage[17]. - The total equity attributable to shareholders decreased to CNY 2,910,230,272.86 from CNY 3,118,579,589.11, indicating a decline in shareholder value[17]. - The company’s long-term borrowings increased to CNY 2,270,218,562.29 from CNY 1,917,205,069.84, suggesting a strategy to finance operations through debt[17]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 13,405[11]. - The top 10 shareholders hold a total of 674,000,000 shares, representing 64.56% of the total share capital[12]. - The largest shareholder, Ye Jiyue, holds 374,549,972 shares, accounting for 36.32% of the total shares[11]. - The company has not reported any significant changes in shareholder relationships or actions during the reporting period[12]. Inventory and Receivables - Accounts receivable increased significantly to ¥926,009,443.71 from ¥1,074,093,317.30 year-over-year[14]. - Inventory as of September 30, 2025, is reported at ¥596,671,376.63, up from ¥551,211,816.61[15]. Investment Performance - The company reported investment income of CNY 58,608,455.08 for the first three quarters of 2025, a significant recovery from a loss of CNY 724,369.80 in 2024, indicating improved investment performance[21]. Future Outlook - The company plans to implement new accounting standards starting in 2025, which may affect the financial statements[26].

Financial Performance - The company's operating revenue for the third quarter reached ¥209,444,972.10, representing a year-on-year increase of 64.72%[4] - Total profit for the quarter was ¥52,161,167.66, reflecting a significant increase of 195.73% compared to the same period last year[4] - Net profit attributable to shareholders was ¥46,241,216.49, up 168.36% year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥45,693,982.98, an increase of 183.77% compared to the previous year[4] - Basic earnings per share for the quarter were ¥0.26, an increase of 160.00% year-on-year[5] - Total operating revenue for the first three quarters of 2025 reached ¥670,574,789.61, a 28.3% increase from ¥523,103,700.66 in the same period of 2024[19] - Net profit for the first three quarters of 2025 was ¥173,070,909.11, representing a 52.4% increase compared to ¥113,661,569.36 in 2024[20] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.98, up from ¥0.65 in the same period of 2024[21] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥3,071,422,036.97, a 5.17% increase from the end of the previous year[5] - As of September 30, 2025, the company's total assets reached CNY 3,071,422,036.97, an increase from CNY 2,920,528,436.51 as of December 31, 2024, reflecting a growth of approximately 5.16%[15] - The company reported a total liability of ¥224,812,011.82, an increase from ¥186,684,050.15 year-over-year[17] - The company's cash and cash equivalents amounted to CNY 414,878,956.16, up from CNY 253,585,972.28, representing a significant increase of 63.5%[15] - Accounts receivable increased to CNY 218,098,554.78 from CNY 200,645,251.84, showing a growth of about 8.68%[15] - Inventory decreased to CNY 279,554,497.61 from CNY 343,731,087.09, indicating a reduction of approximately 18.7%[15] - The company's fixed assets rose to CNY 844,320,317.83 from CNY 720,998,590.73, marking an increase of around 17.1%[16] - The total liabilities of the company were not explicitly stated, but current liabilities included accounts payable of CNY 99,959,589.93, which increased from CNY 86,188,038.76, reflecting a growth of about 15.9%[16] Cash Flow - The company reported a significant increase in cash flow from operating activities, with a net cash flow of ¥292,001,375.26, up 211.91% year-to-date[4] - Cash flow from operating activities generated a net amount of ¥292,001,375.26, significantly higher than ¥93,617,823.87 in the previous year[22] - Investment activities generated a net cash flow of ¥33,154,224.52, a significant improvement from a net outflow of ¥72,096,609.22 in the previous period[23] - Total cash inflow from investment activities was ¥1,276,968,426.28, compared to ¥736,725,416.99 last year, indicating a growth of approximately 73.3%[23] - Cash outflow for investments was ¥1,243,814,201.76, up from ¥808,822,026.21, reflecting an increase of about 53.8%[23] - Cash flow from financing activities resulted in a net outflow of ¥61,097,177.91, worsening from a net outflow of ¥41,526,552.80 in the previous year[23] - Cash and cash equivalents at the end of the period totaled ¥413,898,505.51, an increase from ¥248,366,896.71 year-over-year[23] Research and Development - Research and development expenses totaled ¥11,019,901.04, a decrease of 20.82% compared to the same period last year, accounting for 5.26% of operating revenue[5] - Research and development expenses for the first three quarters of 2025 were ¥34,455,047.30, slightly down from ¥34,948,804.07 in 2024[19] Shareholder Information - The company reported a total of 48,032,019 shares held by the largest shareholder, indicating a significant concentration of ownership[13] - The repurchase account held 3,079,019 shares, accounting for 1.75% of the total share capital, indicating active management of share buybacks[13] Financial Strategy - The company has not engaged in any financing or securities lending activities as of the reporting period, maintaining a conservative financial strategy[14] - The company’s long-term equity investments stood at CNY 24,439,844.71, slightly increasing from CNY 24,253,601.41, reflecting stable investment performance[16] - The impact of exchange rate changes on cash and cash equivalents was a negative ¥2,690,231.45, compared to a negative impact of ¥350,896.11 last year[23] - The company will not apply new accounting standards starting from 2025[24]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥263,157,994, representing a 22.63% increase compared to ¥214,593,500 in the same period last year[6]. - Net profit attributable to shareholders for Q3 2025 was ¥10,958,830, marking an 11.93% increase from ¥9,791,033 in Q3 2024[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥9,446,663, a 2.39% increase from ¥9,225,812 in the previous year[6]. - The basic earnings per share for Q3 2025 was ¥0.10, an 11.11% decrease from ¥0.12 in Q3 2024[6]. - The company's operating revenue for the first nine months of 2025 reached ¥770,446,852.77, representing a 33.82% increase compared to ¥575,718,809.09 in the same period of 2024[12]. - Net profit for the current period was ¥120,208,173.22, representing a significant increase of 168.5% compared to ¥44,707,775.48 in the previous period[26]. - Basic and diluted earnings per share were both ¥1.08, compared to ¥0.40 in the prior period, indicating a substantial improvement[27]. Assets and Liabilities - The total assets as of September 30, 2025, were ¥2,476,602,672.28, reflecting a 17.66% increase from ¥2,104,809,521.16 at the end of the previous year[6]. - The total equity attributable to shareholders increased by 7.64% to ¥1,753,857,505.25 compared to ¥1,629,325,478.07 at the end of the previous year[6]. - The company's total liabilities increased to CNY 1,210,344,653.34 from CNY 1,001,298,349.55, indicating a growth of about 20.9%[22]. - Total liabilities increased to ¥714,646,443.75, up 54% from ¥464,676,468.36 year-over-year[24]. Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥16,816,950, a 43.02% increase compared to ¥11,758,110 in the same period last year[6]. - The company's net cash flow from operating activities increased by 43.02% to ¥16,816,952.90 in 2025, driven by higher sales and improved collection of customer payments[12]. - Cash inflow from operating activities was ¥836,934,071.00, compared to ¥697,922,217.05 in the previous period, reflecting a growth of 20%[28]. - The company's net cash flow from investing activities was negative at -$47,971,977.40, an improvement from -$193,163,675.38 in the previous period[29]. Investments and Expenses - Financial expenses surged by 3,787.76% to ¥22,111,230.81 in 2025, attributed to exchange rate losses and increased interest expenses from bank loans[12]. - The company's investment income rose significantly by 3,430.06% to ¥45,906,072.84, mainly due to gains from the disposal of subsidiary equity[12]. - Research and development expenses were ¥29,901,995.03, up 11.5% from ¥26,798,761.24, indicating continued investment in innovation[26]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 9,409, with the largest shareholder holding 40.05% of the shares[14]. - The company repurchased 872,900 shares through its repurchase account, accounting for 0.77% of the total share capital as of September 30, 2025[16]. - The company plans to grant 553,000 shares of restricted stock at a price of CNY 25.04 per share as part of its 2025 incentive plan[20]. - The total number of restricted shares at the end of the period was 47,197,186, with a significant increase of 13,507,185 shares during the current period[17]. Operational Metrics - Operating costs increased by 31.99% to ¥548,589,039.03 in 2025 from ¥415,627,096.43 in 2024, primarily due to increased sales volume and product shipments[12]. - The company's gross profit margin improved, with operating profit increasing by 142.70% to ¥121,575,604.77, driven by higher revenue and scale effects[12]. - The company experienced a significant increase in receivables, with notes receivable rising by 1,508.92% to ¥1,050,010.56 due to an increase in bank acceptance bills received from customers[11]. - The company experienced a 65.98% increase in cash and cash equivalents, totaling ¥350,911,619.08, primarily due to increased bank borrowings during the reporting period[11].