Financial Performance - The company's operating revenue for Q3 2025 reached ¥2,355,726,035.98, representing a year-on-year increase of 6.85%[5] - Net profit attributable to shareholders was ¥789,477,466.40, up 13.09% compared to the same period last year[5] - The basic earnings per share (EPS) increased to ¥0.2648, reflecting a growth of 12.97% year-on-year[5] - Total operating revenue for the current period reached ¥6,547,780,277.56, an increase of 5.4% compared to ¥6,212,609,988.95 in the previous period[21] - Net profit for the current period was ¥1,812,316,757.85, representing a growth of 8.5% from ¥1,669,231,972.77 in the prior period[22] - Total comprehensive income reached ¥1,812,316,757.85, an increase from ¥1,669,231,972.77 in the previous period, representing a growth of approximately 8.5%[23] - Basic earnings per share increased to ¥0.5918 from ¥0.5461, reflecting a rise of about 8.5%[23] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥49,370,674,255.93, a 1.90% increase from the end of the previous year[5] - The company's total assets increased to ¥49,370,674,255.93, compared to ¥48,448,468,554.45, marking a growth of 1.9%[19] - Total liabilities decreased to ¥28,466,218,956.27 from ¥28,895,558,747.00, a reduction of 1.5%[19] - Long-term borrowings rose to ¥11,432,180,800.41, up from ¥9,406,114,335.13, indicating a significant increase of 21.5%[19] - The company reported a decrease in short-term borrowings to ¥20,013,611.11 from ¥40,023,022.22, a decline of 50%[19] - The total equity attributable to shareholders increased to ¥19,481,871,121.26 from ¥18,160,049,995.61, an increase of 7.3%[19] Cash Flow - Cash flow from operating activities for the year-to-date reached ¥2,399,067,521.56, reflecting an 11.74% increase compared to the previous year[5] - Net cash flow from operating activities was ¥2,399,067,521.56, up from ¥2,146,973,745.20, indicating an increase of approximately 11.7%[24] - Cash inflow from operating activities totaled ¥7,514,416,724.38, compared to ¥6,961,727,097.09 in the prior period, marking a growth of about 7.9%[24] - Net cash flow from investing activities was -¥2,469,888,924.88, an improvement from -¥3,417,893,878.75, showing a reduction in cash outflow of approximately 27.7%[25] - Cash flow from financing activities resulted in a net outflow of -¥132,470,250.65, compared to a net inflow of ¥1,866,136,416.50 in the previous period[25] - The ending balance of cash and cash equivalents decreased to ¥4,050,808,238.47 from ¥4,467,929,312.21, a decline of about 9.4%[25] Shareholder Information - The total number of common shareholders at the end of the reporting period was 67,711, with no preferred shareholders[14] - Chengdu Environmental Investment Group holds 42.21% of shares, making it the largest shareholder, followed by Three Gorges Capital Holding with 12.24%[14] Research and Development - Research and development expenses for the period were ¥24,526,343.64, an increase of 32.87% year-on-year, driven by projects related to water preparation and transportation[11] - Research and development expenses increased to ¥24,526,343.64, compared to ¥18,458,532.13, reflecting a growth of 32.9%[21] Other Financial Metrics - The company experienced a 53.97% increase in other income, totaling ¥10,161,304.12, primarily due to increased penalty income[11] - The company reported a significant increase in tax and additional fees, totaling ¥168,043,045.13, which is a 144.30% rise due to new water resource tax regulations[11] - Investment cash inflow totaled ¥219,575,072.29, an increase of ¥60,541,969.18 or 38.07% year-on-year, primarily due to the recovery of interest from PPP projects[12] - The net increase in cash and cash equivalents was -¥203,291,653.97, a decrease of ¥798,507,936.92 or -134.15% year-on-year, mainly due to cash flow from financing activities[12] Operational Developments - The company is currently in the commissioning phase of the Chengdu urban kitchen waste harmless treatment project (Phase III)[15] - Accounts receivable increased to ¥3,494,929,052.79 from ¥3,280,244,119.05, indicating a growth in receivables[17] - Inventory rose to ¥271,752,722.54 from ¥226,572,247.85, reflecting an increase in stock levels[17] - Contract assets increased to ¥720,941,756.97 from ¥644,863,136.11, showing growth in contractual agreements[17]

天津长荣科技集团股份有限公司 2025 年第三季度报告 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 证券代码：300195 证券简称：长荣股份 公告编号：2025-049 天津长荣科技集团股份有限公司 2025 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 3.第三季度财务会计报告是否经过审计 □是 否 1 天津长荣科技集团股份有限公司 2025 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末比上 年初至报告期末 | | | --- | --- | --- | --- | --- | | | | 增减 | 年同期增减 | | | 营业收入（元） | 403,948,178.23 | ...

京蓝科技股份有限公司 2025 年第三季度报告 证券代码：000711 证券简称：ST 京蓝 公告编号：2025-082 2025 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度财务会计报告是否经过审计 □是 否 1 京蓝科技股份有限公司 2025 年第三季度报告 一、主要财务数据 京蓝科技股份有限公司 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末比上 年初至报告期末 | | | --- | --- | --- | --- | --- | | | | 增减 | 年同期增减 | | | 营业收入（元） | 107,095,319.50 | 61.63% | 33 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥307,149,442.94, a decrease of 2.92% year-on-year[5]. - The net profit attributable to shareholders for Q3 2025 was ¥2,070,963.65, down 76.19% compared to the same period last year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥4,599,759.36, a decline of 16.33% year-on-year[5]. - The company reported a basic earnings per share of ¥0.01, down 83.33% year-on-year[5]. - Total operating revenue for the period was CNY 909,307,605.13, a decrease of 4.5% compared to CNY 947,298,514.26 in the previous period[21]. - The net profit for the current period is CNY 17,289,521.72, a decrease of 42.5% compared to CNY 29,934,502.10 in the previous period[22]. - The total comprehensive income for the current period is CNY 17,266,782.47, down from CNY 29,969,422.52 in the previous period, reflecting a decline of 42.6%[23]. - Basic and diluted earnings per share are both CNY 0.07, compared to CNY 0.15 in the previous period, indicating a 53.3% decrease[23]. - The company reported a total profit of CNY 24,541,998.21, down 35.6% from CNY 38,075,321.61 in the previous period[22]. Assets and Liabilities - The total assets at the end of Q3 2025 were ¥5,656,849,047.76, representing a decrease of 4.51% from the end of the previous year[5]. - Total assets decreased to CNY 5,656,849,047.76 from CNY 5,923,717,804.19, a decline of 4.5%[20]. - Total liabilities decreased to CNY 4,296,180,266.60 from CNY 4,546,325,257.23, a reduction of 5.5%[20]. - The company's total equity decreased to CNY 1,360,668,781.16 from CNY 1,377,392,546.96, a decline of 1.2%[20]. Cash Flow and Investments - Cash and cash equivalents increased by 33.82% to ¥242,885,514.90 due to the redemption of short-term deposits[11]. - Cash flow from operating activities for the current period is CNY 470,660,889.87, down from CNY 501,992,313.42 in the previous period, a decline of 6.3%[24]. - Cash flow from investing activities shows a net inflow of CNY 6,068,711.50, a significant improvement from a net outflow of CNY 221,421,285.39 in the previous period[24]. - Cash flow from financing activities resulted in a net outflow of CNY 424,244,237.35, compared to a net outflow of CNY 412,446,262.90 in the previous period, indicating a slight increase in outflow[24]. - The company reported a net cash flow from investing activities of ¥6,068,711.50, a 102.74% increase due to structural adjustments in financial management[12]. Operational Strategies - The decline in revenue and profit is attributed to intensified competition in the leasing industry and a decrease in rental prices due to increased supply and reduced demand[10]. - The company is actively disposing of low-yield projects and increasing investment in cultural and tourism projects to optimize revenue structure and ensure stable cash flow[5]. - The company is implementing strategies to enhance customer loyalty and user experience through advertising and community activities[10]. - The company is also pursuing a "light asset" operational model, which has resulted in a slowdown in the growth of leasing assets[6]. - The company plans to continue focusing on market expansion and new product development in the upcoming quarters[19]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 13,757[14]. - The top shareholder, Shanghai Zhongweizi Investment Management Co., Ltd., holds 31.51% of shares, totaling 47,622,185 shares[15]. - The company repurchased 5,995,605 shares, accounting for 3.97% of the total share capital[16]. Expenses and Income - Total operating costs increased to CNY 923,548,017.34, up from CNY 914,949,014.25, reflecting a rise of 1.3%[21]. - R&D expenses rose by 126.62% to ¥7,927,937.25, reflecting increased investment in smart management systems[11]. - Research and development expenses rose significantly to CNY 7,927,937.25, compared to CNY 3,498,328.83 in the previous period, marking an increase of 126.5%[21]. - Investment income surged by 1602.75% to ¥39,387,441.52, primarily from adjustments in financial management structure and recognition of prior investment dividends[11]. - The company incurred credit impairment losses of CNY -762,371.03, compared to CNY -4,050,841.94 in the previous period, indicating a significant reduction in losses[22]. - Accounts receivable increased by 47.43% to ¥66,434,030.62, attributed to extended payment terms for quality clients under financial pressure[11]. - Short-term borrowings decreased by 33.06% to ¥59,906,748.92, resulting from repayment of short-term loans[11]. - Other current assets decreased by 75.31% to ¥106,820,510.84, due to adjustments in financial management structure[11].

Financial Performance - The company's operating revenue for Q3 2025 was ¥42,926,291.01, a decrease of 61.94% compared to the same period last year[5] - The net profit attributable to shareholders was -¥5,998,882.11, representing a decline of 338.23% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥11,599,913.13, down 553.35% from the previous year[5] - The company's revenue for the first nine months of 2025 was ¥132,058,479.17, down 63.07% from ¥357,594,254.67 in the same period of 2024[9] - Total operating revenue for the current period was ¥132,058,479.17, a decrease of 63.0% compared to ¥357,594,254.67 in the previous period[27] - Net profit for the current period was a loss of ¥111,611,084.30, compared to a profit of ¥12,757,229.34 in the previous period[28] - The total comprehensive income for the period was -111,618,900.11, compared to 12,754,989.58 in the previous period[29] - Basic and diluted earnings per share were both -0.3868, a decrease from 0.0442 in the prior period[29] Assets and Liabilities - The total assets at the end of the reporting period were ¥745,623,845.56, a decrease of 16.09% from the end of the previous year[5] - The company's total liabilities decreased by 16.09% compared to the previous year, primarily due to a reduction in restricted cash[9] - Total assets decreased to ¥745,623,845.56 from ¥888,612,341.44, reflecting a decline of 16.1%[25] - Current assets totaled ¥467,203,027.49, down 22.3% from ¥601,626,446.57 at the beginning of the period[24] - Total liabilities decreased to ¥365,703,814.30 from ¥397,073,410.07, a decline of 7.9%[25] - The company's equity attributable to shareholders decreased to ¥379,920,031.26 from ¥491,538,931.37, a decrease of 22.7%[25] Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥7,712,530.18, down 83.88% compared to the same period last year[5] - Net cash flow from operating activities decreased by 83.88% to ¥7,712,530.18 compared to ¥47,854,060.90 in the same period last year[11] - Cash inflows from operating activities totaled 190,604,253.95, down from 338,010,746.38 in the previous period, representing a decline of approximately 43.7%[31] - The net cash flow from operating activities was 7,712,530.18, significantly lower than 47,854,060.90 in the prior period, indicating a decrease of about 83.9%[31] - Cash outflows for purchasing goods and services were 75,770,407.27, down from 146,130,423.64, a reduction of approximately 48.2%[31] - Cash inflows from financing activities were 71,980,000.00, compared to 83,700,000.00 in the previous period, reflecting a decrease of about 13.9%[31] - The net cash flow from financing activities was -16,221,649.23, worsening from -10,081,563.93 in the prior period[31] - The ending balance of cash and cash equivalents dropped by 71.03% to ¥13,630,551.20 from ¥47,046,806.59 in the prior year[11] - The ending balance of cash and cash equivalents was 13,630,551.20, down from 47,046,806.59, a decline of approximately 70.0%[31] - The company reported a cash inflow of 5,408,364.00 from investment activities, compared to 10,175,697.88 in the previous period, indicating a decrease of about 46.8%[31] - The company’s cash flow from investment activities was positive at 5,294,859.57, recovering from a negative cash flow of -5,951,337.52 in the prior period[31] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,921[13] - The largest shareholder, Shiliquan, holds 8.56% of shares, amounting to 24,707,628 shares, with 24,500,000 shares pledged[13] - The second-largest shareholder, Tan Yongliang, holds 6.18% of shares, totaling 17,827,507 shares[14] Legal Matters - The company has received a total of ¥185,980.34 from the enforcement of a property preservation application related to a contract dispute[15] - The total amount of securities fraud liability lawsuits against the company amounts to ¥2,584,568.28, with ¥1,125,709.79 already settled[21] - The company is involved in multiple arbitration cases, including disputes with Sichuan Jiutian, with no final results reported as of the disclosure date[19] Investment Income and Losses - The company reported a significant increase in investment income, which rose by 1795.21% to ¥4,553,183.79 compared to the previous year[10] - The company experienced a substantial increase in credit impairment losses, which rose by 749.11% to -¥69,183,788.08 due to provisions for bad debts[10]

Financial Performance - The company's operating revenue for the third quarter was CNY 6,550,642,652.55, a decrease of 19.83% compared to the same period last year[4] - The total profit for the third quarter was CNY 20,164,442.68, while the net profit attributable to shareholders was CNY 17,818,699.90, reflecting a decline of 45.20% and 40.34% respectively year-to-date[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses for the third quarter was CNY 24,706,582.78, down 71.02% year-on-year[4] - The basic and diluted earnings per share for the third quarter were CNY 0.0165, a decrease of 40.36% compared to the previous year[5] - Total operating revenue for the first three quarters of 2025 was CNY 16,014,268,703.33, a decrease of 29.2% compared to CNY 22,545,576,279.88 in the same period of 2024[19] - Net profit for the first three quarters of 2025 was CNY 77,980,160.06, a decline of 41.7% from CNY 133,743,232.41 in the same period of 2024[20] - Basic earnings per share for the first three quarters of 2025 were CNY 0.0693, down from CNY 0.1162 in the previous year, reflecting a decrease of 40.4%[21] - The total comprehensive income for the first three quarters of 2025 was CNY 33,948,833.71, a decrease of 64.7% from CNY 96,149,323.44 in the same period of 2024[21] Assets and Liabilities - The total assets at the end of the reporting period were CNY 30,854,176,419.24, a decrease of 1.19% from the end of the previous year[5] - The total current assets as of September 30, 2025, amount to RMB 17,373,720,521.19, a decrease from RMB 17,845,966,117.92 as of December 31, 2024[14] - The company's total liabilities amounted to CNY 22,922,174,931.56, slightly down from CNY 23,286,853,805.22 in the previous year[17] - The company's total liabilities include accounts payable of RMB 12,251,419,845.47, which increased from RMB 10,689,874,030.95[15] - Short-term borrowings decreased to RMB 2,769,331,751.47 from RMB 3,395,753,441.32, reflecting a reduction of about 18.4%[15] Shareholder Information - The equity attributable to shareholders at the end of the reporting period was CNY 7,881,833,047.08, a slight decrease of 0.08% compared to the previous year[5] - The total equity attributable to shareholders was CNY 7,881,833,047.08, compared to CNY 7,888,493,976.49 in the previous year, indicating a marginal decrease[17] - The company has a total of 28,992 common shareholders at the end of the reporting period[11] - The largest shareholder, Zhengzhou Ruimao Supply Chain Co., Ltd., holds 51.02% of the shares, with 424,400,000 shares pledged[12] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 42,206,673.53, indicating a reduction in cash outflows for purchases and services[5] - In the first three quarters of 2025, the cash inflow from operating activities was CNY 16,244,628,166.24, a decrease of 21.5% compared to CNY 20,639,581,196.21 in the same period of 2024[23] - The net cash flow from operating activities for the first three quarters of 2025 was CNY 42,206,673.53, a significant improvement from a net outflow of CNY 364,095,392.22 in the first three quarters of 2024[24] - Cash inflow from financing activities in the first three quarters of 2025 was CNY 5,840,566,217.17, down 32.5% from CNY 8,674,587,843.08 in the same period of 2024[24] - The net cash flow from financing activities for the first three quarters of 2025 was a negative CNY 247,968,558.71, compared to a positive CNY 291,241,703.78 in the first three quarters of 2024[24] Other Financial Metrics - The company reported a significant decline in gross profit margin, which contributed to the decrease in total profit year-to-date[10] - The company incurred financial expenses of CNY 291,821,926.72, an increase from CNY 209,527,264.17 in the same period of 2024, representing a rise of 39.1%[19] - The company reported an investment income of CNY 172,443,334.43 for the first three quarters of 2025, a significant improvement from a loss of CNY 86,390,292.87 in the same period of 2024[20] - Other comprehensive income after tax for the first three quarters of 2025 was CNY -44,031,326.35, compared to CNY -37,593,908.97 in the previous year[21] - Cash outflow from investing activities in the first three quarters of 2025 was CNY 278,130,461.91, down from CNY 815,777,234.81 in the same period of 2024, indicating a reduction of 65.9%[24]

Financial Performance - The company's operating revenue for Q3 2025 was ¥570,264,173.79, representing a year-on-year increase of 4.99% and a year-to-date increase of 12.90%[5] - The net profit attributable to shareholders was -¥11,044,813.57, a decrease of 58.64% compared to the same period last year, with a year-to-date decrease of 17.61%[5] - The basic earnings per share for the period was -¥0.0509, reflecting a 58.65% decrease year-on-year[5] - Total operating revenue for the current period reached ¥1,588,920,035.13, an increase of 12.9% compared to ¥1,407,414,577.08 in the previous period[19] - The company reported a net loss of ¥75,517,874.59 for the current period, compared to a net loss of ¥85,797,672.95 in the previous period, indicating an improvement of approximately 12.5%[20] - The company reported a total comprehensive loss of ¥66,400,686.19, compared to a loss of ¥86,325,065.95 in the previous period, showing a reduction of approximately 23%[20] - Basic earnings per share improved to -0.3123 from -0.3793, indicating a positive trend in earnings performance[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,771,567,692.11, an increase of 8.37% from the end of the previous year[5] - Current assets totaled ¥1,890,846,680.64, up 5.9% from ¥1,784,824,466.78 at the start of the period[17] - Non-current assets totaled ¥880,721,011.47, an increase of 14.0% from ¥772,712,848.40 at the beginning of the period[17] - Total liabilities increased to ¥1,276,841,102.97, up 27.2% from ¥1,003,667,948.62 in the previous period[17] - The equity attributable to the parent company decreased to ¥1,483,246,263.51 from ¥1,544,314,932.07, a decline of 3.9%[18] Cash Flow - The company's cash flow from operating activities showed a net outflow of -¥272,968,061.40, a decline of 101.65% compared to the previous year[5] - The net cash flow from operating activities was negative at ¥272,968,061.40, worsening from a negative cash flow of ¥135,367,208.09 in the previous period[21] - The company’s investment activities resulted in a net cash outflow of ¥107,412,249.54, a significant decline from a net inflow of ¥42,711,756.82 in the previous period[21] - The company raised ¥640,539,930.00 through borrowings, compared to ¥307,000,000.00 in the previous period, marking an increase of about 108%[22] Expenses - Total operating costs amounted to ¥1,691,969,747.07, up 16.5% from ¥1,452,486,027.91 in the prior period[19] - The company incurred total operating expenses of ¥1,974,299,952.63, which is an increase from ¥1,592,297,564.09, representing a rise of approximately 24%[21] - Research and development expenses increased to ¥116,610,854.12, reflecting a rise of 9.7% from ¥106,457,138.05 year-over-year[19] - The company experienced a 42.76% increase in selling expenses, totaling ¥73,250,101.79, driven by investments in the information technology sector[9] Shareholder Information - The total number of common shareholders at the end of the reporting period is 51,653[11] - The largest shareholder, Nanjing Chengmai Technology Development Group Co., Ltd., holds 26.56% of shares, totaling 57,639,069 shares[11] - The top ten shareholders include Nanjing Taize Investment Management Center with a 3.46% stake, totaling 7,508,870 shares[11] - The company has a total of 60,766 restricted shares held by executives, which will be unlocked at a rate of 25% each year[13] - The company has not identified any related party relationships or concerted actions among its top shareholders[12] Corporate Changes - The company plans to change its name from "Chengmai Technology (Nanjing) Co., Ltd." to "Chengmai Technology Co., Ltd." and increase its total share capital from 166,932,109 shares to 216,981,741 shares[14] - The company has completed the registration of the above changes with the Nanjing Market Supervision Administration[14] - The company has no preferred shareholders or changes in restricted shares during the reporting period[13] Inventory and Investment - The company reported a significant increase in inventory, which rose by 47.98% to ¥339,650,653.95, attributed to undelivered projects and increased stock in the information technology sector[8] - Investment income for the period was ¥8,170,008.51, a significant improvement compared to a loss of -¥60,876,779.67 in the previous year[9] - The company reported an investment income of ¥8,170,008.51, a significant recovery from a loss of ¥60,876,779.67 in the previous period[19] - The company is expanding its business scope to include sales and maintenance of industrial robots and human resources services[14]

Financial Performance - The company's operating revenue for the third quarter was ¥283,648,072.55, a decrease of 20.40% compared to the same period last year[3] - The total profit for the third quarter was ¥4,252,183.25, down 40.26% year-on-year[3] - The net profit attributable to shareholders was ¥3,210,333.37, an increase of 119.79% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥2,365,671.04, with a year-to-date decrease of 333.76%[3] - Total operating revenue for the first three quarters of 2025 was CNY 808,947,397.12, a decrease of 19.4% compared to CNY 1,003,390,053.09 in the same period of 2024[19] - Net profit for the first three quarters of 2025 was a loss of CNY 5,337,013.97, compared to a net profit of CNY 18,518,061.27 in the same period of 2024[21] Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥194,951,534.02, an increase of 53.53%[3] - The net cash flow from operating activities for the first three quarters of 2025 was CNY 194,951,534.02, an increase of 53.5% from CNY 126,980,759.07 in 2024[24] - The company’s cash inflow from operating activities totaled CNY 946,243,221.61, down from CNY 1,058,574,633.84 in the previous year[24] - The net increase in cash and cash equivalents was $16,854,022.30, bringing the ending balance to $281,304,996.05[25] - The company reported a significant increase in debt repayment cash outflow, which rose to $245,292,032.70 compared to $32,996,253.63 in the previous period[25] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,366,270,274.76, a decrease of 0.49% from the end of the previous year[4] - Total current assets decreased to ¥1,253,230,156.44 from ¥1,303,563,927.99[14] - Total non-current assets increased to ¥2,113,040,118.32 from ¥2,079,264,944.54[15] - The total liabilities as of the end of the reporting period were CNY 1,284,117,689.29, slightly down from CNY 1,295,359,985.55 at the end of the previous year[16] - Total equity attributable to shareholders of the parent company was CNY 2,082,152,585.47, a slight decrease from CNY 2,087,468,886.98 in the previous year[16] Shareholder Information - Total number of common shareholders at the end of the reporting period is 22,597[11] - The top shareholder, Jin Yadong, holds 45,593,922 shares, representing 15.86% of total shares[11] Research and Development - Research and development expenses totaled ¥18,770,659.13 for the quarter, accounting for 6.62% of operating revenue, an increase of 1.32 percentage points year-on-year[4] - The company reported a decrease in research and development expenses to CNY 48,210,019.66 from CNY 51,749,359.02 in the previous year[20] Market and Competition - The company reduced sales and production of low-margin products, impacting revenue negatively[8] - The company faced risks related to increased competition in the lithium battery separator market, which may affect profit margins and lead to potential asset impairment[13] Financial Standards - The company is set 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 ¥229,604,389.05, representing a year-on-year increase of 32.73%[3] - Total profit for the quarter was ¥21,480,656.93, up 38.26% compared to the same period last year[3] - Net profit attributable to shareholders was ¥14,696,380.55, reflecting a 23.32% increase year-on-year[3] - For the first three quarters of 2025, the company reported a significant increase in revenue compared to the same period in 2024, although specific figures are not provided in the extracted content[18] - Total operating revenue for the first three quarters of 2025 reached ¥644,971,362.21, an increase from ¥548,449,238.58 in the same period of 2024, representing a growth of approximately 17.6%[19] - Net profit for the first three quarters of 2025 was ¥42,055,905.71, down from ¥59,401,594.06 in 2024, indicating a decline of about 29.2%[20] - Operating profit decreased to ¥61,258,221.75 in 2025 from ¥75,594,259.73 in 2024, a decline of about 18.9%[19] - The company reported a basic earnings per share of ¥0.35 for 2025, down from ¥0.46 in 2024[20] - The company experienced a decrease in comprehensive income to ¥42,004,612.20 in 2025 from ¥59,134,272.68 in 2024, a decline of about 29.0%[20] Research and Development - Research and development expenses totaled ¥27,101,266.68, accounting for 11.80% of operating revenue, a decrease of 1.37 percentage points from the previous year[4] - Research and development expenses increased to ¥76,959,840.62 in 2025 from ¥62,783,190.34 in 2024, reflecting a rise of approximately 22.5%[19] - The company has engaged in new product and technology development, although specific details are not included in the extracted content[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,261,932,078.63, an increase of 11.89% compared to the end of the previous year[4] - Current assets totaled CNY 1,325,798,501.25, up from CNY 1,076,060,562.26, indicating a growth of about 23.16%[14] - The company's cash and cash equivalents increased to CNY 262,011,220.82 from CNY 164,815,971.39, representing a growth of approximately 59.00%[14] - Inventory levels rose to CNY 444,383,725.85, compared to CNY 314,558,196.48, marking an increase of around 41.19%[14] - Total liabilities increased to CNY 1,178,802,477.25 from CNY 817,593,959.27, reflecting a growth of approximately 44.25%[16] - The company's equity attributable to shareholders decreased slightly to CNY 2,073,114,064.96 from CNY 2,085,690,400.96, a decline of about 0.60%[16] Cash Flow - The cash flow from operating activities for the year-to-date was negative at -¥36,856,274.12, a decline of 140.86% compared to the previous year[4] - Cash flow from operating activities showed a net outflow of ¥36,856,274.12 in 2025, compared to a net inflow of ¥90,198,831.64 in 2024[22] - Total cash and cash equivalents at the end of the period increased to ¥198,802,420.69 in 2025 from ¥155,467,839.55 in 2024, marking an increase of approximately 27.8%[23] - Investment activities resulted in a net cash outflow of ¥141,617,368.37 in 2025, compared to a net outflow of ¥194,245,760.52 in 2024, showing an improvement[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 12,195[10] - The largest shareholder, Zhao Lei, holds 20.46% of the company's shares, totaling 27,519,873 shares[10] - There are no significant changes reported in the shareholding structure or related party transactions during the reporting period[12] Market Strategies - The company is exploring market expansion strategies, but further specifics are not detailed in the extracted content[18]

Revenue and Profitability - Revenue for Q3 2025 reached ¥270,779,058.88, an increase of 8.46% year-over-year, while year-to-date revenue decreased by 5.01% to ¥666,958,399.97[4] - Net profit attributable to shareholders was ¥6,942,105.75, a significant increase of 197.60% compared to the same period last year, while year-to-date net profit showed a loss of ¥36,658,145.74, improving by 11.85%[4] - The net profit after deducting non-recurring gains and losses was ¥5,557,400.55, up 146.84% year-over-year, with a year-to-date loss of ¥49,824,006.67, a decrease of 2.76%[4] - Basic and diluted earnings per share for Q3 2025 were both ¥0.0328, reflecting a 197.36% increase year-over-year, while year-to-date earnings per share were negative at -¥0.1735, improving by 11.84%[4] - Net profit and total comprehensive income increased by 39.71% compared to the same period last year, primarily due to increased other income and reduced selling expenses[11] - Profit attributable to minority shareholders grew by 404.5% year-on-year, mainly due to the increased net profit of the subsidiary Garden Dairy[11] Cash Flow and Financial Position - Cash flow from operating activities for the year-to-date period was ¥114,579,783.36, a substantial increase of 715.36%[4] - Net cash flow from operating activities increased by 715.36% year-on-year, driven by higher cash receipts from sales and reduced selling expenses[11] - Net cash flow from financing activities grew by 190.96% year-on-year, due to increased bank borrowings and reduced cash outflows from dividends[14] - Cash and cash equivalents increased by 598.74% year-on-year, reflecting higher net cash flows from operating and financing activities[14] - The ending balance of cash and cash equivalents stood at ¥366,616,868.61, up from ¥283,089,600.19 at the end of the previous period[24] - Cash received from operating activities included ¥804,934,985.98 from sales, an increase from ¥730,436,496.60 in the previous period[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,055,679,787.74, a decrease of 4.33% from the end of the previous year[4] - Owner's equity attributable to shareholders decreased by 8.68% to ¥385,827,929.35 compared to the end of the previous year[4] - The company's total assets decreased to ¥1,055,679,787.74 from ¥1,103,411,423.29, reflecting a decline of approximately 4.3%[20] - Total liabilities decreased to ¥534,731,616.51, down from ¥558,964,121.21, indicating a reduction of about 4.3%[20] - The company's equity attributable to shareholders decreased to ¥385,827,929.35 from ¥422,486,075.09, a decline of approximately 8.7%[20] Operating Performance - Operating profit for the period increased by 33.5% year-over-year, driven by higher other income and reduced selling expenses[10] - Total operating costs decreased to ¥677,764,389.18, down 5% from ¥713,376,813.15 in the previous period[21] - Research and development expenses were ¥1,835,975.18, down 51.1% from ¥3,726,385.84 in the previous period[21] Investments and Joint Ventures - Investment income increased by 125.18% year-over-year, attributed to profitable operations from partially owned breeding farms[10] - The company established a joint venture with Beingmate to set up Xinjiang Tianshan Xiaobei Food Sales Co., Ltd. with a registered capital of CNY 1 million, where Tianshan Yunmu holds 95%[17] Tax and Other Income - The company reported a 99.96% increase in tax and additional charges year-over-year, primarily due to increased water resource taxes[9] - Cash received from tax refunds surged by 615.62% year-on-year, attributed to tax refunds received by Garden Dairy[11] - Cash received from other operating activities rose by 71.42% year-on-year, mainly due to government subsidies received by Garden Dairy[11] Shareholder Information - The total number of common shareholders at the end of the reporting period was 22,354, with the largest shareholder holding 41.82%[15] Miscellaneous - The company's third-quarter financial report was not audited[25]