Financial Performance - The company's operating revenue for Q3 2025 reached ¥82,040,451.96, representing a 24.19% increase year-over-year[5] - The net profit attributable to shareholders was a loss of ¥1,869,066.45, a decline of 80.19% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥2,531,844.41, down 73.92% year-over-year[5] - The company's basic earnings per share for the period was -¥0.0279, a decrease of 80.39% compared to the same period last year[5] - Operating revenue increased by 46.62% to ¥227,669,978.53, driven by increased computing power and sustainable income from photovoltaic projects[11] - Net profit improved by 123.52% to ¥5,831,032.16, attributed to higher operating revenue and project gross margins[11] - The net profit for the current period was ¥5,831,032.16, a turnaround from a net loss of ¥24,795,836.88 in the previous period[26] - The company reported a basic earnings per share of ¥0.0624, compared to a loss per share of ¥0.3187 in the previous period[26] - Diluted earnings per share for the current period is 0.0621, compared to -0.3198 in the previous period[27] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥1,503,033,959.41, reflecting a 12.69% increase from the end of the previous year[5] - The total assets at the end of the period amounted to ¥1,503,033,959.41, up from ¥1,333,766,753.86 at the beginning of the period, reflecting an increase of approximately 12.7%[24] - The total liabilities increased to ¥721,844,418.75 from ¥567,349,933.28, marking a rise of about 27.1%[24] - The company’s total equity attributable to shareholders increased by 1.67% to ¥770,918,381.65 compared to the end of the previous year[5] - The equity attributable to shareholders of the parent company rose to ¥770,918,381.65 from ¥758,250,167.43, showing an increase of approximately 1.9%[24] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥2,598,735.54, indicating a 97.45% decrease compared to the previous year[5] - Cash inflow from operating activities totaled 291,547,269.09 CNY, an increase from 181,415,683.53 CNY in the previous period[27] - Net cash flow from operating activities was -2,598,735.54 CNY, improving from -101,733,216.81 CNY in the previous period[27] - Cash outflow from investment activities was 440,879,232.03 CNY, compared to 315,765,204.93 CNY in the previous period[28] - Net cash flow from investment activities was -380,254,232.03 CNY, worsening from -8,921,831.80 CNY in the previous period[28] - Cash inflow from financing activities was 421,372,840.92 CNY, significantly higher than 107,088,908.03 CNY in the previous period[28] - Net cash flow from financing activities was 321,896,818.47 CNY, compared to 35,498,801.13 CNY in the previous period[28] - The ending balance of cash and cash equivalents was 210,728,158.86 CNY, up from 139,383,410.96 CNY in the previous period[28] Inventory and Borrowings - The company's inventory increased by 91.11% to ¥155,224,524.71, primarily due to ongoing projects not yet completed[9] - Short-term borrowings rose by 172.33% to ¥125,882,507.27, attributed to increased working capital for project construction[9] - Long-term borrowings surged to ¥214,932,351.78 from ¥31,937,786.17, indicating a significant increase of approximately 572.5%[23] Shareholder Information - The total number of common shareholders at the end of the reporting period was 9,434, with the largest shareholder holding 28.72%[13] - The company repurchased 1,224,140 shares, accounting for 1.83% of the total share capital[14] - The company will repurchase and cancel 256,000 restricted shares due to unmet performance targets, which is 0.38% of the total share capital prior to cancellation[18] - The total number of restricted shares at the end of the period was 17,376,458, down from 23,509,944 at the beginning, reflecting a decrease of approximately 26%[17] Investments and Acquisitions - The company plans to acquire 100% equity of Guangdong Xingyun Kaiwu Technology Co., Ltd. through a combination of cash and stock, with 51% to be purchased in cash and 49% through stock issuance[19] Management and Governance - The company appointed a new board of directors and management team, with terms set for three years starting from the approval date[19] Accounting and Standards - The company did not undergo an audit for the third quarter financial report[29] - The company will implement new accounting standards starting from 2025[29]

Financial Performance - The company's operating revenue for the third quarter was ¥1,934,134,555.38, a decrease of 20.08% compared to the same period last year[3] - The net profit attributable to shareholders was -¥324,786,286.71, representing a decline of 71.33% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥256,198,160.53, down 40.31% from the previous year[3] - The net cash flow from operating activities decreased by 80.20% year-on-year, amounting to ¥118,540,321.43[3] - Basic earnings per share were -¥0.49, a decrease of 75.00% compared to the same period last year[3] - The company's net loss attributable to shareholders was CNY -741,934,627.05, compared to a loss of CNY -162,277,774.42 in the previous period[15] - The net profit for the current period is -580,579,028.94, compared to -331,790,438.03 in the previous period, indicating a significant increase in losses[17] - The total comprehensive income for the current period is -580,579,028.94, compared to -331,790,438.03 in the previous period, reflecting a worsening financial position[18] - Basic and diluted earnings per share are both -0.87, compared to -0.49 in the previous period, showing a decline in profitability[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥9,468,925,133.02, down 11.54% from the end of the previous year[3] - Current assets decreased to CNY 2,484,807,460.34 from CNY 3,259,433,391.73, a decline of 23.8%[12] - Total liabilities decreased to CNY 8,218,399,221.46 from CNY 8,874,977,765.67, a decline of 7.4%[14] - The equity attributable to shareholders decreased by 32.20% to ¥1,212,141,377.27 compared to the end of the previous year[3] Cash Flow - Cash flow from operating activities generated a net cash inflow of 118,540,321.43, down from 598,694,644.99 in the previous period[19] - Cash flow from investing activities resulted in a net outflow of -24,135,624.14, compared to -176,098,241.43 in the previous period, indicating improved cash management[19] - Cash flow from financing activities showed a net outflow of -334,420,478.78, compared to -434,376,357.39 in the previous period, suggesting reduced financing costs[19] - The total cash and cash equivalents at the end of the period is 634,465,999.17, down from 1,176,697,442.60 in the previous period, indicating a decrease in liquidity[19] - The company's cash and cash equivalents were CNY 704,469,802.15, down from CNY 945,847,341.30, a decrease of 25.5%[12] Operational Challenges - The company reported a significant loss due to ongoing store closures and increased fixed costs, leading to a 74.83% decline in net profit year-on-year[6] - The company is undergoing a transformation in its business model and exploring new business formats amid intense industry competition[6] - The company reported a significant credit impairment loss of -41,422,135.81, compared to -6,237,734.62 in the previous period, indicating increased credit risk[17] - The operating profit for the current period is -436,767,079.62, compared to -281,753,865.50 in the previous period, highlighting a deterioration in operational performance[17] Strategic Initiatives - The company plans to repurchase and cancel 111,000 restricted shares due to changes in the personal circumstances of some incentive targets[9] - The company is focusing on market expansion and new product development strategies to improve future performance[10] Cost Management - Total operating costs amounted to CNY 6,983,145,039.17, down from CNY 8,446,839,934.27, reflecting a reduction of 17.3%[15] - The company reported a significant reduction in sales expenses to CNY 1,384,150,747.66 from CNY 1,544,130,768.76, a decrease of 10.4%[15] - Inventory levels dropped significantly to CNY 1,063,854,941.30 from CNY 1,516,769,406.81, a reduction of 30%[13] - Long-term equity investments fell to CNY 69,298,763.31 from CNY 151,302,873.65, a decrease of 54.3%[12] Interest and Earnings - Interest income for the current period is 7,519,656.05, compared to 22,143,956.27 in the previous period, reflecting a decline in interest earnings[17]

Financial Performance - In Q3 2025, the company's operating income was CNY 5,491,062, a decrease of 2.92% year-on-year[9] - The net profit for Q3 2025 was CNY 2,875,972, reflecting a slight increase of 0.16% compared to the same period last year[9] - For the first nine months of 2025, the company reported operating income of CNY 17.761 billion, a year-over-year increase of CNY 0.520 billion, or 3.01%[22] - The net profit attributable to shareholders for the same period was CNY 9.493 billion, up CNY 0.454 billion, or 5.03% year-over-year[22] - Net profit for the first nine months of 2025 reached 7,894,360 thousand RMB, a decrease from 9,164,118 thousand RMB in the same period of 2024, reflecting a decline of approximately 13.9%[49] Assets and Liabilities - Total assets reached CNY 1,385,255,000 as of September 30, 2025, marking a 10.81% increase from the end of 2024[10] - The company’s total liabilities increased by 10.24% to CNY 1,283,442,792 compared to the end of 2024[10] - Total deposits amounted to CNY 986.432 billion, reflecting a growth of CNY 100.573 billion, or 11.35% compared to the previous year[20] - The total loan amount was CNY 847.481 billion, which is an increase of CNY 104.913 billion, or 14.13% year-over-year[20] - The adjusted on-balance and off-balance sheet assets balance reached CNY 1,446,137,789 as of September 30, 2025, compared to CNY 1,307,663,981 at the end of 2024, reflecting a growth of approximately 10.6%[35] Cash Flow - The net cash flow from operating activities for the first nine months of 2025 surged by 388.75% to CNY 57,590,457[9] - Net cash flow from operating activities improved significantly to 57,590,457 thousand RMB in 2025, compared to a negative cash flow of 19,944,982 thousand RMB in 2024[51] - Cash inflow from investment activities totaled 117,324,475 thousand RMB in 2025, compared to 90,152,274 thousand RMB in 2024, marking an increase of about 30.1%[52] - Cash outflow from investment activities surged to 155,728,558 thousand RMB in 2025, compared to 49,237,688 thousand RMB in 2024, indicating a significant increase of approximately 216.5%[52] - The net cash flow from financing activities in 2025 was negative at (12,124,459) thousand RMB, contrasting with a positive cash flow of 14,124,222 thousand RMB in 2024[52] Capital and Ratios - The core tier one capital as of September 30, 2025, was CNY 85.590 billion, compared to CNY 80.442 billion at the end of 2024, showing a growth of 6.4%[32] - The total capital net amount reached CNY 140.432 billion, an increase from CNY 123.274 billion at the end of 2024[32] - The core Tier 1 capital adequacy ratio improved to 8.77% from 8.71% in the previous period, while the Tier 1 capital adequacy ratio increased to 10.52% from 10.48%[33] - The liquidity coverage ratio decreased to 190.37% as of September 30, 2025, down from 211.09% at the end of 2024, reflecting a tighter liquidity position[37] - The leverage ratio improved to 7.10% as of September 30, 2025, compared to 6.62% at the end of 2024, indicating a stronger capital position[35] Other Key Metrics - The company's non-performing loan ratio stood at 0.68%, while the provision coverage ratio was 433.08% as of September 30, 2025[22] - The annualized return on assets was 0.96%, and the weighted average return on equity was 11.40%[22] - The cost-to-income ratio for the first nine months of 2025 was 25.21%, compared to 24.75% in the same period of 2024[24] - The proportion of normal loans remained stable at 98.95% as of September 30, 2025, compared to 98.91% at the end of 2024, showing consistent asset quality[39] - Other comprehensive income after tax for the first nine months of 2025 was (1,598,179) thousand RMB, a significant decline from 125,336 thousand RMB in 2024[49] Future Plans - The company plans to expand its financial services and enhance its digital banking capabilities in the upcoming quarters[9]

Financial Performance - Revenue for Q3 2025 was CNY 708,710,306.93, a decrease of 59.24% compared to the same period last year[5] - Net profit attributable to shareholders was CNY -153,943,195.40, a decline of 10,941.51% year-on-year[5] - Operating income for the first nine months of 2025 was CNY 2,666,234,008.58, down 40.37% from the same period last year[8] - The company reported a basic and diluted earnings per share of CNY -0.9644, reflecting a decrease of 10,985.06% year-on-year[5] - Total operating revenue for the current period was ¥2,666,234,008.58, a decrease of 40.3% compared to ¥4,471,627,776.74 in the previous period[20] - The net profit for the current period was a loss of ¥357,473,244.13, compared to a profit of ¥31,187,060.87 in the previous period[21] - The total comprehensive income for the period was -357,473,092.60 CNY, compared to 31,187,959.08 CNY in the previous period[22] - The basic and diluted earnings per share were both -2.1451 CNY, compared to 0.0261 CNY in the previous period[22] Cash Flow - Cash flow from operating activities showed a net outflow of CNY -712,962,749.56, a significant decrease of 1,842.58% compared to the previous year[9] - The net cash flow from operating activities was -712,962,749.56 CNY, a significant decline from -36,701,924.11 CNY in the previous period[24] - Cash inflow from operating activities totaled 4,407,874,140.16 CNY, down 31.5% from 6,434,830,421.07 CNY in the previous period[23] - Cash outflow from operating activities was 5,120,836,889.72 CNY, a decrease of 21% compared to 6,471,532,345.18 CNY in the previous period[24] - The net cash flow from investing activities was 38,961,629.44 CNY, improving from -127,806,193.61 CNY in the previous period[24] - Cash inflow from financing activities was 3,027,241,700.93 CNY, an increase from 2,469,742,230.53 CNY in the previous period[24] - The net cash flow from financing activities was 560,257,371.06 CNY, up from 244,046,533.73 CNY in the previous period[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 8,915,556,576.47, down 12.55% from the end of the previous year[5] - The company's total assets decreased to ¥8,915,556,576.47 from ¥10,195,192,264.90, reflecting a decline of 12.6%[18] - Total liabilities decreased to ¥9,808,635,318.50 from ¥10,728,521,586.94, a reduction of 8.6%[18] - The total non-current assets increased to ¥3,201,212,455.84 from ¥2,857,358,086.73, representing a growth of 12.0%[18] - The company's cash and cash equivalents at the end of the reporting period amount to ¥1,044,273,503.99, down from ¥1,226,934,727.34 at the beginning of the period[16] - The company's cash and cash equivalents were not explicitly detailed, but the total current assets decreased to ¥5,714,344,120.63 from ¥7,337,834,178.17, a decline of 22.1%[18] Shareholder Information - The total number of common shareholders at the end of the reporting period is 7,434[10] - The largest shareholder, Zhuhai Zhengfang Group Co., Ltd., holds 29.95% of shares, totaling 47,811,853 shares[10] - Liu Haiyun, a natural person, holds 20.86% of shares, totaling 33,291,651 shares, with 9,250,000 shares pledged[10] Other Financial Metrics - The company experienced a 61.02% reduction in payable employee compensation, totaling CNY 28,577,837.53[8] - The company reported a significant increase in other income, which rose by 128.05% to CNY 648,445.62, attributed to higher government subsidies[8] - Accounts receivable decreased to ¥2,804,295,149.91 from ¥3,906,240,651.10[16] - Inventory at the end of the reporting period is ¥255,310,531.42, slightly up from ¥255,178,938.50[16] - Other receivables increased to ¥205,673,996.45 from ¥185,598,120.39[16] - The company's research and development expenses were ¥106,992,753.02, down 19.7% from ¥133,270,417.10 in the previous period[21] - The company experienced a significant increase in financial expenses, which rose to ¥159,389,936.56 from ¥150,166,572.06, an increase of 6.5%[21] Shareholder Commitments - The company has a net profit commitment from the controlling shareholder, Liu Haiyun, which is currently under review due to underperformance[12] - The company has postponed the commitment to avoid competition from the controlling shareholder, Zhuhai Zhengfang Group Co., Ltd.[13] - The controlling shareholder's ownership structure has changed, with the group being transferred to Guangdong Xiangshan Holding Group Co., Ltd.[14]

Financial Performance - The company's operating revenue for Q3 2025 was ¥289,412,867.84, a decrease of 23.81% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥55,701,281.62, representing a decline of 100.35% year-on-year[5]. - Total operating revenue for the current period was ¥787,409,983.61, a decrease of approximately 24.1% compared to ¥1,038,309,826.59 in the previous period[28]. - The net loss for the current period was ¥147,472,011.00, compared to a net loss of ¥72,454,973.57 in the previous period, indicating a worsening of approximately 103.5%[29]. - The company's total assets decreased slightly to ¥4,553,052,322.35 from ¥4,566,325,253.36, a decline of about 0.3%[27]. - Total liabilities increased to ¥2,703,269,175.57 from ¥2,586,062,756.84, representing an increase of approximately 4.5%[27]. - The total equity attributable to shareholders decreased to ¥1,769,444,134.67 from ¥1,884,180,911.03, a decline of about 6.1%[26]. - Research and development expenses were ¥129,722,687.54, down from ¥166,266,069.50, reflecting a decrease of approximately 22.0%[28]. - The weighted average return on net assets was -3.10%, a decrease of 1.60% compared to the previous year[5]. - The company reported a basic and diluted earnings per share of -0.41, compared to -0.16 in the previous period[29]. Cash Flow and Liquidity - The cash flow from operating activities showed a net outflow of -¥29,236,227.45 for the year-to-date, a significant improvement of 90.85% compared to the previous year[5][12]. - The company reported a significant decrease in cash and cash equivalents, with a balance of ¥877,760,314.39 as of September 30, 2025, down from ¥1,103,864,976.19 at the beginning of the period, representing a decline of approximately 20.5%[25]. - Operating cash inflow totaled $1,040,565,340.42, a decrease of 13.2% from $1,198,300,046.67 in the previous period[31]. - Net cash outflow from operating activities was -$29,236,227.45, improving from -$319,552,375.18 year-over-year[31]. - Cash flow from investing activities showed a net outflow of -$331,202,286.23, slightly worsening from -$329,567,373.02 in the previous period[31]. - Cash inflow from financing activities was $414,817,297.55, down 54% from $901,774,778.72 in the prior period[32]. - Net cash outflow from financing activities was -$24,246,404.71, a significant decline compared to a net inflow of $1,326,111.09 last year[32]. - The ending cash and cash equivalents balance was $444,674,086.84, an increase from $376,496,068.51 in the previous period[32]. Business Segments - Digital application business revenue for the first three quarters was ¥34,824.33 million, down 43.63% year-on-year, primarily due to changes in the consolidation scope after the transfer of subsidiary control[9]. - Digital product business revenue increased by 58.50% year-on-year to ¥32,447.02 million, driven by the recovery of automotive BMS-related business[9]. - The company expects steady growth in digital application business for the full year, despite seasonal characteristics affecting project acceptance[10]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 40,446[13]. - Hefei Guochuang Intelligent Technology Co., Ltd. holds 19.14% of shares, totaling 55,897,439 shares[13]. - The top 10 shareholders collectively hold a significant portion of shares, with the largest shareholder holding 19.14%[13]. - The total number of restricted shares at the end of the reporting period is 4,195,802 shares, with specific reasons for restrictions noted[16]. - The company has no preferred shareholders or changes in preferred shareholder holdings to report[15]. - The company has not identified any related party transactions among the top shareholders[13]. Strategic Initiatives - The company plans to optimize the structure of its digital product business and transfer control of the digital operation business to the management team to alleviate operational pressure[10]. - The company plans to transfer its controlling subsidiary, Anhui Keda Guochuang Software Technology Co., Ltd., to optimize resource allocation[17]. - The company has approved a share repurchase plan with a budget of 20 million to 40 million RMB, having repurchased 250,000 shares for a total of 6,013,676 RMB[18]. - The company will transfer 55.26% of its partnership interest in Hefei Zhilian Gongyi Equity Investment Partnership for 10.75 million RMB[19]. - The company’s subsidiary, Huilyun, will have its ownership structure adjusted to be fully held by its management team[19]. - The company has indicated a focus on improving operational efficiency and exploring new market opportunities in the upcoming quarters[30]. Legal and Compliance - The company has initiated several lawsuits to recover overdue receivables, with one notable case involving a claim of ¥6,841.20 million, for which a 100% bad debt provision has been made due to uncertainty in recovery[21]. - The company is actively monitoring ongoing litigation and has taken legal measures to protect its interests in overdue accounts[22]. - The "Smart Network and Smart Energy System R&D and Production Integration Base" project has experienced delays due to a cautious investment approach, with potential impairment risks if progress does not meet expectations[23]. Inventory and Assets - The total current assets decreased to ¥2,654,823,412.18 from ¥2,829,764,028.36, reflecting a decline of approximately 6.2%[25]. - The company has reported a significant increase in inventory, rising to ¥497,992,274.21 from ¥326,503,911.13, which is an increase of approximately 52.4%[25]. - The company has made a 100% provision for bad debts on certain receivables due to deteriorating credit conditions of counterparties[21].

隆华科技集团（洛阳）股份有限公司 2025 年第三季度报告 证券代码：300263 证券简称：隆华科技 公告编号：2025-066 隆华科技集团（洛阳）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.董事会及董事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担 个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度财务会计报告是否经过审计 □是 否 1 （二） 非经常性损益项目和金额 适用 □不适用 | | | | 单位：元 | | --- | --- | --- | --- | | 项目 | 本报告期金额 | 年初至报告期期末 | 说明 | | | | 金额 | | | 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） | 685,670.29 | 487,887.25 | | | 计入当期损益的政府补助（与公司正常经营业务密切相关、符合 国家政策规定、 ...

Financial Performance - The company's revenue for Q3 2025 was ¥114,672,098.21, a decrease of 8.78% compared to the same period last year[3]. - The net profit attributable to shareholders was -¥4,774,338.30, representing a decline of 158.60% year-over-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥3,334,103.01, down 142.12% from the previous year[3]. - Total operating revenue decreased to ¥348,139,976.25 from ¥386,211,477.69, representing a decline of approximately 9.9% year-over-year[21]. - Net profit for the period was ¥8,027,483.53, down from ¥36,730,743.45, indicating a decline of approximately 78.1% year-over-year[22]. - Basic and diluted earnings per share decreased to ¥0.0432 from ¥0.1799, reflecting a decline of about 76.0% year-over-year[23]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,334,048,766.50, an increase of 13.40% compared to the end of the previous year[3]. - Total assets increased to ¥1,334,048,766.50 from ¥1,176,399,513.14, marking an increase of approximately 13.4% year-over-year[20]. - Total liabilities rose to ¥420,199,920.81 from ¥416,248,569.59, a slight increase of about 0.5% year-over-year[20]. - The equity attributable to shareholders increased by 20.02% to ¥902,967,769.04 compared to the end of the previous year[3]. - Shareholders' equity increased to ¥913,848,845.69 from ¥760,150,943.55, representing a growth of approximately 20.2% year-over-year[20]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥47,064,513.48, a significant increase of 183.62%[3]. - Cash inflow from operating activities totaled ¥183,476,277.62, compared to ¥162,126,238.64 in the prior period, reflecting a growth of approximately 13.5%[25]. - Cash outflow from operating activities decreased to ¥136,411,764.14 from ¥218,412,041.66, indicating a reduction of about 37.5%[25]. - The company reported a significant increase in cash and cash equivalents, rising by 154.56% to ¥224,695,831.85 due to funds received from stock issuance[8]. - Cash inflow from financing activities increased significantly to ¥280,149,983.41 from ¥123,334,071.91, marking an increase of approximately 127%[26]. - Net cash flow from financing activities improved to ¥155,640,198.63 from a negative ¥73,913,088.80, indicating a turnaround[26]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 28,818[11]. - The largest shareholder, Li Youming, holds 35.30% of shares, totaling 73,354,862 shares[11]. - The number of restricted shares held by Li Youming remains at 55,016,146, as no shares were released during the period[14]. - The total number of shares with no restrictions on sale held by the top 10 shareholders is 28,338,716 shares[11]. - The company has not disclosed any changes in the shareholding structure of the top 10 shareholders due to margin trading activities[12]. Inventory and Receivables - The company reported a decrease in accounts receivable from ¥223,558,420.08 to ¥219,496,839.89, a decline of 1.5%[18]. - The total inventory increased to ¥83,611,528.48 from ¥78,020,760.86, reflecting a growth of 7.1%[18]. Investment Activities - Investment income for the period was -¥1,075,087.52, a decrease of 139.88% primarily due to losses from the sale of subsidiary equity[9]. - The company reported an investment loss of ¥1,075,087.52 compared to a gain of ¥2,695,751.60 in the previous period[21]. - Cash inflow from the recovery of investments was ¥206,000,000.00, slightly down from ¥225,628,539.12 in the prior period[26]. - Total cash inflow from investment activities was ¥206,799,793.48, down from ¥229,563,982.40, reflecting a decrease of about 9.9%[26]. Company Strategy - The company plans to sell 75% of its stake in Shenzhen Lejian for a nominal price of ¥1, aiming to reduce management costs and optimize asset structure[16]. - The company is focusing on new product development and market expansion strategies, although specific details were not provided in the extracted data[24]. Audit Information - The company did not undergo an audit for the third quarter financial report[27].

罗牛山股份有限公司 2025 年第三季度报告 证券代码：000735 证券简称：罗 牛 山 公告编号：2025-033 罗牛山股份有限公司 2025 年第三季度报告 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度财务会计报告是否经过审计 □是 否 1 罗牛山股份有限公司 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 追溯调整或重述原因 | | | 单位：元 | | | --- | --- | --- | --- | | 项目 | 本报告期金额 | 年初至报告期期末金额 | 说明 | | 非流动性资产处置损益（包括已计提资产减值准备的 | -3,568,476.77 | -12,419,021.73 | | | 冲销部分） | | | | | 计入当期损益的政府补助（与公司正常经营业务密切 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥356,642,067.24, a decrease of 0.94% compared to the same period last year[3] - Net profit attributable to shareholders for Q3 2025 reached ¥15,033,588.57, an increase of 80.52% year-on-year[3] - The basic earnings per share for Q3 2025 was ¥0.0375, up 80.29% compared to the same period last year[3] - Total operating revenue for the current period was ¥1,012,332,711.14, a decrease of 5.3% compared to ¥1,069,500,874.38 in the previous period[19] - Net profit for the current period was ¥46,048,189.83, an increase of 37.0% from ¥33,608,699.55 in the previous period[20] - The total comprehensive income for the period was CNY 46,048,189.83, compared to CNY 33,608,699.55 in the previous period, representing an increase of approximately 37%[21] - Basic and diluted earnings per share increased to CNY 0.1160 from CNY 0.0913, reflecting a growth of about 27%[21] Cash Flow - The net cash flow from operating activities for the year-to-date period increased by 885.98%, totaling ¥110,067,105.47[7] - The company’s cash flow from operating activities remains strong, supporting ongoing investments and operational stability[19] - Cash inflow from operating activities totaled CNY 1,354,544,435.75, up from CNY 1,262,505,706.05, indicating an increase of approximately 7%[21] - The net cash flow from operating activities was CNY 110,067,105.47, a significant recovery from a negative CNY 14,003,794.05 in the previous period[21] - Cash inflow from investment activities was CNY 1,487,037,966.89, compared to CNY 342,193,898.82, marking a substantial increase[22] - The net cash flow from investment activities was negative at CNY -148,534,282.06, an improvement from CNY -559,677,128.30 in the previous period[22] - Cash inflow from financing activities was CNY 205,075,834.76, down from CNY 285,221,000.00, reflecting a decrease of approximately 28%[22] - The net cash flow from financing activities was CNY -45,300,162.40, compared to a positive CNY 89,569,360.81 in the previous period[22] - The ending cash and cash equivalents balance was CNY 195,167,309.21, slightly up from CNY 186,463,010.10 in the previous period[22] Assets and Liabilities - The total assets at the end of Q3 2025 amounted to ¥3,170,886,111.36, reflecting a growth of 4.69% from the end of the previous year[4] - Total current assets increased from 2,376,043,743.88 CNY to 2,628,646,463.98 CNY[16] - Total liabilities increased to ¥1,646,194,595.35 from ¥1,525,147,013.49, reflecting a rise of 7.9%[18] - The equity attributable to shareholders of the parent company rose to ¥1,525,262,909.57, compared to ¥1,503,887,028.22, marking an increase of 1.4%[18] Investments and Income - The company reported a significant increase in investment income, which rose by 2089.75% year-on-year, primarily due to increased returns from financial products[9] - The company reported an investment income of ¥5,856,916.64, compared to a loss of ¥294,353.66 in the previous period[19] Shareholder Information - Total number of common shareholders at the end of the reporting period is 45,827[12] - Jiangsu Jinzhi Group holds 20.03% of shares, totaling 80,252,460 shares[12] - The company completed a share transfer agreement on July 22, 2025, transferring 64,132,389 shares, representing 16.01% of total shares, at a price of 11 CNY per share[14] - The share transfer price was later adjusted to 10.975 CNY per share[15] Inventory and Contract Liabilities - The company’s inventory increased by 48.86% compared to the beginning of the year, indicating a rise in stockpiling[9] - The company’s contract liabilities increased by 48.29% compared to the beginning of the year, reflecting an increase in advance payments for contract projects[9] Other Financial Metrics - The weighted average return on equity for Q3 2025 was 0.99%, an increase from 0.42% at the end of the previous year[4] - Research and development expenses increased to ¥115,303,894.71, up from ¥101,837,621.45, representing a growth of 13.2%[19] - Deferred income tax liabilities increased to ¥3,060,128.46 from ¥1,527,282.25, showing a significant rise of 100.5%[20] Audit Status - The third quarter financial report was not audited, indicating that the figures are preliminary and subject to change[23]

Financial Performance - The company's operating revenue for the third quarter was ¥125,612,877.08, representing a year-on-year increase of 9.80%[4] - The total profit for the quarter was ¥21,818,773.21, showing a decrease of 28.71% compared to the same period last year[4] - The net profit attributable to shareholders was ¥22,657,663.39, down 23.92% year-on-year[4] - Total operating revenue for the first three quarters of 2025 reached ¥344,012,238.72, a 22.4% increase from ¥281,116,391.73 in the same period of 2024[18] - Net profit for the first three quarters of 2025 was ¥62,000,827.98, a 3.2% increase from ¥60,063,289.77 in the same period of 2024[19] - Basic earnings per share increased to ¥0.7449 from ¥0.7350 year-over-year[20] Research and Development - Research and development expenses totaled ¥36,068,306.00, which is an increase of 28.41% compared to the same period last year[5] - The ratio of R&D expenses to operating revenue was 28.71%, up by 4.16 percentage points year-on-year[5] - Research and development expenses rose to ¥101,714,625.96, representing a 28.0% increase compared to ¥79,465,834.83 in the previous year[18] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date was -¥12,035,978.26, indicating a significant decline[4][10] - Cash flow from operating activities showed a net outflow of ¥12,035,978.26, compared to a net inflow of ¥58,316,288.59 in the same period last year[21] - Cash and cash equivalents at the end of the period totaled ¥348,563,989.96, down from ¥378,407,869.66 at the end of the same period in 2024[22] - Investment activities generated a net cash inflow of ¥46,719,217.49, slightly down from ¥49,820,057.34 in the previous year[22] - Financing activities resulted in a net cash outflow of ¥3,506,759.26, an improvement from a net outflow of ¥95,346,031.09 in the same period last year[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,863,725,318.56, reflecting a 4.55% increase from the end of the previous year[5] - The company's total assets as of September 30, 2025, were ¥1,863,725,318.56, compared to ¥1,782,656,928.69 at the end of 2024, reflecting overall asset growth[16] - Total liabilities increased to ¥144,187,858.69 compared to ¥70,679,646.76 in the previous period, indicating a rise in financial obligations[16] - The equity attributable to shareholders reached ¥1,719,537,459.87, slightly up from ¥1,711,977,281.93, indicating stable shareholder value[16] Shareholder Information - The company reported a total of 7,180 ordinary shareholders at the end of the reporting period[11] - The top ten shareholders held a combined 66.06% of the company's shares, with the largest shareholder owning 20.44%[12] Inventory and Receivables - Inventory levels rose to ¥163,715,488.98 from ¥105,488,672.62, showing a growth of approximately 55%[14] - The accounts receivable increased to ¥42,160,255.35 from ¥36,020,567.29, representing a growth of approximately 17%[14] - The company reported a significant increase in other receivables, which rose to ¥19,649,655.40 from ¥13,147,506.09, marking a growth of about 49%[14] Other Financial Metrics - The weighted average return on equity was 1.33%, a decrease of 0.52 percentage points compared to the previous year[5] - Other comprehensive income after tax showed a decrease, with a net loss of ¥436,430.68 compared to a loss of ¥818,238.56 in the previous year[19] - The total non-current assets were reported at ¥158,907,832.19, down from ¥1,021,645,529.22, indicating a shift in asset composition[15] - The cash and cash equivalents reached ¥348,563,989.96, up from ¥327,932,148.56, reflecting a year-on-year increase[14]