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。 湖北福星科技股份有限公司 2025 年第三季度报告 证券代码：000926 证券简称：福星股份 公告编号：2025-038 湖北福星科技股份有限公司 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。 3.第三季度财务会计报告是否经过审计 □是 否 1 湖北福星科技股份有限公司 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 | 年初至报告期末比上 年初至报告期末 | | | --- | --- | --- | --- | --- | | | | 期增减 | | 年同期增减 | | 营业收入（元） | 283,432,802.53 | -53.32% ...

Financial Performance - The company's operating revenue for Q3 2025 was CNY 2,203,501,935.31, representing a 5.33% increase compared to the same period last year[4] - The total profit for the period was a loss of CNY 16,470,598.59, an improvement from a loss of CNY 97,455,868.17 in the previous year[4] - The net profit attributable to shareholders was a loss of CNY 25,317,203.98, compared to a loss of CNY 81,892,084.68 in the same period last year[4] - The net loss for the first three quarters of 2025 was reported at ¥486,316,393.39, compared to a net loss of ¥375,845,782.32 in the same period of 2024[20] - The net profit for the first three quarters of 2025 was -131,275,324.70 RMB, compared to -372,677,188.87 RMB in the same period of 2024, showing an improvement of approximately 64.8%[23] - The total comprehensive income attributable to the parent company for the first three quarters of 2025 was -109,914,822.07 RMB, compared to -300,145,958.70 RMB in 2024, reflecting a notable improvement[24] Cash Flow - The net cash flow from operating activities for the year-to-date was a negative CNY 66,358,752.44, a significant decline from a positive CNY 107,413,349.19 in the previous year[4] - The company reported a net cash flow from operating activities of -169.61 million RMB, primarily due to a decrease in cash received from sales[12] - The net cash flow from operating activities for the first three quarters of 2025 was -66,358,752.44 RMB, compared to 95,332,629.75 RMB in 2024, indicating a significant decline[24] - The company reported a net cash flow from financing activities of 2,025,305,809.13 RMB in 2025, a substantial increase compared to -117,629,942.23 RMB in 2024[25] - The company achieved a total cash inflow from financing activities of 7,037,570,079.56 RMB in 2025, compared to 5,909,665,923.57 RMB in 2024, indicating a growth in financing efforts[25] Assets and Liabilities - The total assets at the end of the reporting period were CNY 18,438,397,670.16, an increase of 11.89% from the end of the previous year[6] - The company's total assets reached ¥18,438,397,670.16 as of September 30, 2025, compared to ¥16,055,186,971.37 at the end of 2024, reflecting an increase of approximately 14.8%[20] - Total current assets as of September 30, 2025, were ¥9,718,579,720.62, up from ¥7,198,288,021.17 at the end of 2024, representing an increase of approximately 35%[19] - Total liabilities increased to ¥14,610,813,995.03 as of September 30, 2025, compared to ¥12,032,213,339.09 at the end of 2024, indicating a rise of about 21.5%[20] - The company's long-term borrowings increased to ¥2,620,592,209.87 as of September 30, 2025, from ¥2,204,014,652.93 at the end of 2024, representing an increase of approximately 18.8%[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 85,759[14] - The largest shareholder, Shi Junfeng, holds 31.04% of the shares, totaling 212,662,195 shares[14] - The top 10 shareholders collectively hold 34.77% of the company's total shares[15] - The report indicates no changes in the participation of the top 10 shareholders in margin trading and securities lending[16] Acquisitions and Partnerships - The company completed the acquisition of Shandong Meiduo Technology Co., Ltd., which is now a wholly-owned subsidiary, enhancing its market position[7] - The company has adjusted its financial statements due to the acquisition, reflecting the integration of Shandong Meiduo's financials into its consolidated reports[8] - The company has signed a procurement cooperation agreement with CATL to sell 157,500 tons of lithium iron phosphate cathode materials from Q2 2026 to 2031, with an estimated total sales amount exceeding 6 billion RMB[17] - The company's subsidiary, LBM NEW ENERGY (AP) PTE. LTD., is involved in the agreement with CATL, indicating a strategic partnership in the lithium battery supply chain[16] Operating Costs and Expenses - Total operating costs for the first three quarters of 2025 were ¥5,965,892,986.07, slightly down from ¥5,975,477,267.16 in 2024, indicating a decrease of about 0.2%[22] - Research and development expenses for the first three quarters of 2025 amounted to ¥310,762,323.09, a decrease from ¥370,484,288.95 in 2024, reflecting a reduction of approximately 16.1%[22] - The company experienced a decrease in operating expenses, with total cash outflows from operating activities amounting to 3,735,411,943.22 RMB in 2025, down from 4,101,489,787.04 RMB in 2024[24] Other Financial Metrics - The basic earnings per share and diluted earnings per share for the current reporting period are not applicable[12] - Basic and diluted earnings per share for the first three quarters of 2025 were both -0.16 RMB, an improvement from -0.54 RMB in 2024[24] - The company reported a total of CNY 14,875,185.24 in non-recurring gains for the period, indicating some financial relief despite overall losses[10] - The company has experienced a reduction in losses related to lithium iron phosphate cathode materials, contributing to improved financial performance[12] - The company did not report any net profit from subsidiaries prior to consolidation, with the previous year's net profit from the merged entity being -138,895.95 RMB[24]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥123,378,511.92, representing a year-on-year increase of 17.73%[3]. - The total profit for the period was ¥10,506,327.09, with a year-to-date total profit of ¥33,516,889.46, reflecting a significant increase of 300.41% compared to the previous year[3][8]. - Net profit attributable to shareholders for Q3 was ¥7,276,401.53, marking a year-on-year growth of 150.51%[3][8]. - Total operating revenue for the first three quarters of 2025 reached ¥363,854,525.58, an increase of 14.3% compared to ¥318,486,443.24 in the same period of 2024[17]. - Net profit for the first three quarters of 2025 was ¥20,719,725.46, a significant recovery from a net loss of ¥14,931,400.83 in the same period of 2024[18]. - The total comprehensive income for the first three quarters of 2025 was ¥20,953,883.99, a recovery from a loss of ¥16,488,648.07 in the same period of 2024[18]. Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥83,974,895.27, an increase of 68.89% compared to the previous year[3][8]. - Cash inflow from operating activities for the first three quarters of 2025 is 413,401,906.35 CNY, an increase of 8.3% from 379,785,264.54 CNY in the same period of 2024[19]. - Cash outflow for investing activities is 31,015,450.99 CNY, down 66.0% from 91,099,183.91 CNY in the previous year[20]. - Net cash flow from investing activities is -30,981,098.74 CNY, an improvement from -72,000,968.51 CNY in the same period last year[20]. - Cash inflow from financing activities totals 73,934,400.00 CNY, a decrease of 39.3% from 121,906,687.94 CNY in the previous year[20]. - Net cash flow from financing activities is 13,663,827.42 CNY, down 77.0% from 59,422,575.01 CNY year-over-year[20]. - The ending balance of cash and cash equivalents is 357,698,265.28 CNY, compared to 224,939,661.92 CNY at the end of the previous year, reflecting a 59.0% increase[20]. Assets and Liabilities - Total assets increased by 2.94% from the previous year-end, reaching ¥1,338,809,666.31[4]. - Total liabilities increased slightly to ¥406,995,292.36 from ¥402,216,111.69, showing a growth of 1.9%[15]. - Total equity attributable to shareholders rose to ¥900,750,469.58 from ¥866,885,685.69, marking an increase of 3.9%[15]. - Accounts receivable increased to RMB 13,633,071.77 from RMB 7,473,696.25, representing an increase of approximately 82.5%[12]. - Inventory stood at RMB 102,766,470.80, up from RMB 89,505,811.67, indicating an increase of about 14.7%[13]. - Short-term borrowings increased to RMB 91,472,917.17 from RMB 53,049,209.71, marking an increase of approximately 72.2%[13]. Research and Development - Research and development expenses totaled ¥51,600,668.69 for the quarter, a decrease of 13.60% year-on-year, and accounted for 41.82% of operating revenue[3]. - Research and development expenses were ¥92,757,264.16, down from ¥106,407,498.18, indicating a 13% reduction[17]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 29,360[10]. - Tianjin Weixin Sunshine Enterprise Management Consulting Co., Ltd. holds 71,859,417 shares, accounting for 17.27% of the total shares[10]. - The company has not reported any significant changes in the shareholding structure or any related party transactions among the top shareholders[11]. - The company has not received any declarations regarding other shareholders having related party relationships or concerted action agreements[11]. Other Information - The company plans to continue focusing on market expansion and new product development to drive future growth[3]. - The company has not adopted new accounting standards or interpretations for the year 2025[21]. - The report is unaudited and prepared by Sino Medical Science Technology Co., Ltd[19].

阿特斯阳光电力集团股份有限公司 2025 年第三季度报告 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 单位：元 币种：人民币 证券代码：688472 证券简称：阿特斯 阿特斯阳光电力集团股份有限公司 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、准确性和完整性依法承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 | | | 本报告期 | | 年初至报告 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 比上年同 | 年初至报告期末 | 期末比上年 | | | | 期增减变 | | 同期增减变 | | | | 动幅度(%) | | 动幅度(%) | | 营业收入 | 10,218,390,884.68 | ...

Revenue and Profit - The company's revenue for Q3 2025 reached CNY 4,163,410,136, representing a year-on-year increase of 60.71%[2] - The total profit for the period was CNY 371,362,804, showing a decrease of 4.91% compared to the same period last year[2] - Net profit attributable to shareholders was CNY 360,255,109, with a slight increase of 2.51% year-on-year[2] - The total revenue from January to the report period was CNY 12,066,472,888, reflecting a 72.22% increase compared to the previous year[2] - Total operating revenue for the first three quarters of 2025 reached CNY 12,066,472,888, a significant increase of 72.5% compared to CNY 7,006,608,107 in the same period of 2024[27] - Net profit for the first three quarters of 2025 was CNY 1,037,740,844, a decrease of 29.5% from CNY 1,472,199,820 in 2024[29] - The company reported a total comprehensive income of CNY 1,104,781,974 for the first three quarters of 2025, compared to CNY 1,467,111,070 in 2024, indicating a decline of 24.7%[31] Expenses and Costs - Research and development expenses for the quarter amounted to CNY 342,732,195, accounting for 8.23% of total revenue, a decrease of 0.67 percentage points[4] - Research and development expenses increased to CNY 1,027,912,518, representing a rise of 60.5% compared to CNY 640,188,421 in the previous year[29] - Total operating costs for the first three quarters of 2025 were CNY 11,187,147,812, up 99.5% from CNY 5,614,332,900 in 2024[27] Cash Flow - The company experienced a significant decline in cash flow from operating activities, with a net cash flow of CNY -1,059,785,772, a decrease of 200% year-on-year[2][11] - Cash inflow from operating activities totaled CNY 14,443,744,648, an increase of 68.5% from CNY 8,571,321,206 in 2024[33] - The net cash flow from operating activities was -1,059,785,772, compared to 1,059,785,049 in the previous year[34] - The net cash flow from investing activities was 232,553,326, an improvement from -684,867,352 year-over-year[34] - Cash inflow from financing activities totaled 2,353,928,596, up from 803,462,528 in the same period last year[34] - The net cash flow from financing activities was 474,866,520, compared to -91,975,659 in the previous year[34] - The company reported a net increase in cash and cash equivalents of -325,753,773, compared to an increase of 303,649,462 in the previous year[34] Assets and Liabilities - Total assets at the end of the period were CNY 19,291,307,469, an increase of 10.33% from the end of the previous year[4] - As of September 30, 2025, the total assets of Beijing Stone Century Technology Co., Ltd. amounted to RMB 19,291,307,469, an increase from RMB 17,484,730,046 at the end of 2024[22] - The total current assets increased to RMB 14,779,207,675, up from RMB 11,752,452,118, representing a growth of about 25.8%[23] - The total liabilities increased to CNY 5,531,052,586, up from CNY 4,614,546,720 in the previous year, reflecting a growth of 19.9%[27] - The total liabilities as of September 30, 2025, were not explicitly stated but included short-term borrowings of RMB 1,010,000,000 and accounts payable of RMB 2,848,377,897[23] Shareholder Information - The company has repurchased a total of 369,036 shares, accounting for 0.1424% of the total share capital, with a total expenditure of RMB 73,865,248.90[20] - The maximum repurchase price was adjusted to RMB 266.23 per share from RMB 373.74 per share[20] - The company plans to use between RMB 50 million and RMB 100 million for share repurchase to implement employee stock ownership plans and/or equity incentives[20] - The number of shares held by the top 10 shareholders includes 54,377,411 shares held by Changjing, representing 20.99% of the total[17] Tax and Other Financial Metrics - The company paid taxes totaling 866,197,258, an increase from 800,726,084 in the previous year[34] - The company's cash and cash equivalents decreased to RMB 1,138,929,977 from RMB 1,464,233,724 in December 2024, reflecting a decline of approximately 22.2%[22] - The company's inventory surged to RMB 3,715,843,178, compared to RMB 1,490,094,010 in December 2024, indicating a significant increase of approximately 149.5%[22] - The company reported a significant increase in other receivables, which amounted to RMB 490,120,972, down from RMB 868,496,194 in December 2024[22] - The basic earnings per share for the year-to-date period was CNY 2.19, reflecting a decrease of 29.79% compared to the previous year[4] - Basic earnings per share for the first three quarters of 2025 were CNY 4.03, down from CNY 5.74 in the same period of 2024[31]

山东圣阳电源股份有限公司 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： 山东圣阳电源股份有限公司 2025 年第三季度报告 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。 证券代码：002580 证券简称：圣阳股份 公告编号：2025-039 3.第三季度财务会计报告是否经过审计 □是 否 1 山东圣阳电源股份有限公司 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 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 886,421,723.08 | 7.97% | 2,60 ...

山高环能集团股份有限公司 2025 年第三季度报告 证券代码：000803 证券简称：山高环能 公告编号：2025-069 山高环能集团股份有限公司 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。 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 一、主要财务数据 山高环能集团股份有限公司 2025 年第三季度报告 | | | | 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冲 销部分） | 702,240.77 | 424,840.69 | | | 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、按照确定的标准享有 ...

广东潮宏基实业股份有限公司 2025 年第三季度报告 1 广东潮宏基实业股份有限公司 2025 年第三季度报告 证券代码：002345 证券简称：潮宏基 公告编号：2025-056 广东潮宏基实业股份有限公司 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 广东潮宏基实业股份有限公司 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 2 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 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 增减 | | 比上年同期增减 | | 营业收入（元） | ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥1,341,411,209.82, a decrease of 9.13% compared to the same period last year[4] - The net profit attributable to shareholders was a loss of ¥37,417,612.55, down 26.63% year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥-51,739,876.24, a decline of 41.19% compared to the previous year[4] - Total operating revenue for Q3 2025 was CNY 4,522,867,188.58, a decrease of 11.65% from CNY 5,118,774,044.93 in the same period last year[23] - Total operating costs decreased to CNY 4,364,798,843.62, down 12.00% from CNY 4,960,452,966.34 year-on-year[23] - Net profit for the period was CNY 127,561,703.98, representing an increase of 3.00% compared to CNY 123,827,359.34 in the previous year[24] - Earnings per share (EPS) for the quarter was CNY 0.17, up from CNY 0.16 in the same quarter last year[24] Assets and Liabilities - Total assets at the end of the reporting period reached ¥31,046,692,192.53, an increase of 2.18% from the end of the previous year[4] - Total assets increased to CNY 31,046,692,192.53, compared to CNY 30,385,433,633.76 at the end of the previous period[22] - Total liabilities rose to CNY 20,090,143,119.48, an increase from CNY 19,407,287,357.32 year-on-year[22] - The company's non-current assets totaled CNY 25,265,147,805.14, slightly up from CNY 25,066,549,655.85 in the previous year[22] Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥691,119,527.31, down 27.07%[4] - Operating cash flow for the current period is ¥691,119,527.31, a decrease of 27.1% from ¥947,678,375.31 in the previous period[26] - Total cash inflow from operating activities is ¥11,584,860,650.31, down 7.4% from ¥12,518,665,802.27 year-over-year[26] - Cash outflow from operating activities totals ¥10,893,741,123.00, a decrease of 6.0% compared to ¥11,570,987,426.96 in the previous period[26] - Investment activities resulted in a net cash outflow of ¥983,547,950.12, worsening from a net outflow of ¥363,523,197.17 in the previous period[26] - Cash inflow from financing activities is ¥3,322,951,908.59, down 7.3% from ¥3,583,786,508.06 year-over-year[26] - Net cash flow from financing activities improved to ¥655,129,241.70, compared to a net outflow of ¥283,096,814.29 in the previous period[26] - The ending cash and cash equivalents balance is ¥2,997,661,344.36, down from ¥3,329,817,865.07 in the previous period[26] Shareholder Information - The total number of common shareholders at the end of the reporting period is 39,521, with no preferred shareholders having restored voting rights[9] - The largest shareholder, Wuhan Commercial Group Co., Ltd., holds 21.55% of shares, amounting to 165,703,232 shares[9] - Zhejiang Intime Department Store Co., Ltd. holds 10.39% of shares, totaling 79,896,933 shares[9] Investments and Projects - The company invested CNY 1 billion in the new Xiangyang Wushang Mall project, with a total construction area of approximately 124,000 square meters[14] - A joint venture has been established with Wangfujing Group to operate duty-free shops in Wuhan, with registration completed[12] - The company has launched a valuation enhancement plan approved by the board on February 27, 2025[13] Debt and Financing - Short-term borrowings surged by 204.56% to ¥1,981,073,566.67, reflecting an increase in bank loans[7] - The company has registered medium-term notes with a total amount of 1.5 billion RMB, valid for two years from February 12, 2025[10] - The first phase of medium-term notes for 2023 has a total issuance of 940 million RMB with a coupon rate of 3.3%[11] - The company issued 360 million RMB in medium-term notes for 2025 with a coupon rate of 2.20%[12] - The company issued the first phase of super short-term financing bonds in 2025, with a scale of CNY 500 million and an interest rate of 1.92%[14] - The company completed the repayment of the first phase of super short-term financing bonds issued in 2024, amounting to CNY 500 million, on April 22, 2025[15] Other Information - The company appointed a new board secretary following the retirement of the previous secretary[18] - The company held an online performance briefing for the 2024 annual report on April 18, 2025[13] - The company reported cash dividends of CNY 2 per 10 shares, totaling CNY 149,980,806.20, based on a total share capital of 749,904,031 shares[16] - The company plans to distribute cash dividends of CNY 1 per 10 shares for the mid-term profit distribution in 2025[17] - The company’s cash and cash equivalents increased to CNY 3,061,684,644.36 from CNY 2,690,613,764.47[20] - The company’s accounts receivable rose to CNY 43,993,237.74 from CNY 26,567,728.74[20] - The company’s inventory decreased slightly to CNY 1,473,840,423.80 from CNY 1,486,186,910.78[20] - The company’s long-term equity investments increased to CNY 42,148,610.97 from CNY 31,318,328.68[20] - The company’s third-quarter financial report has not been audited[28]

Financial Performance - The company's operating revenue for Q3 2025 was ¥914,063,064.32, representing a decrease of 5.47% compared to the same period last year[4] - The total profit for the period was -¥1,786,562,307.71, with a year-to-date total profit of -¥5,706,046,853.91, reflecting a significant decline of 32,275.88%[4] - The net profit attributable to shareholders was -¥1,618,496,837.38 for the quarter, and -¥5,308,937,920.14 year-to-date, indicating a substantial loss[4] - The basic and diluted earnings per share for the quarter were both -¥0.57, with year-to-date figures at -¥1.86[4] - Total revenue for the first three quarters of 2025 was CNY 2,692,447,092.16, a decrease of 23.1% compared to CNY 3,499,341,894.56 in the same period of 2024[36] - The net loss for the first three quarters of 2025 was CNY 5,849,304,044.03, compared to a net loss of CNY 150,895,673.84 in the same period of 2024[36] - The company's basic and diluted earnings per share for the first three quarters of 2025 were both CNY -1.86, compared to CNY -0.03 in the same period of 2024[37] - The company reported a significant increase in financial expenses, which totaled CNY 1,091,103,857.65 in 2025, compared to CNY 999,001,225.29 in 2024, reflecting an increase of 9.2%[36] Assets and Liabilities - The total assets at the end of the reporting period were ¥75,241,603,840.84, down 1.56% from the previous year-end[5] - The total assets of the company as of September 30, 2025, were RMB 75.242 billion, a decrease of RMB 1.192 billion from the beginning of the year, while total liabilities increased by RMB 2.798 billion to RMB 53.296 billion[13] - The company's equity attributable to the parent company decreased by RMB 5.309 billion to RMB 18.530 billion, with a debt-to-asset ratio of 70.83%, up 4.76 percentage points from the end of the previous year[13] - Total liabilities increased to CNY 53,296,291,575.10 as of September 30, 2025, compared to CNY 50,498,083,263.25 at the end of 2024, marking an increase of 5.6%[33] - The total liabilities increased to ¥29,786,326,650.21 in 2025 from ¥27,821,014,156.12 in 2024, indicating a rise in financial obligations[42] Cash Flow - The cash flow from operating activities for the year-to-date was ¥821,315,264.03, showing an increase compared to the previous year[4] - Operating cash flow for the first three quarters of 2025 was ¥821,315,264.03, a significant improvement compared to a net cash outflow of ¥2,665,848,681.12 in the same period of 2024[39] - Total cash inflow from financing activities increased to ¥10,643,077,100.00 in 2025 from ¥6,566,111,541.40 in 2024, resulting in a net cash inflow of ¥1,523,118,200.00 compared to a net outflow of ¥3,106,321,020.98 in the previous year[40] - The company's cash and cash equivalents increased to CNY 6,617,121,633.29 from CNY 4,957,338,928.35, representing a growth of 33.5%[32] - The ending cash and cash equivalents balance for 2025 was approximately $2.40 billion, compared to $807.71 million at the end of 2024, marking an increase of about 196.5%[47] Project Development - The cumulative sales area for the year was approximately 413,200 square meters, with total sales amounting to approximately RMB 7.558 billion and cash collection of approximately RMB 7.908 billion[14] - The company commenced construction on approximately 429,500 square meters and completed approximately 682,000 square meters during the reporting period[15] - The company acquired new projects with a planned construction area of approximately 966,600 square meters, with total land reserves of approximately 3,213,100 square meters as of September 30, 2025[18] - The company reported a total of approximately 905,448 square meters of land held for development, with a planned construction area of approximately 1,468,702 square meters[16] - The company has ongoing projects with a total area of approximately 479,220 square meters, including various cooperative and entrusted projects[15] Market Strategy - The company is focusing on expanding its market presence in cities like Guangzhou and Hefei, with significant ongoing and new projects[20] - The company aims to enhance its operational efficiency and market competitiveness through strategic project management and investment in new technologies[20] - The company is actively pursuing new strategies for market expansion and product development in the real estate sector[30] Rental Income - The company recorded cumulative rental income of approximately RMB 116 million from real estate leasing during the reporting period[14] - The company reported rental income from leased properties amounting to RMB 11,621.45 million, with a total leased area of 626,248.01 square meters[30] - The company has a 100% equity ratio in most of its properties, ensuring full control over its rental income streams[29] - The company is expanding its commercial real estate portfolio, with significant projects in cities like Hefei and Wuhu[30] - The company has reported a strong occupancy rate across its properties, contributing to stable rental income[29] Changes in Management - The actual controller of the company changed from the Ministry of Finance of the People's Republic of China to Central Huijin Investment Ltd[31] Investment and Research - Research and development expenses decreased to ¥1,694,033.63 in 2025 from ¥3,152,505.03 in 2024, reflecting a reduction in investment in innovation[43] - The company's long-term investments decreased to ¥13,236,760,704.69 in 2025 from ¥13,442,691,052.78 in 2024, suggesting a potential shift in investment strategy[41]