Financial Performance - The company's operating revenue for the third quarter was ¥34,355,268.37, a decrease of 37.35% compared to the same period last year[4] - The total profit for the third quarter was -¥13,160,358.53, with a year-to-date total profit of -¥16,512,859.59[4] - The net profit attributable to shareholders for the third quarter was -¥9,174,959.22, representing a 198.14% increase in losses year-to-date[4] - Total operating revenue for the first three quarters of 2025 was CNY 139,103,619.10, a decrease of 26.6% compared to CNY 189,630,100.09 in the same period of 2024[21] - Net profit for the first three quarters of 2025 was a loss of CNY 12,308,952.88, compared to a profit of CNY 1,547,536.52 in the same period of 2024[22] - The company reported a basic and diluted earnings per share of CNY -0.10 for the first three quarters of 2025, compared to CNY 0.10 in 2024[23] - Basic and diluted earnings per share for the third quarter were both -¥0.17, a decrease of 200% compared to the previous year[5] Research and Development - Research and development expenses totaled ¥10,801,929.03 for the quarter, accounting for 31.44% of operating revenue, an increase of 8.37 percentage points[5] - Research and development expenses for the first three quarters of 2025 were CNY 42,449,127.26, down 9.7% from CNY 46,854,439.70 in 2024[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥947,826,923.07, a decrease of 3.84% from the end of the previous year[5] - Total current assets as of September 30, 2025, amount to ¥440,132,705.37, a decrease from ¥470,136,956.05 as of December 31, 2024[17] - Total assets amount to ¥947,826,923.07, down from ¥985,701,603.79[17] - The total liabilities decreased to CNY 39,491,403.37 in 2025 from CNY 65,057,131.21 in 2024, reflecting a reduction of 39.2%[19] - The total equity attributable to shareholders decreased to CNY 903,635,431.60 in 2025 from CNY 909,256,093.84 in 2024, a decline of 0.7%[19] Cash Flow - Cash flow from operating activities for the year-to-date was ¥26,861,231.93, a decrease of 17.60% compared to the previous year[4] - The company's cash flow from operating activities for the first three quarters of 2025 was CNY 156,046,434.85, a decrease of 19.8% from CNY 194,589,393.22 in 2024[25] - The net cash flow from operating activities was $26,861,231.93, a decrease of 17.4% compared to $32,599,551.94 in the previous period[26] - Total cash inflow from investment activities was $154,094,855.46, down from $181,198,809.30, reflecting a decline of 15%[26] - The net cash flow from investment activities was -$30,164,097.45, an improvement from -$36,834,773.43 in the previous period[26] - Cash outflow from financing activities totaled $18,199,331.59, slightly decreased from $19,766,138.25[27] - The net increase in cash and cash equivalents was -$21,961,958.45, compared to -$24,532,157.77 in the previous period[27] - Cash outflow for purchasing goods and services was $31,790,293.19, compared to $37,921,991.98 previously, indicating a decrease of 16.5%[26] - Cash paid to employees was $60,546,569.70, down from $70,624,800.75, a reduction of 14.4%[26] - Cash paid for taxes increased to $17,337,356.89 from $11,673,215.72, representing a rise of 48.5%[26] Shareholder Information - Total number of common shareholders at the end of the reporting period is 4,715[12] - The largest shareholder, Xiong Hui, holds 10,176,397 shares, representing 18.22% of total shares[12] Impairment and Competition - The company reported an increase in accounts receivable credit impairment losses by 30.92% year-on-year, amounting to ¥5,052,650[10] - The company experienced a significant increase in credit impairment losses, which rose to CNY -7,222,974.28 in 2025 from CNY -5,517,111.95 in 2024[22] - The company experienced intensified competition in the in vitro diagnostics industry, impacting revenue negatively[9] Accounting Standards - The company plans to implement new accounting standards starting in 2025, which may affect financial reporting[28]

Financial Performance - The company's operating revenue for Q3 2025 was ¥517,489,430.16, a decrease of 10.46% compared to the same period last year[3] - The total profit for the period was -¥31,197,241.66, with a net profit attributable to shareholders of -¥44,131,774.15, reflecting a significant decline in profitability[3] - Total operating revenue for the first three quarters of 2025 was ¥1,560,140,663.88, a decrease of 14.7% compared to ¥1,828,298,552.68 in the same period of 2024[24] - Net profit for the first three quarters of 2025 was a loss of ¥53,733,667.51, an improvement from a loss of ¥64,731,060.26 in the same period of 2024[25] - The company reported a total profit loss of ¥37,965,724.97 for the first three quarters of 2025, an improvement from a loss of ¥51,895,562.04 in the same period of 2024[25] Cash Flow and Assets - The cash flow from operating activities for the year-to-date was -¥9,127,706.40, indicating ongoing cash flow challenges[3] - The net cash flow from operating activities for the first three quarters of 2025 was a negative ¥9,127,706.40, compared to a negative ¥258,013,394.28 in the first three quarters of 2024[29] - The company's total current assets amounted to RMB 3,661,707,623.53, a slight decrease from RMB 3,730,401,134.18 at the end of 2024[20] - The company's cash and cash equivalents increased to RMB 922,288,677.32 from RMB 757,643,131.44 at the end of 2024, reflecting a growth of approximately 21.7%[20] - Total liabilities decreased to RMB 1,786,174,750.58 from RMB 1,931,188,750.83, showing a reduction of about 7.5%[22] Shareholder Information - Total number of common shareholders at the end of the reporting period is 79,064[10] - The largest shareholder, Hong Kong Central Clearing Limited, holds 243,767,203 shares, representing 26.67% of total shares[10] - The total shareholding of China Electronics, the actual controller, is 273,964,055 shares, which is 29.98% of the total issued share capital[12] - The top 10 shareholders collectively hold significant stakes, with the top three alone accounting for over 52% of total shares[10] - Panda Electronics Group Co., Ltd. holds 210,661,444 shares, accounting for 23.05% of total shares, with 105,091,430 shares pledged[14] Investment and Expenses - Investment income increased by 37.91%, mainly due to higher returns from associated companies[8] - Research and development expenses for the first three quarters of 2025 were ¥148,206,761.89, a decrease of 11.4% from ¥167,315,877.83 in the same period of 2024[24] - Cash outflow for investment activities amounted to $1,041,063,512.53, down from $1,210,419,128.59, indicating a reduction in capital expenditures[30] Legal and Regulatory Matters - The company has ongoing litigation involving its subsidiary, with a favorable ruling requiring the opposing party to pay outstanding amounts, currently in the execution phase[18] - The company is currently in the process of handling the registration of changes in business operations related to the equity transfer[17] - The company has disclosed important information regarding tax adjustments related to its associate, Nanjing Ailixin Panda Communication Co., Ltd.[15] Accounting and Reporting - The company did not adopt new accounting standards for the current reporting period, maintaining consistency in financial reporting[31] - The board of directors announced the financial results on October 28, 2025, indicating a commitment to timely disclosures[32]

Financial Performance - The company's operating revenue for Q3 2025 was ¥1,555,430,609.51, representing a year-over-year increase of 2.40%[2] - The total profit for the period was ¥6,668,016.63, while the net profit attributable to shareholders was ¥11,918,415.04, showing significant improvement compared to a net loss of ¥75,046,008.44 year-to-date[2] - The basic and diluted earnings per share for the quarter were both ¥0.11, a recovery from a loss of ¥0.67 year-to-date[2] - Total operating revenue for the first three quarters of 2025 reached ¥4,463,802,946.49, an increase of 26% compared to ¥3,546,024,524.10 in the same period of 2024[17] - The net loss for the first three quarters of 2025 was ¥73,585,467.05, an improvement from a net loss of ¥407,313,181.09 in the same period of 2024[18] - The total comprehensive loss for the first three quarters of 2025 was ¥74,382,985.99, compared to a loss of ¥406,827,023.05 in 2024, showing a significant improvement[18] - The basic and diluted earnings per share for the first three quarters of 2025 were both -¥0.67, compared to -¥3.56 in the same period of 2024[18] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥313,070,704.77, indicating ongoing challenges in cash generation[2] - Cash inflow from operating activities for the first three quarters of 2025 was approximately $4.47 billion, up from $3.03 billion in the same period of 2024, representing a year-over-year increase of about 47.9%[20] - The net cash flow from operating activities was negative $313.07 million in 2025, an improvement compared to negative $874.72 million in 2024[20] - Cash inflow from investment activities increased to approximately $1.33 billion in 2025 from $723.31 million in 2024, marking an increase of about 84.4%[22] - The net cash flow from investment activities was negative $676.50 million in 2025, compared to negative $941.59 million in 2024, indicating a reduced cash outflow[22] - Cash inflow from financing activities rose to approximately $1.11 billion in 2025, up from $631.11 million in 2024, reflecting an increase of about 76%[22] - The net cash flow from financing activities was positive $293.21 million in 2025, contrasting with a negative $1.05 million in 2024[22] - The ending cash and cash equivalents balance for 2025 was approximately $670.01 million, down from $1.38 billion in 2024[22] - The total cash outflow from operating activities was approximately $4.79 billion in 2025, compared to $3.90 billion in 2024, indicating an increase of about 22.7%[20] - The company reported a cash inflow of $68.27 million from tax refunds in 2025, compared to $54.90 million in 2024, showing an increase of about 24.3%[20] Assets and Liabilities - Total assets increased to ¥9,705,296,037.48, reflecting a growth of 3.17% compared to the end of the previous year[3] - Current assets decreased to ¥5,574,861,243.38 from ¥5,839,257,413.18, representing a decline of about 4.53%[12] - Cash and cash equivalents were reported at ¥740,910,978.84, down from ¥1,505,689,965.94, indicating a significant decrease of approximately 50.8%[11] - Accounts receivable totaled ¥1,702,396,513.15, a decrease from ¥1,830,447,902.79, which is a reduction of about 7%[11] - Inventory increased to ¥1,898,630,474.88 from ¥1,482,217,071.41, marking a growth of approximately 28.14%[12] - The company's total liabilities increased to ¥5,641,874,498.07 in 2025 from ¥5,131,028,389.81 in 2024, marking an increase of about 9.9%[15] - The total liabilities increased to ¥5,574,861,243.38, compared to the previous period, indicating a rise in financial obligations[12] - The total equity attributable to shareholders decreased to ¥3,942,144,927.20 in 2025 from ¥4,183,518,680.54 in 2024, a decline of approximately 5.8%[15] Research and Development - Research and development expenses totaled ¥258,504,172.92 for the quarter, accounting for 16.62% of operating revenue, a decrease of 3.9 percentage points year-over-year[3] - The company experienced a reduction in R&D investment by 15.71% year-to-date, totaling ¥797,128,467.79[2] - Research and development expenses for the first three quarters of 2025 were ¥632,830,758.16, down from ¥791,038,271.11 in 2024, indicating a reduction of about 20%[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 6,719, with no preferred shareholders[9] - The company has not reported any changes in the participation of major shareholders in margin financing and securities lending activities during the reporting period[11]

Financial Performance - The company's operating revenue for the third quarter reached ¥63,492,722.99, representing a year-on-year increase of 107.72%[4] - The total profit for the third quarter was ¥10,481,976.75, showing a significant increase compared to the previous year[4] - The net profit attributable to shareholders for the third quarter was ¥6,065,088.16, reflecting a remarkable growth of 738.45% year-on-year[4] - Total operating revenue for the first three quarters of 2025 reached CNY 188.15 million, a significant increase from CNY 64.44 million in the same period of 2024, representing a growth of approximately 192.3%[22] - Net profit for the first three quarters of 2025 was CNY 15.96 million, a turnaround from a net loss of CNY 0.08 million in the same period of 2024[23] - The company's gross profit margin improved significantly, with gross profit for the first three quarters of 2025 at CNY 23.85 million, compared to CNY 2.57 million in 2024[22] - The basic earnings per share for the third quarter was ¥0.0758, a significant increase of 742.22% year-on-year[6] - The company reported a basic earnings per share of CNY 0.1807 for the first three quarters of 2025, compared to a loss per share of CNY 0.0010 in the same period of 2024[24] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥59,586,701.04, an increase of 261.55% compared to the same period last year[4] - Cash flow from operating activities for the first three quarters of 2025 was CNY 207.56 million, up from CNY 94.60 million in 2024, reflecting a growth of approximately 119.9%[26] - The net cash inflow from operating activities was CNY 59,586,701.04, an increase from CNY 16,480,689.35 in the previous period[27] - The total cash and cash equivalents at the end of the period amounted to CNY 232,598,687.14, up from CNY 144,261,382.52 at the end of the previous period[28] Assets and Liabilities - The total assets at the end of the reporting period were ¥947,713,170.33, marking a 3.51% increase from the end of the previous year[6] - The total assets of the company as of the latest reporting period amounted to CNY 947.71 million, an increase from CNY 915.58 million in the previous period[20] - Total liabilities increased to CNY 176.46 million from CNY 166.63 million, showing a rise of about 5.0%[20] - The company's equity attributable to shareholders reached CNY 749.57 million, up from CNY 737.76 million, indicating a growth of approximately 1.1%[20] Research and Development - Research and development expenses totaled ¥2,996,749.65 for the third quarter, which is an increase of 34.95% year-on-year[6] - The ratio of R&D expenses to operating revenue decreased by 2.54 percentage points to 4.72% in the third quarter[6] - Research and development expenses for the first three quarters of 2025 were CNY 6.71 million, slightly higher than CNY 6.53 million in 2024, reflecting ongoing investment in innovation[23] Investments and Assets - The company's long-term equity investments were reported at RMB 14,356,074.39, slightly down from RMB 14,789,708.87[18] - The company’s intangible assets increased to RMB 44,480,502.01 from RMB 33,266,018.84, reflecting a growth of approximately 33.7%[18] Corporate Developments - The company attributed the increase in operating revenue to a higher volume of sales from the complete cracking production line and additional income from newly established subsidiaries[10] - The company’s main product, "Key Technology and Equipment for Resource Utilization of Organic Solid Waste Pyrolysis," was included in the Ministry of Industry and Information Technology's directory of advanced applicable processes and technologies for comprehensive resource utilization in 2025[16] - The company successfully passed the review to be listed as a compliant enterprise in the 2025 Environmental Equipment Manufacturing Industry[16] Shareholder Information - The actual controller of the company, Mr. Niu Bin, controls a total of 40.67% of the shares through two investment partnerships[15]

Financial Performance - The company's revenue for Q3 2025 was ¥375,277,751.41, representing a decrease of 4.23% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥62,688,468.92, down 28.70% year-on-year, while the net profit after deducting non-recurring gains and losses was -¥64,841,971.35, a decrease of 29.17%[5]. - Total operating revenue for the current period was ¥1,525,594,859.73, a decrease of 11.3% from ¥1,720,484,635.61 in the previous period[22]. - Operating profit for the current period was -¥95,836,778.41, compared to -¥81,905,132.75 in the previous period, indicating a worsening performance[23]. - Net profit for the current period was -¥97,720,103.35, compared to -¥82,145,956.90 in the previous period, reflecting an increase in losses[23]. - The net profit attributable to the parent company's shareholders was -90,713,853.00 yuan, compared to -71,051,334.79 yuan in the previous period, indicating a worsening performance[24]. - The total comprehensive income amounted to -97,720,103.35 yuan, compared to -82,145,956.90 yuan in the previous period, reflecting a decline[24]. - The basic and diluted earnings per share were both -0.1477, compared to -0.1157 in the previous period, showing a decrease in earnings[24]. Cash Flow and Liquidity - The operating cash flow net amount for the year-to-date was ¥136,496,264.48, showing a significant increase of 220.38% compared to the previous year[10]. - The net cash flow from operating activities was 136,496,264.48 yuan, a significant improvement from -113,384,481.14 yuan in the previous period[26]. - Cash inflows from operating activities totaled 1,765,262,807.43 yuan, down from 1,966,663,337.45 yuan in the previous period, indicating a decline of approximately 10.2%[26]. - Cash and cash equivalents increased to ¥403,055,339.40 from ¥299,068,607.69, representing a growth of 34.7%[19]. - The cash and cash equivalents at the end of the period were 362,623,249.78 yuan, up from 80,058,165.68 yuan in the previous period, indicating a strong liquidity position[27]. - The net cash flow from financing activities was 61,966,730.54 yuan, an increase from 20,044,647.48 yuan in the previous period, suggesting improved financing conditions[27]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,523,058,081.63, an increase of 7.88% from the end of the previous year[5]. - Total liabilities increased to ¥1,541,336,737.94 from ¥1,168,291,107.04, marking a rise of 31.9%[20]. - Total assets reached ¥3,523,058,081.63, up from ¥3,265,772,322.13, indicating a growth of 7.9%[20]. - Non-current assets totaled ¥1,417,951,644.21, a decrease from ¥1,466,036,433.52, reflecting a decline of 3.3%[19]. - The company's total equity attributable to shareholders decreased by 5.20% to ¥1,905,828,595.83 compared to the end of the previous year[5]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 65,513, with no preferred shareholders having restored voting rights[12]. - The company plans to issue A-shares to its controlling shareholder, Guotou Zhongye Technology Co., Ltd., at a price of RMB 5.91 per share, raising up to RMB 1,088.65 million[15]. - Guotou Zhongye will subscribe for no more than 184,204,494 shares, and the funds will be used to replenish working capital and repay bank loans[15]. - The company distributed cash dividends totaling RMB 12,280,299.60 (including tax) for the 2024 fiscal year[16]. Investment and Performance Commitments - The company has completed performance commitments for its subsidiary, Jinling Seed Industry, with a total commitment amount of RMB 33 million for 2022-2024, achieving a net profit of RMB 33.8579 million during this period[16]. - The assessed value of Jinling Seed Industry's equity increased by RMB 16.564 million compared to the acquisition date, indicating a value appreciation of RMB 1.68747 million[16]. Other Financial Metrics - The financial expenses for the year-to-date were ¥3,365,463.90, an increase of 80.46% compared to the previous year, mainly due to higher interest expenses[9]. - The investment income decreased by 50.96% to ¥1,830,749.94, primarily due to reduced financial product returns[9]. - Cash outflows from investing activities were 78,734,300.76 yuan, compared to 754,817,301.58 yuan in the previous period, indicating a reduction in investment expenditures[26]. - Contract liabilities surged to ¥690,690,089.09 from ¥267,307,619.49, a significant increase of 158.4%[20].

苏州瀚川智能科技股份有限公司 2025 年第三季度报告 证券代码：688022 证券简称：瀚川智能 苏州瀚川智能科技股份有限公司 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。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 单位：元 币种：人民币 | | | 本报告期比 | | 年初至报告期 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期增 | 年初至报告期末 | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 178,452,169.37 | 283 ...

Financial Performance - The company's operating revenue for the third quarter was ¥1,062,451,390.21, a decrease of 7.24% compared to ¥1,145,320,353.78 in the same period last year[5] - Total profit increased by 132.65% to ¥1,151,474,331.45 from ¥494,931,596.64 year-on-year[5] - Net profit attributable to shareholders reached ¥772,190,579.11, up 136.40% from ¥326,651,699.53 in the previous year[5] - The net profit after deducting non-recurring gains and losses was ¥682,459,748.70, reflecting a 206.39% increase compared to the previous year's ¥222,743,697.15[5] - Basic earnings per share rose to ¥0.31, a 138.46% increase from ¥0.13 in the same quarter last year[5] - Diluted earnings per share increased due to a rise in net profit attributable to shareholders, reaching 76.00 RMB per share[10] - Earnings per share for the first three quarters of 2025 were CNY 0.44, compared to CNY 0.25 in the previous year[22] Cash Flow and Investments - The company reported a net cash flow from operating activities of -¥2,451,378,111.75, compared to -¥4,617,053,524.18 in the same period last year[5] - Net cash flow from operating activities significantly improved compared to the previous year, driven by a shift from "incremental expansion" to "quality enhancement" in business strategy[10] - Operating cash inflow for the first three quarters of 2025 was CNY 4,971,248,229.19, a decrease of 24.7% compared to CNY 6,610,116,158.10 in the same period of 2024[25] - The company reported a net cash outflow from operating activities of CNY 1.78 billion for the first three quarters of 2025, compared to a net outflow of CNY 4.27 billion in the same period of 2024[35] - Cash flow from investment activities generated a net inflow of CNY 3.65 billion in the first three quarters of 2025, contrasting with a net outflow of CNY 846.41 million in the same period of 2024[36] Assets and Liabilities - Total assets at the end of the reporting period were ¥86,521,736,378.86, representing a 0.78% increase from the previous year's ¥85,853,240,730.95[5] - Total liabilities increased to CNY 52,222,059,748.13 from CNY 51,345,049,819.74, reflecting a rise of 1.7%[17] - Non-current liabilities rose to CNY 29,128,323,670.21, an increase of 6.4% from CNY 26,428,625,632.50[17] - Total assets as of September 30, 2025, were CNY 38,690,626,561.93, a decrease from CNY 41,325,829,015.62 at the end of 2024[29] - Total liabilities decreased to CNY 24.03 billion in 2025 from CNY 26.67 billion in 2024, reflecting a reduction in financial obligations[30] Shareholder Information - Total number of ordinary shareholders at the end of the reporting period was 63,807[12] - The top 10 shareholders collectively hold 1,730,000,000 shares, representing 68.73% of total shares[12] - Shanghai Caohejing New Technology Development Company holds the largest share at 899,387,735 shares, accounting for 35.65%[12] Strategic Focus - The company aims to enhance its position as an integrated service provider in the innovation ecosystem, contributing to the significant growth in total profit this quarter[9] - The company is focusing on optimizing its business structure and enhancing management for sustainable development[10] - The company is committed to high-quality and sustainable growth through innovation and integrated services[10]

Financial Performance - The company's operating revenue for Q3 2025 was ¥284,655,596.61, a decrease of 16.14% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2025 was ¥19,175,910.58, down 65.07% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥15,114,503.64, a decline of 71.22% compared to the previous year[5]. - The basic earnings per share for Q3 2025 was ¥0.46, down 73.56% year-on-year[5]. - Total operating revenue for the current period is ¥1,007,511,536.47, a decrease of 5.1% from ¥1,061,502,084.55 in the previous period[21]. - Net profit for the current period is ¥123,842,836.01, down 36.0% from ¥194,043,308.59 in the previous period[22]. - The company reported a basic earnings per share of ¥3.42, down from ¥6.16 in the previous period[23]. Assets and Liabilities - The total assets at the end of Q3 2025 reached ¥2,638,339,523.20, an increase of 46.78% from the end of the previous year[5]. - The total current assets increased from CNY 1,701,596,525.84 to CNY 2,548,720,627.20, representing a growth of approximately 49.9%[16]. - Total liabilities decreased to ¥694,529,356.22 from ¥773,109,672.08, reflecting a reduction of 10.2%[19]. - The company’s total non-current liabilities decreased to ¥74,565,347.64 from ¥90,174,125.74, a decline of 17.3%[19]. - The total cash and cash equivalents at the end of the period decreased to 351,346,822.39 from 229,643,684.54, reflecting a net decrease of -351,222,014.83 in cash and cash equivalents[27]. Cash Flow - The net cash flow from operating activities for the year-to-date was -¥83,781,458.90, a significant decline of 862.28% compared to the same period last year[5]. - Cash inflow from operating activities was ¥623,604,582.63, down 5.6% from ¥660,923,685.45 in the previous period[25]. - Cash flow from operating activities showed a net outflow of -83,781,458.90, compared to -8,706,582.58 in the previous period, indicating a significant decline in operational cash generation[26]. - The net cash flow from financing activities was 797,203,367.17, a recovery from a net outflow of -3,948,512.26 in the prior period, driven by an increase in cash received from investments[27]. - The company reported a significant increase in cash paid to employees, rising to 120,386,783.05 from 105,344,854.14, indicating higher operational costs[26]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 11,356[11]. - The top two shareholders, Bai Jianguo and Deng Likuan, each hold 19.30% of the shares, totaling 8,107,800 shares[11]. - Shenzhen Youdian Industrial Partnership holds 11.01% of the shares, amounting to 4,624,800 shares[11]. - The top ten shareholders collectively hold a significant portion of the company's equity, with the largest shareholder holding 19.30%[11]. - The top ten unrestricted shareholders include various private equity funds and investment companies, indicating a diverse ownership structure[12]. Operational Insights - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[15]. - The company has not reported any new mergers or acquisitions during this period[15]. - There are no significant changes in the shareholder structure or restrictions on share sales reported[14]. - The company did not undergo an audit for the third quarter financial report, which may affect stakeholder confidence in the reported figures[28]. - The company plans to implement new accounting standards starting in 2025, which may impact future financial reporting[28].

Financial Performance - The company's operating revenue for Q3 2025 was ¥158,782,469.60, representing a year-on-year increase of 34.70%[3] - The total profit for the period was ¥11,794,849.69, which is an increase of 2.69% compared to the same period last year[3] - The net profit attributable to shareholders was ¥10,049,621.05, showing a decrease of 7.79% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥4,311,017.60, down 64.54% from the previous year[3] - Total operating revenue for the first three quarters of 2025 reached CNY 398,139,644, an increase of 15.4% compared to CNY 344,907,322.53 in the same period of 2024[20] - Net profit for the first three quarters of 2025 was CNY 14,558,050.57, a decrease of 66.8% compared to CNY 43,798,757.57 in the same period last year[21] - Basic earnings per share for the first three quarters of 2025 were CNY 0.0352, down from CNY 0.1059 in the previous year[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,587,627,105.80, an increase of 3.34% compared to the end of the previous year[4] - Total assets amounted to CNY 2,587,627,105.80, an increase from CNY 2,503,997,557.15 year-over-year[17] - Total liabilities increased to CNY 609,576,856.43, compared to CNY 560,301,581.99 in the previous year[17] - The company's equity attributable to shareholders reached CNY 1,978,050,249.37, up from CNY 1,943,695,975.16 year-over-year[17] Cash Flow - The cash flow from operating activities was negative at -¥22,914,582.48 for the year-to-date period, indicating a significant cash outflow[3] - Cash inflow from operating activities for the first three quarters of 2025 was $348.76 million, a slight increase from $340.16 million in the same period of 2024, representing a growth of approximately 1.8%[23] - The net cash flow from operating activities for the first three quarters of 2025 was -$22.91 million, an improvement compared to -$53.48 million in the first three quarters of 2024[23] - Cash inflow from investment activities increased significantly to $371.43 million in 2025 from $100.68 million in 2024, marking a growth of approximately 268.5%[24] - The net cash flow from investment activities for the first three quarters of 2025 was -$234.21 million, compared to -$190.07 million in the same period of 2024[24] - Cash outflow from financing activities decreased to $20.51 million in 2025 from $62.10 million in 2024, indicating a reduction of approximately 66.9%[24] - The total cash and cash equivalents at the end of the third quarter of 2025 stood at $590.80 million, down from $910.89 million at the end of the same period in 2024[24] Shareholder Information - Total number of common shareholders at the end of the reporting period is 6,800[12] - Hunan Meina Technology Co., Ltd. holds 40.07% of shares, totaling 165,963,600 shares[12] - Hunan Xingwang Construction Co., Ltd. holds 20.57% of shares, totaling 85,201,817 shares[12] Research and Development - Research and development expenses totaled ¥31,525,106.44, accounting for 19.85% of operating revenue, a decrease of 3.97 percentage points year-on-year[4] - Research and development expenses rose significantly to CNY 88,523,941.04, reflecting a 55.5% increase from CNY 56,951,926.49 in the previous year[20] Other Information - The company's cash and cash equivalents amount to ¥603,160,677.81 as of September 30, 2025, compared to ¥865,139,002.63 on December 31, 2024[15] - Total current assets are ¥1,693,430,287.13, slightly up from ¥1,690,144,152.75 in the previous period[15] - Inventory has increased to ¥430,789,628.99 from ¥360,446,794.01[15] - Accounts receivable rose to ¥331,419,848.61 from ¥275,183,407.46[15] - The company has no significant changes in major shareholders or their shareholding status due to margin trading[13] - The company has not reported any significant new strategies or market expansions in the current period[14] - There are no applicable audit opinions for the financial statements as they are unaudited[15] - Other comprehensive income after tax for the first three quarters of 2025 was CNY 962,751.30, down from CNY 2,229,917.53 in the same period last year[21] - The company received $1.43 million in investment income during the first three quarters of 2025, up from $0.68 million in 2024, reflecting a growth of approximately 110.5%[24] - The cash outflow for purchasing goods and services was $177.94 million in 2025, a decrease from $186.80 million in 2024, representing a decline of about 4.5%[23] - The company reported a cash inflow of $370 million from other investment activities in 2025, compared to $100 million in 2024, indicating a significant increase of 270%[24] - The impact of exchange rate changes on cash and cash equivalents was a positive $3.33 million in 2025, compared to a negligible $0.01 million in 2024[24]

Financial Performance - The company's operating revenue for Q3 2025 was ¥77,929,864.28, representing a 12.04% increase year-over-year, while the total revenue for the first three quarters reached ¥260,655,581.13, up 27.26% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2025 was -¥23,008,062.60, a decrease of 49.51% year-over-year, and the year-to-date net profit was -¥69,517,642.57, down 72.46% compared to the previous year[5]. - The company reported a net loss of ¥130,620,844.65, compared to a loss of ¥61,103,202.08 in the previous period, indicating a worsening financial position[22]. - The company reported a net loss of ¥69,517,642.39, compared to a net loss of ¥40,311,558.75 in the previous period, indicating an increase in losses of approximately 72.3%[24]. - Operating profit was recorded at -¥69,615,001.22, worsening from -¥36,177,482.35 in the prior period, reflecting a decline of about 92.5%[24]. - The company's basic and diluted earnings per share were both -¥0.5793, worsening from -¥0.3359 in the prior period[24]. Revenue and Costs - Total operating revenue for the current period reached ¥260,655,581.13, an increase of 27.3% compared to ¥204,818,772.96 in the previous period[23]. - Total operating costs amounted to ¥329,464,933.08, up 37.0% from ¥240,513,298.93 in the prior period[23]. - Operating costs increased by 44.77% to ¥234,245,961.84, primarily due to rising raw material costs in the Nanyang Changfeng slag micro-powder business and increased sales in the automotive electronics segment[14]. - Sales expenses rose by 36.84% to ¥21,357,538.98, mainly driven by increased market expansion and product promotion costs[14]. Cash Flow and Investments - The company's cash flow from operating activities showed a net outflow of -¥68,368,572.87 for the year-to-date, reflecting a 237.13% decrease compared to the previous year[5]. - Cash flow from operating activities showed a net outflow of -¥68,368,572.87, compared to -¥20,279,853.57 in the previous period, representing a deterioration of approximately 236.5%[25]. - Cash flow from investing activities yielded a net inflow of ¥11,925,671.91, down from ¥32,115,289.09 in the previous period, a decrease of approximately 62.9%[25]. - Cash flow from financing activities resulted in a net inflow of ¥42,079,734.72, compared to a net outflow of -¥4,514,720.04 in the previous period, indicating a significant turnaround[26]. - The company obtained loans totaling ¥49,202,783.34, a 394.67% increase compared to the previous period, indicating increased borrowing activity[14]. - The company received ¥49,202,783.34 in cash from borrowings, an increase from ¥9,946,600.00 in the previous period, reflecting a growth of approximately 394.5%[26]. Assets and Liabilities - Total assets at the end of the reporting period were ¥506,234,998.85, a decrease of 3.63% from the end of the previous year[5]. - Total assets decreased to ¥506,234,998.85 from ¥525,277,601.56, reflecting a decline of 3.0%[21]. - Current liabilities increased to ¥247,406,606.66, up 22.3% from ¥202,276,404.03 at the beginning of the period[21]. - The company's equity attributable to shareholders decreased by 20.07% year-over-year, amounting to ¥249,586,223.30[5]. - The total equity attributable to shareholders decreased to ¥249,586,223.30 from ¥312,249,971.32, a drop of 20.0%[22]. Research and Development - The company reported a significant increase in R&D investment, totaling ¥52,372,300 for the first three quarters, which is a 28.78% increase year-over-year[10]. - Research and development expenses increased to ¥52,372,287.07, representing a rise of 28.8% from ¥40,668,739.18 year-over-year[23]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 18,106, with no preferred shareholders[16][18]. - The largest shareholder, Zoomlion Heavy Industry Science & Technology Co., Ltd., holds 53.82% of the shares, totaling 64,584,000 shares[17]. Other Financial Metrics - The company experienced a 42.86% decrease in notes receivable, primarily due to a reduction in unexpired notes received at the end of the period[12]. - The company’s short-term borrowings increased by 96.44% to ¥59,528,910.78, mainly due to an increase in bank loans at the end of the period[12]. - Investment income decreased by 282.97% to -¥1,441,369.96, primarily due to investment losses from the disposal of subsidiaries[14]. - Cash received from sales of goods and services increased by 39.84% to ¥230,418,818.88, attributed to higher sales collections in the automotive electronics business[14]. - Tax refunds received increased by 137.19% to ¥15,490,010.52, mainly due to increased export business and corresponding tax refunds[14]. - Cash received from other operating activities rose by 31.35% to ¥4,290,560.11, primarily from government subsidies and interest subsidies[14]. - Cash flow from the disposal of fixed assets increased by 2603.44% to ¥2,182,244.31, due to increased proceeds from the disposal of fixed assets[14]. - The company reported a significant increase in accounts receivable, which fell to ¥45,611,745.19 from ¥75,422,170.92, a decrease of 39.5%[20]. - The company's cash and cash equivalents decreased slightly to ¥53,074,697.73 from ¥53,472,017.37, a decline of 0.7%[20]. - Inventory levels rose significantly to ¥109,061,245.29, an increase of 35.2% from ¥80,620,518.91[20]. - Total cash and cash equivalents at the end of the period decreased to ¥31,811,022.03 from ¥64,059,221.35, a decline of about 50.3%[26]. - The company incurred other comprehensive losses of -¥189,640.40, compared to -¥64,043.33 in the previous period, indicating a significant increase in losses[24].