证券代码：605303 证券简称：园林股份 杭州市园林绿化股份有限公司 2025 年第三季度报告 杭州市园林绿化股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、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 | 37,342,520.37 | -77.55 | ...

Financial Performance - The company's operating revenue for Q3 2025 reached ¥14,621,490,296.20, an increase of 11.42% compared to the same period last year[7] - The total profit for the period was ¥692,048,698.30, reflecting a growth of 11.47% year-on-year[7] - Net profit attributable to shareholders was ¥523,758,666.58, up 19.06% from the previous year[7] - The net profit excluding non-recurring gains and losses decreased by 43.12% year-on-year, amounting to ¥500,857,339.70[7] - Total operating revenue for the first three quarters of 2025 reached ¥37,965,444,214.52, an increase of 5.4% compared to ¥36,013,087,583.39 in the same period of 2024[24] - Operating profit for the first three quarters of 2025 was ¥2,805,150,019.29, compared to ¥2,067,345,588.03 in 2024, representing a growth of 35.7%[24] - Net profit for the first three quarters of 2025, after tax expenses of ¥499,741,419.29, totaled ¥2,267,266,647.40, compared to ¥1,717,912,263.03 in 2024[24] - The net profit for the first three quarters of 2025 reached CNY 2,267,266,647.40, an increase from CNY 1,717,912,263.03 in the same period of 2024, representing a growth of approximately 32%[25] - The net profit attributable to the parent company's shareholders was CNY 2,158,900,668.59, up from CNY 1,586,869,882.81, indicating a year-over-year increase of about 36%[25] - The total comprehensive income for the period was CNY 2,103,478,188.00, compared to CNY 2,260,176,699.98 in the previous year, reflecting a decrease of around 7%[25] Assets and Liabilities - The company's total assets increased by 7.54% to ¥82,271,086,374.24 compared to the end of the previous year[7] - Total assets increased to ¥82,271,086,374.24 in 2025 from ¥76,503,034,624.80 in 2024, marking a growth of 7.3%[21] - Total liabilities rose to ¥51,693,933,458.21 in 2025, up from ¥47,251,972,952.64 in 2024, indicating an increase of 9.2%[21] - Current assets totaled ¥16,395,717,067.95 in 2025, compared to ¥14,221,743,705.26 in 2024, reflecting a growth of 15.3%[21] - Long-term investments increased to ¥5,867,610,581.10 in 2025 from ¥5,582,479,746.09 in 2024, showing a rise of 5.1%[21] - The total assets as of the latest reporting period amounted to CNY 34,705,631,908.99, slightly up from CNY 34,536,102,281.77[33] - Total liabilities decreased to CNY 16,133,581,079.27 from CNY 16,964,401,636.77, reflecting a reduction of 4.9%[33] - The total equity increased to CNY 18,572,050,829.72 from CNY 17,571,700,645.00, marking a growth of 5.7%[33] Cash Flow - The cash flow from operating activities for the year-to-date was ¥4,749,373,269.12, reflecting a 27.14% increase compared to the previous year[7] - Operating cash flow for the first three quarters of 2025 was CNY 4,749,373,269.12, an increase from CNY 3,735,402,773.84 in 2024, marking a growth of approximately 27%[28] - Cash inflows from operating activities totaled CNY 43,141,842,567.23, compared to CNY 41,083,653,809.12 in the previous year, showing an increase of about 5%[28] - The company reported a net cash outflow from investing activities of CNY -6,535,408,704.85, worsening from CNY -2,422,281,229.22 in the same period last year[29] - The net cash flow from financing activities was CNY 1,602,927,472.79, a significant improvement compared to CNY -85,123,595.49 in the previous year[30] - As of September 30, 2025, the company's cash and cash equivalents totaled CNY 4,301,049,906.58, down from CNY 7,358,690,155.09 at the end of 2024[30] - The company's cash inflow from operating activities for the first three quarters of 2025 was CNY 23,825,378.22, down from CNY 38,499,253.91 in the same period of 2024[39] - The net cash flow from operating activities was -$93.86 million, compared to -$73.31 million in the previous period, indicating a decline in operational cash generation[40] - Total cash inflow from investment activities was $3.04 billion, down from $3.98 billion year-over-year, reflecting a decrease in investment returns[40] - The net cash flow from investment activities improved to $420.38 million, compared to a loss of $47.85 million in the previous period, showing a positive turnaround[40] - Cash inflow from financing activities was $5.90 billion, down from $8.95 billion, indicating reduced borrowing[40] - The net cash flow from financing activities was -$999.43 million, a significant decline from a positive $1.22 billion in the previous period, suggesting increased cash outflows for debt repayment[40] - The ending cash and cash equivalents balance decreased to $455.38 million from $2.18 billion, indicating a substantial reduction in liquidity[40] - Total cash outflow from operating activities was $155.97 million, compared to $137.14 million, reflecting increased operational expenses[40] - Cash paid for other investment activities was $2.45 billion, down from $4.00 billion, indicating a reduction in investment spending[40] - Cash received from the disposal of fixed assets was $608.78 million, significantly higher than $304.39 million in the previous period, showing improved asset management[40] Shareholder Information - The total number of common shareholders at the end of the reporting period is 50,343[14] - Guangzhou Industrial Investment Holding Group Co., Ltd. holds 57.94% of shares, totaling 2,031,641,163 shares[14] - The company plans to unlock 7,115,017 restricted stocks as part of its incentive plan[17] Strategic Focus - The company is focusing on building a leading green and low-carbon comprehensive intelligent energy enterprise group in China[3] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[26] Investment and Compensation - The company has signed a compensation agreement for land acquisition with the local government, with an expected compensation amount of RMB 508 million[16] - The company has received partial compensation payments related to the land acquisition agreement[16] - Investment income from joint ventures and associates decreased by 44.40%, attributed to declining profits in these entities[11] - The company reported an investment income of CNY 881,685,264.75 for the first three quarters of 2025, down from CNY 1,094,178,823.48 in the same period of 2024[36] Research and Development - Research and development expenses for the first three quarters of 2025 were CNY 28,515.02, a significant decrease from CNY 328,865.13 in the previous year[36] Accounting Practices - The company will not apply new accounting standards starting in 2025, maintaining current reporting practices[41]

岭南生态文旅股份有限公司 2025 年第三季度报告 证券代码：002717 证券简称：ST 岭南 公告编号：2025-124 岭南生态文旅股份有限公司 2025 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导 性陈述或重大遗漏，并承担个别和连带的法律责任。 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 岭南生态文旅股份有限公司 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 | 减：所得税影响额 | -1,568,849.16 | -1,634,251.66 | | | --- | --- | --- | --- | | 少数股东权益影响额（税 后） | 15,232.08 | 9,438.32 | | | 合计 | -4,473,953.30 | -4,314,898.43 | - ...

Financial Performance - The company's operating revenue for the third quarter reached ¥6,551,419,001.71, an increase of 25.01% compared to the same period last year[4] - The total profit for the third quarter was ¥769,345,569.31, a decrease of 7.52% year-on-year[4] - The net profit attributable to shareholders was ¥156,461,433.66, down 77.09% from the previous year[4] - The basic earnings per share for the third quarter was ¥0.0521, a decrease of 82.92% compared to the same period last year[4] - The company reported a significant increase in total profit for the year-to-date period, up 107.92% due to increased revenue recognition and a rise in the value of trading financial assets[9] - The net profit attributable to shareholders for the year-to-date period was ¥764,828,507.99, reflecting a 40.24% increase year-on-year[4] - The company experienced a substantial decline in net profit attributable to shareholders in the third quarter due to fluctuations in the value of trading financial assets[9] - Total operating revenue for the first three quarters of 2025 reached CNY 19.31 billion, a significant increase from CNY 11.76 billion in the same period of 2024, representing a growth of approximately 64.5%[20] - Net profit for the first three quarters of 2025 was CNY 894.49 million, up from CNY 392.57 million in 2024, reflecting a growth of approximately 128.3%[21] - The operating profit for the first three quarters of 2025 was CNY 1.51 billion, compared to CNY 728.69 million in 2024, indicating an increase of about 106.5%[21] - Basic earnings per share for the first three quarters of 2025 were CNY 0.2985, up from CNY 0.1918 in 2024, reflecting an increase of approximately 55.7%[22] - The company reported a significant increase in investment income, reaching CNY 423.30 million, compared to a loss of CNY 197.72 million in the previous year[21] - The company’s total comprehensive income for the first three quarters of 2025 was ¥1,115,899,785.00, compared to ¥582,775,454.42 in 2024, showing an increase of approximately 91.5%[30] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was ¥6,116,839,269.77, an increase of 47.87%[4] - Operating cash flow for the first three quarters of 2025 reached CNY 6,116,839,269.77, an increase of 47.9% compared to CNY 4,136,614,373.60 in the same period of 2024[24] - The company reported a net increase in cash and cash equivalents of CNY 790,338,853.39 for the first three quarters of 2025, compared to a decrease of CNY 3,745,878,983.48 in the same period of 2024[25] - The company’s cash and cash equivalents at the end of September 2025 were CNY 10,569,675,709.27, up from CNY 9,833,751,592.27 at the end of 2024[25] - The cash and cash equivalents at the end of the period were ¥3,438,577,391.10, up from ¥1,119,374,194.19 in 2024, indicating a significant increase in liquidity[33] Assets and Liabilities - Total assets at the end of the reporting period were ¥109,395,940,777.09, a decrease of 10.50% from the end of the previous year[5] - The total current assets amount to ¥89,519,615,683.42, a decrease from ¥103,061,663,314.08 in the previous period[16] - Long-term equity investments increased to ¥4,305,443,676.88 from ¥3,667,146,647.57[16] - The company's total assets amounted to CNY 109.40 billion, a decrease from CNY 122.23 billion in the previous period[18] - Total liabilities decreased to CNY 84.11 billion from CNY 97.81 billion, showing a reduction of about 13.9%[18] - The company's total liabilities as of September 30, 2025, were CNY 32,051,615,164.67, down from CNY 32,653,847,846.21 at the end of 2024[26] - Current liabilities totaled CNY 7,200,042,197.17 as of September 30, 2025, compared to CNY 5,080,682,765.10 at the end of 2024, indicating a significant increase[26] - Long-term liabilities decreased to CNY 24,851,572,967.50 from CNY 27,573,165,081.11 year-over-year[26] Shareholder Information - Total number of common shareholders at the end of the reporting period is 47,627[12] - Beijing Urban Construction Group Co., Ltd. holds 944,663,261 shares, representing 45.5% of total shares[12] - The company has no significant changes in the top 10 shareholders or their shareholding status[13] - The company has not engaged in any share lending or borrowing activities during the reporting period[13] Operational Updates - There are no significant reminders for investors regarding the company's operational situation during the reporting period[14] - The company has no significant changes in the top 10 shareholders or their shareholding status[13]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥874,272,780.29, representing a year-on-year increase of 13.43%[3] - Total profit for the quarter was ¥161,307,039.69, up 51.46% compared to the same period last year[3] - Net profit attributable to shareholders was ¥142,006,780.27, reflecting a 45.30% increase year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥132,107,389.51, an increase of 38.25% from the previous year[3] - Total operating revenue for the first three quarters of 2025 reached ¥2,545,040,722.50, an increase of 14.85% compared to ¥2,215,083,356.30 in the same period of 2024[16] - Operating profit for the first three quarters of 2025 was ¥506,943,908.68, compared to ¥389,098,019.40 in 2024, representing a growth of 30.25%[17] - Net profit attributable to shareholders of the parent company for the first three quarters of 2025 was ¥450,673,830.55, an increase of 30.54% from ¥345,177,417.97 in 2024[18] - The company reported a total comprehensive income of ¥427,395,288.63 for the first three quarters of 2025, compared to ¥338,650,559.54 in 2024, marking a rise of 26.23%[18] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.67, up from ¥0.59 in the same period of 2024[18] Assets and Liabilities - The company's total assets increased by 23.26% year-on-year, reaching ¥23,445,107,898.71[4] - As of September 30, 2025, the total assets of the company reached ¥23,445,107,898.71, an increase from ¥19,021,477,349.64 as of December 31, 2024, representing a growth of approximately 23.5%[13] - The company's current assets totaled ¥11,491,267,292.36, up from ¥7,386,914,396.78, indicating a significant increase of about 55.5%[13] - Total liabilities decreased from ¥3,530,118,757.92 to ¥1,655,968,953.74, a reduction of approximately 53%[14] - The total liabilities decreased from ¥3,920,405,139.91 to ¥2,228,171,696.00, indicating a reduction of approximately 43.2%[15] - Total equity increased from ¥15,101,072,209.73 to ¥21,216,936,202.71, reflecting a growth of about 40.5%[15] Cash Flow - The net cash flow from operating activities for the year-to-date decreased by 59.60%, totaling ¥273,093,222.24[3] - Operating cash inflow from sales increased to $2.27 billion, up from $2.12 billion, representing a growth of approximately 7.1% year-over-year[21] - Net cash flow from operating activities decreased to $273.09 million, down from $676.02 million, a decline of about 59.6%[21] - Cash outflow from investment activities totaled $3.79 billion, compared to $643.95 million in the previous period, indicating a significant increase in investment spending[22] - Net cash flow from financing activities was $4.07 billion, a substantial improvement from a net outflow of $413.68 million previously[22] - The ending cash and cash equivalents balance rose to $8.06 billion, compared to $4.63 billion at the end of the previous period, reflecting a net increase of $2.88 billion[22] - Cash received from other investment activities surged to $2.31 billion, compared to $30 million previously, highlighting a strong influx of cash[21] - Cash paid for the acquisition of fixed assets was $546.10 million, down from $643.95 million, indicating a reduction in capital expenditures[22] - The company reported a cash outflow of $2.11 billion for debt repayment, which increased from $1.56 billion, indicating higher debt servicing costs[22] Research and Development - Research and development expenses amounted to ¥55,368,239.91, a decrease of 19.45% from the same period last year, accounting for 6.33% of operating revenue[4] Shareholder Information - The company has not reported any significant changes in shareholder relationships or actions during the reporting period[11] - The company completed a private placement of shares, significantly increasing its capital base and reserves[7] Other Financial Metrics - The company's long-term investments increased to ¥151,236,089.55 from ¥133,780,523.31, showing a growth of about 13.1%[13] - The non-current assets totaled ¥11,953,840,606.35, up from ¥11,634,562,952.86, indicating a growth of approximately 2.8%[14] - The company's accounts receivable increased to ¥326,398,766.48 from ¥247,221,432.01, reflecting a growth of about 32%[13] - Deferred income decreased from ¥389,286,381.99 to ¥374,249,053.44, a decline of approximately 3.85%[15] - The company's cash flow statement for the first three quarters of 2025 is currently unaudited, indicating ongoing financial assessments[19] - The impact of exchange rate changes on cash and cash equivalents was a decrease of $25.49 million, slightly improved from a decrease of $28.14 million previously[22]

2025 年第三季度报告 证券代码：000166 证券简称：申万宏源 公告编号：2025-93 申万宏源集团股份有限公司 2025 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.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.公司法定代表人、执行董事、总经理黄昊先生，财务总监任全胜女士及计 划财务部负责人刘智祥先生声明：保证季度报告中财务信息的真实、准确、完整。 3.本季度报告经公司第六届董事会第十一次会议审议通过。会议应参加表决 董事 11 人，实际参加表决董事 11 人。 4.公司第三季度报告是否经过审计 □是 √否 5.审计师发表非标意见的事项 □适用 √不适用 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 单位：元 币种：人民币 1 2025 年第三季度报告 | 项目 | 本报告期 | 上年同期 | | 本报告期 比上年同 | 期增减（%） 年初至报告期末 ...

Financial Performance - The company's operating revenue for the third quarter was ¥22,115,731.66, a decrease of 44.00% compared to the same period last year[6]. - The net profit attributable to shareholders was -¥31,724,557.32, representing a decline of 218.88% year-on-year[6]. - The net loss attributable to shareholders for the first three quarters reached -¥64,602,546.53, a decline of 138.95% compared to the same period last year[6]. - Total operating revenue for the period was CNY 76,630,815.88, a decrease of 39.5% compared to CNY 126,568,043.29 in the previous period[27]. - Net loss for the period was CNY 99,060,292.10, compared to a net loss of CNY 29,569,681.91 in the previous period, representing an increase in loss of 235.5%[28]. - Basic and diluted earnings per share were both CNY -0.2863, compared to CNY -0.1198 in the previous period[28]. Cash Flow - The net cash flow from operating activities was -¥16,449,559.31, a decrease of 259.81% compared to the previous year[6]. - Net cash flow from operating activities was -$16.45 million, worsening from -$4.57 million year-over-year[30]. - Cash inflow from investment activities was $1.51 million, down from $2.45 million[30]. - Cash outflow from investment activities reached $57.62 million, significantly higher than $13.13 million last year[30]. - Net cash flow from investment activities was -$56.12 million, compared to -$13.13 million previously[30]. - Cash inflow from financing activities totaled $63.88 million, up from $40.50 million year-over-year[31]. - Net cash flow from financing activities was -$14.08 million, an improvement from -$25.90 million year-over-year[31]. - Ending cash and cash equivalents balance was $48.87 million, down from $94.71 million at the beginning of the period[31]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,466,968,576.90, a slight increase of 0.21% from the end of the previous year[6]. - Total liabilities amounted to CNY 406,450,355.43, up from CNY 307,398,719.85 in the previous period[26]. - Total equity attributable to shareholders of the parent company decreased to CNY 1,064,438,043.76 from CNY 1,129,040,590.29[26]. - Non-current liabilities totaled CNY 60,966,706.72, down from CNY 103,246,134.24 in the previous period[26]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 30,995[19]. - The largest shareholder, You Zhisheng, holds 9.13% of shares, equating to 20,589,033 shares[19]. - The top ten shareholders hold a combined total of 43.37% of the company's shares, indicating a concentrated ownership structure[20]. Research and Development - Research and development expenses increased by 40.38% year-on-year, amounting to an additional ¥1,089,690.00, reflecting increased investment in R&D activities[14]. - Research and development expenses rose to CNY 37,883,643.82, an increase of 40.5% from CNY 26,986,752.05 in the prior period[27]. Acquisitions and Investments - The company reported a significant increase in goodwill of ¥62,677,200.00, a growth of 2,682.37%, primarily due to the acquisition of Chengdu Hanbode Technology Co., Ltd.[8]. - The company acquired a 70% stake in Chengdu Hanbode Information Technology Co., Ltd. for cash, which will be consolidated into the financial statements[23]. - The company plans to establish Sichuan Zhisheng Shengyuan Technology Co., Ltd. with a registered capital of 10 million CNY, holding a 51% stake[21]. Risk Factors - The company is under a delisting risk warning due to financial performance criteria not being met, with potential implications for stock trading in 2025[24].

交通银行股份有限公司（以下简称"交通银行"或"本行"）董事会及全体董事保证本 公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和 完整性承担法律责任。 股票代码：601328 股票简称：交通银行 交通银行股份有限公司 2025 年第三季度报告 重要内容提示： 本行董事会及董事、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。 本行第十一届董事会第二次会议于 2025 年 10 月 30 日审议批准了本行及 附属公司（"本集团"）2025 年第三季度报告。 本行负责人任德奇先生、主管会计工作负责人周万阜先生及会计机构负 责人马泽泉先生保证季度报告中财务信息的真实、准确、完整。 本季度报告中的财务报表未经审计。 一、主要财务数据 （一）主要会计数据和财务指标 截至 2025 年 9 月 30 日（"报告期末"），本集团按照中国会计准则要求编 制的主要会计数据和财务指标如下： 1 | 主要会计数据 | 2025 年 9 | 月 30 日 | 2024 年 12 月 31 日 | 增减(%) | | --- | --- ...

Financial Performance - The company's operating revenue for the third quarter was ¥194,789,384.79, a decrease of 66.56% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥109,680,680.96, representing an increase in loss of 68.76% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥106,415,957.76, a 69.68% increase in loss compared to the previous year[5]. - The basic and diluted earnings per share were both -¥0.31, reflecting a 36.73% increase in loss year-on-year[5]. - Total operating revenue for the current period is ¥603,797,882.74, a significant decrease from ¥1,873,677,132.31 in the previous period, representing a decline of approximately 67.8%[38]. - Operating profit for the current period is reported at -¥495,533,174.95, compared to -¥785,360,043.13 in the previous period, showing an improvement of approximately 36.9%[39]. - Net profit for the current period stands at -¥521,278,206.62, which is an improvement from -¥792,073,695.94 in the previous period, reflecting a reduction in losses of about 34.2%[39]. - The net profit attributable to the parent company was -¥506,066,707.19, compared to -¥795,295,270.30 in the previous period, indicating an improvement[40]. - The total comprehensive income attributable to the parent company was -¥506,066,707.19, compared to -¥795,295,270.30 in the previous period[40]. - The basic and diluted earnings per share were both -¥0.69, an improvement from -¥1.11 in the previous period[40]. Cash Flow and Assets - The company's cash flow from operating activities showed a net outflow of -¥40,429,043.03, with an increase in outflow of 83.15% year-on-year[5]. - Cash inflows from operating activities totaled ¥859,169,145.21, down from ¥2,214,485,069.23 in the previous period[41]. - The net cash flow from operating activities was -¥40,429,043.03, compared to -¥239,880,079.32 in the previous period, showing a reduced loss[42]. - The net cash flow from investing activities was -¥12,700,041.11, compared to -¥2,191,690.95 in the previous period[42]. - The net cash flow from financing activities was -¥10,634,458.66, compared to -¥125,898,117.41 in the previous period[43]. - The cash and cash equivalents at the end of the period were ¥101,237,161.27, down from ¥138,908,591.26 in the previous period[43]. - The company has a total of 151,028,758.91 yuan in cash at the end of the reporting period, down from 236,892,033.01 yuan at the beginning[34]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 25,126[29]. - The largest shareholder, Zhuang Xiaohong, holds 10.34% of shares, totaling 99,413,198 shares, which are frozen[29]. - The second-largest shareholder, Zhuang Zhannuo, holds 5.41% of shares, totaling 51,959,470 shares, which are also frozen[29]. - The top ten shareholders hold a significant portion of shares, with the largest three shareholders alone accounting for over 17% of total shares[29]. Restructuring Efforts - The company is in the process of selecting restructuring investors to protect the interests of all creditors[30]. - A restructuring investment agreement has been signed with Shanghai Hengcan Enterprise Management Consulting Co., Ltd. and Shanghai Kangheng Environment Co., Ltd.[31]. - The first creditors' meeting for the restructuring was held on October 14, 2025[32]. - The company has received a court ruling to accept the restructuring application, indicating ongoing financial difficulties[31]. - The company is actively engaging with creditors to facilitate the restructuring process and maximize recovery[30]. Research and Development - The company's research and development expenses decreased by 90.13% compared to the previous year, indicating reduced investment in R&D projects[21]. - Research and development expenses for the current period are reported at ¥3,797,919.47, a substantial decrease from ¥38,462,022.16 in the previous period, indicating a reduction of approximately 90.1%[39]. Operational Costs - The company experienced a 71.97% decrease in operating costs, attributed to a reduction in business volume[19]. - Total operating costs for the current period amount to ¥879,750,099.25, down from ¥2,496,818,809.79 in the previous period, indicating a reduction of about 64.8%[39]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,780,748,442.88, a decrease of 5.41% from the end of the previous year[5]. - Total current assets amount to ¥4,261,328,318.57, a decrease from ¥4,582,547,569.58 in the previous period, representing a decline of approximately 7.0%[36]. - Total liabilities are reported at ¥4,437,839,782.02, down from ¥5,079,353,723.68 in the previous period, indicating a reduction of about 12.7%[36]. - The company's equity attributable to shareholders increased to ¥1,419,842,127.37 from ¥1,094,830,790.13, marking an increase of approximately 29.6%[36]. - The company has reported a significant increase in accounts receivable, totaling ¥1,488,660,584.60, compared to ¥1,686,234,211.02 in the previous period, reflecting a decrease of about 11.7%[36]. - The company’s inventory has increased to ¥667,089,346.22 from ¥524,028,316.24, representing an increase of about 27.4%[36]. Other Information - The company reported a decrease in cash inflows from sales of goods and services, totaling ¥740,917,628.93 compared to ¥2,013,486,823.81 in the previous period[41]. - The company did not conduct any audited financial report for the third quarter[43].

Financial Performance - The company's operating revenue for Q3 2025 was ¥213,255,740.57, a decrease of 15.72% compared to the same period last year[5] - The net profit attributable to shareholders was -¥2,658,745.89, representing a decline of 120.54% year-on-year[5] - The basic earnings per share were -¥0.0031, down 120.13% from the previous year[5] - Total operating revenue decreased to ¥526,891,688.79 from ¥635,030,298.87, representing a decline of approximately 17.1% year-over-year[30] - Net profit for the period was a loss of ¥31,025,238.07 compared to a profit of ¥28,681,678.30 in the previous period, indicating a substantial decline[31] - Total comprehensive income for the period was -¥38,291,121.64, a significant drop from ¥30,221,773.21 in the prior year[32] - The company experienced a total loss of ¥28,257,351.48 in profit before tax, compared to a profit of ¥31,302,613.93 in the previous period[31] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,453,688,194.93, a decrease of 2.92% from the end of the previous year[5] - The company's total liabilities as of September 30, 2025, were CNY 1,042,562,022.36, down from CNY 1,054,436,349.33, indicating a reduction of about 1.1%[29] - The company's cash and cash equivalents decreased to CNY 125,287,409.13 from CNY 147,693,180.87, representing a decline of approximately 15.2%[27] - Accounts receivable fell to CNY 27,073,537.72 from CNY 39,169,433.88, a decrease of about 30.9%[27] - Inventory increased to CNY 57,657,756.69 from CNY 50,753,348.55, marking an increase of approximately 13.5%[27] - The company's total equity decreased to CNY 411,126,172.57 from CNY 443,047,294.21, reflecting a decline of about 7.2%[29] Research and Development - Research and development expenses increased by ¥606,000, or 108.60%, compared to the same period last year[9] - Research and development expenses increased significantly to ¥11,646,500.56 from ¥5,583,042.65, marking a rise of approximately 108.5% year-over-year[31] Cash Flow - The company reported a net cash flow from operating activities of -¥10,146,191.88, a decrease of 123.56% year-to-date[5] - The net cash flow from operating activities was negative at -¥10,146,191.88, a decrease from a positive cash flow of ¥43,066,291.87 in the prior year[34] - Cash and cash equivalents at the end of the period stood at ¥110,286,409.13, down from ¥152,382,007.24, reflecting a decrease of approximately 27.6%[34] Legal and Regulatory Issues - The company has disclosed multiple legal proceedings and updates related to the Jin Haitang case, with various court documents filed from 2020 to 2024[15] - The company has reported that it is in communication with the executing party and the Shanghai Financial Court regarding the Jin Haitang asset management case[16] - The company has faced asset freezes due to disputes with Zhejiang Zheshang Asset Management Co., Ltd. and Wenzhou Bank Co., Ltd.[21] - The company has not yet fulfilled its repayment obligations to Zhejiang Zheshang Asset Management Co., Ltd. and is exploring solutions to address its debt issues[21] - The company has disclosed that it has received a debt transfer notification from Zhejiang Zheshang Asset Management Co., Ltd. to Zhejiang Zheba Xianv Lake Enterprise Management Partnership[19] - The company has reported on the freezing of bank accounts and assets of its subsidiaries, with updates provided on various dates in 2023[18] Shareholder and Equity Changes - The total equity attributable to shareholders was ¥364,359,479.58, down 8.46% from the end of the previous year[5] - The number of ordinary shareholders at the end of the reporting period was 46,198[12] - The first major shareholder, 汇垠日丰, has become the sole trustee of a specific asset management plan, indicating a shift in control dynamics[23] - The company is actively preparing a detailed equity change report following recent court rulings affecting its control structure[24] - The company is actively seeking to negotiate with creditors regarding debt relief, extension, installment repayment, and financing replacement options[21] Investor Advisory - The company reminds investors to be aware of investment risks and to invest rationally[17] - Investors are advised to remain cautious and rational in their investment decisions due to ongoing uncertainties surrounding the company's control and financial performance[25]