Financial Performance - The company's operating revenue for the third quarter was approximately CNY 2.54 billion, a decrease of 2.55% compared to the same period last year[5]. - The total profit for the quarter was approximately CNY 308.58 million, reflecting an increase of 5.67% year-on-year[5]. - The net profit attributable to shareholders was approximately CNY 286.53 million, up by 5.52% compared to the previous year[5]. - The net profit after deducting non-recurring gains and losses was approximately CNY 235.45 million, an increase of 8.78% year-on-year[5]. - The basic earnings per share for the quarter was CNY 0.36, a decrease of 22.73% compared to the same period last year[6]. - The net profit for the first three quarters of 2025 is CNY 682.74 million, a decrease of 22.7% compared to CNY 883.81 million in the same period of 2024[18]. - The total comprehensive income for the first three quarters of 2025 is CNY 689.27 million, down from CNY 890.59 million in the previous year, representing a decline of 22.6%[19]. - The basic and diluted earnings per share for the first three quarters of 2025 are both CNY 0.85, compared to CNY 1.10 in the same period of 2024, reflecting a decrease of 22.7%[19]. Cash Flow and Investments - The cash flow from operating activities for the year-to-date was approximately CNY 538.74 million, down by 29.60% compared to the previous year[6]. - The net cash flow from operating activities for the first three quarters of 2025 is CNY 538.74 million, down 29.6% from CNY 765.29 million in the previous year[21]. - Cash received from sales of goods and services in the first three quarters of 2025 is CNY 6.12 billion, a slight decrease of 1.7% from CNY 6.23 billion in the same period of 2024[20]. - The cash outflow from investing activities in the first three quarters of 2025 is CNY 379.23 million, significantly lower than CNY 1.71 billion in the previous year, indicating a reduction in investment spending[21]. - The cash flow from financing activities in the first three quarters of 2025 shows a net outflow of CNY 868.07 million, compared to a net outflow of CNY 628.09 million in the same period of 2024, indicating increased financing costs[21]. - The company reported a decrease in interest expenses from CNY 35.13 million in 2024 to CNY 27.51 million in 2025, a reduction of 21.7%[18]. - The total revenue from investment income for the first three quarters of 2025 is CNY 167.04 million, slightly down from CNY 174.13 million in the previous year[18]. Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 19.22 billion, a decrease of 0.28% from the end of the previous year[6]. - Current assets totaled CNY 14,575,323,032.21 as of September 30, 2025, compared to CNY 13,393,420,508.67 at the end of 2024, indicating an increase of 8.81%[14]. - Total liabilities decreased to CNY 5,510,394,208.21 as of September 30, 2025, from CNY 5,835,631,916.59 at the end of 2024, a reduction of 5.57%[15]. - The total assets as of September 30, 2025, were CNY 19,224,892,487.06, slightly down from CNY 19,278,878,115.70 at the end of 2024, a decrease of 0.28%[15]. - Shareholders' equity increased to CNY 13,714,498,278.85 as of September 30, 2025, compared to CNY 13,443,246,199.11 at the end of 2024, reflecting an increase of 2.01%[16]. - The equity attributable to shareholders was approximately CNY 13.71 billion, an increase of 2.02% compared to the end of the previous year[6]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 39,420[11]. Research and Development - Research and development expenses increased to CNY 126,382,191.36 in 2025 from CNY 111,298,858.70 in 2024, representing a growth of 13.56%[17]. Inventory and Accounts Receivable - Inventory as of September 30, 2025, was CNY 1,428,096,045.25, up from CNY 1,193,129,093.95 at the end of 2024, marking a significant increase of 19.66%[14]. - The company reported accounts receivable of CNY 1,219,808,474.66 as of September 30, 2025, compared to CNY 1,037,963,743.02 at the end of 2024, an increase of 17.52%[14]. Company Strategy - The company has not reported any new product launches or significant market expansion strategies during this period[22].

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。 浙江中国轻纺城集团股份有限公司 2025 年第三季度报告 证券代码：600790 证券简称：轻纺城 浙江中国轻纺城集团股份有限公司 2025 年第三季度报告 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 | 214,627,523.94 | -12. ...

Financial Performance - The company's operating revenue for the third quarter was ¥200,403,378.17, a decrease of 11.68% compared to the same period last year[4] - The net profit attributable to shareholders was ¥3,963,789.12, an increase of 110.78% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥24,903,631.78, up 167.72% from the previous year[4] - The basic earnings per share for the quarter was ¥0.01, reflecting a 120.00% increase year-on-year[4] - Total operating revenue for the first three quarters of 2025 was approximately ¥496.83 million, a decrease of 24.5% compared to ¥657.47 million in the same period of 2024[23] - The net loss attributable to shareholders for the first three quarters of 2025 was approximately ¥102.92 million, compared to a loss of ¥109.48 million in the same period of 2024, indicating an improvement of 6.4%[24] - The total comprehensive income attributable to the parent company was -102,923,846.07 CNY, compared to -109,477,299.07 CNY in the previous year[25] - Basic and diluted earnings per share were both -0.14 CNY, slightly improved from -0.15 CNY in the previous year[25] Cash Flow - The net cash flow from operating activities was ¥53,540,600.26, an increase of 96.83% compared to the same period last year[4] - The company experienced a decrease in cash flow from operating activities year-to-date, attributed to reduced collections and fixed expenses not decreasing proportionately[10] - The net cash flow from operating activities was 111,733,476.24 CNY, down from 185,302,843.90 CNY year-over-year[25] - Cash inflow from operating activities totaled 977,415,910.73 CNY, an increase from 820,189,805.78 CNY in the same period last year[25] - The net cash flow from investing activities was -2,322,248.42 CNY, compared to -16,719,899.20 CNY in the previous year[26] - Cash inflow from financing activities was 5,000,000.00 CNY, significantly lower than 249,912,534.18 CNY in the previous year[26] - The net cash flow from financing activities was -23,558,150.79 CNY, compared to -229,375,530.27 CNY in the previous year[26] - The ending cash and cash equivalents balance was 124,532,103.73 CNY, up from 35,174,935.48 CNY year-over-year[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,810,172,648.62, a decrease of 4.94% from the end of the previous year[5] - The company's total assets as of September 30, 2025, were approximately ¥3.81 billion, a slight decrease from ¥4.01 billion at the end of 2024[20] - Current assets totaled approximately ¥616.81 million as of September 30, 2025, compared to ¥596.46 million at the end of 2024, showing an increase of 3.5%[20] - Total liabilities decreased to approximately ¥2.80 billion as of September 30, 2025, from ¥2.87 billion at the end of 2024, reflecting a reduction of 2.5%[20] Shareholder Information - Shareholders' equity attributable to the parent company was ¥823,399,191.00, down 11.14% compared to the previous year[5] - The total number of common shareholders at the end of the reporting period is 13,452[12] - The largest shareholder, Dongfang Shishang Investment Co., Ltd., holds 106,141,600 shares, accounting for 14.85% of total shares[12] - The second-largest shareholder, Xinyu Runfang Investment Management Center, holds 73,116,000 shares, representing 10.23% of total shares[12] - The total shares held by Dongfang Shishang Investment and its concerted actions amount to 106,391,600 shares, or 14.88% of total shares[16] Non-Recurring Items - The company recorded a non-recurring loss of ¥20,939,842.66 for the period, primarily due to asset disposal losses and other non-recurring expenses[8] - The company received funds of ¥387 million from the controlling shareholder, which positively impacted the net profit for the period[9] Restructuring and Governance - The company is currently undergoing a pre-restructuring process as initiated by the Beijing First Intermediate People's Court on July 10, 2025[16] - A total of 1,000,000 shares held by the controlling shareholder were successfully auctioned on January 7-8, 2025, but the transfer has not yet been completed[14] - An additional 56,491,600 shares were auctioned on September 11-12, 2025, with the transfer still pending[15] - The actual controller, Xu Xiong, directly holds 250,000 shares, which is 0.03% of the total shares[16] - The company is actively cooperating with the temporary administrator to advance the pre-restructuring work, including debt claims and audits[16] - The company has not reported any changes in the top 10 shareholders due to securities lending activities[14] Research and Development - Research and development expenses were not reported for the first three quarters of 2025, compared to ¥9.12 million in the same period of 2024[23] Credit Impairment - The company reported a credit impairment loss of approximately ¥44.23 million in the first three quarters of 2025, compared to a loss of ¥28.18 million in 2024[24] Accounting Standards - The company did not apply new accounting standards starting from 2025[27]

重要内容提示： 亚士创能科技（上海）股份有限公司 2025 年第三季度报告 证券代码：603378 证券简称：亚士创能 亚士创能科技（上海）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。 1 / 12 单位：元 币种：人民币 亚士创能科技（上海）股份有限公司 2025 年第三季度报告 公司董事会及董事、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。 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 | 量净额 | | | | | | --- | --- | --- | --- | --- | | 基本每股收益（元/股） | -0.28 | 不适用 | -0.73 | 不适用 | | 稀释每股收益（元/股） | -0.28 | 不适用 | -0.73 | 不适用 | | 加权 ...

Financial Performance - The total operating revenue for Q3 2025 was CNY 43,544.48 million, representing a year-on-year increase of 2.77%[3] - The net profit attributable to shareholders was CNY 2,774.48 million, showing a decrease of 13.07% compared to the same period last year[3] - The basic earnings per share for the quarter was CNY 0.11, down by 8.33% year-on-year[4] - The total profit for the quarter was CNY 4,021.39 million, with a year-on-year increase of 1.22%[3] - The net profit after deducting non-recurring gains and losses was CNY 2,428.72 million, down by 11.92% from the previous year[3] - Total operating revenue for the first three quarters of 2025 reached ¥1,215,741,287.45, an increase of 8.7% compared to ¥1,118,191,005.10 in the same period of 2024[17] - Net profit for the first three quarters of 2025 was ¥107,213,401.29, a decrease of 7.5% from ¥115,680,141.41 in the same period of 2024[18] - The total comprehensive income for the first three quarters of 2025 was ¥110,642,969.31, a slight decrease from ¥115,732,415.82 in 2024[19] Assets and Liabilities - The total assets at the end of the reporting period were CNY 344,988.48 million, reflecting a growth of 21.37% compared to the end of the previous year[4] - As of September 30, 2025, the company's total assets reached ¥3,449,884,810.20, an increase from ¥2,842,515,132.82 as of December 31, 2024, representing a growth of approximately 21.4%[12] - The company's total liabilities increased to ¥1,975,742,952.62 in 2025 from ¥1,451,794,793.70 in 2024, marking a growth of 36.1%[15] - The total equity attributable to shareholders rose to ¥1,469,850,791.26 in 2025, compared to ¥1,384,292,433.48 in 2024, representing a growth of 6.2%[15] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 6,933.42 million, an increase of 23.78%[3] - Cash generated from operating activities was ¥1,111,749,161.88 in the first three quarters of 2025, compared to ¥898,520,013.26 in 2024, indicating a significant increase of 23.6%[20] - Operating cash inflow totaled $1,154,540,136.27, an increase of 20% from $961,931,658.98[21] - Net cash flow from operating activities was $69,334,210.36, up from $56,013,294.68, representing a growth of 24%[21] - Cash and cash equivalents at the end of the period amounted to $460,310,879.01, up from $360,834,616.39, reflecting an increase of 28%[22] Research and Development - Research and development expenses totaled CNY 3,010.41 million, accounting for 6.91% of operating revenue, an increase of 0.86 percentage points from the previous year[4] - Research and development expenses increased to ¥81,127,927.50 in 2025 from ¥70,156,320.64 in 2024, reflecting a rise of 15.6%[17] Shareholder Information - The total equity attributable to shareholders was CNY 146,985.08 million, an increase of 6.18% from the end of the previous year[4] - The company has no significant changes in the top 10 shareholders or their shareholding status, indicating stability in ownership[11] Other Financial Metrics - The weighted average return on equity was 1.91%, a decrease of 0.44 percentage points year-on-year[4] - The company's financial expenses rose to ¥7,277,395.29 in 2025, compared to ¥4,804,338.87 in 2024, an increase of 51.5%[17] - The basic earnings per share for the first three quarters of 2025 was ¥0.42, down from ¥0.44 in the same period of 2024[19] Inventory and Receivables - Accounts receivable increased to ¥634,283,876.61 from ¥480,762,350.82, reflecting a rise of approximately 32%[13] - Inventory levels rose to ¥630,193,626.81, compared to ¥441,096,047.01, marking an increase of around 42.9%[13] Investment Activities - Investment activities generated a net cash outflow of $209,199,940.14, compared to a net outflow of $105,873,622.37 in the previous period[21] - Cash inflow from investment activities was $399,548,163.71, compared to $170,589,705.89, marking a growth of 134%[21] Financial Stability - The company's goodwill remained stable at ¥320,978,083.85, with no change reported[13] - There were no new strategies or major product developments mentioned during the earnings call, focusing instead on financial performance and asset growth[12]

Financial Performance - The company's operating revenue for the third quarter reached ¥300,450,660.42, representing a year-on-year increase of 1.07%[4] - Total profit for the quarter was ¥2,831,329.78, reflecting a significant increase of 36.34% compared to the same period last year[4] - Net profit attributable to shareholders was ¥2,331,821.91, up by 27.91% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥2,313,131.40, showing a remarkable increase of 125.49% compared to the previous year[4] - Basic earnings per share for the quarter were ¥0.0020, a 25.00% increase compared to the same period last year[4] - Net profit for the first three quarters of 2025 was ¥11,642,659.47, representing a 19.9% increase from ¥9,716,813.83 in the same period of 2024[17] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.0103, compared to ¥0.0088 in 2024, indicating an increase of 17.0%[18] - The total comprehensive income for the first three quarters of 2025 was ¥11,986,327.83, compared to a loss of ¥8,031,159.69 in 2024[18] Cash Flow - Cash flow from operating activities for the year-to-date was ¥198,723,845.93, reflecting a 23.94% increase[4] - Cash inflow from operating activities totaled ¥929,121,912.07 in the first three quarters of 2025, compared to ¥861,961,870.77 in 2024, marking an increase of 7.8%[19] - The net cash flow from operating activities was $198,723,845.93, an increase of 24% compared to $160,343,099.45 in the previous period[20] - The cash flow from operating activities showed a positive trend, indicating improved operational efficiency[20] Assets and Liabilities - The company's total assets decreased by 8.89% from the end of the previous year, amounting to ¥4,545,784,372.83[5] - Total current assets as of September 30, 2025, amount to ¥3,776,951,660.93, a decrease from ¥4,196,771,359.14 as of December 31, 2024, representing a decline of approximately 10%[13] - Total liabilities decreased to ¥1,907,093,666.46 from ¥2,362,388,886.09, a reduction of approximately 19%[15] - Current liabilities total ¥1,893,438,766.72, down from ¥2,272,464,473.99, indicating a decrease of about 17%[15] - Non-current assets amount to ¥768,832,711.90, a slight decrease from ¥792,321,905.49, representing a decline of approximately 3%[14] - The total liabilities and shareholders' equity amounted to ¥4,545,784,372.83, down from ¥4,989,093,264.63 in the previous year[16] Equity - The company's equity attributable to shareholders increased slightly by 0.46% to ¥2,634,650,905.53 compared to the end of the previous year[5] - The total equity attributable to shareholders increased to ¥2,634,650,905.53 from ¥2,622,599,535.50, indicating a growth of about 0.5%[15] - The company's retained earnings increased to ¥1,568,122,179.99 from ¥1,556,414,478.32, showing a growth of approximately 0.4%[15] Operating Costs and Expenses - Total operating costs for the first three quarters of 2025 were ¥887,873,257.61, up from ¥859,241,098.31 in 2024, reflecting a year-over-year increase of 3.3%[16] - Sales expenses increased to ¥167,244,392.05 in the first three quarters of 2025, up from ¥127,642,237.26 in 2024, reflecting a significant rise of 30.9%[16] - Research and development expenses were ¥22,959,704.95 for the first three quarters of 2025, slightly down from ¥23,811,534.77 in 2024, a decrease of 3.6%[16] Business Model and Strategy - The significant increase in net profit was primarily due to adjustments in the company's business model and an increase in the proportion of self-owned brand sales[9] Other Financial Metrics - The weighted average return on net assets increased by 0.09 percentage points to 0.09%[4] - The company reported a decrease in credit impairment losses to -¥39,393.84 in 2025 from -¥2,780,687.56 in 2024, indicating improved asset quality[17] - The company will not apply new accounting standards starting from 2025[21]

Financial Performance - Q3 2025 revenue was approximately CNY 6.54 billion, a decrease of 2.40% compared to the same period last year[4] - Total profit for Q3 2025 was approximately CNY 783.72 million, down 52.51% year-over-year[4] - Net profit attributable to shareholders was approximately CNY 497.69 million, reflecting a 52.87% decline compared to the previous year[4] - Basic earnings per share for Q3 2025 was CNY 0.0174, down 52.85% from CNY 0.0368 in the same quarter last year[5] - For the period from January to September 2025, the company achieved operating revenue of RMB 21.28 billion, a year-on-year decrease of 2.26%[10] - The net profit attributable to shareholders, excluding non-recurring gains and losses, was RMB 3.748 billion, down 26.36% year-on-year[10] - In the third quarter of 2025, the total profit was RMB 784 million, a decline of 52.51% year-on-year[10] - The net profit attributable to shareholders in Q3 2025 was RMB 498 million, down 52.87% year-on-year[11] - The net profit for the first three quarters of 2025 is CNY 4,742,139,930.70, a decrease of 24.0% compared to CNY 6,243,752,034.71 in the same period of 2024[22] - Operating profit for the first three quarters of 2025 is CNY 5,555,231,321.40, down 21.0% from CNY 7,038,802,781.99 in the previous year[22] - The total comprehensive income for the first three quarters of 2025 is CNY 4,755,023,649.25, a decrease of 24.0% from CNY 6,260,872,260.76 in 2024[23] Cash Flow - The net cash flow from operating activities for the year-to-date period was approximately CNY 17.22 billion, an increase of 20.94% year-over-year[4] - The net cash flow from operating activities for the same period was RMB 17.221 billion, an increase of 20.94% compared to the previous year[10] - The cash flow from operating activities for the first three quarters of 2025 is CNY 17,220,973,895.14, up 20.0% from CNY 14,239,738,856.90 in the same period of 2024[26] - The net cash flow from financing activities for the first three quarters of 2025 is CNY 4,038,716,976.51, a decrease of 61.7% compared to CNY 10,535,126,111.10 in 2024[26] - The net cash flow from operating activities was -234,811,522.52, compared to -174,176,828.95 in the previous period, indicating a decline in operational cash flow[36] - Cash inflow from investment activities totaled 4,535,777,404.75, down from 6,942,653,710.91, reflecting a significant decrease in investment returns[36] - The net cash flow from investment activities was -5,796,163,625.30, worsening from -3,407,185,102.57, highlighting increased cash outflows for investments[36] - The net cash flow from financing activities was 7,416,714,905.95, compared to 7,138,023,806.07, indicating stable financing operations[36] Assets and Liabilities - Total assets as of the end of the reporting period were approximately CNY 377.02 billion, an increase of 5.65% from the end of the previous year[5] - Current assets totaled CNY 56,534,152,931.49 as of September 30, 2025, compared to CNY 54,925,208,217.68 at the end of 2024, marking an increase of 2.92%[18] - Non-current assets amounted to CNY 320,489,229,677.22, up from CNY 301,946,218,482.64, representing a growth of 6.14%[19] - Total liabilities increased to CNY 268,628,180,845.65 from CNY 253,224,899,472.07, reflecting a rise of 6.06%[20] - The total liabilities increased to RMB 65.84 billion as of September 30, 2025, from RMB 55.99 billion at the end of 2024, marking an increase of about 17.5%[29] Shareholder Equity - The equity attributable to shareholders increased by 2.89% to approximately CNY 89.22 billion compared to the previous year-end[5] - Shareholders' equity rose to CNY 108,395,201,763.06, compared to CNY 103,646,527,228.25, showing an increase of 4.56%[20] - The total owner's equity as of September 30, 2025, was RMB 56.70 billion, a slight increase from RMB 56.43 billion at the end of 2024, reflecting a growth of approximately 0.5%[30] Investment and Expenses - The company reported a tax expense of CNY 786,845,197.86 for the first three quarters of 2025, slightly down from CNY 798,680,375.49 in 2024[22] - The company's management expenses decreased to RMB 173.74 million in the first three quarters of 2025 from RMB 290.89 million in the same period of 2024, a reduction of approximately 40.3%[31] - The financial expenses for the first three quarters of 2025 were RMB 639.02 million, slightly down from RMB 655.69 million in the same period of 2024, indicating a decrease of about 2.5%[31] - The company reported an investment income of RMB 3.10 billion for the first three quarters of 2025, compared to RMB 2.86 billion in the same period of 2024, representing an increase of about 8.5%[31] Stakeholder Actions - The company made a retrospective adjustment for the acquisition of 100% equity in Kaifeng Huaxin New Energy Development Co., Ltd. in 2024[6] - The company’s major shareholder, China Three Gorges Group, announced a plan to increase its stake in the company by no less than RMB 1.5 billion and no more than RMB 3 billion within 12 months[15] - As of September 30, 2025, China Three Gorges Group had accumulated an increase of 177,588,095 shares in the company[15]

Revenue and Profit - Revenue for Q3 2025 was CNY 231,536,658.04, a decrease of 21.33% year-on-year, and a decrease of 17.27% compared to the beginning of the year[5] - Net profit attributable to shareholders increased by 5,282.88% to CNY 205,558,180.05, and increased by 338.55% year-to-date[5] - Basic earnings per share rose to CNY 0.49, reflecting a 5,301.15% increase year-on-year, and a 344.12% increase year-to-date[5] - The company reported a 307.06% increase in total profit compared to the same period last year, driven by gains from the fair value changes of financial assets[9] - Net profit for the current period is ¥352,191,916.25, compared to a net loss of ¥147,641,408.17 in the previous period, indicating a significant turnaround[17] - Basic and diluted earnings per share are both ¥0.83, recovering from a loss of ¥0.34 in the previous period[18] Cash Flow - Operating cash flow showed a net decrease of 108.32% year-on-year, primarily due to reduced cash received from sales and other operating activities[8] - Cash flow from operating activities shows a net outflow of ¥11,949,302.07, a decline from a net inflow of ¥143,675,099.07 in the previous period[19] - Cash flow from investing activities generated a net inflow of ¥407,810,570.37, up from ¥27,917,604.94 in the previous period[19] - Cash flow from financing activities resulted in a net outflow of ¥333,370,084.73, worsening from a net outflow of ¥139,465,401.79 in the previous period[19] - The ending cash and cash equivalents balance is ¥134,137,939.44, down from ¥202,016,977.52 in the previous period[19] - The company’s cash and cash equivalents increased by 86.19% compared to the beginning of the period, mainly due to cash recovered from investments[9] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,020,047,564.90, an increase of 1.37% compared to the end of the previous year[5] - Total current assets amount to ¥881,535,173.55, an increase from ¥855,803,423.80 at the beginning of the period[13] - Total non-current assets are ¥3,138,512,391.35, slightly up from ¥3,109,875,507.43[14] - Total assets reached ¥4,020,047,564.90, compared to ¥3,965,678,931.23 at the start of the period[15] - Total liabilities increased to ¥1,135,383,209.79 from ¥1,074,114,788.54[15] - The company's equity attributable to shareholders is ¥2,884,664,355.11, down from ¥2,891,564,142.69[15] Shareholder Information - Total number of common shareholders at the end of the reporting period is 20,000[12] - The largest shareholder, Shanghai Kangfeng Investment Management Co., Ltd., holds 42.59% of shares, totaling 188,047,510 shares[12] - The company has a total of 22,000,000 shares held in a repurchase account, representing 4.98% of total share capital[12] Investment and Financial Activities - Investment activities generated a cash flow net increase of 1,360.76% year-on-year, mainly due to cash recovered from investments[8] - Non-operating income increased by 2,364.40% year-on-year, primarily due to compensation income received during the period[9] - Financial expenses increased by 195.66% year-on-year, attributed to profits allocated to other partners being included in current financial expenses[9] - The company reported an investment income of ¥132,588,925.76, significantly higher than ¥54,000,381.18 in the previous period[16] - The fair value change income was ¥304,075,619.74, a recovery from a loss of ¥402,995,281.76 in the previous period[17] Operating Performance - Total operating revenue for the current period is ¥597,689,446.04, a decrease of 17.3% compared to ¥722,498,481.55 in the previous period[16] - Total operating costs decreased to ¥577,965,987.64 from ¥591,428,379.49, reflecting a reduction of 2.4%[16] - Cash and cash equivalents at the end of the period are ¥134,189,583.30, up from ¥72,069,752.11[13] - The company reported a decrease in short-term borrowings to ¥20,000,000.00 from ¥30,019,666.67[14]

Financial Performance - The company's operating revenue for the third quarter was ¥1,956,585,178.96, a decrease of 45.76% compared to the same period last year[5] - The total profit for the quarter was ¥57,439,258.06, representing an increase of 88.19% year-over-year[5] - The net profit attributable to shareholders was ¥55,061,936.40, up 111.25% from the previous year[5] - The net profit for the first three quarters of 2025 was CNY 102,872,743.76, compared to a net loss of CNY 296,189,660.24 in the same period of 2024, marking a significant turnaround[21] - The company reported a basic earnings per share of CNY 0.38 for the first three quarters of 2025, compared to a loss per share of CNY -0.82 in the same period of 2024[22] Cash Flow - The cash flow generated from operating activities was ¥305,932,106.47, a significant increase of 570.73% year-to-date[5] - The net cash flow from operating activities was $230.78 million, a significant increase from $34.41 million in the previous period, indicating improved operational efficiency[26] - The total cash outflow from operating activities amounted to $6.97 billion, down from $11.20 billion, reflecting a reduction in operational expenses[26] - Cash inflows from operating activities for the first three quarters of 2025 were CNY 7,204,302,946.47, down from CNY 11,232,741,614.40 in 2024, a decrease of about 35.0%[25] Assets and Liabilities - The company's total assets increased by 9.22% to ¥8,114,817,181.97 compared to the end of the previous year[6] - Total current assets as of September 30, 2025, amount to ¥4,171,942,570, an increase from ¥3,497,305,649.64 in the previous year[15] - Total assets reached ¥8,114,817,181.97, up from ¥7,429,995,571.24 in the previous year[16] - Total liabilities increased to ¥3,444,263,009.36 from ¥2,647,929,065.27 year-over-year[16] - The total liabilities as of the latest reporting period were CNY 4,367,620,150.77, an increase from CNY 3,792,749,989.22 year-over-year[20] Shareholder Information - Total number of common shareholders at the end of the reporting period is 60,925[12] - Guangdong Rare Earth Industry Group holds 38.45% of shares, totaling 129,372,517 shares[12] Inventory and Borrowings - The company's inventory increased by 25.09%, primarily due to the accumulation of rare earth products and precious metal stocks[9] - The company's short-term borrowings rose by 97.32%, attributed to increased operational financing during the reporting period[9] - Short-term borrowings rose significantly to ¥1,186,584,497.20 from ¥601,362,873.34[16] - Accounts receivable increased to ¥314,234,800.08 from ¥108,338,013.25[15] Research and Development - The company's research and development expenses decreased by 30.65%, mainly due to the suspension of some separated enterprises[9] - The company incurred research and development expenses of CNY 20,865,024.09 in the first three quarters of 2025, down from CNY 30,086,543.85 in 2024, indicating a reduction of approximately 30.5%[20] Investment Income - The company reported investment income of CNY 203,361,823.68 for the first three quarters of 2025, an increase from CNY 124,114,824.62 in the same period of 2024, representing a growth of approximately 63.7%[20] Cash Management - The ending cash and cash equivalents balance increased to $1.02 billion, up from $604.20 million, reflecting a strong liquidity position[27] - The company paid $1.98 billion in debt repayments, down from $2.45 billion, indicating a reduction in debt obligations[26] - The cash paid for fixed assets and other long-term assets was $98.31 million, a decrease from $147.10 million, suggesting a slowdown in capital expenditures[26] - The cash paid for employee compensation was $130.20 million, a decrease from $175.44 million, reflecting cost-cutting measures[26]

Financial Performance - Total operating income for Q3 2025 was RMB 2,704,735 thousand, an increase of 2.15% year-on-year[4] - Net profit attributable to shareholders for Q3 2025 was RMB 651,692 thousand, a slight increase of 0.22% year-on-year[4] - The bank's basic earnings per share for Q3 2025 was RMB 0.07, unchanged from the previous year[5] - The weighted average return on equity (ROE) for Q3 2025 was 5.71%, a decrease of 0.11 percentage points year-on-year[5] - The group's net profit for the nine months ended September 30, 2025, was RMB 2,300,027 thousand, slightly up from RMB 2,288,964 thousand in 2024, indicating a growth of 0.8%[48] - The total profit for the group for the nine months ended September 30, 2025, was RMB 2,638,597 thousand, compared to RMB 2,557,093 thousand in 2024, marking an increase of 3.2%[48] - The net profit for the group for the three months ended September 30, 2025, was RMB 633,671 thousand, slightly down from RMB 639,852 thousand in 2024, indicating a decrease of 0.3%[54] Assets and Liabilities - Total assets as of September 30, 2025, reached RMB 743,552,270 thousand, up 9.93% from the end of 2024[7] - The total liabilities reached RMB 685,937,978 thousand, up from RMB 620,070,469 thousand at the end of 2024, indicating an increase of about 10.66%[42] - The total equity attributable to shareholders was RMB 55,743,576 thousand, compared to RMB 54,445,031 thousand at the end of 2024, reflecting a growth of approximately 2.38%[44] - The bank's total assets under management increased significantly, with interbank lending rising by 57.69% to RMB 22,234,090 thousand compared to December 31, 2024[24] Loans and Deposits - Total loans and advances increased by 4.91% year-on-year, reaching RMB 406,716,657 thousand[7] - Customer deposits grew by 13.59% year-on-year, totaling RMB 459,517,775 thousand[7] - The total amount of loans classified as "normal" increased by 4.92% to RMB 391,274,006 thousand as of September 30, 2025[21] - The bank's loans and advances amounted to RMB 394,700,073 thousand, an increase from RMB 376,048,659 thousand at the end of 2024, showing a growth of about 4.37%[40] - The bank's total deposits reached RMB 470,280,431 thousand, compared to RMB 413,096,026 thousand at the end of 2024, indicating a growth of about 13.86%[42] Capital Adequacy and Ratios - The non-performing loan ratio stood at 1.76% as of September 30, 2025, slightly improved from 1.79% at the end of 2024[11] - The capital adequacy ratio was 12.00% as of September 30, 2025, meeting regulatory requirements[11] - As of September 30, 2025, the core tier 1 capital adequacy ratio is 8.76%, unchanged from December 31, 2024[16] - The total capital adequacy ratio stands at 12.00% as of September 30, 2025, slightly down from 12.06% at the end of 2024[16] - The leverage ratio decreased to 6.76% as of September 30, 2025, compared to 7.19% at the end of 2024[18] Cash Flow and Investments - Net cash flow from operating activities decreased by 41.13% in Q3 2025, totaling RMB 9,429,296 thousand[4] - The net cash inflow from operating activities for the group for the nine months ended September 30, 2025, was RMB 17,186,752,000, an increase of 47.5% compared to RMB 11,613,414,000 in the same period last year[60] - The net cash outflow from investment activities for the group was RMB 17,571,518,000, compared to RMB 5,521,555,000 in the previous year, indicating a significant increase in cash used for investments[62] - The total cash inflow from investment activities was RMB 86,778,609,000, compared to RMB 60,844,081,000 in the previous year, reflecting an increase of approximately 42.7%[62] - The bank's financial investments at fair value increased to RMB 48,107,116 thousand from RMB 32,484,947 thousand, reflecting a significant growth of approximately 48.00%[40] Shareholder Information - The number of ordinary shareholders reached 108,364, with A-share shareholders accounting for 108,314[27] - The total comprehensive income attributable to shareholders of the bank was RMB 257,642,000, down from RMB 491,681,000 in the same period last year, representing a decline of approximately 47.5%[56] - The basic and diluted earnings per share for the group remained stable at RMB 0.07 for both the current and previous periods[56] Other Financial Metrics - The liquidity coverage ratio is reported at 208.57% as of September 30, 2025, indicating strong liquidity position[19] - The group's credit impairment losses for the nine months ended September 30, 2025, were RMB 4,359,179 thousand, up from RMB 4,046,336 thousand in 2024, representing an increase of 7.7%[48] - The group's other comprehensive income for the nine months ended September 30, 2025, was RMB (798,664) thousand, compared to RMB 201,783 thousand in 2024, indicating a significant decline[50] - The total comprehensive income for the group for the three months ended September 30, 2025, was RMB 239,621,000, a decrease from RMB 481,262,000 in the same period last year, representing a decline of approximately 50.2%[56]