Financial Performance - The company's operating revenue for Q3 2025 was ¥93,311,097.76, a decrease of 32.70% compared to the same period last year[4]. - The total profit for the period was ¥4,326,763.33, reflecting a decline of 58.73% year-over-year[4]. - The net profit attributable to shareholders was ¥3,356,362.09, down 62.87% from the previous year[4]. - The net profit excluding non-recurring gains and losses for the period was ¥1,307,617.41, a significant drop of 85.06% compared to the same quarter last year[4]. - Total operating revenue for the first three quarters of 2025 was CNY 322,987,990.34, a decrease of 14.8% compared to CNY 378,786,777.04 in the same period of 2024[16]. - Net profit for the first three quarters of 2025 was CNY 22,727,124.80, representing a decline of 32.4% from CNY 33,592,763.03 in 2024[17]. - Total comprehensive income for the first three quarters of 2025 was CNY 22,735,889.55, a decrease of 32.4% from CNY 33,592,580.05 in 2024[18]. Cash Flow and Assets - The cash flow from operating activities for the year-to-date was ¥23,634,843.24, a decrease of 66.41% year-over-year[5]. - Cash flow from operating activities for the first three quarters of 2025 was CNY 23,634,843.24, a significant decrease of 66.4% from CNY 70,358,884.28 in 2024[22]. - Cash and cash equivalents at the end of the first three quarters of 2025 totaled CNY 374,246,183.40, compared to CNY 335,588,962.48 at the end of 2024[23]. - The company's current assets totaled RMB 768,313,522.22, down from RMB 815,146,317.06 in the previous period[12]. - The cash and cash equivalents decreased to RMB 374,246,183.40 from RMB 394,918,083.10, a decline of about 5.5%[12]. Liabilities and Equity - The total liabilities decreased to RMB 123,231,424.08 from RMB 187,646,803.77, indicating a reduction of about 34%[14]. - The company's equity attributable to shareholders rose to RMB 1,118,260,145.01 from RMB 1,110,204,924.09, showing a slight increase of approximately 0.5%[14]. - The company's total liabilities to equity ratio improved, indicating a stronger financial position compared to the previous period[14]. Inventory and Receivables - The inventory increased significantly to RMB 203,986,327.91 from RMB 138,882,562.93, reflecting a growth of approximately 47%[13]. - The accounts receivable decreased to RMB 106,525,872.52 from RMB 206,751,887.22, representing a significant drop of approximately 48%[12]. Operational Challenges - The decline in revenue and profits was primarily due to reduced acceptance of smart equipment projects compared to the previous year[8]. - The company reported a significant increase in the proportion of customer settlements via notes, leading to a decrease in cash received from sales[8]. Research and Development - Research and development expenses for the first three quarters of 2025 were CNY 22,485,888.53, down 20.5% from CNY 28,226,335.68 in 2024[16]. Cash Flows from Investing and Financing Activities - The company reported a net cash outflow from investing activities of CNY 19,482,573.00 for the first three quarters of 2025, compared to a net outflow of CNY 31,775,913.50 in 2024[22]. - The company incurred a net cash outflow from financing activities of CNY 24,868,890.57 in the first three quarters of 2025, slightly improved from a net outflow of CNY 25,333,889.33 in 2024[23]. Accounting Standards - The new accounting standards or interpretations will be implemented starting from 2025, affecting the financial statements from the beginning of that year[24].

Financial Performance - The company's operating revenue for the third quarter reached CNY 1,300,109,142.33, an increase of 4.72% compared to the same period last year[5] - Total profit for the quarter was CNY 177,698,742.67, representing a significant increase of 35.45% year-on-year, primarily due to increased sales and reduced material costs[10] - Net profit attributable to shareholders was CNY 64,920,112.97, a decrease of 2.46% compared to the previous year[5] - Total operating revenue for the first three quarters of 2025 reached RMB 3,587,369,260.48, an increase of 4.76% compared to RMB 3,424,667,530.22 in the same period of 2024[20] - Net profit for the first three quarters of 2025 was CNY 245,781,728.90, a decrease of 13.5% compared to CNY 284,223,829.20 in the same period of 2024[22] - Operating profit for the first three quarters of 2025 was CNY 329,937,978.55, down from CNY 365,080,110.60 in the previous year, reflecting a decline of 9.7%[22] - Basic and diluted earnings per share for the first three quarters of 2025 were CNY 0.3579, compared to CNY 0.4599 in the same period of 2024, a decrease of 22.1%[22] Cash Flow and Investments - Cash flow from operating activities decreased by 50.76% to CNY 156,079,730.35, mainly due to increased cash payments for goods and services[11] - Cash flow from operating activities decreased to CNY 387,620,194.66, down 44.0% from CNY 693,882,987.58 in the same period last year[24] - The company reported a net cash outflow from investing activities of CNY 144,249,710.25, slightly improved from CNY 144,294,867.18 in the previous year[25] - Cash and cash equivalents at the end of the period were CNY 484,807,284.98, down from CNY 801,829,690.13 at the end of the previous year[25] Assets and Liabilities - The total assets of the company increased by 3.10% to CNY 4,478,043,023.84 compared to the end of the previous year[6] - The total assets of the company increased to RMB 4,478,043,023.84 from RMB 4,343,578,723.02, marking a growth of 3.09%[18] - Total liabilities rose to RMB 2,413,450,451.95, compared to RMB 2,324,167,880.03, reflecting an increase of 3.73%[18] - The company's equity attributable to shareholders decreased to RMB 1,127,350,257.84 from RMB 1,206,261,985.89, indicating a decline of 6.54%[18] - Long-term borrowings increased significantly to RMB 726,750,000.00 from RMB 408,000,000.00, representing an increase of 78.25%[18] - Deferred income tax liabilities rose to RMB 99,948,451.01 from RMB 92,136,073.21, reflecting an increase of 8.93%[18] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 19,986[12] - The largest shareholder, Giti Tire (China) Investment Co., Ltd., holds 151,070,000 shares, accounting for 44.43% of the total shares[13] Future Outlook - The company plans to continue focusing on expanding its market presence and enhancing product development in the upcoming quarters[5] - Research and development expenses increased to CNY 28,775,736.97, up 25.5% from CNY 22,929,465.59 in the prior year[22]

Financial Performance - The company's operating revenue for the third quarter reached ¥220,382,824.72, an increase of 38.61% compared to the same period last year[5] - Total profit for the quarter was ¥26,138,206.88, reflecting a significant increase of 191.46% year-over-year[5] - Net profit attributable to shareholders was ¥23,374,242.28, up 146.48% from the previous year[5] - The net profit excluding non-recurring gains and losses was ¥20,632,543.01, an increase of 165.97% compared to the same period last year[5] - Basic and diluted earnings per share for the quarter were both ¥0.09, an increase of 144.00% year-over-year[5] - Total operating revenue for the first three quarters of 2025 reached ¥592.81 million, an increase from ¥525.46 million in the same period of 2024, representing a growth of approximately 12.8%[19] - Net profit for the first three quarters of 2025 was ¥53.85 million, compared to ¥43.05 million in 2024, marking an increase of approximately 25.1%[20] - The company’s total profit for the first three quarters of 2025 was ¥68.69 million, compared to ¥50.07 million in 2024, representing an increase of about 37.1%[19] Cash Flow - The net cash flow from operating activities for the quarter was ¥7,131,184.82, with a year-to-date total of ¥163,025,323.02, representing a substantial increase of 1,867.17%[5] - The net cash flow from operating activities for the first three quarters of 2025 was ¥163.03 million, significantly up from ¥8.29 million in the same period of 2024[21] - Investment activities generated a net cash flow of ¥23.54 million in 2025, a recovery from a negative cash flow of ¥107.71 million in 2024[22] - The company's total cash and cash equivalents stood at ¥392.15 million, compared to ¥322.03 million at the end of the previous year, indicating an increase of approximately 21.7%[22] Assets and Liabilities - Total assets at the end of the quarter were ¥2,045,398,727.93, a decrease of 5.40% compared to the end of the previous year[5] - The company's total liabilities as of September 30, 2025, were RMB 482,822,882.55, compared to RMB 460,245,903.96 at the end of 2024, indicating an increase in liabilities[16] - The total equity attributable to shareholders decreased from RMB 1,438,772,650.24 at the end of 2024 to RMB 1,303,953,812.36 as of September 30, 2025[16] - The company's cash and cash equivalents stood at RMB 403,260,550.90 as of September 30, 2025, slightly up from RMB 402,002,630.70 at the end of 2024[14] - Accounts receivable decreased from RMB 315,124,106.73 at the end of 2024 to RMB 273,641,126.82 as of September 30, 2025, reflecting a reduction of approximately 13.2%[14] - Inventory increased from RMB 296,920,803.14 at the end of 2024 to RMB 311,744,995.90 as of September 30, 2025, representing an increase of about 5%[14] - The company's total current assets decreased from RMB 1,284,898,409.69 at the end of 2024 to RMB 1,227,064,768.34 as of September 30, 2025[14] - The total non-current assets decreased from RMB 877,311,316.32 at the end of 2024 to RMB 818,333,959.59 as of September 30, 2025[15] Expenses - Total operating costs increased to ¥536.69 million from ¥482.35 million, reflecting a rise of about 11.3%[19] - The company incurred sales expenses of ¥7.13 million, a decrease from ¥7.95 million in the previous year, reflecting a reduction of about 10.4%[19] - Research and development expenses decreased to ¥16.94 million from ¥20.40 million, a decline of approximately 16.1%[19] Other Information - The company reported non-recurring gains of ¥2,741,699.27 for the quarter, with government subsidies contributing ¥5,076,730.53[7] - There are no significant changes in the company's shareholder structure or financing activities reported during this period[12] - The company's total revenue for the first three quarters of 2025 is yet to be disclosed, but it is essential to monitor this figure in future reports[17]

Financial Performance - The company's operating revenue for the third quarter was ¥597,351,095.31, representing a year-on-year increase of 6.97%[4] - The total profit for the third quarter decreased by 65.01% to ¥11,658,643.15, while the profit for the year-to-date period decreased by 51.80% to ¥92,976,396.17[4] - The net profit attributable to shareholders for the third quarter was ¥11,275,254.35, down 63.24% year-on-year, and for the year-to-date period, it was ¥86,772,709.08, down 49.14%[4] - The basic earnings per share for the third quarter was ¥0.02, a decrease of 60.00%, and for the year-to-date period, it was ¥0.15, down 50.00%[5] - The total profit for the first three quarters of 2025 was ¥92,976,396.17, down 51.8% from ¥192,881,004.24 in 2024[20] - Net profit for the first three quarters of 2025 was ¥86,772,709.08, down 49.0% from ¥170,598,615.88 in the first three quarters of 2024[21] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥258,602,519.74, down 12.76%[4] - The net cash flow from operating activities for the first three quarters of 2025 was ¥258,602,519.74, a decrease of 12.8% compared to ¥296,430,396.58 in 2024[23] - The company reported a net cash outflow from investing activities of ¥251,529,938.82 in 2025, compared to a net inflow of ¥25,838,712.87 in 2024[23] - The company received cash inflows from investment activities totaling ¥1,616,684,797.20 in 2025, compared to ¥459,776,112.20 in 2024, reflecting a strategic shift in investment approach[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,185,031,920.32, an increase of 3.43% compared to the end of the previous year[5] - Total current assets as of September 30, 2025, amount to ¥2,742,202,097.88, a decrease from ¥2,786,466,401.70 as of December 31, 2024[16] - Total liabilities as of September 30, 2025, are ¥1,550,959,699.03, compared to ¥1,444,884,004.54 at the end of 2024[17] - Total assets as of September 30, 2025, are ¥4,185,031,920.32, up from ¥4,046,256,554.64 at the end of 2024[18] - The company's total equity increased to ¥2,634,072,221.29 from ¥2,601,372,550.10[18] Shareholder Information - Total number of common shareholders at the end of the reporting period is 24,257[12] - The largest shareholder, Zhu Guoliang, holds 90,527,531 shares, representing 16.13% of total shares[12] Expenses and Financial Management - Research and development expenses increased to ¥47,215,465.63 in 2025, up 60.9% from ¥29,316,641.51 in 2024[20] - The company incurred financial expenses of ¥-4,062,808.97 in 2025, compared to ¥7,629,309.05 in 2024, indicating a significant improvement in financial management[20] Product Pricing and Profit Margins - The decline in total profit was primarily attributed to a decrease in product prices and gross profit margins[9]

Financial Performance - The company's operating revenue for the current period reached ¥701,558,035.35, representing a year-on-year increase of 21.85% and a cumulative increase of 47.97% year-to-date[5]. - The total profit for the current period was ¥83,153,676.55, reflecting a 32.48% increase compared to the previous quarter, with a year-to-date increase of 47.75%[5]. - The net profit attributable to shareholders was ¥71,837,501.81, marking a 27.77% increase for the current period and a 42.58% increase year-to-date[5]. - Basic and diluted earnings per share for the current period were both ¥0.44, up 22.22% compared to the previous quarter, with a year-to-date increase of 36.84%[6][10]. - Total operating revenue for the first three quarters of 2025 reached CNY 2,093,623,696.71, a significant increase of 47.9% compared to CNY 1,414,898,542.32 in the same period of 2024[18]. - Net profit for the first three quarters of 2025 was CNY 210,862,952.69, representing a 42.5% increase from CNY 147,888,902.65 in the same period of 2024[19]. - Total profit for the first three quarters of 2025 was ¥126,845,659.53, an increase of 56.8% from ¥80,914,794.27 in the same period of 2024[27]. Cash Flow - The cash flow from operating activities showed a significant decline of 91.26%, totaling ¥14,108,614.11 year-to-date, primarily due to increased labor costs and taxes[6][10]. - Operating cash inflow for the first three quarters of 2025 was CNY 513.04 million, a decrease of 17.8% from CNY 624.33 million in the same period of 2024[21]. - Net cash flow from operating activities for the first three quarters of 2025 was CNY 14.11 million, down 91.3% from CNY 161.49 million in 2024[21]. - Cash flow from operating activities generated a net amount of ¥51,275,318.88, a decrease of 81.4% compared to ¥275,256,335.71 in the same period of 2024[29]. - Cash flow from investing activities showed a net outflow of ¥62,731,864.73, an improvement from a net outflow of ¥890,990,003.93 in the previous year[30]. Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥2,916,326,988.95, which is a 5.44% increase compared to the end of the previous year[6]. - Total current assets as of September 30, 2025, amount to ¥2,370,201,224.95, an increase from ¥2,308,558,680.92 as of December 31, 2024[15]. - Total liabilities rose to CNY 1,196,844,039.01, an increase of 10.4% from CNY 1,084,056,961.76 in the previous year[17]. - Current liabilities increased to CNY 269.86 million in 2025 from CNY 233.68 million in 2024, an increase of 15.4%[25]. - The total equity decreased to CNY 1.39 billion in 2025 from CNY 1.46 billion in 2024, a decline of 4.4%[25]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 10,691[13]. - The largest shareholder, Sheng Jian Hua, holds 54,540,000 shares, representing 33.75% of total shares[13]. - The second largest shareholder, Pan Shu Xin, holds 43,632,000 shares, representing 27.00% of total shares[13]. Research and Development - Research and development expenses for the first three quarters of 2025 were CNY 57,845,111.24, an increase of 34.4% compared to CNY 43,050,411.71 in the same period of 2024[18]. - Research and development expenses increased to ¥28,072,257.52, representing a rise of 12.1% from ¥25,048,060.39 in the previous year[27]. Investment Income - The company reported an investment income of CNY 3,767,872.32, compared to a loss of CNY 445,549.14 in the previous year[18]. - The company reported a significant increase in investment income, reaching ¥3,421,086.04 compared to a loss of ¥323,916.07 in the previous year[27]. Customer Sales - The company reported a significant increase in new customer sales due to market expansion efforts, contributing to the overall revenue growth[10].

Financial Performance - The company's operating revenue for the third quarter was ¥553,870,053.56, a decrease of 4.23% compared to the same period last year[5]. - The total profit for the quarter was ¥156,271,094.84, reflecting an 18.77% decline year-over-year[5]. - Net profit attributable to shareholders was ¥134,998,832.96, down 2.72% from the previous year[5]. - Total operating revenue for the first three quarters of 2025 reached ¥1,864,149,031.13, an increase of 2.5% compared to ¥1,815,928,499.99 in the same period of 2024[23]. - Net profit for the first three quarters of 2025 was ¥598,898,442.37, compared to ¥555,197,255.47 in 2024, representing an increase of about 7.8%[24]. - Basic earnings per share for the quarter were ¥0.06, while diluted earnings per share were ¥0.05, a decrease of 16.67%[6]. - Basic earnings per share for the current period is CNY 0.24, compared to CNY 0.23 in the previous period[25]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period increased by 80.10%, amounting to ¥2,176,408,321.68[9]. - The company's cash flow from operating activities remains strong, supporting ongoing investments and operational stability[24]. - The total assets at the end of the reporting period reached ¥23,914,656,620.00, representing a 7.60% increase from the end of the previous year[6]. - The company's current assets total RMB 5,253,941,235.66, compared to RMB 4,080,221,105.60 as of December 31, 2024[19]. - The non-current assets amount to RMB 18,660,715,384.34, up from RMB 18,144,373,407.65 as of December 31, 2024[19]. - The ending balance of cash and cash equivalents is CNY 2,111,806,367.59, compared to CNY 423,896,744.99 at the end of the previous year[26]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 97,586[10]. - The top ten shareholders held a combined 63.85% of the company's shares, with Shanghai Borong Yihong Technology Co., Ltd. being the largest shareholder at 16.41%[11]. - The actual controller Chen Bo and his concerted actors hold a total of 1,290,216,714 shares, accounting for 44.29% of the total share capital after the issuance[15]. - The concerted actor Jin Yuan Rong Tai plans to increase its shareholding by no less than RMB 120 million and no more than RMB 240 million within 12 months starting from December 27, 2024[17]. - As of the report date, Jin Yuan Rong Tai has cumulatively increased its shareholding by 40,727,997 shares, with a total investment of approximately RMB 134.11 million, reaching the lower limit of the planned increase[17]. Liabilities and Financial Expenses - The company's total liabilities amounted to ¥15,910,194,390.65, a slight increase from ¥15,411,508,142.65 in the previous year[22]. - Long-term borrowings decreased to ¥2,969,438,373.94 from ¥4,144,052,278.59, a reduction of about 28.3%[22]. - The company's financial expenses for the first three quarters were ¥352,712,104.50, down from ¥382,744,790.62, showing a decrease of approximately 7.9%[23]. Investment and Cash Flow Activities - Cash flow from investing activities shows a net outflow of CNY 720,835,110.16, an improvement from a net outflow of CNY 960,672,752.00 in the same period last year[26]. - Cash inflow from financing activities totals CNY 4,370,721,449.07, compared to CNY 3,214,229,184.46 in the previous year, reflecting an increase of approximately 36%[26]. - Net cash flow from financing activities is CNY 384,393,153.42, a significant recovery from a net outflow of CNY 214,956,593.02 in the same period last year[26]. Other Information - The company reported non-recurring gains of ¥299,734.14 for the quarter[8]. - The company has not applied new accounting standards for the current reporting period[27]. - The board of directors announced the financial results on October 29, 2025[28].

浙江中马传动股份有限公司 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。 公司负责人梁小瑞、主管会计工作负责人吴敏利及会计机构负责人（会计主管人员）孙东旭保证 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 证券代码：603767 证券简称：中马传动 （一） 主要会计数据和财务指标 浙江中马传动股份有限公司 2025 年第三季度报告 单位：元 币种：人民币 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。 | | | 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 | 239,726,084.77 | ...

浙江梅轮电梯股份有限公司 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 浙江梅轮电梯股份有限公司 2025 年第三季度报告 证券代码：603321 证券简称：梅轮电梯 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 | 176,220,671.36 | -10.55 | ...

深圳市名家汇科技股份有限公司 2025 年第三季度报告 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 证券代码：300506 证券简称：*ST 名家 公告编号：2025-088 深圳市名家汇科技股份有限公司 □是 ☑否 1 深圳市名家汇科技股份有限公司 2025 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 ☑否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 66,104,124.67 ...

Revenue and Profit - Revenue for Q3 2025 reached ¥699,931,746, an increase of 4.89% year-over-year, while year-to-date revenue totaled ¥2,038,460,148, up 9.20% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2025 was ¥42,164,700, a decrease of 13.44% year-over-year, with year-to-date net profit at ¥166,897,317, down 2.82%[5] - Basic earnings per share for Q3 2025 was ¥0.1178, reflecting a decline of 13.45% compared to the same quarter last year[5] - Total operating revenue for the current period reached ¥2,038,460,147.85, an increase of 9.2% compared to ¥1,866,773,726.77 in the previous period[28] - Net profit for the current period was ¥166,818,638.69, a decrease of 3.1% from ¥172,874,071.41 in the previous period[29] - Total comprehensive income attributable to the parent company was CNY 167,280,683.91, a decrease from CNY 171,576,336.77 in the previous period, reflecting a decline of approximately 2.1%[30] - Basic and diluted earnings per share were both CNY 0.4662, down from CNY 0.4797 in the previous period, indicating a decrease of about 4.9%[30] Assets and Liabilities - Total assets as of September 30, 2025, amounted to ¥2,223,301,586, representing a 5.95% increase from the end of the previous year[5] - Current liabilities totaled ¥706,583,825.50, slightly up from ¥701,428,239.62, indicating a marginal increase of 0.2%[27] - The company's total assets increased to ¥2,223,301,586.29, compared to ¥2,098,477,469.94, marking a growth of 5.9%[26] - The company's deferred tax assets decreased slightly to ¥58,094,166.62 from ¥59,994,951.28, indicating a reduction of 3.2%[26] Cash Flow - Cash flow from operating activities for the year-to-date period was ¥190,693,750, an increase of 32.02% compared to the same period last year[5] - Net cash flow from operating activities was CNY 190,693,749.74, an increase of approximately 32% compared to CNY 144,442,317.50 in the previous period[34] - Cash inflow from operating activities totaled CNY 1,883,022,197.63, up from CNY 1,751,269,097.97, representing an increase of about 7.5%[33] - Cash outflow from operating activities was CNY 1,692,328,447.89, compared to CNY 1,606,826,780.47 in the previous period, reflecting an increase of approximately 5.3%[33] - Net cash flow from investing activities was -CNY 196,179,010.73, worsening from -CNY 117,213,715.29 in the previous period[34] - Cash inflow from investing activities was CNY 181,109,633.50, compared to CNY 124,294,712.58 in the previous period, indicating an increase of about 45.7%[34] - Cash outflow from investing activities increased to CNY 377,288,644.23 from CNY 241,508,427.87, representing an increase of approximately 56.2%[34] - Net cash flow from financing activities was -CNY 18,636,606.66, an improvement from -CNY 30,732,696.60 in the previous period[34] - The ending balance of cash and cash equivalents was CNY 299,115,671.96, compared to CNY 270,237,986.41 in the previous period, reflecting an increase of about 10.7%[34] Shareholder Information - As of September 30, 2025, the total number of shareholders was 20,397, with the largest shareholder holding 25% of the shares[14] - The top 10 shareholders collectively hold 206,462,682 shares, representing approximately 57.67% of the total share capital[19] - The largest shareholder, Tianjin Huizefeng Enterprise Management Co., Ltd., has pledged all 89,500,000 shares, which are also subject to judicial freezing due to debt disputes[20] Investments and Patents - The company increased its investment in its Bangladesh subsidiary from 49.5 million RMB to 149.5 million RMB, approved on February 18, 2025[17] - The company added 24 new patents in the first nine months of 2025, bringing the total to 676 valid patents[18] Other Income and Expenses - Other income increased by 31.39% to ¥8,578,321, primarily due to an increase in government subsidies[10] - Research and development expenses were reported at ¥81,452,638.84, an increase from ¥77,211,280.03, showing a growth of 3.0%[28] Credit and Impairment - The company reported a 64.63% reduction in credit impairment losses, amounting to -¥1,328,689, indicating improved collection of receivables[10] - The company reported a decrease in credit impairment losses, which were ¥-1,328,688.96 compared to ¥-3,756,637.98 in the previous period, indicating improved asset quality[29] Regulatory Issues - The company is under investigation by the China Securities Regulatory Commission for alleged information disclosure violations[21]