致欧家居科技股份有限公司 2025 年第三季度报告 证券代码：301376 证券简称：致欧科技 公告编号：2025-081 致欧家居科技股份有限公司 2025 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 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 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年同 | 年初至报告期末 | 年初至报告期末比 | | --- | --- | --- | --- | --- | | | | 期增减 | | 上年同期增减 | | 营业收入（元） | 2,037,452,570.89 | 1.53% | 6,081,613,629.49 | 6.18% | | 归属于 ...

Financial Performance - Revenue for the third quarter was ¥87,025,289.18, a decrease of 15.53% compared to the same period last year, and a year-to-date revenue of ¥156,243,542.53, down 77.18% year-on-year [3]. - Net profit attributable to shareholders was -¥630,841.92, a 99.94% increase in loss compared to the same period last year, with a year-to-date net profit of -¥2,065,946.01, also a 99.91% increase in loss [3]. - Total operating revenue for the current period is ¥156,243,542.53, a decrease of 77.2% compared to ¥684,531,004.24 in the previous period [19]. - Total operating costs for the current period are ¥168,522,339.93, down 93.1% from ¥2,433,473,278.90 in the previous period [19]. - The net profit for the current period is -¥2,065,946.01, showing an improvement from -¥2,323,851,050.45 in the previous period [20]. - The total comprehensive income for the current period is -¥2,065,946.01, compared to -¥2,316,812,148.30 in the previous period, indicating a reduction in losses [20]. - Basic and diluted earnings per share for the current period are both -¥0.0004, an improvement from -¥0.5104 in the previous period [20]. Cash Flow and Liquidity - The company reported a significant increase in cash flow from operating activities, with a year-to-date net cash flow of ¥66,786,923.84, up 170.84% [3]. - Cash flow from operating activities generated a net amount of ¥66,786,923.84, compared to ¥24,659,419.85 in the previous period, indicating a positive trend [21]. - Cash flow from investing activities resulted in a net inflow of ¥11,482,336.31, a significant recovery from -¥11,980,181.78 in the previous period [21]. - Cash flow from financing activities showed a net outflow of -¥34,656,098.02, an improvement from -¥68,557,890.87 in the previous period [22]. - The ending balance of cash and cash equivalents is ¥89,604,664.86, down from ¥134,282,394.29 in the previous period [22]. Assets and Liabilities - Total assets increased to ¥3,374,591,647.15, representing a 56.00% increase from the end of the previous year [3]. - Current assets decreased from CNY 872,606,602.27 to CNY 788,214,057.84, reflecting a decline of approximately 9.7% [16]. - Non-current assets increased from CNY 1,290,656,928.56 to CNY 2,586,377,589.31, representing a growth of about 100.5% [17]. - Total liabilities rose from CNY 624,804,254.05 to CNY 1,838,198,316.38, marking an increase of approximately 194.5% [17]. - The company's equity attributable to shareholders decreased slightly from CNY 1,538,459,276.78 to CNY 1,536,393,330.77, a change of about -0.1% [18]. - Cash and cash equivalents decreased from CNY 804,764,340.40 to CNY 550,308,471.30, a decline of approximately 31.5% [16]. - The company’s short-term borrowings increased by 136.76% compared to the beginning of the year, mainly due to new short-term loans from financial institutions [8]. - The company’s total liabilities increased significantly, with accounts payable rising by 5,986.10% due to the inclusion of new acquired assets [8]. Accounts Receivable and Other Receivables - Accounts receivable grew by 553.85% compared to the beginning of the year, primarily due to the inclusion of new acquired assets [8]. - Accounts receivable increased significantly from CNY 10,399,558.95 to CNY 67,998,003.71, reflecting a growth of about 552.5% [16]. - Other receivables rose from CNY 713,455.34 to CNY 69,245,102.16, a substantial increase of about 9670.5% [16]. Strategic Initiatives and Market Performance - The company reported a revenue increase of 15% year-over-year, reaching 1.2 billion RMB in Q3 2023 [24]. - User data showed a growth of 20% in active users, totaling 5 million by the end of Q3 2023 [24]. - The company provided a revenue guidance of 1.5 billion RMB for Q4 2023, representing a 10% increase compared to Q4 2022 [24]. - New product launches contributed to a 25% increase in sales in the environmental services segment [24]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by 2025 [24]. - Research and development expenses increased by 18%, focusing on sustainable technologies [24]. - The company completed a strategic acquisition of a local competitor, enhancing its service capabilities by 15% [24]. - The gross margin improved to 35%, up from 30% in the previous quarter [24]. - The company plans to invest 200 million RMB in new technology initiatives over the next two years [24]. - Customer satisfaction ratings improved to 90%, reflecting a 5% increase from the previous quarter [24]. Audit and Reporting - The company's financial report for the third quarter has not been audited [23].

证券代码：300379 证券简称：*ST 东通 公告编号：2025-定 006 北京东方通科技股份有限公司 2025 年第三季度报告 本公司及除董事程贤权外的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。 北京东方通科技股份有限公司 2025 年第三季度报告 董事程贤权因公司 2025 年 4 月 14 日被中国证监会以"涉嫌定期报告等财务数据存在虚假记载"立案，以及审计机 构对公司 2024 年度财务报告出具了无法表示意见的审计报告、对内控审计报告为否定意见、对关联方资金占用报告为保 留意见。在有权部门对涉案事项最终认定并生效前，公司《2025 年第三季度报告》中的相关事实及财务数据，本人作为 外部独立董事，不具备有效核验手段及时间、精力对其真实性、准确性、完整性作出明确判断。不能保证公告内容真 实、准确、完整。 重要内容提示： 1.董事会、监事会及除程贤权外的董事、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。 董事程贤权因公司 2025 年 4 月 14 日被中国证监会以"涉嫌定期报告等财务 ...

浙江盛洋科技股份有限公司 2025 年第三季度报告 证券代码：603703 证券简称：盛洋科技 浙江盛洋科技股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 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 | 项目 | 本报告期 | 本报告期比 | | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 上年同期增减 | 年初至报告期末 | 比上年同期增减 | | | | 变动幅度(%) | | 变动幅度(%) | | 营业收入 | 227,417,895.88 | 7.92 | 643,572,048.25 | ...

珠海市智迪科技股份有限公司 2025 年第三季度报告 证券代码：301503 证券简称：智迪科技 公告编号：2025-041 珠海市智迪科技股份有限公司 2025 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 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 珠海市智迪科技股份有限公司 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 | 年初至报告期末比上 年初至报告期末 | | | --- | --- | --- | --- | --- | | | | 增减 | 年同期增减 | | | 营业收入（元） | 426,462,204.79 | 1.7 ...

Financial Performance - The company's operating revenue for the third quarter was CNY 257,321,684.90, representing a year-on-year increase of 1.99%[3] - The total profit for the period was CNY -858,197.80, with a year-to-date profit of CNY 68,787,409.62, down 14.81% compared to the previous year[3] - The net profit attributable to shareholders was CNY -1,044,408.39 for the quarter, with a year-to-date net profit of CNY 56,268,124.65, a decrease of 15.85% year-on-year[3] - The total profit for the first three quarters of 2025 is CNY 68,787,409.62, a decrease of 14.5% compared to CNY 80,748,255.87 in the same period of 2024[17] - Net profit attributable to shareholders of the parent company is CNY 56,268,124.65, down 15.8% from CNY 66,867,951.68 year-on-year[17] - The total comprehensive income for the first three quarters of 2025 is CNY 56,494,946.78, down 16.1% from CNY 67,344,426.00 in 2024[17] Earnings and Shares - The basic earnings per share for the quarter was CNY -0.0040, down 16.41% compared to the same period last year[4] - Basic and diluted earnings per share for the current period are CNY 0.2037, compared to CNY 0.2437 in the previous year, reflecting a decline of 16.4%[18] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,390,361,472.08, an increase of 3.08% from the end of the previous year[4] - Total assets as of September 30, 2025, amounted to CNY 3,390,361,472.08, an increase from CNY 3,288,957,386.05 at the end of 2024, representing a growth of 3.1%[14] - Total liabilities increased to CNY 1,890,794,721.28 as of September 30, 2025, compared to CNY 1,807,670,467.31 at the end of 2024, marking an increase of 4.6%[14] - The company's equity attributable to shareholders reached CNY 1,480,458,035.43 as of September 30, 2025, up from CNY 1,463,023,160.55 at the end of 2024, indicating a growth of 1.2%[14] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 128,119,259.47, reflecting a significant increase of 63.35%[3] - Cash flow from operating activities for the first three quarters of 2025 is CNY 128,119,259.47, an increase of 63.5% from CNY 78,433,088.42 in the same period of 2024[19] - Cash flow from investing activities shows a net outflow of CNY 266,181,243.62, an improvement from a net outflow of CNY 309,737,505.31 in the previous year[20] - Cash flow from financing activities results in a net inflow of CNY 153,978,109.52, up from CNY 75,283,388.55 in the same period last year[20] - The company reported cash and cash equivalents at the end of the period amounting to CNY 267,793,464.57, an increase from CNY 216,690,168.79 at the end of the previous year[20] Shareholder Information - The company has a total of 21,518 common shareholders at the end of the reporting period[9] - The largest shareholder, Suzhou Saipu Growth Investment Management Co., Ltd., holds 36.73% of the shares, amounting to 101,450,008 shares[9] Operating Costs and Expenses - Total operating revenue for the first three quarters of 2025 was CNY 777,851,507.72, a decrease of 15.4% compared to CNY 919,028,962.23 in the same period of 2024[16] - Total operating costs for the first three quarters of 2025 were CNY 710,734,082.58, down 15.0% from CNY 835,876,755.28 in the previous year[16] - Operating profit for the first three quarters of 2025 was CNY 67,555,281.51, a decline of 8.5% from CNY 73,420,904.57 in the same period of 2024[16] - Research and development expenses for the first three quarters of 2025 were CNY 52,995,151.04, a decrease of 9.6% from CNY 58,501,025.02 in the same period of 2024[16] - The company reported an investment income of CNY 7,532,375.68 for the first three quarters of 2025, down from CNY 9,645,037.01 in the previous year, reflecting a decline of 22.0%[16] Other Information - The company reported a decrease in the weighted average return on net assets to -0.08%, down 0.74 percentage points from the previous year[4] - The company has not executed any mergers or acquisitions during the reporting period, with no net profit from merged entities reported[18] - The company's cash flow from operating activities showed a positive trend, with a notable increase in cash reserves compared to the previous reporting period[12] - Cash and cash equivalents increased to CNY 334,860,462.71 as of September 30, 2025, compared to CNY 324,254,334.65 at the end of 2024, reflecting a growth of 0.5%[12] - Operating cash inflows totaled CNY 1,050,128,329.84, a decrease of 13.4% compared to CNY 1,213,489,803.78 in the same period of 2024[19]

江苏亨通光电股份有限公司 2025 年第三季度报告 证券代码：600487 证券简称：亨通光电 江苏亨通光电股份有限公司 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 | 17,571,945,333.54 | 11.32 ...

Revenue and Profitability - The company's revenue for Q3 2025 was ¥80,044,928.96, a decrease of 56.23% compared to the same period last year[3] - Net profit attributable to shareholders was ¥4,725,542.74, down 75.96% year-on-year, while the net profit excluding non-recurring items was ¥1,730,845.74, a decline of 91.11%[3] - The company reported total operating revenue of ¥384,404,267.46 for the current period, an increase of 12.7% compared to ¥341,043,675.30 in the previous period[28] - The company's operating profit for the current period was ¥35,946,535.20, a significant recovery from a loss of ¥25,739,592.76 in the previous period[29] - The company reported a net profit of ¥33,991,717.98, a significant improvement compared to a net loss of ¥15,391,129.66 in the previous period, marking a turnaround in performance[30] - Basic and diluted earnings per share were both ¥0.25, compared to a loss of ¥0.10 per share in the prior period, indicating a positive shift in profitability[31] Cash Flow and Financial Health - The operating cash flow net amount reached ¥132,588,328.88, an increase of 350.17% year-to-date[11] - The cash flow from financing activities showed a net outflow of ¥89,984,681.07, a decrease of 250.55% compared to the previous year[11] - The company's cash flow from operating activities showed improvement, contributing positively to the overall financial health despite the decrease in cash reserves[28] - Operating cash flow increased to ¥132,588,328.88, recovering from a negative cash flow of ¥52,998,903.03 in the previous year, reflecting improved operational efficiency[33] - The total cash inflow from financing activities was ¥88,819,708.83, slightly higher than ¥86,546,967.29 in the previous period, indicating stable financing operations[33] - The company incurred total cash outflows from investing activities of ¥124,473,241.82, compared to ¥115,946,017.73 in the previous year, reflecting ongoing investment efforts[33] - The net cash flow from investing activities was negative at ¥61,303,021.29, worsening from a negative cash flow of ¥48,497,215.84 in the prior period, indicating increased investment expenditures[33] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,488,896,963.48, reflecting a 3.13% increase from the end of the previous year[4] - The total current assets increased to ¥1,224,016,358.88 from ¥1,133,183,423.05, marking an increase of 8.0%[24] - The total liabilities increased to ¥692,262,467.17 from ¥677,332,827.78, reflecting a rise of 2.8%[26] - The company's total equity increased to ¥796,634,496.31 from ¥766,354,779.30, an increase of 3.9%[26] Shareholder Information - The total number of common shareholders at the end of the reporting period is 17,081[12] - The largest shareholder, Chai Minghua, holds 16.79% of shares, totaling 23,520,500 shares[12] - The second-largest shareholder, Gao Junpeng, holds 14.10% of shares, totaling 19,744,300 shares, with 5,000,000 shares pledged[12] - The company has a total of 49,453,617 restricted shares at the beginning of the period, with 2,084,645 shares released during the period, leaving 47,368,972 restricted shares at the end[16] Legal and Regulatory Matters - The company has initiated legal proceedings against Hebei Guangxing Semiconductor for a breach of a contract worth RMB 205 million, with a claim amounting to approximately RMB 55.91 million[17] - The company’s registered capital has been changed from RMB 140,137,029 to RMB 140,077,029, with the total number of shares adjusted accordingly[19] - The company has not yet audited its third-quarter financial report, which may impact the reliability of the reported figures[35] Government Subsidies and Financing - The company received government subsidies amounting to ¥3,058,616.79, primarily related to a project on flexible OLED driver circuit packaging technology[6] Inventory and Costs - Total operating costs for the current period were ¥352,360,775.34, slightly up from ¥345,081,366.05 in the previous period, reflecting a cost increase of 2.4%[29] - Inventory levels rose to ¥655,911,961.36 from ¥642,948,119.62, indicating an increase of 2.0%[23] - The company's cash and cash equivalents decreased to ¥104,738,195.48 from ¥141,598,623.16, a decline of 26.0%[23] - The company experienced a decrease in cash and cash equivalents, with a net decrease of ¥18,616,711.23, compared to a larger decrease of ¥41,630,748.79 in the previous year[34] Investments - The company’s long-term investments decreased to ¥9,514,466.13 from ¥10,546,381.44, a decline of 9.8%[24] - The company reported a significant increase in receivables financing, which rose by 206.64% to ¥29,629,432.58 due to the receipt of high-credit receivable notes[9]

Financial Performance - Revenue for Q3 2025 reached ¥601,609,267.42, an increase of 17.58% compared to the same period last year[5] - Net profit attributable to shareholders was ¥20,604,331.22, representing a significant increase of 176.93% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥15,378,358.61, up 155.51% from the previous year[5] - The company's basic earnings per share for the quarter was ¥0.04, up 166.67% year-on-year[5] - The weighted average return on equity increased to 0.73%, a rise of 165.18% compared to the same period last year[5] - The company achieved operating revenue of 168,768.61 million yuan, a decrease of 24.49% year-on-year; gross margin was 28.34%, an increase of 9.23 percentage points[15] - Net profit attributable to shareholders was 4,933.65 million yuan, a year-on-year increase of 446.75%; net profit excluding non-recurring gains and losses was 3,580.67 million yuan, a year-on-year increase of 3,969.23%[15] - Net profit for the period reached ¥47,290,633.59, compared to a net profit of ¥3,059,835.65 in the previous year[32] - The company's net profit attributable to the parent company was 49,112,509.17 yuan, compared to 5,282,046.18 yuan in the previous period, indicating a significant increase[33] - The company reported basic and diluted earnings per share of 0.10 yuan, up from 0.02 yuan in the previous period[33] Cash Flow and Assets - Operating cash flow net amount for the year-to-date was ¥186,533,249.20, a remarkable increase of 943.67%[9] - The net cash flow from financing activities was ¥20,575,610.08, an increase of 191.11% compared to the previous year[9] - The net cash flow from operating activities was 186,533,249.20 yuan, a turnaround from a negative cash flow of -22,109,745.08 yuan in the previous period[35] - Cash and cash equivalents at the end of the period were 785,146,127.24 yuan, an increase from 689,099,556.79 yuan in the previous period[36] - The company received cash inflows from investment activities totaling 1,292,640,689.94 yuan, compared to 1,090,627,324.98 yuan in the previous period[35] - Cash inflows from financing activities were 788,440,740.66 yuan, slightly up from 784,863,224.44 yuan in the previous period[35] - The net cash flow from investing activities was -119,539,709.45 yuan, an improvement from -248,145,203.15 yuan in the previous period[35] - The company experienced a foreign exchange loss of -5,124,020.13 yuan, compared to -1,469,343.36 yuan in the previous period[35] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,050,778,858.13, reflecting a 1.94% increase from the end of the previous year[5] - The company's total assets increased to ¥6,050,778,858.13 from ¥5,935,672,430.73 at the beginning of the period, reflecting a growth of 1.9%[29] - Current assets totaled ¥4,206,081,406.44, slightly up from ¥4,161,618,903.25 at the start of the period[28] - The company's total liabilities were ¥3,084,370,313.61, compared to ¥3,040,498,140.86 at the beginning of the period, an increase of 1.4%[29] - Short-term borrowings decreased to ¥298,881,998.61 from ¥361,926,429.36, a reduction of 17.4%[29] - The equity attributable to shareholders of the parent company rose to ¥2,848,807,578.82 from ¥2,796,612,533.17, an increase of 1.9%[29] Shareholder Information - Total number of common shareholders at the end of the reporting period is 71,586[10] - The largest shareholder, Wu Fengli, holds 30.32% of shares, totaling 144,629,860 shares[10] - The second-largest shareholder, Yang Shuangbao, holds 4.73% of shares, totaling 22,562,331 shares[10] - The third-largest shareholder, Huang Daibo, holds 3.80% of shares, totaling 18,143,309 shares[10] - China Construction Bank holds 2.27% of shares, totaling 10,810,776 shares[10] - The company holds 4,471,668 shares through a stock repurchase account, accounting for 0.94% of total share capital[12] - The top 10 shareholders do not have any changes in their shareholding due to securities lending[12] - The top 10 unrestricted circulating shareholders include various investment funds and individuals, with the largest being Wu Fengli[11] - The company does not have any preferred shareholders or changes in limited shares during the reporting period[12] - No shareholders with over 5% ownership participated in securities lending activities[12] Business Operations - Inventory increased by 39.28% to ¥877,509,481.70, primarily due to increased contract performance costs[8] - The company approved a financing lease guarantee for Runyang New Energy's debt repayment of 26.78 million yuan, with a guarantee period not exceeding 30 months[25] - The company plans to transfer 70 million yuan of debt to Runyang Co., increasing its stake to 3,937,500 shares, representing 0.7731% of the target company's total equity[22] - The company has officially launched its expansion projects for smart devices and injection molding and CNC machine equipment, establishing a new main manufacturing headquarters[23] - The company will no longer have a supervisory board, with the responsibilities transferred to the audit committee of the board of directors[23] Research and Development - Research and development expenses for the period were ¥85,163,538.78, slightly up from ¥84,515,507.54 year-on-year[32] Financial Reporting - The company did not undergo an audit for the third quarter financial report[37]

Financial Performance - The net profit attributable to shareholders for the first three quarters reached CNY 233 million, an increase of CNY 74.9 million year-on-year[3]. - Total revenue for the reporting period was CNY 16.75 billion, representing a year-on-year increase of 14.29%[7]. - The total profit for the period was CNY 140.87 million, with a total profit of CNY 309.25 million year-to-date[7]. - The basic earnings per share for the reporting period was CNY 0.0018, with a diluted earnings per share also at CNY 0.0018[7]. - Net profit attributable to the parent company for the first three quarters of 2025 was CNY 6.13 billion, compared to CNY 5.98 billion in 2024, reflecting a growth of 2.5%[19]. - The net profit for the first three quarters of 2025 is CNY 239,016,879.88, a significant recovery from a net loss of CNY 695,344,008.22 in the same period of 2024[21]. - Operating profit for the current period is CNY 321,745,496.20, compared to an operating loss of CNY 676,711,598.49 in the previous year[21]. - Total revenue for the first three quarters of 2025 was ¥45.27 billion, a decrease of 7.5% compared to ¥48.71 billion in the same period of 2024[32]. - Net profit for the first three quarters of 2025 was ¥319.31 million, a decline of 15.9% compared to ¥379.64 million in 2024[33]. Production and Sales - The company produced 7.1114 million tons of specialty steel from January to September, up 18.1% year-on-year, with rare earth steel new material output increasing by 8.28%[4]. - The sales volume of heavy rails increased by 23.59%, oriented silicon steel sales surged by 375.27%, and automotive steel sales rose by 20.1% during the same period[4]. Costs and Expenses - The manufacturing cost per ton of steel decreased by 2.45% compared to the previous year, following a 2.8% reduction in the prior year[4]. - Total operating costs for the first three quarters of 2025 were CNY 47.65 billion, down 5.2% from CNY 50.24 billion in 2024[20]. - Research and development expenses increased significantly to CNY 712.82 million, up 92.3% from CNY 370.58 million in the previous year[20]. - Research and development expenses increased significantly to ¥545.93 million, up 126.7% from ¥240.71 million in 2024[33]. Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 155.47 billion, reflecting a 0.22% increase from the end of the previous year[7]. - Total assets as of the end of the reporting period amounted to ¥157.37 billion, an increase from ¥153.97 billion year-over-year[30]. - Total liabilities increased to CNY 93.99 billion, compared to CNY 93.82 billion in the previous year, indicating a rise of 0.2%[19]. - Total liabilities reached ¥98.88 billion, up from ¥95.72 billion in the previous year[30]. - Non-current liabilities totaled ¥25.02 billion, an increase of 9.8% from ¥22.79 billion in 2024[30]. Cash Flow - Cash flow from operating activities for the first three quarters of 2025 is CNY 740,107,618.48, down from CNY 897,619,923.10 in 2024[25]. - The company incurred a net cash outflow from investing activities of CNY 1,388,076,452.60 in the first three quarters of 2025, compared to CNY 1,960,808,716.65 in 2024[26]. - The net cash flow from investment activities was -¥1,397,378,365.07 in 2025, an improvement from -¥1,913,449,502.01 in 2024, indicating a reduction in cash outflow by approximately 27%[36]. - The total cash outflow from operating activities was ¥53,904,402,658.02 in 2025, compared to ¥55,944,319,135.58 in 2024, reflecting a decrease of approximately 3.7%[36]. Shareholder Information - The top shareholder, Baotou Steel (Group) Co., Ltd., holds 55.38% of the shares, amounting to 25,082,792,537 shares[12]. - The total number of ordinary shareholders at the end of the reporting period was 830,188[12]. - The company has repurchased a total of 18,322,600 shares, representing 0.040% of the total share capital, with a total expenditure of RMB 41,500,026[14]. - The company plans to repurchase shares with a total amount not less than RMB 100 million and not exceeding RMB 200 million within 12 months[14]. - The maximum repurchase price for shares is set at RMB 2.73 per share[14]. Inventory and Receivables - The accounts receivable increased to RMB 4,257,551,255.83 from RMB 3,855,735,508.90, indicating a growth of approximately 10.4%[16]. - The company reported a significant increase in receivables financing, rising to RMB 8,786,485,362.27 from RMB 4,655,648,927.49, reflecting a growth of approximately 88.5%[16]. - The company’s inventory decreased to CNY 14.22 billion from CNY 14.78 billion, a reduction of 3.8%[17]. - The company’s inventory decreased to CNY 11,484,930,236.00 as of September 30, 2025, from CNY 12,085,584,529.39 at the end of 2024[28].