Financial Performance - The company's revenue for Q3 2025 was ¥859.6 million, a decrease of 9.89% compared to the same period last year[4]. - Net profit attributable to shareholders for Q3 2025 was ¥152.4 million, down 1.62% year-on-year, while net profit for the first nine months increased by 54.23% to ¥587.7 million[4][7]. - Cement sales volume increased by 6.37% year-on-year, and the combined sales of cement and clinker rose by 5.05%[7]. - The company reported a total asset of CNY 13,231,613,911.18 as of September 30, 2025, down from CNY 13,499,258,326.62 at the beginning of the period, representing a decrease of approximately 1.98%[19]. - Total operating revenue for the current period is ¥2,915,848,225.02, a slight decrease from ¥2,930,081,005.21 in the previous period, representing a decline of approximately 0.4%[21]. - Net profit for the current period is ¥594,340,861.06, up from ¥393,949,059.24, indicating an increase of approximately 50.9%[22]. - The total profit for the current period is ¥749,815,300.71, compared to ¥511,038,396.62 in the previous period, marking an increase of about 46.7%[21]. Cost and Profitability - The average sales cost of cement decreased by 7.03%, which was greater than the 4.34% decline in cement sales prices, improving profitability in the main business[7]. - The company plans to continue optimizing costs and improving efficiency to enhance profitability in the upcoming quarters[7]. - Sales expenses increased by 1,775.49 million RMB, a rise of 30.73%, primarily due to higher cement packaging costs[10]. - R&D expenses decreased by 576.83 million RMB, down 39.95%, mainly due to reduced material consumption for current R&D projects[10]. - Financial expenses improved by 1,238.80 million RMB, a decrease of 43.86%, attributed to lower deposit interest rates and a reduction in deposit scale[10]. Cash Flow and Investments - The company’s cash flow from operating activities for the first nine months was ¥260.4 million, an increase of 27.72%[4]. - Operating cash flow net amount rose by 5,652.45 million RMB, an increase of 27.72%, benefiting from improved profitability in the cement business[12]. - Cash received from the disposal of fixed assets increased by 2,312.16 million RMB, a rise of 76.47%, due to proceeds from fixed asset disposals[12]. - Investment cash outflows increased by 630,110.45 million RMB, up 30.67%, mainly due to a larger scale of treasury bond reverse repurchase products[12]. - The company reported an investment activity cash flow net loss of ¥89,304,488.64, contrasting with a net gain of ¥951,353,529.00 in the previous period[25]. Assets and Liabilities - Total assets as of September 30, 2025, were ¥13.23 billion, a decrease of 1.98% from the end of the previous year[4]. - Current assets totaled CNY 6,367,852,359.35, showing an increase from CNY 6,272,931,836.77, which is an increase of about 1.51%[18]. - Cash and cash equivalents decreased to CNY 1,112,099,768.88 from CNY 1,567,853,102.87, a decline of approximately 29.05%[18]. - The company's total liabilities decreased to CNY 1,189,291,237.59 from CNY 1,489,696,994.78, reflecting a reduction of about 20.14%[20]. - The total equity attributable to the parent company increased to CNY 11,980,316,600.13 from CNY 11,954,116,618.28, indicating a growth of approximately 0.22%[20]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 37,275[14]. - The largest shareholder, Zhong Liehua, holds 16.61% of the shares, totaling 198,001,330 shares[14]. - The company held 24,242,208 shares in its repurchase account, accounting for 2.03% of the total share capital[15]. Earnings Per Share - Basic and diluted earnings per share increased to ¥0.50 from ¥0.33, reflecting a growth of approximately 51.5%[22].

Financial Performance - The company's operating revenue for Q3 2025 was ¥2,512,547,184.15, a decrease of 11.81% compared to the same period last year[5]. - Net profit attributable to shareholders for the same period was ¥242,815,951.88, an increase of 24.43% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥212,572,464.39, up 14.37% from the previous year[5]. - The basic and diluted earnings per share were both ¥0.1535, reflecting a year-on-year increase of 24.39%[5]. - The net profit attributable to shareholders for the first three quarters of 2025 was CNY 762.13 million, reflecting a significant year-over-year growth of 25.78%[18]. - The net profit excluding non-recurring gains and losses for the first three quarters of 2025 was CNY 676.74 million, a year-over-year increase of 46.39%[18]. - Net profit for the current period was ¥892,754,398.30, representing a growth of 26.67% from ¥704,883,689.57 in the previous period[30]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥40,962,061,364.35, representing a 1.24% increase from the end of the previous year[5]. - The equity attributable to shareholders increased by 5.10% to ¥12,338,096,966.53 compared to the end of the previous year[5]. - The company's total assets increased to ¥40,962,061,364.35, compared to ¥40,458,909,504.71 in the previous period, marking a growth of 1.24%[28]. - Current liabilities totaled ¥11,764,304,280.60, a decrease of 4.90% from ¥12,369,784,627.18 in the previous period[28]. - Long-term borrowings rose to ¥8,659,244,824.74, slightly up from ¥8,596,081,995.59, indicating a growth of 0.73%[28]. - The total liabilities decreased to ¥26,778,897,883.03 from ¥26,995,116,072.75, a decline of 0.81%[28]. - The total equity attributable to shareholders increased to ¥12,338,096,966.53 from ¥11,739,012,134.39, showing a growth of 5.09%[28]. Cash Flow - Cash flow from operating activities for the year-to-date was ¥2,343,434,911.68, an increase of 35.34%[5]. - The net cash flow from operating activities improved by 35.34% to ¥2,343,434,911.68, driven by the expansion of distributed photovoltaic and energy storage services[11]. - Net cash flow from financing activities decreased by 101.10% to -¥42,363,046.42, as the previous year included significant borrowings for acquisitions[11]. - Cash inflow from operating activities totaled ¥9,026,953,939.75, a decrease of 14.3% compared to ¥10,532,830,881.50 last year[32]. - Cash outflow from investing activities was ¥2,832,257,364.32, down 46.2% from ¥5,259,820,993.54 in the previous period[33]. - The ending balance of cash and cash equivalents was ¥3,954,489,917.96, a decrease from ¥4,152,819,404.97 in the previous period[33]. - The company received cash from sales of goods and services amounting to ¥8,665,907,137.36, down 10.6% from ¥9,699,017,252.47[32]. Operational Highlights - The company reported a significant decrease in inventory by 60.65% to ¥252,003,263.10, primarily due to sales of photovoltaic power station inventory[10]. - The company’s non-current asset disposal gains for the current period amounted to ¥26,488,717.16, contributing to overall profitability[7]. - The company's operating revenue for the period reached ¥7,934,936,149.27, an increase of 5.07% compared to ¥7,552,252,949.60 in the previous year, primarily due to the expansion of distributed photovoltaic business[11]. - Operating costs increased to ¥5,741,560,383.21, reflecting a growth of 2.80% in line with revenue growth[11]. - Research and development expenses significantly decreased by 74.87% to ¥4,892,494.95, attributed to reduced capitalization of prior R&D expenditures[11]. - The total installed capacity of the company's grid-connected operations was 6,402.41 MW, with renewable energy accounting for 60.08% of the total generation capacity[19][20]. - The company added 858.70 MW of distributed photovoltaic capacity in the first nine months of 2025, bringing the total to 1,910.54 MW[21]. - The company managed a total electricity sales volume of approximately 24.12 billion kWh in the first three quarters of 2025[21]. - The virtual power plant business has expanded from Jiangsu to regions including Shanghai, Zhejiang, Sichuan, and Shenzhen, with an adjustable load capacity of approximately 835 MW[21]. - The company is actively developing key projects, including a 2,400 MW pumped storage power station, which is progressing according to schedule[20]. Strategic Initiatives - The company is focusing on the dual-driven strategy of "energy assets" and "energy services" to align with national carbon neutrality goals[16]. - The company is enhancing its energy service offerings, particularly in energy efficiency and trading services, including distributed photovoltaic projects[16]. - The company is advancing its digital transformation in the energy sector, integrating heavy asset operations with light asset digital finance[16]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 78,034, with the largest shareholder holding 42.72% of the shares[13].

Financial Performance - The company's revenue for Q3 2025 reached ¥136,144,982, representing a 22.38% increase compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥1,382,256.41, a decrease of 111.99% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥2,019,250.48, down 119.55% from the previous year[5]. - Basic earnings per share were -¥0.0176, a decline of 112.05% year-on-year[5]. - Total operating revenue for the current period reached ¥332,514,649.44, an increase of 32% compared to ¥251,841,486.63 in the previous period[19]. - Net profit for the current period was ¥4,700,527.55, a decrease of 64% from ¥13,245,911.82 in the previous period[20]. - Earnings per share (basic) decreased to ¥0.0917 from ¥0.1558 year-over-year[21]. - The total comprehensive income for the current period was ¥4,700,527.55, down from ¥13,245,911.82 in the previous period[21]. Cash Flow - The cash flow from operating activities showed a net outflow of ¥14,586,531.39, a decrease of 126.82% compared to the same period last year[5]. - Cash inflow from operating activities totaled ¥234,203,880.19, down 25% from ¥311,463,171.48 in the previous period[22]. - The net cash flow from operating activities was -$14.59 million, a significant decrease from $54.39 million in the previous period[23]. - The company reported a total cash outflow from operating activities of $248.79 million, slightly down from $257.07 million[23]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,403,241,266.36, an increase of 17.35% from the end of the previous year[5]. - Current assets totaled RMB 570,597,979.44, up from RMB 475,707,746.75 at the start of the period, reflecting a growth of approximately 19.93%[16]. - The total liabilities increased to RMB 580,365,776.24 from RMB 409,072,615.30, indicating a rise of about 42.0%[16]. - Total liabilities rose to ¥665,109,654.05, compared to ¥453,006,691.99 in the previous period, indicating a significant increase[19]. - The company’s non-current assets totaled RMB 832,643,286.92, an increase from RMB 720,097,823.79, reflecting a growth of approximately 15.6%[16]. Investments and Strategic Initiatives - The company reported a strategic investment of ¥10,828,300 in stock incentives for core team members, impacting profit margins[8]. - The company completed the acquisition of a 10% stake in Times Insulation on August 26, 2025, as part of its strategic expansion efforts[13]. - Zhejiang Bofi Electric announced the sale of its wholly-owned subsidiary, Zhejiang Bofi New Energy Technology Co., Ltd., for RMB 38,522,517.26, with RMB 15,000,000 already received[13]. - The company plans to issue shares to specific investors under a simplified procedure, with the application currently under review by the China Securities Regulatory Commission[12]. - The company plans to continue expanding its product offerings, particularly in insulation resin products, to drive future growth[8]. Operational Metrics - The increase in revenue was attributed to the recovery in the wind power industry and stable growth in rail transit business[8]. - The company reported a significant increase in tax expenses, with current period tax expenses at ¥1,940,845.34 compared to a tax benefit of ¥323,065.11 in the previous period[20]. - Research and development expenses increased to ¥26,434,318.33, representing a 48% rise from ¥17,841,335.38 in the previous period[19]. Inventory and Receivables - Accounts receivable increased significantly to RMB 316,691,456.10 from RMB 181,833,874.39, representing a growth of about 74.25%[15]. - The company’s inventory increased to RMB 81,622,672.98 from RMB 66,241,104.02, marking a growth of about 23.3%[15]. Cash and Equivalents - The company reported a decrease in cash and cash equivalents to RMB 53,717,757.01 from RMB 95,830,000.21, a decline of approximately 44.76%[15]. - The ending cash and cash equivalents balance was $53.72 million, down from $56.87 million last year[23]. Accounting and Auditing - The company did not undergo an audit for the third quarter financial report[24]. - The new accounting standards will be implemented starting in 2025[24].

Revenue and Profit - The company's revenue for Q3 2025 reached ¥61,485,536.33, representing a 15.39% increase compared to the same period last year[5] - The net profit attributable to shareholders decreased by 3.90% to ¥21,117,872.06 for Q3 2025, and by 22.90% to ¥40,195,442.72 for the year-to-date[5] - Total operating revenue for the current period reached ¥132,204,074.44, an increase of 12.4% compared to ¥117,395,931.55 in the previous period[19] - Net profit for the current period was ¥40,188,401.47, a decrease of 23.0% from ¥52,133,089.84 in the previous period[20] - Basic and diluted earnings per share decreased to ¥0.40 from ¥0.52 in the previous period[20] Assets and Liabilities - The total assets at the end of Q3 2025 were ¥1,043,203,016.60, down 2.29% from the end of the previous year[5] - Total current assets decreased to ¥599,638,995.03 from ¥679,169,069.07, a decline of about 11.7%[16] - Non-current assets increased to ¥443,564,021.57 from ¥388,523,346.61, reflecting an increase of approximately 14.2%[16] - Total liabilities decreased to ¥70,032,207.02 from ¥74,933,447.57 in the previous period[17] - Total equity attributable to shareholders decreased to ¥972,954,410.83 from ¥992,758,968.11 in the previous period[17] Cash Flow - The cash flow from operating activities for the year-to-date increased significantly by 113.70% to ¥87,009,420.81[5] - Cash generated from operating activities was ¥206,994,169.62, compared to ¥136,032,791.54 in the previous period, indicating a significant increase[22] - The net cash flow from operating activities was $87,009,420.81, an increase from $40,716,231.19 in the previous period, reflecting a growth of approximately 113.3%[23] - The net cash flow from investment activities increased by 74.05% to ¥21,568,485.85, primarily due to the redemption of financial products[10] - The net cash flow from financing activities was -$62,140,734.67, slightly improved from -$62,663,838.00 in the previous period[24] Shareholder Information - Total number of common shareholders at the end of the reporting period is 12,887[12] - The largest shareholder, Fang Hua, holds 33.82% of shares, totaling 33,823,637 shares[12] - The company has a total of 4,500,000 shares held by Meishi Phase II Enterprise Management Consulting (Guangzhou) Partnership, accounting for 4.50% of shares[12] Operating Costs and Expenses - Operating costs for Q3 2025 were ¥47,427,002.15, a 68.50% increase attributed to revenue growth and related operational expenses[10] - Total operating costs increased to ¥97,451,925.04, up 46.2% from ¥66,655,230.08 in the previous period[19] - The company reported a financial expense of -¥4,653,090.12, an improvement from -¥8,193,762.61 in the previous period[19] - The company’s research and development expenses remained stable at approximately ¥12,898,958.32, slightly down from ¥12,955,756.41 in the previous period[19] Investment Activities - The company reported a substantial increase in construction in progress, which rose by 220.90% to ¥72,069,804.29, indicating ongoing expansion efforts[9] - The company experienced a 97.68% decrease in non-operating income, totaling ¥47,989.75, due to the absence of government subsidies during the reporting period[10] - Cash inflow from investment activities totaled $980,260,259.95, compared to $782,799,102.32 in the prior period, indicating an increase of about 25.2%[23] - The company reported cash inflow from the recovery of investments at $963,000,000.00, up from $780,000,000.00, indicating an increase of about 23.4%[23]

Revenue and Profitability - The company's revenue for Q3 2025 was ¥227,585,972.29, representing a year-on-year increase of 5.89% and a quarter-on-quarter increase of 14.06%[5]. - The net profit attributable to shareholders for Q3 2025 was a loss of ¥4,199,758.96, a decrease of 73.05% year-on-year, while the net profit for the first nine months was a loss of ¥43,968,579.36, down 55.45%[5]. - Total operating revenue for the current period was ¥684,801,812.61, a decrease of 1.6% from ¥695,353,730.50 in the previous period[22]. - Operating profit for the current period was -¥46,856,660.27, compared to -¥28,282,613.33 in the previous period, indicating a worsening performance[23]. - Net profit for the current period was -¥44,113,032.26, compared to -¥28,423,384.07 in the previous period, reflecting a significant increase in losses[23]. - Basic and diluted earnings per share were both -¥0.1, compared to -¥0.06 in the previous period, indicating a decline in profitability[24]. Cash Flow and Financial Activities - The cash flow from operating activities for the first nine months of 2025 was a net outflow of ¥58,649,515.69, which is an improvement of 31.53% compared to the same period last year[5]. - Cash inflow from operating activities was ¥810,596,919.43, an increase from ¥776,869,666.09 in the previous period[25]. - The net cash flow from operating activities was -$58.65 million, an improvement from -$85.66 million in the previous period[26]. - Cash inflow from financing activities was $42.40 million, with a net cash flow of $23.03 million, compared to a net outflow of -$77.05 million previously[26]. - The company paid $14.03 million in dividends and interest, a decrease from $71.13 million in the prior period[26]. - The cash outflow from operating activities totaled $869.25 million, slightly up from $862.52 million previously[26]. Assets and Liabilities - The total assets at the end of Q3 2025 were ¥1,891,741,330.20, a decrease of 5.03% from the end of the previous year[5]. - Total current assets decreased from ¥1,568,295,902.36 to ¥1,357,001,984.58, a decline of approximately 13.5%[19]. - Total liabilities decreased to ¥499,029,899.39 from ¥541,379,249.12, a reduction of approximately 7.8%[20]. - Total equity decreased to ¥1,392,711,430.81 from ¥1,450,658,542.23, a decline of about 4%[20]. - Total non-current assets increased from ¥423,741,888.99 to ¥534,739,345.62, an increase of about 26.2%[19]. Inventory and Receivables - The company has focused on enhancing supply chain management, resulting in a 13.38% decrease in the book value of inventory compared to the beginning of the year[5]. - The accounts receivable at the end of the reporting period was ¥543,000,000, a decrease of 9.62% from the previous half-year and a decrease of 25.19% year-on-year[5]. - Accounts receivable decreased from ¥569,920,120.90 to ¥543,429,406.56, a decrease of approximately 4.7%[19]. - Inventory decreased from ¥199,024,845.42 to ¥172,404,423.06, a decline of about 13.4%[19]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 79,164[14]. - The largest shareholder, Wenzhou Xianghongwan Enterprise Management Co., Ltd., holds 45.54% of shares, totaling 210,000,000 shares[14]. - The company has no preferred shareholders or significant changes in shareholder structure reported[16]. Research and Development - The company is actively integrating AI, national encryption algorithms, blockchain, and quantum encryption technologies into its products, driving innovation in embedded security and digital currency solutions[6]. - Research and development expenses decreased to ¥61,827,072.20 from ¥73,408,792.67, a reduction of approximately 15.7%[23]. Financial Expenses - The financial expenses for the first nine months of 2025 increased by 49.29% year-on-year, primarily due to a decline in bank deposit interest income[11].

Financial Performance - Q3 2025 revenue reached CNY 1,534,248,068.76, a 10.74% increase compared to CNY 1,385,664,850.01 in the same period last year[4] - Net profit attributable to shareholders decreased by 41.42% to CNY 67,510,968.82 from CNY 115,531,408.00 year-on-year[4] - Basic earnings per share fell by 41.40% to CNY 0.0586 from CNY 0.1002 in the same quarter last year[5] - Total operating revenue for the current period reached CNY 3,918,475,506.66, an increase from CNY 3,801,884,388.21 in the previous period, representing a growth of approximately 3.1%[20] - Net profit for the current period was CNY 243,433,553.04, slightly higher than CNY 243,015,956.99 from the previous period, reflecting a marginal increase[21] - The total comprehensive income for the period attributable to the parent company's owners was 243,465,830.15 yuan, compared to 244,357,915.98 yuan in the previous period[22] - The basic and diluted earnings per share for the period were both 0.2113, slightly down from 0.2119 in the previous period[22] Cash Flow and Liquidity - Operating cash flow increased significantly by 142.11% to CNY 1,265,157,178.48 from CNY 522,608,987.73 in the previous year[4] - The net cash flow generated from operating activities was 1,265,157,178.48 yuan, an increase from 522,547,112.12 yuan in the previous period, reflecting a significant improvement[25] - Cash inflows from operating activities totaled 4,726,747,461.50 yuan, up from 4,468,512,291.50 yuan year-over-year[25] - The cash outflows from operating activities decreased to 3,461,590,283.02 yuan from 3,945,965,179.38 yuan, indicating better cost management[25] - The ending balance of cash and cash equivalents was 190,879,985.49 yuan, compared to 154,468,695.20 yuan at the end of the previous period, showing a positive cash position[25] Assets and Liabilities - Total assets decreased by 9.11% to CNY 7,011,856,578.62 from CNY 7,714,550,508.01 at the end of the previous year[5] - Current liabilities totaled CNY 1,887,608,741.21, down from CNY 2,608,753,702.25, showing a reduction of about 27.5%[19] - Long-term equity investments decreased to CNY 42,177,490.56 from CNY 45,356,888.44, a decline of about 6.0%[19] - The company's total assets decreased to CNY 7,011,856,578.62 from CNY 7,714,550,508.01, a decline of approximately 9.1%[19] Shareholder Information - The total number of common shareholders at the end of the reporting period is 40,899[10] - The largest shareholder, Shenzhen Agricultural and Food Investment Holding Group Co., Ltd., holds 63.79% of shares, totaling 735,237,253 shares[10] - Shenzhen Agricultural Products Group Co., Ltd. is the second-largest shareholder with an 8.23% stake, amounting to 94,832,294 shares[10] Expenses and Investments - Management expenses rose by 26% to CNY 149,732,985.51, mainly due to increased salary provisions[9] - Research and development expenses increased to CNY 16,603,254.16 from CNY 15,805,858.43, indicating a growth of approximately 5.0%[21] - The company approved an investment decision for a new beverage tea production technology upgrade project with a total investment not exceeding 18.37 million yuan[13] - The company has initiated a food processing project investment decision for Dongguan Shenglian Logistics Co., Ltd.[12] Other Financial Metrics - The company reported a 683% increase in prepayments to CNY 76,534,807.50, primarily due to increased advance payments for grain purchases[9] - The company recorded a 290% increase in asset disposal income to CNY 20,248,565.40, attributed to land disposal gains[9] - Other income decreased by 33% to CNY 5,640,348.76, primarily due to a reduction in government subsidies received[9] - The company's short-term borrowings decreased by 50% to CNY 742,044,604.54, reflecting repayment of loans during the period[9] - The net cash flow from investing activities was -999,223.94 yuan, an improvement from -188,139,951.62 yuan in the previous period, suggesting reduced investment losses[25] - Cash inflows from financing activities were 1,259,977,677.19 yuan, down from 2,725,016,681.36 yuan in the previous period, indicating a decrease in borrowing[25] - The net cash flow from financing activities was -1,232,156,733.50 yuan, compared to -416,675,884.91 yuan in the previous period, reflecting increased debt repayment[25] - The other comprehensive income attributable to the parent company was -60,664.54 yuan, a significant decrease from 103,574.41 yuan in the previous period[22]

山东胜利股份有限公司 2025 年第三季度报告 证券代码：000407 证券简称：胜利股份 公告编号：2025-030 号 山东胜利股份有限公司 2025 年第三季度报告 重要内容提示： 1.董事会及董事、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 公司是否需追溯调整或重述以前年度会计数据 一、主要财务数据 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。 （一）主要会计数据和财务指标 □是 否 | 项 | 目 | 本报告期 | 本报告期比上年同 期增减（%） | 年初至报告期末 | 年初至报告期末比 上年同期增减 | | | --- | --- | --- | --- | --- | --- | --- | | | | | | | （%） | | | 营业收入（元） | | 883,978,392.01 | | -12.50 | ...

Financial Performance - The company's operating revenue for the third quarter reached ¥126,043,513.19, representing a year-on-year increase of 13.19%[5] - The net profit attributable to shareholders decreased by 49.80% to ¥8,801,174.83 compared to the same period last year[5] - The basic earnings per share fell by 49.94% to ¥0.0393, reflecting a significant decline in profitability[5] - Total operating revenue increased to ¥326,434,245.03, up from ¥264,438,359.09, representing a growth of approximately 23.4% year-over-year[20] - Net profit for the period was ¥40,264,335.32, a decrease of approximately 12.3% compared to ¥45,771,072.06 from the previous period[20] - The company reported a total comprehensive income of ¥40,264,335.32, down from ¥45,771,072.06, reflecting a decrease of approximately 12.3%[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥528,018,326.05, a decrease of 0.68% from the previous year-end[5] - The total current assets amount to 322,593,226.41 CNY, a decrease from 354,893,937.38 CNY in the previous period[16] - The total non-current assets amount to 205,425,099.64 CNY, an increase from 176,734,191.71 CNY in the previous period[16] - The total assets amount to 528,018,326.05 CNY, slightly decreasing from 531,628,129.09 CNY in the previous period[16] - Total liabilities decreased to ¥150,355,218.23 from ¥159,625,675.47, a reduction of approximately 5.8%[20] - The accounts payable amount to 42,252,595.00 CNY, an increase from 39,247,060.25 CNY in the previous period[16] Cash Flow - The cash flow from operating activities showed a drastic decline of 91.87%, amounting to ¥5,525,471.65[5] - Cash generated from operating activities was ¥323,146,165.81, compared to ¥304,867,813.49 in the previous period, indicating an increase of approximately 6.0%[23] - The net cash flow from operating activities was $5,525,471.65, a decrease of 91.9% compared to $67,941,431.41 in the previous period[24] - Total cash inflow from investment activities was $193,768,382.81, down from $380,805,063.64, reflecting a decline of 49.0%[24] - The net cash flow from financing activities was -$34,846,294.29, compared to -$66,251,657.71 in the prior period, indicating an improvement of 47.3%[25] - The total cash and cash equivalents at the end of the period stood at $37,368,732.65, a decrease from $38,431,362.64[25] Shareholder Information - The total number of common shareholders at the end of the reporting period is 12,427[12] - The largest shareholder, Yize Holdings Limited, holds 61.28% of shares, totaling 141,183,980 shares[12] - The second largest shareholder, Chaozhou Nantian Caiyun Investment Co., holds 0.74% of shares, totaling 1,697,920 shares[12] Research and Development - Research and development expenses increased by 49.89% to ¥12,475,169.17, indicating a focus on innovation[9] - Research and development expenses increased to ¥12,475,169.17, up from ¥8,322,798.31, marking a growth of approximately 50.0% year-over-year[20] Other Financial Metrics - The investment income decreased by 51.53% to ¥1,043,280.65, attributed to reduced returns from maturing financial products[9] - The company distributed cash dividends amounting to ¥55,773,468.00, a 150% increase compared to the previous period[10] - There are no significant changes in the top 10 shareholders' participation in margin trading[13] - The company has not reported any preferred shareholders or significant changes in their holdings[14] - The company has not disclosed any new product developments or market expansion strategies in the current report[14]

Financial Performance - The company's revenue for Q3 2025 was ¥164,026,916.18, representing a decrease of 8.45% compared to the same period last year[5] - Net profit attributable to shareholders decreased by 77.55% to ¥15,934,024.56 for Q3 2025, and by 73.53% to ¥41,255,301.57 for the year-to-date[5] - Basic and diluted earnings per share for Q3 2025 were both ¥0.0664, down 77.54% year-on-year[5] - Operating profit for the period was ¥54,145,842.26, down 74.0% from ¥208,805,609.12 in the previous period[14] - Net profit for the current period is $39.39 million, a decrease from $153.09 million in the previous period, representing a decline of approximately 74.3%[15] - The company reported a total comprehensive income of $39.39 million for the current period, down from $153.09 million in the previous period, a decline of approximately 74.3%[15] - The company reported a basic and diluted earnings per share of $0.1719, down from $0.6494 in the previous period, a decrease of about 73.5%[15] Assets and Liabilities - Total assets at the end of Q3 2025 were ¥1,574,864,220.62, a slight increase of 0.10% from the end of the previous year[5] - Total assets amounted to ¥1,574,864,220.62, slightly up from ¥1,573,258,967.71[13] - Total liabilities decreased to ¥297,464,421.62 from ¥311,914,321.32, a reduction of 4.6%[13] - The company’s total equity increased to ¥1,277,399,799.00 from ¥1,261,344,646.39, reflecting a growth of 1.3%[13] Cash Flow - The company reported a net cash flow from operating activities of ¥58,497,447.44, down 27.76% year-to-date[5] - Operating cash flow for the current period is $58.50 million, down from $80.98 million in the previous period, indicating a decrease of about 27.7%[17] - Cash outflow for operating activities totaled $551.39 million, up from $502.76 million in the previous period, indicating an increase of about 9.6%[17] - Total cash inflow from investment activities is $858.51 million, compared to $625.23 million in the previous period, reflecting an increase of approximately 37.3%[17] - Cash flow from financing activities shows a net inflow of $2.10 million, a significant improvement from a net outflow of $196.73 million in the previous period[18] - Total cash and cash equivalents at the end of the period amount to $391.30 million, an increase from $226.07 million at the end of the previous period[18] - Cash and cash equivalents increased to ¥398,508,195.36 from ¥258,849,188.08, representing a growth of 54.0%[12] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 36,667[9] - Major shareholders included Zhang Daili with a 14.93% stake and Zhang Yunlan with a 10.23% stake[9] Investment and Expenses - The company experienced a significant decline in net profit primarily due to changes in investment income from long-term equity investments[8] - Research and development expenses were ¥21,467,073.04, slightly down from ¥23,968,323.34[14] - Non-recurring gains and losses included government subsidies amounting to ¥1,987,288.23 for Q3 2025[6] - Inventory increased to ¥81,918,211.10 from ¥70,780,675.80, an increase of 15.9%[12]

Financial Performance - The company's revenue for Q3 2025 was ¥711,895,157.92, a decrease of 36.92% compared to the same period last year[3] - The net profit attributable to shareholders was -¥29,657,104.16, representing an increase in loss of 22.34% year-on-year[3] - Total operating revenue for the current period was ¥1,824,573,069.46, a decrease of 26.6% compared to ¥2,486,068,703.20 in the previous period[17] - Net profit for the current period was a loss of ¥125,407,640.49, compared to a loss of ¥97,637,952.63 in the previous period, reflecting a worsening of 28.4%[18] - The total comprehensive income attributable to the parent company was -90,876,394.51 CNY, compared to -76,205,033.09 CNY in the previous period, indicating a decline[19] Cash Flow - The net cash flow from operating activities was not reported for Q3 2025, but for the year-to-date, it was ¥17,319,505.90, down 82.53% compared to the previous year[3] - The net cash flow from operating activities decreased by 113.14 million RMB compared to the same period last year[10] - Cash inflow from operating activities totaled 2,896,035,565.88 CNY, a decrease of 20.5% from 3,643,643,381.56 CNY in the previous period[19] - The ending balance of cash and cash equivalents was 211,798,562.05 CNY, down from 279,124,086.13 CNY in the previous period[20] - The net cash flow from financing activities was -138,656,108.04 CNY, slightly worse than -135,172,350.31 CNY in the previous period[20] Assets and Liabilities - Total assets at the end of Q3 2025 were ¥5,773,099,471.38, a decrease of 7.44% from the end of the previous year[3] - The company's total assets decreased to ¥5,773,099,471.38 from ¥6,237,333,496.87, a decline of 7.4%[16] - Current liabilities increased to ¥3,353,066,324.73, up 8.5% from ¥3,090,378,677.10 in the previous period[16] - Non-current liabilities decreased to ¥1,423,824,699.05 from ¥2,000,811,025.78, a reduction of 29%[16] - The company's total equity decreased to ¥996,208,447.60 from ¥1,146,143,793.99, a decline of 13.1%[16] Expenses - Research and development expenses decreased by 67.08% to ¥773.25 million, indicating a reduction in R&D activities[9] - The company reported a significant increase in selling expenses, totaling ¥5,553.38 million, attributed to higher business costs and sales personnel wages[9] - Research and development expenses were ¥7,732,518.67, down 67.1% from ¥23,487,529.38 in the previous period[18] - The company reported a significant increase in sales expenses to ¥55,533,821.10, up 64.5% from ¥33,753,126.59 in the previous period[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 50,374[11] - The top three shareholders hold a combined 25.71% of the shares, with 龙岩城发鑫融投资发展有限公司 and 龙岩金丝商贸有限公司 each holding 8.89%[11] - The company has not reported any changes in the number of preferred shareholders or significant events affecting shareholder structure[13] - There are no indications of related party transactions or concerted actions among the top shareholders[12] Inventory and Receivables - The company reported a significant increase in inventory, which rose by 100.76% to ¥30,198.10 million, primarily due to increased stock of asphalt[7] - Accounts receivable decreased from 983,281,386.36 RMB to 858,083,333.38 RMB, indicating improved collection efficiency[14] - Prepayments increased from 96,903,637.85 RMB to 146,084,002.62 RMB, suggesting potential growth in future sales[14] Other Information - The company did not undergo an audit for the third quarter financial report[21] - The company plans to implement new accounting standards starting from 2025[22]