Financial Performance - The company's operating revenue for Q3 2025 was ¥112,983,302.06, representing a 43.05% increase year-over-year[5] - Net profit attributable to shareholders for Q3 2025 was ¥6,410,595.43, a significant increase of 121.44% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥5,738,960.22, up 180.42% year-over-year[5] - The basic earnings per share for Q3 2025 was ¥0.08, a 100% increase from the previous year[5] - Total revenue for the current period was ¥229,568,342.48, a decrease of 15.6% compared to ¥271,875,214.84 in the previous period[18] - The company reported a net profit total of ¥22,890,608.06, compared to ¥24,599,459.19 in the previous period, indicating a decrease of 6.9%[18] - Net profit for the current period is $19,690,447.35, a decrease of 8.9% from $21,604,474.22 in the previous period[19] - Basic and diluted earnings per share for the current period are both $0.25, down from $0.27 in the previous period[19] - Total comprehensive income for the current period is $19,690,447.35, a decrease from $21,604,474.22 in the previous period[19] Assets and Liabilities - Total assets as of September 30, 2025, were ¥1,315,013,877.86, reflecting a 1.73% increase from the end of the previous year[5] - The company's total equity attributable to shareholders was ¥792,133,775.26, a 1.29% increase from the end of the previous year[5] - Current liabilities totaled ¥428,642,928.91, down from ¥442,958,202.15, a decrease of 3.2%[17] - Non-current assets increased to ¥550,830,219.30 from ¥485,928,881.44, an increase of 13.3%[16] - Total assets rose to ¥1,315,013,877.86 from ¥1,292,674,425.60, reflecting an increase of 1.7%[17] Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥24,645,259.98, down 38.90% compared to the same period last year[5] - Cash flow from operating activities generated a net amount of $24,645,259.98, a decline of 38.8% compared to $40,335,172.45 in the previous period[21] - Cash received from tax refunds was 317,362.02, a 100% decrease compared to the previous period due to last year's withholding of personal income tax on dividends[12] - Cash obtained from loans rose by 341.66% to 102,733,313.52, primarily due to increased bank loans for the construction of the Chuhuan Intelligent Manufacturing Base[12] - Debt repayment cash outflow increased by 2605.33% to 81,000,000.00, mainly for repaying loans related to the Chuhuan Intelligent Manufacturing Base[12] - The ending balance of cash and cash equivalents is $94,636,559.65, down from $204,714,150.42 in the previous period[22] Operational Costs - Total operating costs decreased to ¥212,436,579.26 from ¥245,190,890.46, reflecting a reduction of 13.3%[18] - Operating profit for the current period was ¥21,669,235.63, down from ¥24,746,899.80, representing a decline of 12.5%[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 8,029, with the largest shareholder holding 24.63%[13] - The company repurchased 520,000 shares, accounting for 0.6470% of the total share capital[14] Other Financial Metrics - Financial expenses decreased by 87.99% to -93,430.94, primarily due to a reduction in interest income and an increase in discounting expenses[12] - Credit impairment losses decreased by 41.85% to -8,224,622.41, mainly due to an increase in the reversal of bad debt provisions for accounts receivable compared to the previous period[12] - Asset disposal gains increased by 3758.71% to 473,537.47, attributed to the disposal of rights assets from expired office leases[12] - Other income surged by 11438.65% to 1,453,568.70, primarily from contract compensation received and accounts payable clearance[12] - Investment income increased by 294.92% to 7,983,343.38, mainly from the redemption of financial products[12] - Cash inflow from investment activities totaled $985,283,943.38, an increase from $794,432,223.44 in the previous period[21] - Cash outflow from investment activities was $1,124,209,839.05, up from $934,674,391.34 in the previous period[21] - Net cash flow from financing activities was $27,892,655.22, compared to a net outflow of $2,186,343.51 in the previous period[22] Audit Information - The company has not undergone an audit for the third quarter financial report[23]

Financial Performance - Revenue for Q3 2025 reached ¥292,214,183.99, an increase of 12.15% compared to the same period last year[5] - Net profit attributable to shareholders was ¥53,396,357.99, representing a significant growth of 101.69% year-on-year[5] - Basic earnings per share increased by 125.00% to ¥0.09, while diluted earnings per share also rose by 125.00% to ¥0.09[5] - The net profit attributable to the parent company increased by 52.10% to ¥115,370,442.34 compared to ¥75,854,090.72 in the previous period[11] - Net profit for the current period was ¥115,626,923.86, up 52.1% from ¥76,011,090.45 in the previous period[28] - Earnings per share increased to ¥0.18 from ¥0.12, indicating improved profitability[29] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥3,078,368,398.11, reflecting a 1.15% increase from the end of the previous year[5] - Total liabilities increased to ¥474,870,624.01 from ¥456,943,473.73, indicating a rise in financial obligations[25] - The company's equity attributable to shareholders was ¥2,598,239,062.65, up by 0.65% from the previous year[5] - Total equity attributable to shareholders rose to ¥2,598,239,062.65 from ¥2,581,513,781.02, reflecting a stable equity position[25] Cash Flow - Cash flow from operating activities for the year-to-date was ¥155,427,765.39, an increase of 8.77%[5] - Cash flow from operating activities was ¥893,256,391.59, showing a positive trend in cash generation[31] - The net cash flow from operating activities was $155,427,765.39, an increase of 8.5% compared to $142,898,970.13 in the previous period[32] - Total cash outflow from operating activities was $794,437,419.96, down from $811,670,368.26, showing a decrease of 2.1%[32] - The company’s cash flow from operating activities remained stable with a slight decrease in cash outflows, indicating effective cash management strategies[32] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 49,511[13] - The largest shareholder, Ao Xiaoqiang, holds 57.83% of the shares, totaling 367,660,000 shares[13] - The company repurchased a total of 11,243,157 shares, accounting for 1.77% of the total share capital, with an average price of 5.38 CNY per share[16] - The total amount spent on the share repurchase was 60,512,734.11 CNY, which exceeded the lower limit of the repurchase plan[16] - The company plans to reduce its repurchased shares by up to 6,357,609 shares, representing 1% of the total share capital, within three months starting from August 27, 2025[16] - As of September 30, 2025, the company held 4,885,645 shares from the repurchase account, which is 0.77% of the total share capital[17] Income and Expenses - Total operating revenue for the current period reached ¥888,292,361.18, an increase of 6.4% compared to ¥835,346,354.45 in the previous period[27] - Total operating costs decreased slightly to ¥790,491,868.49 from ¥791,878,496.88, reflecting a cost reduction strategy[27] - The company reported a significant increase in other income to ¥33,270,263.13 from ¥27,407,018.49, contributing positively to overall profitability[28] - Research and development expenses increased to ¥72,222,168.57 from ¥68,941,445.48, highlighting a commitment to innovation[27] Other Financial Metrics - Non-recurring gains and losses for the current period totaled ¥5,046,523.78, down from ¥16,289,842.39 in the previous year[8] - Investment income decreased by 80.10% to ¥2,676,775.95 from ¥13,448,525.77, primarily due to losses from joint ventures and reduced returns from cash management products[11] - The company reported a significant increase in credit impairment losses, rising by 1471.96% to ¥3,276,021.26 due to intensified collection efforts[11] - Deferred income decreased by 84.48% to ¥1,356,248.18, mainly due to the receipt of significant government grants in the previous year[10] - Deferred income tax liabilities rose to ¥660,704.89 from ¥463,280.09, indicating potential future tax obligations[25] Currency and Exchange - The foreign currency translation adjustment showed a dramatic increase of 320.94%, reaching ¥288,913.55 due to exchange rate fluctuations[11] - Other comprehensive income increased by 633.86% to ¥8,032,598.91, attributed to foreign exchange rate changes[11]

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。 深圳顺络电子股份有限公司 2025 年第三季度报告 证券代码：002138 证券简称：顺络电子 公告编号：2025-080 深圳顺络电子股份有限公司 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： 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 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 深圳顺络电子股份有限公司 2025 年第三季度报告 | | 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 | | --- | --- | --- | --- | --- | | | | 期增减 | | 比上年同期增减 | | 营业收入（元） | 1,807,805,874.12 | 20.21% | 5, ...

Financial Performance - The company's operating revenue for Q3 2025 was CNY 1,326,129,823.26, a decrease of 6.82% compared to the same period last year[5]. - Net profit attributable to shareholders increased by 20.34% to CNY 281,113,635.08, while net profit excluding non-recurring gains and losses rose by 37.90% to CNY 213,122,715.10[5]. - The company achieved a cumulative operating revenue of CNY 3,598,463,266.51 for the year-to-date, down 5.69% year-on-year, with a net profit of CNY 527,983,115.87, up 30.56%[9]. - Revenue decreased by 5.69% to ¥3,598,463,266.51, primarily due to a 6.21% decline in sales volume of clinker and cement products[19]. - Net profit for the current period is ¥550,843,626.90, an increase of 46.0% compared to ¥377,482,429.11 in the previous period[30]. - Earnings per share (EPS) for the current period is ¥0.54, up from ¥0.42 in the previous period[30]. - The company reported an operating profit of ¥656,072,411.65, which is a significant increase from ¥477,239,554.09 in the previous period[29]. Production and Sales - The company produced 1,108.62 million tons of clinker and 1,117.08 million tons of cement in the first nine months, with total sales of 1,415.00 million tons, a decline of 6.21% year-on-year[10]. - Total operating costs decreased to ¥3,159,661,639.15, down 9.8% from ¥3,502,090,607.11 in the previous period[29]. Profitability and Margins - The gross profit margin for the company's core business was 29.86%, and the net profit margin was 15.31%, maintaining industry-leading levels[9]. - Investment income rose to ¥115,368,488.44, compared to ¥68,934,795.89 in the previous period, marking a growth of 67.1%[29]. Cash Flow and Liquidity - The company’s cash flow from operating activities for the year-to-date was CNY 755,071,117.83, reflecting a year-on-year increase of 2.34%[5]. - Operating cash flow for the current period is $755,071,117.83, an increase of 2.5% compared to $737,818,666.75 in the previous period[32]. - Cash inflow from investment activities totaled $1,321,180,973.64, up from $997,559,640.53, representing a 32.4% increase[32]. - Cash received from the sale of goods and services was $3,455,897,961.46, a decrease of 8.5% from $3,775,520,537.18[32]. - Cash paid for purchasing goods and services was $2,019,143,525.19, down from $2,528,065,523.19, reflecting a 20.1% decrease[32]. Assets and Liabilities - The company’s total assets at the end of the reporting period were CNY 16,883,339,054.39, a decrease of 3.95% from the end of the previous year[5]. - Total liabilities decreased to ¥7,200,196,223.87 from ¥7,922,785,062.95, reflecting a reduction of 9.1%[28]. - Total equity increased slightly to ¥9,683,142,830.52 from ¥9,655,071,866.27, indicating a growth of 0.3%[28]. - Short-term borrowings increased by 29.15% to ¥2,022,896,549.93, as subsidiaries sought additional working capital loans[18]. Investments and Projects - The company’s investment in equity, particularly in semiconductor materials, contributed approximately CNY 170 million to net profit, accounting for 31% of total net profit[14]. - The company’s new energy projects generated 24.82 million kWh of electricity and saved approximately 7,463 tons of standard coal, reducing CO2 emissions by about 20,000 tons[13]. Shareholder Information - The number of common shareholders at the end of the reporting period was 41,667[23]. - The largest shareholder, Zhejiang Shangfeng Holding Group Co., Ltd., holds 31.15% of shares, with 93,100,000 shares pledged[23].

Revenue and Profitability - The company's revenue for Q3 2025 was ¥78,590,370.09, representing a 7.32% increase year-over-year[4] - Net profit attributable to shareholders for the quarter was ¥221,546.67, a significant increase of 101.80% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥24,386.38, up 100.19% year-over-year[4] - Basic earnings per share for the quarter were ¥0.0004, reflecting a 101.90% increase compared to the same quarter last year[4] - Total operating revenue for the current period reached ¥249,818,180.79, an increase of 10.5% compared to ¥225,424,130.42 in the previous period[15] - Net profit for the current period was ¥1,610,522.81, a significant recovery from a net loss of ¥20,595,584.31 in the previous period[16] - The company reported a comprehensive income total of ¥1,555,893.43, compared to a comprehensive loss of ¥20,651,184.17 in the prior period[17] - The company achieved a basic earnings per share of ¥0.002, recovering from a loss per share of ¥0.037 in the previous period[17] Cash Flow and Financial Position - Cash flow from operating activities for the year-to-date reached ¥97,766,648.06, a remarkable increase of 1,245.40%[4] - Cash flow from operating activities generated ¥97,766,648.06, a substantial increase from ¥7,266,720.71 in the previous period[18] - The company maintains a strong cash position with cash and cash equivalents at 224,649,162.75 CNY, down from 296,327,351.42 CNY[12] - Cash and cash equivalents at the end of the period decreased to $224.59 million from $265.18 million, reflecting a net decrease of $71.68 million[19] - Cash flow from financing activities showed a net outflow of $137.68 million, slightly higher than the previous period's outflow of $135.20 million[19] - The company reported a cash outflow of $100 million for debt repayment and $17.14 million for dividend distribution during the financing activities[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,012,467,615.45, a decrease of 3.24% from the end of the previous year[4] - Total current assets decreased from 358,785,166.47 CNY at the beginning of the period to 289,531,032.12 CNY at the end, a decline of approximately 19.3%[12] - Accounts receivable decreased from 31,124,199.37 CNY to 25,748,675.92 CNY, a reduction of about 17.5%[12] - Total liabilities increased from 250,207,301.83 CNY to 262,747,943.79 CNY, an increase of about 5.0%[13] - Long-term borrowings decreased from 540,000,000.00 CNY to 440,000,000.00 CNY, a reduction of approximately 18.5%[13] - The total liabilities decreased to ¥845,233,495.98 from ¥947,239,236.44, indicating a reduction of approximately 10.8%[14] Shareholder Information - Total number of common shareholders at the end of the reporting period is 27,617[10] - The largest shareholder, Ba Da Chu Holdings Group Co., Ltd., holds 28.84% of shares, totaling 172,519,294 shares[10] - The company has no preferred shareholders or significant changes in the top 10 shareholders' financing activities[11] Other Income and Expenses - Other income increased by ¥41,141.14, a growth of 37.26%, mainly due to higher government subsidies received[8] - Investment income decreased by ¥1,016,956.02, a decline of 51.92%, attributed to reduced purchases of bank wealth management products[8] - The company experienced a 113.57% decrease in credit impairment losses, amounting to a reduction of ¥1,930,515.41, primarily due to the recovery of education service fees[8] - Research and development expenses decreased to ¥744,528.39 from ¥1,458,625.61, a reduction of 48.9%[15] - The company recorded a credit impairment loss of ¥230,741.85, a significant improvement compared to a loss of ¥1,699,773.56 in the previous period[16] Investment Performance - Net cash flow from investment activities was -$31.63 million, compared to -$2.39 million in the previous period, indicating a decline in investment performance[19] - Total cash inflow from investment activities amounted to $852.14 million, while cash outflow was $883.77 million, resulting in a net cash outflow of $31.63 million[19] Audit and Reliability - The third quarter financial report was not audited, which may affect the reliability of the reported figures[20]

中基健康产业股份有限公司 2025 年第三季度报告 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.第三季度报告是否经过审计。 □是否 证券代码：000972 证券简称：*ST 中基 公告编号：2025-091 号 2025 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 | 年初至报告期末 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 同期增减 | | 比上年同期增减 | | 营业收入（元） | 109,239,299.24 | 107.32% | 354,172,619.51 | 18.92% | | 归属于上市公司股东的净利润（元） | ...

Financial Performance - The company's revenue for Q3 2025 was ¥311,675,717.37, representing a decrease of 11.29% compared to the same period last year[5] - Net profit attributable to shareholders was ¥16,911,078.08, an increase of 382.87% year-on-year[5] - Basic and diluted earnings per share were both ¥0.0228, up 381.48% compared to the previous year[5] - Total revenue for the period reached ¥970,781,403.49, an increase of 7.2% compared to ¥905,383,145.36 in the previous period[17] - The net profit for the current period is CNY 2,141,642.03, a significant recovery from a net loss of CNY 70,452,269.78 in the previous period[18] - Operating profit increased to CNY 21,477,776.72 compared to a loss of CNY 58,410,477.91 in the prior year[18] - The company reported a total comprehensive income of CNY 24,542,812.93, compared to a loss of CNY 68,583,999.56 in the previous period[19] - Basic and diluted earnings per share improved to CNY 0.0106 from a loss of CNY 0.0861 in the prior year[19] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date was ¥27,396,312.42, reflecting a significant increase of 134.36%[5] - Cash and cash equivalents at the end of the period were ¥509,330,823.34, compared to ¥499,046,144.96 at the beginning of the period, showing a growth of 2.6%[13] - The cash flow from operating activities showed a net inflow of CNY 27,396,312.42, a recovery from a net outflow of CNY 79,743,126.04 last year[21] - Cash and cash equivalents at the end of the period increased to CNY 449,698,757.27 from CNY 300,582,053.84[21] - The financing activities resulted in a net cash outflow of CNY 37,660,417.38, an improvement from a net outflow of CNY 598,679,521.52 last year[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,013,080,892.70, a slight increase of 0.03% from the end of the previous year[5] - Total assets amounted to ¥3,013,080,892.70, slightly up from ¥3,012,244,190.94, indicating a marginal increase[15] - Total liabilities decreased to ¥1,277,606,498.77 from ¥1,317,784,744.62, a reduction of 3.0%[15] - Shareholders' equity totaled ¥1,735,474,393.93, compared to ¥1,694,459,446.32, reflecting an increase of 2.4%[15] - Long-term borrowings increased to ¥177,000,000.00 from ¥152,500,000.00, an increase of 16.0%[15] Operational Metrics - Total operating costs decreased to ¥981,068,649.47 from ¥990,233,469.92, reflecting a reduction of 0.1%[17] - Operating costs specifically amounted to ¥560,445,417.46, up from ¥546,133,315.20, indicating an increase of 2.6%[17] - Accounts receivable decreased to ¥924,812,747.84 from ¥964,284,048.60, a decline of 4.1%[14] - Inventory increased to ¥414,769,297.42 from ¥362,489,124.65, representing a rise of 14.4%[14] Investment and Development - The company reported a significant increase in development expenditures, rising by ¥45,544,900, or 85.50%, due to increased R&D investments[9] - Research and development expenses decreased to CNY 58,266,459.42 from CNY 80,773,309.68, indicating a focus on cost management[18] - The company recorded a substantial increase in asset disposal gains of ¥14,745,400, or 75121.06%, primarily from the disposal of a non-patented technology[9] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 65,195[11] - The largest shareholder, Guo Xinping, holds 22.21% of the shares, with a total of 164,448,258 shares, which are currently frozen[11]

证券代码：002893 证券简称：京能热力 公告编号：2025-056 北京京能热力股份有限公司 北京京能热力股份有限公司 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 1 北京京能热力股份有限公司 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） | 57,406,259.23 | 706.04% | 831, ...

哈森商贸（中国）股份有限公司 2025 年第三季度报告 证券代码：603958 证券简称：哈森股份 哈森商贸（中国）股份有限公司 2025 年第三季度报告 | | | 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 | 358,430,846.35 | 140.71 | 1,057,794,109.49 | 86.36 | | 利润总额 | -11,410,405.55 | 不适用 | 698,504.04 | 不适用 | | 归属于上市公司股东的 净利润 | -16,763,996.20 | 不适用 | -18,474,375.37 | 不适用 | | 归属于上市公司股东的 扣除非经常性损益的净 | -17,750,734.66 | 不适用 | -20,720,548.92 | 不适用 | | 利润 | | | | | 1 / 12 哈森商贸（中国）股份有限公司 2025 ...

Financial Performance - The company's revenue for Q3 2025 was ¥223,337,908.05, representing a 4.82% increase compared to the same period last year[4]. - Net profit attributable to shareholders for Q3 2025 was ¥18,512,045.75, a significant increase of 1,509.27% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥12,202,930.58, up 71.37% from the previous year[4]. - The basic earnings per share for Q3 2025 was ¥0.0218, a 1,553.33% increase year-on-year[4]. - Total operating revenue decreased to ¥587,912,018.71 from ¥628,417,928.47, a decline of approximately 6.5% year-over-year[20]. - Net profit for the period was ¥40,983,598.62, down from ¥219,484,911.07, representing a significant decline of approximately 81.3% year-over-year[21]. - Earnings per share (EPS) decreased to ¥0.0496 from ¥0.2592, a drop of about 80.8% year-over-year[22]. - The total comprehensive income for the period was ¥40,983,598.62, significantly lower than ¥219,484,911.07 from the previous year, reflecting a decline of approximately 81.3%[22]. Assets and Liabilities - The total assets at the end of Q3 2025 amounted to ¥950,520,329.30, reflecting a 2.17% increase from the end of the previous year[4]. - The equity attributable to shareholders increased by 6.77% to ¥665,438,069.80 compared to the end of the previous year[4]. - The company's total liabilities decreased to ¥281,350,975.95 from ¥304,811,014.29, a reduction of about 7.7%[20]. - The total liabilities include short-term borrowings of 5,004,861.11 yuan, which remained relatively stable compared to the previous period[18]. - Accounts receivable increased significantly from 81,502,137.67 yuan to 196,459,397.64 yuan, representing an increase of about 141.1%[17]. - The company’s cash and cash equivalents decreased from 293,750,964.81 yuan to 184,271,889.89 yuan, a decline of approximately 37.3%[17]. Cash Flow - Cash flow from operating activities for the year-to-date increased by 108.53% to ¥1,753,327.77[4]. - Cash inflow from operating activities totaled ¥401,340,091.01, compared to ¥446,332,461.98 in the previous period, indicating a decrease of approximately 10.1%[23]. - Net cash flow from operating activities was 1,753,327.77, a significant improvement from -20,559,918.93 in the previous period[24]. - Total cash outflow from operating activities amounted to 399,586,763.24, compared to 466,892,380.91 previously[24]. - Cash inflow from investment activities was 800,539,832.74, up from 631,646,092.56[24]. - Net cash flow from investment activities was -107,976,058.42, an improvement from -210,369,529.17[24]. - Cash inflow from financing activities totaled 2,682,000.00, down from 3,458,000.00[25]. - Net cash flow from financing activities was -319,426.55, compared to 405,930.63 previously[25]. - The ending balance of cash and cash equivalents was 173,318,040.35, down from 199,878,940.68[25]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 25,737[12]. - The largest shareholder, Jiang Zugong, holds 10.09% of shares, totaling 85,836,363 shares[12]. Legal and Operational Matters - The company is currently in the process of executing a settlement agreement with Shizuishan Bank, which is being carried out normally[13]. - The company is involved in a legal dispute regarding securities false statements, with no significant changes reported in the ongoing case[14]. - The company has provided guarantees for Suzhou Qisi Miaoxiang Co., Ltd., with the execution agreement being followed as planned[13]. Expenses - The company reported a 66.38% increase in financial expenses for the period from January to September 2025, primarily due to reduced interest from structured deposits[8]. - Research and development expenses were ¥23,619,747.92, down from ¥28,092,340.61, a decrease of about 16.5% year-over-year[21]. - The company reported a financial expense of -¥1,142,971.28, an improvement compared to -¥3,399,991.31 in the previous period[21]. Inventory and Costs - The company has a significant increase in inventory, which decreased from 94,567,711.66 yuan to 90,156,125.46 yuan, a decline of about 4.8%[17]. - Total operating costs reduced to ¥561,130,471.17 from ¥613,369,636.77, reflecting a decrease of about 8.5% year-over-year[20]. Miscellaneous - The weighted average return on net assets was 2.82%, down 3.02% compared to the previous year[4]. - The third quarter financial report was not audited[26].