圣湘生物科技股份有限公司 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、准确性和完整性依法承担法律责任。 重要内容提示： 公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假记载、误 导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 圣湘生物科技股份有限公司 2025 年第三季度报告 证券代码：688289 证券简称：圣湘生物 单位:元 币种:人民币 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 | 375,518,504.36 | 18 ...

Financial Performance - The company's operating revenue for Q3 2025 reached ¥120,855,395, representing a year-on-year increase of 20.44%[2] - Total profit for the period was ¥27,998,156, reflecting a growth of 20.62% compared to the same quarter last year[2] - Net profit attributable to shareholders was ¥23,275,595, an increase of 13.47% year-on-year[2] - Total operating revenue for the first three quarters of 2025 reached ¥334,005,290.20, a 22.3% increase from ¥273,117,535.22 in the same period of 2024[17] - Net profit for the first three quarters of 2025 was ¥59,844,451.38, representing a 4.7% increase compared to ¥57,165,321.63 in 2024[19] - The company reported a total comprehensive income of ¥60,097,797.22 for the first three quarters of 2025, compared to ¥57,165,321.63 in 2024[19] Research and Development - Research and development (R&D) expenses totaled ¥9,125,880, marking a 32.93% increase in the current period[3] - R&D expenses accounted for 7.55% of operating revenue, up by 0.71 percentage points from the previous year[3] - Research and development expenses for the first three quarters of 2025 totaled ¥25,982,168.13, compared to ¥18,027,558.98 in 2024, indicating a significant investment in innovation[18] Assets and Liabilities - The company's total assets at the end of the period were ¥1,294,056,834, a 4.14% increase from the end of the previous year[3] - As of September 30, 2025, the company's total assets amounted to CNY 1,294,056,834.48, an increase from CNY 1,242,601,122.09 on December 31, 2024, reflecting a growth of approximately 4.16%[13] - Total current liabilities increased to CNY 100,351,100.89 from CNY 86,553,979.42, reflecting an increase of approximately 16%[15] - Non-current liabilities decreased to CNY 17,583,240.31 from CNY 34,240,146.78, indicating a reduction of about 48.7%[15] - Total liabilities amounted to ¥117,934,341.20, a slight decrease from ¥120,794,126.20 in the previous year[16] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥34,474,267, down 55.39% compared to the same period last year[2][6] - Cash flow from operating activities generated a net amount of ¥34,474,267.47, a decrease from ¥77,280,382.58 in the same period of 2024[22] - Cash inflow from investment activities totaled approximately $2.02 billion, an increase from $1.29 billion year-over-year[23] - Cash outflow for investment activities was about $2.02 billion, compared to $1.28 billion in the previous year[23] - Net cash flow from investment activities was $1.85 million, down from $8.79 million year-over-year[23] - Cash inflow from financing activities amounted to $14.25 million, with $10.5 million from minority shareholders[23] - Cash outflow for financing activities reached $26.23 million, a decrease from $69.56 million in the previous year[23] - Net cash flow from financing activities was -$11.97 million, compared to -$69.56 million year-over-year[23] - The net increase in cash and cash equivalents was approximately $24.76 million, up from $16.51 million[23] - The ending balance of cash and cash equivalents was $201.33 million, compared to $256.65 million in the previous year[23] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 5,237[9] - The top shareholder, Tiancheng Chemical Co., Ltd., holds 20,866,346 shares, representing 16.73% of the total shares[9] - There were no significant changes in the shareholding structure among the top ten shareholders, indicating stability in ownership[10] Equity Position - The company's total equity position improved, although specific figures were not provided in the extracted data[12] - Total equity attributable to shareholders increased to ¥1,165,787,197.89 from ¥1,121,806,995.89, reflecting a growth of 3.9%[16] - The company has maintained a strong capital reserve of ¥773,116,527.14, although it decreased from ¥821,137,240.88 year-over-year[16] Strategic Focus - The company is focusing on expanding its market presence and enhancing product development, although specific strategies were not detailed in the extracted data[12]

江西沃格光电集团股份有限公司 2025 年第三季度报告 证券代码：603773 证券简称：沃格光电 江西沃格光电集团股份有限公司 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： 公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假记载、误导 性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息的 真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 1 / 12 单位：元 币种：人民币 项目 本报告期 本报告期比 上年同期增 减变动幅度 (%) 年初至报告期末 年初至报告期 末比上年同期 增减变动幅度 (%) 营业收入 710,097,560.69 18.21 1,900,084,353.76 15.66 利润总额 1,758,532.99 128.86 -33,849,756.45 -101.03 归属于上市公司股东的净 利润 ...

Financial Performance - The company's operating revenue for the third quarter was ¥100,817,169.08, a decrease of 53.22% compared to the same period last year[4] - The total profit for the third quarter was -¥70,934,086.28, down 69.99% year-on-year[4] - The net profit attributable to shareholders was -¥63,299,876.38, reflecting a decline of 75.45% compared to the previous year[4] - The basic earnings per share for the third quarter was -¥0.13, a decrease of 61.38% year-on-year[5] - The company reported a net loss of CNY 806,474,181.51 for the first three quarters of 2025, compared to a net loss of CNY 691,075,989.19 in the same period of 2024[18] - The net profit attributable to the parent company for the first three quarters of 2025 was a loss of CNY 115,398,192.32, compared to a loss of CNY 170,233,912.02 in the same period of 2024, indicating an improvement of about 32%[21] - The total comprehensive income for the first three quarters of 2025 was a loss of CNY 118,981,053.70, compared to a loss of CNY 179,354,337.01 in the same period of 2024, reflecting an improvement of approximately 34%[21] - The company reported a basic and diluted earnings per share of CNY -0.24 for the first three quarters of 2025, an improvement from CNY -0.35 in the same period of 2024[21] Cash Flow and Liquidity - The cash flow from operating activities showed a net outflow of -¥47,978,101.81, which is a 49.64% increase in outflow compared to the beginning of the year[5] - The net cash flow from operating activities for the first three quarters of 2025 was a negative CNY 47,978,101.81, compared to a negative CNY 95,270,635.83 in the same period of 2024, showing a reduction in cash outflow by approximately 50%[25] - The company ended the first three quarters of 2025 with cash and cash equivalents of CNY 69,737,341.92, compared to CNY 40,970,566.87 at the end of the same period in 2024, indicating an increase in liquidity[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,490,212,238.49, down 11.62% from the end of the previous year[5] - Current assets as of September 30, 2025, totaled CNY 1,872,752,649.95, down from CNY 2,155,963,222.29 at the end of 2024, representing a decline of 13.1%[16] - The company's total assets as of September 30, 2025, were CNY 2,490,212,238.49, down from CNY 2,817,617,437.15, indicating a decrease of 11.6%[17] - Total liabilities decreased to CNY 2,444,338,107.00 from CNY 2,659,683,533.55, a decline of 8.1%[18] - The equity attributable to shareholders decreased by 82.93% to ¥23,753,983.84 compared to the end of the previous year[5] - The company's equity attributable to shareholders decreased to CNY 23,753,983.84 from CNY 139,177,676.16, a significant drop of 83.0%[18] Operating Costs and Expenses - Total operating costs for the first three quarters of 2025 were CNY 651,997,271.24, a decrease from CNY 929,804,061.97 in the same period of 2024, representing a reduction of approximately 30%[20] - The company reported a significant increase in asset impairment losses, up 163.85% year-to-date, primarily due to the recovery of old accounts[10] - The company experienced a 3125.26% increase in non-operating expenses year-to-date, mainly due to litigation compensation related to the Hongma project[10] - The company’s research and development expenses for the first three quarters of 2025 were CNY 43,447,093.69, down from CNY 68,241,022.90 in the same period of 2024, a decrease of about 36%[20] Revenue Trends - Total revenue for the first three quarters of 2025 was CNY 615,631,524.78, a decrease of 20.7% compared to CNY 776,542,020.18 in the same period of 2024[19] - The company’s total revenue from sales of goods and services for the first three quarters of 2025 was CNY 219,577,286.95, a significant decline from CNY 931,567,276.98 in the same period of 2024, representing a decrease of approximately 76%[25] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 48,949[12] - Short-term borrowings slightly increased to CNY 568,190,398.97 from CNY 566,094,394.59, a marginal rise of 0.4%[18]

Financial Performance - The company's operating revenue for Q3 2025 was CNY 6,782,516,278.80, a decrease of 25.81% compared to CNY 9,142,604,571.67 in the same period last year[5] - The total profit for Q3 2025 was CNY 418,288,600.33, down 34.65% from CNY 640,382,858.76 year-on-year[5] - Net profit attributable to shareholders for Q3 2025 was CNY 158,644,652.24, representing a significant decline of 71.01% from CNY 547,516,789.96 in the previous year[5] - The basic earnings per share for Q3 2025 was CNY 0.0244, a decrease of 70.71% compared to CNY 0.0834 in the same period last year[7] - In the first three quarters, the company achieved operating revenue of 22.53 billion RMB, a year-on-year decrease of 14.63%[23] - The net profit attributable to shareholders was 1.012 billion RMB, down 49.03% year-on-year[23] - Net profit for the first three quarters of 2025 was CNY 902,242,771.62, a decline of 52.4% compared to CNY 1,895,268,593.85 in 2024[70] - Comprehensive income for the first three quarters of 2025 was CNY 843,850,773.99, down from CNY 1,879,673,704.84 in 2024, a decrease of 55.8%[72] Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 52,690,366,599.46, reflecting a decrease of 7.47% from the previous year[7] - The company's current assets totaled approximately CNY 9.64 billion, down from CNY 12.35 billion at the end of 2024[60] - Total liabilities decreased to CNY 29,918,029,378.65 in 2025 from CNY 30,795,147,587.66 in 2024, reflecting a reduction of 2.8%[66] - Total equity attributable to shareholders decreased to CNY 23,823,330,202.55 in 2025 from CNY 26,919,228,724.49 in 2024, a decline of 11.0%[66] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 4,314,762,961.33, an increase of 6.14% from CNY 4,066,844,476.52[7] - The net cash flow from operating activities was CNY 4,314,762,961.33, an increase from CNY 4,064,975,159.87 in the previous period, reflecting a growth of approximately 6.1%[77] - Cash inflow from investment activities totaled CNY 792,854,725.25, down from CNY 1,084,098,746.89, indicating a decrease of about 26.9%[79] - The net cash flow from financing activities was -CNY 6,552,474,066.78, worsening from -CNY 4,917,359,195.21, representing a decline of approximately 33.2%[79] - Total cash and cash equivalents at the end of the period stood at CNY 1,521,927,247.33, down from CNY 2,501,865,667.14, a decrease of about 39.2%[79] Production and Sales - LNG production in Q3 was 121.09 million cubic meters (8.65 million tons), a year-on-year increase of 2.03%[30] - LNG sales in Q3 were 480.11 million cubic meters (331,100 tons), a year-on-year decrease of 44.49%[32] - In Q3 2025, the company achieved raw coal production of 11.81 million tons, a year-on-year decrease of 0.63%, while coal sales reached 12.38 million tons, down 3.99% year-on-year[38] - For the first three quarters of 2025, raw coal production increased by 78.64% to 38.68 million tons, and coal sales rose by 39.92% to 40.03 million tons[38] - The company’s coal chemical product sales in Q3 were 422,300 tons, a year-on-year decrease of 12.23%, while total sales for the first three quarters were 1,575,100 tons, down 9.66% year-on-year[49] Prices and Costs - The average price of domestic LNG in Q3 was 4,085.53 RMB/ton, a decrease of 6.57% quarter-on-quarter and 15.15% year-on-year[27] - The average price of 5000 kcal port coal in Q3 was 599.48 RMB/ton, a quarter-on-quarter increase of 6.77% but a year-on-year decrease of 20.32%[38] - The average price of Brent crude oil in Q3 was $68.16/barrel, down 13.52% year-on-year, while WTI crude oil averaged $64.96/barrel, down 13.78% year-on-year[40] - The average price of coal tar in Q3 was 2,955.89 RMB/ton, down 10.6% year-on-year, while the average price of methanol futures was 2,390.87 RMB/ton, down 3.18% year-on-year[40] Shareholder Information - The company’s major shareholder, Xinjiang Guanghui Industry Investment Group, holds 1.303 billion shares, accounting for 20.39% of total shares[19] - As of the report date, 914.94 million shares held by the major shareholder were pledged, representing 70.21% of their holdings and 14.31% of total shares[19] Strategic Initiatives - The company is focusing on "cost reduction and efficiency enhancement" as part of its management goals[21] - The company is advancing key engineering projects and enhancing management processes to improve project construction quality and efficiency[52] - The company is actively developing the Ma Lang coal mine and the Zaisan oil and gas project in Kazakhstan, with significant progress in obtaining necessary approvals and permits[53] - The company has completed the design work for two new wells (S-311 and S-312) aimed at increasing production and confirming reserves, with S-312 currently drilled to a depth of 3,910 meters[54] - The company has made significant progress on the 15 million tons/year coal quality utilization demonstration project, with 93% of the foundational design work completed[56] - The company has completed the project filing for the 40 million tons/year Naoliu Highway expansion project, with 207.6 km of asphalt paving expected to be completed by October 2025[57] - The company has constructed two methanol refueling stations in the Naomao Lake area, which are ready to open pending operational approvals[58] Research and Development - Research and development expenses for the first three quarters of 2025 were CNY 188,607,659.37, slightly down from CNY 192,564,029.78 in 2024[70]

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。 气派科技股份有限公司 2025 年第三季度报告 证券代码：688216 证券简称：气派科技 气派科技股份有限公司 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、准确性和完整性依法承担法律责任。 重要内容提示： 公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假记载、误 导性陈述或重大遗漏，并承担个别和连带的法律责任。 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 | 204,643,045.36 | 12.23 | 530,549,52 ...

游族网络股份有限公司 2025 年第三季度报告 游族网络股份有限公司 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 证券代码：002174 证券简称：游族网络 公告编号：2025-074 1 游族网络股份有限公司 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） | 330,709,234.23 | 11.99% | 1,018,755, ...

Financial Performance - Q3 2025 revenue was CNY 426.46 million, a decrease of 10.12% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 67.03 million, a significant increase of 783.66% year-on-year[5] - Basic and diluted earnings per share were CNY 0.0037, an increase of 825.00% year-on-year[5] - Total operating revenue for the current period was ¥1,208,993,590.32, a decrease of 15.4% compared to ¥1,428,824,224.48 in the previous period[33] - The net profit for the current period is 95,760,607.32, a decrease of 65.7% compared to 279,288,079.97 in the previous period[34] - The operating profit for the current period is 136,168,858.43, down from 337,405,986.88, reflecting a decline of 59.6%[34] - Total comprehensive income for the current period is 329,593,602.87, compared to 283,288,438.06 in the previous period, indicating an increase of 16.4%[35] Cash Flow and Liquidity - The net cash flow from operating activities was CNY -824.35 million, representing an 81.41% decline compared to the previous year[5] - Cash and cash equivalents decreased by 52.36% to CNY 647.61 million due to payments for acquisitions and debt settlements[10] - Cash flow from operating activities shows a net outflow of 824,353,354.53, worsening from a net outflow of 454,406,541.19 in the previous period[37] - Cash and cash equivalents at the end of the period stand at 538,166,725.54, down from 2,107,964,155.32 at the end of the previous period[37] - The company received cash inflows from financing activities totaling 2,351,785,372.24, a decrease of 63.7% compared to 6,464,213,320.04 in the previous period[37] Assets and Liabilities - Total assets at the end of the reporting period were CNY 34.92 billion, a decrease of 3.36% from the previous year[5] - Total liabilities decreased to ¥17,621,721,518.45 from ¥18,414,029,780.53, a reduction of 4.3%[31] - Total cash inflow from operating activities is 4,160,758,088.90, down from 6,427,144,381.35 in the previous period, a decline of 35.5%[36] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 380,596[19] - As of the end of the reporting period, Zhonghe Agricultural Credit and its concerted actions hold a total of 4,450,348,107 shares, accounting for 24.64% of the total shares[4] - HNA Commercial Holdings holds 318,675,668 shares, of which 310,468,878 shares have waived voting rights and other management-related rights[22] - HNA Commercial Holdings and its concerted actions hold a total of 2,585,731,549 shares, accounting for 14.32% of the total shares as of the end of the reporting period[23] Strategic Initiatives - The company completed the acquisition of 51% equity in Beijing New Cooperation Commercial Development Co., Ltd., impacting long-term equity investments[12] - The company signed an investment agreement with multiple financial investors, including New Cooperation Group and others, on December 30, 2024[3] - The company is undergoing a significant asset restructuring involving HNA Commercial Holdings and several subsidiaries[2] - New product launches are planned for Q4 2025, including two innovative logistics solutions aimed at enhancing operational efficiency[26] - The company is expanding its market presence by entering three new provinces in China, targeting a 25% increase in market share by the end of 2025[27] - A strategic acquisition of a regional logistics firm was completed, expected to contribute an additional 200 million RMB in annual revenue[26] - The company has initiated a new technology development program focused on AI-driven supply chain management, with an investment of 50 million RMB[27] Operational Efficiency - Sales expenses decreased by 38.22% to approximately ¥94.62 million, attributed to cost reduction and efficiency improvements[15] - Management expenses decreased by 36.63% to approximately ¥230.44 million, due to organizational efficiency optimization[15] - Financial expenses decreased by 38.29% to approximately ¥253.53 million, mainly from increased exchange gains and reduced borrowing costs[16] - The company reported a decrease in operational costs by 5% due to improved efficiency measures implemented in Q3 2025[28] Government Support - The company recognized government subsidies amounting to CNY 79.62 million during the reporting period[7] - Other income increased by 42.93% to approximately ¥245.53 million, primarily due to increased government subsidies[16] Future Outlook - The company provided guidance for the second half of 2025, expecting revenue to grow by an additional 10% compared to the first half[27] - The company plans to hold its annual shareholder meeting in December 2025 to discuss future strategies and performance updates[26] - A financial risk assessment report was released, indicating a stable outlook with a low risk rating for the upcoming fiscal year[27]

湖南友谊阿波罗商业股份有限公司 2025 年第三季度报告 证券代码：002277 证券简称：友阿股份 公告编号：2025-053 湖南友谊阿波罗商业股份有限公司 2025 年第三季度报告 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 湖南友谊阿波罗商业股份有限公司 2025 年第三季度报告 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。 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。 （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 | | | | 本报告期比上年同 | | 年初至报告期 | | --- | --- | --- | --- | --- | --- | | | | 本报告期 | 期增减 | 年初至报告期末 | 末比上年同期 | | | | | | | 增减 | | ...

Financial Performance - The company's operating revenue for the third quarter reached CNY 6,619,031,967, representing an increase of 81.28% compared to the same period last year[6]. - The net profit attributable to shareholders decreased by 18.61% to CNY 173,062,499, while the net profit after deducting non-recurring gains and losses fell by 22.69% to CNY 166,997,277[6]. - The company reported a 68.97% increase in operating revenue year-to-date, totaling CNY 18,345,601,754[10]. - Total operating revenue for the current period reached ¥18,345,601,754, a significant increase from ¥10,857,143,346 in the previous period, representing a growth of approximately 69.1%[22]. - Net profit for the current period was ¥1,104,990,175, compared to ¥754,747,846 in the previous period, marking an increase of about 46.3%[22]. - Basic earnings per share for the current period were ¥0.42, compared to ¥0.30 in the previous period, representing a growth of 40.0%[23]. Cash Flow and Investments - The net cash flow from operating activities increased significantly by 150.61% to CNY 750,454,443[6]. - Cash flow from operating activities generated a net amount of ¥1,658,302,001, a decrease from ¥1,853,504,389 in the previous period[25]. - The company incurred a net cash outflow from investing activities of CNY 4,827,000,000 year-to-date, significantly higher than the previous year's outflow of CNY 157,000,000[13]. - The company reported a net cash outflow from investing activities of ¥4,827,063,519, compared to an outflow of ¥156,692,315 in the previous period[26]. Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 31,548,329,812, a 74.37% increase from the beginning of the year[10]. - The total assets of the company reached CNY 31,548,329,812 as of September 30, 2025, compared to CNY 18,093,243,157 at the beginning of the period, reflecting a growth of approximately 74.5%[19]. - Current assets increased to CNY 13,776,370,945 from CNY 8,641,394,925, marking a rise of about 59.8%[19]. - The company's total liabilities increased by 137.11% to CNY 20,717,000,000, largely due to new acquisition loans[10]. - The total liabilities reached CNY 14,639,746,659, up from CNY 7,745,204,968, indicating an increase of about 89.5%[20]. - The company reported a total debt of ¥20,717,487,448, up from ¥8,737,582,910, indicating a growth of approximately 137.0%[21]. - The total liabilities increased to ¥20,717,487,448, with non-current liabilities totaling ¥6,077,740,789, up from ¥992,377,942[21]. Investments and Acquisitions - Investment income surged by 260.10% year-to-date, reaching CNY 544,000,000, primarily due to gains from the acquisition of subsidiaries[13]. - The company confirmed the acquisition of China National Packaging Holdings and Xingfan Co., which contributed to the increase in total assets and investment income[9]. Research and Development - The company incurred research and development expenses of ¥121,171,784, which is a significant increase from ¥38,817,912 in the previous period, indicating a growth of approximately 211.0%[22]. Asset Composition - The company's non-current assets totaled CNY 17,771,958,867, compared to CNY 9,451,848,232 at the beginning of the period, showing a growth of approximately 88.5%[19]. - The company reported a significant increase in fixed assets, which rose to CNY 11,593,732,377 from CNY 5,130,962,309, representing an increase of around 126.5%[19]. - Accounts receivable surged to CNY 6,967,239,456 from CNY 2,750,072,484, representing a significant increase of around 153.3%[19]. - Inventory levels rose to CNY 2,886,114,631 from CNY 1,617,623,179, indicating an increase of about 78.5%[20]. - Short-term borrowings increased to CNY 6,162,930,999 from CNY 3,069,105,127, reflecting a growth of approximately 101.5%[20]. Financing Activities - The company plans to issue exchangeable bonds to professional institutional investors, as approved in the board meetings held on August 8 and August 28, 2025[17].