新坐标(603040) - 2025 Q3 - 季度财报
2025-10-27 09:05
Financial Performance - The company's operating revenue for Q3 2025 reached ¥203,181,670.07, representing a year-on-year increase of 20.61%[3] - The total profit for the period was ¥77,840,673.54, reflecting a growth of 26.26% compared to the same period last year[3] - The net profit attributable to shareholders was ¥67,425,650.98, marking a significant increase of 33.82% year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥64,017,306.05, up by 38.70% from the previous year[3] - Total operating revenue for the third quarter of 2025 reached ¥593.21 million, a 19.4% increase from ¥496.63 million in the same period of 2024[21] - Net profit attributable to shareholders of the parent company was ¥209.27 million, up 29.4% from ¥161.71 million year-over-year[23] - Operating profit increased to ¥244.60 million, representing a 28.3% rise compared to ¥190.73 million in the previous year[21] - Total comprehensive income for the period was ¥237.14 million, up 46.9% from ¥161.46 million year-over-year[23] Assets and Equity - The total assets at the end of the reporting period amounted to ¥1,736,618,971.45, an increase of 7.19% compared to the end of the previous year[5] - The equity attributable to shareholders reached ¥1,454,779,410.13, which is a 7.55% increase from the previous year-end[5] - As of September 30, 2025, the total assets of Hangzhou New Coordinate Technology Co., Ltd. amounted to RMB 1,736,618,971.45, an increase from RMB 1,620,201,044.05 at the end of 2024[14] - The company's total current assets reached RMB 978,123,525.26, up from RMB 836,966,983.85 at the end of 2024, reflecting a growth of approximately 16.9%[14] - The company's total liabilities increased to RMB 231,239,768.19 from RMB 224,822,878.60, representing a rise of approximately 2%[18] - The total equity attributable to shareholders rose to RMB 1,454,779,410.13 from RMB 1,352,705,176.41, marking an increase of about 7.6%[18] Earnings and Cash Flow - The basic earnings per share for the period was ¥0.52, reflecting a growth of 36.84% year-on-year[3] - The diluted earnings per share also stood at ¥0.52, with a similar increase of 36.84% compared to the previous year[3] - The weighted average return on equity increased by 0.92 percentage points to 4.72% for the current period[3] - The company reported a net cash flow from operating activities of ¥234,485,057.15 for the year-to-date, which is a 19.15% increase compared to the same period last year[3] - Cash flow from operating activities generated ¥640.79 million, an increase of 14.3% from ¥560.24 million in the same period last year[24] - The company reported a net cash outflow from investing activities of ¥120.54 million, worsening from a net outflow of ¥70.24 million in the previous year[25] - The company’s cash and cash equivalents at the end of the period were ¥189.17 million, slightly down from ¥191.25 million at the end of the previous year[25] Strategic Initiatives - The company has invested in new product development and technology, focusing on enhancing its market position and expanding its product offerings[17] - The company is exploring market expansion strategies, including potential mergers and acquisitions to strengthen its competitive edge[17] - The company has maintained a strong focus on improving operational efficiency and cost management to enhance profitability in the upcoming quarters[17] - The management has provided optimistic guidance for future performance, anticipating continued growth driven by strategic initiatives and market demand[17] - The company announced plans for a strategic acquisition of a competitor, expected to close in Q1 2026, which will enhance its product offerings[27] Market and User Growth - User data showed a growth of 25% in active users, totaling 5 million by the end of Q3 2025[27] - The company provided a revenue guidance of 1.5 billion CNY for Q4 2025, representing a 20% increase compared to the same period last year[27] - New product launches contributed to a 30% increase in sales, with the latest product line accounting for 400 million CNY in revenue[27] - Market expansion efforts have led to a 10% increase in market share in the Asia-Pacific region[27] Research and Development - Research and development expenses amounted to ¥28.01 million, a 10.9% increase from ¥25.18 million in the previous year[21] - The company is investing 200 million CNY in R&D for new technologies aimed at enhancing user experience[27] Customer Satisfaction and Sustainability - Customer satisfaction ratings improved to 90%, reflecting the success of recent service enhancements[27] - The company is focusing on sustainability initiatives, with a target to reduce carbon emissions by 30% by 2027[27] Other Comprehensive Income - Other comprehensive income after tax was ¥21.56 million, compared to a loss of ¥6.63 million in the same period last year[23] - The gross margin improved to 45%, up from 40% in the previous quarter, due to cost optimization strategies[27]
中煤能源(601898) - 2025 Q3 - 季度财报


2025-10-27 09:00
Financial Performance - The company's operating revenue for Q3 2025 was CNY 36,148,319, a decrease of 23.8% compared to the same period last year[4] - The total profit for the period was CNY 6,969,098, reflecting a decline of 10.7% year-on-year[4] - The net profit attributable to shareholders was CNY 4,779,929, down 1.0% from the previous year[4] - Total revenue for the first three quarters of 2025 reached CNY 110,584,315 thousand, a decrease from CNY 140,412,180 thousand in the same period of 2024, representing a decline of approximately 21.2%[38] - Net profit for the first three quarters of 2025 was CNY 15,203,468 thousand, compared to CNY 19,017,963 thousand in 2024, reflecting a decrease of approximately 20.5%[39] - Operating profit for the first three quarters of 2025 was CNY 18,930,307 thousand, down from CNY 24,522,382 thousand in 2024, a decline of about 22.9%[39] - Net profit attributable to the parent company shareholders decreased to CNY 12,484,630 from CNY 14,614,069, representing a decline of approximately 14.6% year-over-year[40] - Total comprehensive income attributable to the parent company owners was CNY 12,376,095, down from CNY 14,289,514, reflecting a decrease of about 13.4%[40] Cash Flow and Financing - The cash flow from operating activities for the year-to-date was CNY 21,110,314, a decrease of 18.0% compared to the same period last year[4] - Operating cash flow for the first three quarters of 2025 was CNY 21,110,314, a decrease of 18.5% compared to CNY 25,756,764 in the same period of 2024[42] - Cash inflow from operating activities totaled CNY 130,952,806, down 17.8% from CNY 159,478,037 year-over-year[42] - Cash outflow from investing activities increased significantly to CNY 25,897,145 from CNY 13,047,025, indicating a rise of approximately 99.5%[43] - Net cash flow from financing activities decreased by 88.1% to -2.20 billion RMB, impacted by increased debt financing and reduced dividend payments[15] - The company reported a financial expense of CNY 1,516,364 thousand for the first three quarters of 2025, down from CNY 1,879,800 thousand in 2024, indicating a decrease of approximately 19.3%[39] Assets and Liabilities - The total assets at the end of the reporting period were CNY 366,801,669, representing a 2.5% increase from the end of the previous year[5] - Total liabilities as of September 30, 2025, were CNY 168,063,141 thousand, slightly up from CNY 165,718,374 thousand at the end of 2024, indicating an increase of about 1.4%[36] - The company's short-term borrowings increased by 74.3% to 1.85 billion RMB, reflecting the need for financing on key projects[14] - The company's total liabilities due within one year increased by 50.1% to 24.82 billion RMB, primarily due to reclassification of long-term borrowings[14] - The company reported a significant increase in other current assets, which rose by 46.8% to 3.82 billion RMB, mainly from reclassifying loans due within one year[14] Production and Sales - The coal production for the first nine months of 2025 was 10,158,000 tons, a slight decrease of 0.7% compared to the same period in 2024[9] - The sales volume of coal for the first nine months was 19,036,000 tons, down 7.4% year-on-year[9] - The production of urea increased by 21.5% year-on-year, reaching 159,400 tons[9] - The company's coal business revenue for the first nine months of 2025 was 89.33 billion RMB, a decrease of 24.2% compared to 117.85 billion RMB in the same period last year[16] - The sales revenue from self-produced coal was 48.13 billion RMB, down 16.0% year-on-year, primarily due to a price drop of 97 RMB/ton[16] - The total sales volume of self-produced coal increased by 1.07 million tons, contributing an additional 615 million RMB in revenue[16] - The coal business's gross profit for the first nine months of 2025 was 22.52 billion RMB, a decline of 23.0% from 29.25 billion RMB in the previous year[17] Shareholder Information - The company reported a total of 92,932 common stock shareholders as of September 30, 2025[28] - The largest shareholder, China Coal Energy Group, holds 57.43% of the company's total issued shares[31] - The company has not reported any significant changes in shareholder participation in margin financing and securities lending[31] Price and Cost Management - The unit sales cost of self-produced coal decreased to 257.67 RMB/ton, down 10.1% year-on-year, due to improved cost management and procurement practices[22] - Polyolefins sales volume decreased by 15.1% to 984,000 tons, with an average selling price drop of 6.1% to RMB 6,547 per ton[25] - Urea sales volume increased by 29.5% to 1,805,000 tons, but the average selling price fell by 18.2% to RMB 1,746 per ton[25] - Methanol sales volume rose by 28.9% to 1,495,000 tons, with a slight decrease in average selling price by 0.6% to RMB 1,757 per ton[25] - The average selling price for ammonium nitrate decreased by 13.9% to RMB 1,808 per ton, with sales volume remaining stable at 422,000 tons[25] Research and Development - Research and development expenses increased to CNY 15,348 thousand in 2025, compared to CNY 0 in 2024, indicating a focus on innovation[48]
深南电(000037) - 2025 Q3 - 季度财报
2025-10-27 08:55
Financial Performance - The company's operating revenue for Q3 2025 was ¥112,542,562.16, a decrease of 38.54% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2025 was ¥1,796,231.44, an increase of 123.10% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥779,925.20, up 107.00% from the previous year[5] - Basic earnings per share for Q3 2025 were ¥0.0030, reflecting a 123.26% increase compared to the same period last year[5] - Total operating revenue for the current period was ¥278,932,516.41, a decrease of 25% compared to ¥371,008,976.90 in the previous period[20] - Net profit for the current period was -¥15,715,244.31, compared to -¥50,078,429.98 in the previous period, showing an improvement of 69%[21] - Basic and diluted earnings per share were both -¥0.0331, an improvement from -¥0.0757 in the previous period[22] - The total comprehensive income for the current period was -¥14,348,920.17, an improvement from -¥50,078,429.98 in the previous period[22] Assets and Liabilities - Total assets at the end of Q3 2025 were ¥2,011,510,732.33, a slight decrease of 0.06% from the end of the previous year[5] - Total current assets decreased from CNY 1,088,131,454.51 to CNY 968,938,287.47, a decline of approximately 10.98%[18] - Total non-current assets increased from CNY 924,605,181.08 to CNY 1,042,572,444.86, an increase of about 12.78%[19] - Total liabilities increased slightly from CNY 504,812,794.89 to CNY 509,122,730.93, a change of approximately 0.61%[19] - Non-current liabilities increased from CNY 63,648,786.15 to CNY 183,582,010.73, an increase of approximately 187.56%[19] Cash Flow - The company reported a cash flow from operating activities net amount of -¥49,666,179.21, reflecting a 38.99% decrease year-to-date[5] - Cash flow from operating activities was -¥49,666,179.21, an improvement from -¥81,406,730.48 in the previous period[23] - Net cash flow from investing activities decreased by 244.53% to approximately -$289.58 million, due to increased cash outflows for equipment procurement[12] - The net increase in cash and cash equivalents was -$424.49 million, contrasting with a positive increase of $96.65 million in the prior period[24] - The ending balance of cash and cash equivalents was $46.58 million, a significant drop from $407.39 million at the end of the previous period[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 46,770[14] - The largest shareholder, Hong Kong Nanhai Ocean Industry Co., Ltd., holds 15.28% of the shares, totaling approximately 92.12 million shares[14] - The company reported a total equity attributable to shareholders of the parent company of ¥1,470,115,176.52, slightly down from ¥1,485,380,575.08[20] Operational Changes - The company reported a significant increase in accounts receivable, which rose by 59.19% to ¥107,961,108.31, attributed to the independent energy storage project[9] - The company’s contract assets surged by 3291.67% to ¥3,241,784.80, due to increased progress payments and warranty deposits[9] - The company recognized goodwill of ¥35,708.95 from the acquisition of an energy technology company during the reporting period[9] - The deferred income tax assets increased by 637.05% to ¥4,606,548.06, primarily due to the acquisition of the energy technology company[9] - The company is actively pursuing strategic acquisitions to enhance its operational capabilities and market position[12] Expenses - Research and development expenses decreased by 41.15% to approximately $13.30 million, reflecting a reduction in ongoing projects[11] - Financial expenses decreased by 53.63% to approximately $3.31 million, attributed to improved liquidity management[11] - Investment income increased by 38.54% to approximately $16.76 million, mainly from dividend distributions of other equity investments[11] - Cash inflow from investment activities totaled ¥109,004,137.50, compared to ¥484,276,983.04 in the previous period, indicating a significant decrease[23] Accounting and Audit - The company did not undergo an audit for the third quarter financial report[25] - The new accounting standards will be first implemented starting in 2025, affecting the financial statements from the beginning of that year[26]
立霸股份(603519) - 2025 Q3 - 季度财报
2025-10-27 08:55
Financial Performance - The company's operating revenue for the third quarter was CNY 413,218,010.07, representing a year-on-year increase of 0.78%[4] - The total profit for the quarter was CNY 50,993,266.82, reflecting a growth of 5.33% compared to the same period last year[4] - The net profit attributable to shareholders was CNY 41,809,416.29, which is a significant increase of 22.09% year-on-year[4] - The net profit after deducting non-recurring gains and losses was CNY 41,669,670.80, also up by 22.08% compared to the previous year[4] - The basic earnings per share for the quarter was CNY 0.16, marking a 23.08% increase from the same period last year[5] - The net profit for the first three quarters of 2025 reached CNY 118,259,272.55, an increase from CNY 110,352,748.28 in the same period of 2024, representing a growth of approximately 8.6%[20] - Operating profit for the first three quarters of 2025 was CNY 146,081,224.99, compared to CNY 138,510,744.07 in 2024, indicating an increase of about 5.7%[20] Cash Flow - The cash flow generated from operating activities was CNY 60,095,500.88 for the quarter, with a year-to-date total of CNY 214,939,401.12, showing a substantial increase of 1,381.61%[5][9] - Cash flow from operating activities generated a net amount of CNY 214,939,401.12 in the first three quarters of 2025, a significant improvement from a negative cash flow of CNY -16,771,079.77 in the same period of 2024[23] - The company reported a cash inflow from investment activities of CNY 500,498,355.19 in the first three quarters of 2025, compared to CNY 657,896,043.88 in 2024, showing a decline of about 24.0%[24] - The net cash flow from financing activities for the first three quarters of 2025 was CNY -264,069,020.78, an improvement from CNY -314,945,723.92 in the same period of 2024[25] - The company’s total cash and cash equivalents at the end of the third quarter of 2025 amounted to CNY 499,737,988.94, compared to CNY 360,863,375.83 at the end of the same period in 2024, indicating an increase of about 38.5%[25] Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,563,178,683.49, down by 2.50% from the end of the previous year[5] - The total current assets as of September 30, 2025, amounted to RMB 1,338,890,441.44, compared to RMB 1,315,696,777.28 at the end of 2024, reflecting an increase of about 1.6%[15] - The total liabilities as of September 30, 2025, were RMB 373,836,505.03, up from RMB 268,425,860.30 at the end of 2024, showing a significant increase of approximately 39.3%[17] - Non-current assets totaled RMB 224,288,242.05 as of September 30, 2025, down from RMB 287,589,731.93 at the end of 2024, indicating a decrease of about 21.9%[16] - The total equity attributable to shareholders decreased to RMB 1,189,342,178.46 as of September 30, 2025, from RMB 1,334,860,648.91 at the end of 2024, reflecting a decline of about 10.9%[17] - The company’s total liabilities decreased from CNY 1,200,000,000.00 in 2024 to CNY 1,150,000,000.00 in 2025, reflecting a reduction of about 4.2%[26] Shareholder Information - The company reported a total of 13,757 ordinary shareholders at the end of the reporting period[12] - The top shareholder, Lu Fengxian, holds 25.92% of the shares, totaling 69,039,049 shares[12] Inventory and Receivables - The company's inventory increased to RMB 148,525,221.35 as of September 30, 2025, compared to RMB 119,141,812.68 at the end of 2024, indicating a rise of approximately 24.6%[15] - The accounts receivable as of September 30, 2025, were RMB 293,801,057.82, slightly decreasing from RMB 304,652,208.31 at the end of 2024, showing a decline of about 3.6%[15] Revenue Trends - Total operating revenue for the first three quarters of 2025 reached RMB 1,230,635,417.38, slightly increasing from RMB 1,227,659,051.37 in the same period of 2024, representing a growth of 0.2%[19] - Total operating costs decreased to RMB 1,085,554,639.49 in the first three quarters of 2025, down from RMB 1,104,368,381.76 in 2024, indicating a reduction of approximately 1.6%[19] - Total revenue from sales of goods and services for the first three quarters of 2025 was CNY 602,927,115.37, down from CNY 670,100,483.47 in 2024, reflecting a decrease of approximately 10.0%[23] Tax and Refunds - The company received CNY 2,348,643.05 in tax refunds during the first three quarters of 2025, compared to CNY 1,508,986.75 in 2024, representing an increase of approximately 55.4%[24]
中国电研(688128) - 2025 Q3 - 季度财报
2025-10-27 08:55
中国电器科学研究院股份有限公司 2025 年第三季度报告 证券代码:688128 证券简称:中国电研 中国电器科学研究院股份有限公司 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、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。 公司负责人秦汉军、主管会计工作负责人韩保进及会计机构负责人(会计主管人员)刘婷保证季 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 (二) 非经常性损益项目和金额 √适用 □不适用 单位:元 币种:人民币 | 项目 | 本报告期 | 上年同期 | | 本报告 | | | | 年初至 末比上 年同期 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 期比上 | | | ...
顺灏股份(002565) - 2025 Q3 - 季度财报
2025-10-27 08:55
上海顺灏新材料科技股份有限公司 2025 年第三季度报告 上海顺灏新材料科技股份有限公司 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 证券代码:002565 证券简称:顺灏股份 公告编号:2025-059 □是 ☑否 1 上海顺灏新材料科技股份有限公司 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 | 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) | 279,432,537.94 | -34 ...
江瀚新材(603281) - 2025 Q3 - 季度财报
2025-10-27 08:55
湖北江瀚新材料股份有限公司 2025 年第三季度报告 证券代码:603281 证券简称:江瀚新材 湖北江瀚新材料股份有限公司 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 单位:元 币种:人民币 注:"本报告期"指本季度初至本季度末 3 个月期间,下同。 | | | 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 | 4 ...
海正生材(688203) - 2025 Q3 - 季度财报
2025-10-27 08:55
浙江海正生物材料股份有限公司2025 年第三季度报告 证券代码:688203 证券简称:海正生材 浙江海正生物材料股份有限公司 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: 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 | 213,204,666.79 | -6.62 | 621,413,219.98 | -5.74 | | 利润总额 | 4,587,748.15 | -61.93 | 13,965,396.54 | -67.09 | | 归属于上市公司股东的 净利润 | 1,724,203.51 | -79.36 | 4,905,718.25 | -85.34 | | 归属于上市公司股东的 扣除非经常性损 ...
凌云股份(600480) - 2025 Q3 - 季度财报
2025-10-27 08:55
凌云工业股份有限公司 2025 年第三季度报告 证券代码:600480 证券简称:凌云股份 凌云工业股份有限公司 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 | | | | | 单位:元 | 币种:人民币 | | | --- | --- | --- | --- | --- | --- | --- | | | | 本报告期比上年 | | | 年初至报告期末比 | | | 项目 | 本报告期 | 同期增减变动幅 | | 年初至报告期末 | 上年同期增减变动 | | | | | 度(%) | | | 幅度(%) | | | 营业收入 | 4,809,060,8 ...
万向钱潮(000559) - 2025 Q3 - 季度财报
2025-10-27 08:55
万向钱潮股份公司 2025 年第三季度报告 证券代码:000559 证券简称:万向钱潮 公告编号:2025-060 万向钱潮股份公司 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。 3.第三季度财务会计报告是否经过审计 □是 否 1 万向钱潮股份公司 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 追溯调整或重述原因 会计差错更正 | | | 上年同期 | | 本报告期 比上年同 期增减 | 年初至报 告期末 | 上年同期 | | 年初至报 告期末比 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 本报告期 | | | | | | | 上年同期 | | | | | | | | | | 增减 | | | | 调整前 | 调整后 | 调整后 ...