Revenue and Profit - Revenue for Q3 2025 reached ¥43,115,437.17, an increase of 22.82% year-over-year, while year-to-date revenue totaled ¥291,632,714.03, up 20.62% compared to the same period last year[7] - Net profit attributable to shareholders for Q3 2025 was ¥4,283,362.00, representing a significant increase of 126.64% year-over-year, with year-to-date net profit reaching ¥55,955,847.06, up 166.94%[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥4,066,454.64 for Q3 2025, a staggering increase of 3812.85% year-over-year, with year-to-date figures at ¥53,433,974.63, up 262.34%[7] - Basic and diluted earnings per share for Q3 2025 were both ¥0.01, reflecting a 400.00% increase compared to the same period last year, while year-to-date earnings per share were ¥0.07, up 180.00%[7] - Total operating revenue for the third quarter reached ¥291,632,714.03, an increase of 20.7% compared to ¥241,774,161.46 in the same period last year[27] - Net profit for the period was ¥53,874,834.03, representing a significant increase from ¥16,547,102.32 in the previous year, marking a growth of 225.5%[28] - The company's operating profit was ¥60,762,301.49, compared to ¥21,389,027.90 in the same quarter last year, reflecting a growth of 184.5%[28] - Total comprehensive income amounted to CNY 52,629,282.56, compared to CNY 16,121,549.98 in the previous period, reflecting a significant increase[29] - Basic and diluted earnings per share were both CNY 0.07, up from CNY 0.025 in the prior period, indicating improved profitability[29] Assets and Liabilities - Total assets at the end of Q3 2025 amounted to ¥1,480,852,752.46, a 3.79% increase from the end of the previous year[7] - The total assets of the company as of the end of the reporting period were ¥1,480,852,752.46, an increase from ¥1,426,823,900.80 at the end of the previous period[25] - The total liabilities decreased to ¥316,827,994.59 from ¥357,291,620.65, indicating a reduction of 11.3%[25] - Shareholders' equity attributable to the parent company reached ¥1,031,118,753.80, marking a 10.09% increase from the end of the previous year[7] - The equity attributable to shareholders of the parent company increased to ¥1,031,118,753.80 from ¥936,641,860.40, showing a growth of 10.1%[25] Cash Flow - Cash flow from operating activities for the year-to-date period was ¥9,290,583.34, a significant increase of 110.92% compared to the same period last year[7] - Cash inflow from operating activities was CNY 338,948,098.23, an increase from CNY 292,599,062.44 year-over-year[30] - Net cash flow from operating activities was CNY 9,290,583.34, a recovery from a negative CNY 85,104,525.34 in the previous period[31] - Cash inflow from investment activities totaled CNY 945,969,704.83, down from CNY 1,417,199,261.53 in the prior year[31] - Net cash flow from investment activities was negative CNY 9,473,309.92, compared to negative CNY 113,974,242.36 previously, indicating reduced cash outflow[31] - Cash flow from financing activities generated a net inflow of CNY 923,931.87, a recovery from a negative CNY 35,706,310.63 in the previous period[31] - The ending cash and cash equivalents balance was CNY 315,432,416.07, down from CNY 361,186,092.87 at the end of the previous period[31] - The company's cash and cash equivalents at the end of the period amount to ¥315,433,177.84, a slight decrease from ¥316,410,030.26 at the beginning of the period[23] Shareholder Information - The total number of common shareholders at the end of the reporting period is 47,485[17] - The largest shareholder, Hunan Jiachang Investment Co., Ltd., holds 11.74% of the shares, totaling 98,940,202 shares[17] - The second-largest shareholder, Yuan Xionggui, holds 3.40% of the shares, totaling 28,658,819 shares[17] - The total number of restricted shares at the end of the period is 29,043,447 shares, with 5,116,561 shares released from restriction during the period[20] - There are no changes in the number of preferred shareholders or their holdings during the reporting period[19] Operational Metrics - The company reported a decrease in accounts receivable by 62.76%, primarily due to the collection of receivables from the previous year[13] - Inventory increased by 40.17% to ¥37,321,647.44, mainly due to the procurement of youth-related books and educational materials[13] - Research and development expenses for the quarter were ¥6,028,047.42, down from ¥7,402,466.29, indicating a decrease of 18.5%[28] - The company reported an investment income of ¥47,835,368.57, significantly higher than ¥7,080,423.78 in the previous year, marking a growth of 576.5%[28] - Accounts receivable decreased significantly from ¥43,425,329.11 to ¥16,170,483.22, indicating a reduction of about 62.8%[23] - Prepayments increased from ¥16,750,777.75 to ¥25,031,530.52, showing an increase of approximately 49.3%[23] Future Plans - The company has announced plans for a stock option and restricted stock incentive plan for 2024[21]

Financial Performance - The company's operating revenue for Q3 2025 was ¥181,412,621.57, a decrease of 53.12% compared to the same period last year[5] - The net profit attributable to shareholders was a loss of ¥5,628,511.96, representing a decline of 125.87% year-on-year[5] - The company reported a basic earnings per share of -¥0.0066, down 125.80% compared to the same period last year[5] - Total operating revenue for the current period was ¥625,345,910.03, a decrease of 39.3% compared to ¥1,032,361,361.76 in the previous period[32] - Operating profit for the current period was a loss of ¥2,150,324.71, compared to a profit of ¥45,065,178.46 in the previous period[33] - Net profit attributable to shareholders of the parent company was ¥155,597.00, a significant decline from ¥44,065,809.08 in the prior period[33] - Basic earnings per share decreased to ¥0.0002 from ¥0.0519, reflecting the decline in profitability[34] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,357,971,864.99, an increase of 17.23% from the end of the previous year[5] - The total liabilities increased to ¥211,813,712.32 from ¥351,534,159.91, indicating a reduction in financial obligations[30] - Total equity attributable to shareholders of the parent company rose to ¥1,151,491,267.29 from ¥810,989,854.38, reflecting a positive change in shareholder value[30] - The company reported a total non-current asset value of CNY 475,757,093.54, compared to CNY 461,800,821.50 at the beginning of the period[29] Cash Flow - The company’s cash flow from operating activities showed a net outflow of ¥66,170,773.00, a decline of 208.86% year-to-date[5] - Cash inflow from operating activities was ¥692,587,774.44, down from ¥1,157,518,320.60 in the previous period, indicating a decrease in cash generation[35] - The net cash flow from operating activities was -$66.17 million, a decrease from $60.79 million in the previous period[36] - Cash inflow from investment activities totaled $1.79 billion, compared to $1.26 billion in the prior period, resulting in a net cash flow of $95.37 million[36] - Cash outflow for investment activities was $1.70 billion, up from $1.25 billion in the previous period[36] - Cash inflow from financing activities was $84.60 million, significantly higher than $28.69 million in the prior period[36] - The total cash and cash equivalents at the end of the period amounted to $315.80 million, down from $455.23 million in the previous period[36] Shareholder Information - Total number of common shareholders at the end of the reporting period is 47,710[11] - The largest shareholder, Tanghe Holdings Group, holds 15.05% of shares, totaling 130,000,000 shares[11] - Shenzhen High-tech Investment Group holds 8.86% of shares, totaling 76,566,957 shares[11] - The top 10 shareholders collectively hold significant stakes, with the largest three accounting for 31.18% of total shares[11] Research and Development - The company’s R&D expenses for the first nine months of 2025 were ¥76,832,474.03, an increase of 1.82% compared to the previous year[8] - Research and development expenses increased to ¥76,832,474.03 from ¥75,457,245.39, showing continued investment in innovation[33] Compliance and Regulatory Issues - The company has received warning letters from the China Securities Regulatory Commission regarding compliance issues[13] - The company committed to ensuring an average annual net profit of no less than RMB 140 million for the period from January 1, 2022, to December 31, 2024, under the restructuring plan[15] - The cumulative audited net profit for the years 2022-2024 was RMB 101,463,082.78, falling short of the required RMB 420 million[15] Financing Activities - The company plans to apply for a total credit limit of up to RMB 500 million from financial institutions for 2025[14] - The company has signed a financing contract with Huaxia Bank for a maximum financing amount of RMB 50 million, valid for one year[14] - The company has also secured a credit limit of RMB 12 million from Industrial and Commercial Bank of China, with a non-specific credit limit of RMB 5 million[14] - The company applied for a maximum financing limit of RMB 10 million from Shenzhen High-tech Investment Microloan Co., Ltd., with an interest rate of 3.9%[14] Stock Options and Incentives - The company approved the release of 180,000 restricted stocks and 75,000 stock options for two and one incentive objects, respectively, as part of the 2022 incentive plan[19] - The first release of 3.2 million restricted stocks and 450,000 stock options for 14 and 4 incentive objects, respectively, was approved under the 2023 incentive plan[20] - A total of 650,000 stock options were canceled due to three incentive objects no longer qualifying under the incentive plan[21] - The company decided to repurchase and cancel 400,000 restricted stocks from one recipient who left during the lock-up period of the 2023 incentive plan[25] Miscellaneous - The company established a wholly-owned subsidiary, Chengdu Suoling Vehicle Networking Technology Co., Ltd., with a registered capital of RMB 20 million[13] - As of the latest update, all frozen equity of subsidiaries has been released, positively impacting the company's operations[17] - The company did not undergo an audit for the third quarter financial report[37] - The new accounting standards will be first implemented starting in 2025[38]

Financial Performance - Revenue for Q3 2025 was CNY 38,241,990.78, a decrease of 49.26% year-over-year, and CNY 190,407,225.19 for the year-to-date, down 38.30% compared to the same period last year[5] - Net profit attributable to shareholders was CNY -11,787,470.18, a decline of 702.07% year-over-year, and CNY -8,341,409.45 year-to-date, down 147.09% compared to the same period last year[5] - The basic and diluted earnings per share were both CNY -0.0588, reflecting a decrease of 700.00% year-over-year[5] - The company reported a significant decrease in operating income, which fell by 38.30% to CNY 190,407,225.19, primarily due to reduced production output[10] - Operating profit turned negative at -¥10,279,749.11, down from a positive ¥6,354,641.80 in the prior year[34] - Net profit for the period was a loss of ¥8,341,409.45 compared to a profit of ¥17,715,399.44 in the previous period, indicating a significant decline[34] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,400,647,691.40, a decrease of 9.00% from the end of the previous year[5] - As of September 30, 2025, the company's total assets amounted to CNY 1,400,647,691.40, a decrease from CNY 1,539,095,327.99 at the beginning of the period[30] - The company's non-current assets totaled CNY 265,167,589.78, down from CNY 280,428,905.40, indicating a decrease of approximately 5.5%[30] - Total liabilities decreased to ¥367,891,055.69 from ¥476,995,759.58, a reduction of about 22.8%[32] - Total current liabilities decreased to CNY 189,000,000.00 from CNY 241,000,000.00, reflecting a reduction of about 21.6%[30] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 144,497,466.66, an increase of 45.45% compared to the same period last year[10] - Cash inflow from operating activities was ¥306,267,444.03, down from ¥423,038,971.90, reflecting a decrease of approximately 27.7%[36] - The company reported a total cash outflow from operating activities of $161,769,977.37, down from $323,692,958.16 in the previous period[37] - The ending balance of cash and cash equivalents decreased to $77,114,251.78 from $82,752,005.76, indicating a decline in liquidity[37] Shareholder Information - Total number of common shareholders at the end of the reporting period is 9,789[12] - Zhang Haibo holds 49.33% of shares, totaling 98,868,500 shares, with 76,369,500 shares pledged[12] - The company has a total of 76,387,725 restricted shares, with no shares released or added during the period[14] - The company has not reported any changes in the top 10 shareholders due to securities lending or borrowing[13] - The top 10 shareholders do not have any known relationships or concerted actions among them[12] Legal Disputes - The company is involved in a legal dispute with Jiangsu Jialong Engineering Construction Co., Ltd. regarding unpaid project funds amounting to RMB 13,101,685.37 and a penalty of RMB 41,265,988.74[14] - The final judgment requires Jiangsu Jialong to pay RMB 9,292,002.87 and a penalty of RMB 10,372,988.71[15] - The company is pursuing a subrogation lawsuit against the transportation bureau for an amount of RMB 21,626,835.47[15] - The company has initiated arbitration against China Railway 10th Bureau for CNY 30,499,832.05, with a partial ruling requiring an immediate payment of CNY 15,000,000[18] - The company has filed claims against Hubei Yangtze River Road and Bridge Co. for various costs totaling CNY 12,438,078.06 and economic losses of CNY 14,360,999.80, with a recent ruling requiring payment of CNY 2,867,951.44[20] Investment and Income - Investment income increased significantly by 1730.21% to CNY 2,694,748.30 due to higher returns from financial products[10] - The company reported a 338.86% increase in trading financial assets, totaling CNY 248,621,390.05, primarily due to increased investments in financial products[10] - Other income increased to ¥1,846,823.16 from ¥1,475,355.69, showing a growth of about 25.2%[34] Operational Costs - Operating costs decreased by 39.64% to CNY 154,130,412.16, attributed to reduced production output during the reporting period[10] - Total operating costs decreased to ¥182,445,865.47 from ¥298,200,358.26, a reduction of about 38.8% year-over-year[33] Research and Development - Research and development expenses were ¥5,218,210.42, down from ¥8,281,943.28, a decrease of approximately 37.4% year-over-year[34] Audit Status - The third quarter financial report was not audited, which may affect the reliability of the reported figures[39]

Financial Performance - The company's revenue for Q3 2025 was ¥124,288,998.40, a decrease of 3.62% compared to the same period last year[5] - Net profit attributable to shareholders was ¥13,313,146.34, an increase of 4.80% year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥11,616,073.02, up by 5.41% compared to the previous year[5] - The basic earnings per share for the period was ¥0.07, reflecting a growth of 16.67%[5] - Operating revenue for the current period was ¥378,962,837.65, a decrease of 0.60% compared to the previous period's ¥381,238,082.81[13] - Net profit for the current period is ¥38,688,884.21, slightly down from ¥38,965,007.19 in the previous period, representing a decrease of 0.71%[34] - Operating profit for the current period is ¥42,338,984.70, a decrease of 2.61% from ¥43,468,175.93 in the previous period[34] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥1,259,710,759.89, a slight increase of 0.06% from the end of the previous year[5] - The equity attributable to shareholders reached ¥990,185,815.58, representing a 1.90% increase from the previous year[5] - Total liabilities decreased from CNY 272,571,734.39 to CNY 258,407,360.21, a reduction of about 5.2%[29] - The total current assets decreased slightly from CNY 935,357,512.42 at the beginning of the period to CNY 932,631,604.50 at the end of the period, reflecting a decrease of approximately 0.3%[27] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥4,823,323.75, a significant decrease of 86.76%[5] - Cash flow from operating activities generated a net amount of ¥4,823,323.75, significantly down from ¥36,426,749.70 in the previous period[36] - Cash flow from investing activities resulted in a net outflow of ¥4,355,766.56, compared to a larger outflow of ¥151,619,331.47 in the previous period[38] - Cash and cash equivalents at the end of the period totaled ¥331,867,661.29, down from ¥360,017,312.31 at the end of the previous period[38] Revenue and Sales - Cash received from sales of goods and services decreased by 4.16% to ¥319,053,814.56 from ¥332,897,225.12[15] - The company reported a significant increase of 134.10% in cash received from investment activities, amounting to ¥326,350,278.65[17] - New product launches contributed to 25% of total revenue in Q3 2025, indicating strong market demand[40] - Market expansion efforts have led to a 30% increase in sales in the Southeast Asian region[40] Expenses - Total operating costs increased to ¥351,920,439.08, up 2.83% from ¥344,745,544.22 in the previous period[32] - Research and development expenses increased by 1.99% to ¥20,504,538.98 from ¥20,104,269.06 in the previous period[13] - The company experienced a decrease in sales expenses to ¥9,618,746.08, down from ¥11,345,393.82 in the previous period[32] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,977[19] - The largest shareholder, Yang Guangyu, holds 38.66% of the shares, totaling 78,790,700 shares[19] Strategic Initiatives - The company provided a positive outlook for Q4 2025, projecting a revenue growth of 10% to 12%[40] - The company is investing 5 million in R&D for new technologies aimed at enhancing product efficiency[40] - The company is exploring potential acquisitions to enhance its market position, with a focus on tech startups[40] - A new strategic partnership was announced, expected to generate an additional 3 million in revenue over the next year[40] Operational Efficiency - The gross margin improved to 45%, up from 42% in the previous quarter, reflecting better cost management[40] - The company aims to reduce operational costs by 8% through efficiency improvements in the next fiscal year[40]

Financial Performance - The company's revenue for Q3 2025 reached ¥567,541,946.40, representing a 13.10% increase year-over-year[5] - Net profit attributable to shareholders was ¥135,328,619.75, a significant increase of 128.70% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was ¥129,596,243.95, up 187.92% year-over-year[5] - Total revenue for the period reached ¥1,475,387,272.68, an increase of 4.8% compared to ¥1,416,478,603.36 in the previous period[24] - Operating profit significantly improved to ¥203,487,370.83, compared to ¥85,679,349.14 in the prior period, marking an increase of 137.5%[24] - The net profit for the current period is approximately ¥203.79 million, compared to ¥87.55 million in the previous period, representing a significant increase[25] - The basic and diluted earnings per share for the current period are both ¥0.5450, up from ¥0.2254 in the previous period, indicating strong earnings growth[25] - The company’s total comprehensive income for the current period is approximately ¥203.79 million, compared to ¥87.55 million in the previous period[25] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥6,554,894,972.45, reflecting a 5.88% increase from the end of the previous year[5] - Non-current assets totaled ¥3,603,164,534.52, an increase from ¥3,360,598,436.50, reflecting a growth of approximately 7.2%[22] - Total liabilities rose to ¥3,155,105,541.54 from ¥2,872,170,200.68, indicating an increase of about 9.9%[23] - The company's retained earnings increased to ¥1,049,751,209.81 from ¥957,825,432.49, a rise of approximately 9.6%[23] - The total cash and cash equivalents at the end of the period stand at approximately ¥1.04 billion, down from ¥1.36 billion at the end of the previous period[27] Cash Flow - The company reported a net cash flow from operating activities of ¥293,501,801.90, a decrease of 2.74% year-to-date[5] - Cash flow from operating activities generated a net amount of approximately ¥293.50 million, slightly down from ¥301.78 million in the previous period[26] - Cash inflow from financing activities totaled approximately ¥1.01 billion, while cash outflow was about ¥1.03 billion, resulting in a net cash flow of approximately -¥25.44 million[27] - The company reported a decrease in cash flow from investment activities, with a net cash flow of approximately -¥421.94 million, compared to -¥157.10 million in the previous period[26] Shareholder Information - As of September 30, 2025, Tianshui Zhongxing Fungi Technology Co., Ltd. repurchased 18,498,826 shares, accounting for 4.70% of the total share capital[16] - The top shareholder, Tao Jun, holds 28.01% of the shares, totaling 110,136,094 shares[15] - The second-largest shareholder, Tian De, holds 7.92% of the shares, totaling 31,132,277 shares[15] - The company has no preferred shareholders or significant changes in the top 10 shareholders due to securities lending activities[16] - The company has not disclosed any related party transactions among the top shareholders[15] Corporate Actions - The company completed the registration change procedures on October 15, 2025, and obtained a new business license from the Tianshui Market Supervision Administration[17] - The company approved the 2025 stock option incentive plan on September 25, 2025, and subsequently on October 15, 2025, the plan was authorized for implementation[18] - The company held its third extraordinary general meeting of shareholders on October 15, 2025, to review and approve the stock option incentive plan and related matters[19] - The company’s stock option plan aims to enhance employee motivation and align interests with shareholders[18] Operational Metrics - The weighted average return on net assets was 4.07%, an increase of 2.32 percentage points compared to the same period last year[5] - Financial expenses for the first nine months of 2025 were ¥14,821,357.83, a decrease of 52.63% year-over-year[11] - Investment income for the first nine months of 2025 increased by 443.08% to ¥9,215,161.69 compared to the previous year[11] - The company experienced a 51.59% increase in construction in progress, totaling ¥419,448,847.65, due to new project investments[9] - Short-term borrowings decreased by 54.51% to ¥280,000,000.00, primarily due to the repayment of maturing loans[10] - Total operating costs decreased to ¥1,296,625,652.17 from ¥1,346,770,543.00, reflecting a reduction of approximately 3.7%[24] - Cash and cash equivalents decreased to ¥1,102,483,698.06 from ¥1,191,278,822.28, a decline of about 7.4%[22] - Inventory increased to ¥1,412,131,094.55, up from ¥1,252,358,283.51, representing a growth of approximately 12.8%[22]

Financial Performance - The company's operating revenue for the third quarter reached ¥11,437,142,130.32, representing a year-on-year increase of 7.45%[5] - The total profit for the quarter was ¥218,155,915.66, showing a decline of 17.12% compared to the same period last year[5] - The net profit attributable to shareholders was ¥146,687,093.88, down 6.01% year-on-year[5] - The basic earnings per share for the quarter was ¥0.40, a decrease of 4.76% compared to the previous year[6] - The net profit after deducting non-recurring gains and losses was ¥140,852,839.94, down 7.54% year-on-year[5] - Total operating revenue for the first three quarters of 2025 reached ¥31,562,165,635.69, an increase of 2.0% compared to ¥30,941,062,304.04 in the same period of 2024[20] - Net profit for the first three quarters of 2025 was ¥534,563,459.87, a decrease of 27.6% from ¥738,157,169.06 in 2024[21] - The company reported a total comprehensive income of ¥495,561,421.55 for the first three quarters of 2025, down from ¥727,769,776.14 in 2024, a decline of 31.9%[21] - Basic earnings per share for the first three quarters of 2025 is CNY 1.23, down from CNY 1.55 in 2024, reflecting a decline of about 20.6%[22] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥15,963,896,421.14, reflecting an increase of 10.83% from the end of the previous year[6] - The company's total liabilities increased to ¥8,889,906,199.16 in 2025 from ¥7,549,845,076.48 in 2024, representing a growth of 17.8%[18] - The total equity attributable to shareholders at the end of the reporting period was ¥5,863,358,286.29, an increase of 2.31% from the previous year[6] - The company's current assets reached ¥7,612,560,568.53, up from ¥6,052,267,727.61, indicating a growth of about 25.83%[16] - The company's non-current assets totaled ¥8,351,335,852.61, showing a slight increase from ¥8,351,329,184.10, indicating stability in long-term investments[16] Cash Flow - The cash flow from operating activities for the year-to-date was ¥450,945,907.08, showing a slight increase of 2.43%[6] - The company's cash flow from operating activities showed a significant change, with a net cash outflow reported in the latest quarter[20] - Net cash flow from operating activities for the first three quarters of 2025 is CNY 450,945,907.08, slightly up from CNY 440,249,811.18 in 2024, indicating a growth of approximately 1.6%[22] - Cash inflow from operating activities totaled CNY 34,836,855,132.74 in 2025, compared to CNY 33,911,847,287.80 in 2024, marking an increase of about 2.7%[22] - Cash outflow from operating activities was CNY 34,385,909,225.66 in 2025, compared to CNY 33,471,597,476.62 in 2024, which is an increase of approximately 2.7%[22] - The company reported a net decrease in cash and cash equivalents of -CNY 39,797,768.35 for the first three quarters of 2025, contrasting with an increase of CNY 77,369,918.80 in 2024[23] Shareholder Information - The company reported no changes in the participation of major shareholders in margin trading or securities lending activities[14] - The top ten shareholders include YU JI QUN holding 23.87% and CAO PEI FENG holding 19.40% of the shares, indicating a concentrated ownership structure[14] - The company has no significant changes in the relationships among major shareholders, maintaining a consistent control structure[14] Operational Insights - The company recognized government subsidies amounting to ¥6,261,483.30 during the quarter, which are closely related to its normal business operations[8] - The company plans to focus on market expansion and new product development in the upcoming quarters to drive future growth[20] - There are no other significant reminders or important information regarding the company's operational status during the reporting period[15] Research and Development - Research and development expenses for the first three quarters of 2025 were ¥592,443,514.33, down from ¥631,883,982.10 in 2024, indicating a decrease of 6.2%[20] Financial Expenses - The financial expenses for the first three quarters of 2025 amounted to ¥129,442,117.95, significantly higher than ¥88,912,407.42 in 2024, reflecting an increase of 45.7%[20] Cash and Cash Equivalents - The cash and cash equivalents at the end of the third quarter of 2025 amount to CNY 913,798,221.06, compared to CNY 755,643,653.49 at the end of the same period in 2024, reflecting an increase of about 20.9%[23] Accounting Standards - The company will not apply new accounting standards starting from 2025, as stated in the announcement[24]

Revenue and Profitability - Q3 2025 revenue reached ¥1,599,770,808.60, an increase of 14.75% year-over-year[4] - Net profit attributable to shareholders decreased by 30.56% to ¥56,390,212.58 in Q3 2025[4] - Net profit excluding non-recurring items fell by 40.05% to ¥42,269,205.48 in Q3 2025[4] - Basic earnings per share decreased by 22.22% to ¥0.07 in Q3 2025[4] - Net profit attributable to shareholders of the parent company was CNY 193,124,452.58, up 72.4% from CNY 111,968,551.38 in the previous period[21] - The company reported a gross profit margin of approximately 4.6% for the current period, compared to 3.5% in the previous period[20] Cash Flow and Financial Position - Operating cash flow for the year-to-date increased significantly by 2,497.52% to ¥585,492,663.32[11] - The net cash flow from operating activities was $585.49 million, a significant improvement from a negative $24.42 million in the previous period[23] - Cash inflow from investment activities totaled $2.44 billion, compared to $1.76 billion in the prior year, indicating a 38.7% increase[23] - The net cash flow from investment activities was negative at $535.41 million, contrasting with a positive $20.58 million in the previous year[23] - Cash inflow from financing activities reached $2.76 billion, up from $1.66 billion, representing a 66.7% increase year-over-year[23] - The net cash flow from financing activities was negative at $221.72 million, an improvement from a negative $264.32 million in the previous year[23] - Total cash outflow from operating activities was $4.02 billion, slightly down from $4.30 billion in the previous year[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,768,581,785.02, a decrease of 0.84% from the previous year[4] - Total assets amounted to CNY 7,768,581,785.02, slightly down from CNY 7,834,377,469.42 in the previous period[19] - Total liabilities increased to CNY 3,048,605,985.52 from CNY 3,023,203,058.50, reflecting a rise of 0.8%[19] - The total current assets amount to 5,286,110,243.77 CNY, a decrease from 5,397,531,683.76 CNY at the beginning of the period[17] - Cash and cash equivalents decreased from 3,901,311,029.59 CNY to 3,616,739,823.67 CNY[17] Shareholder Information - The total number of common shareholders at the end of the reporting period is 28,149[14] - The largest shareholder, Wang Shouchun, holds 23.37% of shares, totaling 201,150,000 shares[14] - The second-largest shareholder, Qu Lirong, holds 21.34% of shares, totaling 183,600,000 shares[14] - The total number of preferred shareholders is zero, indicating no preferred shares outstanding[15] - The company has no significant changes in the top 10 shareholders participating in margin trading[14] Other Financial Metrics - Government subsidies recognized in the current period amounted to ¥15,153,332.70, contributing to other income growth[6] - The company reported a 100% increase in asset disposal gains year-over-year, indicating improved asset management[11] - The net cash flow from operating activities increased due to higher cash receipts from sales and reduced cash payments related to operations[11] - Research and development expenses totaled CNY 7,376,711.45, a decrease of 8.3% from CNY 8,043,877.13 in the previous period[20] - Deferred income tax assets decreased to CNY 43,460,520.39 from CNY 53,128,164.30, a decline of 18.2%[18] Future Outlook - The company plans to expand its market presence and invest in new product development to drive future growth[20]

宁波震裕科技股份有限公司 2025 年第三季度报告 证券代码：300953 证券简称：震裕科技 公告编号：2025-103 宁波震裕科技股份有限公司 2025 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度财务会计报告是否经过审计 □是 否 1 宁波震裕科技股份有限公司 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 2 宁波震裕科技股份有限公司 2025 年第三季度报告 | （税后） | | | | | --- | --- | --- | --- | | 合计 | 384,278.58 | 14,035,763.60 | -- | 其他符合非经常性损益定义的损益项目的具体情况： □适用 ...

Revenue and Profit - The company's operating revenue for Q3 2025 was ¥48,621,761.11, representing a 26.76% increase compared to the same period last year, but a 22.34% decrease year-to-date[5]. - The net profit attributable to shareholders for Q3 2025 was ¥4,095,008.82, a significant decline of 94.66% year-on-year, while the year-to-date net profit was ¥7,933,175.75, down 89.99%[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2025 was ¥3,904,644.50, an increase of 373.72% year-on-year, with a year-to-date figure of ¥7,538,903.67, up 576.51%[5]. - The company reported total operating revenue of CNY 129,452,113.45 for the current period, a decrease of 22.36% compared to CNY 166,695,111.85 in the previous period[26]. - The net profit for the current period was CNY 8,652,228.49, compared to CNY 79,578,783.91 in the previous period, indicating a significant decline[26]. - The net profit attributable to the parent company's shareholders for the current period is CNY 7,933,175.75, compared to CNY 79,288,717.79 in the previous period, indicating a significant decline[27]. - The total comprehensive income for the current period is CNY 8,652,228.49, down from CNY 79,578,783.91 in the previous period[27]. - The basic and diluted earnings per share for the current period are both CNY 0.0217, compared to CNY 0.2166 in the previous period[27]. Assets and Liabilities - The total assets at the end of Q3 2025 were ¥272,119,578.13, a decrease of 18.27% compared to the end of the previous year[5]. - The company's total assets decreased to CNY 272,119,578.13 from CNY 332,938,240.48, reflecting a reduction of approximately 18.2%[25]. - Total liabilities decreased to CNY 100,360,296.35 from CNY 171,077,366.48, a decline of about 41.3%[24]. - The company's total liabilities decreased significantly, with other payables dropping by 59.41% to ¥53,245,699.74, primarily due to loan repayments[12]. - The company's cash and cash equivalents decreased to CNY 46,596,834.27 from CNY 89,237,060.46, a drop of 47.8%[23]. - Accounts receivable decreased to CNY 15,474,946.89 from CNY 30,744,399.71, a reduction of 49.7%[23]. Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥42,724,569.80, reflecting a substantial increase of 559.64%[5]. - The net cash flow from operating activities for the current period is CNY 42,724,569.80, a recovery from a net outflow of CNY 9,295,124.16 in the previous period[29]. - Cash inflows from operating activities totaled CNY 149,900,893.67, while cash outflows were CNY 107,176,323.87, resulting in a net cash inflow[29]. - Cash received from operating activities decreased by 10.31% to approximately ¥148.95 million compared to ¥166.07 million in the same period last year[16]. - The company reported a decrease in cash received from sales of goods and services, totaling CNY 148,949,838.94, compared to CNY 166,067,087.16 in the previous period[28]. - Cash paid for purchasing goods and services decreased by 44.34% to approximately ¥84.65 million from ¥152.11 million in the previous year, primarily due to a decline in urea business sales[16]. - Cash paid to employees decreased by 19.92% to approximately ¥16.84 million from ¥21.03 million, attributed to cost reduction measures[16]. - Cash paid for other operating activities decreased by 18.19% to approximately ¥2.32 million from ¥2.84 million, also due to cost reduction efforts[16]. - The net cash flow from investing activities is CNY -7,719,541.20, a decrease from CNY 81,503,339.11 in the previous period[29]. Investments - The company has increased its long-term equity investments to ¥5,000,000.00, reflecting a 100% increase due to contributions to the Pengyu Hongyuan Fund[12]. - Cash paid for investment activities amounted to ¥5 million, representing a new investment in the Pengyu Hongyuan Fund[16]. - The company plans to invest in the Shenzhen Pengyu Hongyuan Venture Capital Partnership, contributing ¥5 million, which is 45.45% of the total initial capital[20]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 35,836[18]. - The largest shareholder, Ningbo Yinyi Holdings Co., Ltd., holds 23.76% of shares, totaling 87 million shares[18]. - The company signed an asset transfer agreement to sell 87 million shares, representing 23.76% of the total share capital, for a total consideration of CNY 63,200.00 million[22]. Expenses - The company's research and development expenses were CNY 3,449,395.19, down from CNY 4,051,770.14, a decrease of 14.8%[26]. - The company's financial expenses decreased by 80.07% to ¥261,466.26 due to the repayment of loans from controlling shareholders[14]. - Cash paid for financing activities increased by 276.02% to approximately ¥77.63 million from ¥20.64 million, primarily for repaying loans from controlling shareholders[16].

Financial Performance - Q3 2025 revenue was CNY 347,888,464.29, a decrease of 24.69% year-on-year[5] - Net profit attributable to shareholders was CNY 65,124,856.92, down 3.79% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was CNY -7,544,342.43, a decline of 117.45% year-on-year[5] - Total operating revenue for the current period reached CNY 1,522,943,818.43, an increase of 3.6% compared to CNY 1,471,754,788.04 in the previous period[22] - Net profit for the current period was CNY 423,563,245.08, representing a growth of 7.4% from CNY 394,368,379.14 in the previous period[23] - The company reported a total comprehensive income of CNY 421,758,079.64, up from CNY 393,965,532.03 in the previous period[23] Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,638,345,939.71, a decrease of 2.24% from the end of the previous year[5] - The total assets of the company as of September 30, 2025, amounted to RMB 6,638,345,939.71, a decrease from RMB 6,790,420,367.07 at the beginning of the period[20] - The company's current assets totaled RMB 4,056,960,926.68, down from RMB 4,154,300,034.09 at the beginning of the period[20] - The company's total liabilities decreased from RMB 2,677,107,646.35 to RMB 1,787,330,256.63, indicating a significant reduction in debt[21] - The company's equity increased from RMB 1,066,313,720.72 to RMB 1,850,015,683.08, reflecting a strong improvement in financial health[21] Cash Flow - The company's cash flow from operating activities for the year-to-date was CNY 502,538,743.19, an increase of 117.35%[5] - The company reported a significant increase in cash and cash equivalents, rising by 49.63% to CNY 283,684,244.09[9] - The company reported a significant increase in operating cash flow, reaching ¥502.54 million, up 117.35% from the previous period[10] - Cash flow from investment activities showed a net cash inflow of $18.38 million, a significant improvement from a net outflow of $323.64 million in the previous period[25] - Cash flow from financing activities resulted in a net cash outflow of $425.02 million, compared to a net inflow of $20.19 million last year[25] - The total cash and cash equivalents at the end of the period amounted to $283.68 million, down from $315.88 million in the previous year[25] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 32,745, with the largest shareholder, Gansu Qizheng Industrial Group Co., Ltd., holding 63.72% of shares[11] - The company approved a share repurchase plan with a total amount not less than RMB 90 million and not exceeding RMB 160 million, with a maximum repurchase price of RMB 31.65 per share, potentially repurchasing approximately 284,360 to 505,530 shares, representing about 0.5354% to 0.9519% of the total share capital[14] - As of September 30, 2025, the company repurchased 2,673,910 shares at a total cost of approximately RMB 58.92 million, with a maximum price of RMB 23.00 and a minimum price of RMB 20.31 per share, accounting for 0.47% of the total share capital[16] Operational Metrics - Accounts receivable increased by 168.00% to CNY 253,272,585.61 due to credit policy adjustments[9] - Inventory increased by 51.17% to CNY 280,157,615.32, reflecting higher stock levels[9] - The company recorded a 62.43% increase in other income, amounting to ¥108.24 million, mainly due to an increase in government subsidies received[10] - The company’s investment income decreased by 155.74%, resulting in a loss of ¥5.96 million, attributed to long-term equity investment losses[10] - The company’s total capital reserve increased by 183.37% to ¥1.40 billion, primarily due to the conversion of convertible bonds[10] - The company reported a 342.33% increase in asset impairment losses, totaling ¥586.63 million, due to the reversal of inventory depreciation provisions[10] Research and Development - Research and development expenses increased to CNY 49,651,178.73, up from CNY 41,773,785.26, reflecting a commitment to innovation[22] Miscellaneous - The company did not undergo an audit for the third quarter financial report[26]