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]

Financial Performance - The company's revenue for Q3 2025 was ¥104,513,091.22, a decrease of 20.66% compared to the same period last year[6]. - The net profit attributable to shareholders was a loss of ¥12,867,529.93, representing a decline of 687.09% year-over-year[6]. - Total operating revenue decreased to CNY 350,936,943.80 from CNY 399,844,406.71, representing a decline of approximately 12.2% year-over-year[18]. - Net profit for the period was CNY -5,560,874.86, compared to a net profit of CNY 20,680,616.69 in the previous period, indicating a significant decline[19]. - The company reported a comprehensive income total of CNY -6,625,551.68, down from CNY 20,838,267.38 in the prior year[20]. - Basic and diluted earnings per share were both CNY -0.0189, compared to CNY 0.0848 in the previous period[20]. Cash Flow - The net cash flow from operating activities for the year-to-date was -¥13,427,665.37, an increase of 54.42% compared to the previous year[6]. - Cash inflows from operating activities increased to CNY 469,394,178.85 from CNY 401,946,787.42, marking an increase of approximately 16.7% year-over-year[22]. - The net cash flow from operating activities was -$13.43 million, an improvement from -$29.46 million in the previous period[23]. - Cash inflow from investment activities totaled $2.45 billion, compared to $1.69 billion in the prior period, indicating a significant increase[23]. - The net cash flow from investment activities was -$6.29 million, an improvement from -$114.08 million year-over-year[23]. - Cash inflow from financing activities amounted to $78.43 million, up from $34.63 million in the previous period[23]. - The net cash flow from financing activities was $43.53 million, compared to $30.25 million in the prior period, showing positive growth[23]. - The ending cash and cash equivalents balance was $272.83 million, an increase from $220.37 million in the previous period[23]. - The company reported a total cash outflow from operating activities of $482.82 million, compared to $431.41 million previously[23]. Assets and Liabilities - Total assets at the end of Q3 2025 were ¥1,271,598,587.31, down 3.38% from the end of the previous year[6]. - Total current assets decreased to ¥1,010,592,266.00 from ¥1,062,964,735.76, a reduction of approximately 4.9%[14]. - Total assets decreased to ¥1,271,598,587.31 from ¥1,316,149,336.10, reflecting a decline of about 3.4%[15]. - Total liabilities decreased to CNY 230,395,668.59 from CNY 260,536,279.33, a decline of about 11.6% year-over-year[16]. - Total equity attributable to shareholders decreased to CNY 1,036,084,984.29 from CNY 1,055,613,056.77, a decrease of approximately 1.9%[16]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 14,065[11]. - The largest shareholder, Qingdao Haishuo Health Industry Development Co., Ltd., holds 47.30% of shares, totaling 115,317,531 shares[11]. - The company repurchased 1,295,000 shares, accounting for 0.53% of the total share capital as of September 30, 2025[11]. Operational Metrics - The weighted average return on equity was -1.23%, a decrease of 1.44% compared to the same period last year[6]. - The company reported a significant increase in short-term borrowings, which rose by 481.41% to ¥57,613,666.67[9]. - The company's inventory shares increased by 263.06% to ¥15,786,672.42 due to share buybacks[9]. - The financial expenses for the year-to-date were ¥997,333.11, an increase of 163.26% compared to the previous year[9]. - The company experienced a 39.38% decrease in tax refunds received, totaling ¥20,128,297.91[9]. - Accounts receivable decreased to ¥85,786,041.93 from ¥127,645,101.95, a decline of about 32.9%[14]. - Total current liabilities decreased to ¥197,583,712.63 from ¥243,237,002.28, a decrease of about 18.8%[15]. - Non-current assets increased to ¥261,006,321.31 from ¥253,184,600.34, an increase of approximately 3.1%[15]. Other Information - The company's cash and cash equivalents increased to ¥280,785,888.16 from ¥269,829,693.93, representing a growth of approximately 5.4%[14]. - Deferred income increased to CNY 7,358,979.98 from CNY 6,849,508.27, a rise of approximately 7.4%[16]. - The cash paid for goods and services amounted to CNY 338,786,844.94, up from CNY 292,579,006.24, reflecting an increase of about 15.8% year-over-year[22]. - The cash paid to employees was $90.98 million, down from $107.64 million in the prior period[23]. - The cash paid for taxes was $17.51 million, an increase from $10.92 million year-over-year[23]. - The company’s third-quarter financial report was not audited[25].

Financial Performance - The company's operating revenue for Q3 2025 was ¥294,596,162.43, representing a year-on-year increase of 23.31%[5] - The net profit attributable to shareholders was a loss of ¥3,434,670.89, a decrease of 295.13% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥3,702,331.02, down 237.36% year-on-year[5] - The basic and diluted earnings per share were both -¥0.009, a decrease of 260.00% compared to the previous year[5] - Net profit for the current period was ¥16.95 million, down from ¥33.68 million in the previous period, indicating a decline of about 49.6%[19] - Basic and diluted earnings per share decreased to ¥0.048 from ¥0.095, a reduction of approximately 49.5%[20] - The company’s total profit for the current period was ¥17.44 million, a decrease from ¥37.70 million in the previous period, reflecting a decline of approximately 53.8%[19] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,411,986,093.72, an increase of 1.21% from the end of the previous year[5] - The company's total assets amount to ¥2,411,986,093.72, an increase from ¥2,383,251,474.70 at the beginning of the period[16] - Current assets total ¥1,483,355,673.31, up from ¥1,415,443,344.81 at the start of the period[15] - Total liabilities stand at ¥1,199,255,805.40, a marginal increase from ¥1,198,699,319.49[16] - The company's equity attributable to shareholders increased to ¥1,212,730,288.32 from ¥1,184,552,155.21[16] Cash Flow - Cash flow from operating activities showed a net outflow of ¥30,513,453.39, an improvement of 73.70% compared to the previous period[10] - Cash flow from operating activities showed a net outflow of ¥30.51 million, an improvement compared to a net outflow of ¥116.04 million in the previous period[21] - Cash and cash equivalents at the end of the period totaled ¥43.92 million, down from ¥26.25 million in the previous period[22] - The company reported a net cash outflow from investment activities of ¥34.51 million, contrasting with a net inflow of ¥19.57 million in the previous period[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 27,658[11] - The largest shareholder, Shen Jianbiao, holds 35.02% of the shares, totaling 124,616,800 shares[11] - The company has no preferred shareholders or significant changes in shareholder financing activities reported[12] Operating Costs and Expenses - Total operating revenue for the current period reached ¥797.53 million, an increase from ¥784.58 million in the previous period, representing a growth of approximately 1.21%[18] - Total operating costs increased to ¥773.72 million from ¥740.48 million, marking a rise of about 4.48%[18] - Research and development expenses rose significantly to ¥40.71 million, up from ¥31.50 million, reflecting an increase of approximately 29.2%[19] Financial Activities - Financial expenses increased by 77.46% to ¥39,087,795.83, primarily due to one-time compensatory interest payments related to convertible bonds[10] - Short-term borrowings rose by 45.03% to ¥489,199,989.12, attributed to an increase in financing scale during the reporting period[9] - The company’s capital reserve increased by 34.07% to ¥234,297,427.32, mainly due to the conversion of unconverted portions of convertible bonds into capital reserves[9] - The company raised ¥665 million through financing activities, compared to ¥441.58 million in the previous period, an increase of approximately 50.7%[22] - The company reported a significant increase in prepayments by 143.83% to ¥26,778,641.06, mainly due to increased procurement prepayments[9]

秦皇岛天秦装备制造股份有限公司 2025 年第三季度报告 证券代码：300922 证券简称：天秦装备 公告编号：2025-076 秦皇岛天秦装备制造股份有限公司 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 秦皇岛天秦装备制造股份有限公司 2025 年第三季度报告 一、主要财务数据 □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） | 57,425,774.21 | 0.77% | 168,112,363.65 | 11.73% | | ...

Revenue and Profitability - Revenue for Q3 2025 was ¥858,083,825.21, a decrease of 3.44% year-over-year, while year-to-date revenue was ¥2,717,162,109.93, down 5.27% compared to the previous year[5] - The net profit attributable to shareholders was -¥15,321,509.52 for Q3 2025, representing a decline of 166.57% year-over-year, and a year-to-date net profit of -¥7,290,249.84, down 103.85%[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥24,443,027.86 for Q3 2025, a decrease of 267.26% year-over-year, with a year-to-date figure of -¥35,998,814.25, down 122.58%[5] - The company reported a significant decrease in operating profit, down ¥25,617,000 or 97% year-over-year, primarily due to a decline in product prices[10] - Net profit for the current period was CNY -8,276,023.27, a decline from CNY 205,129,633.76 in the previous period[22] - Basic earnings per share for the current period was CNY -0.0131, down from CNY 0.3322 in the previous period[22] Cash Flow and Financial Position - The operating cash flow for the year-to-date period was -¥85,736,714.06, reflecting a decline of 119%[5] - Operating cash flow for the current period was -85,736,714.06 CNY, a significant decrease from 444,522,862.08 CNY in the previous period, indicating a decline of approximately 119.3%[23] - The company experienced a 119% decrease in net cash flow from operating activities, amounting to a reduction of ¥53,026,000 year-over-year, indicating challenges in cash generation from core operations[10] - The company reported a net decrease in cash and cash equivalents of -31,175,879.11 CNY, compared to -12,875,279.82 CNY in the previous period[24] - The ending balance of cash and cash equivalents was 776,681,997.33 CNY, slightly up from 772,601,638.45 CNY in the previous period[24] - The company’s cash inflow from sales of goods and services was 3,191,540,314.34 CNY, down from 3,823,885,772.64 CNY in the previous period, indicating a decline of approximately 16.5%[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,167,861,503.57, down 8.93% from the end of the previous year[5] - Total assets decreased to CNY 5,167,861,503.57 from CNY 5,674,711,156.22[19] - Total liabilities decreased to CNY 797,081,038.47 from CNY 1,157,098,415.68[19] - Total equity decreased to CNY 4,370,780,465.10 from CNY 4,517,612,740.54[19] - Shareholders' equity attributable to the parent company was ¥4,032,906,401.28, a decrease of 3.65% compared to the end of the previous year[5] Research and Development - R&D expenses increased by ¥15,340,000, representing a 71% increase year-over-year, indicating a focus on innovation[9] - Research and development expenses increased to CNY 36,923,437.10, up from CNY 21,581,248.12 in the previous period[21] Investment Activities - The net cash flow from investment activities increased by ¥53,182,000, a rise of 182% year-over-year, suggesting improved cash management strategies[10] - Total cash inflow from investment activities was 4,975,154,401.17 CNY, an increase from 4,685,174,938.87 CNY in the previous period, representing a growth of about 6.2%[24] - Net cash flow from investment activities improved to 239,487,071.86 CNY, compared to a negative cash flow of -292,332,351.67 CNY in the previous period[24] - The company received 4,950,000,000.00 CNY from investment recoveries, an increase from 4,650,000,000.00 CNY in the previous period[24] Shareholder Information - As of September 30, 2025, the company repurchased a total of 9,018,931 shares, accounting for 1.61% of the total share capital, with a total expenditure of RMB 63,284,012.17[15] - The top shareholder, Chengdu Huachuan Petroleum and Natural Gas Exploration and Development Co., Ltd., holds 72,053,552 shares, representing 12.89% of the total shares[14] Other Information - The company has not disclosed any new product developments or technological advancements during the reporting period[14] - There are no significant mergers or acquisitions reported in the recent financial disclosures[14] - The company has not provided specific future guidance or market expansion strategies in the latest conference call[14] - Total operating revenue for the current period was CNY 2,717,162,109.93, a decrease of 5.3% from CNY 2,868,472,643.82 in the previous period[21] - Total operating costs increased to CNY 2,749,658,113.92, up 3.8% from CNY 2,648,769,351.19 in the previous period[21] - Other comprehensive income after tax for the current period was CNY 7,354,068.03, compared to CNY 2,903,795.77 in the previous period[22] - Cash inflow from financing activities totaled 24,490,289.97 CNY, down from 55,883,272.32 CNY in the previous period, reflecting a decrease of approximately 56.2%[24] - Net cash flow from financing activities was -186,629,110.25 CNY, worsening from -166,443,090.68 CNY in the previous period[24] - The company paid 101,468,785.46 CNY in dividends and interest, a decrease from 115,724,109.95 CNY in the previous period[24]

Revenue and Profitability - The company's revenue for Q3 2025 reached ¥561,026,841.83, representing a 21.41% increase year-over-year[4] - Net profit attributable to shareholders decreased by 12.11% to ¥31,433,593.34 in Q3 2025[4] - The net profit excluding non-recurring items was ¥22,846,606.40, down 5.21% compared to the same period last year[4] - Total operating revenue for the current period reached ¥1,585,426,474.14, an increase of 6.34% compared to ¥1,491,103,684.04 in the previous period[17] - Net profit for the current period was ¥75,458,363.59, a decrease of 14.38% from ¥88,181,952.07 in the previous period[18] - The net profit attributable to shareholders of the parent company was ¥102,087,541.82, slightly up from ¥101,870,107.22, indicating a growth of 0.21%[18] - The company reported a total comprehensive income of ¥76,115,048.02, down from ¥87,725,429.86, a decline of 13.67%[19] Assets and Liabilities - The total assets as of September 30, 2025, amounted to ¥4,731,432,823.57, reflecting a 2.83% increase from the end of the previous year[4] - Total liabilities increased to ¥2,985,188,299.64 from ¥2,891,063,923.46, representing a rise of 3.26%[18] - Total equity attributable to shareholders of the parent company rose to ¥1,768,946,195.28, compared to ¥1,706,302,056.13, marking an increase of 3.10%[18] Cash Flow and Financial Activities - Cash flow from operating activities for the year-to-date reached ¥249,513,012.20, a significant increase of 1,535.65%[7] - Operating cash flow for the current period is ¥249,513,012.20, a significant increase from ¥15,254,672.60 in the previous period, reflecting a strong operational performance[20] - Total cash inflow from investment activities is ¥1,549,934,254.25, compared to ¥1,045,635,946.71 in the previous period, indicating a robust investment recovery[21] - Net cash flow from investment activities is -¥234,772,055.82, an improvement from -¥343,722,182.50 in the previous period, showing reduced cash outflow[21] - Cash inflow from financing activities is ¥462,043,053.00, down from ¥809,812,968.00 in the previous period, reflecting a decrease in borrowing[21] - Net cash flow from financing activities is -¥54,316,726.23, a decline from ¥83,712,277.20 in the previous period, indicating tighter financing conditions[21] - The ending cash and cash equivalents balance is ¥601,984,824.70, down from ¥822,090,598.16 in the previous period, showing a decrease in liquidity[21] Investments and Expenses - The company reported a 69.86% increase in trading financial assets, totaling ¥436,040,770.49 as of September 30, 2025[6] - Investment income rose by 70.89% to ¥6,679,093.91, attributed to dividends from non-current financial assets[6] - Research and development expenses were ¥98,983,452.52, slightly down from ¥100,118,739.50, indicating a decrease of 1.14%[18] Borrowings and Shareholder Information - The company experienced a 34.50% increase in short-term borrowings, amounting to ¥456,294,484.24[6] - The total number of common shareholders at the end of the reporting period was 71,036[9] - The company plans to issue 99,726,887 shares to specific investors, aiming to raise approximately 719.03 million RMB[11] Inventory and Payables - The company’s inventory rose to 1.41 billion RMB, up from 1.36 billion RMB[14] - The company’s accounts payable increased to 492.73 million RMB from 424.51 million RMB[14] - The company’s contract liabilities rose to 765.57 million RMB from 707.44 million RMB[14] - The company’s long-term equity investments decreased to 25.64 million RMB from 27.07 million RMB[14] - The company’s goodwill remained unchanged at 29.02 million RMB[14] Financial Performance and Audit Status - The weighted average return on equity was 1.80%, a decrease of 0.20% compared to the previous year[4] - The company has not yet audited the third-quarter financial report, which may impact the reliability of the reported figures[22]

Financial Performance - Revenue for Q3 2025 was CNY 221,248,143.92, a decrease of 32.59% compared to the same period last year[4] - Total profit for Q3 2025 was CNY 19,886,484.88, down 40.53% year-over-year[4] - Net profit attributable to shareholders for Q3 2025 was CNY 18,137,769.98, a decline of 38.84% compared to the previous year[4] - The net profit excluding non-recurring gains and losses for Q3 2025 was CNY 12,495,804.04, down 55.26% year-over-year[4] - Basic earnings per share for Q3 2025 were CNY 0.0705, a decrease of 38.64% compared to the same period last year[5] - The weighted average return on equity for Q3 2025 was 0.78%, a decrease of 0.41 percentage points from the previous year[5] - Total operating revenue for the first three quarters of 2025 was CNY 872,377,792.68, a decrease of 3.7% compared to CNY 903,314,814.66 in the same period of 2024[17] - Net profit for the first three quarters of 2025 reached CNY 80,766,510.66, an increase of 12% compared to CNY 72,252,606.79 in the same period of 2024[18] - The total comprehensive income for the parent company increased to ¥80,766,565.87 in the first three quarters of 2025, up from ¥72,261,969.90 in the same period of 2024, representing an increase of approximately 11.0%[19] - Basic and diluted earnings per share rose to ¥0.3141 in 2025 from ¥0.2801 in 2024, reflecting a growth of about 12.8%[19] Assets and Liabilities - Total assets at the end of Q3 2025 were CNY 2,980,645,893.03, a decrease of 9.99% from the end of the previous year[5] - Cash and cash equivalents increased to CNY 816,071,605.21 as of September 30, 2025, up 22.8% from CNY 664,323,336.43 at the end of 2024[13] - Total assets decreased to CNY 2,980,645,893.03 as of September 30, 2025, down from CNY 3,311,339,849.88 at the end of 2024[15] - Total liabilities decreased to CNY 661,407,660.05 as of September 30, 2025, compared to CNY 848,787,067.56 at the end of 2024[15] - The company's equity attributable to shareholders was CNY 2,318,584,453.32 as of September 30, 2025, down from CNY 2,461,898,947.45 at the end of 2024[15] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 58,403,499.39, a decrease of 48.44% compared to the previous year[4] - The net cash flow from operating activities decreased to ¥58,403,499.39 in 2025 from ¥113,262,687.43 in 2024, a decline of about 48.7%[21] - Cash inflows from operating activities totaled ¥842,478,097.23 in the first three quarters of 2025, compared to ¥720,226,517.12 in 2024, marking an increase of approximately 16.9%[21] - Cash inflows from investment activities surged to ¥2,068,221,409.25 in 2025, compared to ¥332,474,622.74 in 2024, indicating a significant increase of approximately 522.5%[22] - The net cash flow from investment activities improved to ¥341,815,717.84 in 2025, reversing from a negative cash flow of -¥159,221,229.20 in 2024[22] - Cash inflows from financing activities amounted to ¥70,500,000.00 in 2025, up from ¥40,001,924.02 in 2024, reflecting an increase of approximately 76.1%[23] - The net cash flow from financing activities was -¥248,536,388.92 in 2025, worsening from -¥124,480,415.79 in 2024, indicating a decline of about 99.8%[23] - The ending cash and cash equivalents balance increased to ¥815,771,605.21 in 2025 from ¥1,259,926,855.06 in 2024, a decrease of approximately 35.2%[23] Research and Development - Research and development expenses for the first three quarters of 2025 were CNY 30,202,759.39, an increase from CNY 27,648,101.45 in the same period of 2024[18] Future Plans - The company plans to focus on market expansion and new product development in the upcoming quarters[12] Other Information - The company reported a significant decline in order volume, impacting cash flow and overall performance[8] - The company did not apply new accounting standards or interpretations for the first time in 2025[24]

Financial Performance - The company's operating revenue for the third quarter reached ¥148,931,464.05, representing an increase of 83.53% compared to the same period last year[4] - The total profit for the quarter was ¥4,932,876.92, a significant increase of 149.58% year-over-year[4] - The net profit attributable to shareholders was ¥7,431,334.33, reflecting a year-over-year increase of 182.09%[4] - The net profit after deducting non-recurring gains and losses was ¥6,624,480.09, up 160.26% from the previous year[4] - Basic and diluted earnings per share for the quarter were both ¥0.10, a year-over-year increase of 176.92%[5] - Total operating revenue for the first three quarters of 2025 reached ¥280,008,309.68, an increase of 25.0% compared to ¥223,792,957.86 in the same period of 2024[22] - Net profit for the first three quarters of 2025 was -¥2,589,125.71, an improvement from -¥30,749,710.92 in the same period of 2024[24] - Basic and diluted earnings per share for the first three quarters of 2025 were both -¥0.01, an improvement from -¥0.37 in the same period of 2024[24] Cash Flow - Cash flow from operating activities for the year-to-date period was ¥52,007,646.21, showing a substantial increase of 210.86%[4] - Net cash flow from operating activities increased to $52,007,646.21, compared to $16,730,064.95 in the previous period[27] - Cash inflow from operating activities totaled $341,908,406.20, slightly up from $340,831,361.23 year-over-year[27] - Net cash outflow from operating activities was $289,900,759.99, down from $324,101,296.28 year-over-year[27] - Cash inflow from investment activities amounted to $97,356,015.02, up from $55,106,822.22 year-over-year[28] - Net cash outflow from investment activities was $58,017,037.83, compared to $30,838,711.56 in the previous period[28] - Cash inflow from financing activities totaled $149,392,761.11, down from $169,798,024.78 year-over-year[28] - Net cash outflow from financing activities was $162,481,389.61, compared to $220,693,629.99 in the previous period[28] - The net increase in cash and cash equivalents was -$19,098,020.12, an improvement from -$65,002,418.37 year-over-year[28] - The ending balance of cash and cash equivalents was $113,351,448.03, compared to $49,082,983.81 in the previous period[28] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥1,383,615,369.01, a slight increase of 0.24% from the previous year-end[5] - The company's total assets amounted to ¥1,383,615,369.01, slightly up from ¥1,380,253,616.86 year-over-year[20] - Total liabilities decreased to ¥591,312,532.40 from ¥611,445,395.01, reflecting a reduction of approximately 3.3%[20] - The company's equity increased to ¥792,302,836.61, compared to ¥768,808,221.85 in the previous year, marking a growth of 3.0%[20] Research and Development - Research and development expenses totaled ¥15,877,978.69 for the quarter, accounting for 10.66% of operating revenue, a decrease of 5.07 percentage points year-over-year[5] - Research and development expenses for the first three quarters of 2025 were ¥37,838,987.73, a decrease of 9.0% from ¥41,551,422.70 in 2024[23] Shareholder Information - The company reported a total of 22,055,000 shares held by the largest shareholder, Zhang Yinhua, representing a significant portion of the company's equity[14] - The company has not disclosed any related party relationships among the top shareholders[14] - The company has not yet implemented the share repurchase plan approved on April 25, 2025, as of September 30, 2025[15] - The company is actively monitoring its financial performance and will provide updates on its share repurchase progress in future announcements[15] Government Subsidies - The company reported a significant increase in government subsidies recognized in the current period, contributing to the overall profit growth[10] Current Assets - As of September 30, 2025, the company's total current assets amounted to ¥752,817,070.32, slightly down from ¥755,726,768.80 as of December 31, 2024, indicating a decrease of approximately 0.12%[18] - The company's cash and cash equivalents were reported at ¥121,224,049.63, down from ¥140,322,069.76, reflecting a decrease of about 13.5%[18] - Accounts receivable increased to ¥247,447,001.80 from ¥213,991,979.04, representing an increase of approximately 15.6%[18] - Inventory levels rose to ¥104,538,067.70, compared to ¥83,317,473.75, marking an increase of around 25.4%[18] - The company's long-term equity investments decreased slightly to ¥89,704,053.06 from ¥90,483,914.82, a decline of about 0.87%[18] - Fixed assets increased to ¥420,190,668.00 from ¥386,447,995.32, showing a growth of approximately 8.7%[18] Accounting Standards - The company will not apply new accounting standards starting from 2025[29]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥958,485,931.39, representing a year-on-year increase of 31.65%[4] - The total profit for the period was ¥63,384,826.27, showing a significant decrease of 43.96% compared to the same period last year[4] - The net profit attributable to shareholders was ¥54,876,612.91, down 45.36% year-on-year[4] - The basic earnings per share for the quarter was ¥0.35, reflecting a decline of 25.10% compared to the previous year[5] - Net profit for the first three quarters of 2025 was CNY 203.36 million, a decrease of 30.93% compared to CNY 294.45 million in the same period of 2024[20] - Operating profit for the first three quarters of 2025 was CNY 231.21 million, down from CNY 337.03 million in the previous year, representing a decline of 31.39%[20] - The company reported a total comprehensive income of CNY 213.33 million for the first three quarters of 2025, compared to CNY 277.56 million in 2024, reflecting a decrease of 23.19%[21] - Basic and diluted earnings per share for the first three quarters of 2025 were both CNY 0.95, down from CNY 1.35 in the same period of 2024, a decline of 29.63%[21] Assets and Liabilities - The total assets increased by 7.69% to ¥5,224,819,236.02 compared to the end of the previous year[5] - Total assets as of September 30, 2025, amounted to ¥5,224,819,236.02, up from ¥4,851,759,098.61 at the end of 2024, representing a growth of approximately 7.7%[17] - Total liabilities increased to ¥1,838,975,764.01 from ¥1,550,622,539.98, indicating a rise of about 18.6%[16] - The company's equity attributable to shareholders reached ¥3,385,843,472.01, compared to ¥3,301,136,558.63 in the previous year, reflecting an increase of approximately 2.5%[17] Cash Flow - Cash flow from operating activities for the year-to-date was ¥65,676,479.00, a decrease of 73.76% compared to the previous year[4] - Cash flow from operating activities for the first three quarters of 2025 was CNY 65.68 million, a significant decrease of 73.74% compared to CNY 250.32 million in 2024[23] - Cash and cash equivalents as of September 30, 2025, were ¥455,184,139.44, a decrease from ¥1,382,527,655.60 at the end of 2024[15] - Cash and cash equivalents at the end of the third quarter of 2025 were CNY 455.18 million, a decrease of 68.32% from CNY 1.44 billion at the end of the third quarter of 2024[23] - The company incurred a net cash outflow from investing activities of CNY 955.07 million in the first three quarters of 2025, compared to a net outflow of CNY 908.53 million in 2024[23] Revenue and Costs - Total operating revenue for the first three quarters of 2025 reached ¥2,718,448,586.25, a significant increase from ¥2,041,141,698.02 in the same period of 2024, representing a growth of approximately 33.2%[19] - Total operating costs for the first three quarters of 2025 were ¥2,503,834,445.03, compared to ¥1,723,158,469.40 in 2024, indicating an increase of about 45.2%[19] - The gross profit margin for the first three quarters of 2025 was approximately 7.9%, down from the previous year's margin due to rising costs[19] - Total revenue from sales of goods and services for the first three quarters of 2025 reached CNY 2.72 billion, an increase of 35.66% from CNY 2.01 billion in the same period of 2024[22] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,367[12] - Major shareholder Li Zhibiao holds 34.89% of the shares, followed by Zhu Weili with 22.08%[12] Research and Development - Research and development expenses increased by 30.44 million, reflecting higher investment in R&D[10] - Research and development expenses for the first three quarters of 2025 were ¥96,806,336.22, up from ¥74,213,145.26 in 2024, indicating a growth of about 30.5%[19] Other Financial Metrics - The weighted average return on equity decreased to 1.65%, down 46.69% from the previous year[5] - The weighted average return on net assets for the current reporting period was -46.69%[10] - The company reported non-recurring gains of ¥6,480,570.08 for the period, after accounting for tax effects[7] - Total assets impairment loss amounted to 1,386.72 million, mainly due to equipment impairment provisions[10] - The company raised CNY 310 million in borrowings during the first three quarters of 2025, compared to CNY 300 million in the same period of 2024, indicating a slight increase of 3.33%[23] - Other comprehensive income after tax for the first three quarters of 2025 was CNY 9.97 million, a recovery from a loss of CNY 16.89 million in the same period of 2024[20]

Financial Performance - The company's operating revenue for Q3 2025 was ¥1,502,808,661.65, a decrease of 7.14% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2025 was ¥156,642.15, down 99.30% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥14,403,394.01, a decline of 175.18% compared to the previous year[5] - The basic earnings per share for Q3 2025 was ¥0.00, reflecting a 100.00% decrease from ¥0.02 in Q3 2024[9] - The net profit attributable to shareholders for the first nine months of 2025 was ¥45,272,582.74, down 69.36% from ¥147,744,393.59 in the same period of 2024[9] - Total operating revenue for the period was ¥4,408,336,339.65, a decrease of 7.55% compared to ¥4,768,140,776.70 in the previous period[19] - Net profit for the current period was 44,938,605.22, down 70.4% from 151,865,172.01 in the previous period[21] - Total profit for the current period was 53,087,216.69, down 68.9% from 170,653,619.04 in the previous period[21] Assets and Liabilities - Total assets at the end of Q3 2025 amounted to ¥8,311,305,877.59, a decrease of 1.17% from the end of the previous year[5] - Total assets amounted to ¥8,311,305,877.59, down from ¥8,409,300,146.81, a decrease of 1.16%[17] - Total current assets increased to ¥4,590,115,616.68 from ¥3,865,185,984.77, reflecting a growth of 18.71%[14] - Total non-current assets decreased to ¥3,721,190,260.91 from ¥4,544,114,162.04, a decline of 18.19%[15] - Total liabilities were ¥2,728,245,109.46, a reduction from ¥2,789,998,000.19, indicating a decrease of 2.20%[17] - Total equity attributable to shareholders was ¥5,452,293,578.65, slightly down from ¥5,470,743,315.30, a decrease of 0.34%[17] Cash Flow - The company reported a cash flow from operating activities of ¥114,337,598.54 for the first nine months, a decrease of 18.40% year-on-year[5] - Cash flow from operating activities generated a net amount of 114,337,598.54, a decrease of 18.4% from 140,127,921.62 in the previous period[24] - Cash flow from investment activities resulted in a net outflow of 310,598,863.16, compared to a net outflow of 1,143,695,148.33 in the previous period[25] - Cash and cash equivalents at the end of the period were ¥789,570,480.85, a decrease from ¥1,002,145,201.36 at the beginning of the period[14] - Cash and cash equivalents at the end of the period were 615,728,707.85, slightly down from 621,478,570.67 in the previous period[25] Expenses - Total operating costs amounted to ¥4,428,078,193.98, down 4.49% from ¥4,636,523,504.41 in the prior period[19] - The company reported a decrease in research and development expenses to 163,960,502.27, down from 174,811,035.21 in the previous period[20] - The company experienced a decrease in sales expenses to 282,932,169.30, compared to 277,724,306.42 in the previous period[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 38,592[11] - The company repurchased a total of 11,749,000 shares, representing 0.96% of the total share capital[13] Market and Sales - The company experienced a significant decline in sales volume and selling prices, contributing to the reduced profit margins[9] - Operating revenue for the current period was 5,061,853,257.82, a decrease of 5.8% compared to 5,374,800,668.96 in the previous period[23] - Operating profit decreased to 52,702,151.74, a decline of 69.0% from 170,385,703.10 in the previous period[20] - The company has not disclosed any significant new product developments or market expansion strategies during the reporting period[13]