深圳市景旺电子股份有限公司 2025 年第三季度报告 证券代码：603228 证券简称：景旺电子 深圳市景旺电子股份有限公司 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 | | 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 | 3,987,408,668.33 | 24.19 | 11,0 ...

Financial Performance - The company's operating revenue for the third quarter was ¥158,545,462.11, a decrease of 31.67% compared to the same period last year[3]. - The total profit for the quarter was a loss of ¥51,659,868.08, with a net profit attributable to shareholders of ¥-38,529,860.65, reflecting a significant decline of 1,247.70% year-on-year[3]. - Basic earnings per share for the quarter were ¥-0.48, a decrease of 1,300.00% compared to the same period last year[3]. - Diluted earnings per share for the quarter were ¥-0.46, also reflecting a significant decline of 1,250.00% year-on-year[4]. - The net profit attributable to shareholders of the listed company was CNY -96.97 million, indicating significant operational pressure[13]. - The net profit for the first three quarters of 2025 was a loss of CNY 97.44 million, compared to a loss of CNY 9.84 million in 2024, indicating a significant decline in profitability[22]. - The net profit attributable to the parent company was a loss of ¥96,973,668.38, compared to a loss of ¥9,378,781.57 in the previous year[23]. - The total comprehensive income amounted to -¥65,776,717.71, down from -¥11,336,963.89 year-over-year[23]. - Basic earnings per share were -¥1.20, compared to -¥0.12 in the same period last year[23]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date was ¥-71,262,104.80, indicating ongoing cash flow challenges[3]. - Cash inflows from operating activities totaled ¥506,200,548.72, an increase from ¥444,528,758.18 year-over-year[26]. - Cash outflows from operating activities were ¥577,462,653.52, slightly down from ¥590,387,618.73 in the previous year[26]. - The net cash flow from operating activities was -¥71,262,104.80, improving from -¥145,858,860.55 year-over-year[26]. - Cash inflows from investment activities were ¥1,190,315,849.41, compared to ¥1,069,485,081.06 in the previous year[27]. - The net cash flow from investment activities was -¥164,622,260.48, worsening from -¥91,057,572.06 year-over-year[27]. - Cash inflows from financing activities were ¥14,523,677.44, up from ¥11,184,749.00 in the previous year[27]. - The ending cash and cash equivalents balance was ¥546,659,220.26, down from ¥800,362,258.52 year-over-year[27]. - The total assets increased by 5.37% to ¥2,401,515,563.90 compared to the end of the previous year[4]. - The total current assets as of September 30, 2025, were CNY 1.85 billion, a slight increase from CNY 1.83 billion at the end of 2024[17]. - The total liabilities as of September 30, 2025, amounted to CNY 538.91 million, compared to CNY 381.13 million at the end of 2024, reflecting a 41.5% increase[19]. - The total assets as of September 30, 2025, were CNY 2.40 billion, up from CNY 2.28 billion at the end of 2024[18]. - The company's cash and cash equivalents decreased to CNY 561.21 million from CNY 776.06 million at the end of 2024, a decline of 27.7%[17]. - The company's inventory increased to CNY 324.75 million as of September 30, 2025, compared to CNY 263.20 million at the end of 2024, representing a growth of 23.4%[17]. - The company reported a significant increase in accounts receivable, which rose to CNY 530.55 million from CNY 425.80 million, an increase of 24.6%[17]. Research and Development - Research and development expenses amounted to ¥42,196,716.93, representing 26.61% of operating revenue, an increase of 12.02 percentage points compared to the previous year[4]. - Research and development expenses for the first three quarters of 2025 were CNY 104.24 million, slightly up from CNY 101.20 million in 2024[22]. - The company is committed to maintaining high levels of investment in technological innovation and market development despite the increased operational costs[13]. Market Dynamics and Strategy - The company is in a transitional phase with new and old business dynamics, facing challenges in traditional consumer electronics markets due to insufficient product innovation demand from international major clients[13]. - The company has made breakthroughs in emerging markets such as AI servers and hydrogen energy, but the demand for smart devices in these markets is still in the early stages of ramp-up[13]. - The ADA intelligent platform equipment has begun to achieve bulk shipments in the supply chains of international clients in consumer electronics, AI servers, and automotive sectors[13]. - The company is focusing on market expansion by adhering to a major client strategy and exploring new application scenarios in AI servers, hydrogen energy, automotive electronics, and semiconductors[14]. - To enhance its ability to respond to international trade risks, the company is deepening its overseas market presence and upgrading local operational capabilities[14]. - The company is implementing a Management By Plan (MBP) approach to improve operational efficiency and optimize business structure[14]. - Increased depreciation expenses and asset impairment losses have negatively impacted net profit due to the transition of certain projects to fixed assets[13]. - The company reported an increase in sales and management expenses due to rising employee compensation and travel costs, contributing to the overall loss[9]. - The company experienced a decrease in bank deposit interest income due to lower market interest rates, impacting overall profitability[9].

Financial Performance - The company's operating revenue for Q3 2025 was ¥158,585,567.74, a decrease of 21.08% compared to the same period last year[3] - The total profit for the period was ¥4,574,571.54, down 61.56% year-on-year, primarily due to project delivery delays affecting revenue[9] - The net profit attributable to shareholders was ¥409,014.61, reflecting a significant decline of 95.39% compared to the previous year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥7,091,642.19, a decrease of 10,103.29% year-on-year[9] - Total operating revenue for the first three quarters of 2025 was CNY 508,742,302.24, a decrease of 11.8% compared to CNY 576,706,151.77 in the same period of 2024[23] - The net profit for the first three quarters of 2025 was a loss of CNY 46,456,699.94, compared to a profit of CNY 16,679,116.19 in the same period of 2024[24] - The total comprehensive income for the period was -47,382,707.13 RMB, compared to 17,376,993.81 RMB in the previous period[25] - The company reported a basic and diluted earnings per share of -0.2450 RMB, compared to 0.0862 RMB in the previous period[25] Research and Development - Research and development expenses totaled ¥40,722,616.45, accounting for 25.68% of operating revenue, an increase of 2.96 percentage points from the previous year[4] - Research and development expenses for the first three quarters of 2025 amounted to CNY 121,132,888.93, slightly down from CNY 132,652,472.76 in 2024[24] - The company plans to continue focusing on research and development to enhance its product offerings and market position[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,840,022,852.03, a decrease of 5.57% from the end of the previous year[4] - The company's total assets as of September 30, 2025, were CNY 1,840,022,852.03, compared to CNY 1,948,633,609.09 at the end of 2024[21] - Current liabilities decreased to CNY 755,269,376.67 as of September 30, 2025, from CNY 884,353,683.03 at the end of 2024, a reduction of 14.6%[21] - The total equity attributable to shareholders decreased to CNY 872,946,898.68 as of September 30, 2025, from CNY 906,053,836.69 at the end of 2024[21] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥87,002,683.05, indicating cash flow challenges[4] - The net cash flow from operating activities was -87,002,683.05 RMB, a decline from -38,801,478.34 RMB year-over-year[28] - Cash received from the sale of goods and services was 562,244,272.00 RMB, down from 791,636,311.39 RMB in the previous year[28] - The net cash flow from investing activities was -92,046,907.97 RMB, compared to -46,481,481.02 RMB in the prior year[29] - Cash inflow from financing activities was 342,594,560.00 RMB, an increase from 281,703,873.90 RMB year-over-year[29] - The company's cash and cash equivalents were CNY 219,345,147.15 as of September 30, 2025, down from CNY 318,657,749.04 at the end of 2024[20] - The total cash and cash equivalents at the end of the period were 178,642,392.57 RMB, compared to 95,617,821.14 RMB in the previous year[29] - The company received 39,000,000.00 RMB from investments, significantly higher than 1,550,000.00 RMB in the previous year[29] - The company paid 269,598,643.70 RMB in debt repayments, slightly lower than 274,517,252.14 RMB in the prior year[29] - The company experienced a foreign exchange impact of 204,676.29 RMB on cash and cash equivalents[29] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 12,051, with no preferred shareholders[11] - The actual controller, Wu Minhua, and his action in concert, Ningbo Zhenyou, plan to transfer 9,630,000 shares (5.00% of total share capital) at a price of 22.13 RMB per share, totaling 213,111,900 RMB[16] - The company plans to issue up to 48,138,658 A-shares to specific investors, raising a total of up to 1,069 million RMB[17] Project Contracts - The company signed a purchase and sales contract for a satellite communication project with a total amount of $112,146,918 (excluding tax) on March 2, 2024[14] - The company entered into a framework agreement for the "Congo National Backbone Fiber Broadband Network Project" with a total budget of $1.5 billion (excluding tax) on April 15, 2025[15] Impairment Losses - The company reported a significant increase in asset impairment losses, contributing to the overall decline in profits[9] - The company reported an asset impairment loss of CNY 29,682,482.99 in the first three quarters of 2025, compared to a loss of CNY 15,761,190.93 in 2024[24] - The weighted average return on net assets was 0.05%, a decrease of 7.29 percentage points compared to the previous year[4]

Financial Performance - The company's operating revenue for the third quarter was ¥224,986,946.62, a decrease of 50.83% compared to the same period last year[3]. - The net profit attributable to shareholders was -¥117,165,301.92, with a year-to-date net profit of -¥179,646,146.28, indicating significant losses[3]. - The company experienced a year-to-date revenue decline of 31.86%, primarily due to reduced project acceptance[9]. - Total revenue for the first three quarters of 2025 was CNY 1,227,032,177.75, a decrease of 31.8% compared to CNY 1,800,821,114.20 in the same period of 2024[17]. - The net profit for the first three quarters of 2025 was a loss of CNY 179,646,156.73, compared to a loss of CNY 11,891,619.65 in the same period of 2024, indicating a significant increase in losses[18]. - The basic and diluted earnings per share were both -¥0.92, reflecting ongoing financial challenges[3]. - The company reported a basic and diluted earnings per share of CNY -1.41 for the first three quarters of 2025, compared to CNY -0.09 in the same period of 2024[18]. - Operating profit for the first three quarters of 2025 was a loss of CNY 116,018,049.31, compared to a profit of CNY 4,695,971.79 in the first three quarters of 2024[25]. - Net profit for the first three quarters of 2025 was a loss of CNY 125,339,222.23, compared to a profit of CNY 13,859,980.73 in the same period of 2024[25]. Cash Flow - The net cash flow from operating activities was ¥4,086,091.09, down 98.00% year-on-year, reflecting increased cash payments for goods and services[3][9]. - Cash flow from operating activities generated a net amount of CNY 60,902,686.07 in the first three quarters of 2025, down from CNY 357,726,087.67 in 2024[19]. - Cash flow from investing activities showed a net inflow of CNY 98,942,666.57 in 2025, contrasting with a net outflow of CNY 95,946,093.50 in 2024[20]. - Net cash flow from operating activities was -$422,246,227.60, compared to a positive $191,320,689.64 last year[29]. - Total cash outflow for operating activities was $2,619,865,293.76, compared to $1,649,881,765.92 in the previous period[29]. - Cash paid for purchasing goods and services was $1,754,695,087.65, an increase from $1,274,854,879.57[29]. Assets and Liabilities - Total assets increased by 12.47% to ¥6,962,848,849.26 compared to the end of the previous year[4]. - The total assets increased to CNY 6,962,848,849.26 in 2025 from CNY 6,191,104,639.26 in 2024, marking a growth of 12.5%[15]. - Total liabilities rose to CNY 3,585,478,290.44 in 2025, compared to CNY 2,646,792,472.59 in 2024, reflecting an increase of 35.4%[15]. - Total liabilities as of September 30, 2025, were CNY 2,904,264,162.92, compared to CNY 2,072,267,653.37 as of December 31, 2024[23]. - Current assets totaled CNY 4,905,770,582.74 as of September 30, 2025, up from CNY 4,160,677,379.54 as of December 31, 2024[22]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 10,458[11]. - The largest shareholder, Wuxi Weiziyuan Investment, holds 27 million shares, representing 20.52% of total shares[11]. - The company has not disclosed any changes in the top 10 shareholders due to margin trading activities[13]. - The company has not identified any related party relationships among the other shareholders listed[12]. Research and Development - Research and development expenses totaled ¥36,704,821.89, accounting for 16.31% of operating revenue, an increase of 8.56 percentage points year-on-year[4]. - Research and development expenses for the first three quarters of 2025 were CNY 100,471,481.47, a decrease from CNY 116,337,390.14 in 2024, indicating a reduction of 13.6%[17]. - The company reported a decrease in research and development expenses to CNY 96,912,660.30 in the first three quarters of 2025, down from CNY 107,112,558.06 in the same period of 2024[25]. Inventory and Receivables - The total inventory increased to approximately ¥2.18 billion, compared to ¥1.70 billion, marking a rise of 28.1%[14]. - The company reported an increase in accounts receivable to approximately ¥547.19 million from ¥499.27 million, an increase of 9.6%[14]. - The total amount of long-term receivables increased to approximately ¥42.50 million from ¥37.70 million, a growth of 12.3%[14]. - Inventory as of September 30, 2025, was CNY 1,973,076,140.84, an increase of 26.4% from CNY 1,558,780,974.66 as of December 31, 2024[22].

Financial Performance - The company's operating revenue for Q3 2025 was ¥704,190,334.20, a decrease of 27.05% compared to the same period last year[5] - The total profit for Q3 2025 was ¥1,934,884.32, reflecting a significant decline of 90.87% year-over-year[5] - The net profit attributable to shareholders for Q3 2025 was ¥1,962,901.32, down 83.03% from the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥4,845,793.72, a decrease of 156.29% compared to the same period last year[5] - Basic earnings per share for Q3 2025 were ¥0.0157, down 81.39% year-over-year[6] - Total operating revenue for the first three quarters of 2025 was CNY 1,957,273,810.08, a decrease of 34% compared to CNY 2,966,339,237.28 in the same period of 2024[21] - Net profit for the first three quarters of 2025 was CNY 48,501,452.13, a decline of 43% from CNY 85,049,888.06 in the same period of 2024[22] - The company’s total comprehensive income for the first three quarters of 2025 was CNY 48,502,587.27, down from CNY 85,099,127.27 in 2024[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥10,915,753,537.57, a decrease of 3.24% from the end of the previous year[6] - The total current assets as of September 30, 2025, amount to CNY 9,068,559,826.74, a decrease from CNY 9,507,903,571.56 as of December 31, 2024, reflecting a decline of approximately 4.6%[16] - The total liabilities as of September 30, 2025, are CNY 9,068,559,826.74, compared to CNY 9,507,903,571.56 as of December 31, 2024, indicating a reduction of around 4.6%[17] - The company reported a total liability of CNY 9,246,637,310.17 as of the end of the reporting period, compared to CNY 9,629,085,600.98 in the previous year[18] - The total equity attributable to shareholders of the parent company was CNY 1,552,900,891.96, slightly up from CNY 1,539,284,389.77 in the previous year[18] Cash Flow - The company reported a cash flow from operating activities of ¥165,825,072.94 for the year-to-date period[6] - In the first three quarters of 2025, the net cash flow from operating activities was approximately ¥165.83 million, a significant decline compared to a net outflow of ¥139.75 million in the same period of 2024[24] - Total cash inflow from operating activities for the first three quarters of 2025 was ¥2.96 billion, while cash outflow was ¥2.80 billion, resulting in a net cash flow from operations[24] - Cash inflow from financing activities in the first three quarters of 2025 was approximately ¥4.74 billion, while cash outflow was about ¥4.99 billion, leading to a net cash outflow of ¥254.34 million[25] - The company's cash and cash equivalents at the end of the first three quarters of 2025 stood at approximately ¥1.00 billion, a decrease from ¥953.86 million at the end of the same period in 2024[25] Operational Efficiency - The decline in revenue and profit was primarily due to overall market demand slowdown and intensified industry competition[10] - The company paid approximately ¥209.65 million to employees in the first three quarters of 2025, compared to ¥260.34 million in 2024, reflecting a reduction in labor costs[24] - Research and development expenses for the first three quarters of 2025 were CNY 33,050,873.79, a decrease of 43% from CNY 58,231,044.44 in 2024[21] - The company experienced a credit impairment loss of CNY 94,239,021.73 in the first three quarters of 2025, compared to a gain of CNY 226,535.11 in the same period of 2024[22] Asset Management - The cash and cash equivalents increased to CNY 1,899,721,775.18 from CNY 1,867,382,616.50, showing a growth of about 1.8%[16] - Accounts receivable decreased to CNY 3,925,108,630.44 from CNY 4,012,721,229.23, representing a decline of approximately 2.2%[16] - The company’s short-term borrowings decreased to CNY 2,372,481,860.25 from CNY 2,472,136,573.82, showing a reduction of approximately 4.0%[17] - The company’s inventory increased slightly to CNY 46,604,931.44 from CNY 45,193,399.94, reflecting a growth of about 3.1%[16] - The company reported a significant amount of CNY 2,250,141,696.80 in contract assets as of September 30, 2025, compared to CNY 2,459,614,938.89 at the end of 2024, indicating a decrease of about 8.5%[16] Investment Activities - The cash flow from investment activities showed a net outflow of approximately ¥13.07 million in 2025, compared to a much larger outflow of ¥84.49 million in 2024[25] - The cash flow from investment activities included cash received from the disposal of fixed assets amounting to approximately ¥6.83 million in 2025[25] - The impact of exchange rate fluctuations on cash and cash equivalents was a decrease of ¥5,203.16 in 2025, contrasting with an increase of ¥49,239.21 in 2024[25]

晶科电力科技股份有限公司 2025 年第三季度报告 证券代码：601778 证券简称：晶科科技 晶科电力科技股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 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 | | 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 | 997,885,211.43 | -49.26 | 3,122,0 ...

中国太平洋保险（集团）股份有限公司 CHINA PACIFIC INSURANCE (GROUP) CO., LTD. 2025 年第三季度报告 （股票代码：601601） §1 重要提示 1.1 本公司董事会、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、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 本公司第十届董事会第十八次会议于 2025 年 10 月 30 日审议通过了本公司《2025 年第三季度报告》。应出席会议的董事 13 人，亲自出席会议的董事 12 人。其中，赵永 刚董事因其他公务无法出席会议，书面委托傅帆董事长出席会议并表决。 1.3 本公司 2025 年第三季度报告所载财务资料根据中国企业会计准则编制，且未经审计。 1.4 本公司负责人傅帆先生，主管会计工作负责人苏罡先生及会计机构负责人徐蓁女士保 证本季度报告中财务报告的真实、准确、完整。 | §1 | 重要提示 | 3 | | --- | --- | --- | | §2 | 主要财务数据 3 | | | §3 | 股东信息 | 4 | | §4 | 季度经营分析 5 | | | ...

咸亨国际科技股份有限公司 2025 年第三季度报告 证券代码：605056 证券简称：咸亨国际 咸亨国际科技股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 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、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 | | 年初至报告 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 比上年同 | 年初至报告期末 | 期末比上年 | | | | 期增减变 | | 同期增减变 | | | | 动幅度(%) | | 动幅度(%) | | 营业收入 | 1,111,258,071.04 | 38.02 | ...

Financial Performance - Revenue for Q3 2025 was CNY 344,077,317.65, a decrease of 29.51% compared to the same period last year[4] - Net profit attributable to shareholders was CNY 21,347,114.99, down 52.05% year-on-year[4] - Basic earnings per share decreased by 52.08% to CNY 0.0404[4] - Main business income for the year-to-date was CNY 1,028,379,653.54, a decrease of 33% compared to the previous year[10] - Total operating revenue for the current period is ¥1,035,042,003.76, a decrease of 32.5% compared to ¥1,534,844,925.05 in the previous period[23] - Net profit for the current period is ¥32,382,246.98, a decline of 53.1% from ¥68,921,669.62 in the previous period[24] - The total comprehensive income for the period was CNY 32,117,920.06, a decrease from CNY 63,727,522.79 in the previous period[25] - Basic and diluted earnings per share were both CNY 0.0581, a decrease from CNY 0.1267 in the previous period[25] Assets and Liabilities - Total assets increased by 11.24% to CNY 3,346,167,710.31 compared to the end of the previous year[4] - The company's total assets increased to ¥3,346,167,710.31, compared to ¥3,007,990,249.44 in the previous period, reflecting a growth of 11.3%[22] - Current liabilities rose significantly to ¥458,665,055.50 from ¥110,173,357.22, indicating a substantial increase of 316.5%[22] - The company's total equity decreased slightly to ¥2,799,934,274.43 from ¥2,809,887,864.03, a reduction of 0.3%[22] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 86,637,692.12, a significant decline of 2728% year-on-year[11] - The net cash flow from operating activities was CNY -86,637,692.12, compared to CNY -3,063,331.31 in the previous period, indicating a significant decline[28] - Cash inflow from operating activities totaled CNY 1,298,749,392.40, down from CNY 1,722,154,411.77 in the previous period[28] - Cash outflow from operating activities was CNY 1,385,387,084.52, compared to CNY 1,725,217,743.08 in the previous period[28] - The net cash flow from investing activities was CNY -120,811,774.98, an improvement from CNY -179,963,018.85 in the previous period[28] - Cash inflow from investing activities was CNY 372,527,273.71, significantly higher than CNY 32,162,076.08 in the previous period[28] - Cash outflow from investing activities increased to CNY 493,339,048.69 from CNY 212,125,094.93 in the previous period[28] - The net cash flow from financing activities was CNY 6,400,096.57, recovering from CNY -30,984,350.93 in the previous period[28] - The ending cash and cash equivalents balance was CNY 583,420,488.57, down from CNY 773,936,050.84 in the previous period[28] Investments and Acquisitions - The company acquired two plots of state-owned land use rights for a total of RMB 165 million, which has been fully paid[16] - The company plans to construct two gas stations on the acquired land, with potential uncertainties in project implementation and operational efficiency[16] - The company has invested RMB 1 billion in the Shenzhen Tongchuan New Materials Venture Capital Fund, which has completed investments in 11 projects totaling RMB 324 million[17] - The company has also invested RMB 50 million in the Shenzhen Guangju Fubao Advanced Industry Venture Capital Fund, which has completed investments in 2 projects[18] Shareholder Information - The company has a major shareholder, Shenzhen Guangju Investment Holding Group Co., Ltd., holding 55.54% of shares[14] - The second-largest shareholder is the National Social Security Fund, holding 2.84% of shares[14] Management and Governance - The company has experienced a change in its board of directors, with the resignation of a board member due to work reasons[17] - The company is actively monitoring and managing its investments in various funds to protect its investment rights[17][18] Operational Efficiency - The company reported a significant increase in prepayments to suppliers, totaling CNY 147,347,450.04, due to the consolidation of a subsidiary[8] - The company’s short-term borrowings increased by 1034% to CNY 113,399,108.91, primarily to support the subsidiary's operations[9] - The company recorded a significant increase in other receivables, up 2354% to CNY 146,228,385.36, attributed to the consolidation of a subsidiary[8] - Research and development expenses were reported as zero, suggesting a potential area for future investment to drive growth[24] - The company has not disclosed any new product launches or technological advancements during this reporting period[23] - The company reported a significant increase in accounts receivable, rising to ¥24,953,900.02 from ¥38,962,717.15, indicating a potential liquidity concern[21]

Financial Performance - The company's revenue for Q3 2025 was approximately ¥391.74 million, representing a year-over-year decline of 38.62%[4] - The total profit for the period was a loss of approximately ¥5.96 million, a decrease of 118.17% compared to the previous year[4] - The net profit attributable to shareholders was a loss of approximately ¥4.64 million, down 114.48% year-over-year[4] - Total operating revenue for the first three quarters of 2025 was CNY 1,353,229,603.25, a decrease of 21.3% compared to CNY 1,719,599,203.83 in the same period of 2024[23] - The net loss for the first three quarters of 2025 was CNY 144,513,784.05, compared to a net profit of CNY 23,897,962.51 in the same period of 2024[24] - The company's operating profit for the first three quarters of 2025 was a loss of CNY 54,613,848.24, contrasting with a profit of CNY 39,793,514.97 in 2024[23] - The company reported a total comprehensive loss of CNY 141,389,909.62 for the first three quarters of 2025, compared to a comprehensive income of CNY 26,819,790.79 in 2024[24] Research and Development - Research and development expenses totaled approximately ¥55.89 million, accounting for 14.27% of revenue, an increase of 4.8 percentage points from the previous year[4] - Research and development expenses increased to CNY 180,691,624.27 in 2025 from CNY 172,023,725.41 in 2024, indicating a rise of 5.7%[23] - The company launched two AR glasses optical engines and two visible light underwater LiDAR products at the 26th China International Optoelectronic Expo, receiving significant industry attention[10] - The "Dragonfly G1" AR optical engine features an industry-first "one-to-two" design, while the "Rainbow C1" supports both monocular and binocular AR display solutions[11] - The "Distant View D10" is the industry's first consumer-grade visible light underwater LiDAR, enhancing underwater measurement capabilities to 10 meters[11] Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥3.84 billion, a decrease of 9.66% from the previous year[5] - The total liabilities decreased to CNY 1,372,684,893.23 in 2025 from CNY 1,585,782,677.96 in 2024, a reduction of 13.4%[20] - The total assets decreased to CNY 3,844,641,534.07 in 2025 from CNY 4,255,663,351.00 in 2024, reflecting a decline of 9.7%[20] - The company's equity attributable to shareholders decreased to CNY 2,575,643,704.87 in 2025 from CNY 2,740,047,895.12 in 2024, a decrease of 6.0%[20] Shareholder Information - Total number of common shareholders at the end of the reporting period is 16,205[13] - The largest shareholder, Shenzhen Guangfeng Holdings Co., Ltd., holds 79,762,679 shares, accounting for 17.37% of total shares[13] - The company has a total of 79,762,679 unrestricted circulating shares held by the largest shareholder[14] - The company has not reported any significant changes in shareholder relationships or actions during the reporting period[14] Cash Flow - The net cash flow from operating activities was not applicable for the current period, but was approximately ¥149.62 million for the previous year[4] - Cash inflow from operating activities for the first three quarters of 2025 was approximately $1.74 billion, compared to $1.85 billion in the same period of 2024, reflecting a decrease of about 6.06%[28] - Net cash flow from operating activities increased to approximately $149.62 million in 2025 from $71.52 million in 2024, representing an increase of about 109.06%[28] - Cash inflow from investment activities totaled approximately $1.70 billion in 2025, up from $1.22 billion in 2024, marking an increase of about 39.2%[29] - Net cash flow from investment activities was negative at approximately -$507.86 million in 2025, compared to -$161.39 million in 2024, indicating a worsening of investment cash flow[29] - Cash inflow from financing activities was approximately $203.52 million in 2025, compared to $141.34 million in 2024, an increase of about 43.93%[29] - Net cash flow from financing activities was negative at approximately -$44.58 million in 2025, improving from -$261.97 million in 2024[29] - The ending cash and cash equivalents balance for 2025 was approximately $921.27 million, slightly down from $942.80 million in 2024[29] - The company received approximately $1.68 billion from investment recoveries in 2025, compared to $1.19 billion in 2024, reflecting a significant increase[29] - The company reported a cash outflow of approximately $2.21 billion from investment activities in 2025, compared to $1.38 billion in 2024, indicating increased investment expenditures[29] - The company experienced a negative impact of approximately -$2.44 million from exchange rate fluctuations on cash and cash equivalents in 2025[29] Financial Statements - The financial statements are unaudited as of September 30, 2025[15] - The weighted average return on net assets was -0.18%, a decrease of 1.34 percentage points compared to the previous year[4] - Total current assets amount to RMB 2,481,213,643.59, a decrease from RMB 2,955,806,569.15 in the previous period[18] - Cash and cash equivalents are reported at RMB 1,175,282,364.36, down from RMB 1,654,769,306.21[18] - Inventory stands at RMB 458,673,379.94, compared to RMB 595,519,245.19 previously[18] - Long-term equity investments are valued at RMB 6,700,103.46, slightly up from RMB 6,242,039.74[18] - Fixed assets have increased to RMB 641,146,997.14 from RMB 272,101,764.36[18]