Financial Performance - Revenue for the third quarter was ¥177,572,144.62, a decrease of 25.76% compared to the same period last year[4] - Total profit for the quarter was ¥2,544,527.05, down 83.22% year-over-year[4] - Net profit attributable to shareholders was ¥1,023,644.23, reflecting a decline of 91.14% compared to the previous year[4] - The basic earnings per share for the quarter was ¥0.004, a decrease of 92.00% year-over-year[5] - Total operating revenue for the first three quarters of 2025 was RMB 752,877,844, a decrease of 10.8% compared to RMB 844,461,428 in the same period of 2024[16] - Net profit for the first three quarters of 2025 was RMB 59,774,628.97, a decrease of 9.9% from RMB 65,980,633.73 in 2024[16] - Basic and diluted earnings per share for the first three quarters of 2025 were both RMB 0.21, compared to RMB 0.23 in the same period of 2024[17] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,374,530,189.68, a decrease of 0.68% from the end of the previous year[5] - Total current assets as of September 30, 2025, were RMB 897,082,097.44, slightly down from RMB 916,678,908.34 at the end of 2024[14] - Total liabilities as of September 30, 2025, were RMB 169,560,128.52, a decrease from RMB 204,359,564.37 at the end of 2024[14] - Total assets as of September 30, 2025, were RMB 1,374,530,189.68, compared to RMB 1,383,889,809.13 at the end of 2024[14] - The company reported a decrease in accounts receivable from RMB 62,989,123.90 in 2024 to RMB 45,561,337.80 in 2025[14] - The company’s long-term equity investments increased from RMB 41,288,641.74 in 2024 to RMB 65,295,772.97 in 2025[14] Cash Flow - Cash flow from operating activities for the year-to-date was ¥163,591,253.46, an increase of 7.00%[5] - Net cash flow from operating activities was $163.59 million, an increase of 7.5% compared to $152.89 million in the previous period[20] - Total cash inflow from investment activities was $489.62 million, a decrease of 3.8% from $507.53 million in the previous period[20] - Net cash flow from investment activities was -$138.05 million, compared to a positive $33.69 million in the previous period[20] - Cash inflow from financing activities totaled $10 million, down from $24.8 million in the previous period, representing a decline of 59.8%[20] - Net cash flow from financing activities was -$35.30 million, compared to -$29.33 million in the previous period[20] - The ending cash and cash equivalents balance was $329.68 million, down from $366.38 million in the previous period[20] Operating Activities - The company reported a significant decline in sales as the primary reason for the drop in profits[8] - Cash received from sales of goods and services in the first three quarters of 2025 was RMB 867,737,181.18, an increase from RMB 782,785,937.84 in 2024[19] - Cash outflow for purchasing goods and services was $502.03 million, an increase of 2.5% from $490.31 million in the previous period[20] - Cash paid for employee compensation was $43.47 million, a decrease of 4.4% compared to $45.37 million in the previous period[20] - Cash paid for taxes was $47.29 million, an increase of 76.5% from $26.87 million in the previous period[20] - Cash received from other operating activities was $30.39 million, a decrease of 4.5% from $31.84 million in the previous period[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,675[10] - Non-recurring gains and losses totaled ¥2,317,566.38 for the quarter[7]

Financial Performance - The company's operating revenue for Q3 2025 was CNY 2,430,175,136.44, a decrease of 7.13% year-on-year, and for the year-to-date period, it was CNY 8,087,736,989.07, down 22.49% compared to the same period last year[2] - The total profit for Q3 2025 was CNY 49,155,246.11, reflecting a decline of 29.13%, while the year-to-date total profit was CNY 247,029,653.67, down 62.90% year-on-year[2] - The net profit attributable to shareholders for Q3 2025 was CNY 27,107,991.06, a decrease of 46.28%, and for the year-to-date period, it was CNY 165,905,306.72, down 69.56% compared to the previous year[2] - The basic earnings per share for Q3 2025 was CNY 0.05, a decline of 44.44%, and for the year-to-date period, it was CNY 0.30, down 69.39% year-on-year[2] - Total operating revenue for the first three quarters of 2025 was ¥8,087,736,989.07, a decrease of 22.5% compared to ¥10,433,818,061.19 in the same period of 2024[19] - Net profit for the first three quarters of 2025 was ¥163,704,180.97, a decline of 70.4% compared to ¥551,755,594.95 in 2024[20] - Earnings per share for the first three quarters of 2025 was ¥0.30, down from ¥0.98 in the same period of 2024[21] Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 14,222,253,668.62, an increase of 1.17% compared to the end of the previous year[3] - Total assets increased to ¥14,222,253,668.62 in 2025 from ¥14,057,759,232.64 in 2024, reflecting a growth of 1.2%[16] - Total liabilities rose to ¥10,547,445,530.29 in 2025, compared to ¥10,424,314,127.00 in 2024, indicating an increase of 1.2%[16] - Non-current liabilities totaled ¥1,172,941,881.50 in 2025, up from ¥1,068,831,924.24 in 2024, representing a growth of 9.7%[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 61,141[8] - The largest shareholder, Taiji Group Co., Ltd., holds 27.89% of the shares, with 36,340,000 shares pledged[8] Cash Flow and Investments - The company's cash and cash equivalents decreased to RMB 577,653,584.84 from RMB 811,623,216.66, reflecting a decline of approximately 29%[14] - In the first three quarters of 2025, the net cash flow from operating activities was ¥166,372,623.71, a significant improvement compared to a net outflow of ¥690,343,647.89 in the same period of 2024[23] - Total cash inflow from operating activities for the first three quarters of 2025 was ¥7,182,275,366.30, down from ¥9,429,914,310.14 in 2024, indicating a decrease of approximately 23.7%[23] - Cash outflow from operating activities decreased to ¥7,015,902,742.59 in 2025 from ¥10,120,257,958.03 in 2024, representing a reduction of about 30.8%[23] - The net cash flow from investing activities was -¥314,927,960.79 in 2025, an improvement from -¥605,582,592.44 in 2024[24] - Cash inflow from investing activities totaled ¥81,351,936.21 in 2025, compared to ¥8,849,570.21 in 2024, showing a substantial increase[24] - Cash outflow from investing activities decreased to ¥396,279,897.00 in 2025 from ¥614,432,162.65 in 2024, a decline of approximately 35.5%[24] - The net cash flow from financing activities was -¥6,941,400.61 in 2025, contrasting with a positive net flow of ¥208,156,581.48 in 2024[24] - Total cash inflow from financing activities was ¥3,782,193,094.06 in 2025, up from ¥3,323,537,143.20 in 2024, indicating an increase of about 13.8%[24] - The ending cash and cash equivalents balance for 2025 was ¥525,291,918.52, a slight decrease from ¥565,114,105.54 in 2024[24] Operational Insights - The net profit excluding non-recurring gains and losses for Q3 2025 was CNY -28,909,634.74, a significant decrease of 194.36% year-on-year, primarily due to a decline in operating revenue and increased advertising expenses[4] - The company reported non-recurring gains of CNY 56,017,625.80 for the current period, with a year-to-date total of CNY 75,066,977.01[5] - The company is focusing on market expansion and new product development strategies to enhance its competitive position[10] - The company is actively working with China National Pharmaceutical Group to resolve competition issues, with commitments in place until April 14, 2026[12] - The company completed a share buyback of 5,472,559 shares, accounting for 0.98% of the total share capital, with a total expenditure of RMB 120 million[11] - The company’s registered capital decreased from RMB 556,890,744 to RMB 551,418,185 following the share buyback[11] - The company has a long-term equity investment valued at RMB 11,967,077.82, down from RMB 12,524,290.69[14] - The company reported research and development expenses of ¥195,484,554.02 for the first three quarters of 2025, slightly up from ¥187,490,437.20 in 2024[20] Accounting Standards - The company will not apply new accounting standards starting from 2025, as stated in the announcement[25]

Financial Performance - The company's revenue for Q3 2025 was CNY 2,541,712,604.50, a decrease of 2.96% compared to the same period last year[6] - The total profit for the period was CNY 398,345,525.38, down 5.81% year-on-year[6] - Net profit attributable to shareholders was CNY 374,043,930.88, an increase of 6.71% compared to the previous year[6] - The company's total revenue for the first three quarters of 2025 was RMB 8.28 billion, down from RMB 8.55 billion in the same period of 2024, representing a decline of about 3.13%[18] - Operating profit for the first three quarters of 2025 was RMB 1.59 billion, slightly up from RMB 1.59 billion in the same period of 2024, indicating stable performance[18] - The total profit for the first three quarters of 2025 is approximately CNY 1.62 billion, slightly up from CNY 1.62 billion in the same period of 2024, reflecting a marginal increase of 0.03%[19] - Net profit for the first three quarters of 2025 is CNY 1.39 billion, down from CNY 1.41 billion in 2024, indicating a decrease of about 2.5%[19] - The company reported a net profit margin of approximately 19.19% for the first three quarters of 2025, consistent with the previous year's performance[18] Earnings and Shareholder Information - Basic earnings per share for the quarter were CNY 0.3600, up 6.82% year-on-year[6] - The basic earnings per share for the first three quarters of 2025 is CNY 1.3077, compared to CNY 1.3596 in 2024, representing a decline of approximately 3.8%[19] - Shareholder equity attributable to the parent company increased by 8.75% to CNY 11,318,550,040.76[7] - The company had a total of 57,726 ordinary shareholders at the end of the reporting period[12] - The company's equity attributable to shareholders increased to RMB 11.32 billion as of September 30, 2025, compared to RMB 10.41 billion at the end of 2024, an increase of about 8.74%[17] Cash Flow and Assets - The net cash flow from operating activities decreased by 21.62% to CNY 1,147,181,437.63 year-to-date[6] - Cash flow from operating activities for the first three quarters of 2025 is CNY 1.15 billion, down from CNY 1.46 billion in 2024, a decrease of about 21.5%[20] - Cash inflow from investment activities in the first three quarters of 2025 is CNY 661.79 million, significantly lower than CNY 1.72 billion in 2024, a decline of approximately 61.5%[21] - Cash flow from financing activities for the first three quarters of 2025 shows a net outflow of CNY 1.26 billion, compared to a net outflow of CNY 3.07 billion in 2024, indicating an improvement in cash flow management[21] - The company's cash and cash equivalents as of September 30, 2025, were RMB 2.22 billion, down from RMB 2.85 billion at the end of 2024, a decrease of about 22.05%[15] - The ending cash and cash equivalents balance as of September 2025 is CNY 2.21 billion, down from CNY 2.70 billion at the end of September 2024, a decrease of about 18.1%[21] Assets and Liabilities - Total assets at the end of the period were CNY 17,013,714,914.48, reflecting a 1.96% increase from the end of the previous year[7] - As of September 30, 2025, total assets amounted to RMB 17.01 billion, an increase from RMB 16.69 billion as of December 31, 2024[16] - Total liabilities decreased to RMB 4.85 billion as of September 30, 2025, compared to RMB 5.57 billion at the end of 2024, reflecting a reduction of approximately 12.96%[17] Research and Development - Research and development expenses for the first three quarters of 2025 were RMB 371 million, a decrease of approximately 21.43% from RMB 473 million in the same period of 2024[18] Inventory and Operating Expenses - The company's inventory as of September 30, 2025, was RMB 1.64 billion, slightly up from RMB 1.59 billion at the end of 2024, reflecting an increase of approximately 6.67%[15] - The company has incurred operating expenses of CNY 8.29 million in the first three quarters of 2025, compared to CNY 6.91 million in 2024, reflecting an increase of about 19.9%[19] Strategic Developments - The company acquired a 53.28% stake in Henan Zhongshuai Pharmaceutical Technology Co., Ltd. for a transaction amount of RMB 348 million, completed on September 28, 2025, and included in the consolidated financial statements from that date[14] - The company has not indicated any new product launches or significant market expansion strategies during this reporting period[22]

天士力医药集团股份有限公司 2025 年第三季度报告 证券代码：600535 证券简称：天士力 天士力医药集团股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 公司董事会、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。 公司负责人蔡金勇先生、主管会计工作负责人魏洁女士及会计机构负责人（会计主管人员） 林勇志先生保证季度报告中财务信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一）主要会计数据和财务指标 1 / 16 单位：元 币种：人民币 项目 本报告期 本报告期比 上年同期增 减变动幅度 (%) 年初至报告期末 年初至报告期 末比上年同期 增减变动幅度 (%) 营业收入 2,022,464,001.07 -3.27 6,310,672,857.39 -2.35 利润总额 248,134,735.12 21.62 1,152,753,398.51 ...

Financial Performance - The company's operating revenue for the third quarter reached CNY 12,822,943,815.96, an increase of 39.27% compared to the same period last year[5] - Total profit for the quarter was CNY 1,369,660,248.90, reflecting a significant increase of 92.95% year-on-year[5] - Net profit attributable to shareholders was CNY 809,588,051.80, up 109.85% from the previous year[5] - The basic earnings per share for the quarter was CNY 0.5099, representing an increase of 86.98% year-on-year[5] - For the first three quarters of 2025, the company achieved consolidated operating revenue of RMB 32 billion, a year-on-year increase of 21.36%; net profit attributable to shareholders was RMB 1.782 billion, up 27.05%[14] - Total revenue for the first three quarters of 2025 reached ¥32,000,882,869.43, a 21.8% increase from ¥26,369,085,913.45 in the same period of 2024[23] - Operating profit for the first three quarters of 2025 was ¥3,087,742,512.91, compared to ¥2,608,089,148.75 in 2024, reflecting a growth of 18.4%[24] - Net profit attributable to shareholders for the first three quarters of 2025 was ¥1,781,787,324.47, up from ¥1,402,388,931.27 in 2024, marking a 27% increase[25] - The total comprehensive income of ¥2,626,292,272.31 for the first three quarters of 2025, compared to ¥2,219,429,043.69 in 2024, marking an increase of 18.3%[25] Asset and Liability Management - The total assets of the company at the end of the reporting period were CNY 50,373,325,567.93, a growth of 10.80% from the end of the previous year[6] - Total assets increased to ¥50,373,325,567.93 in 2025 from ¥45,463,760,382.89 in 2024, representing an increase of 8.4%[21] - Total liabilities rose to ¥24,799,684,075.88 in 2025, compared to ¥21,112,734,443.78 in 2024, indicating a growth of 17.5%[21] - The total assets as of September 30, 2025, were CNY 22.92 billion, an increase from CNY 22.09 billion at the end of 2024[29] - Total liabilities rose to CNY 11.81 billion, compared to CNY 11.34 billion in the previous year[30] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date was CNY 2,445,294,327.16, reflecting a growth of 6.64%[5] - Cash inflow from operating activities for the first three quarters of 2025 reached CNY 28.41 billion, a 24.5% increase from CNY 22.82 billion in the same period of 2024[27] - Net cash flow from operating activities was CNY 2.45 billion, up 6.7% from CNY 2.29 billion year-over-year[28] - Cash inflow from investment activities totaled CNY 3.13 billion, compared to CNY 2.48 billion in the previous year, marking a 26.1% increase[28] - Net cash flow from investment activities was negative at CNY -1.65 billion, worsening from CNY -1.26 billion in the prior year[28] - Cash inflow from financing activities amounted to CNY 4.70 billion, slightly up from CNY 4.65 billion in 2024[28] - Net cash flow from financing activities decreased to CNY -1.95 billion from CNY -0.46 billion, indicating increased cash outflows[28] Business Segment Performance - The tungsten and molybdenum business generated operating revenue of RMB 14.568 billion, reflecting a year-on-year growth of 11.47%, with total profit reaching RMB 2.325 billion, up 20.13%[15] - The new energy materials business reported operating revenue of RMB 13.059 billion, a 29.80% increase year-on-year, with total profit of RMB 612 million, up 48.93%[15] - The rare earth business achieved operating revenue of RMB 4.333 billion, a year-on-year increase of 35.27%, with total profit of RMB 185 million, up 2.74%[16] - The real estate business recorded operating revenue of RMB 40 million, a year-on-year increase of 15.19%, but total profit decreased by RMB 62 million compared to the previous year[16] Shareholder Information - The company reported a total of 120,883 common shareholders at the end of the reporting period[12] Research and Development - Research and development expenses for the first three quarters of 2025 were ¥1,179,522,211.63, an increase from ¥1,094,719,042.74 in 2024, reflecting a growth of 7.8%[24] - Research and development expenses increased to ¥107,352,858.98, up from ¥92,342,615.85 in the previous year, highlighting the company's commitment to innovation[32]

Financial Performance - The company's operating revenue for the third quarter reached ¥858,784,673.30, representing a year-on-year increase of 49.80%[5] - The total profit for the period was ¥61,347,651.42, showing a slight decrease of 1.88% compared to the same period last year[5] - The net profit attributable to shareholders was ¥7,118,270.16, reflecting a significant decline of 70.50% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥6,987,877.58, down 70.03% from the previous year[5] - Basic earnings per share for the quarter were ¥0.01, a decrease of 50.00% compared to the same period last year[6] - Net profit for the first three quarters of 2025 was ¥91,258,492.58, representing a 34.1% increase from ¥68,057,945.31 in 2024[20] - Earnings attributable to shareholders of the parent company for the first three quarters of 2025 were ¥63,792,075.70, down 19.6% from ¥79,366,150.76 in 2024[21] - Operating income for the first three quarters of 2025 was CNY 16,213,047.04, a decrease of 13.9% compared to CNY 18,799,107.80 in the same period of 2024[28] - The total profit for the current period is 39,830,522.80 CNY, down from 210,722,428.04 CNY, indicating a decrease of about 81.1%[29] - The net profit for the current period is 39,830,522.80 CNY, compared to 210,722,428.04 CNY in the previous period, representing a decline of approximately 81.1%[29] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥27,463,258,526.52, a decrease of 4.75% from the end of the previous year[6] - Total current assets as of September 30, 2025, amounted to ¥20,307,438,501.85, a decrease from ¥22,321,351,798.36 at the end of 2024[16] - Total liabilities as of September 30, 2025, were ¥9,316,703,296.91, down from ¥10,156,785,372.95[17] - The total liabilities decreased from ¥17,714,401,379.24 in the previous period to ¥16,283,611,027.66[18] - Total liabilities decreased to CNY 7,112,570,962.70 from CNY 7,264,104,318.36 at the end of the previous year[27] - The company's total assets were CNY 13,641,657,287.58, down from CNY 13,773,150,664.18 at the end of 2024[27] Cash Flow - The operating cash flow for the year-to-date was negative at -¥523,483,109.91, indicating cash outflows from operating activities[5] - Cash generated from operating activities in the first three quarters of 2025 was ¥2,499,457,230.49, compared to ¥1,858,596,769.85 in 2024, indicating a growth of 34.4%[22] - Net cash flow from operating activities was negative at CNY -523,483,109.91, an improvement from CNY -1,226,183,232.35 in the previous year[24] - Cash inflow from financing activities totaled CNY 3,680,760,626.33, a decrease of 29.0% compared to CNY 5,196,598,481.12 in the prior year[24] - Cash outflow from financing activities was CNY 4,467,319,056.77, slightly down from CNY 4,811,530,401.43 year-over-year[24] - The company's cash flow from operating activities shows a net outflow of -20,775,436.59 CNY, an improvement from -24,595,733.27 CNY in the previous year[31] Shareholder Information - Total number of common shareholders at the end of the reporting period was 27,790[12] - The largest shareholder, Changgao New Group Co., Ltd., holds 522,662,086 shares, representing 50.64% of total shares[12] - The second-largest shareholder, Changzhou State-owned Assets Investment and Operation Co., Ltd., holds 96,458,412 shares, representing 9.35%[12] - The company has no significant changes in the top ten shareholders or their participation in margin financing and securities lending[13] Other Financial Metrics - The increase in operating revenue was primarily driven by the real estate market and project delivery cycles, along with increased construction output[10] - The decline in net profit was mainly due to reduced interest income and adjustments in land value-added tax calculations compared to the previous year[10] - The company reported a financial expense reduction, with interest expenses decreasing from ¥156,291,424.74 in 2024 to ¥125,827,214.42 in 2025[20] - The company's other comprehensive income after tax for the first three quarters of 2025 was ¥10,627,940.03, a decrease from ¥182,397,836.09 in 2024[21] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.06, down from ¥0.08 in 2024[21] - The company reported other comprehensive income after tax of 22,522,500.00 CNY, a decrease from 183,397,500.00 CNY in the previous period[29] - The company has not adopted new accounting standards for the current reporting period[33]

Financial Performance - The company's operating revenue for Q3 2025 was ¥1,061,884,596.85, a decrease of 14.20% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2025 was ¥86,172,381.72, an increase of 48.79% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥83,717,834.65, up 56.22% from the previous year[5]. - The basic earnings per share for Q3 2025 was ¥0.21, representing a 50.00% increase compared to the same period last year[5]. - Net profit for the period was ¥94,210,043.29, down from ¥142,353,096.88, reflecting a decline of approximately 33.8% year-over-year[22]. - The net profit attributable to shareholders of the parent company was ¥80,504,214.59, compared to ¥140,518,458.80, a decrease of around 42.7% year-over-year[22]. - Total comprehensive income amounted to ¥94,210,043.29, a decrease from ¥142,353,096.88 in the previous period[23]. - Basic and diluted earnings per share were both ¥0.20, down from ¥0.34 year-over-year[23]. Assets and Liabilities - The total assets at the end of the reporting period were ¥7,398,142,392.05, a decrease of 4.05% from the end of the previous year[5]. - The company's total current assets amount to ¥3,327,033,167.54, a decrease from ¥3,426,784,261.17 at the beginning of the period[19]. - Total liabilities decreased to ¥3,738,979,002.92 from ¥4,054,960,634.93, a reduction of approximately 7.8%[20]. - Non-current liabilities decreased to ¥1,076,683,973.65 from ¥1,260,198,788.98, a decline of about 14.5%[20]. - Current liabilities totaled ¥2,662,295,029.27, down from ¥2,794,761,845.95, indicating a decrease of approximately 4.7%[20]. - The company's total equity increased slightly to ¥3,659,163,389.13 from ¥3,655,270,907.45, showing a marginal growth of about 0.1%[20]. - The company's total liabilities decreased by 4.05% compared to the previous year-end, reflecting improved financial stability[5]. Cash Flow - The cash flow from operating activities for the year-to-date was ¥365,421,045.25, down 29.09% year-on-year[5]. - Net cash flow from operating activities was ¥365,421,045.25, a decline of 29% compared to ¥515,363,859.89 in the prior period[24]. - Cash inflow from operating activities totaled ¥3,624,706,166.66, down 19% from ¥4,495,370,083.97[24]. - Cash outflow from operating activities was ¥3,259,285,121.41, a decrease from ¥3,980,006,224.08[24]. - Net cash flow from investing activities was -¥23,607,484.64, an improvement from -¥59,350,368.21 in the previous period[24]. - Cash inflow from financing activities was ¥519,500,000.00, down from ¥606,600,000.00 year-over-year[24]. - Net cash flow from financing activities was -¥132,059,199.14, compared to -¥1,321,716,880.49 in the prior period[24]. - The ending balance of cash and cash equivalents increased to ¥1,542,989,166.16 from ¥1,134,688,229.88[24]. - Cash and cash equivalents increased to ¥1,662,383,509.59 from ¥1,509,608,004.59[18]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 15,822[16]. - The largest shareholder, Xiao Hua, holds 30.60% of shares, totaling 125,080,560 shares[16]. - The top 10 shareholders collectively hold 63.74% of the company's shares, indicating significant ownership concentration[17]. - The total number of preferred shareholders at the end of the reporting period is not applicable[18]. Operational Costs and Expenses - Total operating revenue decreased to ¥2,977,020,937.30 from ¥3,572,173,750.32, representing a decline of approximately 16.6% year-over-year[21]. - Total operating costs reduced to ¥2,829,908,405.53 from ¥3,387,159,287.65, a decrease of about 16.4% year-over-year[21]. - Research and development expenses were ¥109,469,885.66, down from ¥136,079,863.09, a decrease of approximately 19.5% year-over-year[22]. - The company reported a financial expense of ¥34,954,444.73, down from ¥59,345,969.42, reflecting a decrease of about 41.2% year-over-year[22]. - The company reported a significant decrease in financial expenses by 41.10% due to reduced interest expenses[12]. Inventory and Goodwill - Inventory decreased to ¥891,371,203.85 from ¥1,003,528,336.03, indicating a reduction of approximately 11.2%[19]. - The company has a goodwill of ¥8,123,257.36, unchanged from the previous period[19]. Audit Status - The third quarter financial report was not audited[25].

Financial Performance - The company's operating revenue for the third quarter reached CNY 3,065,970,750.30, representing a year-on-year increase of 16.55%[4] - The total profit for the quarter was CNY 513,869,000.69, reflecting a significant increase of 51.19% compared to the same period last year[4] - The net profit attributable to shareholders was CNY 441,009,034.75, up 53.12% year-on-year, while the net profit excluding non-recurring gains and losses increased by 71.73%[4] - The basic earnings per share for the quarter were CNY 0.64, an increase of 52.38% compared to the previous year[5] - The company achieved operating revenue of approximately CNY 3.066 billion and a net profit attributable to shareholders of about CNY 441 million, representing a year-on-year growth of 53.12%[13] - For the period from January to September 2025, the company reported cumulative operating revenue of approximately CNY 7.438 billion, an increase of 11.20% year-on-year[13] - Total operating revenue for the first three quarters of 2025 reached ¥7,498,249,514.52, an increase of 11.94% compared to ¥6,698,764,812.22 in the same period of 2024[20] - Net profit for the first three quarters of 2025 was ¥913,972,019.61, a slight decrease of 1.54% from ¥932,116,936.42 in 2024[21] - The company reported a total profit of ¥1,055,902,795.24 for the first three quarters of 2025, down from ¥1,084,651,248.64 in 2024[21] Revenue and Order Backlog - The revenue from high-value-added submarine cables grew significantly, with total revenue from submarine and high-voltage cables reaching CNY 3.549 billion, a year-on-year increase of 35.8%[9] - The company has a backlog of orders amounting to approximately CNY 19.551 billion as of October 23, 2025, with significant contributions from power engineering and equipment cables at CNY 3.886 billion and submarine cables at CNY 11.737 billion[13] Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 13,973,963,880.34, marking a 14.78% increase from the end of the previous year[5] - The total assets and shareholders' equity amounted to ¥13,973,963,880.34 and ¥7,666,874,406.96 respectively, showing growth from ¥12,174,317,850.18 and ¥6,861,700,414.06 in the previous year[22] - The company’s non-current assets totaled CNY 3.915 billion, up from CNY 3.654 billion year-on-year[15] - The company reported a decrease in accounts payable to CNY 954.92 million from CNY 1.205 billion year-on-year[16] - The company’s inventory increased significantly to CNY 3.627 billion from CNY 1.834 billion year-on-year[15] - The company reported total liabilities amounted to CNY 6.307 billion, an increase from CNY 5.313 billion in the previous year[16] Cash Flow - The company reported cash flows from operating activities of CNY 323,053,765.17 for the year-to-date, reflecting a growth of 13.35%[5] - The net cash flow from operating activities for the first three quarters of 2025 was ¥323,053,765.17, compared to ¥285,007,583.50 in 2024, reflecting an increase of 13.33%[24] - The company received cash from sales of goods and services amounting to ¥7,619,398,809.09 in the first three quarters of 2025, an increase from ¥5,993,160,650.15 in 2024[24] - Cash outflow from investment activities totaled approximately $556.27 million, compared to $530.05 million in the previous period, resulting in a net cash flow from investment activities of -$556.24 million, up from -$460.08 million[25] - Cash inflow from financing activities was $304.19 million, a significant decrease from $764.82 million in the prior period, leading to a net cash flow from financing activities of -$675.17 million, compared to -$138.96 million previously[25] - The net increase in cash and cash equivalents was -$896.44 million, compared to -$321.50 million in the previous period, resulting in an ending cash balance of approximately $1.58 billion[25] Shareholder Information - The equity attributable to shareholders was CNY 7,666,874,406.96, which is an increase of 11.73% compared to the previous year[5] - The total number of ordinary shareholders at the end of the reporting period was 28,793[10] - The largest shareholder, Ningbo Dongfang Group Co., Ltd., holds 31.63% of the shares, totaling 217,524,444 shares[11] Research and Development - Research and development expenses for the first three quarters of 2025 were ¥240,938,522.99, slightly up from ¥237,204,584.26 in 2024[20] Other Comprehensive Income - Other comprehensive income after tax for the first three quarters of 2025 was ¥211,393,653.86, significantly higher than ¥80,822,487.75 in 2024[21] Accounting Changes - The company is set to implement new accounting standards starting in 2025, which may affect the financial statements[26]

Financial Performance - The company's operating revenue for the third quarter reached ¥306,713,650.45, an increase of 18.28% compared to the same period last year[5]. - The total profit for the quarter was ¥32,765,947.71, showing a slight increase of 0.02% year-on-year[5]. - The net profit attributable to shareholders was ¥29,642,580.46, a decrease of 0.12% compared to the previous year[5]. - The net profit after deducting non-recurring gains and losses was ¥28,463,133.27, an increase of 12.28% year-on-year[5]. - Total operating revenue for the first three quarters of 2025 reached ¥859,140,201.29, an increase of 16.5% compared to ¥737,577,510.78 in the same period of 2024[18]. - Net profit for the first three quarters of 2025 was ¥83,888,863.11, compared to ¥78,856,439.68 in 2024, representing a year-over-year increase of 6.4%[19]. - Total comprehensive income attributable to the parent company was CNY 83,954,440.23, an increase from CNY 78,786,274.20 in the previous year, reflecting a growth of approximately 2.2%[20]. - Basic and diluted earnings per share increased to CNY 0.4436 from CNY 0.4163, representing a rise of about 6.0%[20]. Cash Flow and Liquidity - The cash flow from operating activities for the year-to-date period was ¥76,238,245.23, reflecting a significant increase of 256.82%[5][9]. - Cash flow from operating activities generated a net amount of CNY 76,238,245.23, significantly up from CNY 21,366,141.04 in the same period last year, indicating a year-over-year increase of approximately 257.5%[22]. - Cash inflow from investment activities totaled CNY 992,748,220.12, compared to CNY 106,552,952.05 in the previous year, marking a substantial increase of about 831.5%[23]. - Cash outflow from investment activities was CNY 1,108,853,173.71, up from CNY 379,957,452.22, resulting in a net cash flow from investment activities of CNY -116,104,953.59[23]. - The company reported a net increase in cash and cash equivalents of CNY -67,164,849.18, compared to a net decrease of CNY -213,501,243.52 in the previous year[23]. - The company's cash and cash equivalents decreased to ¥236,278,668.64 as of September 30, 2025, from ¥306,023,858.21 at the end of 2024, a decline of 22.7%[14]. - The company’s cash and cash equivalents at the end of the period were ¥172,753,949.06, down from ¥134,191,751.06 in 2024, reflecting liquidity management challenges[32]. Assets and Liabilities - The total assets as of the end of the reporting period were ¥2,827,851,096.24, representing an increase of 8.22% from the end of the previous year[6]. - The company's total assets as of September 30, 2025, amounted to ¥2,827,851,096.24, an increase from ¥2,613,043,597.95 at the end of 2024[15]. - The company's total liabilities increased to ¥1,379,069,244.67 as of September 30, 2025, from ¥1,220,624,431.34 at the end of 2024, reflecting a growth of 13.0%[16]. - Total liabilities decreased to CNY 349,628,325.16 from CNY 371,035,722.13, showing a reduction of about 5.7%[26]. - The total assets and shareholders' equity amounted to ¥1,368,597,115.03 and ¥1,018,968,789.87 respectively, showing a slight increase from ¥1,364,209,234.92 and ¥993,173,512.79 in 2024[27]. Research and Development - Research and development expenses for the first three quarters of 2025 were ¥46,940,464.02, compared to ¥40,941,818.06 in 2024, indicating an increase of 14.9%[19]. - Research and development expenses increased to ¥2,018,845.31 in 2025 from ¥1,333,465.64 in 2024, indicating a focus on innovation and product development[28]. Investment Performance - The company reported a significant increase in investment income, reaching ¥70,534,324.82 in 2025 compared to ¥8,446,874.85 in 2024, reflecting improved investment performance[28]. - Investment activities generated a net cash outflow of ¥20,474,102.23 in 2025, an improvement from a larger outflow of ¥165,600,590.88 in the previous year[32]. Financial Management - The company's equity attributable to shareholders increased to ¥1,447,994,613.91, up by 4.06% compared to the previous year-end[6]. - The weighted average return on equity was 2.06%, a decrease of 0.13 percentage points year-on-year[6]. - The company's financial expenses showed a decrease, with interest expenses at ¥25,206.66 in 2025 compared to ¥49,270.29 in 2024, indicating improved cost management[28].

Financial Performance - Q3 2025 revenue reached ¥1,172,937,690.91, an increase of 5.22% year-over-year[5] - Net profit attributable to shareholders was ¥57,739,234.51, a decrease of 21.90% compared to the same period last year[5] - Basic earnings per share decreased by 28.57% to ¥0.05, while diluted earnings per share remained at ¥0.05[5] - Total operating revenue for the period reached ¥3,506,557,960.59, an increase of 12.2% compared to ¥3,124,456,077.09 in the previous period[17] - Total operating costs amounted to ¥3,188,939,993.18, up from ¥2,837,489,548.27, reflecting a growth of 12.4%[17] - Net profit for the period was ¥309,050,039.49, slightly down from ¥310,638,956.72 in the previous period, indicating a decrease of 0.5%[18] - The total comprehensive income for the period was approximately ¥309.05 million, a slight decrease from ¥310.64 million in the previous period, representing a decline of 0.5%[19] - Basic earnings per share increased to ¥0.29 from ¥0.28, reflecting a growth of 3.57%[19] Assets and Liabilities - Total assets increased by 10.04% to ¥6,058,760,846.55 compared to the end of the previous year[5] - The company's total assets increased to ¥6,058,760,846.55 from ¥5,505,921,466.47, representing a growth of 10%[16] - Current liabilities rose to ¥1,837,958,790.28, compared to ¥1,460,504,939.91, marking an increase of 25.8%[16] - Non-current liabilities totaled ¥70,178,712.49, up from ¥68,104,474.03, reflecting a growth of 3%[16] Cash Flow - Cash flow from operating activities for the year-to-date increased by 17.40% to ¥343,086,770.39[5] - Cash inflow from operating activities totaled ¥2.43 billion, compared to ¥2.33 billion in the previous period, marking a rise of 4.1%[22] - Cash flow from operating activities generated ¥343.09 million, up from ¥292.23 million, indicating an increase of 17.4%[22] - Net cash flow from investing activities was ¥61.29 million, a significant improvement from a negative ¥169.22 million in the prior period[22] - The company received cash from financing activities totaling ¥194.42 million, compared to ¥50 million in the previous period, reflecting a growth of 288.84%[22] - The net cash flow from financing activities was negative at ¥45.46 million, an improvement from a negative ¥580.13 million in the prior period[22] - The company reported a decrease in cash received from tax refunds to ¥2.00 million from ¥5.92 million, a decline of 66.2%[22] - The company experienced a positive impact from exchange rate changes on cash and cash equivalents amounting to ¥258,800.56, compared to a negative impact of ¥579,151.14 in the previous period[23] Shareholder Information - The total number of common shareholders at the end of the reporting period is 39,362[10] - The top 10 shareholders hold a total of 9.44% of shares, with Ren Silong holding 106,064,330 shares[10] - The company has repurchased a total of 38,505,300 shares, accounting for 3.4284% of the total share capital[11] - The number of shares held by the top 10 unrestricted shareholders includes 37,557,700 shares held by Hong Kong Central Clearing Limited[10] - The company has no preferred shareholders as of the reporting period[12] Investments and Expenditures - Development expenditures rose by 86.50% due to increased capitalized project investments[9] - Goodwill increased by 75.50% as a result of investment acquisitions[9] - The company reported a 136.22% increase in net cash flow from investing activities due to the maturity of financial products[9] - Research and development expenses for the period were ¥243,121,971.21, compared to ¥221,524,730.98, showing an increase of 9.7%[18] - The company reported a significant increase in inventory, which rose to ¥540,077,937.83 from ¥469,355,120.33, a growth of 15.1%[16] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[18]