浙江新农化工股份有限公司 2025 年第三季度报告 证券代码：002942 证券简称：新农股份 公告编号：2025-056 浙江新农化工股份有限公司 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 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年 | 年初至报告期末 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 同期增减 | | 比上年同期增减 | | 营业收入（元） | 245,450,591.51 | 13.44% | 836,662,079.72 | 10.77% ...

Financial Performance - The company's revenue for Q3 2025 was CNY 132,482,970.99, a decrease of 4.72% compared to the same period last year[4] - Net profit attributable to shareholders was CNY 9,583,905.64, down 37.20% year-on-year[4] - The basic earnings per share (EPS) was CNY 0.0587, reflecting a decline of 35.92% compared to the previous year[4] - Total operating revenue for the current period reached ¥441,244,733.57, an increase of 4.3% compared to ¥422,796,240.46 in the previous period[24] - Net profit for the current period was ¥53,228,184.49, slightly higher than ¥52,237,238.79 from the previous period, indicating a growth of 1.9%[25] - The total comprehensive income for the period was CNY 53,203,987.60, compared to CNY 52,237,238.79 in the previous period, reflecting an increase[26] - Basic and diluted earnings per share increased to CNY 0.325 from CNY 0.312, representing a growth of 4.2%[26] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,517,621,152.73, an increase of 0.51% from the end of the previous year[4] - The company's total assets increased to ¥2,517,621,152.73 from ¥2,504,747,738.80, marking a growth of 0.5%[22] - Current assets totaled ¥1,696,410,418.59, a marginal increase from ¥1,694,546,494.58, showing a growth of 0.1%[21] - The total liabilities increased to ¥339,410,297.54 from ¥255,985,703.16, reflecting a rise of 32.5%[22] - The company's equity attributable to shareholders decreased to ¥2,173,815,374.04 from ¥2,245,764,811.04, a decline of 3.2%[23] Cash Flow - Cash flow from operating activities showed a net decrease of 38.84%, totaling CNY 76,392,286.01[4] - Cash flow from operating activities generated a net amount of CNY 76,392,286.01, down from CNY 124,903,079.59 in the previous period, indicating a decline of 38.7%[26] - Cash inflow from investment activities totaled CNY 2,749,626,741.19, compared to CNY 1,868,199,767.22 in the previous period, marking an increase of 47%[27] - The net cash flow from investment activities was CNY 81,506,737.58, up from CNY 49,966,552.03, showing a growth of 63.2%[27] - Cash flow from financing activities resulted in a net outflow of CNY 5,302,493.58, an improvement from a net outflow of CNY 304,706,045.98 in the previous period[27] - The ending balance of cash and cash equivalents increased to CNY 530,608,277.75 from CNY 278,556,876.99, reflecting a growth of 90.5%[27] Investments and Income - Investment income decreased by 63.73% to CNY 4,837,039.94 due to reduced returns from cash management products[11] - The company’s cash management income increased significantly, contributing to a fair value change gain of CNY 8,603,831.56, up 121.91% year-on-year[11] - The company received CNY 2,727,000,000.00 from the recovery of investments, significantly higher than CNY 1,822,960,000.00 in the previous period, indicating a growth of 49.7%[27] Shareholder Information - The total number of common shareholders at the end of the reporting period was 13,278, with no preferred shareholders having restored voting rights[14] - The largest shareholder, Jiangyin Hualan Electromechanical Technology Co., Ltd., holds 22.39% of shares, totaling 36,764,000 shares[14] - The top ten shareholders collectively hold significant stakes, with the second-largest shareholder, Ruizhong Life Insurance Co., Ltd., holding 16.38% or 26,901,579 shares[14] - The company has a total of 2,975,699 shares held in its repurchase special securities account, accounting for 1.81% of the total share capital[16] - The company plans to unlock shares held by executives and other stakeholders according to the established schedule, with significant amounts set for release in May 2025[18] Operating Costs and Expenses - Total operating costs amounted to ¥393,422,388.46, up from ¥380,153,962.71, reflecting a rise of 3.3%[24] - Research and development expenses for the current period were ¥29,541,151.81, compared to ¥28,885,335.31 in the previous period, indicating an increase of 2.3%[24] - Cash paid for dividends, profits, or interest decreased by 67.39% to $25,312,311.97, reflecting a reduction in cash dividends distributed[13] - Cash paid for other financing activities decreased by 52.96% to $108,243,481.61, due to a reduction in the implementation of share repurchases[13]

Revenue and Profitability - Revenue for Q3 2025 reached ¥1,423,351,202.10, an increase of 21.12% year-over-year[5] - Net profit attributable to shareholders was ¥176,351,714.55, up 20.01% compared to the same period last year[5] - The company reported a basic earnings per share of ¥0.2091, reflecting a growth of 19.76% year-over-year[5] - Total operating revenue for the current period reached ¥4,117,120,137.38, an increase of 16.3% compared to ¥3,538,905,541.67 in the previous period[22] - Net profit for the current period was ¥537,219,544.80, representing a growth of 7.1% from ¥499,457,000.62 in the previous period[23] - Total comprehensive income amounted to CNY 553,903,929.05, an increase from CNY 490,417,834.56 in the previous period, representing a growth of approximately 12.7%[24] - Basic earnings per share increased to CNY 0.6338 from CNY 0.5852, reflecting a rise of about 8.9%[24] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥8,782,225,972.50, representing a 17.62% increase from the end of the previous year[5] - The company's total assets increased to ¥8,782,225,972.50, up from ¥7,466,764,100.82 at the beginning of the period, reflecting a growth of 17.6%[20] - Current assets totaled ¥5,704,646,131.97, a rise of 26.7% from ¥4,501,801,857.89 at the start of the period[19] - The total liabilities increased to ¥2,572,196,940.98, up from ¥1,569,120,099.86 at the beginning of the period, marking a growth of 63.9%[20] - Current liabilities increased by CNY 979,459,680.87, a growth of 70.52%, with total liabilities rising by CNY 1,003,076,841.12, a growth of 63.93%[11] - The company's equity attributable to shareholders reached ¥6,137,771,559.49, an increase of 4.8% from ¥5,856,742,718.14 at the start of the period[20] Cash Flow - Cash flow from operating activities for the year-to-date reached ¥640,632,002.84, a significant increase of 54.63%[5] - Net cash flow from operating activities increased by CNY 226,328,817.23, a growth of 54.63%, primarily due to improved accounts receivable management[14] - Cash and cash equivalents increased by CNY 364,602,825.4, a growth of 395.86%, due to various changes in cash flow[14] - Cash inflow from operating activities was CNY 2,274,660,502.14, compared to CNY 2,074,013,677.16 in the prior period, showing an increase of approximately 9.7%[25] - Cash outflow from operating activities totaled CNY 1,634,028,499.30, a slight decrease from CNY 1,659,710,491.55, reflecting a reduction of about 1.5%[26] - Net cash flow from financing activities increased by CNY 156,220,450.89, a growth of 47.77%, mainly due to borrowings from a wholly-owned subsidiary[14] - Cash inflow from financing activities was CNY 169,052,600.00, compared to CNY 118,817,339.59 in the prior period, indicating an increase of approximately 42.1%[26] - The company reported a decrease in cash outflow from financing activities to CNY 339,826,644.92 from CNY 445,811,835.40, representing a reduction of about 23.7%[26] Inventory and Expenses - Inventory increased by ¥340,975,365.66, a growth of 33.11%, due to the rise in business volume[8] - Employee compensation increased by CNY 15,380,049.36, a growth of 41.09%, mainly due to changes in employee insurance and welfare expenses[11] - Research and development expenses for the current period were ¥223,018,526.08, an increase of 10.8% from ¥201,286,775.34 in the previous period[23] - Total operating costs amounted to ¥3,550,077,604.57, up 16.4% from ¥3,048,469,817.99 in the prior period[22] - Financial expenses for the first nine months of 2025 increased by CNY 14,651,017.59, a growth of 105.2%, primarily due to reduced foreign exchange gains[11] - Investment income decreased by CNY 1,674,104.54, a decline of 39.14%, mainly due to the transfer of equity in Yudong Foil Material[11] Other Financial Metrics - Non-operating income from government subsidies amounted to ¥5,462,994.67 for the quarter[6] - Contract liabilities increased by ¥4,978,357.5, reflecting a growth of 60.2% due to an increase in advance payments[8] - Other comprehensive income after tax increased by CNY 25,723,550.31, a growth of 284.58%, mainly due to fair value changes in stock prices[11] - Total number of ordinary shareholders at the end of the reporting period was 47,355[13]

Financial Performance - The company's revenue for Q3 2025 was CNY 434,517,125.34, representing a 2.45% increase year-over-year, while the year-to-date revenue was CNY 1,317,076,113.48, showing a slight decrease of 0.39% compared to the same period last year[5]. - Net profit attributable to shareholders for Q3 2025 was CNY 4,710,268.28, a significant increase of 1,316.05% year-over-year, while the year-to-date net profit was CNY -1,100,159.67, reflecting a decrease of 103.04%[5]. - Basic and diluted earnings per share for Q3 2025 were both CNY 0.0119, marking a substantial increase of 1,222.22% compared to the same period last year[5]. - Total operating revenue for the current period is ¥1,317,076,113.48, a slight decrease of 0.01% from ¥1,322,234,413.75 in the previous period[20]. - Total operating costs increased to ¥1,292,835,287.81, up 2.1% from ¥1,265,739,711.39 in the previous period[20]. - Net profit for the current period is -¥1,943,993.04, a decline from a net profit of ¥36,142,245.31 in the previous period[21]. - The total profit for the current period is ¥5,196,279.40, a decrease of 88.5% from ¥45,366,860.75 in the previous period[21]. - Basic and diluted earnings per share for the current period are both -¥0.0028, down from ¥0.0906 in the previous period[21]. Assets and Liabilities - Total assets as of September 30, 2025, were CNY 5,901,757,106.67, an increase of 1.32% from the end of the previous year[5]. - Total current assets as of September 30, 2025, amounted to ¥3,138,678,439.75, an increase from ¥3,046,358,976.71 at the beginning of the period, reflecting a growth of approximately 3.8%[16]. - Total liabilities increased from ¥1,463,777,022.00 to ¥1,565,890,623.97, marking an increase of approximately 7%[17]. - Short-term borrowings rose sharply from ¥59,317,883.35 to ¥163,096,350.00, indicating an increase of about 174.5%[17]. - Total non-current assets decreased slightly from ¥2,778,564,582.50 to ¥2,763,078,666.92, a decline of approximately 0.6%[17]. - The company's equity attributable to shareholders decreased from ¥4,360,679,835.59 to ¥4,335,419,133.28, a decline of approximately 0.6%[17]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 28,012[10]. - The largest shareholder, Yan Xiaohui, holds 22.15% of shares, totaling 88,585,200 shares[10]. - The second-largest shareholder, Yin Guoping, holds 16.04% of shares, totaling 64,155,000 shares[10]. - The company has repurchased a total of 3,200,000 shares, accounting for 0.80% of the total share capital[10]. - There are no changes in the top 10 shareholders or the top 10 unrestricted shareholders due to securities lending[11]. Research and Development - Research and development expenses for the first nine months of 2025 amounted to CNY 55,846,719.90, a 34.05% increase compared to CNY 41,660,613.38 in the same period of 2024[8]. - Research and development expenses rose significantly to ¥55,846,719.90, an increase of 34.1% compared to ¥41,660,613.38 in the previous period[20]. Cash Flow - The net cash flow from operating activities is -¥185,389,921.10, worsening from -¥9,039,204.85 in the previous period[22]. - Cash flow from investment activities shows a net outflow of -¥641,811,573.14, compared to a net inflow of ¥654,043,833.73 in the previous period[22]. - Cash and cash equivalents at the end of the period decreased to ¥91,670,398.89 from ¥831,355,002.16 at the end of the previous period[23]. - Cash and cash equivalents decreased significantly from ¥745,590,069.83 to ¥196,887,334.20, representing a decline of about 73.6%[16]. Other Financial Metrics - The company experienced a 30.08% increase in trading financial assets, reaching CNY 1,171,149,515.19, attributed to enhanced cash management[8]. - The company recorded a 665.10% increase in asset disposal gains, amounting to CNY 723,042.49, compared to CNY 94,503.36 in the previous year[9]. - The company’s weighted average return on net assets was 0.11%, a decrease of 0.03% compared to the previous year[5]. - The company reported a 1260.37% increase in financial expenses, totaling CNY 6,348,455.34, primarily due to increased interest expenses and reduced exchange gains[8]. Inventory and Receivables - The total inventory increased from ¥270,528,377.11 to ¥287,509,343.47, representing a growth of about 6.3%[16]. - The company's accounts receivable rose from ¥236,424,308.04 to ¥300,912,990.89, an increase of approximately 27.3%[16]. - The total amount of other current assets increased from ¥452,087,706.59 to ¥694,366,795.45, reflecting a growth of about 53.7%[16].

Financial Performance - The company's operating revenue for Q3 2025 was ¥199,332,232.56, representing a 25.40% increase year-over-year[5] - The net profit attributable to shareholders was -¥33,509,545.50, a decrease of 34.88% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was -¥30,429,100.96, down 41.25% year-over-year[5] - For the first three quarters of 2025, the company achieved operating revenue of CNY 520,725,624.11, a year-on-year decrease of 25.36%[18] - The net profit attributable to shareholders was CNY -52,202,270.15, a year-on-year decline of 354.59%[18] - The net cash flow from operating activities was CNY -83,471,746.75, an increase of 38.60% year-on-year[18] - Total operating revenue for the current period is ¥520,725,624.11, a decrease of 25.4% compared to ¥697,670,458.81 in the previous period[30] - The net profit for the current period is a loss of ¥52,319,028.83, compared to a profit of ¥20,827,569.04 in the previous period, representing a significant decline[31] - Basic and diluted earnings per share for the current period are both -¥0.0840, compared to ¥0.0332 in the previous period[33] - The total comprehensive income attributable to the parent company is a loss of ¥52,202,270.15, compared to a profit of ¥20,504,107.75 in the previous period[33] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,073,869,018.46, a decrease of 6.54% from the end of the previous year[5] - As of September 30, 2025, the company's total assets amounted to CNY 4,073,869,018.46, a decrease from CNY 4,359,134,803.69 at the beginning of the period[25] - The company's current assets decreased to CNY 2,955,932,255.20 from CNY 3,446,152,081.17, reflecting a reduction of approximately 14.2%[26] - The company's total liabilities decreased to CNY 578,231,611.00 from CNY 823,943,791.98, indicating a reduction of approximately 29.8%[27] - The equity attributable to the parent company decreased from CNY 3,524,914,817.98 to CNY 3,485,477,972.41, a decline of about 1.1%[29] Cash Flow - Cash flow from operating activities was -¥83,471,746.75, showing a 38.60% improvement compared to the previous period[12] - Cash flow from operating activities shows a net outflow of ¥83,471,746.75, an improvement from a net outflow of ¥135,953,576.73 in the previous period[34] - Cash flow from investing activities results in a net outflow of ¥686,239,441.36, compared to a net outflow of ¥612,582,341.31 in the previous period[34] - Cash flow from financing activities shows a net outflow of ¥48,570,765.54, an improvement from a net outflow of ¥149,972,968.25 in the previous period[34] - The cash and cash equivalents at the end of the period amount to ¥697,958,307.78, down from ¥737,797,183.61 at the end of the previous period[34] Project and Market Development - The company secured multiple projects in key areas such as gas, drainage, and water supply, with project amounts exceeding CNY 10 million each[19] - The company’s intelligent 12345 government service hotline business expanded significantly, with overall contract amounts showing substantial growth compared to the previous year[21] - The company plans to continue increasing R&D investment and actively explore market opportunities to support government modernization efforts[19] - The company is focusing on project management and collaboration mechanisms to enhance delivery quality and execution efficiency[21] - The company has been awarded projects in cities like Chongqing, Nanjing, and Huludao, reflecting its strength in urban governance and resilience improvement[19] - The national policy support for urban development and infrastructure construction has provided new momentum for the industry[21] - The company plans to focus on urban infrastructure renovation and digital governance, aligning with national policies to enhance urban resilience and governance capabilities[23] - The "Two New" and "Two Heavy" initiatives are expected to allocate CNY 800 billion to support 1,459 projects, which will benefit the underground pipeline sector significantly[22] - The company anticipates improved market liquidity and vitality as local governments accelerate project lists and investment plans due to the rollout of special bonds and long-term treasury bonds[24] - The company maintains a strong project execution capability due to its extensive experience in urban digital governance and service[23] - The company aims for sustainable development, leveraging its technological advantages and practical experience to navigate external market fluctuations[24] Financial Ratios and Metrics - The basic earnings per share were -¥0.0539, reflecting a 35.45% improvement year-over-year[5] - The company experienced a 69.12% reduction in financial expenses, primarily due to decreased interest income[10] - The investment income increased dramatically by 14,258.93% to ¥10,355,729.02, attributed to gains from equity disposals[10] - The company reported a 67.61% improvement in cash flow from financing activities, amounting to -¥48,570,765.54, due to the absence of stock repurchase transactions from the previous year[12] Audit Status - The company has not undergone an audit for the third quarter financial report[35]

证券代码：301345 证券简称：涛涛车业 公告编号：2025-063 浙江涛涛车业股份有限公司 2025 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会及董事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担 个别和连带的法律责任。 浙江涛涛车业股份有限公司 2025 年第三季度报告 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 浙江涛涛车业股份有限公司 2025 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | | | 年初至报告 | | --- | --- | --- | --- | --- | | | | 本报告期比上年 同期增减 | 年初至报告期末 | 期末比上年 同期增减 | | 营业收入（元） | 1,059,517,353.19 | 27.73% | 2 ...

证券代码：301227 证券简称：森鹰窗业 公告编号：2025-088 哈尔滨森鹰窗业股份有限公司 2025 年第三季度报告 2025 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会及董事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并 承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准 确、完整。 3.第三季度财务会计报告是否经过审计 □是 否 1 哈尔滨森鹰窗业股份有限公司 2025 年第三季度报告 哈尔滨森鹰窗业股份有限公司 一、主要财务数据 （一）主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 是 □否 追溯调整或重述原因 | | 本报告期 | 上年同期 | | 本报告期 比上年同 期增减 | 年初至报告期末 | 上年同期 | | 年初至 报告期 末比上 年同期 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | ...

[Report Overview](index=1&type=section&id=%E6%8A%A5%E5%91%8A%E6%A6%82%E8%A7%88) [Important Notice](index=1&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The board and management guarantee the quarterly report's truthfulness, accuracy, and completeness - The company's board of directors, supervisory board, and all directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, free from false records, misleading statements, or major omissions[2](index=2&type=chunk)[3](index=3&type=chunk) - The company's principal officer, head of accounting, and head of accounting department declare and guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report[3](index=3&type=chunk) [Audit Status](index=1&type=section&id=%E5%AE%A1%E8%AE%A1%E6%83%85%E5%86%B5) The financial statements for this quarter are unaudited - The third quarter financial statements are unaudited[4](index=4&type=chunk)[28](index=28&type=chunk) [Key Financial Data](index=2&type=section&id=%E4%B8%80%E3%80%81%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) [Key Accounting Data and Financial Indicators](index=2&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%20%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) Q3 2025 and YTD operating revenue grew significantly, but Q3 net profit attributable to shareholders decreased; assets and equity grew steadily Key Financial Indicators for Q3 2025 and Year-to-Date | Metric | Current Period (Q3 2025) | YoY Change (Current Period) | YTD (9M 2025) | YoY Change (YTD) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 1,516,774,924.78 | 21.85% | 4,737,454,765.81 | 29.03% | | Net Profit Attributable to Shareholders of Listed Company (CNY) | 134,991,762.23 | -16.65% | 513,010,893.92 | 9.05% | | Net Profit Attributable to Shareholders of Listed Company, Excluding Non-Recurring Gains and Losses (CNY) | 125,289,500.93 | -17.74% | 492,709,068.06 | 11.26% | | Net Cash Flow from Operating Activities (CNY) | -- | -- | 497,981,458.54 | 25.58% | | Basic Earnings Per Share (CNY/share) | 0.34 | -15.00% | 1.28 | 8.47% | | Weighted Average Return on Net Assets | 2.99% | -1.07% | 11.72% | -0.32% | | Metric | End of Current Period (Q3 2025) | End of Prior Year (FY 2024) | Change from Prior Year End | | :--- | :--- | :--- | :--- | | Total Assets (CNY) | 5,509,998,060.81 | 5,009,510,974.95 | 9.99% | | Total Equity Attributable to Shareholders of Listed Company (CNY) | 4,475,192,218.66 | 4,143,904,039.11 | 7.99% | [Non-Recurring Gains and Losses Items and Amounts](index=2&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%20%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) Non-recurring gains/losses totaled **CNY 9.70 million** for the period and **CNY 20.30 million** YTD, mainly from fair value changes Non-Recurring Gains and Losses Items and Amounts | Item | Amount for Current Period (CNY) | Amount YTD (CNY) | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | -1,663,107.62 | -1,920,088.61 | | Government Grants Recognized in Current Profit/Loss | 39,000.00 | 600,500.00 | | Fair Value Changes and Disposal Gains/Losses from Financial Assets and Liabilities Held by Non-Financial Enterprises (Excluding Effective Hedge Accounting Related to Normal Business Operations) | 7,852,516.64 | 23,240,237.17 | | Other Non-Operating Income and Expenses (Excluding Above Items) | 7,007,784.85 | 5,365,051.18 | | Less: Income Tax Impact | 3,583,562.77 | 7,045,242.52 | | Minority Interest Impact (After Tax) | -49,630.20 | -61,368.64 | | Total | 9,702,261.30 | 20,301,825.86 | - The company has no other profit/loss items meeting the definition of non-recurring gains/losses, nor does it classify non-recurring items as recurring[8](index=8&type=chunk) [Changes and Reasons for Key Accounting Data and Financial Indicators](index=3&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%20%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E5%8F%91%E7%94%9F%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) Key financial statement metrics changed significantly due to business growth, investments, compensation, and exchange rates [Balance Sheet Item Changes](index=3&type=section&id=1%E3%80%81%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) Major Balance Sheet Item Changes and Reasons | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Prepayments | 142.37% | Primarily due to increased prepayment for promotion and consulting fees | | Fixed Assets | 38.51% | Primarily due to construction in progress transferred to fixed assets | | Construction in Progress | -62.54% | Primarily due to completion and transfer of construction in progress to fixed assets | | Deferred Income Tax Assets | 38.02% | Primarily due to increased deferred income tax from lease liabilities and unrealized intercompany profits | | Other Non-Current Assets | 51.22% | Primarily due to increased prepayments for fixed asset acquisition | | Short-Term Borrowings | 54.55% | Primarily due to increased short-term operating borrowings | | Accounts Payable | 45.65% | Primarily due to increased accounts payable for goods | | Contract Liabilities | -45.38% | Primarily due to decreased advance receipts | | Taxes Payable | 32.71% | Primarily due to increased income tax payable | | Non-Current Liabilities Due Within One Year | 32.55% | Primarily due to increased lease liabilities due within one year | | Other Current Liabilities | -66.88% | Primarily due to decreased advance receipts and corresponding tax reduction | | Long-Term Employee Compensation Payable | 114.31% | Primarily due to increased long-term performance incentives | | Surplus Reserve | 41.37% | Primarily due to increased parent company profit and surplus reserve | | Minority Interests | -100.00% | Primarily due to the acquisition of minority interest in a subsidiary | [Income Statement Item Changes](index=4&type=section&id=2%E3%80%81%E5%88%A9%E6%B6%A6%E8%A1%A8) Major Income Statement Item Changes and Reasons | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Total Operating Costs | 32.28% | Primarily due to revenue growth and corresponding cost increase | | Taxes and Surcharges | 47.79% | Primarily due to increased VAT and corresponding surcharges | | Selling Expenses | 48.86% | Primarily due to growth of own brands, increased direct sales channel proportion, and new product promotion leading to higher business promotion and sales service fees | | Financial Expenses | 37.86% | Primarily due to decreased exchange gains | | Other Income | -47.90% | Primarily due to decreased government subsidies | | Credit Impairment Losses | -103.12% | Primarily due to a decrease in the increase of accounts receivable during the reporting period | | Asset Impairment Losses | -56.46% | Primarily due to decreased impairment of packaging materials and other assets during the reporting period | | Non-Operating Income | 82.35% | Primarily due to the impact of accounts payable no longer required to be paid | | Non-Operating Expenses | 102.95% | Primarily due to increased public welfare project expenditures | [Cash Flow Statement Item Changes](index=4&type=section&id=3%E3%80%81%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) Major Cash Flow Statement Item Changes and Reasons | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Cash Received from Sales of Goods and Services | 33.75% | Primarily due to increased revenue | | Cash Received Related to Other Operating Activities | -38.73% | Primarily due to decreased customer deposits and government subsidies received | | Cash Paid to and for Employees | 33.39% | Primarily due to increased compensation expenses from attracting high-end talent and implementing performance incentive mechanisms | | Taxes and Fees Paid | 31.55% | Primarily due to increased income tax and surcharges | | Cash Paid Related to Other Operating Activities | 51.99% | Primarily due to increased expenses corresponding to business growth | | Cash Received Related to Other Investing Activities | -100.00% | Primarily due to maturity and redemption of cash management products in the prior period | | Cash Paid for Investments | 3075.15% | Primarily due to expenditure for acquiring minority interest in a subsidiary | | Cash Paid Related to Other Investing Activities | -99.65% | Primarily due to the purchase of cash management products in the prior period | | Cash Received from Investments | 100.00% | Primarily due to partial exercise of the first tranche of restricted stock | | Cash Received from Borrowings | 100.00% | Primarily due to increased short-term borrowings | | Cash Received Related to Other Financing Activities | 7400.00% | Primarily due to receipt of loan deposits | | Cash Paid for Debt Repayment | 100.00% | Primarily due to repayment of short-term borrowings | | Cash Paid for Dividends, Profit Distribution, or Interest | 188.54% | Primarily due to increased cash dividends during the reporting period | | Cash Paid Related to Other Financing Activities | 270.79% | Primarily due to increased rent and interest paid on lease liabilities | | Effect of Exchange Rate Changes on Cash and Cash Equivalents | -100.00% | Primarily due to exchange rate fluctuations | [Shareholder Information](index=5&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E4%BF%A1%E6%81%AF) [Total Common Shareholders and Top Ten Shareholders' Holdings](index=5&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%20%E6%99%AE%E9%80%9A%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E5%92%8C%E8%A1%A8%E5%86%B3%E6%9D%83%E6%81%A2%E5%A4%8D%E7%9A%84%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) The company had **14,053** common shareholders; Qin Hua is the largest with **45.76%** and affiliated with management consulting centers - As of the end of the reporting period, the total number of common shareholders was **14,053 accounts**, with no preferred shareholders whose voting rights have been restored[14](index=14&type=chunk) Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Type | Shareholding Percentage | Number of Shares Held (shares) | Number of Restricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | | Qin Hua | Domestic Individual | 45.76% | 183,079,018 | 183,079,018 | | GOLDEN PROSPERITY INVESTMENT S.A R.L. | Overseas Legal Entity | 14.08% | 56,316,784 | 0 | | Liaocheng Haiang Enterprise Management Consulting Service Center (Limited Partnership) | Domestic Non-State-Owned Legal Entity | 6.93% | 27,739,245 | 27,739,245 | | Beijing Junlian Shengyuan Equity Investment Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Entity | 5.79% | 23,168,168 | 0 | | Hong Kong Securities Clearing Company Limited | Overseas Legal Entity | 3.82% | 15,264,982 | 0 | | Zhuhai Junlian Boyuan Equity Investment Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Entity | 2.54% | 10,173,922 | 0 | | Liaocheng Huaju Enterprise Management Consulting Service Center (Limited Partnership) | Domestic Non-State-Owned Legal Entity | 1.88% | 7,529,221 | 7,529,221 | | Shanghai Jueshu Asset Management Center (Limited Partnership) - Jueshu Jingfan Multi-Strategy No. 1 Private Securities Investment Fund | Other | 1.50% | 6,000,000 | 0 | | Liaocheng Huazhi Enterprise Management Consulting Service Center (Limited Partnership) | Domestic Non-State-Owned Legal Entity | 0.67% | 2,675,097 | 2,675,097 | | Guotai Junan Financial Holdings Limited - Client Funds | Overseas Legal Entity | 0.63% | 2,502,600 | 0 | - Qin Hua and Qin Xuanang, the executive partner of Liaocheng Haiang Enterprise Management Consulting Service Center (Limited Partnership), are father and son and act in concert. Qin Hua is also the executive partner of Liaocheng Huaju and Huazhi Enterprise Management Consulting Service Centers. Zhuhai Junlian Boyuan Equity Investment Partnership (Limited Partnership) is an acting-in-concert party with Beijing Junlian Shengyuan Equity Investment Partnership (Limited Partnership)[15](index=15&type=chunk)[16](index=16&type=chunk) [Changes in Restricted Shares](index=7&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%20%E9%99%90%E5%94%AE%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) Restricted shares remained unchanged, primarily pre-IPO, with Qin Hua holding the largest portion Changes in Restricted Shares | Shareholder Name | Restricted Shares at Beginning of Period (shares) | Restricted Shares Released During Period (shares) | Restricted Shares Increased During Period (shares) | Restricted Shares at End of Period (shares) | Reason for Restriction | Proposed Release Date | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Qin Hua | 183,079,018 | 0 | 0 | 183,079,018 | Pre-IPO Restricted Shares | February 16, 2027 | | Liaocheng Haiang Enterprise Management Consulting Service Center (Limited Partnership) | 27,739,245 | 0 | 0 | 27,739,245 | Pre-IPO Restricted Shares | August 16, 2026 | | Liaocheng Huaju Enterprise Management Consulting Service Center (Limited Partnership) | 7,529,221 | 0 | 0 | 7,529,221 | Pre-IPO Restricted Shares | August 16, 2026 | | Liaocheng Huazhi Enterprise Management Consulting Service Center (Limited Partnership) | 2,675,097 | 0 | 0 | 2,675,097 | Pre-IPO Restricted Shares | August 16, 2026 | | Total | 221,022,581 | 0 | 0 | 221,022,581 | -- | -- | [Other Significant Matters](index=7&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) [Other Significant Matters](index=7&type=section&id=%E5%85%B6%E4%BB%96%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) No other significant matters require disclosure during this reporting period - There are no other significant matters for the company[17](index=17&type=chunk) [Quarterly Financial Statements](index=7&type=section&id=%E5%9B%9B%E3%80%81%E5%AD%A3%E5%BA%A6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) [Consolidated Balance Sheet](index=7&type=section&id=1%E3%80%81%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of September 30, 2025, consolidated assets were **CNY 5.51 billion**, liabilities **CNY 1.04 billion**, and equity **CNY 4.48 billion**, maintaining a stable structure Consolidated Balance Sheet Key Data (September 30, 2025) | Metric | Balance at End of Period (CNY) | Balance at Beginning of Period (CNY) | | :--- | :--- | :--- | | Total Assets | 5,509,998,060.81 | 5,009,510,974.95 | | Total Liabilities | 1,034,805,842.15 | 858,183,911.67 | | Total Equity Attributable to Parent Company Shareholders | 4,475,192,218.66 | 4,143,904,039.11 | | Total Equity | 4,475,192,218.66 | 4,151,327,063.28 | - Total current assets were **CNY 2.16 billion**, and total non-current assets were **CNY 3.35 billion**[19](index=19&type=chunk) - Total current liabilities were **CNY 837 million**, and total non-current liabilities were **CNY 198 million**[20](index=20&type=chunk) [Consolidated Income Statement (Year-to-Date)](index=9&type=section&id=2%E3%80%81%E5%90%88%E5%B9%B6%E5%B9%B4%E5%88%9D%E5%88%B0%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E5%88%A9%E6%B6%A6%E8%A1%A8) As of September 30, 2025, YTD total operating revenue reached **CNY 4.74 billion** (**+29.03%**), with net profit of **CNY 514 million** (**+9.05%**) Consolidated Income Statement Key Data (Year-to-Date) | Metric | Amount for Current Period (CNY) | Amount for Prior Period (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 4,737,454,765.81 | 3,671,474,874.34 | | Total Operating Costs | 4,092,338,854.91 | 3,093,785,319.69 | | Operating Profit | 671,875,733.03 | 594,382,557.09 | | Total Profit | 676,821,587.26 | 597,291,903.43 | | Net Profit | 513,751,292.82 | 471,761,709.50 | | Net Profit Attributable to Parent Company Shareholders | 513,010,893.92 | 470,420,815.92 | | Basic Earnings Per Share | 1.28 | 1.18 | - Selling expenses were **CNY 1.03 billion**, a **48.86% year-over-year increase**, primarily due to growth in own brands, increased direct sales channel proportion, and new product promotion[23](index=23&type=chunk) [Consolidated Cash Flow Statement (Year-to-Date)](index=11&type=section&id=3%E3%80%81%E5%90%88%E5%B9%B6%E5%B9%B4%E5%88%9D%E5%88%B0%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) As of September 30, 2025, YTD net cash flow from operating activities was **CNY 498 million**, investing net outflow **CNY 402 million**, and financing net outflow **CNY 123 million** Consolidated Cash Flow Statement Key Data (Year-to-Date) | Item | Amount for Current Period (CNY) | Amount for Prior Period (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 497,981,458.54 | 396,557,720.15 | | Net Cash Flow from Investing Activities | -401,684,899.62 | -492,114,327.73 | | Net Cash Flow from Financing Activities | -122,671,358.52 | -74,950,680.24 | | Net Increase in Cash and Cash Equivalents | -32,859,023.14 | -170,507,287.82 | | Cash and Cash Equivalents at End of Period | 630,847,561.26 | 837,140,126.84 | - Cash received from sales of goods and services was **CNY 4.96 billion**, a **33.75% year-over-year increase**[25](index=25&type=chunk) - Cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets was **CNY 376 million**[26](index=26&type=chunk) [Adjustments to Financial Statement Items at the Beginning of the First Year of Adopting New Accounting Standards from 2025](index=13&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%202025%20%E5%B9%B4%E8%B5%B7%E9%A6%96%E6%AC%A1%E6%89%A7%E8%A1%8C%E6%96%B0%E4%BC%9A%E8%AE%A1%E5%87%86%E5%88%99%E8%B0%83%E6%95%B4%E9%A6%96%E6%AC%A1%E6%89%A7%E8%A1%8C%E5%BD%93%E5%B9%B4%E5%B9%B4%E5%88%9D%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E7%9B%B8%E5%85%B3%E9%A1%B9%E7%9B%AE%E6%83%85%E5%86%B5) The company did not adopt new accounting standards in 2025, requiring no adjustments to beginning-of-year financial statements; this quarter's report is unaudited - The company is not required to retrospectively adjust or restate prior year accounting data, and there are no adjustments to financial statement items at the beginning of the first year of adopting new accounting standards from 2025[5](index=5&type=chunk)[28](index=28&type=chunk) - The company's third quarter financial statements are unaudited[28](index=28&type=chunk)

Financial Performance - The company's operating revenue for the third quarter reached ¥38,925,495.51, representing a year-on-year increase of 22.55% and a cumulative increase of 128.17% year-to-date[5]. - Net profit attributable to shareholders was ¥116,202.93, up 103.96% year-on-year, with a year-to-date increase of 122.06% to ¥8,438,291.40[5]. - The net cash flow from operating activities increased by 154.21% year-to-date, totaling ¥36,791,421.87[5]. - Basic and diluted earnings per share both stood at ¥0.0002, reflecting a 102.00% increase compared to the same period last year[5]. - The company reported a significant increase in operating income of ¥125,133,705.85, attributed to increased market demand and higher sales of value-added products[9]. - Investment income surged by 414.19%, amounting to an increase of ¥1,400,174.61, due to improved investment returns[9]. - The company reported a decrease in contract liabilities by 73.46%, reflecting the recognition of previously received advance payments as revenue[9]. - The net profit for the current period was ¥8,338,883.99, a recovery from a net loss of ¥38,295,228.25 in the previous period[19]. - The operating profit for the current period was ¥8,786,349.79, contrasting with an operating loss of ¥38,307,638.00 in the prior period[19]. - The company reported an investment income of ¥1,738,223.33, up from ¥338,048.72 in the previous period[19]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,000,329,577.92, a decrease of 3.99% from the end of the previous year[5]. - The total balance of current assets at the end of the reporting period is 438,375,525.15 yuan, a decrease from 477,082,859.44 yuan at the beginning of the period[14]. - Total liabilities decreased to ¥587,185,952.03 from ¥637,414,675.06, a reduction of about 7.9%[16]. - The total equity attributable to shareholders increased to ¥412,874,902.50 from ¥404,083,916.51, showing a growth of approximately 2%[16]. - The total assets decreased to ¥1,000,329,577.92 from ¥1,041,866,722.37, reflecting a decline of approximately 4%[16]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 22,473[10]. - The largest shareholder, Beijing Zhongke Xinkong Innovation and Entrepreneurship Technology Development Co., Ltd., holds 17.00% of shares, totaling 82,317,392 shares, with 10,200,000 shares pledged[10]. - The second-largest shareholder, Guo Songsen, owns 12.28% of shares, amounting to 59,450,851 shares[10]. - The total number of preferred shareholders is zero, indicating no preferred shares outstanding[11]. - The total number of restricted shares at the end of the period is zero, as all restricted shares have been released[12]. - The company has not reported any changes in the top ten shareholders due to securities lending or borrowing activities[10]. Cash Flow Management - Cash and cash equivalents increased to 42,454,040.83 yuan from 27,983,674.97 yuan[14]. - Accounts receivable decreased to 126,445,619.94 yuan from 139,011,222.15 yuan[14]. - Inventory decreased to 188,929,407.19 yuan from 222,282,429.01 yuan[14]. - Operating cash flow for the current period is CNY 36,791,421.87, an increase of 154.5% compared to CNY 14,472,600.79 in the previous period[21]. - Cash inflow from operating activities totaled CNY 245,019,429.73, slightly down from CNY 249,717,487.98 in the previous period[21]. - Cash outflow from operating activities decreased to CNY 208,228,007.86 from CNY 235,244,887.19, indicating improved cash management[21]. - Cash paid for purchasing goods and services decreased to CNY 102,833,308.24 from CNY 147,055,588.01, indicating cost control efforts[21]. - The company’s cash flow from operating activities remains positive, highlighting operational efficiency despite challenges in investment activities[21]. Financing Activities - Cash inflow from financing activities increased to CNY 263,896,040.00, up from CNY 161,300,000.00 in the previous period[22]. - Net cash flow from financing activities improved to -CNY 20,669,736.10 from -CNY 121,410,139.66, reflecting better debt management[22]. - The company received CNY 263,000,000.00 in borrowings, a significant increase from CNY 153,300,000.00 in the previous period[22]. - Investment activities resulted in a net cash outflow of CNY 454,364.78, worsening from a net outflow of CNY 291,066.00 in the previous period[22].

长虹华意压缩机股份有限公司 2025 年第三季度报告 重要内容提示： 1.董事会及董事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 证券代码：000404 证券简称：长虹华意 公告编号：2025-055 长虹华意压缩机股份有限公司 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。 单位：元 | | 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 期末比上年 | | --- | --- | --- | --- | --- | | | | 增减 | | 同期增减 | | 营业收入 | 2,721,140,145.97 | -7.97% | 9,349,032,631.65 | -3.49% | | 归属于上市公司股东的净利润 | 122,605,333.00 | -17.77% | 379,866,990.32 | 1.05% | | 归属于上市公司股东的扣除非经常 性损益的净利润 | 112,474,181.65 | -16.52% | 326,8 ...