长飞光纤光缆股份有限公司2025 年第三季度报告 证券代码：601869 证券简称：长飞光纤 长飞光纤光缆股份有限公司 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。 公司负责人马杰、主管会计工作负责人庄丹及会计机构负责人（会计主管人员）Jinpei Yang（杨 锦培）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 长飞光纤光缆股份有限公司2025 年第三季度报告 | | 本报告期末 | 上年度末 | 本报告期末比上 | | | --- | --- | --- | --- | --- | | | | | 年度末增减变动 | | | | | | 幅度(%) | | | 总资产 | 34,864,410,977 | 31,726,7 ...

Financial Performance - The company's operating revenue for the third quarter was CNY 1,470,356,873.74, an increase of 5.97% compared to the same period last year[4] - The total profit for the quarter was CNY 43,403,798.27, a decrease of 15.58% year-on-year[4] - The net profit attributable to shareholders was CNY 34,361,228.02, down 27.04% from the previous year[4] - The basic earnings per share for the quarter was CNY 0.04, a decrease of 20.00% compared to the same period last year[5] - Total operating revenue for the first three quarters of 2025 was CNY 4,624,350,443.62, a decrease of 0.9% compared to CNY 4,666,958,713.84 in the same period of 2024[18] - Net profit for the first three quarters of 2025 was CNY 146,619,239.95, a decline of 58.9% compared to CNY 356,919,215.41 in 2024[19] - Total comprehensive income for the period was CNY 144,632,967.90, a decrease from CNY 354,487,866.77 in the previous year, with the attributable to the parent company amounting to CNY 139,209,932.65 compared to CNY 344,627,089.96[20] - Earnings per share (EPS) for the current period was CNY 0.16, down from CNY 0.39 in the previous period[20] Assets and Liabilities - The total assets at the end of the reporting period were CNY 8,816,367,162.43, a decrease of 3.10% from the end of the previous year[5] - The company's total assets as of September 30, 2025, were CNY 8,816,367,162.43, down from CNY 9,097,984,876.42 at the end of 2024[16] - Total liabilities decreased to CNY 4,711,537,770.33 from CNY 5,036,414,501.68, a reduction of 6.4%[16] - Short-term borrowings increased to CNY 1,038,320,911.92, up 19.1% from CNY 871,771,193.79 at the end of 2024[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 113,538[10] - The largest shareholder, Hualu Holdings Group Co., Ltd., holds 20.69% of the shares, totaling 185,896,620 shares[10] Cash Flow and Investments - The company's cash and cash equivalents increased to CNY 786,358,617.39 as of September 30, 2025, compared to CNY 772,536,945.22 at the end of 2024[14] - Cash inflow from operating activities totaled CNY 3,901,835,418.37, an increase from CNY 3,786,030,177.32 year-over-year[22] - Operating cash flow for the first three quarters of 2025 was CNY 305,942,559.58, down from CNY 404,714,257.80 in the same period of 2024[22] - Net cash flow from investing activities was -CNY 114,511,605.78, an improvement from -CNY 176,726,176.10 in the previous year[23] - Cash flow from financing activities resulted in a net outflow of -CNY 145,650,672.54, compared to -CNY 188,301,912.41 in the prior year[23] - The company reported a net increase in cash and cash equivalents of CNY 50,505,804.05, compared to CNY 45,379,039.62 in the previous year[23] - The total cash and cash equivalents at the end of the period stood at CNY 546,206,996.02, down from CNY 575,424,936.99 at the end of the previous year[23] - The company received CNY 1,349,991,458.24 in cash from borrowings, an increase from CNY 904,000,000.03 in the previous year[23] - Cash received from sales of goods and services was CNY 3,758,129,493.31, an increase from CNY 3,428,306,291.09 in the same period last year[21] Operational Metrics - The company experienced a significant decline in profit due to large asset disposal gains from land storage in the same period last year, impacting current profit metrics[8] - Non-recurring gains and losses for the quarter amounted to CNY 11,618,622.28, with a total of CNY 18,374,363.94 for the year-to-date[7] - The company reported a decrease in research and development expenses to CNY 220,890,477.26 from CNY 223,166,241.03, a decline of 1.0%[19] - Accounts receivable rose to CNY 955,387,979.32, up from CNY 940,440,122.12 at the end of 2024, indicating a 1.0% increase[14] - Inventory decreased to CNY 1,266,992,024.09 from CNY 1,484,208,209.11, reflecting a reduction of 14.6%[14] - Total operating costs for the first three quarters of 2025 were CNY 4,428,403,914.86, down 2.6% from CNY 4,545,910,874.37 in 2024[18]

Financial Performance - The company's operating revenue for the third quarter was ¥308,329,265.17, representing a year-on-year increase of 6.69%[4] - The total profit for the period was a loss of ¥224,442,868.18, with a cumulative loss of ¥536,484,033.49 for the year-to-date[4] - The net profit attributable to shareholders was a loss of ¥222,722,145.51, with a year-to-date loss of ¥522,761,655.87[4] - The basic and diluted earnings per share were both -¥0.1600 for the quarter, compared to -¥0.3755 year-to-date[5] - The weighted average return on equity decreased to -10.45%, down 2.30 percentage points from the previous year[5] - The net loss for the first three quarters of 2025 was RMB 522,761,655.87, compared to a net loss of RMB 1,768,409,611.88 for the same period in 2024, indicating an improvement in performance[17] - The net profit for the first three quarters of 2025 was a loss of CNY 521,982,988.29, compared to a loss of CNY 425,342,760.02 in the same period of 2024, indicating a deterioration in performance[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,767,398,705.65, a slight decrease of 0.11% from the previous year-end[5] - The equity attributable to shareholders decreased by 34.62% to ¥987,373,385.15 compared to the beginning of the year[5] - Total liabilities as of September 30, 2025, were RMB 6,736,465,348.14, compared to RMB 6,255,191,129.99 at the end of 2024, showing an increase of about 7.7%[16] - The company's total equity decreased to RMB 1,030,933,357.51 from RMB 1,520,828,937.80, a decline of approximately 32.2%[16] - The total assets as of September 30, 2025, were RMB 7,767,398,705.65, slightly down from RMB 7,776,020,067.79 at the end of 2024[16] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥134,342,496.29, reflecting a significant decrease of 244.17% compared to the same period last year[5] - The cash flow from operating activities showed a net outflow of CNY 134,342,496.29, a significant decline from a net inflow of CNY 93,182,107.03 in the previous year[23] - The net cash flow from financing activities was CNY 308,516,471.61, a recovery from a net outflow of CNY -140,897,860.93 in the previous year[24] Current Assets - As of September 30, 2025, the total current assets amounted to RMB 2,474,529,355.71, an increase from RMB 2,356,168,108.04 as of December 31, 2024, representing a growth of approximately 5%[14] - The company's cash and cash equivalents reached RMB 341,299,148.97, compared to RMB 319,298,053.85 at the end of 2024, indicating an increase of about 6.3%[14] - Accounts receivable stood at RMB 789,932,127.43, up from RMB 774,030,929.34, reflecting a rise of approximately 2%[14] - Inventory increased to RMB 764,912,647.14 from RMB 672,104,387.37, marking a growth of around 13.8%[14] - Cash and cash equivalents at the end of the period totaled CNY 338,222,898.98, up from CNY 321,718,588.23 at the end of the previous year[24] Operating Costs and Revenue - The company reported a total revenue of RMB 1,200,000,000 for the first three quarters of 2025, which is a 10% increase compared to the same period in 2024[17] - Total operating revenue for the first three quarters of 2025 reached CNY 1,007,567,399.33, an increase from CNY 939,093,018.28 in the same period of 2024, representing a growth of approximately 7.3%[19] - Total operating costs increased to CNY 1,433,463,353.90 from CNY 1,316,668,680.24, marking a rise of about 8.9%[19] Research and Development - Research and development expenses increased to CNY 62,356,689.06 from CNY 58,889,926.94, reflecting a focus on innovation[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 96,931[11] Future Plans - The company plans to expand its market presence and invest in new product development to drive future growth[17] Accounting Standards - The new accounting standards or interpretations will be implemented starting from 2025, affecting the financial statements from the beginning of that year[25]

Financial Performance - The company's operating revenue for the current period is CNY 1,892,528,117.08, a decrease of 10.70% compared to the same period last year[2] - The total profit for the current period is CNY 6,295,768.92, reflecting a significant decline of 98.23% year-on-year[2] - The net profit attributable to shareholders of the listed company is CNY -29,131,278.90, down 110.30% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses is CNY -93,373,752.00, a decrease of 134.88% year-on-year[2] - Net profit for the first three quarters of 2025 was CNY 373,930,103.93, a decrease of 64.0% compared to CNY 1,037,247,794.71 in the same period of 2024[18] - Operating profit for the first three quarters of 2025 was CNY 555,157,968.34, down 57.8% from CNY 1,316,952,527.66 in the previous year[18] - Total comprehensive income for the first three quarters of 2025 was CNY 373,586,191.74, a decrease of 63.8% compared to CNY 1,031,127,531.22 in 2024[18] - Basic and diluted earnings per share for the first three quarters of 2025 were CNY 0.26, down from CNY 0.71 in the same period of 2024[18] Cash Flow - The net cash flow from operating activities for the current period is CNY 282,748,959.61, down 51.21% compared to the same period last year[2] - Cash flow from operating activities generated a net amount of CNY 652,386,672.14, down 65.3% from CNY 1,877,383,787.13 in the same period of 2024[21] - In the first three quarters of 2025, the net cash flow from operating activities was approximately $873.87 million, a decrease of 34% compared to $1.32 billion in the same period of 2024[32] - The company reported a total cash inflow from operating activities of approximately $4.86 billion in 2025, down from $5.27 billion in 2024[32] Assets and Liabilities - The total assets at the end of the reporting period amount to CNY 21,152,691,595.40, an increase of 4.40% from the end of the previous year[2] - Current assets as of September 30, 2025, totaled CNY 8,647,950,847.31, an increase from CNY 8,483,148,001.25 at the end of 2024[12] - Total assets reached CNY 21,152,691,595.40 as of September 30, 2025, compared to CNY 20,261,354,969.92 at the end of 2024[14] - Total liabilities increased to CNY 11,553,106,592.99 from CNY 11,241,320,819.01 in the previous year[14] - The total current liabilities rose to CNY 4.84 billion as of September 30, 2025, compared to CNY 4.49 billion at the end of 2024, reflecting an increase of about 7.8%[26] Shareholder Equity - The equity attributable to shareholders of the listed company is CNY 9,509,925,669.11, up 6.88% from the end of the previous year[2] - Shareholders' equity rose to CNY 9,599,585,002.41 as of September 30, 2025, compared to CNY 9,020,034,150.91 at the end of 2024[14] - The total owner's equity reached CNY 13.85 billion as of September 30, 2025, compared to CNY 12.55 billion at the end of 2024, representing an increase of about 10.4%[27] Research and Development - The company is actively promoting its third strategic transformation, focusing on "generic collaboration - global operations - value upgrade" strategy, which has led to a significant increase in R&D expenses by approximately 54% year-on-year[6] - Research and development expenses increased to CNY 829,481,556.27, up 20.7% from CNY 687,452,738.14 in the previous year[18] - Research and development expenses increased to CNY 350.26 million in the first three quarters of 2025, up from CNY 292.00 million in the same period of 2024, marking an increase of approximately 20%[28] Inventory and Operating Costs - The company reported a significant increase in inventory, which stood at CNY 3,813,635,900.31 as of September 30, 2025, compared to CNY 3,413,419,932.83 at the end of 2024[12] - Operating costs included CNY 2,454,250,665.30 for cost of goods sold, down from CNY 2,705,990,778.14 in the same period last year, indicating a reduction of 9.2%[16] - The company's inventory as of September 30, 2025, was CNY 2.44 billion, up from CNY 2.31 billion at the end of 2024, indicating an increase of about 5.7%[25] Investment and Financing Activities - Investment activities resulted in a net cash outflow of CNY 1,109,362,292.91, compared to a net outflow of CNY 1,185,287,884.07 in the same period of 2024[21] - Financing activities generated a net cash inflow of CNY 357,193,072.64, contrasting with a net outflow of CNY 606,211,733.26 in the previous year[23] - Cash inflow from financing activities totaled approximately $3.30 billion in 2025, up from $2.61 billion in 2024[33] Financial Ratios and Margins - The gross margin for the raw material drug business remains relatively stable at approximately 48.45% during the reporting period[7]

重要内容提示： 亿晶光电科技股份有限公司2025 年第三季度报告 证券代码：600537 证券简称：亿晶光电 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。 亿晶光电科技股份有限公司 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。 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 | 374,661,511.81 | -27.96 | 1,555,694,694.26 | -42.58 | | 利润总额 | -63,715,775.13 | 不适用 | -237,205,505.57 | 不适用 | | 归属于上市公司股东的 净利润 ...

Financial Performance - The company's operating revenue for the third quarter reached CNY 2,072,054,887.58, representing a year-on-year increase of 10.84%[5] - Total profit for the quarter was CNY 40,180,098.46, a significant increase of 76.22% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 23,423,851.07, reflecting a year-on-year growth of 38.39%[5] - The basic earnings per share for the quarter was CNY 0.0949, up 38.39% from the previous year[6] - The weighted average return on equity increased to 1.0958%, an increase of 0.2979 percentage points compared to the previous year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses for the year-to-date was CNY 18,702,958.55, showing a substantial increase of 116.27%[5] - Net profit for the first three quarters of 2025 was ¥73,928,235.00, compared to ¥61,305,530.60 in 2024, marking an increase of 20.67%[20] - The total comprehensive income for the first three quarters of 2025 was ¥72,989,303.68, compared to ¥61,371,355.99 in 2024, showing an increase of 19.00%[20] - Basic and diluted earnings per share for the first three quarters of 2025 are both CNY 0.2015, up from CNY 0.1477 in the same period of 2024, representing an increase of approximately 36.3%[22] Assets and Liabilities - Total assets at the end of the quarter amounted to CNY 6,429,554,373.25, marking a 6.87% increase from the end of the previous year[6] - Total current assets as of September 30, 2025, amount to ¥3,848,544,121.83, an increase from ¥3,446,992,852.95 at the end of 2024[15] - Total non-current assets amount to ¥2,581,010,251.42, slightly up from ¥2,569,336,278.06[16] - The company reported a total liability of ¥3,664,514,888.98 as of the latest reporting period, an increase from ¥3,292,780,583.08 in the previous year[17] - The total equity attributable to shareholders reached ¥2,148,264,779.49, up from ¥2,124,247,335.56 in the previous year, reflecting a growth of 1.13%[17] Cash Flow - The company reported a cash flow from operating activities of CNY -154,094,825.94 for the year-to-date, indicating a need for improvement in cash management[5] - Cash inflow from operating activities for the first three quarters of 2025 is CNY 7,035,443,936.00, an increase of 28.8% compared to CNY 5,458,209,108.10 in the same period of 2024[22] - Cash outflow from operating activities for the first three quarters of 2025 is CNY 7,189,538,761.94, compared to CNY 6,097,991,851.23 in the same period of 2024, indicating an increase of approximately 17.9%[22] - The net cash flow from operating activities for the first three quarters of 2025 is -CNY 154,094,825.94, an improvement from -CNY 639,782,743.13 in the same period of 2024[22] - Cash inflow from investing activities for the first three quarters of 2025 is CNY 451,928,027.34, down 19.2% from CNY 559,005,819.86 in the same period of 2024[23] - Cash outflow from investing activities for the first three quarters of 2025 is CNY 454,506,967.81, an increase of 13.5% compared to CNY 400,566,449.27 in the same period of 2024[23] - The net cash flow from investing activities for the first three quarters of 2025 is -CNY 2,578,940.47, a significant decrease from CNY 158,439,370.59 in the same period of 2024[23] - Cash inflow from financing activities for the first three quarters of 2025 is CNY 1,354,450,411.53, an increase of 15.6% compared to CNY 1,171,407,814.82 in the same period of 2024[23] - The ending cash and cash equivalents balance for the first three quarters of 2025 is CNY 661,889,431.75, compared to CNY 621,647,473.95 in the same period of 2024, reflecting an increase of approximately 6.5%[23] Shareholder Information - Total number of common shareholders at the end of the reporting period is 24,657[13] - Jiangsu Suhao Holding Group Co., Ltd. holds 22.46% of shares, making it the largest shareholder[13] Expenses - The company attributed the increase in total profit to business scale growth and a decrease in overall expense ratio[10] - Research and development expenses increased to ¥3,527,748.69 in the first three quarters of 2025, compared to ¥2,319,628.06 in 2024, representing a rise of 52.08%[19] - The company’s financial expenses rose to ¥13,443,510.55 in 2025, compared to ¥8,686,090.57 in 2024, indicating an increase of 54.00%[19] - The company’s cash dividends payable increased to ¥28,064,900.48 from ¥25,454,900.48, reflecting a growth of 6.34%[17] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[10]

Revenue and Profit - Revenue for the third quarter reached ¥7,993,567,123.62, an increase of 12.11% year-over-year[4] - Total profit for the quarter was ¥778,995,622.03, a decrease of 10.01% compared to the same period last year[4] - Net profit attributable to shareholders was ¥671,616,308.85, down 13.65% year-over-year[4] - Total operating revenue for the first three quarters of 2025 reached RMB 20,928,194,722.65, an increase of 8.13% compared to RMB 19,351,994,990.91 in the same period of 2024[20] - The net profit for the first three quarters of 2025 is CNY 1,969,291,235.87, a decrease of 12.14% compared to CNY 2,242,751,865.56 in the same period of 2024[21] - The company reported a total profit of CNY 2,236,438,688.16 for the first three quarters of 2025, down 12.55% from CNY 2,557,249,944.97 in 2024[21] Earnings Per Share - Basic earnings per share for the quarter were ¥0.39, a decrease of 15.22% compared to the same period last year[5] - The basic earnings per share for the first three quarters of 2025 is CNY 1.14, down from CNY 1.33 in the same period of 2024, a decrease of 14.29%[22] Cash Flow and Liquidity - The cash flow from operating activities for the year-to-date period increased by 160.88%, totaling ¥2,971,006,171.39[5][9] - Operating cash flow for the first three quarters of 2025 is CNY 2,971,006,171.39, significantly up from CNY 1,138,834,138.74 in 2024, representing an increase of 161.4%[25] - Cash and cash equivalents as of September 30, 2025, amounted to RMB 4,234,573,262.67, compared to RMB 3,987,765,850.28 at the end of 2024, showing a growth of 6.18%[14] - Cash and cash equivalents at the end of the period are CNY 3,763,923,917.24, compared to CNY 2,191,185,216.74 at the end of 2024, an increase of 71.7%[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥41,664,583,985.39, reflecting a 10.98% increase from the end of the previous year[5] - Total assets as of September 30, 2025, were RMB 41,664,583,985.39, an increase from RMB 37,543,871,905.42 at the end of 2024, representing a growth of 11.66%[16] - Total liabilities increased to RMB 18,354,704,867.89 in 2025 from RMB 17,960,618,429.96 in 2024, marking a rise of 2.19%[16] Shareholders' Equity - Shareholders' equity attributable to the parent company was ¥23,274,156,888.78, up 19.05% year-over-year[5] - Shareholders' equity as of September 30, 2025, was RMB 23,309,879,117.50, up from RMB 19,583,253,475.46 at the end of 2024, reflecting an increase of 19.00%[17] Operational Efficiency - The company has strengthened accounts receivable management, contributing to improved cash flow[9] - The company reported a significant increase in accounts receivable, which rose to RMB 6,827,646,527.99 in 2025 from RMB 6,425,588,731.75 in 2024, a growth of 6.26%[15] - The company’s inventory as of September 30, 2025, was RMB 4,604,733,308.94, compared to RMB 4,000,058,158.99 at the end of 2024, indicating an increase of 15.12%[15] Research and Development - Research and development expenses increased to CNY 1,084,638,063.14 in 2025 from CNY 860,011,495.38 in 2024, reflecting a rise of 26.1%[21] Financial Expenses - The company incurred financial expenses of CNY 31,831,797.74 in 2025, a significant decrease from CNY 118,354,404.48 in 2024, representing a reduction of 73.1%[21] Comprehensive Income - The total comprehensive income for the first three quarters of 2025 is CNY 2,106,102,713.10, slightly down from CNY 2,176,054,155.36 in 2024, a decrease of 3.21%[22] Investment Activities - The company’s investment activities resulted in a net cash outflow of CNY 2,586,657,937.29 in 2025, an improvement from a net outflow of CNY 3,732,211,775.57 in 2024[25]

Financial Performance - The company's operating revenue for Q3 2025 was ¥116,342,568.27, a decrease of 40.01% compared to the same period last year[3]. - The total profit for the period was -¥45,501,356.99, showing an improvement of 64.21% year-over-year[3]. - The net profit attributable to shareholders was -¥45,501,356.99, a 57.08% reduction in losses compared to the previous year[3]. - Total operating revenue for the first three quarters of 2025 was CNY 355,542,958.75, a decrease from CNY 777,185,213.60 in the same period of 2024, representing a decline of approximately 54.4%[19]. - The net loss for the first three quarters of 2025 was CNY 203,932,008.55, compared to a net loss of CNY 440,364,091.48 in the same period of 2024, showing an improvement of approximately 53.7%[21]. Cost Management - The company implemented cost control measures, which helped narrow the net profit loss despite a decline in sales revenue[8]. - Total operating costs for the first three quarters of 2025 were CNY 477,169,540.33, down from CNY 1,019,896,375.51 in 2024, indicating a reduction of about 53.2%[20]. - Research and development expenses totaled ¥4,112,308.07, down 81.84% from the same period last year, reflecting a shift to centralized project management[3][8]. - Research and development expenses for the first three quarters of 2025 were CNY 21,026,066.62, a significant decrease from CNY 66,015,771.17 in 2024, representing a reduction of approximately 68.1%[20]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 9,017[11]. - The largest shareholder, Zhuji Zhaoyuan Investment Co., Ltd., holds 24,000,000 shares, representing 15.09% of total shares[11]. - The top ten shareholders hold significant stakes, with the second-largest shareholder, Zhang Bao, owning 16,560,000 shares (10.41%)[11]. - The company has no significant changes in the participation of major shareholders in margin trading and securities lending[12]. Assets and Liabilities - Total assets at the end of the period were ¥2,011,112,285.55, a decrease of 25.28% from the end of the previous year[3]. - The company's total assets decreased from CNY 2,691,374,545.92 to CNY 2,011,112,285.55, reflecting a reduction of about 25.3%[16]. - Total liabilities decreased from CNY 875,552,909.18 to CNY 421,347,853.37, a decline of approximately 52.0%[16]. - The total equity attributable to shareholders decreased from CNY 1,815,821,636.74 to CNY 1,589,764,432.18, a decline of approximately 12.4%[16]. Cash Flow - The cash flow from operating activities showed a net outflow of -¥396,360,372.80 for the year-to-date, a 7.94% improvement compared to the previous year[3]. - The net cash flow from operating activities for the first three quarters of 2025 was -$396.36 million, compared to -$430.53 million in 2024, showing a slight improvement[23]. - Total cash outflow from operating activities in the first three quarters of 2025 was $873.60 million, down from $1.50 billion in 2024, indicating a reduction of approximately 41.7%[23]. - The net cash flow from investing activities was -$21.57 million in 2025, compared to -$56.74 million in 2024, reflecting a significant improvement[24]. - Cash inflow from financing activities in 2025 was $334.56 million, while cash outflow was $200.30 million, resulting in a net cash flow of $134.26 million[24]. Other Financial Metrics - The basic earnings per share for the period was -¥0.29, an improvement of 56.06% year-over-year[3]. - The weighted average return on equity was -2.56%, a 37.56% improvement compared to the previous year[3]. - The company's basic and diluted earnings per share for the first three quarters of 2025 were both CNY -1.29, compared to CNY -2.76 in the same period of 2024, indicating an improvement in per-share performance[22]. - The company's cash and cash equivalents as of September 30, 2025, amount to ¥85,140,085.53, a decrease from ¥399,357,384.14 at the end of 2024[14]. - The ending cash and cash equivalents balance for the first three quarters of 2025 was $64.01 million, compared to $124.64 million in 2024, a decrease of approximately 48.7%[24]. Operational Notes - There are no other important reminders regarding the company's operational situation during the reporting period[13]. - The company will implement new accounting standards starting in 2025, which may affect the financial statements[25].

Financial Performance - The company's operating revenue for the third quarter was CNY 2,347,288,610.37, a decrease of 4.73% compared to the same period last year[3] - The total profit for the third quarter was CNY 102,356,891.42, down 49.25% year-on-year[3] - The net profit attributable to shareholders was CNY 42,559,019.68, reflecting a decline of 68.16% compared to the previous year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 729,985.22, a significant drop of 98.11% year-on-year[3] - The basic earnings per share for the third quarter was CNY 0.038, down 68.07% from the same period last year[3] - Total operating revenue for the first three quarters of 2025 was CNY 7,708,610,673.84, a decrease of 9.3% compared to CNY 8,499,249,665.03 in the same period of 2024[19] - Net profit for the first three quarters of 2025 was CNY 141,424,164.72, a decline of 67.9% from CNY 439,795,902.17 in the same period of 2024[20] - Total comprehensive income for the period was CNY 141,424,164.72, a decrease from CNY 439,591,553.03 in the previous year[21] - Basic earnings per share decreased to CNY 0.110 from CNY 0.377 year-over-year[21] Assets and Liabilities - The total assets at the end of the reporting period were CNY 39,932,083,474.83, a decrease of 4.17% from the end of the previous year[3] - The company's total assets amounted to CNY 39,932,083,474.83, a decrease from CNY 41,669,690,089.98 year-over-year[18] - Total liabilities decreased to CNY 19,716,410,560.92 from CNY 21,403,869,433.60, indicating a reduction of 7.9%[18] - The company's total equity attributable to shareholders was CNY 19,611,009,387.38, a slight decrease from CNY 19,657,109,195.25[18] - Long-term equity investments were CNY 2,094,467,136.74, slightly down from CNY 2,050,667,913.33, indicating a decrease of 2.7%[17] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 1,225,764,066.96, down 25.19%[3] - Cash inflows from operating activities totaled CNY 22,764,457,393.81, down from CNY 25,607,017,290.24 in the same period last year, representing a decline of approximately 11.4%[22] - Net cash flow from operating activities was CNY 1,225,764,066.96, compared to CNY 1,638,526,238.89 in the previous year, reflecting a decrease of about 25.2%[23] - Cash outflows from investing activities amounted to CNY 5,784,896,825.61, significantly higher than CNY 2,352,026,384.82 in the prior year, indicating an increase of approximately 145.5%[23] - Net cash flow from investing activities was negative at CNY -869,048,247.27, an improvement from CNY -1,803,104,725.75 year-over-year[23] - Cash and cash equivalents at the end of the period were CNY 6,418,347,349.38, down from CNY 8,297,269,758.18 in the previous year[23] - Total cash inflows from financing activities were CNY 28,985,000.00, a decrease from CNY 262,287,800.00 in the previous year[23] - Net cash flow from financing activities was CNY -1,687,160,734.81, compared to CNY -1,627,346,654.02 in the previous year, indicating a slight increase in outflows[23] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 101,271[10] Strategic Initiatives - The company launched a series of activities themed "All Good Things Come at the Right Time" to enhance customer engagement and brand presence[13] - The company emphasized the importance of cultural engagement in driving future growth and market momentum[13] - The company’s digital and cultural retail categories, including digital products and cultural creative items, showed significant growth[13] - The company’s service retail categories, such as dining and entertainment, also experienced strong growth during the reporting period[13] - The company opened its duty-free store in Changsha, enhancing its market presence[13] Investments - The company reported non-recurring gains and losses totaling CNY 41,829,034.46 for the current period[6] - The company reported a cash balance of approximately RMB 7.22 billion as of September 30, 2025, down from RMB 8.77 billion at the end of 2024[15] - The company has invested RMB 7.49 billion in structured deposit products using idle funds, with an authorization limit of RMB 15 billion[14] - The company’s trading financial assets increased to RMB 1.97 billion from RMB 1.21 billion year-on-year[15] - The accounts receivable increased to approximately RMB 344.45 million from RMB 321.20 million year-on-year[15] - The company's financial expense of CNY 278,400,535.83 increased from CNY 161,606,572.73 in the previous year[19]

Financial Performance - The company's operating revenue for the third quarter was CNY 257.82 million, a decrease of 12.21% compared to the same period last year[3]. - The total profit for the third quarter was CNY 32.40 million, with a year-to-date total profit of CNY 72.55 million, reflecting an increase of 1,285.14% year-on-year[3]. - The net profit attributable to shareholders for the third quarter was CNY 31.70 million, with a year-to-date net profit of CNY 74.72 million, showing an increase of 815.30% year-on-year[3]. - The basic earnings per share for the third quarter was CNY 0.61, representing a significant increase of 2,950% compared to the same period last year[4]. - Total operating revenue for the first three quarters of 2025 reached ¥889,589,604.26, an increase of 7.2% compared to ¥830,072,363.80 in the same period of 2024[20]. - Net profit for the first three quarters of 2025 was ¥74,674,015.47, significantly up from ¥8,163,082.64 in the same period of 2024, marking an increase of 815.5%[21]. - Basic earnings per share for the first three quarters of 2025 were ¥1.44, compared to ¥0.16 in the same period of 2024[22]. - Operating profit for the first three quarters of 2025 was ¥72,544,939.78, compared to ¥5,096,889.74 in the same period of 2024, showing a substantial increase[21]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 2,106.62 million, an increase of 1.85% from the end of the previous year[4]. - The company's total current assets as of September 30, 2025, amount to ¥1,675,191,700.38, an increase from ¥1,611,754,080.92 as of December 31, 2024[15]. - Total assets as of September 30, 2025, are ¥2,106,615,011.93, compared to ¥2,068,435,147.04 at the end of 2024[16]. - Total liabilities decreased to ¥386,492,917.32 from ¥448,699,337.53[16]. - The total equity attributable to shareholders increased to ¥1,718,964,905.06 from ¥1,619,735,809.51, representing a growth of 6.1%[18]. - The company's accounts receivable decreased to ¥293,165,300.34 from ¥409,031,078.57[15]. - Inventory decreased to ¥255,343,014.50 from ¥302,418,530.74[15]. - Non-current assets total ¥431,423,311.55, down from ¥456,681,066.12[16]. Cash Flow - The net cash flow from operating activities for the year-to-date period was CNY 174.14 million, an increase of 26.70% year-on-year[3]. - The company reported a net cash inflow from operating activities of ¥528,424,559.03, slightly up from ¥524,677,950.94 in the same period of 2024[24]. - The net cash flow from operating activities was $174,140,805.61, an increase from $137,446,110.90 in the previous period, representing a growth of approximately 27%[25]. - Cash inflow from investment activities totaled $3,168,484,564.78, significantly higher than $1,084,072,550.04 in the prior period, indicating a year-over-year increase of about 193%[25]. - The net cash flow from investment activities was -$413,465,905.53, a decline from a positive cash flow of $39,194,590.82 previously, reflecting a negative shift in investment performance[25]. - The total cash and cash equivalents at the end of the period stood at $149,198,482.35, down from $362,445,665.80 at the end of the previous period, indicating a decrease of approximately 59%[26]. - Cash received from the recovery of investments was $3,161,000,000.00, a substantial increase compared to $1,079,000,000.00 in the prior period, marking a growth of about 193%[25]. - The company paid $5,181,252.16 in dividends and interest, a decrease from $14,766,463.60 in the previous period, reflecting a reduction of approximately 65%[26]. - The cash outflow for investment activities was $3,581,950,470.31, compared to $1,044,877,959.22 in the previous period, indicating a significant increase in investment spending[25]. - The cash inflow from operating activities totaled $540,944,565.84, slightly down from $571,929,449.56 in the previous period, showing a decrease of about 5%[25]. - The company reported a total cash outflow from operating activities of $366,803,760.23, down from $434,483,338.66 in the previous period, indicating a decrease of approximately 16%[25]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 4,517[11]. - The largest shareholder, Wang Heping, holds 25.66% of shares with 13,397,369 shares[12]. - The company has no significant changes in shareholder financing or margin trading activities[12]. Research and Development - Research and development expenses totaled CNY 27.68 million in the third quarter, accounting for 10.73% of operating revenue, a decrease of 2.59 percentage points year-on-year[4]. - Research and development expenses for the first three quarters of 2025 were ¥96,828,930.70, down 25.5% from ¥129,983,524.82 in the same period of 2024[21]. - The increase in net profit is attributed to improved cost structure and a decrease in R&D expenses, along with increased credit impairment gains[8].