Financial Performance - The company's operating revenue for the third quarter was ¥826,259,566.82, an increase of 10.48% compared to the same period last year[5] - The total profit for the third quarter was a loss of ¥43,969,239.89, representing a decrease of 2,695.10% year-on-year[5] - The net profit attributable to shareholders for the third quarter was a loss of ¥44,145,877.42, a decline of 2,716.46% compared to the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses for the third quarter was a loss of ¥45,951,154.09, down 3,880.02% year-on-year[5] - The net profit for the first three quarters of 2025 was a loss of ¥78,707,243.91, compared to a profit of ¥2,931,371.84 in the same period of 2024, indicating a significant decline in profitability[21] - The net profit attributable to the parent company was a loss of ¥78,823,583.03, compared to a profit of ¥2,523,323.83 in the previous period[23] - The net profit for the first three quarters of 2025 was a loss of ¥77,055,769.88, compared to a profit of ¥2,720,491.20 in the first three quarters of 2024, indicating a significant decline[32] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥3,695,622,072.35, an increase of 1.04% from the end of the previous year[6] - The total assets amounted to ¥3,695,622,072.35, slightly up from ¥3,657,663,667.41, indicating a growth of 1.0%[18] - The total assets as of September 30, 2025, amounted to ¥3,730,326,555.04, compared to ¥3,678,319,619.18 at the end of 2024, indicating an increase of approximately 1.4%[27] - The total liabilities as of September 30, 2025, were ¥2,565,233,938.52, up from ¥2,448,568,289.67, an increase of 4.8%[18] - The total liabilities increased to ¥2,580,098,260.90 in 2025 from ¥2,451,035,555.16 in 2024, reflecting a growth of approximately 5.3%[29] - The company's retained earnings showed a decline, with a negative balance of ¥447,051,314.11 as of September 30, 2025, compared to a negative balance of ¥368,227,731.08 at the end of 2024[18] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥155,100,148.21, an increase of 54.50%[6] - The operating cash flow for the first three quarters of 2025 was ¥155,100,148.21, an increase from ¥100,388,904.90 in the same period of 2024, representing a growth of approximately 54.6%[25] - The company's cash and cash equivalents increased to ¥524,582,517.37 as of September 30, 2025, compared to ¥345,148,161.89 at the end of 2024, representing a growth of 52.0%[16] - Total cash and cash equivalents at the end of the period reached ¥235,690,817.52, up from ¥219,147,923.73 at the end of the previous year[26] - The cash and cash equivalents at the end of the period increased to ¥173,142,589.22 in 2025 from ¥136,050,683.76 in 2024, marking an increase of about 27.3%[36] - The cash flow from financing activities generated a net cash inflow of ¥51,675,886.50 in 2025, contrasting with a net outflow of ¥10,353,843.45 in 2024, indicating a positive shift[36] Inventory and Receivables - Accounts receivable rose to ¥555,956,435.97 from ¥480,713,396.46, marking an increase of 15.6% year-on-year[16] - Inventory decreased to ¥835,313,636.55 from ¥969,215,135.41, a decline of 13.8%, indicating improved inventory management[16] - The company's inventory decreased to ¥773,671,447.08 from ¥909,234,104.39, reflecting a reduction of about 15%[27] Competition and Market Conditions - The company faced significant challenges due to intensified domestic market competition and international trade policies, leading to a decline in product prices and overall performance[14] - The company experienced substantial foreign exchange losses due to fluctuations in the RMB exchange rate, further impacting its financial results[14] Research and Development - Research and development expenses for the first three quarters of 2025 were ¥113,908,903.06, up from ¥104,902,443.55 in 2024, representing an increase of about 8.6%[32] Financial Ratios - The basic earnings per share for the third quarter was -¥0.070, a decrease of 2,433.33% year-on-year[6] - The basic earnings per share were reported at -0.1250, compared to 0.0040 in the previous period, indicating a significant decline[23]

新凤鸣集团股份有限公司 2025 年第三季度报告 证券代码：603225 证券简称：新凤鸣 新凤鸣集团股份有限公司 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。 （一） 主要会计数据和财务指标 单位：元 币种：人民币 | | | | | 本报告 期比上 | | | | 年初至 报告期 末比上 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 上年同期 | | 年同期 | | 上年同期 | | 年同期 | | 项目 | 本报告期 | | | 增减变 | 年初至报告期末 | | | 增减变 | | | | | | 动幅度 | | | | | | | | | | (%) | | | | 动幅度 | | | | | | | | | | (%) | | | | 调整前 ...

Financial Performance - The company's operating revenue for the third quarter was ¥219,454,869.20, a decrease of 35.78% compared to the same period last year[4] - The total profit for the quarter was ¥4,878,885.17, while the net profit attributable to shareholders was a loss of ¥229,015.25[4] - Year-to-date revenue reached ¥687,748,563.45, reflecting a decline of 31.24% year-over-year[4] - The company reported a basic and diluted earnings per share of -¥0.001 for the quarter[5] - The decline in revenue was primarily attributed to a decrease in the photovoltaic business segment[9] - Total operating revenue for the first three quarters of 2025 was RMB 687,748,563.45, a decrease of 31.2% compared to RMB 1,000,165,803.82 in the same period of 2024[19] - The company reported a net loss of RMB 169,594,716.34 for the first three quarters of 2025, compared to a net loss of RMB 158,803,132.88 in the same period of 2024[18] - Net profit attributable to the parent company for the first three quarters of 2025 was -¥10.79 million, compared to -¥28.94 million in the same period of 2024, showing an improvement of 62.7%[21] - The net profit for the first three quarters of 2025 was a loss of ¥2,568,027.56, an improvement from a loss of ¥5,699,644.87 in the same period of 2024, reflecting a reduction in losses of approximately 55.1%[31] - The company reported a total comprehensive loss of -2,568,027.56 RMB, compared to -5,699,644.87 RMB in the previous year[32] Cash Flow and Liquidity - The net cash flow from operating activities for the quarter was ¥47,049,216.76, showing an increase compared to ¥43,044,036.35 in the previous year[5] - Cash flow from operating activities for the first three quarters of 2025 was ¥43.04 million, compared to a negative cash flow of -¥55.22 million in the same period of 2024, indicating a turnaround[24] - The company reported a net increase in cash and cash equivalents of -¥183.71 million for the first three quarters of 2025, compared to -¥198.16 million in the same period of 2024[25] - The company's cash and cash equivalents were reported at RMB 188,503,583.02, a significant decrease from RMB 358,187,551.42 at the end of 2024[16] - The company's cash flow from tax refunds increased to 2,345,434.88 RMB from 30,671.56 RMB year-over-year[32] - The cash inflow from operating activities was 156,927,984.71 RMB, a decrease from 178,859,887.52 RMB year-over-year[32] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,300,329,675.75, down 13.53% from the previous year[5] - Current assets totaled RMB 892,331,628.60, a decrease of 26.4% from RMB 1,213,798,834.57 as of December 31, 2024[16] - Non-current assets were valued at RMB 1,407,998,047.15, a decrease of 2.6% from RMB 1,446,465,762.47 at the end of 2024[17] - Total liabilities amounted to RMB 756,029,486.03, down from RMB 1,107,870,284.11, indicating a decline of 31.7%[18] - Total current assets as of September 30, 2025, amounted to ¥364,636,146.76, slightly down from ¥372,299,461.62 at the end of 2024[27] - Total liabilities as of September 30, 2025, were ¥267,712,856.95, a decrease from ¥275,243,412.19 at the end of 2024[28] Shareholder Information - The equity attributable to shareholders decreased by 0.70% to ¥1,526,307,366.69 compared to the end of the previous year[5] - The total number of ordinary shareholders at the end of the reporting period was 16,571[12] - The company’s equity attributable to shareholders was RMB 1,526,307,366.69, slightly down from RMB 1,537,098,950.15 at the end of 2024[18] Operating Costs and Expenses - Total operating costs for the first three quarters of 2025 amounted to ¥681.39 million, a decrease from ¥1,011.54 million in the same period of 2024, representing a reduction of approximately 32.5%[20] - Operating costs for the first three quarters of 2025 were ¥187,706,902.38, compared to ¥137,397,112.63 in 2024, indicating an increase of about 36.7%[31] - Research and development expenses for the first three quarters of 2025 were ¥21.46 million, down from ¥26.02 million in the same period of 2024, indicating a reduction of 17.5%[20] - Research and development expenses for the first three quarters of 2025 were ¥1,689,737.50, comparable to ¥1,682,844.22 in the same period of 2024[31] Investment Activities - Cash flow from investing activities for the first three quarters of 2025 was -¥76.34 million, an improvement from -¥234.31 million in the same period of 2024[25] - The company received 23,000,000.00 RMB from investment recoveries, a significant increase from 500,000.00 RMB in the previous year[32] - The cash outflow for investment activities was 165,491,359.74 RMB, down from 423,282,600.00 RMB in the same period last year[34]

贵州省交通规划勘察设计研究院股份有限公司 2025 年第三季度报告 证券代码：603458 证券简称：勘设股份 贵州省交通规划勘察设计研究院股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假记载、误 导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 | | | | 单位：元 | 币种：人民币 | | --- | --- | --- | --- | --- | | | | 本报告期 | | 年初至报告 | | 项目 | 本报告期 | 比上年同 | 年初至报告期末 | 期末比上年 | | | | 期增减变 | | 同期增减变 | | | | 动幅度(%) | | 动幅度(%) | | 营业收入 | 315,4 ...

Financial Performance - The company's operating revenue for the third quarter was ¥28,252,959.22, an increase of 0.29% compared to the same period last year[5] - Total profit for the quarter reached ¥83,779,906.28, representing a significant increase of 151.36% year-over-year[5] - Net profit attributable to shareholders was ¥65,646,361.79, up by 130.60% compared to the same quarter last year[5] - The basic earnings per share for the quarter was ¥0.05, reflecting a 150% increase year-over-year[6] - The weighted average return on equity increased to 1.32%, up by 0.75 percentage points from the previous year[6] - The company's net profit for the year-to-date period was ¥198,472,572.49, an increase of 57.37% compared to the same period last year[5] - Total operating revenue for the first three quarters of 2025 was CNY 84,569,287.62, slightly down from CNY 84,686,299.15 in the same period of 2024, representing a decrease of approximately 0.14%[20] - Net profit for the first three quarters of 2025 was CNY 198,472,572.49, an increase of 57.2% compared to CNY 126,114,950.80 in 2024[21] - Earnings per share (EPS) for the first three quarters of 2025 was CNY 0.15, up from CNY 0.09 in the same period of 2024, indicating a growth of 66.7%[22] - The total comprehensive income for the first three quarters of 2025 was CNY 174,807,771.85, down from CNY 279,548,518.92 in 2024, indicating a decrease of about 37.4%[31] Asset Management - Total assets at the end of the quarter were ¥6,881,486,790.83, a decrease of 2.54% from the end of the previous year[6] - Current assets amounted to CNY 1,914,810,421.98, down from CNY 2,026,165,374.14 in the previous period[18] - The company holds a total of CNY 360,107,367.98 in inventory, slightly up from CNY 359,067,583.29[18] - The company’s financial performance indicates a need for strategic adjustments in asset management given the decline in total assets and current assets[17] - Total assets as of September 30, 2025, were CNY 6,882,326,909.87, down from CNY 7,061,713,621.94 at the end of 2024, a decrease of about 2.54%[26] Liabilities and Equity - Total liabilities decreased from CNY 2,010,269,989.87 in 2024 to CNY 1,703,104,706.88 in 2025, a decline of approximately 15.2%[20] - The company's total equity increased to CNY 5,178,382,083.95 in 2025 from CNY 5,050,651,776.23 in 2024, reflecting a growth of about 2.5%[20] - Total liabilities decreased to CNY 1,703,104,706.88 from CNY 2,010,269,989.87, a reduction of approximately 15.3%[28] Cash Flow - Cash flow from operating activities for the year-to-date period was ¥98,792,006.67, down by 12.89% year-over-year[6] - Cash inflow from investment activities increased to CNY 860,965,702.83, compared to CNY 681,278,704.19, marking an increase of approximately 26.5%[24] - Net cash flow from investment activities was CNY 78,796,989.73, up from CNY 47,011,363.16, reflecting a growth of around 77%[24] - The net cash flow from operating activities for the first three quarters of 2025 was CNY 98,889,095.62, compared to CNY 113,368,850.28 in 2024, reflecting a decline of approximately 12.8%[33] - The net cash flow from financing activities for the first three quarters of 2025 was -CNY 398,928,097.20, compared to -CNY 210,782,307.08 in 2024, indicating a worsening of approximately 89.3%[34] Investment and Financial Activities - The company reported a 46.21% increase in trading financial assets due to the rise in fair value of financial investments[10] - The company incurred a credit impairment loss of CNY 1,460,206.81, which is higher than the loss of CNY 666,252.09 recorded in the same period last year[31] - The cash received from investment income in the first three quarters of 2025 was CNY 140,350,367.19, significantly higher than CNY 72,789,892.87 in 2024, representing an increase of approximately 92.8%[33] - The company reported a fair value change gain of CNY 119,830,435.11, compared to a loss of CNY 34,584,553.96 in the previous period, showing a significant turnaround[31] Shareholder Structure - The company’s shareholder structure shows that the largest shareholder, Chongqing International Trust Co., Ltd., holds 14.96% of the shares, with a total of 198,800,171 shares[15] Financial Expenses - Financial expenses decreased significantly from CNY 23,950,669.31 in 2024 to CNY 18,969,468.84 in 2025, a reduction of approximately 20.8%[20] - The interest expenses for the first three quarters were CNY 35,265,624.86, down from CNY 49,062,000.25, indicating a decrease of about 28.2%[30]

Financial Performance - The company's operating revenue for Q3 2025 was ¥678,788,750.35, a decrease of 1.14% compared to the same period last year[3]. - The total profit for the period was ¥132,294,794.51, down 2.16% year-on-year[3]. - Net profit attributable to shareholders was ¥119,873,270.99, reflecting a decline of 4.01% compared to the previous year[3]. - The basic earnings per share for the period was ¥0.27, down 3.57% from the same period last year[3]. - Total operating revenue for the first three quarters of 2025 was CNY 2,039,415,111.57, a decrease of 7.15% compared to CNY 2,196,144,667.20 in the same period of 2024[18]. - Net profit for the first three quarters of 2025 was CNY 400,092,176.31, a decrease of 8.20% compared to CNY 435,972,324.76 in 2024[20]. - Earnings per share for the first three quarters of 2025 were CNY 0.89, down from CNY 0.97 in the same period of 2024[20]. Cash Flow - The net cash flow from operating activities showed a significant negative figure of -¥98,215,174.76, indicating a decrease of 71.38% year-on-year[3][8]. - Cash generated from operating activities in the first three quarters of 2025 was CNY 1,651,901,124.21, an increase from CNY 1,425,756,500.98 in 2024[21]. - The net cash flow from operating activities was -98,215,174.76, an improvement from -343,149,030.75 in the previous period, indicating a significant reduction in cash outflow[22]. - The total cash inflow from operating activities was 1,679,687,400.71, compared to 1,474,086,602.76 in the previous period, indicating growth in operational cash generation[22]. - The total cash outflow from operating activities was 1,777,902,575.47, slightly lower than 1,817,235,633.51, showing improved cost control[22]. - The company received tax refunds amounting to 17,927,709.11, contributing positively to cash flow[22]. - The cash inflow from other operating activities was 30,402,392.67, compared to 27,786,276.50 previously, indicating an increase in operational efficiency[22]. Assets and Liabilities - Total assets increased to ¥11,988,246,160.00, representing a growth of 2.16% compared to the end of the previous year[4]. - Total liabilities increased to CNY 1,462,749,235.97 in 2025 from CNY 1,373,714,607.77 in 2024, representing a rise of 6.49%[16]. - Total assets reached CNY 11,988,246,160.00 in 2025, compared to CNY 11,734,820,256.82 in 2024, marking an increase of 2.17%[16]. - The total current assets amounted to approximately CNY 10.60 billion, slightly up from CNY 10.57 billion at the end of 2024, indicating a growth of 1.1%[14]. - The total non-current assets remained stable at CNY 60 million for long-term equity investments[14]. Research and Development - Research and development expenses totaled ¥53,307,336.70, accounting for 7.85% of operating revenue, a decrease of 2.43 percentage points from the previous year[4]. - Research and development expenses for the first three quarters of 2025 were CNY 141,910,215.32, down from CNY 173,539,018.20 in 2024, indicating a decrease of 18.25%[19]. Shareholder Information - The company has not reported any significant changes in shareholder relationships or actions during the reporting period[12]. - There are no applicable reminders for investors regarding the company's operational situation during the reporting period[13]. - The company has not engaged in any financing or margin trading activities that would affect the shareholding structure[12]. Other Financial Metrics - The weighted average return on net assets decreased by 0.09 percentage points to 1.15%[3]. - The company reported non-recurring gains of ¥12,968,959.40 for the period, with a total of ¥41,772,106.35 for the year-to-date[6]. - Cash and cash equivalents decreased to CNY 2.85 billion from CNY 3.32 billion, representing a decline of 14.2%[14]. - Accounts receivable increased significantly to CNY 2.23 billion, up from CNY 1.65 billion, reflecting a growth of 35.6%[14]. - Inventory levels rose to CNY 1.26 billion, compared to CNY 1.22 billion, marking an increase of 3.6%[14]. - The company reported a total of CNY 2.56 billion in trading financial assets, down from CNY 2.94 billion, a decrease of 12.8%[14]. - Deferred income tax assets increased to CNY 51,762,231.09 in 2025 from CNY 46,516,568.18 in 2024, showing an increase of 11.67%[16]. - Cash inflow from investment activities totaled 6,918,266,583.69, compared to 6,972,869,025.13 in the prior period, showing a slight decrease[22]. - The net cash flow from investment activities was 1,182,947,571.88, a substantial increase from -4,839,445.88 previously, reflecting a positive turnaround[22]. - Cash outflow from financing activities amounted to 165,760,414.18, down from 245,695,619.27, indicating reduced financing costs[24]. - The net cash flow from financing activities was -162,322,642.83, an improvement from -242,623,627.82 in the previous period, suggesting better management of financing[24]. - The cash and cash equivalents at the end of the period stood at 2,201,918,143.00, down from 3,466,178,665.31, reflecting a decrease in liquidity[24].

Financial Performance - The company's operating revenue for Q3 2025 was ¥253,787,720.34, representing a year-on-year increase of 34.47%[3] - Year-to-date operating revenue reached ¥704,750,026.54, reflecting a 54.30% increase compared to the same period last year[3] - The total profit for the period was -¥94,569,209.11, with a year-to-date total profit of -¥316,868,839.63, indicating significant losses[3] - The net profit attributable to shareholders for Q3 was -¥75,177,210.96, and year-to-date net profit was -¥254,393,496.16[3] - The net loss for the first three quarters of 2025 was ¥254,443,147.50, compared to a net loss of ¥513,294,666.77 in the same period of 2024, showing an improvement of approximately 50.5%[22] - The operating profit for the first three quarters of 2025 was reported at -¥317,900,984.54, an improvement from -¥564,783,439.14 in 2024[21] - The company recorded a total profit loss of ¥315.16 million for the first three quarters of 2025, an improvement from a loss of ¥562.49 million in the same period of 2024[32] Research and Development - Research and development expenses totaled ¥58,829,661.61 for the quarter, accounting for 23.18% of operating revenue, a decrease of 9.91 percentage points year-on-year[4] - Research and development expenses for the first three quarters of 2025 were ¥174,805,010.58, compared to ¥156,961,254.38 in 2024, reflecting an increase of about 11.4%[21] - Research and development expenses increased to ¥166.42 million, up 9.9% from ¥152.52 million in the first three quarters of 2024[31] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,637,616,280.19, down 5.92% from the end of the previous year[4] - The total liabilities decreased from ¥3,246,050,681.41 in the previous year to ¥3,189,644,865.51 in 2025, a reduction of approximately 1.7%[17] - The total assets decreased from ¥4,929,616,758.84 in the previous year to ¥4,637,616,280.19 in 2025, a decline of about 5.9%[17] - The company's equity attributable to shareholders decreased from ¥1,680,415,196.46 in 2024 to ¥1,443,470,185.05 in 2025, a decrease of approximately 14.1%[17] - Total current assets decreased to ¥1,506,590,818.63 from ¥1,637,101,477.37[15] - The total assets as of September 30, 2025, were CNY 4,619,859,440.79, down from CNY 4,906,464,162.20 at the end of 2024[30] - Current assets decreased to CNY 1,474,118,851.28 in 2025 from CNY 1,607,674,343.44 in 2024[28] - Total liabilities decreased to CNY 3,168,611,035.64 in 2025 from CNY 3,220,852,409.34 in 2024[30] Cash Flow - The company reported a negative cash flow from operating activities of -¥30,648,991.25 for the quarter[3] - Cash inflow from operating activities for the first three quarters of 2025 was CNY 567,013,104.06, an increase of 14.2% compared to CNY 496,526,853.02 in the same period of 2024[25] - Net cash flow from operating activities was negative CNY 94,226,594.34 in 2025, an improvement from negative CNY 334,061,130.64 in 2024[25] - Cash inflow from investment activities totaled CNY 1,373,480,111.35 in 2025, a decrease of 22.7% from CNY 1,776,518,112.75 in 2024[25] - Cash inflow from financing activities was CNY 333,932,327.77 in 2025, up from CNY 218,326,466.13 in 2024[26] Shareholder Information - The total number of common shareholders at the end of the reporting period is 5,720[12] - The largest shareholder, Nanjing Shichuang Venture Capital Co., Ltd., holds 142,941,654 shares, representing 35.74% of total shares[12] - The second-largest shareholder, Nanjing Sicheng Venture Capital Partnership, holds 137,231,879 shares, accounting for 34.31%[12] - The total number of shares held by the top ten shareholders includes significant stakes from both domestic and foreign investors[13] - The company has not reported any changes in the participation of major shareholders in securities lending activities[13] Other Financial Metrics - The weighted average return on equity was -5.10% for the quarter, compared to -16.27% year-to-date[4] - The basic and diluted earnings per share for the first three quarters of 2025 were both -¥0.64, compared to -¥1.29 in the same period of 2024, indicating an improvement in loss per share[22] - Deferred income tax assets increased from ¥150,911,735.56 in the previous year to ¥214,236,421.30 in 2025, an increase of approximately 42%[17] - The company's retained earnings showed a significant decline, with a loss of CNY 267,117,925.67 in 2025 compared to a loss of CNY 15,306,093.21 in 2024[30] - Financial expenses increased significantly to ¥52.71 million, compared to a financial income of ¥4.28 million in the same period of 2024[31]

Financial Performance - The company's operating revenue for Q3 2025 was CNY 31.58 million, a decrease of 80.60% compared to CNY 162.76 million in the same period last year[4] - The total profit for the period was CNY -162.22 million, with a year-to-date total profit of CNY -363.17 million, indicating a significant loss[4] - The net profit attributable to shareholders was CNY -148.04 million for the quarter, compared to CNY -116.66 million in the same period last year, reflecting a worsening financial position[5] - The company experienced a 67.31% decline in year-to-date operating revenue, primarily due to a decrease in fuel cell system sales[9] - Net loss for the first three quarters of 2025 was CNY 361.54 million, compared to a net loss of CNY 318.48 million in the same period of 2024, representing an increase in loss of 13.52%[21] - The basic and diluted earnings per share for the first three quarters of 2025 were both CNY -1.34, compared to CNY -1.11 in 2024[21] Research and Development - Research and development expenses totaled CNY 11.06 million, a decrease of 64.81% year-on-year, indicating a reduction in forward-looking R&D projects[5] - The company has adjusted its R&D strategy, focusing on optimizing traditional projects rather than pursuing new forward-looking initiatives[9] - Research and development expenses decreased to CNY 25.93 million in 2025 from CNY 70.48 million in 2024, a reduction of 63.24%[20] Assets and Liabilities - The total assets at the end of the reporting period were CNY 410.94 million, down 14.01% from the previous year[5] - Total assets decreased to CNY 4.11 billion in 2025 from CNY 4.78 billion in 2024, a decline of 13.94%[17] - Total liabilities decreased to CNY 1.61 billion in 2025 from CNY 1.94 billion in 2024, a reduction of 16.88%[17] - The company's total equity decreased to CNY 2.50 billion in 2025 from CNY 2.84 billion in 2024, a decline of 12.09%[17] Shareholder Information - Total number of common shareholders at the end of the reporting period is 15,687[11] - The largest shareholder, Zhang Guoqiang, holds 36,444,469 shares, representing 15.73% of total shares[11] - The second largest shareholder, HKSCC Nominees Limited, holds 35,859,552 shares, representing 15.48% of total shares[11] - The company has a total of 7,035,902 shares held by Dongxu Optoelectronics Technology Co., Ltd., which are frozen[11] Cash Flow - The cash flow from operating activities showed a net amount of CNY 461.05 million year-to-date, a significant improvement from CNY -22.14 million in the previous year[5] - The company's operating cash flow for the first three quarters of 2025 was CNY 4,610,526.09, a significant improvement from a negative cash flow of CNY -221,360,346.09 in the same period of 2024[23] - Total cash inflow from operating activities increased to CNY 417,909,302.03, up from CNY 286,508,997.41 year-over-year, representing a growth of approximately 46%[23] - Cash outflow from operating activities decreased to CNY 413,298,775.94 from CNY 507,869,343.50, indicating a reduction of about 19%[23] - The net cash and cash equivalents at the end of the period were CNY 448,482,429.94, down from CNY 569,890,670.26 year-over-year[24] Investment Activities - The company reported an investment loss of CNY 47.96 million in 2025, compared to a loss of CNY 26.67 million in 2024, indicating a worsening of 79.93%[20] - Investment activities generated a net cash outflow of CNY -32,651,452.23, slightly improved from CNY -34,658,537.73 in the previous year[24] - The company raised CNY 30,090,000.00 from new investments, compared to CNY 5,250,000.00 in the same period last year, marking a growth of 471%[24] - The company reported a total cash inflow from investment activities of CNY 236,070,538.50, a significant increase from CNY 11,420,043.93 in the previous year[24] Other Financial Metrics - The weighted average return on net assets decreased to -6.36%, a decline of 2.27 percentage points compared to the previous year[5] - The company reported a decrease in cash flow from operating activities, reflecting ongoing financial challenges[20] - The impact of exchange rate changes on cash and cash equivalents was a decrease of CNY -3,464,489.21, compared to CNY -2,121,058.27 in the same period last year[24]

招商证券股份有限公司 2025 年第三季度报告 证券代码：600999 证券简称：招商证券 招商证券股份有限公司 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、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 公司负责人霍达、主管会计工作负责人刘杰及会计机构负责人（会计主管人员）王剑平保证季度 报告中财务信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 单位：元 币种：人民币 | | | 本报告期比 | | 年初至报告期 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期增 | 年初至报告期末 | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 7,723,453,121.57 | 64.8 ...

Financial Performance - The company's operating revenue for the third quarter was CNY 133,465,624.97, representing a year-on-year increase of 5.55%[4] - The total profit for the quarter was CNY 9,454,195.68, showing a significant decrease of 51.01% compared to the same period last year[4] - The net profit attributable to shareholders was CNY 8,195,589.23, down 55.75% year-on-year[4] - The net profit after deducting non-recurring gains and losses was CNY 5,172,167.09, a decrease of 46.10% compared to the previous year[4] - The basic earnings per share for the quarter was CNY 0.0312, reflecting a decline of 55.78% year-on-year[5] - The total profit for the current reporting period was negative RMB 51.01 million, with net profit attributable to shareholders also negative at RMB 55.75 million[10] - The total profit for the year-to-date was RMB 176.42 million, driven by the recovery of bad debt provisions and significant growth in construction business revenue[10] - Net profit for the first three quarters of 2025 was ¥31,435,679.29, up from ¥12,172,664.40 in 2024, reflecting a growth of approximately 158%[23] Assets and Liabilities - The total assets at the end of the reporting period were CNY 853,306,681.67, a decrease of 2.02% from the end of the previous year[5] - The company's total assets decreased from ¥870,920,562.88 in the previous year to ¥853,306,681.67, a decline of about 2%[19] - Total liabilities decreased from ¥382,792,395.18 to ¥333,742,834.68, representing a reduction of approximately 13%[19] - The company's cash and cash equivalents decreased from ¥61,110,222.74 to ¥38,176,812.98, a decline of about 38%[17] - Accounts receivable decreased from ¥232,954,069.69 to ¥221,803,588.21, a reduction of approximately 5%[17] - The company's inventory decreased from ¥168,550.79 to ¥130,701.58, a decline of about 22%[17] - The total equity attributable to shareholders increased from ¥468,915,809.98 to ¥500,008,606.20, reflecting a growth of approximately 7%[19] Cash Flow - The company reported a net cash flow from operating activities of CNY -17,965,112.79 for the year-to-date[4] - The net cash flow from operating activities was negative, reflecting a decrease compared to the same period last year due to increased business volume[10] - Cash inflow from operating activities totaled CNY 447,715,703.35, down from CNY 684,146,927.38 in the same period last year, reflecting a decrease of approximately 34.6%[26] - Net cash outflow from operating activities was CNY -17,965,112.79, compared to CNY -10,810,543.78 in the previous year[27] - Cash flow from investing activities resulted in a net outflow of CNY -367,976.35, compared to CNY -1,757,401.90 in the same period last year[28] - Cash flow from financing activities generated a net inflow of CNY 6,861,947.37, contrasting with a net outflow of CNY -673,032.57 in the previous year[28] - The ending cash and cash equivalents balance was CNY 45,791,230.27, down from CNY 57,723,911.21 year-over-year[28] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 9,277[13] - The top ten shareholders held a total of 46,949,044 shares, representing 17.88% of the total shares[13] Government Support and Other Income - The company received government subsidies amounting to CNY 241,246.42 during the quarter[7] - Other income for the current period amounted to RMB 1,780.40 million, mainly from office rent subsidies and corporate incentives[10] Research and Development - Research and development expenses for the current period were zero, resulting in a significant decrease compared to the previous year[10] Financial Standards - The company has not adopted new accounting standards or interpretations that would affect the financial statements for the current year[29]