Financial Performance - Q3 2025 revenue reached CNY 12,236,335, a slight decrease of 0.03% year-over-year, while year-to-date revenue increased by 0.29% to CNY 38,131,095[3] - Operating profit for Q3 2025 was CNY 342,170, down 56.29% year-over-year, with year-to-date operating profit at CNY 614,841, a decrease of 3.74%[3] - Net profit attributable to shareholders for Q3 2025 was CNY 24,637, a significant decline of 95.78% year-over-year, while year-to-date net profit dropped 87.76% to CNY 73,330[3] - Total revenue for the period reached 38,131,095 thousand yuan, a slight increase from 38,022,337 thousand yuan in the previous period, representing a growth of approximately 0.29%[30] - Net profit for the period was 76,099 thousand yuan, a significant decrease from 565,099 thousand yuan in the previous period, indicating a decline of approximately 86.5%[31] - Basic earnings per share fell to 0.0081 yuan from 0.0657 yuan, a decrease of approximately 87.66%[31] Cash Flow - The company reported a net cash flow from operating activities of CNY 1,629,184, down 43.25% year-over-year[3] - Cash flow from operating activities decreased by 43.25%, totaling 1,629,184 compared to 2,870,656 in the previous year[14] - Cash inflow from operating activities totaled $39,271,589, slightly down from $39,341,500 in the previous period, reflecting a decrease of approximately 0.18%[33] - The company reported a cash outflow of $37,642,405 from operating activities, an increase from $36,470,844 in the previous period[33] - The company received $38,892,903 in cash from sales of goods and services, a slight decrease from $39,027,175 in the previous period[33] Assets and Liabilities - The total assets at the end of the reporting period were CNY 114,746,573, a decrease of 3.61% from the previous year-end[3] - Current liabilities totaled 84,626,949 thousand yuan, down from 90,171,177 thousand yuan, showing a decrease of approximately 6.1%[28] - The company's total assets decreased to 114,746,573 thousand yuan from 119,042,939 thousand yuan, a reduction of about 3.5%[29] - The total liabilities decreased to 103,435,167 thousand yuan from 107,883,826 thousand yuan, indicating a decline of approximately 4.1%[29] Store Operations - The company opened and renovated 32 new stores in Q3 2025, contributing to a 3.5% year-over-year increase in store sales revenue for the first three quarters[9] - The number of self-operated home appliance and 3C specialty stores decreased by 183, resulting in a total of 890 stores as of September 30, 2025[19] - The company opened 90 new self-operated stores in the first nine months of 2025, while 183 stores were closed[19] Investment and Income - Investment income for the first nine months of 2025 reached 2,654,362, a year-on-year increase of 58.22% compared to 1,677,672 in the same period of 2024[14] - Fair value changes resulted in a gain of 80,309, a significant improvement of 274.19% from a loss of 46,104 in the previous year[14] - The company reported a 39.43% decrease in non-operating income, totaling 173,329 compared to 286,144 in the same period last year[14] Debt and Guarantees - The company aims to improve its debt resolution efforts and asset-liability management, with a reported decrease in the asset-liability ratio by 0.49% since the beginning of the year[10] - Long-term borrowings increased by 31.67%, amounting to 1,893,777 compared to 1,438,279 in the previous year[14] - As of September 30, 2025, the company provided guarantees totaling RMB 1.968 billion to subsidiaries, representing 15.83% of the audited net assets attributable to shareholders for the year 2024[21] - The company has a maximum guarantee limit of RMB 30 billion for subsidiaries to provide guarantees for financing and procurement contracts, valid until the next shareholders' meeting[22] - The actual used guarantee balance from subsidiaries to the company is RMB 15.825 billion, with a total of RMB 8.275 billion provided through real estate mortgages or credit guarantees for financing[23] - The company’s subsidiaries have provided guarantees totaling RMB 7.55 billion for procurement and other business operations[23] - The company has a maximum guarantee limit of RMB 18 billion for subsidiaries to provide guarantees for the parent company and financial institutions[22] Legal and Operational Challenges - The bankruptcy of Hefei Yuejia and Shanghai Linjia has resulted in a loss of control over these entities, reducing the net profit attributable to shareholders by RMB 309 million[25] - The revenue from Hefei Yuejia and Shanghai Linjia for 2024 was RMB 16,470 and RMB 190, respectively, accounting for a negligible percentage of total revenue[25] - The total amount involved in litigation and arbitration as of September 30, 2025, is approximately RMB 236 million[23] - The company has initiated innovative cooperation models with core brand merchants to manage payment arrangements, aiming to alleviate liquidity pressure[24] Cost and Margin - The overall gross margin decreased by 1.52% due to intensified price competition and a higher proportion of low-margin consumer electronics sales[9] - Total operating costs increased to 39,782,301 thousand yuan from 39,161,969 thousand yuan, reflecting a rise of about 1.58%[30] - Research and development expenses rose to 213,839 thousand yuan from 167,373 thousand yuan, reflecting an increase of about 27.7%[30]

上海概伦电子股份有限公司 2025 年第三季度报告 证券代码：688206 证券简称：概伦电子 上海概伦电子股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 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。 公司负责人杨廉峰、主管会计工作负责人但胜钊及会计机构负责人（会计主管人员）秦雯保证季 度报告中财务信息的真实、准确、完整。 （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 | 末比上年同期 | | | | 减变动幅度 | 末 | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 96,166,728.26 | 15.73 | 314,611,408.17 | 12.71 | | ...

云南省贵金属新材料控股集团股份有限公司 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： 云南省贵金属新材料控股集团股份有限公司 2025 年第三季度报告 证券代码：600459 证券简称：贵研铂业 | 经营活动产生的现金流 | 不适用 | 不适用 | 225,276,685.50 | 不适用 | | | --- | --- | --- | --- | --- | --- | | 量净额 | | | | | | | 基本每股收益（元/股） | 0.23 | 35.29 | 0.66 | 11.86 | | | 稀释每股收益（元/股） | 0.23 | 35.29 | 0.66 | 11.86 | | | 加权平均净资产收益率 | 2.38 | 增加 0.51 | 6.86 | 增加 0.24 个百 | | | （%） | | 个百分点 | | 分点 | | | | | | | 本报告期末比 | | | | 本报告期末 | | 上年度末 | 上年度末增减 | | | | | | | 变动幅 ...

Financial Performance - The company's operating revenue for the third quarter was ¥7,307,505,321.15, a decrease of 9.92% compared to the same period last year[4] - The total profit for the quarter was ¥503,392,800.28, down 8.38% year-on-year[4] - The net profit attributable to shareholders was ¥420,384,247.47, reflecting a decline of 13.42% compared to the previous year[4] - The company reported non-recurring gains and losses totaling ¥28,078,540.96 for the quarter[7] - Total operating revenue for the first three quarters of 2025 was CNY 19,565,615,760.18, a decrease of 1.54% compared to CNY 19,872,323,359.42 in the same period of 2024[17] - The company's operating revenue for the first three quarters of 2025 was CNY 142.44 million, down 16.67% from CNY 170.88 million in the same period of 2024[28] - The net profit for the first three quarters of 2025 was CNY 182.31 million, a decline of 52.00% compared to CNY 380.79 million in 2024[29] - The company reported a net profit margin improvement, with net profit for the first three quarters of 2025 expected to stabilize despite revenue fluctuations[17] Cash Flow - The cash flow from operating activities decreased significantly by 65.76% to ¥1,346,849,927.72[4] - Cash flow from operating activities generated a net amount of CNY 2,632,651,830.66, a decrease from CNY 4,313,149,076.49 in the same period last year[21] - Investment activities resulted in a net cash outflow of CNY -851,707,309.57, compared to a net inflow of CNY 1,404,800,659.26 in the previous year[22] - Cash flow from financing activities yielded a net inflow of CNY 1,918,986,635.64, a significant improvement from a net outflow of CNY -7,685,409,519.35 in the prior year[22] - In the first three quarters of 2025, the net cash flow from operating activities was -566,439,308.77, a significant decrease compared to 2,916,903,905.60 in the same period of 2024[32] - Cash outflow for operating activities totaled 3,214,632,942.17 in 2025, compared to 1,706,118,611.54 in 2024[32] Assets and Liabilities - The total assets at the end of the reporting period were ¥131,793,328,799.44, an increase of 4.29% from the end of the previous year[5] - Total current assets reached CNY 24,266,685,433.28 in 2025, up from CNY 18,128,439,440.02 in 2024, marking a growth of 33.9%[13] - Total assets amounted to CNY 131,793,328,799.44 in 2025, compared to CNY 126,367,137,897.71 in 2024, an increase of 4.0%[14] - Total liabilities increased to CNY 100,699,797,338.99 in 2025 from CNY 95,761,458,712.16 in 2024, reflecting a rise of 5.5%[15] - The total assets of the company reached CNY 72.28 billion as of September 30, 2025, compared to CNY 65.26 billion at the end of 2024, marking an increase of approximately 10.00%[26] - Total liabilities rose to CNY 34.17 billion in 2025 from CNY 26.49 billion in 2024, reflecting an increase of about 29.00%[26] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 261,428[10] - The largest shareholder, China Ocean Shipping Group Co., Ltd., holds 35.07% of the shares[10] Equity and Earnings - The weighted average return on equity was 1.36%, a decrease of 0.24 percentage points compared to the same period last year[5] - The company's equity attributable to shareholders rose to CNY 30,714,303,878.01 in 2025 from CNY 30,295,773,944.38 in 2024, a growth of 1.38%[15] - The company reported a basic and diluted earnings per share of CNY 0.1045, up from CNY 0.1019 in the previous period[19] - Total comprehensive income for the current period was CNY 1,323,417,315.55, down from CNY 1,644,202,409.49 in the previous year[19] - The company's total equity decreased to CNY 38.11 billion in 2025 from CNY 38.77 billion in 2024, a decline of approximately 1.71%[26] Costs and Expenses - Total operating costs for the first three quarters of 2025 were CNY 19,454,139,542.15, down from CNY 19,910,903,282.92 in 2024, reflecting a reduction of 2.29%[17] - Operating costs decreased to CNY 143.88 million in 2025 from CNY 165.97 million in 2024, indicating a reduction of approximately 13.33%[28] - Financial expenses increased slightly to CNY 400.99 million in 2025 from CNY 398.91 million in 2024, with interest expenses rising to CNY 396.50 million[29] - The company incurred tax expenses of CNY 316,864,300.58, compared to CNY 173,249,764.10 in the previous period, indicating a rise of approximately 83.0%[18] - Research and development expenses were CNY 538.85 million in 2025, down from CNY 690.49 million in 2024, indicating a reduction of about 22.00%[28]

Financial Performance - The company's operating revenue for the third quarter reached ¥13,320,095,326.63, an increase of 13.28% compared to the same period last year[4] - Total profit for the quarter was ¥871,921,728.89, reflecting a significant increase of 60.88% year-over-year[4] - Net profit attributable to shareholders was ¥288,403,001.45, up by 7.71% compared to the same quarter last year[4] - Total operating revenue for the first three quarters of 2025 reached ¥40.97 billion, an increase of 11.5% compared to ¥36.62 billion in the same period of 2024[19] - Operating profit for the first three quarters of 2025 was ¥2.79 billion, up 99.9% from ¥1.40 billion in the same period of 2024[20] - Net profit attributable to shareholders of the parent company for the first three quarters of 2025 was ¥1.21 billion, representing a 62.5% increase from ¥743 million in the same period of 2024[21] - The company reported a total comprehensive income of ¥2.56 billion for the first three quarters of 2025, compared to ¥1.31 billion in the same period of 2024[20] - The net profit for the first three quarters of 2025 reached CNY 602,388.82 million, a substantial rise from CNY 73,285.86 million in 2024, reflecting a growth of approximately 720%[30] - The total profit for the first three quarters of 2025 was CNY 607,779.65 million, compared to CNY 77,443.47 million in 2024, marking an increase of about 684%[29] Cash Flow and Investments - The net cash flow from operating activities decreased by 50.16% to ¥2,269,502,085.32 due to rising raw material costs[5] - Operating cash inflow for the first three quarters of 2025 reached CNY 47.05 billion, an increase of 3.65 billion or 8.4% compared to CNY 43.47 billion in the same period of 2024[23] - Net cash flow from operating activities decreased to CNY 7.56 billion in 2025 from CNY 9.32 billion in 2024, a decline of 19%[23] - Cash inflow from investment activities totaled CNY 4.84 billion in 2025, significantly higher than CNY 0.997 billion in 2024, marking a 384% increase[24] - Net cash flow from investment activities was negative at CNY -1.44 billion in 2025, an improvement from CNY -2.73 billion in 2024[24] - The company experienced a net cash outflow from operating activities of CNY -25,816.19 million in 2025, an improvement from CNY -37,514.65 million in 2024[31] - Investment activities generated a net cash inflow of CNY 975,325.39 million in 2025, compared to CNY 643,005.48 million in 2024, showing a growth of approximately 52%[32] Assets and Liabilities - Total assets as of the end of the reporting period were ¥114,657,432,186.18, representing a 5.24% increase from the previous year[5] - Total assets increased to ¥114.66 billion from ¥108.95 billion, representing a growth of approximately 5.5%[15] - The company's total liabilities as of the end of the reporting period amounted to ¥61.68 billion, an increase from ¥57.99 billion at the end of the previous year[19] - The company’s total liabilities increased to ¥88.71 billion from ¥82.62 billion, reflecting a growth of approximately 7.5%[15] - The company reported a total non-current asset value of ¥25.95 billion, a slight decrease from ¥26.33 billion[15] - The company’s derivative financial liabilities decreased significantly from ¥61.16 million to ¥0.75 million, indicating a reduction of approximately 98.8%[15] - Total liabilities decreased to CNY 303.37 million in 2025 from CNY 389.50 million in 2024, a reduction of 22%[27] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 75,068, indicating a stable shareholder base[11] - The top shareholder, China Shipbuilding Industry Group, holds 25.01% of the shares, maintaining significant control over the company[12] Research and Development - Research and development expenses for the first three quarters of 2025 were ¥1.96 billion, an increase of 23.4% compared to ¥1.59 billion in the same period of 2024[19] Future Plans - The company plans to continue focusing on cost control and enhancing product profitability, which contributed to the increase in net profit margins[10] - The company plans to continue focusing on investment and expansion strategies to enhance its market position and financial performance in the upcoming quarters[33]

中国海洋石油有限公司 2025 年第三季度报告 证券代码：600938 证券简称：中国海油 公告编号：2025-033 单位：百万元 币种：人民币 中国海洋石油有限公司 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： 中国海洋石油有限公司（以下简称"本公司"或"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。 公司董事长张传江先生、首席财务官穆秀平女士、财务部总经理王宇凡女士声明：保证季度报告中财务 信息的真实、准确、完整。 1.1 按照中国企业会计准则编制的主要财务数据 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 | | | 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 ...

中船海洋与防务装备股份有限公司 2025 年第三季度报告 证券代码：600685 证券简称：中船防务 中船海洋与防务装备股份有限公司 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 | 4,142,484,558.85 | 4.65 | 14,315,121 ...

Financial Performance - The company's operating revenue for Q3 2025 was CNY 499,048,523.37, representing a decrease of 6.75% compared to CNY 535,148,150.83 in the same period last year[5] - The total profit for the quarter was CNY 26,483,713.94, a significant increase of 666.63% from a loss of CNY 50,778,234.58 in the previous year[5] - The net profit attributable to shareholders was a loss of CNY 6,978,598.79, an improvement from a loss of CNY 50,792,897.02 year-over-year[5] - The basic earnings per share for the quarter was -0.0394, improving from -0.2871 in the same period last year[5] - Total operating revenue for the first three quarters of 2025 reached ¥1,729,476,089.48, an increase from ¥1,686,311,991.77 in the same period of 2024, representing a growth of approximately 2.55%[22] - Net profit for the first three quarters of 2025 was ¥90,306,478.66, a significant recovery from a net loss of ¥1,541,919.73 in 2024[23] - The total profit for the first three quarters of 2025 was ¥138,602,075.56, a substantial increase from ¥18,079,464.02 in 2024[23] Cash Flow - The net cash flow from operating activities for the quarter was CNY 37,114,133.37, a decrease of 72.73% compared to CNY 136,082,259.98 in the previous year[5] - The company reported a net cash flow from operating activities of ¥356,903,812.18 for the first three quarters of 2025, compared to ¥319,289,972.61 in 2024, indicating an increase of approximately 11.8%[28] - Cash and cash equivalents at the end of the third quarter of 2025 totaled ¥227,762,335.36, up from ¥107,905,664.53 at the end of the same period in 2024, reflecting a growth of about 110.9%[29] - The company’s financing activities generated a net cash outflow of ¥159,853,222.40 in 2025, an improvement from a net outflow of ¥200,977,775.39 in 2024[29] - The company received cash inflows from financing activities totaling ¥1,012,025,423.80 in 2025, compared to ¥1,515,000,000.00 in 2024, indicating a decrease of approximately 33.3%[29] Assets and Liabilities - The company reported a total asset value of CNY 3,355,214,064.72, a slight decrease of 0.42% from CNY 3,369,366,773.86 at the end of the previous year[5] - Total current assets as of September 30, 2025, amount to ¥987,859,942.38, an increase from ¥929,063,959.47 as of December 31, 2024[17] - Total non-current assets decreased to ¥2,367,354,122.34 from ¥2,440,302,814.39[17] - Total current liabilities are ¥955,613,455.34, down from ¥1,223,474,163.32[18] - Total non-current liabilities increased to ¥1,974,570,029.95 from ¥1,865,958,234.28[18] - Total liabilities amount to ¥2,930,183,485.29, compared to ¥3,089,432,397.60 previously[18] - The total equity attributable to shareholders of the parent company is ¥237,979,819.73, up from ¥221,023,281.42[19] - The company reported a net loss of ¥248,747,888.21 in retained earnings, an improvement from a loss of ¥263,834,096.11[19] Business Developments - The company attributed the improved profit margins to the addition of corrugated paper business and enhanced profitability of acetate fiber products[11] - The company completed the acquisition of a 67% stake in Sichuan Pushi Acetate Fiber Co., Ltd., which contributed to the financial adjustments in the previous year's data[7] Shareholder Information - Total number of common shareholders at the end of the reporting period is 26,100[13] - The largest shareholder, Sichuan Yibin Wuliangye Group Co., Ltd., holds 79,368,520 shares, representing 44.87% of total shares[13] Research and Development - Research and development expenses for the first three quarters of 2025 were ¥36,618,979.73, slightly down from ¥39,647,148.33 in 2024, a decrease of approximately 5.1%[22]

山鹰国际控股股份公司 2025 年第三季度报告 （一） 主要会计数据和财务指标 证券代码：600567 证券简称：山鹰国际 山鹰国际控股股份公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同 | 年初至报告期末 | 年初至报告期末比上 年同期增减变动幅度 | | --- | --- | --- | --- | --- | | | | 期增减变动幅度(%) | | | | | | | | (%) | | 营业收入 | 7,290,881,469.43 | -0.77 | 21,133,070,929.82 ...

Revenue and Profit - The company's revenue for the third quarter reached ¥841,887,284.13, representing a year-on-year increase of 62.81%[4] - The total profit for the period was a loss of ¥68,087,572.53, with a year-to-date loss of ¥157,689,030.24[4] - The net profit attributable to shareholders was a loss of ¥62,475,789.11 for the quarter, and a loss of ¥140,485,775.93 year-to-date[4] - Total operating revenue for the first three quarters of 2025 reached ¥2,365,552,063.25, a significant increase of 73.4% compared to ¥1,365,982,392.11 in the same period of 2024[19] - The net loss for the first three quarters of 2025 was ¥140,485,706.56, an improvement from a net loss of ¥407,703,477.74 in the same period of 2024[21] - The total comprehensive loss for the first three quarters of 2025 was ¥138,678,527.85, an improvement from a loss of ¥406,835,143.25 in the same period of 2024[21] Research and Development - Research and development expenses totaled ¥200,357,373.99, accounting for 23.80% of revenue, a decrease of 10.32 percentage points compared to the previous year[5] - Research and development expenses increased to ¥561,639,953.25, representing a rise of 13.3% from ¥495,661,908.26 year-over-year[19] - Research and development expenses increased to ¥553,116,829.05 in the first three quarters of 2025, up 17.8% from ¥469,663,751.57 in the same period of 2024[27] Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥512,386,117.90 year-to-date, compared to -¥1,657.83 in the previous year[4] - Operating cash inflow for the first three quarters of 2025 reached ¥2,471,725,513.20, a significant increase from ¥1,446,052,919.36 in the same period of 2024, representing an increase of approximately 71.1%[22] - Net cash flow from operating activities turned negative at -¥512,386,117.90 for the first three quarters of 2025, compared to a positive cash flow of ¥32,890,938.56 in 2024[23] - Total cash and cash equivalents at the end of Q3 2025 were ¥619,861,445.38, down from ¥1,552,903,264.75 at the end of 2024, indicating a decrease of approximately 60%[23] - The company's net cash flow from operating activities for the first three quarters of 2025 was -¥642,781,144.39, compared to -¥4,740,612.50 in the first three quarters of 2024, indicating a worsening cash flow situation[29] - The company reported cash and cash equivalents of ¥408,419,106.19 at the end of the first three quarters of 2025, down from ¥1,406,718,883.60 at the end of the same period in 2024[30] Assets and Liabilities - Total assets increased slightly to ¥7,684,034,984.12, a change of 0.14% from the previous year[5] - Total current assets as of September 30, 2025, amount to ¥4,490,387,255.62, a decrease from ¥4,688,152,142.15 at the end of 2024[15] - Total liabilities amounted to ¥1,804,121,610.15, compared to ¥1,726,461,672.37 in the previous year, indicating a growth of 4.5%[20] - Total assets as of September 30, 2025, were ¥7,325,781,710.21, a slight increase from ¥7,248,069,939.10 at the end of 2024[26] - Current assets decreased to ¥4,298,347,141.59 in Q3 2025 from ¥4,497,809,234.20 in 2024, reflecting a decline of approximately 4.4%[25] - Total liabilities increased to ¥1,321,589,308.45 in Q3 2025 from ¥1,133,401,812.56 in 2024, marking an increase of about 16.6%[26] Shareholder Information - Total number of common shareholders at the end of the reporting period is 11,215[12] - The largest shareholder, Wang Shengyang, holds 15,487,920 shares, representing 10.87% of total shares[13] - The total number of shares held by the top 10 shareholders is significant, with the top three shareholders being Wang Shengyang, Sheng Yun, and Wang Yifeng, who are also acting in concert[13] Financial Performance Metrics - The weighted average return on equity improved by 1.26 percentage points to -1.06% for the quarter[5] - The company reported a basic and diluted earnings per share of -¥0.99 for the first three quarters of 2025, improving from -¥2.86 in the same period of 2024[21] - Other comprehensive income after tax for the first three quarters of 2025 was ¥1,807,178.71, compared to ¥868,334.49 in the previous year[21] - The company's financial expenses for the first three quarters of 2025 were ¥6,359,112.78, a significant change from a financial income of -¥24,805,892.45 in the same period of 2024[27] - The company recorded a total investment income of ¥25,346,134.55 in the first three quarters of 2025, slightly up from ¥24,828,391.89 in the same period of 2024[27] Inventory and Capital - Inventory has increased to ¥1,266,553,766.92 from ¥832,554,605.23[15] - The company reported a significant increase in inventory, which rose to ¥1,107,189,830.18 in Q3 2025 from ¥692,285,661.82 in 2024, representing an increase of about 60%[25] - The company's capital reserve rose to ¥6,235,590,477.99 in Q3 2025, compared to ¥6,164,127,766.70 in 2024, an increase of approximately 1.2%[26] Investment Activities - Cash inflow from investment activities for the first three quarters of 2025 was ¥7,163,569,250.80, slightly down from ¥7,987,336,977.12 in 2024, a decrease of about 10.3%[23] - Net cash flow from investment activities improved to ¥151,135,549.76 in 2025, compared to a negative cash flow of -¥147,690,607.68 in 2024[23] - The cash outflow from investing activities in the first three quarters of 2025 was ¥6,904,545,043.30, compared to ¥8,093,181,004.74 in the same period of 2024, indicating a decrease of 14.6%[30] Accounting Standards - The company has not adopted new accounting standards or interpretations that would affect the financial statements for the year of first implementation[31]