Financial Performance - The company's revenue for Q3 2025 was approximately ¥1.07 billion, representing a decrease of 10.63% compared to the same period last year[5]. - The net profit attributable to shareholders was approximately -¥159.70 million, a decline of 82.13% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately -¥140.51 million, down 72.46% from the previous year[5]. - The total profit for the period was approximately -¥563.31 million, showing an improvement of 39.23% compared to the previous year[8]. - The company's net profit for the current period was -642,399,445.88, compared to -1,011,979,887.77 in the previous period, indicating an improvement of approximately 36.4%[22]. - Operating profit for the current period was -458,263,218.17, a decrease from -555,430,509.42 in the previous period, reflecting a reduction in losses by about 17.5%[22]. - The company reported a total comprehensive loss of -642,403,661.86, compared to -1,011,986,787.18 in the previous period, reflecting an improvement of about 36.4%[22]. - Basic and diluted earnings per share were both -0.542, an improvement from -0.844 in the previous period[22]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥18.67 billion, a decrease of 9.89% from the end of the previous year[5]. - Total assets decreased to CNY 18,671,750,353.08 from CNY 20,721,867,109.74[18]. - Total liabilities increased to CNY 16,088,959,918.32 from CNY 15,825,323,103.09[18]. - Non-current liabilities rose to CNY 6,735,047,888.00 from CNY 5,947,485,299.08[18]. - The total equity attributable to shareholders decreased to CNY 41,910,159.06 from CNY 2,401,590,666.68[18]. Cash Flow - The cash flow from operating activities for the year-to-date was approximately ¥442.66 million, down 19.12% compared to the previous year[5]. - The net cash flow from operating activities was 442,663,276.80, compared to 547,281,654.37 in the previous period, showing a decrease of about 19.1%[25]. - Cash received from the disposal of fixed assets and other long-term assets decreased by 50.88% to ¥14,323,842.04 compared to the same period last year[9]. - Cash received from the disposal of subsidiaries and other operating units saw a significant decline of 140.55%, totaling ¥-16,919,856.58, indicating a reduction in cash recovery from subsidiary disposals[9]. - Cash received from bank borrowings decreased by 64.67% to ¥117,850,000.00 compared to the previous year, reflecting a reduction in bank loan receipts[9]. - Cash paid for debt repayment decreased by 39.35% to ¥394,184,227.40, indicating a reduction in bank loan repayments compared to the same period last year[9]. - Cash paid for dividends and interest decreased by 45.38% to ¥149,270,916.91, reflecting a decrease in interest payments compared to the previous year[9]. - Cash and cash equivalents at the end of the period were CNY 666,044,703.47, down from CNY 804,538,919.71 at the beginning of the period[16]. - Cash and cash equivalents at the end of the period were 560,367,600.45, compared to 436,677,858.11 at the end of the previous period, indicating an increase of approximately 28.3%[25]. Shareholder Information - Total number of ordinary shareholders at the end of the reporting period was 81,366, with no preferred shareholders having restored voting rights[11]. - The largest shareholder, Guangzhou Qizheng Enterprise Management Partnership, holds 5.81% of shares, totaling 82,818,938 shares[11]. - The second-largest shareholder, Tianfu Qingyuan Holdings, owns 4.99% of shares, totaling 71,084,278 shares[11]. Legal and Regulatory Issues - The company has faced significant legal challenges, including a restructuring application by creditors and ongoing litigation regarding subsidiary equity transfers[13]. - The company has not reported any changes in the participation of major shareholders in margin financing and securities lending activities[12]. Operating Performance - Total operating revenue for the period was CNY 3,303,777,332.76, a decrease of 10.57% compared to CNY 3,694,177,273.71 in the previous period[20]. - Total operating costs amounted to CNY 3,395,189,725.21, down 6.43% from CNY 3,629,126,088.68 in the prior period[20]. - Operating costs included CNY 2,535,041,749.45 in operating expenses, which decreased from CNY 2,728,128,939.75[20]. - The company incurred financial expenses of 374,539,862.32, slightly down from 385,964,260.03, a reduction of about 3.7%[22]. - Research and development expenses were 45,133,059.37, a slight decrease from 46,568,185.98, indicating a reduction of approximately 3.1%[22]. Financing Plans - The company plans to apply for a comprehensive credit line of up to CNY 65 million from relevant financial institutions[14].

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 索通发展股份有限公司 2025 年第三季度报告 证券代码：603612 证券简称：索通发展 索通发展股份有限公司 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。 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 1 / 13 单位：元 币种：人民币 项目 本报告期 本报告期 比上年同 期增减变 动幅度 （%） 年初至报告期末 年初至报告 期末比上年 同期增减变 动幅度（%） 营业收入 4,455,716,926.72 29.38 12,762,138,454.81 28.66 利润总额 212,610,310.69 -12.58 1,091,804,235.97 165.99 归属于上市公司股东 的净利润 ...

杰华特微电子股份有限公司 2025 年第三季度报告 杰华特微电子股份有限公司 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、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 证券代码：688141 证券简称：杰华特 杰华特微电子股份有限公司 2025 年第三季度报告 | 加权平均净资产收益率 | -8.23 | 减少 0.87 | -24.35 | 减少 3.7 | 个百 | | --- | --- | --- | --- | --- | --- | | （%） | | 个百分点 | | | 分点 | | 研发投入合计 | 258,254,864.72 | 52.19 | 679,152,915.28 | | 38.54 | | 研 ...

证券代码：603983 证券简称：丸美生物 广东丸美生物技术股份有限公司 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。 广东丸美生物技术股份有限公司 2025 年第三季度报告 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 （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 | 685,733,810.21 | 14.28 ...

Financial Performance - In Q3 2025, the company achieved operating revenue of CNY 241.22 million, a year-on-year increase of 46.85%[3] - For the first three quarters of 2025, the company reported operating revenue of CNY 615.13 million, up 19.59% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2025 was CNY -24.15 million, showing an improvement in loss by CNY 5.20 million year-on-year[5] - The net profit attributable to shareholders for the first three quarters of 2025 was CNY -62.98 million, a reduction in loss compared to the previous year[5] - Net loss for the first three quarters of 2025 was ¥60,882,393.82, compared to a net loss of ¥114,529,080.47 in the same period of 2024, showing an improvement of 46.8%[18] - The total comprehensive loss for the period was ¥58,489,999.29, compared to a loss of ¥114,529,080.47 in the same period last year, marking a 48.9% improvement[19] - The basic earnings per share for the period were -¥0.45, an improvement from -¥0.82 in the previous year[19] Research and Development - The company’s R&D expenditure for Q3 2025 was CNY 74.20 million, accounting for 30.76% of operating revenue, a decrease of 20.20 percentage points from the previous year[4] - Research and development expenses for the first three quarters of 2025 were ¥194,370,139.73, down from ¥212,576,680.14, a decrease of 8.6%[17] - The company continues to optimize its operational efficiency and cost structure, leading to improved performance despite ongoing R&D investments[5] Assets and Liabilities - Total assets at the end of Q3 2025 were CNY 1.61 billion, down 5.07% from the end of the previous year[4] - Total current assets as of September 30, 2025, amount to ¥1,036,618,193.04, a decrease from ¥1,205,257,242.84 as of December 31, 2024[14] - The company's total liabilities decreased to ¥816,851,837.24 from ¥938,406,969.87, a reduction of 12.9%[16] - The equity attributable to shareholders increased to ¥788,716,159.78 from ¥755,402,007.25, reflecting a growth of 4.4%[16] Cash Flow - The company’s cash flow from operating activities for the year-to-date was CNY -57.38 million[3] - The net cash flow from operating activities was -¥57,383,475.76, an improvement from -¥122,453,949.77 in the first three quarters of 2024[20] - Total cash outflow from investment activities was ¥158,459,877.73, compared to ¥111,356,286.92 in the same period of 2024, resulting in a net cash flow from investment activities of -¥137,645,116.78[21] - Cash inflow from financing activities totaled ¥66,753,948.37, while cash outflow was ¥109,626,718.86, leading to a net cash flow from financing activities of -¥42,872,770.49[21] Shareholder Information - Total number of common shareholders at the end of the reporting period is 12,819[11] - The largest shareholder, Lu Guojian, holds 39,884,510 shares, representing 27.68% of total shares[12] Other Financial Metrics - The weighted average return on equity for Q3 2025 was -3.27%, compared to 5.26% in the same period last year[4] - The company reported a financial expense of ¥8,577,775.94, significantly higher than ¥867,497.49 in the previous year, indicating a substantial increase in interest costs[17] - The company’s contract liabilities increased to ¥2,458,317.52 from ¥2,307,123.57, reflecting a growth of 6.5%[15]

Financial Performance - The company's operating revenue for the third quarter was ¥76,987,657.06, representing a year-on-year increase of 97.04%[3] - The total profit for the third quarter was ¥7,475,155.76, with a significant improvement compared to a loss of ¥10,364,067.30 for the same period last year[3] - The net profit attributable to shareholders was ¥6,525,032.23, recovering from a loss of ¥8,433,200.33 in the previous year[3] - The basic earnings per share for the quarter was ¥0.10, a recovery from a loss of ¥0.13 per share in the same period last year[4] - The total profit for the year-to-date period was -601.10%, primarily due to increased bad debt provisions[9] - The net profit for the first three quarters of 2025 was a loss of ¥8,433,200.33, compared to a net profit of ¥4,932,987.43 in the same period of 2024, indicating a significant decline[20] - The basic and diluted earnings per share for the first three quarters of 2025 were both -¥0.13, compared to ¥0.08 in the same period of 2024[21] Research and Development - Research and development (R&D) expenses totaled ¥16,270,451.31 for the quarter, accounting for 21.13% of operating revenue, down from 25.04% in the previous year[4] - The R&D investment for the year-to-date period increased by 32.56%, driven by higher employee compensation costs due to an increase in R&D personnel[10] - Research and development expenses for the first three quarters of 2025 amounted to ¥45,027,815.43, an increase from ¥33,968,021.71 in 2024, representing a growth of 32.7%[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,417,597,627.65, reflecting a 2.07% increase from the previous year[4] - The total assets as of the end of the reporting period were ¥1,417,597,627.65, compared to ¥1,388,824,565.76 at the end of the previous period, showing a slight increase of 2.0%[18] - Total liabilities increased to ¥165,558,869.34 from ¥124,476,625.25, marking a rise of 33.1%[18] - The company's total non-current assets reached ¥375,912,664.60, up from ¥284,195,135.82, indicating a growth of 32.3%[18] Cash Flow - The company reported a cash flow from operating activities of -¥9,765,376.84, indicating increased cash outflows compared to the previous year[3] - The company's cash flow from operating activities for the first three quarters of 2025 was ¥118,846,336.56, compared to ¥94,016,793.28 in 2024, reflecting a growth of 26.4%[24] - Operating cash inflow totaled $151,797,764.45, an increase from $103,493,999.63 year-over-year[25] - Operating cash outflow amounted to $168,950,158.42, compared to $120,454,161.64 in the previous period[25] - Net cash flow from operating activities was -$17,152,393.97, slightly worse than -$16,960,162.01 last year[25] - Cash inflow from investment activities reached $783,278,449.35, down from $1,821,323,063.03[25] - Cash outflow from investment activities was $1,059,297,723.55, compared to $1,962,266,228.48 previously[25] - Net cash flow from investment activities was -$276,019,274.20, worsening from -$140,943,165.45 year-over-year[25] - Cash inflow from financing activities was $6,000,000.00, with cash outflow totaling $19,539,335.94, leading to a net cash flow of -$13,539,335.94[26] - The impact of exchange rate changes on cash and cash equivalents was -$1,539,314.41, compared to -$1,064,355.93 last year[26] - The ending balance of cash and cash equivalents was $488,573,677.57, down from $651,938,096.99 at the end of the previous period[26] Shareholder Information - Total number of common stock shareholders at the end of the reporting period is 4,495[12] - The largest shareholder, Zhou Maolin, holds 15,727,700 shares, representing 23.59% of total shares[12] - The company has no significant changes in major shareholders or their shareholding status due to margin trading[14] Future Plans and Developments - The company plans to continue expanding its embedded smart instrument modules and automated production testing equipment, which contributed to revenue growth[9] - The company has not disclosed any new product developments or market expansion strategies in the current reporting period[15] - There are no significant reminders or additional important information regarding the company's operational status during the reporting period[15] - The company plans to implement new accounting standards starting in 2025, which may affect financial reporting[27]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥162,727,977.16, representing a year-on-year increase of 13.69%[3] - The total profit for the period was ¥18,534,736.03, showing a significant increase of 38.32% compared to the same period last year[3] - The net profit attributable to shareholders was ¥26,884,591.66, reflecting an impressive growth of 83.21% year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥25,571,715.73, which increased by 121.80% compared to the previous year[3] - Total operating revenue for the first three quarters of 2025 reached CNY 517,652,937.61, an increase of 22.4% compared to CNY 422,751,566.62 in the same period of 2024[18] - Net profit for the first three quarters of 2025 was CNY 68,795,914.06, a decrease of 26.4% from CNY 93,490,420.98 in the same period of 2024[20] Cash Flow and Liquidity - The company's cash flow from operating activities showed a net outflow of ¥112,178,188.09, indicating a significant increase in procurement during the period[3][8] - Cash and cash equivalents decreased to 600,443,157.59 RMB from 1,006,379,793.38 RMB, indicating a decline in liquidity[13] - The net cash flow from operating activities was -$382.15 million, a decrease from -$77.46 million in the previous period[24] - The total cash and cash equivalents at the end of the period amounted to $600.34 million, down from $863.62 million[25] - Cash outflows for operating activities totaled $821.85 million, up from $548.20 million[24] Research and Development - Research and development (R&D) expenses totaled ¥13,109,754.95, a decrease of 72.60% compared to the same period last year[4] - The ratio of R&D expenses to operating revenue was 8.06%, down by 25.36 percentage points year-on-year[4] - Research and development expenses for the first three quarters of 2025 were CNY 113,443,386.52, a decrease of 6.7% from CNY 121,252,635.32 in the same period of 2024[19] Assets and Liabilities - Total assets at the end of the period amounted to ¥3,800,546,881.00, reflecting a growth of 3.57% compared to the end of the previous year[4] - The company's total assets increased to CNY 3,800,546,881.00 in 2025 from CNY 3,669,593,588.18 in 2024, reflecting a growth of 3.57%[16] - Total liabilities rose to CNY 899,876,133.07 in 2025, compared to CNY 839,839,462.98 in 2024, marking an increase of 7.3%[16] - The company's equity attributable to shareholders increased to CNY 2,874,916,115.70 in 2025 from CNY 2,809,366,206.22 in 2024, representing a growth of 2.3%[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 21,658[10] - There are no significant changes in the top 10 shareholders or their participation in financing activities[12] Inventory and Accounts Receivable - The company reported a significant increase in accounts receivable, amounting to 1,227,419,936.65 RMB, up from 1,028,579,482.10 RMB[14] - Inventory levels rose to 706,523,484.81 RMB, compared to 473,948,258.54 RMB in the previous period, suggesting increased production or stockpiling[14] Strategic Focus - The company is focusing on expanding its market presence and developing new technologies, although specific figures were not disclosed[12] - The overall financial health indicates a need for strategic adjustments to improve cash flow and manage inventory levels effectively[13] Other Financial Activities - The company has a long-term equity investment valued at 19,313,729.62 RMB, slightly down from 19,831,301.39 RMB[14] - Non-current assets totaled 1,096,628.00 RMB in investment properties, remaining stable compared to the previous period[14] - The company has not reported any new product launches or mergers during this period[12] - Basic and diluted earnings per share for the first three quarters of 2025 were CNY 0.10, down from CNY 0.14 in the same period of 2024[20]

Revenue and Profitability - The company's revenue for Q3 2025 was ¥84,088,639.33, representing a 2.94% increase year-over-year, while year-to-date revenue decreased by 22.02% to ¥212,296,195.78[5]. - The net profit attributable to shareholders for Q3 2025 was -¥37,018,418.59, a 41.51% increase in loss compared to the same period last year, with a year-to-date loss of -¥62,046,692.86, an increase of 43.00%[5]. - Revenue for the first three quarters of 2025 was $212.30 million, a decrease of 22.02% compared to $272.25 million in the same period of 2024[12]. - Total operating revenue for the current period was ¥212,296,195.78, a decrease of 22% compared to ¥272,245,510.68 in the previous period[40]. - The company reported a net loss of ¥961,643.44 compared to a profit of ¥61,085,049.42 in the previous period[38]. - The net profit for the current period is -66,853,340.44, compared to -110,427,284.57 in the previous period, showing an improvement of approximately 39.5%[41]. - Total comprehensive income for the current period is -63,978,419.45, compared to -105,587,935.03 in the previous period, indicating a significant reduction in losses[42]. Cash Flow and Financial Position - The net cash flow from operating activities for the year-to-date period was ¥274,370,003.13, showing a significant increase of 2970.09%[5]. - Cash flow from operating activities shows a net inflow of 274,370,003.13, a turnaround from a net outflow of -9,559,621.17 in the previous period[45]. - Cash flow from investing activities resulted in a net outflow of -240,099,610.72, worsening from -94,754,797.95 in the previous period[45]. - Cash flow from financing activities shows a net outflow of -80,988,112.21, compared to -54,766,780.35 in the previous period[46]. - The company's cash and cash equivalents decreased by 60.07% to ¥255,897,692.69 due to increased purchases of financial products during the reporting period[9]. - Total assets as of September 30, 2025, were ¥2,357,936,689.04, reflecting a 2.80% increase from the end of the previous year[5]. - The company's equity attributable to shareholders increased by 4.03% to ¥1,537,261,721.27 compared to the end of the previous year[5]. - Total liabilities decreased slightly to ¥786,371,735.90 from ¥791,587,755.89, a reduction of about 1%[38]. Expenses and Costs - Operating costs decreased by 22.22% to $197.43 million from $253.84 million, primarily due to the reduction in revenue[12]. - Total operating costs amounted to ¥287,153,339.18, down from ¥336,427,706.38, reflecting a reduction of approximately 15%[40]. - Management expenses increased by 30.56% to $66.51 million, attributed to higher intermediary fees and one-time severance payments[12]. - Management expenses increased to 66,510,485.90 from 50,943,849.40, representing a rise of about 30.5%[41]. - R&D expenses dropped significantly by 67.82% to $3.08 million, reflecting reduced investment in research and development[12]. - Research and development expenses decreased to 3,080,454.07 from 9,572,985.22 in the previous period, reflecting a reduction of approximately 67.8%[41]. Investments and Assets - The company's trading financial assets increased by 183.92% to ¥685,266,117.63, primarily due to increased purchases of financial products[9]. - The company's long-term equity investments rose by 92.05% to ¥387,185,181.00, reflecting increased external investments during the reporting period[11]. - The company's inventory increased by 78.80% to ¥7,775,024.96, attributed to increased raw material purchases for ongoing projects[11]. - The company reported a significant increase in other current assets by 302.75% to ¥4,235,339.96, mainly due to an increase in pending input tax credits[11]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 12,319[14]. - The largest shareholder, Suqian Zhongtian Rongjian Enterprise Management Co., Ltd., holds 26.19% of the shares, totaling 52.80 million shares[14]. Fundraising and Utilization - The company raised a total of RMB 928,082,000.00 from its initial public offering, with a net amount of RMB 781,805,774.02 after deducting fees[15]. - As of September 30, 2025, the company has utilized RMB 644,326,600.00 of the raised funds, leaving a balance of RMB 172,180,200.00[16]. - From January to September 2025, the company sold assets totaling RMB 136,269,100.00, generating a profit of RMB 1,024,900.00[17]. New Business Ventures - In Q3 2025, the company secured new orders worth RMB 57,113,600.00 in its decoration business, with residential projects accounting for RMB 56,533,600.00[19]. - The company invested RMB 200,000,000.00 to establish Dongyang Zhongjing Xinjie Enterprise Management Partnership, focusing on semiconductor investments[20]. - The company acquired a 33.6984% stake in Coreis Semiconductor Technology for RMB 40,000,000.00, with production starting on September 27, 2025[20]. - The company modified its investment in Vision Intelligent Storage, reducing the investment amount to RMB 105,000,000.00 for a 38.59% stake[21]. - The company holds a 70% stake in Chipji Semiconductor, which is involved in semiconductor packaging and testing[22]. - The company plans to transfer its 44.5756% stake in Xinfeng Technology to focus on semiconductor packaging investments[23]. Wealth Management - In the first three quarters of 2025, the total amount of entrusted wealth management reached 747.70 million CNY, with an unexpired balance of 684.70 million CNY[29]. - The company utilized 569.70 million CNY of its own funds for bank wealth management products, with an unexpired balance of 549.70 million CNY[29]. - The company invested 168.00 million CNY of raised funds in bank wealth management products, with an unexpired balance of 135.00 million CNY[29]. - The highest single-day balance for entrusted wealth management was recorded at 747.70 million CNY[30]. - The average annualized return rate for the entrusted wealth management products ranged from 2.00% to 2.65%[30]. - The company received a total of 1.97 million CNY in investment income from structured deposits in April 2025[30]. - The company has invested in multiple structured deposit products with various banks, including a significant investment of 150.00 million CNY with Ningbo Bank[30]. - The company reported a total of 73.82 million CNY in investment income from a structured deposit with Ningbo Bank during the reporting period[30]. - The company has no overdue amounts in its entrusted wealth management activities[29]. - The company continues to manage its cash effectively through diversified financial products, ensuring liquidity and returns[30].

Financial Performance - The company's operating revenue for the third quarter reached ¥75,764,802.05, an increase of 35.45% compared to the same period last year[4]. - The total profit for the year-to-date period decreased by 37.79% to ¥44,257,163.93, primarily due to a decline in product gross margins following the inclusion of a product in centralized procurement[4][10]. - The net profit attributable to shareholders for the third quarter was ¥9,013,010.27, reflecting a year-on-year increase of 28.75[4]. - The basic earnings per share for the third quarter was ¥0.20, up 42.86% from the previous year[5]. - The net profit for the first three quarters of 2025 was ¥43,395,010.59, down 34.1% from ¥65,894,756.22 in the first three quarters of 2024[23]. - The basic earnings per share for the first three quarters of 2025 was ¥0.96, down from ¥1.28 in the same period of 2024[23]. Research and Development - Research and development expenses totaled ¥14,701,698.65 for the quarter, accounting for 19.40% of operating revenue, a decrease of 5.54 percentage points year-on-year[5]. - Research and development expenses increased to ¥39,443,550.90 in 2025, compared to ¥36,961,012.42 in 2024, reflecting a focus on innovation[22]. - The company successfully obtained CE-MDR certification for its neurosurgery, orthopedics, ENT, and breast surgery power device products during the reporting period, positively impacting future international product access and sales[15]. - The company added 112 new patents in 2025, bringing the total to 1,368 valid patents, including 768 for surgical power devices, 243 for endoscopes, and 263 for energy surgical equipment, indicating continuous technological innovation[15]. - The company’s ENT DK-ENT-MS2 and neurosurgery DK-N-MS2 surgical power devices completed R&D and production, significantly enhancing product competitiveness and market recognition[15]. - The company’s endoscope-related products made significant technical progress, including the successful registration of the endoscope fluorescence imaging system and optimization of image algorithms for the 4K endoscope system[16]. Sales and Market Performance - The company reported a significant increase in sales of orthopedic products, with revenue from this segment rising from 24% to 35% of total operating revenue[10]. - The revenue from consumables increased significantly, with a cumulative growth of over 180% during the reporting period for ultrasonic bone tissue surgical equipment[15]. - Sales of single-use breast biopsy needles increased by 45% compared to the same period last year, enhancing brand influence and market position[17]. - The company’s breast surgery consumables experienced increased demand due to price reductions from centralized procurement policies, leading to a significant rise in surgical volumes[16]. - The company achieved breakthroughs in the number of plasma devices and consumables entering hospitals in several provinces, including Shanxi, Anhui, Guangdong, Shaanxi, Gansu, Ningxia, and Chongqing[15]. Assets and Liabilities - The total assets of the company as of the end of the reporting period were ¥1,869,898,817.92, a decrease of 2.90% from the end of the previous year[5]. - The total assets as of September 30, 2025, were ¥1,869,898,817.92, a slight decrease from ¥1,925,782,570.99 at the end of 2024[20]. - The total liabilities decreased to ¥151,597,332.96 from ¥160,751,904.23, showing a reduction in financial obligations[20]. - The company's inventory increased to ¥102,037,336.91 from ¥75,332,518.62, suggesting a buildup of stock[18]. Cash Flow and Financial Activities - Cash flow from operating activities for the year-to-date period improved significantly, with a net cash flow of ¥51,162,209.23, an increase of 215% compared to the previous year[4][10]. - The net cash flow from operating activities for the first nine months was $51.16 million, a significant improvement from a net outflow of $44.49 million in the same period last year[27]. - The company's cash and cash equivalents decreased to ¥265,314,061.07 from ¥558,452,319.69 at the end of 2024, indicating a potential liquidity concern[18]. - The company's financial expenses showed a slight improvement, with a net financial cost of -¥10,362,319.90 compared to -¥10,926,273.37 in the previous year[22]. - The company reported a significant increase in contract liabilities to ¥22,743,472.11 from ¥7,869,652.39, indicating growth in customer commitments[20]. - Total cash inflow from investment activities decreased to $1.19 billion, down from $1.47 billion year-over-year[27]. - The net cash flow from investment activities was negative at -$250.93 million, compared to a positive $37.74 million in the previous year[27]. - Cash outflows from financing activities totaled $93.26 million, a decrease from $439.25 million in the same period last year[27]. - The ending cash and cash equivalents balance was $265.31 million, slightly down from $266.28 million year-over-year[28]. - The company received $1.18 billion from the recovery of investments, compared to $1.45 billion in the previous year[27]. - Cash paid for the acquisition of fixed assets and other long-term assets was $78.76 million, down from $131.53 million year-over-year[27]. - The company paid $46.06 million in dividends and interest, a slight decrease from $48.90 million in the previous year[27]. - The cash flow from operating activities totaled $300.75 million, an increase from $206.73 million year-over-year[27]. - The company reported a total cash outflow of $293.14 million for the period, compared to $445.97 million in the same period last year[27].

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]