金杯汽车股份有限公司 2025 年第三季度报告 证券代码：600609 证券简称：金杯汽车 金杯汽车股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、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 | 加权平均净资产收益率（%） | 5.04 | 减少 2.08 | 12.15 | 减少 11.88 | 个 | | --- | --- | --- | --- | --- | --- | | | | 个百分点 | | 百分点 | | | | 本报告期末 | | 上年度末 | 本报告期末 | 比上年度末 增减变动幅 | | | | | | | 度(%) | | ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥3,240,706,427.35, a decrease of 7.78% compared to the same period last year[4]. - The total profit for the period was -¥67,931,373.63, with a year-to-date profit of ¥109,165,773.90, reflecting a 27.05% increase year-on-year[4]. - The net profit attributable to shareholders was -¥84,050,664.37, while the year-to-date figure was -¥9,223,570.90[4]. - The basic and diluted earnings per share for the current period were both -¥0.05[4]. - Total operating revenue for the first three quarters of 2025 was approximately ¥11.46 billion, a decrease of 3.7% compared to ¥11.91 billion in the same period of 2024[18]. - Net profit for the first three quarters of 2025 was a loss of approximately ¥3.40 million, compared to a loss of ¥1.89 million in the same period of 2024[19]. Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period increased by 94.32% to ¥1,612,569,760.11[4]. - In the first three quarters of 2025, the net cash flow from operating activities was CNY 1,612,569,760.11, a significant increase from CNY 829,851,287.99 in the same period of 2024, representing a growth of approximately 94.3%[21]. - Cash received from the sale of goods and services in the first three quarters of 2025 was CNY 14,236,666,937.03, slightly up from CNY 14,144,193,928.43 in 2024, marking an increase of approximately 0.65%[21]. - The total cash outflow from operating activities in the first three quarters of 2025 was CNY 13,051,312,172.72, down from CNY 13,750,058,001.01 in 2024, indicating a reduction of about 5.1%[21]. - The total cash and cash equivalents at the end of the first three quarters of 2025 amounted to CNY 1,894,849,277.89, compared to CNY 2,025,406,315.22 at the end of the same period in 2024, showing a decrease of about 6.4%[22]. Assets and Liabilities - The total assets at the end of the reporting period were ¥25,350,483,971.22, down 5.87% from the end of the previous year[4]. - Current assets totaled ¥4,771,241,806.03, down from ¥5,664,678,374.22, indicating a decrease of about 15.69%[14]. - The company's total liabilities decreased to approximately ¥20.60 billion in 2025 from ¥22.18 billion in 2024, reflecting a reduction of about 7.2%[16]. - The total liabilities and equity of the company amounted to approximately ¥25.35 billion in 2025, down from ¥26.93 billion in 2024, a decrease of about 5.8%[16]. - The company’s total current liabilities were approximately ¥8.02 billion in 2025, a decrease from ¥8.25 billion in 2024, reflecting a reduction of about 2.7%[16]. Shareholder Information - The company reported a total of 48,375 common shareholders at the end of the reporting period[12]. - The largest shareholder, Huaxin Gas Group Co., Ltd., holds 46.19% of the shares, totaling 891,136,436 shares[12]. - The company has no significant changes in the participation of major shareholders in margin trading or securities lending activities[12]. Expenses and Investments - Research and development expenses increased significantly to approximately ¥10.65 million in 2025, up from ¥5.07 million in 2024, marking a rise of 109.5%[18]. - The company reported a decrease in financial expenses to approximately ¥418.69 million in 2025 from ¥535.97 million in 2024, a reduction of about 22%[18]. - The cash inflow from the disposal of fixed assets and other long-term assets in 2025 was CNY 25,123,448.72, compared to CNY 4,859,634.99 in 2024, reflecting a significant increase of about 417.5%[21]. - The cash outflow for purchasing fixed assets and other long-term assets in the first three quarters of 2025 was CNY 256,542,730.57, compared to CNY 235,493,268.13 in 2024, indicating an increase of approximately 8.9%[22].

Financial Performance - The company's operating revenue for Q3 2025 was ¥88,571,378.67, a decrease of 1.71% compared to the same period last year[6]. - The total profit for the year-to-date period was -¥93,477,327.82, reflecting a significant decline[6]. - The net profit attributable to shareholders for the year-to-date period was -¥54,368,482.66, indicating a substantial loss[6]. - The basic earnings per share for Q3 2025 was -¥0.06, unchanged from the previous year[7]. - Total operating revenue for the first three quarters of 2025 was ¥226,386,458.57, a decrease of 4.8% compared to ¥236,735,196.74 in the same period of 2024[19]. - Net profit for the first three quarters of 2025 was a loss of ¥81,764,968.83, compared to a loss of ¥19,127,236.53 in the same period of 2024, representing a deterioration of 327.5%[20]. - Basic and diluted earnings per share for the first three quarters of 2025 were both -¥0.19, compared to -¥0.05 in the same period of 2024[21]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,515,206,777.98, down 5.54% from the end of the previous year[7]. - Total assets as of September 30, 2025, amounted to CNY 1,515,206,777.98, a decrease from CNY 1,604,030,568.64 as of December 31, 2024[15]. - Current assets totaled CNY 838,575,859.66, down from CNY 947,889,566.93 in the previous year[15]. - Total liabilities increased to CNY 512,687,419.08 from CNY 495,080,870.37[16]. - Total equity decreased to CNY 1,002,519,358.90 from CNY 1,108,949,698.27[16]. Cash Flow - The cash flow from operating activities for the year-to-date period was -¥36,938,575.39, indicating cash outflow[6]. - Cash flow from operating activities showed a net outflow of ¥36,938,575.39, worsening from a net outflow of ¥11,222,359.58 in the same period last year[22]. - Net cash flow from investment activities was $9.83 million, a significant improvement from a net outflow of $58.29 million in the previous period[23]. - Cash flow from financing activities showed a net outflow of $40.87 million, contrasting with a net inflow of $118.75 million in the previous year[23]. - The ending balance of cash and cash equivalents was $90.12 million, down from $123.91 million, reflecting a decrease of approximately 27%[23]. - The company reported a cash and cash equivalents net decrease of $67.98 million compared to an increase of $49.23 million in the prior period[23]. Expenses - Total operating costs increased significantly to ¥325,586,827.28, up 25.5% from ¥259,451,926.38 year-over-year[19]. - Research and development expenses rose to ¥23,824,913.26, an increase of 74.8% from ¥13,624,042.70 in the previous year[19]. - Sales expenses surged to ¥20,602,950.34, an increase of 124.5% from ¥9,176,516.29 year-over-year[19]. - Management expenses increased to ¥50,602,649.53, up 52.5% from ¥33,212,040.97 in the previous year[19]. Profitability and Returns - The company reported a significant decline in total profit for the year-to-date period of -316.72% due to decreased sales prices in the elevator business[10]. - The net profit attributable to shareholders for the year-to-date period saw a decline of -298.14%, primarily due to fewer project acceptances in the military simulation business[10]. - The weighted average return on net assets for the year-to-date period was -5.79%, reflecting a decrease of 325.74% compared to the previous year[11]. Other Information - The company has not disclosed any significant new strategies or product developments during the reporting period[14]. - The company did not apply new accounting standards starting from 2025[24]. - The announcement was made by the board of directors of 展鹏科技股份有限公司 on October 30, 2025[25].

Financial Performance - The company's operating revenue for the third quarter reached ¥10,379,674,681.47, representing a year-on-year increase of 12.96%[3] - Total profit for the quarter was ¥4,898,085,551.19, reflecting a growth of 15.13% compared to the same period last year[3] - Net profit attributable to shareholders decreased by 4.77% to ¥3,232,975,385.60 for the quarter[3] - The company reported a diluted earnings per share of ¥0.1390, down 4.79% year-on-year[5] - The company's operating profit for the current period is CNY 14,716,809,833.55, an increase from CNY 14,081,776,787.67 in the previous period, reflecting a growth of approximately 4.5%[19] - Net profit for the current period is CNY 12,398,077,346.64, compared to CNY 12,719,376,876.94 in the previous period, indicating a decrease of about 2.5%[19] - The total revenue from operating activities reached CNY 45,527,836,824.44, up from CNY 44,488,064,829.68 in the previous year, representing an increase of approximately 2.3%[22] - The total comprehensive income for the current period is CNY 12,638,059,743.47, slightly down from CNY 12,712,970,829.75 in the previous period[20] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥220,945,706,789.22, an increase of 4.19% from the end of the previous year[5] - Current assets as of September 30, 2025, totaled ¥51,888,481,005.11, up from ¥48,744,038,847.45 at the end of 2024, representing an increase of approximately 4.7%[14] - Non-current assets amounted to ¥169,057,225,784.11 as of September 30, 2025, compared to ¥163,311,502,225.58 at the end of 2024, showing a growth of about 3.4%[16] - Total liabilities as of September 30, 2025, were ¥65,939,991,066.05, compared to ¥64,646,735,983.43 at the end of 2024, indicating an increase of about 2.0%[17] - Shareholders' equity totaled ¥155,005,715,723.17 as of September 30, 2025, up from ¥147,408,805,089.60 at the end of 2024, representing an increase of approximately 5.4%[17] - Total assets as of September 30, 2025, amounted to CNY 146,469,918,578.92, an increase of 7.3% from CNY 136,623,225,094.54 at the end of 2024[28] - Total liabilities increased to CNY 52,148,412,050.74, up from CNY 45,287,402,592.23, representing an increase of 15.5%[28] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥9,850,357,550.88, showing a significant increase of 32.05%[3] - The net cash flow from operating activities improved to CNY 9,850,357,550.88, compared to CNY 7,459,742,714.84 in the same period last year, showing a significant increase of about 32%[22] - Cash flow from operating activities for the first three quarters of 2025 was CNY 4,586,037,342.81, compared to CNY 4,161,926,157.49 in 2024, marking an increase of about 10.18%[33] - The company's cash flow from financing activities showed a net outflow of CNY 4,242,133,257.92, slightly improved from a net outflow of CNY 4,299,582,009.36 in the previous period[25] - Cash flow from investing activities showed a net outflow of CNY 1,351,148,993.65 in 2025, a significant decrease from a net inflow of CNY 828,834,463.71 in 2024[33] Shareholder Information - The company had 149,475 common shareholders at the end of the reporting period[10] - The top shareholder, Shanghai State-owned Capital Investment Co., Ltd., holds 28.31% of the shares[10] Expenses and Income - The company's financial expenses increased to CNY 427,559,585.82 from CNY 313,073,249.71, marking an increase of approximately 36.5%[19] - The company’s tax expenses rose to CNY 2,850,816,865.07, compared to CNY 2,043,249,358.74 in the previous period, indicating an increase of about 39.5%[19] - The company’s investment income increased to CNY 6,446,121,140.10 from CNY 5,797,562,715.72, reflecting a growth of approximately 11.2%[19] - Research and development expenses for the first three quarters of 2025 were CNY 6,710,795.85, a decrease of 23.7% from CNY 8,806,546.75 in the same period of 2024[30] - The company reported a decrease in management expenses to CNY 983,789,980.27 from CNY 1,060,093,135.54, a reduction of approximately 7.2%[30] Other Financial Metrics - The weighted average return on equity fell by 10.99 percentage points to 2.3373%[5] - The company reported a basic earnings per share of CNY 0.4852, down from CNY 0.5088 in the previous period, reflecting a decrease of approximately 4.9%[20] - The company experienced a decrease in credit impairment losses, reporting CNY -6,372,882.63 in 2025 compared to CNY -12,473,271.17 in 2024, indicating an improvement[31] - The company reported a fair value change income of CNY 518,836,688.82 for the current period, compared to CNY 503,056,755.44 in the previous period, showing an increase of approximately 3.46%[31] - The company has not adopted new accounting standards for the current reporting period[34]

Financial Performance - The company's operating revenue for Q3 2025 was ¥269,212,200.56, representing a 2.45% increase year-over-year, while the year-to-date revenue decreased by 4.38% to ¥910,136,957.60[5] - The net profit attributable to shareholders for Q3 2025 was -¥15,998,424.02, a significant decline of 525.82% compared to the same period last year, with a year-to-date net profit of -¥46,230,817.98, improving by 51.43%[5] - The basic and diluted earnings per share for Q3 2025 were both -¥0.0235, reflecting a decrease of 518.76% year-over-year, while the year-to-date figure was -¥0.0679, improving by 51.47%[5] - Total operating revenue for the current period is $910.14 million, a decrease of 4.4% from $951.85 million in the previous period[25] - Net profit for the current period is -$63.50 million, compared to -$95.20 million in the previous period, indicating a reduction in losses[26] - Operating profit for the current period is -$36.20 million, an improvement from -$110.92 million in the previous period[25] Assets and Liabilities - The total assets at the end of Q3 2025 were ¥2,401,682,992.50, down 1.98% from the end of the previous year[5] - As of September 30, 2025, the company's total assets amounted to ¥2,401,682,992.50, a decrease from ¥2,450,149,856.43 at the beginning of the period[22] - The company's total liabilities increased to ¥2,321,568,583.06 from ¥2,304,617,991.61, indicating a rise in financial obligations[23] - The company's total equity decreased to ¥80,114,409.44 from ¥145,531,864.82, showing a decline of approximately 44.8%[23] - The company reported a total current liabilities of ¥1,575,392,935.38, slightly up from ¥1,557,148,602.27, indicating a marginal increase in short-term financial obligations[23] Cash Flow - The company's cash flow from operating activities for the year-to-date period was ¥72,941,604.38, a decrease of 50.94% compared to the same period last year[5] - Cash flow from operating activities generated a net amount of $72.94 million, down from $148.68 million in the previous period[28] - Cash flow from investing activities resulted in a net outflow of -$35.26 million, compared to -$28.40 million in the previous period[30] - Cash flow from financing activities showed a net outflow of -$36.74 million, an improvement from -$125.08 million in the previous period[30] - The company reported a total cash and cash equivalents balance of $73.52 million at the end of the period, up from $28.84 million at the end of the previous period[30] Expenses and Investments - Research and development expenses for Q3 2025 were ¥2,224,162.46, a decrease of 66.07% compared to the previous year, indicating reduced investment in R&D[9] - The company reported a significant increase in other operating expenses, with a year-to-date figure of ¥16,485,642.09, up 1581.34% due to accrued penalties[9] - The company experienced a 99.06% increase in credit impairment losses, amounting to -¥1,274,548.77, primarily due to last year's large provisions for bad debts[9] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 15,232, with no preferred shareholders[11] Debt and Repayment - The company has repaid a total of RMB 39,198,812.70 in convertible bond debts, including RMB 22,550,528.00 in principal and RMB 16,648,284.70 in interest, with RMB 6,935,451.34 remaining unpaid as of September 30, 2025[13] - The company has not met the repayment obligations for the remaining 30% of the debt principal and corresponding interest for the bonds due by June 30, 2023, resulting in overdue amounts of RMB 66,087,800.00 in principal and RMB 19,437,000.00 in interest for the 15 Jin Hong bond, and RMB 40,425,000.00 in principal and RMB 10,395,300.00 in interest for the 16 Zhongyou Jin Hong MTN001 bond[15] - The company is actively communicating with creditors regarding the repayment of the overdue debts and has proposed a new repayment plan to settle 16.5% of the original debt principal and corresponding interest by November 30, 2023[16] Legal and Governance - The company has lost control over its subsidiary Shahe Jintong and is in the process of transferring its 51% stake to Huzhou Yanji Information Technology Co., Ltd. for RMB 2 million[17] - The company has initiated legal proceedings to recover financial information from Shahe Jintong, with a favorable first-instance judgment received on January 14, 2025, which was upheld upon appeal[18] - The company has completed the early re-election of its board and supervisory committee, ensuring a refreshed governance structure[19] Auditor and Address Change - The company appointed Zhengdan Zhiyuan (Shenzhen) Accounting Firm as its auditor for the 2025 financial year to ensure audit independence and objectivity[20] - The company has changed its registered address to "No. 4 Building, 88 Metering Avenue, Hejiang Street, Shigu District, Hengyang City, Hunan Province" to enhance operational efficiency[20] Miscellaneous - The company received government subsidies totaling ¥153,500.00 during the reporting period, contributing to its financial performance[7] - The third quarter financial report of Jinhong Holdings Group Co., Ltd. has not been audited[31] - The new accounting standards will be implemented starting from 2025[31] - The financial report for the year of first implementation will reflect relevant project situations from the beginning of the year[31] - The board of directors announced the financial report on October 30, 2025[31]

Financial Performance - Operating revenue for Q3 2025 reached CNY 6,468,504,607, an increase of 6.01% compared to the same period last year[5] - Total profit for the quarter was CNY 1,538,402,231, a decrease of 5.21% year-over-year[5] - Net profit attributable to shareholders was CNY 1,166,888,153, down 6.17% from the previous year[5] - Basic earnings per share for the quarter were CNY 1.20, reflecting a decline of 5.51% compared to the same period last year[6] - Total operating revenue for the first three quarters of 2025 reached CNY 16.77 billion, a 5% increase from CNY 15.98 billion in the same period of 2024[16] - Net profit for the first three quarters of 2025 was CNY 2.34 billion, down 10.3% from CNY 2.60 billion in 2024[16] - Operating profit for the first three quarters of 2025 was CNY 3.09 billion, slightly down from CNY 3.12 billion in 2024[16] - The company reported a decrease in comprehensive income to CNY 2.28 billion in 2025 from CNY 2.69 billion in 2024[17] - Basic and diluted earnings per share for the first three quarters of 2025 were CNY 2.40, down from CNY 2.67 in 2024[17] Assets and Liabilities - Total assets at the end of the quarter amounted to CNY 46,526,995,587, representing a 6.14% increase from the end of the previous year[6] - As of September 30, 2025, the total assets of Spring Airlines amounted to RMB 46.53 billion, an increase from RMB 43.84 billion as of December 31, 2024, representing a growth of approximately 6.3%[12] - The total liabilities increased to RMB 28.35 billion from RMB 26.45 billion, reflecting a rise of approximately 7.2%[13] - The current liabilities totaled RMB 10.30 billion, up from RMB 9.05 billion, marking an increase of about 13.8%[13] - The company's total equity attributable to shareholders increased to RMB 18.18 billion from RMB 17.38 billion, a growth of approximately 4.6%[14] Cash Flow and Investments - Cash flow from operating activities for the year-to-date was CNY 5,541,634,283, showing a slight increase of 0.51%[5] - Cash flow from operating activities for the first three quarters of 2025 was CNY 5.54 billion, a marginal increase from CNY 5.51 billion in 2024[18] - The company experienced a net cash outflow from investing activities of CNY 3.82 billion in 2025, an improvement from a net outflow of CNY 5.68 billion in 2024[19] Shareholder Information - The total number of common shareholders at the end of the reporting period was 30,164[10] - The largest shareholder, Shanghai Spring Airlines International Travel Agency, holds 51.52% of the shares, with 33,600,000 shares pledged[10] Other Financial Metrics - The weighted average return on equity decreased to 6.50%, down 0.79 percentage points year-over-year[6] - Government subsidies recognized during the quarter amounted to CNY 15,277,342, contributing to the overall financial performance[8] - The company's cash and cash equivalents decreased to RMB 8.97 billion from RMB 10.22 billion, a decline of about 12.2%[12] - The retained earnings rose to RMB 9.30 billion from RMB 8.18 billion, indicating an increase of about 13.6%[14] - The fixed assets increased to RMB 26.74 billion from RMB 24.92 billion, representing a growth of approximately 7.3%[13] - The company reported a significant increase in prepayments, which rose to RMB 897.41 million from RMB 399.31 million, a growth of approximately 125%[12] - The total non-current assets reached RMB 35.47 billion, up from RMB 31.82 billion, reflecting an increase of about 11.5%[13] - The company's short-term borrowings decreased to RMB 460.25 million from RMB 628.93 million, a decline of approximately 26.8%[13] - Research and development expenses for the first three quarters of 2025 amounted to CNY 123 million, up from CNY 118 million in 2024[16] - Total operating costs for the first three quarters of 2025 were CNY 14.62 billion, an increase of 7% from CNY 13.65 billion in 2024[16]

Financial Performance - The company's operating revenue for Q3 2025 was ¥159,736,643.99, a decrease of 12.62% compared to the same period last year[4] - The total profit for the period was -¥42,753,576.38, with a year-to-date total profit of -¥8,012,457.64[4] - The net profit attributable to shareholders was -¥34,966,759.93 for the quarter, and -¥3,950,006.00 year-to-date[4] - The basic and diluted earnings per share for Q3 2025 were both -¥0.07, showing a decrease compared to -¥0.01 in the same period last year[5] - The company experienced a year-to-date increase in operating revenue of 13.79% compared to the previous year, despite the decline in Q3[9] - Total operating revenue for the first three quarters of 2025 reached RMB 596,175,238.80, an increase of 13.7% compared to RMB 523,926,281.24 in the same period of 2024[21] - The net profit for the first three quarters of 2025 was a loss of RMB 3,857,197.41, an improvement from a loss of RMB 17,696,526.96 in the same period of 2024[22] - The total comprehensive income attributable to the parent company for the current period was -CNY 5,599,429.80, compared to -CNY 17,552,050.55 in the previous period, showing a reduction in losses[23] - The company reported a total comprehensive income of -CNY 5,506,621.21 for the current period, compared to -CNY 17,902,776.04 in the previous period, indicating a significant reduction in overall losses[23] Expenses and Costs - Research and development expenses totaled ¥19,212,551.18 for the quarter, accounting for 12.03% of operating revenue, a decrease of 1.13 percentage points year-on-year[5] - Total operating costs for the first three quarters of 2025 were RMB 618,211,364.00, up from RMB 589,990,650.81 in 2024, reflecting a year-on-year increase of 4.1%[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,285,825,773.90, reflecting a slight increase of 0.94% from the previous year[5] - The company's total assets as of September 30, 2025, amounted to RMB 3,285,825,773.90, compared to RMB 3,255,092,762.50 at the end of 2024[19] - Current assets totaled RMB 1,852,229,771.60 as of September 30, 2025, slightly up from RMB 1,821,509,888.98 at the end of 2024[18] - Total liabilities increased to RMB 495,464,729.18 from RMB 470,718,388.95, marking an increase of 5.5%[19] Cash Flow - The cash flow from operating activities for the year-to-date was ¥130,925,197.52, representing a significant increase of 951.26% compared to the same period last year[4] - The net cash flow from operating activities for the first three quarters of 2025 was CNY 130,925,197.52, a significant increase compared to CNY 12,454,161.83 in the same period of 2024, representing a growth of over 950%[26] - The cash inflow from sales of goods and services for the first three quarters of 2025 was CNY 548,077,595.95, an increase from CNY 457,988,158.71 in the same period of 2024, representing a growth of approximately 19.6%[26] - The total cash inflow from investment activities in the first three quarters of 2025 was CNY 2,288,714,826.48, compared to CNY 1,636,257,897.63 in 2024, indicating an increase of approximately 40%[27] - The net cash flow from investment activities for the first three quarters of 2025 was -CNY 206,055,305.41, an improvement from -CNY 509,248,029.06 in the same period of 2024[27] - The net cash flow from financing activities for the first three quarters of 2025 was -CNY 43,301,655.24, slightly worse than -CNY 35,274,099.36 in 2024[27] Shareholder Information - Total number of common shareholders at the end of the reporting period is 11,641[12] - The largest shareholder, Ningbo Meishan Bonded Port Area Ouchang Investment Management Co., Ltd., holds 180,006,984 shares, representing 34.66% of total shares[12] - The second largest shareholder, Ningbo Meishan Bonded Port Area Qino Investment Partnership (Limited Partnership), holds 58,889,536 shares, representing 11.34%[12] - Beijing Yunhui Private Fund Management Co., Ltd. holds 21,067,081 shares, accounting for 4.06% of total shares[12] - The top 10 shareholders collectively hold a significant portion of the company's shares, with the largest three shareholders alone accounting for over 50%[12] - The company has not reported any changes in the participation of major shareholders in margin trading or securities lending activities[15] - There are no significant changes in the shareholding structure compared to the previous period[15] - The company has not disclosed any related party transactions among the top shareholders[14] Future Outlook - The report does not indicate any new product launches or technological developments during the reporting period[15] - No future performance guidance or market expansion strategies have been mentioned in the conference call[15]

Financial Performance - The company's operating revenue for the third quarter was CNY 3,068,796,198.60, representing a year-on-year increase of 0.89%[4] - The total profit for the quarter reached CNY 234,933,537.78, an increase of 46.82% compared to the same period last year[4] - The net profit attributable to shareholders was CNY 169,004,464.02, reflecting a year-on-year growth of 51.89%[4] - The basic earnings per share for the quarter was CNY 0.130, up 52.94% year-on-year[4] - Net profit for the first three quarters of 2025 reached CNY 545,442,423.99, an increase of 38.1% from CNY 395,224,582.73 in 2024[19] - Earnings per share for the first three quarters of 2025 was CNY 0.419, compared to CNY 0.303 in the same period of 2024[20] Cash Flow - The net cash flow from operating activities for the year-to-date period was CNY 644,376,260.56, up by 47.25%[4] - The net cash flow from operating activities was $644,376,260.56, an increase of 47.3% compared to $437,599,819.11 in the previous period[23] - Total cash inflow from operating activities amounted to $9,251,270,839.00, while cash outflow was $8,606,894,578.44, resulting in a net increase of $644,376,260.56[23] - Cash flow from investment activities showed a net outflow of $115,191,657.37, compared to a net outflow of $107,040,503.22 in the previous period[23] - Cash flow from financing activities resulted in a net outflow of $915,710,393.81, significantly higher than the previous period's outflow of $169,277,092.16[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 9,902,648,824.24, a decrease of 4.95% from the end of the previous year[5] - The company's current assets totaled ¥4,519,801,710.19, down from ¥5,075,036,794.01, indicating a decrease of about 10.9%[14] - Total liabilities amounted to ¥1,813,532,219.30, a decrease from ¥2,715,545,163.41, indicating a reduction of about 33.2%[15] - Total liabilities as of the end of the reporting period were CNY 2,164,949,580.45, down from CNY 3,121,137,135.45 in the previous year[16] - The equity attributable to shareholders increased by 6.09% to CNY 7,713,581,058.83 compared to the end of the previous year[5] - Total equity attributable to shareholders of the parent company increased to CNY 7,713,581,058.83 from CNY 7,270,483,663.69[16] Investment and Expenses - The investment income for the quarter increased by 31.36% compared to the same period last year[9] - Financial expenses for the first three quarters of 2025 were CNY 5,239,311.55, significantly higher than CNY 1,753,694.50 in 2024[19] - Investment losses for the first three quarters of 2025 were CNY 16,077,228.88, compared to a loss of CNY 8,626,108.79 in the same period of 2024[19] Operational Metrics - The weighted average return on net assets increased by 0.720 percentage points to 2.293% for the quarter[4] - The company reported a significant increase in prepayments by 63.62% at the end of the reporting period[8] - Cash received from sales of goods and services in the first three quarters of 2025 was CNY 8,877,635,045.98, a decrease of 11.2% from CNY 9,996,362,648.20 in 2024[22] Changes in Financial Position - The company's accounts payable decreased significantly to ¥502,316,850.59 from ¥919,827,308.29, reflecting a decline of approximately 45.5%[15] - The company reported a total of ¥481,205,381.71 in contract liabilities, an increase from ¥387,615,624.14, representing a growth of about 24.1%[15] - Long-term equity investments were valued at ¥151,630,675.89, down from ¥181,767,251.15, indicating a decrease of approximately 16.6%[14] Other Information - The company has not reported any significant new strategies or product developments during the conference call[13] - The total cash and cash equivalents at the end of the period were $1,542,555,205.72, down from $1,785,759,680.68 at the end of the previous period[24] - The company received tax refunds amounting to $42,371.15, an increase from $23,121.60 in the previous period[23] - The company paid $378,021,585.13 to employees, which is an increase from $354,874,471.75 in the previous period[23] - The cash paid for purchasing goods and services was $7,656,304,965.79, down from $9,418,786,215.22 in the previous period[23] - The cash inflow from investment activities totaled $36,347,904.11, slightly up from $35,969,037.00 in the previous period[23] - The impact of exchange rate changes on cash and cash equivalents was a positive $499,747.91, compared to a negative impact of $107,154.97 in the previous period[24]

Financial Performance - The company's operating revenue for Q3 2025 was ¥551,506,179.73, representing a year-on-year increase of 23.88%[3] - The total profit for the period was ¥53,720,819.53, showing a decrease of 15.30% compared to the same period last year[3] - Net profit attributable to shareholders was ¥42,865,469.40, down 23.01% year-on-year[3] - Total operating revenue for the first three quarters of 2025 reached ¥1,486,421,857.28, a 23.7% increase from ¥1,202,194,353.19 in the same period of 2024[16] - Net profit for the first three quarters of 2025 was ¥152,567,751.66, representing a 3.1% increase compared to ¥148,104,122.24 in 2024[17] - The company reported a total comprehensive income of ¥160,682,244.38 for the first three quarters of 2025, slightly up from ¥159,727,706.58 in 2024[18] Research and Development - Research and development (R&D) expenses for the quarter amounted to ¥30,230,812.10, an increase of 42.40% compared to the same period last year, accounting for 5.48% of operating revenue[4] - The company has increased its focus on R&D, which is expected to drive future growth and innovation[8] - Research and development expenses increased to ¥67,729,584.67, up 18.4% from ¥57,228,875.49 year-over-year[16] Assets and Liabilities - Total assets at the end of the reporting period reached ¥4,062,651,131.52, reflecting a growth of 9.84% from the end of the previous year[4] - The total liabilities as of September 30, 2025, were RMB 1,997,360,737.38, compared to RMB 1,894,651,158.42 at the end of 2024, indicating an increase of about 5.4%[15] - The equity attributable to shareholders of the parent company increased to RMB 1,930,642,627.54 from RMB 1,792,424,024.05, a growth of about 7.7%[15] - The company's non-current assets totaled RMB 1,101,892,472.62, compared to RMB 853,655,619.70, reflecting a growth of around 29.1%[14] Cash Flow - The company reported a net cash flow from operating activities of ¥174,850,876.07 for the year-to-date period[3] - The net cash flow from operating activities was $174,850,876.07, a significant improvement compared to a negative cash flow of $43,201,721.44 in the previous period, indicating a recovery in operational performance[20] - Cash inflow from investment activities totaled $596,923,330.69, down from $2,573,520,877.56, reflecting a decrease in investment recovery[20] - The net cash flow from investment activities was negative at -$570,613,482.23, worsening from -$375,353,500.20, highlighting increased cash outflows for investments[20] - The total cash and cash equivalents at the end of the period stood at $612,942,055.08, up from $562,824,337.16, reflecting a slight increase in liquidity[20] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 5,817[10] - The largest shareholder, MayAir International Sdn. Bhd., holds 48.73% of the shares[10] Inventory and Receivables - The company reported a significant increase in inventory, which rose to RMB 613,649,665.47 from RMB 591,615,751.67, reflecting a growth of approximately 3.7%[13] - Accounts receivable increased to RMB 1,165,220,092.05 from RMB 989,992,528.18, marking a rise of approximately 17.7%[13] Operating Costs - Total operating costs increased to ¥1,339,128,484.00, up 28.9% from ¥1,038,782,860.60 year-over-year[16] - Sales expenses rose to ¥90,986,255.65, a 22.9% increase from ¥74,102,127.62 in 2024[16] Tax and Capital Expenditures - The company paid $79,954,451.71 in various taxes, an increase from $57,237,414.25, indicating higher tax obligations[20] - The cash outflow for capital expenditures was $174,984,222.10, compared to $134,514,377.76, showing increased investment in fixed assets[20]

Financial Performance - The company's operating revenue for Q3 2025 was ¥75,748,830.82, representing a year-on-year increase of 28.04%[3]. - The total profit for the period decreased by 61.06% to ¥5,375,122.06, while the net profit attributable to shareholders fell by 72.43% to ¥3,400,007.56[3][7]. - The net profit excluding non-recurring gains and losses for the period was ¥1,496,328.53, a decrease of 54.58%[3][7]. - The total profit for the year-to-date period decreased by 58.90% to ¥13,477,974.50[3][7]. - Net profit for the first three quarters of 2025 was ¥10,426,941.04, a significant decrease of 65.0% from ¥29,851,649.60 in the same period of 2024[18]. - Operating profit for the first three quarters of 2025 was ¥13,872,772.51, down 57.9% from ¥32,927,204.45 in 2024[18]. Cash Flow - The net cash flow from operating activities was negative at -¥40,179,573.53, a decline of 412.09% compared to the same period last year[3][8]. - Cash flow from operating activities for the first three quarters of 2025 was negative at -¥56,667,190.81, compared to a positive cash flow of ¥16,904,544.44 in 2024[22]. - The net cash flow from investing activities was -$94.58 million, a decrease from -$123.85 million year-over-year[23]. - The total cash inflow from financing activities was $49.31 million, compared to $59.27 million in the previous period[23]. - The net cash flow from financing activities was $24.23 million, down from $34.90 million year-over-year[23]. - The net increase in cash and cash equivalents was -$127.02 million, compared to -$72.05 million in the previous period[23]. - The ending balance of cash and cash equivalents was $425.08 million, down from $543.82 million year-over-year[23]. Research and Development - Research and development (R&D) expenses totaled ¥13,894,330.78, an increase of 87.07%, accounting for 18.34% of operating revenue, up 46.14 percentage points[4][8]. - The company emphasized its commitment to increasing R&D investment to support future growth and project development[7]. - Research and development expenses increased to ¥29,434,542.91 in 2025, compared to ¥21,097,214.47 in 2024, marking an increase of 39.5%[18]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,354,986,538.47, showing a slight increase of 0.037% from the previous year[4]. - Total current assets as of September 30, 2025, amount to ¥901,108,555.51, a decrease from ¥988,891,466.09 as of December 31, 2024[13]. - Total liabilities as of September 30, 2025, are ¥110,543,575.37, down from ¥121,308,317.65[14]. - Total liabilities as of the end of the reporting period were ¥172,405,620.57, a decrease from ¥182,330,870.90 in the previous year[15]. - Total equity attributable to shareholders increased to ¥1,182,580,917.90 from ¥1,172,153,976.86, reflecting a growth of 0.4%[15]. - Long-term assets increased to ¥453,877,982.96 from ¥365,593,381.67[14]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 17,036[10]. - The largest shareholder, Xie Huaijie, holds 36,928,382 shares, accounting for 30.35% of total shares[10]. - The company has no significant changes in major shareholders due to margin trading activities[11]. Other Information - The company has not reported any significant new strategies or product developments during the reporting period[12]. - There are no applicable audit opinions for the quarterly financial statements[12]. - The company reported a basic earnings per share of ¥0.03, down 70.00% compared to the same period last year[3][8]. - The company reported a basic earnings per share of ¥0.09 for the first three quarters of 2025, down from ¥0.25 in 2024[19].