Financial Performance - The company's operating revenue for Q3 2025 was ¥97,432,750.41, representing a 10.28% increase compared to the same period last year[2] - The total profit for Q3 2025 reached ¥10,355,093.27, marking a significant increase of 36.58% year-over-year[2] - The net profit attributable to shareholders for Q3 2025 was ¥9,060,281.68, reflecting a 30.42% growth compared to the previous year[2] - The net profit after deducting non-recurring gains and losses for Q3 2025 was ¥9,186,430.45, up by 32.22% year-over-year[2] - The basic earnings per share for Q3 2025 was ¥0.093, an increase of 30.99% compared to the same period last year[2] - Total operating revenue for the first three quarters of 2025 reached ¥238,875,500.12, a slight increase of 1.07% compared to ¥236,326,138.06 in the same period of 2024[23] - For the first three quarters of 2025, the net profit reached CNY 19,597,639.09, an increase of 26.5% compared to CNY 15,534,756.23 in the same period of 2024[24] - The total profit for the first three quarters of 2025 was CNY 22,736,072.12, compared to CNY 16,773,468.09 in 2024, reflecting a growth of 35.5%[24] - The basic and diluted earnings per share for the first three quarters of 2025 were CNY 0.202, up from CNY 0.160 in 2024, representing a 26.3% increase[24] Assets and Liabilities - The total assets at the end of Q3 2025 were ¥682,305,065.52, showing a slight decrease of 0.54% from the end of the previous year[2] - Total liabilities decreased to ¥139,620,202.29 from ¥144,852,643.65, a decline of 3.99%[21] - Total equity attributable to shareholders increased slightly to ¥542,684,863.23 from ¥541,169,695.51, reflecting a growth of 0.28%[21] - Cash and cash equivalents as of September 30, 2025, totaled ¥442,081,162.22, down from ¥463,654,770.78 at the end of 2024[20] - Accounts receivable increased to ¥43,311,384.40 from ¥28,787,340.85, showing a growth of 50.00%[20] - Cash and cash equivalents at the end of the first three quarters of 2025 totaled CNY 415,602,244.38, compared to CNY 296,286,681.16 at the end of 2024, indicating a significant increase[28] Operating Activities - The net cash flow from operating activities for the year-to-date period was -¥10,879,372.80, a decrease of 68.78% compared to the previous year[2] - The net cash flow from operating activities for the first three quarters of 2025 was -CNY 10,879,372.80, an improvement from -CNY 34,846,900.30 in 2024[27] - The company reported cash inflows from operating activities of CNY 273,482,389.40 in 2025, slightly up from CNY 272,132,398.28 in 2024[27] Costs and Expenses - The total operating cost for the reporting period is RMB 17,460.66 million, a decrease of 9.18% compared to the previous year[10] - Total operating costs decreased to ¥205,446,425.65 from ¥216,491,906.73, representing a reduction of 5.83%[23] - The total operating expenses for the first three quarters of 2025 were CNY 284,361,762.20, down from CNY 306,979,298.58 in 2024, indicating improved cost management[27] Market and Sales - The company opened 14 new franchise stores during the reporting period, increasing the total number of franchise stores to 279, while closing 8 stores[8] - Online sales accounted for 78.21% of total revenue, generating RMB 17,567.85 million, with a gross profit margin of 23.43%[15] - The company reported a decrease in revenue from the North China region by 52.73%, contributing only RMB 30.66 million[16] - The company’s export revenue decreased by 7.19% to RMB 720.43 million, with a gross profit margin of 13.60%[10] Future Outlook - The company plans to continue expanding its market presence and enhance its product offerings in the upcoming quarters[8]

Financial Performance - The company's operating revenue for the third quarter reached ¥907,584,060.84, representing a year-on-year increase of 13.00%[4] - Total profit for the quarter was ¥66,153,544.18, a significant increase of 100.75% compared to the same period last year[4] - Net profit attributable to shareholders was ¥51,009,141.66, reflecting a growth of 98.07% year-on-year[4] - The basic earnings per share increased by 83.33% to ¥0.11, while diluted earnings per share doubled to ¥0.12[5] - Total operating revenue for the first three quarters of 2025 reached ¥2,326,160,092.42, an increase of 11.5% compared to ¥2,087,277,626.02 in the same period of 2024[17] - Net profit for the first three quarters of 2025 was ¥117,106,958.80, a significant increase of 46.8% from ¥79,743,219.58 in 2024[18] - Earnings per share for the first three quarters of 2025 were ¥0.27, compared to ¥0.18 in the same period of 2024, marking a 50% increase[19] Cash Flow - Cash flow from operating activities for the quarter was ¥72,455,083.01, showing a substantial improvement compared to the previous period[5] - Cash inflow from operating activities for the first three quarters of 2025 reached approximately $2.62 billion, an increase of 18.2% compared to $2.21 billion in the same period of 2024[20] - Net cash flow from operating activities was $12.44 million, a significant improvement from a net outflow of $164.50 million in the first three quarters of 2024[21] - Cash inflow from investment activities totaled approximately $613.80 million, a substantial increase from $42.41 million in the previous year[21] - Cash inflow from financing activities amounted to approximately $812.00 million, compared to $599.21 million in the first three quarters of 2024[21] - The company reported a cash outflow from operating activities totaling approximately $2.60 billion, an increase from $2.38 billion in the previous year[21] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥4,402,006,749.80, a slight increase of 0.33% from the end of the previous year[5] - Current assets totaled RMB 2,466,936,291.54, compared to RMB 2,437,182,726.99 in the previous year, indicating a growth of approximately 1.22%[13] - Total liabilities amounted to RMB 2,466,936,291.54, indicating a stable financial position[13] - Total liabilities decreased slightly to ¥2,692,434,157.45 in 2025 from ¥2,719,102,986.52 in 2024[15] - The company’s total assets amounted to ¥4,402,006,749.80 in 2025, a slight increase from ¥4,387,663,593.27 in 2024[15] Shareholder Information - The company reported a total of 17,731 common shareholders at the end of the reporting period[10] - The largest shareholder, Wangli Group Co., Ltd., holds 43.41% of the shares, amounting to 19,372.5 million shares, with 1,600 million shares pledged[10] - Shareholder equity attributable to the company reached ¥1,677,856,002.12, up by 2.62% from the previous year[5] - Total equity increased to ¥1,709,572,592.35 in 2025 from ¥1,668,560,606.75 in 2024, indicating a growth of 2.5%[15] Operational Insights - The company expects continued revenue growth driven by increased gross profit margins in the upcoming quarters[8] - Research and development expenses for the first three quarters of 2025 were ¥54,220,353.90, slightly down from ¥55,206,485.53 in 2024[17] - The company reported a financial income of ¥27,308,303.90 for the first three quarters of 2025, compared to ¥34,161,524.61 in 2024, reflecting a decrease of 20.2%[17]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥110,253,079.87, representing a year-on-year increase of 23.12%[3] - The total profit for the period was ¥1,463,459.44, with a significant decline in net profit attributable to shareholders of ¥1,230,540.25, reflecting a decrease of ¥34,503,145.52 compared to the previous year[3] - The basic and diluted earnings per share for the current period were both ¥0.0017, showing a decline from the previous year's loss of ¥0.0478[3] - Total operating revenue for the first three quarters of 2025 reached ¥281,860,683.71, a 22% increase from ¥231,030,545.43 in the same period of 2024[17] - Net profit for the first three quarters of 2025 was a loss of ¥34,503,145.52, compared to a loss of ¥46,889,888.23 in 2024, representing a 26.4% improvement[19] - Operating profit for the first three quarters of 2025 was a loss of ¥37,302,707.07, an improvement from a loss of ¥52,997,337.55 in 2024[18] - The company reported a total comprehensive loss of ¥34,503,145.52 for the first three quarters of 2025, compared to a loss of ¥46,889,888.23 in 2024[19] - Basic and diluted earnings per share for the first three quarters of 2025 were both -¥0.0478, an improvement from -¥0.0650 in 2024[19] Cash Flow and Liquidity - The net cash flow from operating activities showed a negative figure of ¥118,052,632.91, indicating cash outflows during the period[3] - Cash flow from operating activities for the first three quarters of 2025 was ¥256,887,980.39, compared to ¥238,867,039.41 in 2024, indicating a 7.5% increase[21] - The net cash flow from operating activities was -$118.05 million, compared to -$64.06 million in the previous period, indicating a decline in operational cash flow[22] - The total cash and cash equivalents at the end of the period stood at $172.79 million, down from $314.45 million at the beginning of the period, indicating a decrease in liquidity[23] - Cash outflows related to operating activities totaled $396.54 million, up from $337.60 million, highlighting increased operational expenses[22] - The company reported a cash inflow of $9.69 million from recovered investments, which was not present in the previous period, indicating a positive shift in investment recovery[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,201,230,248.10, down 4.31% from the previous year-end[4] - The equity attributable to shareholders decreased by 4.48% to ¥735,303,820.60 compared to the previous year-end[4] - Total liabilities decreased to ¥465,926,427.50 in 2025 from ¥485,573,776.61 in 2024, a reduction of approximately 4.5%[16] - Current liabilities totaled RMB 184,992,263.12, down from RMB 219,314,211.55, showing a reduction of about 15.6%[15] - Long-term liabilities, including bonds payable, increased to RMB 273,206,191.54 from RMB 257,991,407.31, an increase of approximately 5.2%[15] Shareholder Information - The total number of common shareholders at the end of the reporting period is 25,212[11] - Lingkang Holdings Group Co., Ltd. holds 339,652,800 shares, accounting for 47.09% of total shares, with 49,659,600 shares pledged[11] - The company repurchased 17,701,793 shares, representing 2.45% of the total circulating shares[12] - The top 10 shareholders do not have any changes in their shareholding due to margin trading activities[13] Operational Insights - The increase in operating revenue was attributed to the company's efforts in leveraging unique product potential and expanding its pharmaceutical distribution business[8] - The company has implemented refined management practices to control costs, contributing to the changes in profit figures[8] - Research and development expenses decreased to ¥5,982,143.02 in 2025 from ¥14,987,666.90 in 2024, a reduction of approximately 60%[18] Investment Activities - Total cash inflow from investment activities was $37.59 million, significantly lower than $196.54 million in the prior period, reflecting reduced investment returns[22] - Cash outflows for investment activities were $1.02 million, significantly lower than $11.44 million in the previous period, suggesting reduced capital expenditures[22] Accounting Standards - The company will not apply new accounting standards starting from 2025, maintaining current reporting practices[24]

Financial Performance - The company's operating revenue for Q3 2025 was CNY 972,208,049.60, representing a year-on-year increase of 0.50%[3] - The total profit for the period decreased by 55.39% to CNY 66,244,196.91, while the net profit attributable to shareholders fell by 57.16% to CNY 52,072,059.01[3] - The basic earnings per share for Q3 2025 was CNY 0.11, down 56.00% compared to the same period last year[3] - The net profit attributable to shareholders for the year-to-date was CNY 142,813,695.73, down 39.59% compared to the same period last year[3] - The net profit for the first three quarters of 2025 is CNY 164,098,722.51, a decrease of 38.5% compared to CNY 266,678,057.50 in the same period of 2024[20] - Operating profit for the first three quarters of 2025 is CNY 194,319,891.73, down 37.9% from CNY 312,936,786.76 in the previous year[20] - Total comprehensive income for the first three quarters of 2025 is CNY 192,070,597.90, compared to CNY 283,955,838.19 in the same period of 2024, reflecting a decline of 32.4%[20] Assets and Liabilities - The total assets at the end of the reporting period were CNY 5,011,970,465.69, an increase of 5.25% from the end of the previous year[4] - Total assets increased to ¥5,011,970,465.69 as of September 30, 2025, compared to ¥4,762,103,949.59 at the end of 2024, marking a growth of 5.2%[16] - Total liabilities rose to ¥2,414,030,611.34, an increase of 6.3% from ¥2,270,986,265.90[16] - The company's equity attributable to shareholders increased to ¥2,323,171,951.56 from ¥2,231,319,759.72, reflecting a growth of 4.1%[16] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date was CNY 373,548,341.45, reflecting a 42.74% increase[3] - Cash flow from operating activities generated a net amount of CNY 373,548,341.45, an increase of 42.7% from CNY 261,706,987.57 year-over-year[23] - Cash and cash equivalents at the end of the period reached CNY 500,896,170.15, up from CNY 326,782,537.39 at the end of the same period last year[23] - The company's cash and cash equivalents increased to ¥566,838,080.97 as of September 30, 2025, compared to ¥385,810,758.78 at the end of 2024, reflecting a growth of 47.0%[14] - The company reported a decrease in investment income, with losses amounting to CNY 16,491,229.60 compared to losses of CNY 13,745,291.00 in the previous year[20] Costs and Expenses - Total operating costs for the first three quarters of 2025 were ¥2,670,784,153.54, up 8.6% from ¥2,458,914,110.92 in the first three quarters of 2024[18] - Research and development expenses increased to CNY 153,514,360.81, up 26.4% from CNY 121,490,120.91 year-over-year[20] - The company's total liabilities increased, with a significant rise in financial expenses, which were reported at CNY -2,550,558.16 compared to CNY 18,331,176.74 in the previous year[20] Shareholder Information - The company reported a total of 69,026 common shareholders at the end of the reporting period[10] - The company repurchased 5,300,040 shares, accounting for 1.08% of the total share capital[12] - The company has not reported any significant changes in major shareholders or their participation in margin trading activities[12] Sales and Revenue - Total operating revenue for the first three quarters of 2025 reached ¥2,865,090,084.95, an increase of 6.0% compared to ¥2,703,078,760.57 in the same period of 2024[18] - Sales revenue from goods and services received in cash for the first three quarters of 2025 is CNY 2,138,540,330.50, a decrease of 5.1% from CNY 2,253,101,726.44 in 2024[22] - The gross profit margin for the first three quarters was 19.05%, a decrease of 2.19 percentage points year-on-year[8] Orders and Contracts - The company secured new orders with a total lifecycle value of approximately CNY 4.336 billion in Q3 2025[8] Return on Equity - The weighted average return on equity decreased by 4.49 percentage points to 6.28% year-to-date[3]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥409,094,450.78, representing a year-on-year increase of 22.24%[3] - Total profit for the period was ¥47,333,655.19, a significant increase of 530.18% compared to the same period last year[3] - Net profit attributable to shareholders was ¥38,457,105.07, reflecting a year-on-year growth of 437.31%[3] - The basic earnings per share for the period was ¥0.17, up 466.67% year-on-year[3] - Total operating revenue for the first three quarters of 2025 reached ¥1,427,274,413.13, a 22.2% increase from ¥1,167,359,955.05 in the same period of 2024[16] - Net profit for the first three quarters of 2025 was ¥221,818,155.65, up 74.0% compared to ¥127,401,899.05 in 2024[17] - Operating profit increased to ¥265,010,419.92, representing an 81.3% rise from ¥146,110,486.40 in the previous year[16] - The total profit for the first three quarters of 2025 was ¥264,641,456.20, a 81.3% increase from ¥145,915,799.56 in 2024[17] - The basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.96, up from ¥0.55 in 2024[17] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥5,421,545,320.34, an increase of 6.24% from the end of the previous year[4] - As of September 30, 2025, the total assets of the company amounted to ¥5,421,545,320.34, an increase from ¥5,103,045,369.03 as of December 31, 2024, reflecting a growth of approximately 6.24%[13] - The company's current assets totaled ¥4,386,743,674.16, up from ¥4,092,158,482.57, indicating an increase of about 7.19%[13] - The total liabilities increased to ¥1,023,335,301.29 from ¥868,205,632.29, which is an increase of approximately 17.88%[15] - The company's total liabilities increased to ¥632,072,925.40 as of September 30, 2025, from ¥520,614,963.55 at the end of 2024, representing a rise of about 21.4%[24] - The company's equity attributable to shareholders rose to ¥4,394,185,532.28 from ¥4,234,839,736.74, reflecting an increase of about 3.77%[15] - The total equity of the company as of September 30, 2025, was ¥4,421,951,826.55, an increase from ¥4,328,045,581.17 at the end of 2024, representing a growth of approximately 2.2%[24] Cash Flow - The net cash flow from operating activities showed a negative value of -¥11,461,022.43, a decline of 106.18% compared to the previous year[3] - Cash flow from operating activities showed a net outflow of ¥11,461,022.43, contrasting with a net inflow of ¥185,527,598.62 in the same period last year[19] - The net cash flow from operating activities for the first three quarters of 2025 was ¥43,102,465.84, a significant increase from ¥14,132,938.42 in the same period of 2024, representing a growth of approximately 205%[30] - The company reported a net cash outflow from investing activities of ¥158,805,835.80, an improvement from a net outflow of ¥233,284,768.25 in the previous year[21] - The net cash flow from investment activities was -¥213,685,709.50 in 2025, an improvement from -¥245,189,463.90 in 2024, indicating a reduction in losses by approximately 13%[30] - The net cash flow from financing activities was -¥46,580,546.77 in 2025, compared to -¥171,784,142.09 in 2024, showing a significant improvement of approximately 72.9%[31] Shareholder Information - The company reported a total of 27,843 common shareholders at the end of the reporting period[10] - The company reported a total of 65,333,760 shares held by the largest shareholder, Zheng Hong, indicating significant ownership concentration[11] - The company has not reported any changes in the participation of major shareholders in margin trading or securities lending activities[11] Research and Development - Research and development expenses rose to ¥96,910,100.51, a 20.7% increase from ¥80,331,735.79 in 2024[16] - Research and development expenses for the first three quarters of 2025 were ¥30,647,574.46, down from ¥35,119,405.49 in 2024, showing a decrease of approximately 12.6%[27] Inventory and Receivables - Accounts receivable rose significantly to ¥1,663,249,576.51 from ¥1,157,358,888.50, marking an increase of around 43.66%[13] - The inventory decreased slightly to ¥781,528,505.21 from ¥796,597,786.28, showing a decline of approximately 1.89%[13] - The company's inventory as of September 30, 2025, was ¥680,883,088.49, slightly up from ¥656,295,462.29 at the end of 2024, indicating a growth of about 3.8%[22] Other Financial Metrics - The weighted average return on equity increased to 0.87%, up by 0.70 percentage points from the previous year[3] - The gross profit margin for the first three quarters of 2025 was approximately 36.5%, compared to 35.0% in the same period of 2024, indicating an improvement in profitability[27] - Total assets impairment losses increased to ¥42,528,462.32, compared to ¥17,642,247.88 in the previous year[16] - The cash and cash equivalents decreased to ¥831,380,351.87 from ¥1,011,312,574.42, representing a decline of approximately 17.79%[13] - Cash and cash equivalents at the end of the period were ¥829,383,540.38, down from ¥1,033,832,384.58 at the end of the same period in 2024[21] - Cash inflow from sales of goods and services was ¥807,674,058.77 in the first three quarters of 2025, a decline from ¥903,464,039.40 in 2024, representing a decrease of approximately 10.6%[30] - Total cash outflow from operating activities was ¥773,487,744.49 in 2025, compared to ¥907,059,460.89 in 2024, indicating a reduction of about 14.7%[30] - The cash paid for purchasing goods and services was ¥513,386,581.06 in 2025, down from ¥619,133,974.95 in 2024, reflecting a decrease of approximately 17.1%[30] - The cash paid to employees decreased to ¥115,340,030.32 in 2025 from ¥131,666,535.41 in 2024, a reduction of about 12.4%[30] Strategic Developments - The company experienced strong customer demand recovery, significantly boosting its core business revenue and improving profitability[8] - There are no significant new strategies or product developments mentioned in the conference call[12]

Financial Performance - The total profit for Q3 reached 4.057 billion RMB, an increase of 103.42% year-on-year, while the cumulative profit for the first three quarters was 10.643 billion RMB, up 29.39% compared to the same period last year[5] - The company achieved a total revenue of 81.064 billion RMB in Q3, reflecting a year-on-year increase of 1.83%, while the cumulative revenue for the first three quarters was 232.436 billion RMB, down 4.29% from the previous year[5] - The net profit attributable to shareholders for Q3 was 3.081 billion RMB, a 130.31% increase year-on-year, with a cumulative net profit of 7.959 billion RMB for the first three quarters, up 35.32%[5] - Total operating revenue for the first three quarters of 2025 was CNY 232.44 billion, a decrease of 4.8% compared to CNY 242.86 billion in the same period of 2024[19] - Net profit for the first three quarters of 2025 reached CNY 8.91 billion, an increase of 29.3% from CNY 6.89 billion in 2024[20] - Earnings per share for the first three quarters of 2025 were CNY 0.37, compared to CNY 0.27 in the same period of 2024[20] - The total comprehensive income for the first three quarters of 2025 was approximately $5.38 billion, down from $6.80 billion in the same period of 2024[29] Production and Sales - The company achieved iron production of 12.766 million tons and steel production of 13.056 million tons in the quarter, with a total sales volume of 13.955 million tons of finished products, resulting in a consolidated profit of RMB 4.06 billion[15] - For the first three quarters, the company reported cumulative iron production of 36.48 million tons, steel production of 38.787 million tons, and finished product sales of 39.262 million tons, achieving a consolidated profit of RMB 10.64 billion[15] - The sales volume of differentiated products reached 25.689 million tons in the first three quarters, an increase of 13.9% year-on-year[3] - The company exported 5.169 million tons in the first three quarters, marking a 10.9% increase compared to the same period last year[3] Cash Flow and Liquidity - The net cash flow from operating activities for the first three quarters was 30.843 billion RMB, a significant increase of 97.23% year-on-year[6] - The company’s cash flow statement for the first three quarters of 2025 indicates a healthy liquidity position, with cash inflows from operating activities remaining strong[21] - Cash flow from operating activities for the first three quarters of 2025 was approximately $6.03 billion, a significant increase from $327.75 million in the same period of 2024[32] - The company reported a significant increase in cash flow from financing activities, with a net inflow of approximately $4.55 billion in the first three quarters of 2025, compared to $2.89 billion in the same period of 2024[32] Assets and Liabilities - The company’s asset-liability ratio stood at 40.65% as of the end of September, indicating a stable financial structure[6] - Total assets increased to CNY 376.26 billion in 2025 from CNY 364.87 billion in 2024, reflecting a growth of 3.8%[18] - Total liabilities rose to CNY 152.95 billion in 2025, up from CNY 144.71 billion in 2024, marking an increase of 5.5%[18] - The company’s total liabilities increased to CNY 96.34 billion as of September 30, 2025, compared to CNY 89.35 billion at the end of 2024, representing an increase of 7.2%[26] Innovation and Development - The company launched 6 new products and 42 landmark technologies in the first three quarters, with a total of 1,027 invention patent applications filed[3] - The company is focusing on innovation and integration of production, sales, and research to enhance operational efficiency[14] - The company is committed to its development strategy of "innovation-driven, efficiency-oriented, and scale expansion" to strengthen its market position[14] - Research and development expenses for the first three quarters of 2025 were CNY 2.53 billion, slightly up from CNY 2.45 billion in 2024[19] Market Conditions - The company is navigating challenges in the steel industry characterized by strong supply and weak demand, facing pressures from rising costs and the need for transformation[14] - The domestic steel price index increased by 1.8% compared to the second quarter, while the Platts 62% iron ore index rose by 4.4%[14] Shareholder Information - The top shareholder, China Baowu Steel Group Co., Ltd., holds 44.20% of the shares, with a pledged share count of 1.375 billion[12] Inventory and Financial Management - The company’s inventory as of September 30, 2025, was RMB 39.124 billion, compared to RMB 38.188 billion at the end of 2024[16] - The company’s cash and cash equivalents amounted to RMB 26.599 billion as of September 30, 2025, up from RMB 26.152 billion at the end of 2024[16] - The company reported a net cash outflow from investing activities of CNY 17.36 billion in the first three quarters of 2025, compared to a net outflow of CNY 15.76 billion in the same period of 2024[22] - The company’s cash inflow from financing activities decreased to CNY 23.24 billion in the first three quarters of 2025, compared to CNY 31.20 billion in the same period of 2024[23] - The company reported a decrease in financial expenses, with interest expenses at approximately $860.17 million, down from $983.49 million in the previous year[29]

Financial Performance - The company's operating revenue for the third quarter was CNY 17,867,711.10, a decrease of 7.61% compared to the same period last year[4] - Total profit for the quarter reached CNY 168,516,961.64, an increase of 73.20% year-on-year[4] - Investment income for the quarter was CNY 34,149,685.74, reflecting a growth of 30.06% compared to the previous year[4] - Fair value change income amounted to CNY 179,002,918.32, up 54.23% from the same period last year[4] - The net profit attributable to shareholders was CNY 103,555,381.50, representing a year-on-year increase of 39.81%[4] - Basic earnings per share for the quarter were CNY 0.14, a rise of 40.00% compared to the previous year[5] - The company reported a significant increase in investment income for the year-to-date period, with a growth of 273.69%[4] - Net profit for the first three quarters of 2025 was CNY 321,155,869.61, compared to CNY 310,284,430.02 in 2024, reflecting an increase of about 3.1%[23] - The company's net profit for the first three quarters of 2025 was CNY 173,219,862.85, a decrease from CNY 210,687,755.10 in the same period of 2024, representing a decline of approximately 17.8%[33] - Operating profit for the first three quarters of 2025 was CNY 231,124,415.15, compared to CNY 187,919,632.82 in 2024, indicating an increase of about 23.0%[33] Assets and Liabilities - Total assets at the end of the reporting period were CNY 9,327,153,436.55, an increase of 3.93% from the end of the previous year[5] - The company’s total liabilities rose to CNY 4,544,386,726.56 from CNY 4,230,025,016.77, an increase of about 7.4%[20] - Total equity increased to CNY 4,782,766,709.99 from CNY 4,744,122,437.12, showing a growth of approximately 0.8%[20] - Total assets increased to CNY 7.06 billion from CNY 6.51 billion year-over-year[29] - Total liabilities rose to CNY 3.88 billion, up from CNY 3.46 billion year-over-year[30] Cash Flow - Cash flow from operating activities was CNY 42,655,000.47, down from CNY 60,875,381.87 in the previous year, indicating a decrease of about 30%[25] - Operating cash inflow totaled CNY 157.75 million, up from CNY 82.24 million year-over-year[26] - Net cash flow from operating activities was CNY 19.16 million, compared to a negative CNY 10.78 million in the previous year[26] - The net cash flow from operating activities for the first three quarters of 2025 was negative at CNY -2,627,014.49, down from CNY 511,343.29 in 2024[35] - The net cash flow from financing activities for the first three quarters of 2025 was CNY 156,696,136.56, compared to a negative CNY -413,715,689.44 in 2024, showing a significant improvement[35] Shareholder Information - Shandong Lixin Investment Holding Group Co., Ltd. holds 69.00% of the company's shares, making it the controlling shareholder[14] - The number of shares held by the top ten shareholders reflects a concentration of ownership, with the top shareholder holding over 68%[14] - There were no changes reported in the participation of major shareholders in margin trading or securities lending[14] Investment Activities - Investment income significantly increased to CNY 285,870,799.50 from CNY 76,499,938.47, marking a growth of approximately 273.5%[23] - Net profit from investment activities decreased to CNY 156.47 million from CNY 275.90 million year-over-year[32] - The company reported a fair value change gain of CNY 119,289,825.71 for the current period[33] - The company incurred a credit impairment loss of CNY -4,426,675.06, an improvement from a loss of CNY -36,125,692.26 in the previous period[33] Future Outlook - The company plans to implement new accounting standards starting in 2025, which may affect future financial reporting[37]

Financial Performance - The company's operating revenue for the third quarter reached ¥2,676,509,633.70, representing a year-on-year increase of 34.19%[5] - The total profit for the quarter was ¥73,202,569.33, showing a slight increase of 1.51% compared to the same period last year[5] - The net profit attributable to shareholders decreased by 6.84% to ¥65,994,830.63, while the net profit excluding non-recurring gains and losses increased by 8.64% to ¥64,324,749.10[5] - Year-to-date operating revenue reached ¥6,534,189,110.80, up 32.64% year-on-year[5] - For the period from January to September 2025, the company achieved operating revenue of RMB 6.534 billion, an increase of 32.64% year-on-year; net profit attributable to shareholders was RMB 120 million, up 11.58% year-on-year[13] - Total operating revenue for the first three quarters of 2025 reached ¥6,534,189,110.80, a 32.5% increase from ¥4,926,212,263.35 in the same period of 2024[28] - Net profit for the first three quarters of 2025 was ¥116,855,300.46, compared to ¥106,813,769.73 in 2024, reflecting a growth of 4.9%[28] - The company’s total profit for the first three quarters of 2025 was ¥138,829,001.88, slightly up from ¥128,970,735.27 in 2024, reflecting a growth of 5.7%[28] Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period was negative at -¥1,383,835,501.34, a decline of 162%[5] - The company's cash and cash equivalents decreased significantly from CNY 2.56 billion in 2024 to CNY 975 million in 2025, representing a decline of about 61.9%[24] - Cash and cash equivalents at the end of the third quarter of 2025 stood at ¥928,102,570.14, down from ¥1,740,704,575.61 in 2024[31] - The company's current assets totaled CNY 8.74 billion, compared to CNY 8.86 billion at the end of 2024, indicating a decrease of approximately 1.4%[24] - The total assets at the end of the reporting period were ¥11,137,435,804.21, a decrease of 1.53% from the previous year[6] Shareholder Information - The company has a total of 39,307 common shareholders as of the reporting period[10] - The equity attributable to shareholders increased from CNY 4.28 billion in 2024 to CNY 4.36 billion in 2025, showing an increase of approximately 1.9%[25] Investment and Projects - The company is actively involved in the development of hydrogen energy, with 23 projects identified in the hydrogen sector as part of the second batch of green low-carbon advanced technology demonstration projects[17] - The company plans to implement new technologies for carbon capture and utilization, aiming to enhance the clean and low-carbon technology level of its power generation units[17] - The company is exploring the integration of 5G and artificial intelligence technologies in the operation and maintenance of coal power units to improve efficiency and flexibility[15] - The company is set to benefit from the market opportunities created by the annual flexibility transformation of thermal power, which is expected to generate hundreds of billions of yuan in market space[15] - The company is actively pursuing projects related to green ammonia and green methanol, with a focus on integrating hydrogen storage and ammonia production[21] - The company has established a pilot facility for producing 10,000 tons of green ammonia and 1,000 tons of green methanol[21] - The company has developed a fully autonomous gravity energy storage dynamic simulation test platform, enhancing its capabilities in energy storage technology[20] - The company has established a molten salt thermal storage test platform, which is the first of its kind in the country, aimed at enhancing technology development and project management capabilities in this field[23] Technology and Innovation - The company has successfully completed performance assessments for three hydrogen production projects, achieving commercial operation in 2024[18] - The Inner Mongolia Huadian Damaoqi project has achieved full capacity production, incorporating a 20% natural gas-hydrogen blend combustion[18] - The new type of shore bridge developed by the company has achieved a maximum operational efficiency of 54 moves/hour, equivalent to 108 TEU/hour[19] - The company has signed contracts for 5 automated rail-mounted container cranes, with ongoing site debugging work at the terminal[19] - The company is actively involved in deep peak shaving projects for thermal power plants in various regions, leveraging its molten salt thermal storage technology[23] - The company has completed the debugging of its test platform and plans to use it as a foundation for continuous technological innovation in the molten salt storage sector[23] - The company is advancing the development of key technologies for carbon capture and utilization in methanol production[21] Research and Development - Research and development expenses increased to ¥201,588,868.37 in 2025, up from ¥160,663,656.57 in 2024, marking a rise of 25.5%[28]

Financial Performance - The company's revenue for the third quarter was ¥95,539,646.52, a decrease of 38.41% compared to the same period last year[4] - Total profit for the quarter was ¥2,745,852.23, down 86.30% year-over-year[4] - Net profit attributable to shareholders was ¥5,052,702.96, reflecting a decline of 75.31% compared to the previous year[4] - The basic earnings per share for the quarter was ¥0.04, a decrease of 75.00% year-over-year[4] - Net profit for the first three quarters of 2025 was CNY 64,308,065.31, down 52.7% from CNY 135,748,290.64 in the same period of 2024[19] - Basic and diluted earnings per share for the first three quarters of 2025 were both CNY 0.51, compared to CNY 1.07 in the same period of 2024[20] - The company’s total comprehensive income for the first three quarters of 2025 was CNY 60,620,699.74, down from CNY 143,387,343.88 in the same period of 2024[19] Cash Flow and Assets - The company reported a net cash flow from operating activities of ¥1,182,438.02, a significant drop of 95.13% year-to-date[4] - Cash and cash equivalents decreased to RMB 196,861,400.08 from RMB 467,922,697.94, representing a decline of approximately 58%[15] - Total current assets were RMB 4,629,730,923.04, down from RMB 4,769,982,927.28, indicating a decrease of about 3%[15] - Cash flow from operating activities generated a net amount of CNY 1,182,438.02, significantly lower than CNY 24,260,942.83 in the first three quarters of 2024[20] - The total cash flow from operating activities was not detailed, but the overall cash and cash equivalents decreased by 276,540,863.67 during the period[21] - Cash and cash equivalents at the end of the period amounted to 181,742,814.48, slightly up from 181,017,444.31 in the previous period[21] Liabilities and Equity - The company reported a total liability of CNY 484,843,392.64, down from CNY 569,523,608.49 in the previous year[17] - Total equity attributable to shareholders decreased to CNY 5,162,604,172.76 from CNY 5,203,599,188.59[17] - Total liabilities included accounts payable of RMB 278,902,535.40, down from RMB 327,672,505.40, a decrease of about 15%[16] - The company reported a significant reduction in employee compensation liabilities, decreasing to RMB 11,374,288.37 from RMB 19,864,855.74, a decline of approximately 43%[16] Operational Costs and Expenses - Research and development expenses totaled ¥16,292,479.86, a decrease of 40.59% compared to the same period last year[5] - Total operating costs increased slightly to CNY 392,903,928.66 from CNY 390,136,270.04, with operating costs specifically decreasing from CNY 233,453,244.12 to CNY 192,489,887.23, a reduction of 17.5%[18] - Other income decreased to CNY 5,594,830.22 from CNY 14,581,342.75, indicating a decline in additional revenue sources[18] Shareholder Information - The company has no pledged or frozen shares among its top shareholders, indicating a stable ownership structure[12] - The largest shareholder, Hangzhou Aixi Holdings, holds 26.87% of the shares, while the second-largest shareholder, Ling Shisheng, holds 25.12%[12] - The company has not reported any significant changes in shareholder relationships or actions regarding stock lending[13] Future Outlook - The company plans to implement new accounting standards starting in 2025, which may affect future financial reporting[22] - The company attributed the decline in performance primarily to the impact of U.S. tariffs causing customers to delay orders and foreign exchange losses[9]

Financial Performance - The company's operating revenue for the third quarter was ¥592,215,558.91, a decrease of 15.74% compared to the same period last year[4] - The total profit for the third quarter was -¥29,812,965.01, representing an increase of 42.44% year-on-year[4] - The net profit attributable to shareholders was -¥26,838,871.21, reflecting a 45.93% increase compared to the same quarter last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥34,805,677.92, a decrease of 34.67% year-on-year[4] - The basic earnings per share for the third quarter was -¥0.1300, an increase of 45.54% compared to the same period last year[4] - Total operating revenue for the first three quarters of 2025 was RMB 1,991,274,646.75, a decrease of 9.45% compared to RMB 2,198,902,945.07 in the same period of 2024[18] - The net profit for the first three quarters of 2025 was -21,415,825.28 RMB, compared to -91,351,734.39 RMB in the same period of 2024, showing an improvement[19] - The company reported a total comprehensive loss of -21,648,048.11 RMB for the first three quarters of 2025, compared to -90,875,229.29 RMB in 2024[19] - The basic and diluted earnings per share for the first three quarters of 2025 were both -0.1174 RMB, an improvement from -0.4503 RMB in 2024[19] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,412,557,179.21, an increase of 1.68% from the end of the previous year[5] - Total assets as of September 30, 2025, amounted to RMB 3,412,557,179.21, an increase from RMB 3,356,330,821.20 at the end of 2024[16] - Total liabilities as of September 30, 2025, were RMB 1,513,863,346.68, compared to RMB 1,438,950,953.60 at the end of 2024, reflecting an increase of 5.2%[15] - The company's equity attributable to shareholders was RMB 1,805,945,809.76 as of September 30, 2025, down from RMB 1,825,205,300.81 at the end of 2024[16] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥123,572,668.05, a decrease of 403.86% compared to the same period last year[4] - Operating cash flow for the first three quarters of 2025 was -123,572,668.05 RMB, a decline from -24,525,152.38 RMB in 2024[21] - Cash and cash equivalents as of September 30, 2025, were RMB 339,878,449.86, a decrease from RMB 658,162,888.55 at the end of 2024[13] - The cash and cash equivalents at the end of the period were 324,054,571.21 RMB, down from 456,160,441.44 RMB at the end of the same period in 2024[22] - The net cash flow from investing activities for the first three quarters of 2025 was -326,134,696.41 RMB, an improvement from -414,466,502.31 RMB in 2024[22] Operating Costs and Expenses - Total operating costs for the first three quarters of 2025 were RMB 1,985,006,859.22, down 11.58% from RMB 2,244,815,413.87 in the previous year[18] - Operating costs included RMB 1,752,043,398.69 for cost of goods sold, which decreased from RMB 2,010,765,649.25 in 2024, indicating a reduction of 13.0%[18] - The company incurred a total operating expense of 1,786,725,003.70 RMB in 2025, slightly lower than 1,791,219,170.68 RMB in 2024[21] Research and Development - Research and development expenses for the first three quarters of 2025 were RMB 67,148,435.29, slightly down from RMB 67,239,395.73 in 2024[18] Borrowings and Financing - The company reported a significant increase in short-term borrowings, rising to RMB 273,000,000.00 from RMB 97,000,000.00 in the previous period[14] - The company received cash from borrowings amounting to 632,932,853.04 RMB in 2025, compared to 547,064,682.03 RMB in 2024, reflecting an increase of approximately 15.7%[22] Non-Recurring Gains - The company reported non-recurring gains of ¥7,966,806.71 for the third quarter, with government subsidies contributing ¥3,454,396.25[7] - The company reported a decrease in other comprehensive income attributable to the parent company, with a net amount of -411,969.10 RMB in 2025 compared to 240,764.10 RMB in 2024[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,554[10] - The weighted average return on net assets was -1.47%, an increase of 1.12 percentage points compared to the previous year[4]