Financial Performance - The company's revenue for Q3 2025 reached ¥464,672,799, representing a significant increase of 1,717.41% compared to the same period last year[2]. - Year-to-date revenue until the report date totaled ¥565,838,248, marking a 301.03% increase year-over-year[2]. - The total profit for the period was a loss of ¥30,501,808.77, with a year-to-date loss of ¥582,677,606.59[2]. - The net profit attributable to shareholders for the quarter was a loss of ¥46,341,079.99, and a year-to-date loss of ¥597,660,144.75[2]. - Total operating revenue for the first three quarters of 2025 reached ¥565,838,248.14, a significant increase from ¥141,095,928.06 in the same period of 2024, representing a growth of approximately 301.5%[30]. - The net loss for the first three quarters of 2025 was ¥599,596,769.92, slightly improved from a net loss of ¥696,015,164.94 in the same period of 2024[31]. - The net profit attributable to the parent company for the current period is -597,660,144.75 RMB, compared to -694,090,343.42 RMB in the previous period, showing an improvement[32]. - The total comprehensive income for the current period is -599,594,105.76 RMB, compared to -697,030,853.80 RMB in the previous period, indicating a reduction in losses[32]. Research and Development - Research and development expenses for the quarter amounted to ¥320,063,326.41, an increase of 101.45% year-over-year, accounting for 68.88% of revenue[3]. - Research and development expenses for the first three quarters of 2025 totaled ¥712,154,824.51, up from ¥481,008,266.28 in 2024, reflecting a year-over-year increase of approximately 48.0%[31]. - The company is advancing its differentiated innovation research and development, achieving significant results in its pipeline[13]. - The company has 14 core products in various stages, including 10 innovative drugs and 4 biosimilars, focusing on oncology and age-related diseases[13]. Clinical Trials and Product Development - As of the report date, 9MW2821 has enrolled over 1,600 patients in clinical trials, with three ongoing Phase III trials for various cancers[14]. - The company completed the first patient dosing for 9MW2821 in a clinical trial for ADC-treated triple-negative breast cancer in August 2025[13]. - The company observed positive efficacy signals for both 9MW2821 and JS207 in triple-negative breast cancer patients, indicating potential new treatment options[13]. - The company has one product in the marketing approval review stage and two products in Phase III critical registration clinical trials[13]. - The company’s innovative drug pipeline includes therapies for urinary tract cancer, cervical cancer, triple-negative breast cancer, and esophageal cancer[14]. - The company is focusing on expanding its market presence through innovative product development and clinical trials[13]. - The company is advancing the clinical II phase study of its innovative drug 9MW1911, a humanized anti-ST2 monoclonal antibody for chronic obstructive pulmonary disease (COPD), with the first dosing expected by July 2025 and a target of at least 120 subjects for interim analysis[15]. - The company’s 9MW3011, a targeted TMPRSS6 monoclonal antibody for polycythemia vera (PV), has achieved a milestone with the first dosing in the II phase clinical study in the U.S. scheduled for September 2025[16]. - The company’s 9MW3811, a humanized anti-IL-11 monoclonal antibody, has shown good safety and a half-life exceeding one month in I phase trials, with plans to initiate a II phase trial for pathological scars by the end of 2025[17]. - The company’s 7MW4911, an anti-CDH17 antibody-drug conjugate, received FDA clinical trial approval in August 2025 for advanced colorectal cancer and other gastrointestinal tumors[18]. Strategic Partnerships and Agreements - The company has entered into a strategic licensing agreement with Kalexo Bio, Inc. for the 2MW7141 project, potentially worth up to $1 billion in milestone payments and royalties, including an upfront payment of $12 million[21]. - The company has signed commercialization agreements for its biosimilar drugs 9MW0311 and 9MW0321 with UNILAB, INC. in the Philippines, marking a significant step in its global expansion strategy[22]. Financial Position and Cash Flow - Total assets as of the end of the reporting period were ¥4,527,089,263.10, reflecting a 5.88% increase from the end of the previous year[3]. - Cash and cash equivalents as of September 30, 2025, were ¥1,441,846,861.37, an increase from ¥1,192,626,723.55 at the end of 2024, representing a growth of about 20.9%[25]. - The total assets of the company as of September 30, 2025, were ¥4,527,089,263.10, compared to ¥4,275,508,853.05 at the end of 2024, showing an increase of approximately 5.9%[26]. - Current liabilities increased to ¥2,158,018,752.66 as of September 30, 2025, from ¥1,541,715,656.18 at the end of 2024, marking a rise of about 40.0%[26]. - Long-term borrowings decreased to ¥948,763,657.80 as of September 30, 2025, down from ¥1,006,446,352.48 at the end of 2024, indicating a reduction of approximately 5.7%[26]. - The company's total equity as of September 30, 2025, was ¥945,582,468.34, a decrease from ¥1,555,778,048.33 at the end of 2024, reflecting a decline of about 39.2%[26]. - The company reported a significant increase in accounts receivable, which rose to ¥57,294,132.08 as of September 30, 2025, compared to ¥38,343,632.47 at the end of 2024, representing an increase of approximately 49.5%[25]. - Cash inflow from operating activities for the first three quarters of 2025 is 862,766,573.45 RMB, significantly up from 299,141,739.35 RMB in the same period of 2024[34]. - The net cash flow from operating activities is -103,031,469.59 RMB, an improvement from -668,220,791.06 RMB year-over-year[34]. - Cash outflow for investment activities is 383,466,693.34 RMB, down from 525,231,877.39 RMB in the previous year, reflecting a decrease in investment spending[35]. - The net cash flow from financing activities is 517,247,450.36 RMB, compared to 827,134,397.42 RMB in the previous period, indicating a decline in financing inflows[35]. - The ending cash and cash equivalents balance is 1,439,429,197.30 RMB, down from 1,598,440,866.22 RMB in the previous year[35]. - The company received 200,000,000.00 RMB from minority shareholders as part of investment inflows[35]. Shareholder Information - The basic and diluted earnings per share for the quarter were both -¥0.12, reflecting a significant decrease in net losses compared to the previous year[2]. - The basic and diluted earnings per share for the current period are both -1.50 RMB, an improvement from -1.74 RMB in the previous period[32]. - As of September 30, 2025, the company has repurchased 202,138 shares, accounting for 0.05% of its total share capital, with a total expenditure of approximately RMB 10.69 million[23].

Financial Performance - The company's revenue for the third quarter reached ¥231,299,714.08, representing a year-on-year increase of 71.46%[3] - The total profit for the period was a loss of ¥203,910,752.21, with a cumulative loss of ¥582,901,080.21 for the year to date[3] - The basic earnings per share for the current period was -¥0.44, compared to -¥1.32 for the year to date[3] - The net profit for the first three quarters of 2025 was -582,953,152.35 RMB, compared to -649,647,448.06 RMB in the same period of 2024, showing an improvement[25] - Basic and diluted earnings per share for the first three quarters of 2025 were both -1.32 RMB, slightly better than -1.35 RMB in 2024[25] - The total comprehensive income attributable to the parent company's owners was -579,947,780.97 RMB in 2025, compared to -558,460,529.94 RMB in 2024[25] Research and Development - Research and development expenses totaled ¥235,968,603.38, accounting for 102.02% of revenue in the current period, a decrease of 35.09 percentage points[4] - The company plans to maintain stable funding for ongoing clinical research and development of its products[9] - The company is actively expanding its research and development efforts, particularly in the field of T-cell lymphoma treatment, as evidenced by multiple studies on its product, 高瑞哲®[16] - Research and development expenses increased to 644,235,609.66 RMB in 2025 from 567,728,545.76 RMB in 2024, reflecting a growth of approximately 13.5%[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,955,346,622.51, an increase of 71.95% compared to the end of the previous year[4] - The equity attributable to shareholders of the listed company increased to ¥1,440,437,716.45, reflecting a significant rise of 643.43% year-on-year[4] - As of September 30, 2025, the company's total assets amounted to RMB 2,955,346,622.51, a significant increase from RMB 1,718,737,884.05 at the end of 2024[19][21] - The company’s total liabilities as of September 30, 2025, were RMB 1,511,613,180.21, slightly down from RMB 1,518,680,986.42 at the end of 2024[21] Cash Flow - The net cash flow from operating activities was -¥159,387,479.24 for the current period, with a cumulative cash flow of -¥424,056,847.98 for the year[3] - Operating cash flow for the first three quarters of 2025 was -424,056,847.98 RMB, slightly better than -463,308,340.42 RMB in 2024[28] - The company reported a significant increase in cash inflow from investment activities, totaling 7,282,910,041.68 RMB in 2025 compared to 2,709,870,267.04 RMB in 2024[28] - The net cash flow from financing activities was 1,640,908,417.60 RMB in 2025, compared to 606,803,240.41 RMB in 2024, indicating a substantial increase[29] Shareholder Information - The total number of common shareholders at the end of the reporting period is 8,806[11] - The largest shareholder, Advanced Manufacturing Industry Investment Fund, holds 108,923,023 shares, representing 23.71% of total shares[11] - AstraZeneca AB also holds 108,923,023 shares, accounting for 23.71%[11] - The company’s stockholders include Jiangsu Wuxi Dize Enterprise Management Partnership, holding 57,451,788 shares, or 12.51%[11] - The company’s stockholders also include Industrial Bank Co., Ltd. - Yongying Pharmaceutical Innovation Mixed Fund, holding 5,910,918 shares, or 1.29%[11] Product Development and Approvals - The company received FDA accelerated approval for ZEGFROVY® on July 2025, making it the first and only EGFR Exon20ins NSCLC innovative drug approved in the U.S.[13] - The company presented 11 new research results in the NSCLC field at the 2025 WCLC, demonstrating good efficacy and safety for ZEGFROVY® across various treatment stages[14] - Birelentinib (DZD8586) received FDA Fast Track Designation in August 2025 for treatment of relapsed/refractory CLL/SLL patients[15] - The company has initiated an international multi-center Phase III clinical study for birelentinib targeting relapsed/refractory CLL/SLL[15] - The company’s research on high瑞哲® (Golitinib) in combination with anti-PD-1 monoclonal antibodies is ongoing, providing important evidence for its clinical application in NSCLC[14] Operating Costs - Total operating revenue of RMB 586,301,134.90 for the first three quarters of 2025, a significant increase from RMB 338,451,000.00 in the same period of 2024, representing a growth of approximately 73.4%[23] - Total operating costs for the first three quarters of 2025 were RMB 1,234,483,936.24, compared to RMB 1,031,763,876.35 in the first three quarters of 2024, indicating an increase of about 19.6%[23] - The company incurred financial expenses of 22,699,804.01 RMB in 2025, up from 15,863,566.73 RMB in 2024, representing a rise of about 43.3%[24] - Sales revenue from goods and services received cash of 559,618,110.76 RMB in 2025, compared to 351,202,757.00 RMB in 2024, marking a growth of approximately 59.4%[28]

Financial Performance - The company's operating revenue for Q3 2025 was ¥370,104,433.59, a decrease of 9.10% compared to the same period last year[2] - The total profit for the year-to-date period reached ¥43,188,408.71, representing a significant increase of 121.43% year-on-year[2] - The net profit attributable to shareholders was ¥15,065,073.49 for Q3, with a year-to-date net profit of ¥35,580,345.68, up by 52.24% compared to the previous year[2] - Total operating revenue for the first three quarters of 2025 was CNY 1,091,174,507.59, a decrease of 6.93% compared to CNY 1,172,582,357.70 in the same period of 2024[20] - Net profit for the first three quarters of 2025 reached CNY 37,619,191.80, an increase of 111.57% compared to CNY 17,756,191.67 in 2024[21] - Total comprehensive income attributable to the parent company reached CNY 35,580,345.68, up from CNY 23,370,783.44 in the same period last year, reflecting a significant increase[22] Cash Flow and Liquidity - The cash flow from operating activities for the year-to-date period was ¥138,301,402.23, an increase of 127.20% year-on-year[2] - Net cash flow from operating activities was CNY 138,301,402.23, compared to CNY 60,871,263.36 in the previous year, indicating a strong improvement[23] - The company's cash and cash equivalents as of September 30, 2025, amount to ¥333,813,137.88, down from ¥473,259,278.53 as of December 31, 2024[14] - The company's cash and cash equivalents at the end of the period were CNY 331,935,292.98, slightly up from CNY 317,334,790.26 in the previous year[23] - The cash flow from operating activities increased to CNY 222,384,105.63 in 2025 from CNY 75,964,754.54 in 2024, representing a significant improvement[32] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,748,656,827.16, an increase of 1.80% from the end of the previous year[3] - Total liabilities increased slightly to CNY 1,237,284,887.61 from CNY 1,225,875,968.24, representing a growth of 0.11%[16] - The company's total assets amounted to CNY 2,748,656,827.16, up from CNY 2,700,018,947.74 in the previous year, indicating a growth of 1.8%[17] - Total liabilities decreased to CNY 721,826,614.49 from CNY 747,832,804.45, indicating a reduction in financial obligations[26] Shareholder Information - Total number of common shareholders at the end of the reporting period is 4,681[10] - The largest shareholder, Yongzhuo Holdings Limited, holds 36,620,000 shares, representing 29.98% of total shares[10] - Jiangsu Feixiang Chemical Co., Ltd. is the second-largest shareholder with 22,818,310 shares, accounting for 18.68%[10] - The company has a total of 2,046,896 shares held by Beijing Ruishi Bang Fine Chemical Technology Co., Ltd., representing 1.68% of total shares[11] - The employee stock ownership plan holds 2,667,312 shares, which is 2.18% of total shares[10] Research and Development - Research and development expenses totaled ¥16,246,711.73 for Q3, accounting for 4.39% of operating revenue, a slight increase from 4.84% year-on-year[3] - Research and development expenses for the first three quarters of 2025 were CNY 52,806,652.82, slightly down from CNY 53,463,209.71 in 2024[20] - The company's research and development expenses for the first three quarters of 2025 were CNY 29,469,451.02, slightly up from CNY 28,116,914.78 in the same period of 2024[28] Financial Expenses and Income - The company reported a significant increase in other income to CNY 18,774,609.94, compared to CNY 9,506,751.07 in the previous year, reflecting a growth of 97.66%[20] - The company’s financial expenses increased to CNY 9,936,126.37 from CNY 4,042,056.92, indicating a rise of 145.5%[20] - The company reported a financial expense of CNY 7,698,253.32 in 2025, significantly higher than CNY 2,807,369.44 in 2024, primarily due to increased interest expenses[28] Government Subsidies - The company received government subsidies amounting to ¥2,599,469.87 during the year-to-date period, contributing to the overall profit increase[5]

Financial Performance - Total revenue for Q3 2025 was CNY 443,443,041.43, an increase of 4.37% compared to the same period last year[4] - Net profit attributable to shareholders was CNY 24,030,052.49, a decrease of 50.58% year-on-year[4] - The total profit for the period was CNY 26,447,650.83, down 52.67% from the previous year[4] - Basic earnings per share were CNY 0.09, reflecting a decline of 65.38% compared to the same quarter last year[5] - Total operating revenue for the first three quarters of 2025 reached ¥1,027,961,503.32, an increase of 8.2% compared to ¥950,469,212.33 in the same period of 2024[18] - Net profit for the first three quarters of 2025 was ¥54,656,121.04, a decrease of 53.2% from ¥116,875,611.59 in the same period of 2024[19] - Earnings per share for the first three quarters of 2025 were ¥0.25, down from ¥0.74 in 2024, indicating a decline of 66.2%[20] - Other comprehensive income after tax was negative at -¥1,518,295.85 in 2025, with no comparable figure in 2024[19] Assets and Liabilities - Total assets at the end of the period were CNY 1,597,783,283.59, a decrease of 1.94% from the end of the previous year[5] - As of September 30, 2025, the total current assets amounted to RMB 999,600,878.09, a decrease from RMB 1,144,395,097.80 as of December 31, 2024, representing a decline of approximately 12.7%[14] - The total non-current assets reached RMB 598,182,405.50, compared to RMB 484,949,170.32, marking an increase of around 23.4%[15] - Total liabilities increased to ¥348,098,172.46 in 2025 from ¥342,171,514.71 in 2024, showing a slight increase of 1.7%[18] - Total equity attributable to shareholders decreased to ¥1,249,685,111.13 in 2025 from ¥1,287,172,753.41 in 2024, a decline of 2.9%[18] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 26,445,525.00, down 54.99%[5] - Cash inflow from operating activities for the first three quarters of 2025 reached approximately ¥1,014.56 million, an increase of 10.1% compared to ¥921.21 million in the same period of 2024[22] - Net cash flow from operating activities decreased to ¥26.45 million in 2025 from ¥58.75 million in 2024, reflecting a decline of 55.1%[22] - Cash inflow from investment activities totaled approximately ¥798.21 million in 2025, down by 45.8% from ¥1,473.99 million in 2024[23] - The net increase in cash and cash equivalents for the first three quarters of 2025 was ¥22.07 million, a decrease of 56.5% from ¥50.75 million in 2024[23] Shareholder Information - The company had a total of 36,655 common shareholders at the end of the reporting period[11] - The company has no significant changes in the top 10 shareholders or their shareholding status due to the absence of transfer or lending activities[12] Operational Insights - The decline in profits was primarily due to a reduction in export tax rebate rates from 13% to 9% and a decrease in product sales prices[9] - There are no significant reminders or additional important information regarding the company's operational status during the reporting period[13] - The company's fixed assets increased to RMB 412,461,198.94 from RMB 342,619,198.32, showing a growth of approximately 20.3%[15] - The company reported a cash inflow from sales of goods and services of approximately ¥922.81 million in 2025, an increase of 11.3% from ¥829.14 million in 2024[22] - The company's cash flow from operating activities reflects a strong operational performance despite the decline in net cash flow, indicating potential areas for improvement in cost management[22]

Financial Performance - The company's operating revenue for Q3 2025 was ¥146,230,745.20, representing a year-on-year increase of 294.78%[4] - The total profit for the period was a loss of ¥6,632,513.87, which is a decrease of 27.65% compared to the same period last year[4] - The net profit attributable to shareholders was a loss of ¥6,678,257.18, reflecting a decrease of 27.67% year-on-year[4] - Total operating revenue for the first three quarters of 2025 reached ¥228,893,635.18, a significant increase of 120.1% compared to ¥104,000,084.69 in the same period of 2024[18] - Total operating costs increased to ¥252,404,699.23, up 92.2% from ¥131,355,431.39 year-over-year[18] - The net loss for the first three quarters of 2025 was ¥27,122,686.72, an improvement from a net loss of ¥29,343,195.58 in the same period of 2024, reflecting a reduction of 7.6%[19] - Basic and diluted earnings per share for the first three quarters of 2025 were both -¥0.0551, compared to -¥0.0596 in the same period of 2024[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥251,758,416.13, down 1.60% from the end of the previous year[5] - Current assets totaled ¥115,942,150.10, compared to ¥110,791,356.25 at the end of 2024, indicating an increase of approximately 4.9%[14] - The company's total equity decreased to ¥104,190,351.44 from ¥131,313,038.16, a decline of approximately 20.6%[16] - Total liabilities increased to ¥147,568,064.69 from ¥124,531,108.58, marking an increase of about 18.5%[16] Cash Flow - The cash flow from operating activities showed a net outflow of ¥8,859,829.15, which is a 38.43% increase in outflow compared to the previous year[4] - Cash flow from operating activities showed a net outflow of ¥8,859,829.15, an improvement from a net outflow of ¥14,389,487.56 in the first three quarters of 2024[22] - Cash and cash equivalents at the end of the period were ¥14,651,726.51, down from ¥37,361,410.50 at the end of the same period in 2024[23] - The company experienced a net cash decrease of ¥21,512,737.29 during the first three quarters of 2025, compared to a decrease of ¥2,956,495.54 in the same period of 2024[23] Shareholder Information - The top shareholder, Zhang Xueyang, holds 60,000,000 shares, representing 12.19% of total shares[12] - The company has no significant changes in the top ten shareholders compared to the previous period[12] - The company is not currently involved in any share lending activities[12] Accounting and Standards - The company has not adopted new accounting standards or interpretations that would affect the financial statements for the year[24] Other Financial Indicators - The basic earnings per share for the period was -¥0.014, a decrease of 26.32% year-on-year[4] - The weighted average return on equity was -5.22%, an increase of 0.25 percentage points compared to the previous year[4] - The company reported a significant increase in accounts receivable by 340.83%, primarily due to growth in sales revenue[8] - The company's cash and cash equivalents decreased to ¥17,885,357.52 from ¥39,713,282.15, representing a decline of about 55.1%[14] - Accounts receivable rose significantly to ¥42,344,227.62 from ¥9,605,523.43, reflecting an increase of approximately 341.5%[14] - The company generated additional server revenue of ¥158,442,500, which may impact financial delisting indicators if revenue falls below ¥300 million[5]

Financial Performance - The company's operating revenue for the third quarter reached ¥193,650,864.75, an increase of 17.96% compared to the same period last year[4] - The total profit for the quarter was ¥55,064,156.50, reflecting a significant increase of 47.09% year-over-year[4] - Net profit attributable to shareholders was ¥52,872,996.26, up 46.16% from the previous year[4] - The net profit after deducting non-recurring gains and losses for the quarter was ¥12,745,557.38, a 34.61% increase year-over-year[4] - The weighted average return on equity for the quarter was 3.17%, an increase of 0.90 percentage points compared to the previous year[5] - The basic earnings per share for the quarter was ¥0.1090, an increase of 46.12% year-over-year[5] - The net profit attributable to shareholders for the year-to-date was ¥57,268,919.48, reflecting a 31.94% increase compared to the same period last year[4] - Operating profit for the first three quarters of 2025 was ¥60,559,181.17, up from ¥46,214,195.04 in 2024, indicating a growth of approximately 31.1%[19] - Net profit for the first three quarters of 2025 was ¥57,268,919.48, compared to ¥43,406,173.70 in 2024, reflecting an increase of around 31.8%[20] - Basic earnings per share for the first three quarters of 2025 were ¥0.1181, compared to ¥0.0895 in 2024, representing an increase of approximately 32.2%[20] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥2,321,627,810.10, representing a 5.54% increase from the end of the previous year[5] - The company’s total assets amounted to ¥2,321,627,810.10, compared to ¥2,199,696,845.37 in the previous year, indicating a growth of approximately 5.5%[17] - Total liabilities increased to ¥628,627,999.43 from ¥561,371,847.56, reflecting an increase of about 11.9%[17] - The total equity attributable to shareholders reached ¥1,692,999,810.67, compared to ¥1,638,324,997.81 in the previous year, marking an increase of approximately 3.3%[17] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥46,625,262.18, showing a decrease of 31.67% compared to the previous year[4] - In the first three quarters of 2025, the net cash flow from operating activities was ¥46,625,262.18, a decrease of 31.6% compared to ¥68,237,644.10 in the same period of 2024[22] - Total cash inflow from operating activities was ¥513,977,166.69, slightly down from ¥534,202,115.53 in the previous year[22] - Cash outflow for purchasing goods and services was ¥385,601,049.03, compared to ¥393,077,977.27 in the previous year, indicating a decrease of 1.2%[22] - The net cash flow from investing activities was -¥145,912,742.11, a significant decline from ¥30,344,590.41 in the same period of 2024[23] - Cash inflow from financing activities increased to ¥225,254,605.78, up from ¥59,000,000.00 in the previous year[23] - The net cash flow from financing activities was ¥116,557,646.79, reversing from a negative cash flow of -¥120,690,773.87 in the same period of 2024[23] - The ending balance of cash and cash equivalents was ¥58,827,108.38, compared to ¥25,011,124.23 at the end of the same period last year[23] - The company received ¥140,142,438.30 in cash from borrowings, significantly higher than ¥30,000,000.00 in the previous year[23] - The company reported a cash inflow of ¥4,480,794.00 from the disposal of fixed assets, an increase from ¥532,800.00 in the previous year[22] Shareholder Information - Total number of common shareholders at the end of the reporting period is 19,496[12] - The largest shareholder, Hainan Shengtai Chuangfa Industrial Co., Ltd., holds 144,994,030 shares, accounting for 29.90% of total shares[12] - The second largest shareholder, Shitong Investment (Shandong) Co., Ltd., holds 85,404,925 shares, representing 17.61%[12] - The company has no reported related party relationships among the top three shareholders[13] Investment and Costs - The company reported a significant increase in investment income from joint ventures, contributing to the overall profit growth[9] - Total operating costs increased to ¥444,022,286.70 from ¥428,404,934.37 year-over-year, marking an increase of about 3.9%[19] - The company reported investment income of ¥50,007,503.45 for the first three quarters of 2025, significantly higher than ¥19,783,371.82 in the previous year, showing an increase of approximately 152.5%[19] - The financial expenses for the first three quarters of 2025 were ¥13,951,864.35, up from ¥7,684,164.70 in 2024, representing an increase of about 81.5%[19] Accounting Standards - The company did not apply new accounting standards for the year 2025[24]

贵州航宇科技发展股份有限公司 2025 年第三季度报告 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 贵州航宇科技发展股份有限公司 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。 证券代码：688239 证券简称：航宇科技 债券代码：118050 债券简称：航宇转债 （一） 主要会计数据和财务指标 单位：元 币种：人民币 | | | 本报告期 | | 年初至报告期 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 比上年同 | 年初至报告期末 | 末比上年同期 | | | | 期增减变 | | 增减变动幅度 | | | | 动幅度(%) | | (%) | | 营业收入 | 603,3 ...

Financial Performance - The company's operating revenue for the third quarter was ¥685,610,115.11, a decrease of 4.55% compared to the same period last year[4]. - The total profit for the quarter was ¥62,783,961.33, reflecting a decline of 2.15% year-over-year[4]. - The net profit attributable to shareholders was ¥53,345,077.94, down by 0.99% compared to the previous year[4]. - The net profit after deducting non-recurring gains and losses was ¥46,896,642.45, a decrease of 9.85% year-over-year[4]. - Total operating revenue for the first three quarters of 2025 reached ¥2,038,897,070.32, an increase of 6.3% compared to ¥1,918,275,441.31 in the same period of 2024[20]. - Net profit for the first three quarters of 2025 was ¥152,116,650.74, compared to ¥117,844,354.08 in 2024, representing a growth of 29.0%[22]. Cash Flow - The cash flow from operating activities for the year-to-date was ¥153,995,632.25, showing a decline of 37.55%[5]. - The net cash flow from operating activities for the first three quarters of 2025 was ¥153,995,632.25, a decrease from ¥246,602,597.69 in the same period of 2024[24]. - Cash outflow from investment activities totaled $143.21 million, with a net cash flow from investment activities of -$143.21 million[25]. - Cash inflow from financing activities amounted to $354.05 million, resulting in a net cash flow from financing activities of $58.03 million[25]. - The net increase in cash and cash equivalents was $68.82 million, bringing the ending balance to $389.58 million[25]. - The cash outflow for debt repayment was $266.95 million, while cash paid for dividends and interest was $29.07 million[25]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,699,420,738.53, representing a growth of 6.53% from the end of the previous year[5]. - The company's total current assets as of September 30, 2025, amount to ¥2,207,687,199.27, an increase from ¥1,987,053,518.58 as of December 31, 2024, reflecting a growth of approximately 11.06%[16]. - The total assets of the company are ¥3,699,420,738.53, compared to ¥3,472,618,236.40 at the end of 2024, indicating an increase of about 6.52%[17]. - The total liabilities of the company as of September 30, 2025, are ¥673,822,488.64, compared to ¥564,481,197.55 at the end of 2024, reflecting an increase of approximately 19.43%[17]. - The company's total liabilities increased to ¥948,407,140.49 in 2025 from ¥822,914,654.33 in 2024, marking a rise of 15.3%[18]. Shareholder Information - The equity attributable to shareholders increased to ¥2,685,645,953.42, up by 4.37% year-over-year[5]. - The total equity attributable to shareholders of the parent company rose to ¥2,685,645,953.42 in 2025, up from ¥2,573,211,898.28 in 2024, indicating an increase of 4.4%[18]. - The total number of common shareholders at the end of the reporting period is 14,611[12]. - The largest shareholder, Mudanjiang Hengfeng Paper Group Co., Ltd., holds 89,423,083 shares, representing 29.93% of total shares[13]. - The company has no significant changes in the shareholding structure among the top shareholders compared to the previous period[13]. Research and Development - Research and development expenses for the first three quarters of 2025 were ¥69,070,600.57, compared to ¥60,715,510.26 in 2024, reflecting a year-over-year increase of 13.5%[21]. Non-Recurring Gains - Non-recurring gains included government subsidies amounting to ¥8,015,265.02 for the quarter and ¥19,056,036.35 year-to-date[7]. Earnings Per Share - The basic and diluted earnings per share for the year-to-date were both ¥0.18, an increase of 35.14% compared to the previous year[5]. - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.50, up from ¥0.37 in 2024, representing a growth of 35.1%[22]. Accounting Standards - The company plans to implement new accounting standards starting in 2025, which may affect the financial statements[26]. Operational Reminders - There are no applicable reminders for investors regarding the company's operational situation during the reporting period[14].

Financial Performance - The company's operating revenue for the third quarter was ¥655,004,547.43, a decrease of 33.03% compared to the same period last year[4]. - The total profit for the year-to-date period was ¥230,022,487.58, which represents a decrease of 28.41% year-on-year[4]. - The net profit attributable to shareholders for the third quarter was -¥91,367,740.59, with a year-to-date net profit of ¥210,129,454.06, reflecting significant changes due to the exclusion of BTAH from the consolidation scope[4][10]. - The basic and diluted earnings per share for the third quarter were both -¥0.0961, with year-to-date earnings per share of ¥0.2211[5]. - Total revenue for the first three quarters of 2025 was CNY 2,367,473,033.78, a decrease of 28.4% compared to CNY 3,306,815,840.00 in the same period of 2024[25]. - Net profit for the first three quarters of 2025 was CNY 211,013,038.65, compared to a net loss of CNY 186,422,596.16 in the same period of 2024[26]. - Operating profit for the first three quarters of 2025 was CNY 230,032,065.64, a significant recovery from a loss of CNY 182,313,676.00 in 2024[26]. - The total comprehensive income attributable to the parent company's owners for the reporting period was ¥215,798,980.09, an increase from ¥69,747,190.35 in the previous year[27]. - Basic and diluted earnings per share for the reporting period were both ¥0.2211, a significant recovery from a loss of ¥0.1995 in the same period of the previous year[27]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period was ¥14,370,179.91, down 69.89% compared to the previous year[5]. - The net cash flow from operating activities for the first three quarters of 2025 was ¥14,370,179.91, a decrease of 69.96% compared to ¥47,723,830.16 in the same period of 2024[30]. - The cash inflow from operating activities totaled ¥1,894,037,205.53, while cash outflow was ¥1,879,667,025.62, resulting in a net cash inflow[30]. - The total cash and cash equivalents at the end of the reporting period was ¥489,657,832.74, down from ¥766,100,561.94 at the end of the previous year[32]. - The company reported a significant increase in cash and cash equivalents, rising from CNY 498,929,130.02 in September 2025 to CNY 922,384,935.19 by December 2024[21]. - Current assets totaled CNY 2,805,238,837.06 as of September 30, 2025, compared to CNY 3,516,715,972.51 at the end of 2024[22]. - The company's total assets increased from CNY 6,400,196,502.74 as of September 30, 2025, to CNY 7,410,225,779.82 by December 31, 2024[22]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 36,686[12]. - The top 10 shareholders hold a total of 219,038,871 shares, representing 23.04% of the total shares[12]. - Beijing Automotive Group Co., Ltd. holds 206,390,009 shares, accounting for 21.71% of the total shares[13]. Legal Matters - The company has initiated a lawsuit against former executive Li Zunhu for 6.66 million yuan in damages due to his breach of duty, with the case currently in enforcement proceedings[17]. - The company’s subsidiary, Taian Qicheng, is involved in a lawsuit against Zhenjiang Zhenfa for 6.7 million yuan worth of goods and molds, with ongoing litigation and appeals[18]. - Bohai Lightweight has filed a lawsuit against Huaren Yuntong for 19.49 million yuan in unpaid debts, but the case was dismissed due to an arbitration agreement, and the company is currently appealing[20]. - The company has confirmed a debt claim of 8.37 million yuan against Huaren Yuntong, which is undergoing bankruptcy reorganization[20]. - An employee of Bohai Piston misappropriated 2.96 million yuan in customer payments, resulting in a criminal conviction and ongoing recovery efforts[20]. Investments and Acquisitions - The company plans to acquire 51% stakes in several subsidiaries from its controlling shareholder, with related restructuring documents accepted by the Shanghai Stock Exchange[16]. - The company completed the pledge of 90,235,253 shares to its controlling shareholder for a loan amount of 453.16 million yuan[16]. - The company provided a guarantee of 100 million yuan for Shandong Huaxing Machinery Co., Ltd., with a total compensation of 108,402,689.88 yuan due to overdue loans[15]. Research and Development - Research and development expenses for the first three quarters of 2025 were CNY 67,473,777.37, slightly down from CNY 72,654,527.87 in 2024[26].

Financial Performance - The company's operating revenue for the third quarter was approximately CNY 7.97 billion, a decrease of 8.27% compared to the same period last year[6]. - Total profit for the quarter reached approximately CNY 1.80 billion, an increase of 21.40% year-over-year[6]. - Net profit attributable to shareholders was approximately CNY 1.24 billion, reflecting a year-over-year increase of 13.64%[6]. - Basic earnings per share for the quarter was CNY 0.250, up 12.61% from the same period last year[7]. - Total operating revenue for the first three quarters of 2025 was CNY 20,931,913,553.73, a decrease of 6.45% compared to CNY 22,372,458,358.12 in the same period of 2024[21]. - Net profit for the first three quarters of 2025 reached CNY 4,146,368,071.62, an increase of 5.37% from CNY 3,934,855,090.57 in 2024[22]. - Profit before tax for the first three quarters of 2025 was CNY 4,857,993,934.95, compared to CNY 4,540,934,302.69 in 2024, reflecting a growth of 6.98%[22]. - The company reported a basic earnings per share of CNY 0.667 for the first three quarters of 2025, slightly down from CNY 0.669 in 2024[22]. - Net profit for the first three quarters of 2025 was CNY 1,614,508,171.05, down 8.81% from CNY 1,770,553,576.88 in the first three quarters of 2024[31]. Cash Flow and Liquidity - The cash flow generated from operating activities for the year-to-date period was approximately CNY 7.32 billion, an increase of 19.39% compared to the previous year[6]. - The company’s cash flow from operating activities for the first three quarters of 2025 showed a positive trend, reflecting improved liquidity[23]. - Operating cash flow for the first three quarters of 2025 was CNY 7,319,428,529.57, an increase of 19.5% compared to CNY 6,130,566,496.14 in the same period of 2024[24]. - Total cash inflow from operating activities decreased to CNY 24,513,315,365.03 from CNY 24,822,015,062.73, reflecting a decline of 1.2% year-over-year[24]. - Cash outflow from operating activities decreased to CNY 17,193,886,835.46 from CNY 18,691,448,566.59, a reduction of 8.0% year-over-year[24]. - The company reported a net cash outflow from operating activities of CNY -291,147,956.78 for the first three quarters of 2025, compared to CNY -119,447,715.86 in the same period of 2024[34]. - Cash and cash equivalents at the end of the period were CNY 2,037,015,164.46, compared to CNY 1,953,661,356.65 at the end of the same period in 2024[35]. Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 109.16 billion, representing a 7.38% increase from the end of the previous year[7]. - Total liabilities as of the end of the reporting period were CNY 59,203,900,058.70, an increase from CNY 55,741,116,308.58 in the previous year[21]. - Total equity increased to CNY 49,959,725,317.32 from CNY 45,924,615,603.03, indicating a growth of 6.66%[21]. - The company’s total equity reached CNY 32,803,668,924.43, up from CNY 31,179,559,539.99 in the previous year[29]. - Current liabilities increased to CNY 2,251,378,611.11 from CNY 2,151,518,527.78, reflecting a rise of 4.6% year-over-year[28]. Investments and R&D - Research and development expenses increased to CNY 9,750,850.63, up from CNY 7,621,467.09 in the previous year, indicating a focus on innovation[21]. - The company plans to expand its market presence and invest in new technologies to drive future growth[23]. - Investment activities generated a net cash inflow of CNY 161,378,528.13 in the first three quarters of 2025, a significant improvement from CNY -1,014,610,313.12 in the previous year[35]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 88,968[14]. - The company has no significant changes in the top 10 shareholders or the top 10 unrestricted shareholders due to securities lending activities[16].