仕佳光子(688313) - 2025 Q3 - 季度财报

Report Overview Important Notice The company's board and management guarantee the quarterly report's truthfulness, accuracy, and completeness, assuming legal responsibility - The company's board of directors and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, assuming individual and joint legal responsibility[2] - The company's principal officer, head of accounting, and accounting department head guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report[3] Audit Status This quarter's financial statements are unaudited - The third quarter financial statements are unaudited[3] Key Financial Data and Indicators Key Accounting Data and Financial Indicators For Q3 2025 and year-to-date, the company reported substantial growth in revenue and net profit, a negative operating cash flow, and significant increases in total assets and equity from the prior year-end Key Accounting Data and Financial Indicators for Q3 2025 and Year-to-Date | Item | Current Period (yuan) | YoY Change in Current Period (%) | Year-to-Date (yuan) | YoY Change Year-to-Date (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 567,812,177.70 | 102.50 | 1,560,437,436.14 | 113.96 | | Total Profit | 85,070,852.37 | 229.33 | 310,844,209.62 | 651.20 | | Net Profit Attributable to Shareholders of Listed Company | 83,070,317.79 | 242.52 | 299,717,803.45 | 727.74 | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-recurring Gains/Losses | 82,785,704.18 | 294.95 | 296,555,560.41 | 1,210.13 | | Net Cash Flow from Operating Activities | -56,726,809.33 | -348.09 | -45,567,903.62 | -1,346.67 | | Basic Earnings Per Share (yuan/share) | 0.1838 | 242.27 | 0.6631 | 727.84 | | Diluted Earnings Per Share (yuan/share) | 0.1838 | 242.27 | 0.6631 | 727.84 | | Weighted Average Return on Net Assets (%) | 5.78 | 增加 3.68 个百分点 | 22.34 | 增加 19.19 个百分点 | | Total R&D Investment | 36,329,091.63 | 38.56 | 97,746,922.44 | 22.05 | | R&D Investment as % of Operating Revenue | 6.4 | 减少 2.95 个百分点 | 6.26 | 减少 4.72 个百分点 | Balance Sheet as of Q3 2025 | Item | As of Current Period End (yuan) | As of Prior Year End (yuan) | Change from Prior Year End (%) | | :--- | :--- | :--- | :--- | | Total Assets | 2,548,425,253.78 | 1,782,151,776.79 | 43.00 | | Shareholders' Equity Attributable to Listed Company | 1,476,115,788.68 | 1,198,593,410.18 | 23.15 | Non-recurring Gains and Losses During the reporting period, the company's non-recurring gains and losses totaled 0.28 million yuan, and 3.16 million yuan year-to-date, primarily from government subsidies, entrusted investment gains/losses, and non-current asset disposal gains/losses Non-recurring Gains and Losses for Q3 2025 and Year-to-Date | Non-recurring Item | Current Period Amount (yuan) | Year-to-Date Amount (yuan) | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -454,456.16 | -579,236.74 | | Government Subsidies Included in Current Profit/Loss | 891,088.50 | 4,447,190.36 | | Gains/Losses from Entrusted Investments or Asset Management | 995.00 | 487,512.92 | | Other Non-operating Income and Expenses | -98,741.17 | -795,137.62 | | Income Tax Impact | -54,272.56 | -359,018.93 | | Total | 284,613.61 | 3,162,243.04 | Analysis of Financial Indicator Changes Significant revenue and profit growth stemmed from the AI-driven data communication market, enhanced product competitiveness, increased orders, and improved operational efficiency; negative operating cash flow was due to increased inventory for orders and uncollected sales, while total asset growth reflected expanded operations - Operating revenue (year-to-date up 113.96%, current period up 102.50%) grew primarily due to the AI-driven rapid expansion of the data communication market, enhanced product competitiveness, increased customer recognition, and varying degrees of order growth for optical chips and devices, indoor optical cables, and cable polymer materials compared to the prior year[9][10] - Total profit, net profit attributable to shareholders, non-recurring net profit, and basic/diluted EPS (year-to-date up 651.20%, 727.74%, 1,210.13%, and 727.84% respectively; current period up 229.33%, 242.52%, 294.95%, and 242.27% respectively) significantly increased due to revenue growth, continuous improvement in operational management, cost reduction and efficiency enhancement efforts, and improved product yield, thereby strengthening product competitiveness and profitability[10] - Net cash flow from operating activities (year-to-date down 1,346.67%, current period down 384.09%) was negative, primarily due to increased inventory to meet product order demands and rapid operating revenue growth with some sales receivables not yet due[10] - Total assets (as of current period end up 43.00%) increased mainly due to expanded production and operations, leading to increases in inventory, accounts receivable, and fixed assets[10] Shareholder Information Total Common Shareholders and Top Ten Shareholders' Holdings As of the reporting period end, the company had 44,323 common shareholders; Henan Shijia Information Technology Co., Ltd. is the largest shareholder among the top ten with 22.37% equity, and Chairman/General Manager Ge Haiquan holds a combined 29.03% directly and indirectly, forming a concerted action relationship; the company's share repurchase account holds 1.49% of total share capital - The total number of common shareholders at the end of the reporting period was 44,323[12] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Type | Number of Shares Held (shares) | Holding Percentage (%) | | :--- | :--- | :--- | :--- | | Henan Shijia Information Technology Co., Ltd. | Domestic Non-state Legal Person | 102,629,667 | 22.37 | | Ge Haiquan | Domestic Natural Person | 30,541,172 | 6.66 | | Hebi Investment Group Co., Ltd. | State-owned Legal Person | 30,000,060 | 6.54 | | Ping An Bank Co., Ltd. - Yongying Technology Smart Selection Mixed Initiated Securities Investment Fund | Other | 7,350,349 | 1.60 | | Jiangsu Bank Co., Ltd. - AVIC Opportunity Leading Mixed Initiated Securities Investment Fund | Other | 7,203,265 | 1.57 | | Wang Wuyou | Domestic Natural Person | 5,586,386 | 1.22 | | Hong Kong Securities Clearing Company Limited | Other | 5,290,096 | 1.15 | | Agricultural Bank of China Co., Ltd. - E Fund Ruixiang Flexible Allocation Mixed Securities Investment Fund | Other | 4,814,151 | 1.05 | | China Construction Bank Co., Ltd. - E Fund Yuanjian Growth Mixed Securities Investment Fund | Other | 4,025,824 | 0.88 | | Bank of Communications Co., Ltd. - E Fund Xianfeng Growth Mixed Securities Investment Fund | Other | 2,856,445 | 0.62 | - Company Chairman and General Manager Ge Haiquan directly holds 6.66% of the company's shares and indirectly holds 22.37% through Henan Shijia Information Technology Co., Ltd., totaling 29.03% and forming a concerted action relationship[14] - As of September 30, 2025, the company's share repurchase special securities account held 6,816,000 shares, accounting for 1.49% of the company's total share capital[14] Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2025, total assets reached 2.55 billion yuan, a 43.00% increase from year-end; both current and non-current assets grew significantly, with substantial increases in monetary funds, accounts receivable, inventory, and long-term equity investments; short-term borrowings surged, nearly doubling total current liabilities Key Data from Consolidated Balance Sheet as of September 30, 2025 | Item | September 30, 2025 (yuan) | December 31, 2024 (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Assets | | | | | Total Current Assets | 1,701,328,480.91 | 1,152,143,609.17 | 47.66 | | Total Non-current Assets | 847,096,772.87 | 630,008,167.62 | 34.46 | | Total Assets | 2,548,425,253.78 | 1,782,151,776.79 | 43.00 | | Liabilities | | | | | Total Current Liabilities | 968,879,826.63 | 497,524,554.63 | 94.74 | | Total Non-current Liabilities | 103,429,638.47 | 86,033,811.98 | 20.22 | | Total Liabilities | 1,072,309,465.10 | 583,558,366.61 | 83.76 | | Shareholders' Equity | | | | | Total Shareholders' Equity Attributable to Parent Company | 1,476,115,788.68 | 1,198,593,410.18 | 23.15 | | Total Shareholders' Equity | 1,476,115,788.68 | 1,198,593,410.18 | 23.15 | - Monetary funds increased from 262 million yuan to 425 million yuan, accounts receivable from 402 million yuan to 511 million yuan, inventory from 324 million yuan to 593 million yuan, and long-term equity investments from 0.91 million yuan to 149 million yuan[17] - Short-term borrowings significantly increased from 10.26 million yuan to 404 million yuan[18] Consolidated Income Statement In the first three quarters of 2025, total operating revenue reached 1.56 billion yuan, a 113.96% year-over-year increase; operating profit and net profit both grew substantially, with net profit attributable to parent company shareholders increasing 727.74% year-over-year, and basic EPS significantly improving Key Data from Consolidated Income Statement for the First Three Quarters of 2025 | Item | First Three Quarters of 2025 (yuan) | First Three Quarters of 2024 (yuan) | YoY Growth (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,560,437,436.14 | 729,306,738.13 | 113.96 | | Total Operating Costs | 1,233,697,085.77 | 695,945,802.76 | 77.29 | | Operating Profit | 311,639,347.24 | 43,178,431.75 | 621.78 | | Total Profit | 310,844,209.62 | 41,379,443.98 | 651.20 | | Net Profit | 299,717,803.45 | 36,209,033.27 | 727.74 | | Net Profit Attributable to Parent Company Shareholders | 299,717,803.45 | 36,209,033.27 | 727.74 | | Basic Earnings Per Share (yuan/share) | 0.6631 | 0.0801 | 727.84 | | Diluted Earnings Per Share (yuan/share) | 0.6631 | 0.0801 | 727.84 | - R&D expenses increased 22.05% year-over-year to 97.75 million yuan, selling expenses increased 49.73% to 31.12 million yuan, and administrative expenses increased 44.77% to 75.44 million yuan[21] - Other income (government subsidies) decreased from 16.03 million yuan to 8.04 million yuan, and investment income shifted from 5.03 million yuan to -0.07 million yuan[21] Consolidated Cash Flow Statement In the first three quarters of 2025, net cash flow from operating activities was -45.57 million yuan, turning negative from positive year-over-year, mainly due to increased inventory and sales credit terms; cash outflow from investing activities significantly increased, resulting in a net outflow of 215 million yuan; cash inflow from financing activities substantially rose, primarily from new borrowings Key Data from Consolidated Cash Flow Statement for the First Three Quarters of 2025 | Item | First Three Quarters of 2025 (yuan) | First Three Quarters of 2024 (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -45,567,903.62 | 3,655,172.02 | -1346.67 | | Net Cash Flow from Investing Activities | -214,910,951.58 | 70,718,963.00 | -403.86 | | Net Cash Flow from Financing Activities | 410,444,643.43 | -14,053,297.09 | 3019.00 | | Net Increase in Cash and Cash Equivalents | 149,494,327.53 | 58,647,156.33 | 154.90 | | Cash and Cash Equivalents at Period End | 407,561,093.96 | 319,700,590.86 | 27.48 | - Subtotal cash inflow from operating activities increased 165.97% year-over-year to 1.40 billion yuan, mainly due to a significant increase in cash received from sales of goods and rendering of services[24] - Cash paid for goods and services increased 254.99% year-over-year to 1.09 billion yuan, and cash paid to and on behalf of employees increased 62.60% to 255 million yuan[25] - Cash paid for investments increased from 135 million yuan to 317 million yuan, and cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets increased from 62.12 million yuan to 128 million yuan[25] - Cash received from borrowings significantly increased from 0.62 million yuan to 448 million yuan[26] Other Matters Other Reminders No other significant operating information requiring special investor attention during the reporting period - The company stated there is no other significant operating information during the reporting period that requires investor attention[15] Implementation of New Accounting Standards The company first implemented new accounting standards or interpretations starting in 2025, but this did not involve adjusting the financial statements at the beginning of the first year of implementation - The company first implemented new accounting standards or interpretations starting in 2025, but this did not involve adjusting the financial statements at the beginning of the first year of implementation[27]