电工合金(300697) - 2025 Q3 - 季度财报

Report Overview Important Notice This unaudited quarterly report's information disclosure is guaranteed by the board and senior management to be true, accurate, and complete, with financial information affirmed by key accounting personnel - This report is unaudited[2] - The Board of Directors and senior management guarantee the report's truthfulness, accuracy, and completeness, assuming legal responsibility[2] - The company's head, chief accountant, and head of accounting department declare the financial information to be true, accurate, and complete[2] I. Major Financial Data I. Major Accounting Data and Financial Indicators The company achieved significant financial growth in Q3 2025 and year-to-date, with operating revenue up 43.08% this quarter and net profit attributable to parent up 78.44%, though net cash flow from operating activities decreased by 23.27% year-to-date Major Accounting Data and Financial Indicators | Indicator | Current Reporting Period (million CNY) | YoY Change in Current Reporting Period | Year-to-Date (million CNY) | YoY Change Year-to-Date | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 862.65 | 43.08% | 2,293.44 | 25.11% | | Net Profit Attributable to Shareholders of Listed Company | 45.10 | 78.44% | 127.44 | 38.45% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | 44.71 | 111.04% | 127.32 | 45.86% | | Net Cash Flow from Operating Activities | -- | -- | 53.29 | -23.27% | | Basic Earnings Per Share (CNY/share) | 0.104 | 36.84% | 0.295 | 38.50% | | Diluted Earnings Per Share (CNY/share) | 0.104 | 36.84% | 0.295 | 38.50% | | Weighted Average Return on Net Assets | 3.78% | 1.46% | 10.58% | 2.04% | | Period-End Indicator | End of Current Reporting Period (billion CNY) | End of Prior Year (billion CNY) | Change from Prior Year-End | | | Total Assets | 2.21 | 1.84 | 20.41% | | | Total Equity Attributable to Shareholders of Listed Company | 1.23 | 1.12 | 9.19% | | II. Non-Recurring Gains and Losses Items and Amounts The company disclosed non-recurring gains and losses for the current period and year-to-date, primarily government grants, fair value changes of financial assets/liabilities, and other non-operating items, which collectively had a positive impact on net profit Non-Recurring Gains and Losses Items and Amounts | Item | Current Reporting Period Amount (thousand CNY) | Year-to-Date Amount (thousand CNY) | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | 0.00 | -7.43 | | Government Grants Recognized in Current Period P&L | 308.64 | 388.64 | | Gains/Losses from Fair Value Changes and Disposal of Financial Assets and Liabilities Held by Non-Financial Enterprises | -16.69 | -33.42 | | Other Non-Operating Income and Expenses Excluding the Above | 170.28 | -211.45 | | Less: Income Tax Impact | 69.34 | 8.82 | | Impact on Minority Interests (After Tax) | -3.10 | 15.85 | | Total | 396.00 | 111.66 | III. Changes and Reasons for Major Accounting Data and Financial Indicators During the reporting period, significant changes occurred across the balance sheet, income statement, and cash flow statement, driven by increased bank deposits, commercial acceptance bills, raw material prepayments, construction in progress, bank acceptance bills, income tax payable, raw material price increases, and futures gains, alongside higher selling and R&D expenses, increased product sales, and substantial changes in investing and financing cash flows Major Balance Sheet Item Changes and Reasons | Balance Sheet Item | Period-End Balance (million CNY) | Period-Start Balance (million CNY) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 339.80 | 241.08 | 40.95% | Primarily due to increased bank deposits | | Notes Receivable | 103.65 | 55.57 | 86.52% | Primarily due to increased commercial acceptance bills received | | Prepayments | 35.16 | 13.85 | 153.89% | Primarily due to increased prepayments for raw material purchases | | Construction in Progress | 14.61 | 7.79 | 87.52% | Primarily due to increased equipment and engineering procurement | | Notes Payable | 294.17 | 30.00 | 880.57% | Primarily due to increased bank acceptance bills issued | | Provisions | 26.91 | 14.54 | 85.06% | Primarily due to increased raw material prices | | Other Comprehensive Income | 48.14 | 12.48 | 285.60% | Primarily due to increased futures gains | Major Income Statement Item Changes and Reasons | Income Statement Item | Current Period Amount (million CNY) | Prior Year Period Amount (million CNY) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Selling Expenses | 18.17 | 12.19 | 49.04% | Primarily due to increased testing fees | | R&D Expenses | 41.50 | 30.09 | 37.95% | Primarily due to increased R&D investment | | Credit Impairment Losses | -10.71 | -1.19 | -801.38% | Primarily due to increased accounts receivable | | Operating Profit | 146.19 | 107.64 | 35.82% | Primarily due to increased product sales | | Net Profit | 128.63 | 92.69 | 38.77% | Primarily due to increased product sales | Major Cash Flow Statement Item Changes and Reasons | Cash Flow Statement Item | Current Period Amount (million CNY) | Prior Year Period Amount (million CNY) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Net Cash Flow from Investing Activities | -18.31 | -5.87 | -211.94% | Primarily due to increased cash paid for fixed asset purchases | | Net Cash Flow from Financing Activities | 49.71 | -58.46 | 185.03% | Primarily due to increased bank borrowings | | Net Increase in Cash and Cash Equivalents | 85.08 | 5.65 | 1406.21% | Primarily due to increased cash flow from financing activities | II. Shareholder Information I. Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings As of the reporting period end, the company had 40,484 common shareholders, with Chen Lijiao and Xiamen Quanxin Enterprise Management Co., Ltd. as major shareholders holding 31.25% and 29.99% respectively, noting some restricted shares and a change in concerted action relationships - The total number of common shareholders at the end of the reporting period was 40,484 accounts[10] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Type | Shareholding Percentage | Number of Shares Held (million shares) | Number of Restricted Shares Held (million shares) | | :--- | :--- | :--- | :--- | :--- | | Chen Lijiao | Domestic Natural Person | 31.25% | 135.20 | 101.40 | | Xiamen Quanxin Enterprise Management Co., Ltd. | State-Owned Legal Entity | 29.99% | 129.75 | 0 | | Jiangyin Qiuwei Management Consulting Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Entity | 4.44% | 19.19 | 0 | | Jiangyin Qiuwei Business Services Co., Ltd. | Domestic Non-State-Owned Legal Entity | 2.56% | 11.08 | 0 | | Shen Xiaqing | Domestic Natural Person | 0.24% | 1.05 | 0 | | MORGAN STANLEY & CO.INTERNATIONAL PLC. | Overseas Legal Entity | 0.22% | 0.96 | 0 | | Mao Xiangyang | Domestic Natural Person | 0.19% | 0.80 | 0 | | BARCLAYS BANK PLC | Overseas Legal Entity | 0.18% | 0.78 | 0 | | Li Baojiang | Domestic Natural Person | 0.16% | 0.71 | 0 | | Zhu Xiaoming | Domestic Natural Person | 0.15% | 0.66 | 0 | - Chen Lijiao and Feng Yuejun jointly hold 100% equity in Jiangyin Qiuwei Business Services Co., Ltd., forming a concerted action party. Jiangyin Qiuwei Management Consulting Partnership (Limited Partnership) terminated its concerted action relationship with Chen Lijiao on August 19, 2025[11][12] II. Total Number of Preferred Shareholders and Top 10 Preferred Shareholders' Holdings The company has no preferred shareholders - The company has no preferred shareholders[12] III. Changes in Restricted Shares There were no changes in the company's restricted shares during the reporting period - There were no changes in the company's restricted shares during the reporting period[12] III. Other Significant Matters III. Other Significant Matters The company had no other significant matters to report during the reporting period - The company had no other significant matters during the reporting period[12] IV. Quarterly Financial Statements 1. Consolidated Balance Sheet As of September 30, 2025, total assets reached 2.21 billion CNY, a 20.41% increase from the beginning of the period, with a robust asset-liability structure and ample liquidity Consolidated Balance Sheet (Summary) | Item | Period-End Balance (billion CNY) | Period-Start Balance (billion CNY) | | :--- | :--- | :--- | | Assets | | | | Total Current Assets | 1.91 | 1.55 | | Total Non-Current Assets | 0.30 | 0.29 | | Total Assets | 2.21 | 1.84 | | Liabilities | | | | Total Current Liabilities | 0.95 | 0.70 | | Total Non-Current Liabilities | 0.03 | 0.02 | | Total Liabilities | 0.98 | 0.71 | | Shareholders' Equity | | | | Total Equity Attributable to Parent Company Shareholders | 1.23 | 1.12 | | Minority Interests (million CNY) | 3.98 | 2.79 | | Total Shareholders' Equity | 1.23 | 1.13 | | Total Liabilities and Shareholders' Equity | 2.21 | 1.84 | 2. Consolidated Income Statement from Year Start to End of Reporting Period As of September 30, 2025, year-to-date total operating revenue reached 2.29 billion CNY, a 25.11% increase, with net profit attributable to parent company shareholders at 127.44 million CNY, up 38.45%, indicating sustained profitability growth Consolidated Income Statement from Year Start to End of Reporting Period (Summary) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | I. Total Operating Revenue (billion CNY) | 2.29 | 1.83 | | II. Total Operating Costs (billion CNY) | 2.14 | 1.72 | | III. Operating Profit (million CNY) | 146.19 | 107.64 | | IV. Total Profit (million CNY) | 145.98 | 108.95 | | V. Net Profit (million CNY) | 128.63 | 92.69 | | Net Profit Attributable to Parent Company Shareholders (million CNY) | 127.44 | 92.04 | | VI. Net Other Comprehensive Income After Tax (million CNY) | 35.65 | 26.02 | | VII. Total Comprehensive Income (million CNY) | 164.28 | 118.71 | | VIII. Earnings Per Share (Basic/Diluted) (CNY/share) | 0.295 | 0.213 | 3. Consolidated Cash Flow Statement from Year Start to End of Reporting Period As of September 30, 2025, year-to-date net cash flow from operating activities was 53.29 million CNY, a 23.27% decrease, while net cash flow from financing activities turned into a 49.71 million CNY inflow due to increased bank borrowings, resulting in a period-end cash and cash equivalents balance of 192.83 million CNY Consolidated Cash Flow Statement from Year Start to End of Reporting Period (Summary) | Item | Current Period Amount (million CNY) | Prior Period Amount (million CNY) | | :--- | :--- | :--- | | I. Net Cash Flow from Operating Activities | 53.29 | 69.45 | | II. Net Cash Flow from Investing Activities | -18.31 | -5.87 | | III. Net Cash Flow from Financing Activities | 49.71 | -58.46 | | IV. Effect of Exchange Rate Changes on Cash and Cash Equivalents | 0.40 | 0.53 | | V. Net Increase in Cash and Cash Equivalents | 85.08 | 5.65 | | VI. Period-End Cash and Cash Equivalents Balance | 192.83 | 100.73 | II. Adjustments to Financial Statement Items at the Beginning of the First Year of Adopting New Accounting Standards from 2025 The company did not adopt new accounting standards from 2025 and thus made no adjustments to financial statement items at the beginning of that year - The company did not adopt new accounting standards from 2025 and did not adjust related financial statement items at the beginning of the year[22] III. Audit Report The company's financial accounting report for the third quarter of 2025 is unaudited - The company's third-quarter financial accounting report is unaudited[23]