2025-10-28 09:30Financial Performance - Q3 2025 revenue was CNY 397,246,057.55, a decrease of 0.81% year-over-year, while year-to-date revenue increased by 18.87% to CNY 1,194,766,367.29[3] - The net profit attributable to shareholders for Q3 2025 was a loss of CNY 6,732,685.90, a 93.57% increase in loss compared to the same period last year, with a year-to-date profit of CNY 5,430,990.16, down 91.70% year-over-year[3] - Total operating revenue for the current period reached ¥1,194,766,367.29, an increase of 18.86% compared to ¥1,005,111,902.89 in the previous period[21] - Total operating costs amounted to ¥1,207,774,665.32, up from ¥1,164,273,683.45, reflecting a growth of 3.73%[21] - Net profit for the current period was ¥5,206,349.06, a significant decrease of 91.93% from ¥64,612,588.78 in the previous period[22] - The total comprehensive income for the current period was ¥5,419,198.66, down from ¥64,805,716.94, a decline of 91.66%[23] Cash Flow - The net cash flow from operating activities for the year-to-date period was CNY 223,948,223.90, representing a significant increase of 328.79%[3] - The net cash flow from operating activities for the first nine months of 2025 reached ¥223,948,223.90, a significant increase of 328.79% compared to ¥52,228,518.39 in the same period of 2024, primarily due to the receipt of passive financial support funds[12] - The net cash flow from investing activities showed a decline of 121.57%, amounting to -¥30,048,307.13, compared to ¥139,311,867.35 in the previous year, mainly due to asset purchases and external investments[12] - The net cash flow from financing activities improved by 53.51%, totaling -¥120,390,660.46, compared to -¥258,985,580.89 in the same period last year, primarily due to a reduction in debt repayments[12] - The net increase in cash and cash equivalents was ¥70,497,038.30, a turnaround of 195.68% from -¥73,676,883.08 in the previous year, reflecting the combined effects of cash flows from operating, investing, and financing activities[12] Assets and Liabilities - Total assets as of September 30, 2025, were CNY 2,525,655,767.97, an increase of 4.36% from the end of the previous year[3] - The company’s total liabilities increased by 149.50% in contract liabilities to CNY 87,572,519.91, reflecting an increase in advance payments received[9] - The total liabilities increased to ¥2,028,123,898.08 from ¥1,928,288,812.05, marking a rise of 5.19%[21] - The total equity attributable to shareholders of the parent company was ¥497,892,052.87, slightly up from ¥492,269,498.07, reflecting an increase of 1.27%[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 62,291, with 62,249 being A-share holders[13] - The top ten shareholders held significant stakes, with Hong Kong Central Clearing Limited owning 32.08% (255,950,980 shares) and Shouguang Molong Holdings Limited holding 29.53% (235,617,000 shares)[13] Management and Expenses - Management expenses decreased by 69.42% to CNY 28,998,668.25, due to cost control measures and reduced expenses following the transfer of subsidiary equity[10] - Research and development expenses rose to ¥26,412,555.10 from ¥21,513,788.05, an increase of 22.87%[22] Other Financial Activities - The company completed a debt transfer and restructuring agreement, transferring a debt of ¥169,119,800 to Shouguang Vegetable Wholesale Market Company, receiving ¥84,000,000 in cash and property valued at ¥85,119,800[15] - As of the report date, the balance of financial support from Shouguang Baolong was ¥292,000,000, while the financial support from Weihai Baolong had been fully repaid[16] Audit and Future Reporting - The company did not undergo an audit for the third quarter financial report, which may affect investor confidence[25] - The company plans to implement new accounting standards starting in 2025, which could impact future financial reporting[26]