Taihe(SH:605081)2025-10-29 09:35Financial Performance - The company's operating revenue for the third quarter was ¥48,335,771.76, representing a year-on-year increase of 143.45%[2] - The total profit for the period was -¥25,256,136.68, with a net profit attributable to shareholders of the listed company at -¥25,381,073.77[2] - The basic earnings per share for the quarter was -¥0.22, compared to -¥0.73 for the year-to-date[2] - Total operating revenue for the first three quarters of 2025 was CNY 81,386,642.64, a decrease of 14.5% compared to CNY 94,999,836.48 in the same period of 2024[18] - Net loss for the first three quarters of 2025 was CNY 83,729,512.69, compared to a net loss of CNY 35,973,023.75 in the same period of 2024, representing a significant increase in losses[19] - The company's operating profit (loss) for the period was CNY -79,385,117.76, worsening from CNY -31,101,021.11 in the previous year[19] - Basic and diluted earnings per share for the first three quarters of 2025 were both CNY -0.73, compared to CNY -0.32 in the same period of 2024[20] Cash Flow and Liquidity - The net cash flow from operating activities was ¥9,792,670.01, a significant improvement compared to -¥29,548,913.80 for the year-to-date[2] - The company's cash flow from operating activities showed a significant decline, impacting liquidity and operational flexibility[21] - Cash inflow from operating activities for the first three quarters of 2025 was $293.78 million, an increase of 53.6% compared to $191.16 million in the same period of 2024[22] - Net cash outflow from operating activities was $29.55 million for the first three quarters of 2025, improving from a net outflow of $96.75 million in the same period of 2024[22] - The ending cash and cash equivalents balance for the first three quarters of 2025 was $90.67 million, down from $190.21 million in the same period of 2024[23] - Total cash outflow from operating activities was $323.32 million in 2025, compared to $287.90 million in 2024, reflecting an increase of 12.3%[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,310,288,116.69, down 14.12% from the end of the previous year[3] - Total assets decreased from CNY 1,525,768,444.25 to CNY 1,310,288,116.69, reflecting a decline of approximately 14.1%[16] - Total liabilities decreased from CNY 553,326,160.45 to CNY 417,316,306.76, a reduction of about 24.6%[16] - Total current assets as of September 30, 2025, amount to 102,784,428.63 RMB, down from 188,229,802.82 RMB as of December 31, 2024[14] - Accounts receivable decreased to 386,317,311.21 RMB from 585,085,036.52 RMB year-over-year[14] - Inventory increased to 122,315,843.99 RMB from 104,224,698.45 RMB year-over-year[14] - Contract assets rose to 139,783,952.79 RMB from 127,825,409.74 RMB year-over-year[14] Shareholder Information - Total number of common shareholders at the end of the reporting period is 7,254[10] - The largest shareholder, Beijing Xinxin Xuancan Technology Center, holds 13,589,649 shares, representing 12.00% of total shares[10] - The second-largest shareholder, He Wenhui, holds 11,963,918 shares, representing 10.56% of total shares, with 5,169,094 shares frozen and 6,794,824 shares marked[12] Operational Challenges - The company faced increased operating costs and management expenses, affecting overall profitability[7] - The weighted average return on net assets was -2.81% for the quarter, reflecting ongoing financial challenges[3] - Non-recurring gains and losses for the period totaled -¥2,972,703.24, with significant impacts from asset disposals and government subsidies[6] - The company has been placed under delisting risk warning due to financial performance issues, with specific criteria outlined for potential delisting[13] - The company reported a significant decrease in cash and cash equivalents, indicating potential liquidity concerns[14] - Research and development expenses for the first three quarters of 2025 were CNY 5,017,456.96, down from CNY 6,283,086.93 in the previous year, indicating a reduction in investment in innovation[18] - The company reported an increase in credit impairment losses of CNY -22,736,441.63, compared to a gain of CNY 6,278,920.48 in the same period of 2024, highlighting challenges in asset quality[19] Market Activity - The company reported an increase in construction project numbers, contributing to revenue growth in the engineering sector[7] - The company did not report any significant new product launches or market expansions during the conference call[24]