森马服饰(002563) - 2025 Q3 - 季度财报

Financial Performance - The company's revenue for Q3 2025 reached ¥3,695,299,084.11, representing a year-on-year increase of 7.31%[5] - The net profit attributable to shareholders for Q3 2025 was ¥211,775,115.60, up 4.55% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥219,289,254.60, reflecting a 13.11% increase year-on-year[5] - Total operating revenue for the period reached ¥9,844,141,112.87, an increase of 4.73% compared to ¥9,398,671,457.45 in the previous period[27] - The company's net profit margin improved, with net profit attributable to shareholders at ¥4,336,209,018.35, down from ¥4,742,314,905.97, indicating a focus on cost management despite revenue growth[26] - The net profit attributable to shareholders of the parent company is ¥536.83 million, down from ¥755.06 million, reflecting a decrease of approximately 28.9%[28] - The total comprehensive income for the current period is ¥534.89 million, compared to ¥785.77 million in the previous period, indicating a decline of about 31.9%[28] Assets and Liabilities - The total assets at the end of Q3 2025 amounted to ¥18,155,188,100.11, a decrease of 4.95% from the end of the previous year[5] - Cash and cash equivalents decreased to ¥5,459,147,153.96 from ¥6,285,081,629.10, a decline of 13.14%[24] - Inventory levels increased significantly to ¥4,141,751,903.57, up from ¥3,481,423,549.29, representing a rise of 18.93%[24] - Current liabilities totaled ¥6,351,958,090.07, down from ¥6,961,690,344.04, indicating a decrease of 8.73%[25] - Non-current liabilities increased slightly to ¥354,129,517.32 from ¥312,353,396.01, reflecting a rise of 13.39%[25] - The total assets decreased to ¥18,155,188,100.11 from ¥19,100,703,356.69, a reduction of 4.93%[25] Cash Flow - The net cash flow from operating activities for the year-to-date period was -¥485,427,772.61, indicating a significant cash outflow[5] - Cash flow from operating activities shows a net outflow of ¥485.43 million, worsening from a net outflow of ¥365.23 million in the previous period[30] - Cash flow from investing activities generated a net inflow of ¥520.03 million, a significant improvement from a net outflow of ¥941.53 million in the previous period[30] - Cash flow from financing activities resulted in a net outflow of ¥864.52 million, compared to a larger outflow of ¥1,698.78 million in the previous period, indicating a reduction in cash outflow[30] - The total cash and cash equivalents at the end of the period stand at ¥5.25 billion, an increase from ¥5.09 billion at the end of the previous period[30] Shareholder Information - Qiu Jianqiang holds 13.34% of the company's shares, with 136,780,000 shares pledged, representing 5.08% of the total share capital[16] - The top 10 shareholders collectively hold 69.34% of the company's shares, with Qiu Guanghe being the largest shareholder at 15.34%[15] - The company has not reported any changes in the participation of the top 10 shareholders in margin financing and securities lending[15] - The total number of shares held by Qiu Guanghe is 413,339,300, all of which are unrestricted ordinary shares[15] - The company has not disclosed any related party transactions among the top shareholders beyond familial relationships[15] Incentive Plans - The company completed the stock option incentive plan registration for 97,233,500 options at an exercise price of 3.69 RMB per option[18] - The first exercise period of the 2024 stock option incentive plan was not achieved, leading to the cancellation of 39,145,520 options[20] - The stock option incentive plan was approved by the board and the supervisory board, with no objections raised during the public notice period[17] - The company has a total of 144 incentive objects for the stock option plan, with no objections received during the public notice period[18] Income and Expenses - The company reported a 65.91% increase in other income, totaling ¥31,721,946.93, primarily due to increased government subsidies[11] - The company experienced a 34.56% decrease in income tax expenses, amounting to ¥186,762,500.83, attributed to a reduction in profits[11] - Total operating costs amounted to ¥8,893,176,026.44, up from ¥8,137,508,771.33, reflecting a year-over-year increase of 9.29%[27] - Research and development expenses were stable at ¥210,086,337.29, compared to ¥209,971,290.32 in the previous period, indicating a commitment to innovation[27] Profitability - The company's operating profit for the current period is approximately ¥718.22 million, a decrease from ¥1,039.46 million in the previous period, representing a decline of about 30.9%[28] - The basic and diluted earnings per share for the current period are both ¥0.20, down from ¥0.28 in the previous period, representing a decrease of approximately 28.6%[28]