Appo(SH:688007)2025-10-30 10:25Financial Performance - The company's revenue for Q3 2025 was approximately ¥391.74 million, representing a year-over-year decline of 38.62%[4] - The total profit for the period was a loss of approximately ¥5.96 million, a decrease of 118.17% compared to the previous year[4] - The net profit attributable to shareholders was a loss of approximately ¥4.64 million, down 114.48% year-over-year[4] - Total operating revenue for the first three quarters of 2025 was CNY 1,353,229,603.25, a decrease of 21.3% compared to CNY 1,719,599,203.83 in the same period of 2024[23] - The net loss for the first three quarters of 2025 was CNY 144,513,784.05, compared to a net profit of CNY 23,897,962.51 in the same period of 2024[24] - The company's operating profit for the first three quarters of 2025 was a loss of CNY 54,613,848.24, contrasting with a profit of CNY 39,793,514.97 in 2024[23] - The company reported a total comprehensive loss of CNY 141,389,909.62 for the first three quarters of 2025, compared to a comprehensive income of CNY 26,819,790.79 in 2024[24] Research and Development - Research and development expenses totaled approximately ¥55.89 million, accounting for 14.27% of revenue, an increase of 4.8 percentage points from the previous year[4] - Research and development expenses increased to CNY 180,691,624.27 in 2025 from CNY 172,023,725.41 in 2024, indicating a rise of 5.7%[23] - The company launched two AR glasses optical engines and two visible light underwater LiDAR products at the 26th China International Optoelectronic Expo, receiving significant industry attention[10] - The "Dragonfly G1" AR optical engine features an industry-first "one-to-two" design, while the "Rainbow C1" supports both monocular and binocular AR display solutions[11] - The "Distant View D10" is the industry's first consumer-grade visible light underwater LiDAR, enhancing underwater measurement capabilities to 10 meters[11] Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥3.84 billion, a decrease of 9.66% from the previous year[5] - The total liabilities decreased to CNY 1,372,684,893.23 in 2025 from CNY 1,585,782,677.96 in 2024, a reduction of 13.4%[20] - The total assets decreased to CNY 3,844,641,534.07 in 2025 from CNY 4,255,663,351.00 in 2024, reflecting a decline of 9.7%[20] - The company's equity attributable to shareholders decreased to CNY 2,575,643,704.87 in 2025 from CNY 2,740,047,895.12 in 2024, a decrease of 6.0%[20] Shareholder Information - Total number of common shareholders at the end of the reporting period is 16,205[13] - The largest shareholder, Shenzhen Guangfeng Holdings Co., Ltd., holds 79,762,679 shares, accounting for 17.37% of total shares[13] - The company has a total of 79,762,679 unrestricted circulating shares held by the largest shareholder[14] - The company has not reported any significant changes in shareholder relationships or actions during the reporting period[14] Cash Flow - The net cash flow from operating activities was not applicable for the current period, but was approximately ¥149.62 million for the previous year[4] - Cash inflow from operating activities for the first three quarters of 2025 was approximately $1.74 billion, compared to $1.85 billion in the same period of 2024, reflecting a decrease of about 6.06%[28] - Net cash flow from operating activities increased to approximately $149.62 million in 2025 from $71.52 million in 2024, representing an increase of about 109.06%[28] - Cash inflow from investment activities totaled approximately $1.70 billion in 2025, up from $1.22 billion in 2024, marking an increase of about 39.2%[29] - Net cash flow from investment activities was negative at approximately -$507.86 million in 2025, compared to -$161.39 million in 2024, indicating a worsening of investment cash flow[29] - Cash inflow from financing activities was approximately $203.52 million in 2025, compared to $141.34 million in 2024, an increase of about 43.93%[29] - Net cash flow from financing activities was negative at approximately -$44.58 million in 2025, improving from -$261.97 million in 2024[29] - The ending cash and cash equivalents balance for 2025 was approximately $921.27 million, slightly down from $942.80 million in 2024[29] - The company received approximately $1.68 billion from investment recoveries in 2025, compared to $1.19 billion in 2024, reflecting a significant increase[29] - The company reported a cash outflow of approximately $2.21 billion from investment activities in 2025, compared to $1.38 billion in 2024, indicating increased investment expenditures[29] - The company experienced a negative impact of approximately -$2.44 million from exchange rate fluctuations on cash and cash equivalents in 2025[29] Financial Statements - The financial statements are unaudited as of September 30, 2025[15] - The weighted average return on net assets was -0.18%, a decrease of 1.34 percentage points compared to the previous year[4] - Total current assets amount to RMB 2,481,213,643.59, a decrease from RMB 2,955,806,569.15 in the previous period[18] - Cash and cash equivalents are reported at RMB 1,175,282,364.36, down from RMB 1,654,769,306.21[18] - Inventory stands at RMB 458,673,379.94, compared to RMB 595,519,245.19 previously[18] - Long-term equity investments are valued at RMB 6,700,103.46, slightly up from RMB 6,242,039.74[18] - Fixed assets have increased to RMB 641,146,997.14 from RMB 272,101,764.36[18]