浙江明牌珠宝股份有限公司 2025 年第三季度报告 证券代码：002574 证券简称：明牌珠宝 公告编号：2025-034 浙江明牌珠宝股份有限公司 2025 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度财务会计报告是否经过审计 □是 否 1 浙江明牌珠宝股份有限公司 2025 年第三季度报告 适用 □不适用 | 项目 | 本报告期金额 | 年初至报告期期末金额 | 说明 | | --- | --- | --- | --- | | 非流动性资产处置损益（包 | | | | | 括已计提资产减值准备的冲 | -19,287,546.99 | -19,592,223.93 | | | 销部分） | | | | | 计入当期损益的政府补助 （与公司正常经营业务密 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥75,633,039.64, an increase of 2.88% compared to the same period last year[6] - Net profit attributable to shareholders was ¥4,335,472.95, representing a significant increase of 104.34% year-on-year[6] - The net profit after deducting non-recurring gains and losses was ¥548,288.30, up 143.84% from the previous year[6] - Basic earnings per share for the third quarter were ¥0.0387, an increase of 104.76% compared to the same period last year[6] - Net profit for the current period is ¥16,135,893.83, up 67.5% from ¥9,633,992.28 in the previous period[25] - Basic and diluted earnings per share increased to ¥0.1288 from ¥0.0694, representing an 85.5% increase[26] Cash Flow - Cash flow from operating activities for the year-to-date period was ¥34,686,116.93, showing a remarkable increase of 917.31%[6] - The net cash flow from operating activities for the period of January to September 2025 reached ¥34,686,116.93, a significant increase of 917.31% compared to the same period in 2024, which reported a net cash flow of -¥4,243,916.36[12] - Net cash flow from operating activities improved to ¥34,686,116.93, compared to a negative cash flow of ¥4,243,916.36 in the previous period[26] - Cash flow from investment activities showed a net outflow of ¥79,814,369.32, an improvement from a net outflow of ¥238,063,630.33 in the previous period[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,398,464,984.92, a decrease of 0.59% from the end of the previous year[6] - The company's current assets totaled CNY 1,076,743,009.63, down from CNY 1,118,996,059.12 at the start of the period, reflecting a decrease of approximately 3.8%[21] - The company's total liabilities decreased to CNY 395,767,366.87 from CNY 419,323,433.09, indicating a decrease of about 5.6%[22] - The total equity attributable to the owners of the parent company increased to CNY 942,869,340.28 from CNY 935,168,071.97, showing a growth of approximately 0.8%[23] Shareholder Information - The total number of common shareholders at the end of the reporting period was 9,576, with no preferred shareholders having restored voting rights[14] - Anhui State-owned Capital Operation Holding Group Co., Ltd. holds 30.00% of the shares, amounting to 33,600,000 shares, making it the largest shareholder[14] - The top ten shareholders collectively hold significant stakes, with the largest individual shareholder, Anhui State-owned Capital, having no shares under pledge or restriction[15] - The total number of restricted shares at the beginning of the period was 42,469,646, with 1,587,542 shares released from restriction during the period, leaving 40,944,604 restricted shares at the end[18] Operational Highlights - The company reported a revenue increase of 15% year-over-year, reaching 1.2 billion CNY in Q3 2025[29] - User data showed a growth of 25% in active users, totaling 5 million by the end of Q3 2025[29] - The company provided a forward guidance of 10% revenue growth for Q4 2025, projecting revenues to reach approximately 1.32 billion CNY[29] - New product launches contributed to a 30% increase in sales in the last quarter, with three new products introduced[29] - The company is expanding its market presence in Southeast Asia, targeting a 20% market share by the end of 2026[29] Strategic Initiatives - The company announced a strategic acquisition of a local competitor, expected to enhance market capabilities and increase revenue by 5%[29] - The company plans to invest 200 million CNY in infrastructure development over the next two years[29] - The company has announced a change in its accounting firm on August 20, 2025, indicating a strategic shift in its financial oversight[19] Cost Management - Operating margin improved to 18%, up from 15% in the previous quarter, indicating better cost management[29] - Total operating costs decreased to ¥221,917,493.34 from ¥230,898,730.06, reflecting a reduction of 3.8%[24] - Research and development expenses decreased to ¥10,302,326.86 from ¥11,834,551.63, a reduction of 12.9%[24] - Research and development expenses increased by 12%, totaling 150 million CNY, focusing on innovative technologies[29] Tax and Financial Expenses - The effective tax rate increased significantly, with income tax expenses rising by 563.85% to ¥2,218,360.84, reflecting higher total profits[10] - The company's financial expenses increased by 163.54% to ¥343,484.88 due to rising bank loan interest payments[10]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥893,508,630.04, an increase of 86.04% compared to the same period last year[5] - The net profit attributable to shareholders decreased by 5.30% to ¥23,541,208.77, while the net profit excluding non-recurring gains and losses dropped by 16.41% to ¥20,431,105.91[5] - The company achieved operating revenue of 894 million RMB in the reporting period, an increase of 86.04% year-on-year; cumulative operating revenue reached 2.273 billion RMB, up 49.83% year-on-year[17] - The net profit attributable to shareholders was 86.14 million RMB, a significant increase of 163.10% compared to the same period last year, primarily driven by substantial growth in IT infrastructure construction business revenue[17] - Net profit for the current period was ¥85,230,565.92, compared to ¥32,741,684.58 in the previous period, reflecting an increase of approximately 160%[21] - The net profit attributable to the parent company's shareholders is 86,144,603.69, compared to 32,741,684.58 in the previous period, indicating a significant increase[22] - The total comprehensive income attributable to the parent company's owners is 85,998,270.84, up from 32,741,684.58 in the previous period[22] Assets and Liabilities - Total assets as of September 30, 2025, amounted to ¥3,345,060,546.21, reflecting a 26.53% increase from the end of the previous year[5] - Current assets totaled ¥2,982,830,617.72, an increase from ¥2,294,441,614.31, showing a growth of around 30%[20] - The total assets reached ¥3,345,060,546.21, up from ¥2,643,729,847.71, indicating a growth of approximately 27%[21] - The company's total liabilities increased to ¥1,616,654,346.97 from ¥1,001,758,861.33, reflecting a rise of about 61%[20] - The equity attributable to shareholders increased to ¥1,722,904,819.92 from ¥1,641,970,964.95, showing a growth of approximately 5%[20] Cash Flow - The company’s cash flow from operating activities showed a negative net amount of ¥744,564,289.91, indicating a decline of 1,665.12% year-to-date[5] - The net cash flow from operating activities was -744.56 million RMB, a decrease of 1665.12% year-on-year, mainly due to increased procurement payments and project execution delays[12] - The net cash flow from financing activities increased to 555.24 million RMB, a rise of 465.60% year-on-year, driven by increased bank borrowings[12] - Cash inflow from financing activities is 1,097,496,139.67, compared to 339,725,652.79 in the previous period, showing a substantial increase[24] - The net cash flow from financing activities is 555,235,767.99, a turnaround from -151,868,733.43 in the previous period[24] Shareholder Information - The company had a total of 51,512 common shareholders at the end of the reporting period[14] - The top shareholder, Li Kai, holds 4.77% of the shares, with 20,503,155 shares, of which 7,150,000 are pledged[14] Operational Metrics - The company reported a significant increase in accounts receivable, which rose by 46.45% to ¥644,644,128.19, primarily due to contracts recognized as revenue but not yet collected[10] - The gross profit margin for the first nine months of 2025 was impacted by a 55.19% increase in operating costs, totaling ¥1,957,069,699.91, due to higher IT infrastructure construction business revenue[10] - The comprehensive gross profit margin was 13.91%, a decrease of 2.97% year-on-year, influenced by industry and product structure changes[17] - The company experienced a significant increase in demand from internet industry clients, contributing to the revenue growth in IT infrastructure construction[17] Research and Development - The company’s intangible assets increased by 74.48% to ¥60,098,979.78, attributed to the capitalization of research and development projects[10] - Research and development expenses for the current period were ¥56,292,786.21, down from ¥65,179,055.17, indicating a decrease of about 14%[21] Other Information - The company recognized non-recurring gains of ¥3,110,102.86 in the current period, primarily from the reversal of impairment provisions related to receivables[7] - The company reported a credit impairment loss of 11.28 million RMB, an increase of 590.63% year-on-year, mainly due to the reversal of previously provided impairment provisions[12] - The company has not undergone an audit for the third quarter financial report[25] - The company will implement new accounting standards starting from 2025[26]

2025 年第三季度报告 证券代码：300055 证券简称：万邦达 公告编号：2025-056 北京万邦达环保技术股份有限公司 2025 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会及董事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个 别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完 整。 3.第三季度财务会计报告是否经过审计 □是 否 一、主要财务数据 （一） 主要会计数据和财务指标 其他符合非经常性损益定义的损益项目的具体情况： 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 597,459,715.55 | -5.40% | 1,783,786,467.49 | ...

Financial Performance - The company's revenue for Q3 2025 was ¥625,136,543.10, representing a decrease of 7.61% compared to the same period last year[5] - The net profit attributable to shareholders was -¥36,412,069.58, a decline of 412.53% year-on-year[5] - The basic earnings per share were -¥0.12, reflecting a decrease of 400.00% compared to the previous year[5] - Total operating revenue for the current period was ¥1,736,558,833.71, a decrease of 13.7% compared to ¥2,012,048,688.12 in the previous period[21] - The net profit for the current period was a loss of ¥78,767,290.41, compared to a profit of ¥46,567,634.47 in the previous period[22] - The total comprehensive income for the period was -34,156,150.86, compared to 50,233,633.54 in the previous period[23] - Basic and diluted earnings per share were both -0.27, down from 0.16 in the previous period[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,437,134,921.43, an increase of 3.96% from the end of the previous year[5] - Current assets totaled ¥1,844,995,003.43, up 9.6% from ¥1,683,375,825.98 at the beginning of the period[18] - The company's total liabilities increased to ¥2,112,373,267.12 from ¥1,836,037,937.18, marking a rise of 15.0%[20] - The company's total non-current liabilities rose to ¥735,134,824.06 from ¥495,133,927.80, an increase of 48.5%[20] Cash Flow - The company reported a net cash flow from operating activities of ¥16,817,457.39, down 93.85% year-on-year[11] - Cash inflow from operating activities was 1,866,024,927.78, a decrease of 19.7% from 2,323,623,449.68 in the previous period[24] - Net cash flow from operating activities was 16,817,457.39, significantly down from 273,250,743.60 in the previous period[25] - Cash inflow from financing activities was 745,774,650.99, an increase from 392,906,826.96 in the previous period[25] - Net cash flow from financing activities was 89,468,857.42, recovering from -262,792,291.36 in the previous period[25] Shareholder Information - The total number of common shareholders at the end of the reporting period is 22,668[12] - The largest shareholder, GUICHAO HUA, holds 33.65% of the shares, amounting to 100,455,235 shares, with 54,030,000 shares pledged[12] - The top ten shareholders hold a combined total of 99.99% of the shares, with the remaining shareholders holding less than 1%[12] - The company has repurchased a total of 7,490,000 shares, representing 2.51% of the total share capital, with a total transaction amount of RMB 99,960,465.5[16] - The maximum repurchase price was RMB 20.20 per share, while the highest and lowest transaction prices were RMB 15.45 and RMB 11.75, respectively[16] - The company plans to use the repurchased shares for employee incentive plans or stock ownership plans[15] Other Financial Metrics - The investment income increased by 158.06% to ¥1,818,941.65, primarily due to recognized external investment gains[10] - The company experienced a significant increase in long-term borrowings, which rose by 74.67% to ¥570,092,653.00[9] - The company reported a substantial increase in other comprehensive income, which rose by 1614.70% to ¥47,373,949.86, mainly due to exchange rate fluctuations[9] - The company's retained earnings decreased to ¥503,945,145.97 from ¥593,902,637.34, a decline of 15.1%[20] - The ending cash and cash equivalents balance was 466,455,005.62, up from 391,166,391.93 in the previous period[25] Audit Status - The third quarter financial report was not audited[26]

Financial Performance - Q3 2025 revenue decreased by 55.74% year-over-year to ¥25,898,418.30, and year-to-date revenue decreased by 26.10% to ¥52,745,358.88[5] - Net profit attributable to shareholders was -¥7,525,007.13, a decrease of 1,497.93% year-over-year, with year-to-date net profit at -¥43,781,038.45, down 76.22%[5] - Basic and diluted earnings per share were both -¥0.0137, reflecting a decrease of 1,470.00% year-over-year[5] - Total operating revenue for Q3 2025 was CNY 52,745,358.88, a decrease of 26.1% compared to CNY 71,370,988.07 in the same period last year[22] - Net profit for Q3 2025 was a loss of CNY 43,781,038.45, compared to a loss of CNY 24,844,750.42 in the previous year, representing an increase in loss of 76.1%[23] - The total comprehensive income attributable to the parent company was -43,781,038.45 CNY, compared to -24,844,750.42 CNY in the previous period, indicating a decline[24] - Basic and diluted earnings per share were both -0.0796 CNY, down from -0.0452 CNY in the previous period[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,192,566,096.71, a decrease of 2.11% from the end of the previous year[5] - The company's total assets decreased to CNY 1,192,566,096.71 from CNY 1,218,211,054.64, a decline of 2.1%[21] - Current liabilities increased to CNY 236,367,449.60, up 8.5% from CNY 217,812,547.77 year-over-year[21] - The company’s total liabilities increased to CNY 237,156,105.96, up from CNY 218,926,039.08, reflecting a rise of 8.5%[21] - The company’s retained earnings decreased to CNY 322,554,571.24 from CNY 366,335,609.69, a decline of 11.9%[21] Cash Flow - Cash flow from operating activities showed a net outflow of -¥37,877,648.59, an increase of 33.77% compared to the previous year[5] - Cash inflow from operating activities totaled 77,638,910.44 CNY, a decrease from 88,663,252.50 CNY year-over-year[24] - Cash outflow from operating activities was 115,516,559.03 CNY, compared to 145,853,457.62 CNY in the previous period, showing a reduction[25] - The net cash flow from operating activities was -37,877,648.59 CNY, improving from -57,190,205.12 CNY in the previous period[24] - Cash inflow from investing activities amounted to 147,433,162.56 CNY, up from 140,292,661.45 CNY year-over-year[25] - The net cash flow from investing activities was 12,763,361.09 CNY, a significant improvement from -92,552,516.15 CNY in the previous period[25] - Cash inflow from financing activities was 40,000,000.00 CNY, with a net cash flow of 19,959,333.33 CNY, compared to -7,408,288.85 CNY in the previous period[25] - The ending cash and cash equivalents balance was 77,557,293.61 CNY, slightly up from 75,497,235.75 CNY in the previous period[25] Investments and Financing - The company reported a significant increase in construction in progress by 187.58%, reaching ¥32,974,417.14, due to new investments in the aviation industry base[8] - Short-term borrowings increased to ¥10,000,000.00, marking a 100.00% increase as a result of bank loans taken during the reporting period[8] - Investment income rose by 90.38% to ¥390,389.21, attributed to increased returns from idle funds invested in financial products[8] - The company recorded a 90.38% increase in investment income cash receipts to 413,812.56, attributed to returns from financial products[9] - Cash flow from financing activities increased significantly, with inflows of 187,433,162.56, marking a 100% increase due to bank loans and borrowings from a controlling shareholder[10] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 64,878, with the largest shareholder holding 39.72% of shares[11] - The controlling shareholder, Huiju Technology, holds 39.72% of the company's total shares, while its action-in-concert party, Nanjing Huanyu Xingkong Technology Co., Ltd., holds 14.01%[15] - As of September 30, 2025, the action-in-concert party has cumulatively reduced its shareholding by 2.84% through various trading methods[17] - The company’s independent directors approved the borrowing proposal, ensuring compliance with regulations regarding related party transactions[16] Asset Sales and Future Plans - The company signed a sales contract with Shaanxi Zhongju Jiaheng Technology Co., Ltd. to sell industrial land and buildings with a total area of 20,776.83 square meters for a transaction price of RMB 163.5 million, based on an assessed value of RMB 164.8 million[13] - The proceeds from the asset sale will be used for daily operations and the construction of a new park, which will enhance asset structure and operational efficiency[13] - As of the report date, the company has received a deposit of RMB 10 million for the asset sale, with the transaction procedures ongoing due to complexities in land transfer[14] - The company plans to borrow up to RMB 50 million from its controlling shareholder, Huiju Technology, to supplement operational funds, with a borrowing term of one year[15] Other Financial Metrics - The company recorded a 77.69% increase in credit impairment losses, amounting to -¥33,921,588.64, due to higher provisions for accounts receivable[8] - Other payables surged by 383.91% to ¥20,765,513.75, primarily due to loans from the controlling shareholder[8] - Investment cash outflows decreased by 42.16% to 134,669,801.47, reflecting a reduction in investment payments[9] - The company disposed of fixed assets, resulting in a significant increase in cash receipts from asset disposals, up 9221.85% compared to the previous year[9] - The third quarter financial report was not audited[26]

Financial Performance - The company's operating revenue for Q3 2025 was ¥627,840,615.05, representing a year-on-year increase of 13.10%[5] - The net profit attributable to shareholders for Q3 2025 was ¥10,712,126.50, a significant increase of 336.60% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥4,588,152.74, up 185.83% year-on-year[5] - The basic earnings per share for Q3 2025 was ¥0.03, reflecting a 400.00% increase from the previous year[5] - Operating profit increased by 797.34% to ¥37,245,499.53 attributed to higher revenue and gross profit[17] - Net profit grew by 742.96% to ¥33,804,586.12 primarily due to increased operating profit[17] - Total operating revenue for the current period reached ¥1,847,630,496.43, an increase of 12.1% compared to ¥1,648,381,177.01 in the previous period[30] - Net profit for the current period was ¥33,804,586.12, significantly higher than ¥4,010,234.55 in the previous period, marking an increase of 743.5%[30] - Basic and diluted earnings per share were both 0.08, compared to 0.01 in the previous period, reflecting improved profitability[31] Assets and Liabilities - The total assets at the end of Q3 2025 amounted to ¥2,217,632,897.69, an increase of 9.78% compared to the end of the previous year[5] - Current assets totaled ¥1,904,332,791.35, an increase of 11.7% from ¥1,704,835,451.30 at the beginning of the period[27] - Current liabilities increased to ¥640,862,470.47, up 33.8% from ¥478,852,711.20 at the beginning of the period[28] - Total assets reached ¥2,217,632,897.69, reflecting a growth of 9.8% from ¥2,020,017,012.77[28] - The company’s retained earnings increased to ¥521,483,079.12 from ¥496,450,428.86, reflecting a growth of 5.0%[28] Cash Flow - The company reported a 115.68% decline in net cash flow from operating activities, primarily due to higher payments than collections in the digital retail business[6] - Cash flow from operating activities decreased by 115.68% to -¥15,196,125.12 due to higher payment amounts exceeding collections[19] - Cash inflow from operating activities was 2,071,331,366.80, an increase from 1,956,340,743.01 in the previous period[33] - The net cash flow from operating activities was -15,196,125.12, a decline from 96,907,063.20 in the prior period, indicating cash flow challenges[33] - Cash flow from investing activities showed a net outflow of -277,822,161.00, worsening from -74,389,912.31 in the previous period[34] - Cash flow from financing activities generated a net inflow of 203,771,559.81, compared to a net outflow of -22,986,402.64 in the prior period, suggesting improved financing conditions[35] Business Segments - The digital retail business revenue grew by 31.56% year-on-year, while brand communication business revenue increased by 19.63%[12] - The company’s investment income and government subsidies increased compared to the previous year, contributing to overall performance improvement[12] Expenses - The company’s management expenses decreased by 14.89% year-on-year due to the application of AI and intelligent systems for cost reduction[12] - R&D expenses decreased by 40.59% to ¥1,652,504.62 due to reduced personnel costs[17] - Financial expenses increased by 142.57% to ¥2,333,604.56 primarily from increased discount interest expenses[17] - Other income rose by 197.01% to ¥11,576,740.14 mainly due to increased government subsidies received[17] - Investment income surged by 1,343.55% to ¥13,721,285.37 driven by higher returns from financial products and investments in associates[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 20,648[20] - The company’s major shareholders include Liang Dingjiao with 28,065,600 shares (6.61%), and Tianfu International with 24,267,600 shares (5.72%)[22] - The report indicates that the indirect shareholding of major shareholders remained unchanged during the reporting period[22] - The company’s major shareholders have significant stakes, with the top 10 shareholders holding a combined total of 100,000,000 shares[22] Governance and Structure - The company completed the election of the fourth board of directors, which includes 4 non-independent directors and 3 independent directors[24] - The company will no longer have a supervisory board, with its functions transferred to the audit committee of the board of directors[23] - The company has established new governance structures following the board's restructuring[23] - The company’s stock structure has been affected by the exercise of stock options, leading to a dilution of shareholding percentages[25] - As of September 30, 2025, the total share capital increased from 424,253,592 shares to 424,411,492 shares due to the exercise of stock options by employees[25] - The company’s stock option plan allowed employees to exercise 157,900 shares during the reporting period[25] Cash Management - The company’s cash and cash equivalents decreased to ¥758,728,943.73 from ¥847,709,083.90, a decline of 10.5%[27] - The ending cash and cash equivalents balance was 747,462,416.21, down from 855,295,578.77 at the end of the previous period[35] - The company received 2,038,191,141.57 in cash from sales of goods and services, compared to 1,920,061,746.40 in the previous period, indicating increased sales activity[33] - The company reported a tax refund of 3,728,512.77, which was not present in the previous period, contributing positively to cash flow[33]

兴源环境科技股份有限公司 2025 年第三季度报告 证券代码：300266 证券简称：兴源环境 公告编号：2025-089 兴源环境科技股份有限公司 2025 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会及董事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担 个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度财务会计报告是否经过审计 1 兴源环境科技股份有限公司 2025 年第三季度报告 一、主要财务数据 （一）主要会计数据和财务指标 □是否 公司是否需追溯调整或重述以前年度会计数据 是□否 追溯调整或重述原因 会计政策变更 | | | 上年同期 | | 本报告期 比上年同 | 年初至报 | 上年同期 | | 年初至报 告期末比 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 本报告期 | | | ...

Revenue and Profitability - The company's revenue for Q3 2025 reached ¥419,741,518.38, representing a year-on-year increase of 21.80%[5] - The net profit attributable to shareholders was a loss of ¥1,310,329.01, a decline of 126.57% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥3,630,489.22, up 20.30% year-on-year[5] - Total operating revenue for the current period reached ¥1,092,757,319.55, an increase of 17.6% compared to ¥929,293,960.95 in the previous period[18] - The net profit for the current period was a loss of ¥31,505,896.72, compared to a profit of ¥11,710,805.72 in the previous period, indicating a substantial decline in profitability[19] - The basic earnings per share for the current period was -¥0.20, down from ¥0.06 in the previous period, indicating a negative return for shareholders[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,091,301,033.23, an increase of 9.80% from the end of the previous year[5] - The total assets of the company reached ¥2,091,301,033.23, compared to ¥1,904,635,709.63 in the previous period, showing growth in asset base[17] - Total liabilities increased to ¥1,356,219,752.42 from ¥1,156,300,930.22, indicating a rise in financial obligations[17] - The company's equity attributable to shareholders decreased to ¥701,945,988.53 from ¥724,874,911.76, reflecting a decline in shareholder value[17] Cash Flow - The company's cash flow from operating activities showed a net outflow of ¥27,880,842.42, a decrease of 160.19% compared to the same period last year[5] - Operating cash flow for the current period was -27,880,842.42 CNY, a decrease from 46,322,933.44 CNY in the previous period[20] - Cash inflow from operating activities totaled 1,220,652,717.52 CNY, compared to 1,140,974,470.84 CNY in the previous period[20] - Cash outflow from operating activities was 1,248,533,559.94 CNY, up from 1,094,651,537.40 CNY year-over-year[20] - Total cash inflow from financing activities increased to 1,032,637,147.50 CNY, compared to 405,993,771.31 CNY in the prior period[21] - Net cash flow from financing activities was 194,467,060.77 CNY, up from 62,380,684.01 CNY year-over-year[21] - Cash and cash equivalents at the end of the period totaled 268,902,484.70 CNY, an increase from 178,819,425.96 CNY in the previous period[21] Shareholder Information - Total number of common shareholders at the end of the reporting period is 40,822[10] - The largest shareholder, Chen Qinzong, holds 31.54% of shares, totaling 48,321,000 shares, with 19,080,000 shares pledged[10] Investments and Expenses - Research and development expenses increased to ¥23,947,508.17 from ¥18,951,036.84, highlighting a focus on innovation and product development[18] - The company reported a significant increase in short-term borrowings, which rose to ¥911,101,932.19 from ¥729,166,183.83, indicating increased reliance on debt financing[16] - Cash outflow for investment activities was 88,044,212.09 CNY, significantly higher than 38,265,114.95 CNY in the previous period[20] - Net cash flow from investment activities was -86,347,049.69 CNY, worsening from -36,985,090.95 CNY in the prior period[20] - The company received 13,048,960.00 CNY from investment, with 9,800,000.00 CNY coming from minority shareholders[21] Other Financial Metrics - The weighted average return on equity was -0.21%, down 0.85 percentage points year-on-year[5] - Deferred income tax assets rose to ¥36,095,228.33 from ¥28,404,545.46, suggesting potential future tax benefits[16] - The company confirmed that 34 individuals met the performance conditions for stock options, with a total of 318,200 shares eligible for vesting[11] - The company has no known related party transactions outside of disclosed relationships among major shareholders[11] - There are no changes in the participation of major shareholders in margin trading or securities lending activities[11]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥238,477,452.79, representing a year-on-year increase of 14.82%[5] - Net profit attributable to shareholders was ¥21,946,557.84, a significant increase of 106.06% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥22,538,701.88, up 212.36% year-on-year[5] - The total operating revenue for the current period is ¥611,473,385.33, slightly up from ¥608,815,610.55 in the previous period, indicating a growth of approximately 0.27%[23] - Net profit for the current period was ¥48,470,797.18, down from ¥67,158,532.63, representing a decline of about 28%[25] - The total profit increased to ¥77,369,333.81 from ¥73,407,341.08, an increase of approximately 4.1%[24] - Basic earnings per share decreased to ¥0.0922 from ¥0.1827, a decline of about 49%[25] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥1,549,765,358.12, reflecting a slight increase of 0.13% from the end of the previous year[5] - Total assets amounted to ¥1,549,765,358.12, a slight increase from ¥1,547,725,078.17, indicating a growth of approximately 0.07%[21] - Total liabilities increased to ¥972,673,007.61 from ¥949,545,094.09, representing a rise of about 2.42%[21] - The company's equity attributable to shareholders decreased to ¥294,207,395.41 from ¥342,998,882.45, a decline of approximately 14.26%[21] Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥75,411,853.86, an increase of 19.56% compared to the previous year[9] - Operating cash flow net amount increased to ¥75,411,853.86 from ¥63,071,990.33, an increase of approximately 19%[28] - Cash and cash equivalents decreased to ¥128,975,832.88 from ¥149,518,040.96, representing a decline of about 13.73%[19] - Cash and cash equivalents at the end of the period decreased to ¥128,964,832.88 from ¥176,467,322.01, a decline of about 27%[29] - Investment activities resulted in a net cash flow of -¥88,810,515.70, worsening from -¥59,371,258.67[28] - Financing activities generated a net cash flow of -¥7,143,546.24, compared to a positive cash flow of ¥40,774,022.37 in the previous period[29] Shareholder Information - The total number of common shareholders at the end of the reporting period is 24,916[11] - The top 10 shareholders hold a total of 56,000,000 shares, with Zhao Qun and Huang Lequn each holding 6.16% of the shares[11] - Zhao Qun has 15,781,792 shares, of which 11,836,344 are subject to lock-up restrictions[13] - The total number of restricted shares at the end of the reporting period is 30,424,393, with 9,439,925 shares added during the period[14] - The company has a stock incentive plan that allows for 25% of restricted shares to be unlocked annually starting in 2024[13] - The company held a board meeting to approve the 2025 stock incentive plan and related amendments[15] - The company has 204 core technical and key personnel with a total of 10,400,000 restricted shares under the incentive plan[14] - The top shareholder, Zhao Qun, has a total of 10,276,419 restricted shares at the beginning of the period[13] - The company has not disclosed any related party relationships among the top shareholders[11] Expenses and Costs - Financial expenses for the year-to-date were ¥17,522,800.00, an increase of 50.80% compared to the same period last year, mainly due to higher bank loan interest[9] - The company reported a decrease in other income by 62.88% year-on-year, amounting to ¥3,433,400.00, primarily due to reduced government subsidies received[9] - Total operating costs decreased from ¥563,187,725.70 to ¥552,167,468.27, a reduction of approximately 1.8%[24] - The company reported a tax expense of ¥28,898,536.63, significantly higher than ¥6,248,808.45 in the previous period[24] Other Information - The balance of construction in progress increased by 149.71% year-on-year, reaching ¥38,165,100.00, due to new factory renovation projects[8] - The balance of prepaid expenses increased by 51.33% year-on-year, totaling ¥4,323,600.00, primarily due to increased advance payments for goods[8] - The company's independent director Gao Hao resigned during the reporting period[15]