深圳市有方科技股份有限公司 2025 年第三季度报告 证券代码：688159 证券简称：有方科技 深圳市有方科技股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、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。 深圳市有方科技股份有限公司 2025 年第三季度报告 | 稀释每股收益（元/股） | 0.21 | | 50.00 | 0.90 | | -7.22 | | --- | --- | --- | --- | --- | --- | --- | | 加权平均净资产收益率 | 2.12 | 增加 0.48 | 个 | 9.25 | 减少 | 个百 2.77 | | （%） | | | 百分点 | | | 分点 | | 研发投入合计 | 19,767,808.94 | | -7.66 | 66,953,725.88 | | -8.38 | | 研发投入占营业收入的 | 3 ...

湖北华强科技股份有限公司 2025 年第三季度报告 证券代码：688151 证券简称：华强科技 湖北华强科技股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、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。 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）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 单位：元 币种：人民币 √适用 □不适用 单位:元 币种:人民币 | 非经常性损益项目 | 本期金额 | 年初至报告期末 | 说明 | | --- | --- | --- | --- | | | | 金额 | | | 非流动性资产处置损益，包括已计提资产减值准备 | | -20,060.61 | | | 的冲销部分 | | | | | 计入当期损益的政府补助，但与公司正常经 ...

Financial Performance - The company's operating revenue for the third quarter was ¥496,760,398.18, representing a year-on-year increase of 10.20%[4] - The total profit for the third quarter was a loss of ¥45,451,649.43, with a year-to-date total profit loss of ¥19,250,247.31[4] - The net profit attributable to shareholders for the third quarter was a loss of ¥33,048,851.84, with a year-to-date loss of ¥10,965,435.90[4] - The basic earnings per share for the third quarter was -¥0.09, compared to -¥0.03 for the same period last year[5] - The total operating revenue for the first three quarters of 2025 was approximately ¥1.64 billion, an increase of 11.7% compared to ¥1.47 billion in the same period of 2024[29] - The net profit for the first three quarters of 2025 was approximately -¥14.52 million, an improvement from -¥35.47 million in the same period of 2024, indicating a reduction in losses by 59.0%[30] - The company's total comprehensive income for the first three quarters of 2025 was -¥14.52 million, compared to -¥35.47 million in 2024, marking a significant improvement in overall financial performance[30] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,720,704,029.84, an increase of 2.11% compared to the end of the previous year[5] - Current assets totaled ¥1,653,929,010.45 as of September 30, 2025, compared to ¥1,581,784,321.03 at the end of 2024, reflecting a growth of 4.56%[24] - Inventory increased significantly to ¥1,083,894,514.45 in 2025 from ¥740,809,681.23 in 2024, marking a rise of 46.24%[24] - Total liabilities amounted to ¥880,557,789.78 in 2025, compared to ¥770,952,993.38 in 2024, which is an increase of 14.19%[25] - The company's cash and cash equivalents decreased to ¥156,712,575.89 in 2025 from ¥270,387,544.19 in 2024, a decline of 42.00%[23] Revenue Sources - The total operating revenue for the first nine months of 2025 reached RMB 162,838.95 million, representing a year-on-year increase of 12.04%[20] - Online sales accounted for 59.31% of total revenue, with online sales revenue of RMB 96,582.16 million, up from RMB 85,469.05 million in the same period last year[20] - The revenue from e-commerce services was RMB 60,034.25 million, contributing significantly to the overall revenue growth[16] - The Northeast region saw a revenue increase of 47.23% year-on-year, reaching RMB 12,937.52 million[19] Operating Costs and Expenses - The total operating cost for the first nine months was RMB 85,188.18 million, which is an increase of 11.52% year-on-year[20] - Total operating costs for the first three quarters of 2025 were approximately ¥1.59 billion, up from ¥1.47 billion in 2024, reflecting a year-over-year increase of 8.1%[29] - The company experienced a decrease in sales expenses, which were approximately ¥523.53 million in 2025 compared to ¥481.05 million in 2024, reflecting a year-over-year increase of 8.8%[29] - Research and development expenses decreased to approximately ¥30.05 million in 2025 from ¥34.18 million in 2024, indicating a reduction of 11.8%[29] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 25,273[10] - The equity attributable to shareholders at the end of the reporting period was ¥1,811,890,339.75, a decrease of 2.68% compared to the end of the previous year[5] - The company's equity attributable to shareholders decreased to ¥1,811,890,339.75 in 2025 from ¥1,861,766,185.42 in 2024, a decline of 2.68%[25] Store Operations - The number of direct-operated stores increased from 571 at the beginning of the year to 648 by the end of September 2025, with 145 new stores opened[13] - The company plans to expand its store network, with a target of 150 direct-operated stores by the end of 2025[13] Non-Recurring Items - The company reported non-recurring gains and losses totaling ¥4,967,617.13 for the current period[7] - The company reported a net cash outflow from investing activities of approximately ¥104.82 million in 2025, a significant improvement from a net outflow of -¥139.04 million in 2024[34]

广东粤海饲料集团股份有限公司 2025 年第三季度报告 证券代码：001313 证券简称：粤海饲料 公告编号：2025-092 广东粤海饲料集团股份有限公司 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 一、主要财务数据 （一） 主要会计数据和财务指标 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 | 年初至报告期末 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 期增减 | | 比上年同期增减 | | 营业收入（元） | 2,328,852,698.86 | 11.38% | 4,996,780,385.95 | ...

Financial Performance - The company's operating revenue for Q3 2025 reached ¥2,136,899,369.95, representing a year-on-year increase of 23.87%[3] - The net profit attributable to shareholders for the same period was ¥263,765,564.87, up 11.92% compared to the previous year[3] - The net profit after deducting non-recurring gains and losses was ¥258,120,396.78, reflecting a 13.75% increase year-on-year[3] - The net profit for the current period is 883,303,509.40, an increase from 709,242,581.34 in the previous period, representing a growth of approximately 24.5%[26] - Operating profit for the current period reached 1,037,089,313.12, compared to 811,976,792.83 in the previous period, indicating an increase of approximately 27.7%[25] - Total comprehensive income for the current period is 853,466,647.33, up from 698,491,369.49, marking a growth of around 22.2%[26] - Basic and diluted earnings per share increased to 0.6590 from 0.5200, representing a rise of approximately 26.7%[26] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥11,698,651,067.93, an increase of 13.96% from the end of the previous year[4] - The total assets of the company reached ¥11,698,651,067.93, up from ¥10,265,362,143.33, indicating a growth of 13.9%[22] - The total liabilities increased to ¥5,232,957,152.03 from ¥4,137,035,609.92, reflecting a rise of 26.5%[22] - The company's equity attributable to shareholders increased by 11.54% to ¥6,173,519,369.35 compared to the previous year[4] - The equity attributable to the parent company increased to ¥6,173,519,369.35 from ¥5,534,803,254.52, a growth of 11.6%[22] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥624,581,072.51, an increase of 13.80% compared to the previous year[3] - Cash flow from operating activities generated a net amount of 624,581,072.51, compared to 548,818,875.02 in the previous period, showing an increase of about 13.8%[29] - The net cash flow from investing activities decreased by 14,459.43 thousand yuan, a decline of 25.87% compared to the same period last year, primarily due to increased cash payments for fixed assets, intangible assets, and other long-term assets[13] - Cash flow from investing activities resulted in a net outflow of -703,591,016.69, worsening from -558,996,742.41 in the previous period[30] - The net cash flow from financing activities increased by 20,119.88 thousand yuan, representing a growth of 137.58% year-over-year, mainly due to funds received from the employee stock ownership plan and reduced cash payments for debt repayment[13] - Cash flow from financing activities yielded a net inflow of 54,957,356.46, a recovery from a net outflow of -146,241,372.67 in the previous period[30] Expenses and Costs - The gross profit margin for the reporting period was 32.08%, slightly down from 32.84% in the previous year[10] - Total operating costs amounted to ¥5,049,113,155.09, up from ¥4,049,224,070.80, reflecting a year-over-year increase of 24.7%[24] - Research and development expenses rose by 26.86% to ¥32,568,760.00, primarily due to increased employee compensation and material costs[10] - Research and development expenses increased to 325,687,560.30 from 256,721,320.26, reflecting a rise of about 26.8%[25] - Tax expenses for the current period were 152,782,760.51, up from 103,101,833.69, indicating an increase of about 48.2%[25] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 203,344[15] Inventory and Borrowings - The company reported a significant increase in inventory, which rose by 31.64% to ¥1,139,055,200.00, driven by increased demand and unfulfilled orders[8] - Short-term borrowings increased by 76.88% to ¥607,807,200.00, primarily due to new short-term loans taken during the reporting period[8] - Accounts receivable increased to ¥2,755,800,865.68, compared to ¥2,489,745,112.23, representing a growth of 10.7%[20] - Inventory rose significantly to ¥1,139,055,150.76 from ¥865,307,210.98, marking a 31.6% increase[20] Future Plans - The company plans to issue H shares and apply for listing on the Hong Kong Stock Exchange, with the application materials submitted to regulatory authorities[18] - The company sold 4,552,200 shares of Shuguang Cable during the reporting period, resulting in no remaining holdings in that stock[17]

Revenue and Profit - Q3 2025 revenue reached ¥3,081,293,051.08, a year-on-year increase of 1.21%[5] - Net profit attributable to shareholders decreased by 60.12% to ¥88,860,133.94 in Q3 2025[5] - Year-to-date net profit attributable to shareholders fell by 21.92% to ¥471,336,573.78[5] - Total revenue for the current period reached ¥9,544,256,885.58, an increase of 2.87% compared to ¥9,277,585,611.23 in the previous period[18] - Net profit for the current period was ¥482,373,364.99, a decrease of 23.5% from ¥631,311,957.16 in the previous period[19] - The total comprehensive income for the current period was ¥482,997,601.89, down from ¥631,311,957.16, a decrease of 23.5%[19] - Basic and diluted earnings per share for the current period are both 0.15, down from 0.19 in the previous period[20] Cash Flow - Cash flow from operating activities showed a significant decline, totaling -¥1,876,927,763.95, a decrease of 1,847.38%[5] - Net cash flow from operating activities decreased by 1847.38% year-on-year to -¥1,876,927,763.95, primarily due to investments in business expansion[10] - Cash inflow from operating activities totaled approximately ¥10.50 billion, an increase from ¥9.66 billion in the previous period, while cash outflow was ¥12.37 billion, leading to a net cash flow of -¥1.88 billion[20] - Total cash outflow for operating activities increased significantly to approximately ¥12.37 billion from ¥9.75 billion in the previous period[21] Investment Activities - Cash inflow from investment activities increased by 43.89% year-on-year to ¥8,820,877,178.81, mainly from investments in bank wealth management products[10] - Cash outflow from investment activities rose by 52.06% year-on-year to ¥10,211,921,159.15, also due to investments in bank wealth management products[10] - Net cash flow from investment activities was -¥1,391,043,980.34, reflecting a significant increase in outflows compared to the previous year[10] - Cash inflow from investment activities was approximately ¥8.82 billion, compared to ¥6.13 billion in the previous period, with a net cash flow of -¥1.39 billion[21] - The company’s cash flow from investment activities included approximately ¥8.71 billion from other investment-related cash receipts, compared to ¥5.65 billion in the previous period[21] Financing Activities - Cash inflow from financing activities increased by 83.28% year-on-year to ¥2,781,648,462.20, primarily due to increased bank borrowings[10] - Cash outflow from financing activities decreased by 37.40% year-on-year to ¥1,112,568,843.47, mainly due to reduced bank loan repayments[10] - Cash inflow from financing activities amounted to approximately ¥2.78 billion, up from ¥1.52 billion in the previous period, resulting in a net cash flow of approximately ¥1.67 billion[21] - The company’s cash flow from financing activities included approximately ¥2.55 billion from loans received, compared to ¥1.12 billion in the previous period[21] Assets and Liabilities - Total assets increased by 12.52% to ¥33,346,935,122.43 compared to the end of the previous year[5] - The company's total assets increased to ¥33,346,935,122.43, compared to ¥29,636,330,337.87 in the previous period, marking a growth of 12.5%[17] - Total liabilities rose to ¥15,573,264,007.89, up from ¥11,664,366,182.60, indicating a significant increase of 33.3%[17] - The company's equity attributable to shareholders decreased to ¥17,345,057,762.16 from ¥17,519,445,625.13, a decline of 0.99%[17] Expenses - Operating expenses decreased by 40.21% year-on-year to ¥26,466,381.37, mainly due to a reduction in asset write-offs and compensation payments[10] - Financial expenses increased by 62.27% to ¥96,166,061.94, mainly due to higher borrowing costs[9] - Income tax expenses surged by 162.98% year-on-year to ¥145,277,867.02, attributed to increased income tax payments during the period[10] - Research and development expenses were ¥198,774,181.55, down from ¥223,810,550.39, reflecting a decrease of 11.2%[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,043, with the largest shareholder holding 32.14% of the shares[11] Credit and Impairment - The company reported a credit impairment loss of ¥169,196,233.29, compared to ¥160,310,991.47 in the previous period, indicating a slight increase in credit losses[19] Lease Liabilities - The company reported a significant increase in lease liabilities, which rose by 28,483.65% to ¥2,238,348,392.47, attributed to the addition of leased equipment[9] Borrowings - Long-term borrowings increased significantly to ¥3,625,034,998.34 from ¥1,987,236,842.43, representing an increase of 82.5%[17] - Short-term borrowings rose by 295.14% to ¥449,267,891.66, reflecting increased bank loans[9]

Revenue and Profit - Revenue for Q3 2025 was CNY 9,122,011,439.99, a decrease of 20.84% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 420,132,626.97, down 52.24% year-on-year[5] - Basic earnings per share decreased by 52.24% to CNY 0.0740[5] - Total operating revenue decreased to ¥27.18 billion from ¥33.09 billion, a decline of approximately 17.7% year-over-year[22] - Net profit for the period was ¥1.93 billion, down from ¥3.57 billion, representing a decline of approximately 46% year-over-year[22] - Operating profit decreased to ¥2.78 billion from ¥4.65 billion, a drop of around 40.2% year-over-year[23] - Net profit attributable to the parent company shareholders for the current period is ¥1,433,828,358.04, a decrease from ¥2,845,853,393.01 in the previous period, representing a decline of approximately 49.7%[24] - The total comprehensive income for the current period is ¥1,929,632,512.81, down from ¥3,568,808,274.09, indicating a decrease of about 46%[24] - Basic and diluted earnings per share for the current period are both ¥0.2526, compared to ¥0.5013 in the previous period, reflecting a decline of approximately 49.7%[24] Assets and Liabilities - Total assets at the end of Q3 2025 were CNY 109,390,908,609.88, a decrease of 0.51% from the end of the previous year[5] - The total assets amounted to ¥109.39 billion, slightly down from ¥109.95 billion[20] - Total liabilities decreased to ¥61.65 billion from ¥63.08 billion, a reduction of approximately 2.3%[20] Cash Flow - Cash flow from operating activities increased by 72.67% to CNY 4,443,680,534.10 year-to-date[5] - Cash flow from operating activities for the current period is ¥4,443,680,534.10, an increase from ¥2,573,581,956.00 in the previous period, showing a growth of about 72.7%[26] - Cash inflow from investment activities is ¥16,464,412.48, significantly lower than ¥213,227,399.10 in the previous period, indicating a decrease of approximately 92.3%[26] - Cash flow from financing activities shows a net outflow of ¥2,328,955,132.17, an improvement compared to a net outflow of ¥6,466,919,683.62 in the previous period[26] - The net increase in cash and cash equivalents for the current period is ¥905,967,740.14, contrasting with a net decrease of ¥5,062,555,870.96 in the previous period[27] - The ending balance of cash and cash equivalents is ¥9,204,472,103.78, down from ¥11,766,592,728.32 in the previous period[27] - The company received cash from sales of goods and services amounting to ¥32,963,384,048.69, a decrease from ¥36,080,908,841.17 in the previous period, representing a decline of approximately 5.8%[25] Shareholder Information - The total number of common shareholders at the end of the reporting period is 170,570[15] - Shanxi Coking Coal Group holds 57.29% of shares, totaling 3,252,317,230 shares, with 411,979,313 shares pledged[15] - The second largest shareholder is China Industrial and Commercial Bank, holding 1.98% of shares, totaling 112,587,902 shares[15] Receivables and Expenses - Accounts receivable increased by 63.38% to CNY 318,855,000 from the end of 2024[11] - Other receivables rose by 116.11% to CNY 39,080,000 compared to the end of 2024[11] - Financial expenses increased by 76.88% to CNY 78,046,000 due to financing interest expenses[13] - Operating profit decreased by 40.16% to CNY 278,491,000, primarily due to a decline in coal product prices[13] - Total profit decreased by 41.89% to CNY 274,094,000, reflecting the impact of lower coal prices[13] - Research and development expenses were ¥604.68 million, down from ¥747.43 million, indicating a reduction of about 19.1% year-over-year[23] Future Plans - The company plans to focus on market expansion and new product development in the upcoming quarters[20] Audit Status - The company has not undergone an audit for the third quarter financial report[28]

Financial Performance - The company's operating revenue for Q3 2025 was ¥210,557,932.40, representing a 2.08% increase year-over-year[5] - The net profit attributable to shareholders was -¥18,926,882.40, a decrease of 42.50% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥9,888,876.04, an increase of 30.53% year-over-year[5] - Total operating revenue for the current period reached ¥628,279,137.39, an increase from ¥600,025,805.16 in the previous period, representing a growth of approximately 4.2%[23] - Net profit for the current period was ¥6,292,463.82, compared to ¥4,420,550.07 in the previous period, reflecting a significant increase of approximately 42.4%[24] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,004,844,983.48, a decrease of 2.53% from the end of the previous year[5] - The company's total assets decreased to ¥2,004,844,983.48 from ¥2,056,863,377.12, a decline of about 2.5%[21] - Total liabilities decreased to ¥359,971,999.14 from ¥412,122,143.29, showing a reduction of approximately 12.6%[21] Cash Flow - The cash flow from operating activities for the year-to-date was -¥127,608,831.12, a decrease of 23.57% year-over-year[5] - Cash inflow from operating activities totaled CNY 562,353,033.13, down 8.4% from CNY 613,831,428.75 in the prior period[25] - Cash outflow from operating activities was CNY 689,961,864.25, a decrease of 11.6% compared to CNY 780,803,062.60 last year[25] - The net cash flow from operating activities was CNY -127,608,831.12, an improvement from CNY -166,971,633.85 in the previous period[25] - Cash inflow from investment activities was CNY 40,674,160.98, down 63.8% from CNY 112,431,713.25 in the prior period[26] - The net cash flow from investment activities was CNY 29,861,937.93, a decrease of 50.2% compared to CNY 60,019,617.46 last year[26] - Cash outflow from financing activities was CNY 1,777,242.54, a reduction of 54.5% from CNY 3,906,588.93 in the previous period[26] - The ending cash and cash equivalents balance was CNY 356,951,325.56, slightly up from CNY 352,567,771.96 in the prior period[26] Shareholder Information - The total number of common shareholders at the end of the reporting period is 20,149[13] - The largest shareholder, Hebei Zhixin Daneng New Energy Technology Co., Ltd., holds 12.94% of shares, totaling 69,455,843 shares[13] - The second-largest shareholder, Cui Fenghua, holds 2.13% of shares, totaling 11,409,877 shares[13] - The total number of shares held by the top 10 unrestricted shareholders is 69,455,843 shares for Hebei Zhixin Daneng New Energy Technology Co., Ltd.[13] Expenses - Research and development expenses for the current period were ¥40,428,409.82, down from ¥45,842,857.42, indicating a decrease of about 11.1%[24] - The company reported a significant increase in sales expenses, which rose to ¥73,566,946.36 from ¥64,933,011.73, an increase of approximately 13.5%[24] Other Financial Metrics - The weighted average return on net assets was -1.15%, a decrease of 0.46% compared to the same period last year[5] - The company experienced a 33.56% increase in credit impairment losses, totaling -¥32,979,155.26, due to increased provisions for bad debts[11] - The cash paid for various taxes increased by 32.84% to ¥50,075,866.76, attributed to higher corporate income tax and VAT payments[12] - The company reported a significant increase in deferred income by 141.15% due to increased government subsidies received[10] - Investment income for the first nine months of 2025 was -¥9,177,637.98, a decrease of 800.92% compared to the same period last year[11] - The company experienced a net investment loss of ¥9,177,637.98, contrasting with a gain of ¥1,309,375.25 in the previous period, highlighting a significant decline in investment performance[24] Miscellaneous - The company plans to correct prior accounting errors affecting financial statements from 2021 to 2022, as approved in a board meeting[17] - The third quarter financial report was not audited[27] - The company has no preferred shareholders or related information to report[14] - The company has not disclosed any changes in the top 10 shareholders due to margin trading activities[13] - The company has a total of 9,804,565 shares under lock-up agreements, with 6,548,104 shares remaining locked due to executive restrictions[16] - Basic and diluted earnings per share remained stable at CNY 0.01 for the current and previous periods[25] - The total comprehensive income attributable to minority shareholders was CNY 702,790.60, a decrease from CNY -1,139,664.27 in the previous period[25]

Financial Performance - The company's operating revenue for the third quarter was ¥45,664,690.72, a decrease of 5.31% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥5,122,026.98, representing a decline of 158.58% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥5,400,014.55, down 164.87% from the previous year[5]. - Basic earnings per share were -¥0.0297, a decrease of 158.58% year-on-year[8]. - Net profit for the current period was ¥16,865,711.36, a decrease of 44.9% from ¥30,603,144.22 in the previous period[20]. - Earnings per share (EPS) for the current period were ¥0.0994, down from ¥0.1754 in the prior period[20]. Expenses - Management expenses increased by 23.27% to ¥12,980,100.00, primarily due to new equity incentive expenses[8]. - R&D expenses rose by 51.79% to ¥18,263,500.00, reflecting increased investment in R&D and higher personnel costs[8]. - Total operating costs amounted to ¥239,929,782.46, up 28.2% from ¥187,138,809.13 in the prior period[19]. - The company reported a financial expense of -¥10,820,977.08, an improvement from -¥15,694,358.75 in the prior period[19]. - The company experienced a credit impairment loss of -¥16,945,583.43, compared to -¥13,846,774.87 in the previous period, indicating a worsening of 22.7%[19]. Cash Flow - The net cash flow from operating activities was -¥29,117,480.44, an increase of 44.23% compared to the same period last year[8]. - Operating cash flow for the current period was -29,117,480.44 CNY, an improvement from -52,210,320.63 CNY in the previous period, indicating a reduction in cash outflow[22]. - Total cash inflow from investment activities significantly increased to 407,831,745.74 CNY, compared to 67,205,548.26 CNY in the prior period, reflecting a strong investment recovery[22]. - Net cash flow from financing activities was -10,947,129.18 CNY, an improvement from -38,281,587.21 CNY year-over-year, suggesting better management of financing costs[23]. - The net increase in cash and cash equivalents for the current period was 344,206,069.29 CNY, contrasting with a decrease of -31,172,623.14 CNY in the previous period, indicating a positive cash position[23]. - Cash received from sales of goods and services was 285,765,649.39 CNY, a significant increase from 173,215,761.75 CNY, reflecting strong revenue growth[22]. - Total cash outflow from operating activities was 332,297,857.38 CNY, compared to 260,425,387.55 CNY in the previous period, indicating increased operational expenses[22]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,877,906,640.00, an increase of 4.75% from the end of the previous year[5]. - Total assets increased to ¥1,877,906,640.00, compared to ¥1,792,725,866.86 in the previous period, reflecting a growth of 4.7%[17]. - Total liabilities rose to ¥412,392,366.00, up from ¥334,433,949.20, marking a 23.3% increase[17]. - Shareholders' equity totaled ¥1,465,514,274.00, slightly up from ¥1,458,291,917.66, indicating a growth of 0.2%[17]. - The company’s cash and cash equivalents decreased to ¥927,725,413.19 from ¥989,401,003.86, a decline of approximately 6.7%[15]. - Accounts receivable increased to ¥462,129,323.29 from ¥423,599,549.93, representing an increase of about 9.1%[15]. - Inventory rose to ¥225,688,446.27 from ¥158,579,865.14, marking an increase of approximately 42.3%[15]. - Total current assets at the end of the period amounted to ¥1,661,981,585.68, up from ¥1,604,198,847.58, an increase of about 3.6%[15]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 17,245[11]. - The largest shareholder, Zeng Lijun, holds 32.61% of shares, totaling 56,252,000 shares[11]. - The total number of restricted shares at the end of the period is 73,713,920, with 21,061,120 shares newly restricted[12]. - The company has no preferred shareholders or changes in preferred shareholder structure during the reporting period[12]. Other Information - The company received government subsidies amounting to ¥322,000.00 during the reporting period[6]. - The company did not execute any new accounting standards for the current reporting period, maintaining consistency in financial reporting[24]. - The third quarter financial report was not audited, which may affect the reliability of the reported figures[24].

Revenue and Profitability - Revenue for Q3 2025 reached ¥131,106,843.50, an increase of 86.92% compared to the same period last year[5] - Net profit attributable to shareholders was -¥19,517,108.33, a decrease of 50.27% year-on-year[5] - Operating revenue for the first nine months of 2025 reached ¥304,606,055.23, a 72.72% increase compared to ¥176,360,265.61 in the same period of 2024[9] - Total operating revenue for the current period reached ¥304,606,055.23, a significant increase from ¥176,360,265.61 in the previous period, representing a growth of approximately 72.6%[18] - The net profit for the current period is -69,124,253.70, compared to -100,741,930.81 in the previous period, showing an improvement of approximately 31.4%[20] - The total comprehensive income for the current period is -63,380,803.70, compared to -100,741,930.81 in the previous period, indicating a reduction in losses[20] Cash Flow and Investments - The company reported a net cash flow from operating activities of -¥141,525,978.01, a decline of 37.32% compared to the previous year[5] - Net cash flow from operating activities improved by 37.32%, amounting to -¥141,525,978.01, compared to -¥225,808,193.82 in the previous year[9] - Investment activities generated a net cash flow of -¥645,636,116.68, a significant decline of 242.88% from -¥188,295,907.97 in the prior year[9] - Cash inflow from operating activities increased to 306,697,247.70 from 205,464,763.98 year-over-year[21] - Cash outflow from operating activities rose slightly to 448,223,225.71 from 431,272,957.80 year-over-year[21] - Investment activities resulted in a net cash outflow of -645,636,116.68, compared to -188,295,907.97 in the previous period, indicating increased investment expenditures[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,862,992,507.44, reflecting a growth of 5.61% from the end of the previous year[5] - Total liabilities rose to ¥1,483,823,584.57 from ¥1,249,489,843.08, an increase of approximately 18.7%[16] - The total current assets increased to ¥3,005,365,055.86 from ¥2,814,522,430.12, reflecting a growth of approximately 6.8%[14] - The company's equity attributable to shareholders decreased to ¥2,335,298,281.17 from ¥2,373,511,806.41, a decline of about 1.6%[16] Expenses and Financial Performance - Operating costs increased by 161.59% to ¥179,995,750.33, driven by the growth in operating revenue[9] - Total operating costs amounted to ¥388,423,038.26, up from ¥264,970,263.00, indicating an increase of about 46.5%[18] - Financial expenses decreased by 40.34% to -¥17,905,894.11, primarily due to reduced interest income from deposits[9] - Research and development expenses were ¥149,935,108.20, slightly decreased from ¥160,250,865.50, reflecting a reduction of approximately 6.9%[18] - The company recorded a tax expense of -39,973,837.63, compared to -37,060,008.88 in the previous period, indicating a slight increase in tax liabilities[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 63,751, with the largest shareholder holding 17.76% of the shares[11] - The company reported a basic and diluted earnings per share of -0.0767, an improvement from -0.1454 in the previous period[20] - The company’s basic and diluted earnings per share were both -¥0.0311, a decrease of 50.24% year-on-year[5] Inventory and Financial Assets - Cash and cash equivalents decreased by 52.98% to ¥634,323,691.51 due to investments in financial products[8] - Trade financial assets increased by 899.05% to ¥660,202,567.40, attributed to the use of idle funds for investments[8] - Inventory rose by 42.44% to ¥525,444,588.88, driven by increased raw material and finished goods reserves[8] - Accounts receivable increased to ¥1,013,001,332.01 from ¥917,271,778.49, representing a growth of about 10.4%[14]