嘉和美康（北京）科技股份有限公司 2025 年第三季度报告 证券代码：688246 证券简称：嘉和美康 嘉和美康（北京）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： 公司董事会及董事、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 | | | 本报告期比 | | 年初至报告期 末比上年同期 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期增 | 年初至报告期末 | | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 111,169,900.68 | -36.57 ...

Financial Performance - The company's operating revenue for the third quarter was CNY 1,040,036.96, a decrease of 56.95% compared to the same period last year[3]. - Year-to-date operating revenue reached CNY 5,440,280.55, down 63.70% year-on-year[3]. - Net profit attributable to shareholders was CNY 1,027,066.50 for the third quarter, with a significant increase of 448.84% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 68,794.17, a decrease of 231.31% year-on-year[3]. - The basic earnings per share for the year-to-date period was CNY 0.0032, an increase of 433.33% year-on-year[3]. - The weighted average return on net assets was 2.68%, an increase of 4.14 percentage points compared to the previous year[3]. - The net profit for the first three quarters of 2025 reached CNY 241,063.95, a significant recovery from a net loss of CNY 783,072.18 in the same period of 2024[25]. - The company reported a basic earnings per share of CNY 0.0032 for the first three quarters of 2025, compared to CNY 0.0006 in the same period of 2024[25]. - The net profit for the first three quarters of 2025 reached CNY 2,065,340.41, an increase of 80% from CNY 1,149,216.66 in the first three quarters of 2024[36]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period was CNY 63,530,296.63, an increase of 1,081.48% year-on-year[3]. - The cash and cash equivalents as of September 30, 2025, were CNY 88,360,819.43, compared to CNY 27,191,426.46 at the end of 2024[20]. - The total assets at the end of the reporting period were CNY 119,236,792.92, a decrease of 4.28% from the end of the previous year[4]. - The total assets as of September 30, 2025, were CNY 119,236,792.92, down from CNY 124,562,766.40 at the end of 2024[22]. - The total equity attributable to shareholders as of September 30, 2025, was CNY 38,887,797.17, compared to CNY 37,825,808.81 at the end of 2024[23]. - The cash and cash equivalents at the end of September 2025 were CNY 88,259,611.41, up from CNY 21,519,596.56 at the end of 2024[26]. - The company’s cash inflow from operating activities totaled CNY 71,802,559.37 in the first three quarters of 2025, down from CNY 289,522,678.93 in 2024[26]. - The total liabilities decreased to CNY 93,672,655.49 in 2025 from CNY 99,208,611.63 in 2024, reflecting a reduction of approximately 5.2%[32]. - The total equity increased to CNY 39,813,527.27 in 2025 from CNY 37,748,186.86 in 2024, marking an increase of about 5.6%[32]. Shareholder Information - Shareholders' equity attributable to the company was CNY 38,887,797.17, an increase of 2.81% compared to the end of the previous year[4]. - The company holds a total of 11,676,000 ordinary shares at the end of the reporting period[11]. - The largest shareholder, Kunming Transportation Investment Group, owns 39,486,311 shares, representing 12.01% of the total share capital[12]. - Kunming Industrial Development Investment holds 20,785,371 shares, accounting for 6.32% of the total[12]. Legal and Debt Issues - The company is in the process of transferring all debts owed to it by Nanjing Swit Group to eliminate potential risks associated with historical debts[13]. - The transfer of 39,486,311 shares by the controlling shareholder at a price of 4.38 RMB per share is pending due to judicial freezes on the shares[15]. - The company is involved in litigation regarding a contract dispute with Hong Kong Petrochemical, which has been placed under compulsory liquidation[17]. - The estimated recovery rate for unsecured creditors from Hong Kong Petrochemical's restructuring plan is approximately 10.1%[17]. - The company has received a court ruling requiring a third party to repay debts totaling approximately $3.32 million and 3.31 million RMB[18]. - The company plans to expedite the resolution of historical debt issues with Nanjing Swit Group[13]. Operational Adjustments - The decline in operating revenue was primarily due to adjustments in the company's business structure, particularly in the chemical products and agricultural products trading sectors[8]. - The company has made a provision for bad debts amounting to 89.9% for the advance payments to Hong Kong Petrochemical[19]. - The company is monitoring the progress of the disposal of its stakes in Hong Kong Petrochemical and Shanghai Xiangdao Petrochemical Technology Co., with potential impacts on future profits remaining uncertain[19]. Cost Management - The total operating costs for the first three quarters of 2025 were CNY 6,644,349.10, down 58.3% from CNY 15,926,703.38 in the previous year[24]. - The operating cost for the first three quarters of 2025 was CNY 594,404.77, a significant drop of 93.3% from CNY 8,807,999.26 in the same period of 2024[24]. - The financial expenses for the first three quarters of 2025 amounted to CNY 1,806,714.81, a decrease of 10.3% compared to CNY 2,014,932.51 in 2024[24]. - The company reported a significant reduction in sales expenses, which fell to CNY 199,280.29 in 2025 from CNY 551,335.14 in 2024, a decrease of approximately 63.8%[35]. - The financial expenses decreased to CNY 1,756,830.24 in 2025 from CNY 1,969,679.17 in 2024, a reduction of about 10.8%[35]. Accounting Practices - The company has not applied new accounting standards for the year 2025, indicating stability in financial reporting practices[38].

Financial Performance - The company's operating revenue for the third quarter reached ¥5,978,246,941.67, an increase of 62.77% compared to the same period last year[5] - The total profit for the quarter was ¥272,120,904.88, reflecting a growth of 16.28% year-on-year[5] - Net profit attributable to shareholders was ¥225,088,302.93, up by 12.89% compared to the previous year[5] - The basic earnings per share for the quarter was ¥0.09, representing a 28.57% increase year-on-year[6] - Total operating revenue for the first three quarters of 2025 was CNY 20,606,584,010.27, a decrease of 18.5% compared to CNY 25,297,530,211.78 in the same period of 2024[21] - Net profit for the first three quarters of 2025 was CNY 1,368,649,563.80, a decline of 24.3% from CNY 1,807,146,895.15 in 2024[22] - Earnings per share for the first three quarters of 2025 were CNY 0.50, compared to CNY 0.66 in the same period of 2024[23] - The company reported a total comprehensive income of CNY 1,371,192,969.24 for the first three quarters of 2025, down from CNY 1,792,935,658.74 in 2024[23] - The total profit for the first three quarters of 2025 was CNY 1,365,607,008.66, compared to CNY 1,351,810,983.86 in 2024, indicating a growth of about 1.3%[32] Assets and Liabilities - The total assets at the end of the quarter amounted to ¥63,789,588,473.36, a 3.57% increase from the end of the previous year[6] - Total assets as of September 30, 2025, amounted to RMB 63.79 billion, an increase from RMB 61.59 billion as of December 31, 2024, reflecting a growth of approximately 3.57%[16] - Current assets totaled RMB 51.13 billion, compared to RMB 50.02 billion in the previous year, indicating a year-over-year increase of about 2.22%[16] - Total liabilities increased to RMB 51.13 billion from RMB 49.02 billion, reflecting a growth of about 4.30%[16] - Total liabilities as of the end of the reporting period amounted to CNY 39,933,006,924.83, a decrease from CNY 42,538,994,447.63 in the previous year[18] - The company's total liabilities decreased to CNY 155.70 million as of September 30, 2025, from CNY 641.05 million at the end of 2024[29] Shareholder Information - The number of common shareholders at the end of the reporting period was 100,034, indicating a stable shareholder base[13] - The largest shareholder, China Aviation Industry Corporation, holds 64.07% of the shares, totaling 1,816,336,215 shares[14] Cash Flow and Investments - Cash flow from operating activities showed a net outflow of ¥2,169,852,179.56 for the year-to-date period[6] - Cash inflow from operating activities for the first three quarters of 2025 reached CNY 26.17 billion, a 50.5% increase from CNY 17.36 billion in the same period of 2024[26] - Net cash flow from operating activities was negative CNY 2.17 billion, an improvement compared to negative CNY 5.89 billion in the first three quarters of 2024[27] - The company reported a net cash outflow from investing activities of CNY 1.03 billion in the first three quarters of 2025, contrasting with a net inflow of CNY 78.86 million in the same period of 2024[27] - Cash inflow from financing activities was CNY 4.27 billion in the first three quarters of 2025, significantly higher than CNY 450 million in the same period of 2024[27] Research and Development - Research and development expenses decreased by 59.51% year-on-year, amounting to a reduction of ¥35,417,680[11] - Research and development expenses for the first three quarters of 2025 were CNY 241,019,018.38, significantly lower than CNY 595,195,789.52 in 2024, indicating a reduction in investment in this area[21] Other Financial Metrics - The company reported a significant increase in contract liabilities by 60.20%, totaling an increase of ¥212,384,180[11] - The company reported a significant increase in contract liabilities, which rose to RMB 5.65 billion from RMB 3.53 billion, marking an increase of approximately 60.25%[16] - The company's cash and cash equivalents stood at RMB 9.71 billion, slightly down from RMB 9.89 billion, a decrease of approximately 1.84%[16] - The company had a cash and cash equivalents balance of CNY 4,858,674,129.39 at the end of the first three quarters of 2025, a significant increase from CNY 814,331,455.36 at the end of the same period in 2024[34] - The company reported interest income of CNY 14,119,786.55 for the first three quarters of 2025, compared to CNY 13,576,035.29 in 2024, indicating growth in interest earnings[31]

Financial Performance - The company's operating revenue for Q3 2025 was ¥247,238,462.07, a decrease of 10.46% compared to the same period last year[3] - The total profit for the period was -¥18,124,392.23, reflecting a significant decline of 114.13% year-over-year[3] - The net profit attributable to shareholders was -¥15,223,399.69, down 113.39% from the previous year[3] - The basic earnings per share for the period was -¥0.0394, a decrease of 113.52% compared to the same quarter last year[3] - The net profit excluding non-recurring gains and losses was -¥19,647,341.22, a decline of 117.34% compared to the same period last year[3] - Total operating revenue for the first three quarters of 2025 was ¥762.83 million, a decrease of 5.57% compared to ¥807.86 million in the same period of 2024[25] - Net profit for the first three quarters of 2025 was ¥96.64 million, a decrease of 21.73% compared to ¥123.55 million in 2024[26] - Operating profit for the first three quarters of 2025 was ¥108.63 million, down 25.66% from ¥146.03 million in 2024[26] - Basic and diluted earnings per share for the first three quarters of 2025 were ¥0.2490, compared to ¥0.3175 in 2024, reflecting a decrease of 21.5%[27] - The company reported a tax expense of ¥11.73 million for the first three quarters of 2025, down from ¥22.39 million in 2024, indicating a reduction in tax liability[26] - Other comprehensive income after tax for the first three quarters of 2025 was -¥426,783.46, compared to ¥5.87 million in 2024, showing a significant decline[27] Cash Flow and Assets - The net cash flow from operating activities for the year-to-date was ¥57,001,414.03, down 55.60% compared to the previous year[3] - Cash flow from operating activities for the first three quarters of 2025 was ¥57.00 million, a decline of 55.6% from ¥128.39 million in 2024[30] - Cash flow from investing activities for the first three quarters of 2025 was ¥66.24 million, compared to a negative cash flow of ¥159.64 million in 2024, indicating a significant improvement[30] - Cash and cash equivalents at the end of the first three quarters of 2025 totaled ¥837.00 million, an increase from ¥801.75 million at the end of 2024[30] - The company's cash and cash equivalents increased to CNY 837,007,159.77 from CNY 802,275,964.57, representing a growth of about 4.3% year-over-year[20] Expenses and Liabilities - Research and development expenses totaled ¥21,820,828.56, an increase of 30.22% year-over-year, representing 8.83% of operating revenue[4] - Total current liabilities decreased to CNY 502,100,991.45 from CNY 511,603,470.86, indicating a reduction of approximately 1.0%[22] - The company's total liabilities decreased to CNY 516,560,530.10 from CNY 537,055,493.91, reflecting a reduction of approximately 3.0%[22] Shareholder Information - Total number of common shareholders at the end of the reporting period is 19,944[11] - The largest shareholder, Zhang Baoquan, holds 79,425,226 shares, representing 19.86% of total shares[11] - The second largest shareholder, Wu Yanfang, holds 66,683,517 shares, representing 16.67% of total shares[11] - The top 10 shareholders collectively hold a significant portion of shares, with the largest three shareholders accounting for over 40%[11] - The shareholder structure indicates a strong concentration of ownership among a few key individuals and entities[12] Equity and Assets - Total assets at the end of the period were ¥1,748,637,305.62, a decrease of 2.33% from the end of the previous year[4] - The company reported a decrease in equity attributable to shareholders to ¥1,231,673,132.36, down 1.69% from the previous year[4] - The company's total equity as of September 30, 2025, was CNY 1,232,076,775.52, down from CNY 1,253,315,117.82, reflecting a decrease of about 1.7%[22] - The company reported a total of CNY 124,431,002.94 in accounts receivable, down from CNY 142,807,124.44, which is a decline of approximately 12.9%[20] - The company’s inventory increased significantly to CNY 12,035,625.79 from CNY 5,017,035.65, marking an increase of approximately 139.7%[21] - The company’s long-term equity investments decreased to CNY 3,880,502.58 from CNY 5,635,574.43, a decline of about 31.1%[21] - The company’s retained earnings increased to CNY 518,519,249.04 from CNY 499,025,283.99, representing a growth of about 3.9%[22] Corporate Actions - The company has implemented a restricted stock incentive plan approved on March 19, 2025, aimed at enhancing employee motivation[15] - The first extraordinary general meeting of 2025 was held on April 11, 2025, to further discuss the stock incentive plan[16] - The company has engaged in securities lending activities, with 600,000 shares lent out as of the reporting period[14] - The company has not reported any changes in the lending or borrowing of shares among the top shareholders[14] - The total number of shares held by the "Suzhou Industrial Park Lingzhi Software Co., Ltd. Repurchase Special Securities Account" is 13,750,000, representing 3.44%[12] - The company has adjusted the grant price for its 2025 restricted stock incentive plan, indicating a strategic move to align with market conditions[18] Accounting Changes - The company will implement new accounting standards starting from 2025, which will involve adjustments to the financial statements at the beginning of the year[31] - The announcement was made by the board of directors of Suzhou Industrial Park Lingzhi Software Co., Ltd. on October 29, 2025[32]

Financial Performance - The company's operating revenue for the third quarter reached ¥1,428,588,016.84, representing a year-on-year increase of 117.41%[4] - The total profit for the quarter was ¥45,234,796.22, showing a decrease of 27.29% compared to the same period last year[4] - The net profit attributable to shareholders was ¥19,104,001.29, down 49.78% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥16,243,700.72, a decline of 50.57% compared to the previous year[4] - The basic earnings per share for the quarter was ¥0.0579, reflecting a decrease of 49.77% year-on-year[5] - Total operating revenue for the first three quarters of 2025 reached ¥3,087,310,849.58, an increase of 17.8% compared to ¥2,620,821,878.44 in the same period of 2024[17] - Net profit for the first three quarters of 2025 was ¥92,239,719.64, a decrease of 15.3% from ¥108,872,010.09 in the same period of 2024[18] - The total comprehensive income for the parent company's shareholders was CNY 29,319,279.50, a decrease of 45.0% compared to CNY 53,337,645.34 in the previous year[19] - Basic and diluted earnings per share were CNY 0.0888, down from CNY 0.1616 in the previous year[19] Assets and Liabilities - The total assets at the end of the reporting period were ¥7,998,558,131.86, a decrease of 2.42% from the end of the previous year[5] - The company's total assets as of September 30, 2025, amounted to ¥7,998,558,131.86, down from ¥8,197,046,263.53 at the end of 2024[16] - Current assets totaled ¥5,531,136,715.65 as of September 30, 2025, compared to ¥5,822,183,147.62 at the end of 2024, indicating a decrease of 5%[14] - Current liabilities were ¥4,708,561,479.10 as of September 30, 2025, slightly up from ¥4,687,119,393.59 at the end of 2024[15] - The company's long-term borrowings decreased to ¥211,665,332.00 as of September 30, 2025, from ¥591,700,000.00 at the end of 2024, a reduction of 64.3%[16] - The company's total equity increased to ¥2,921,038,859.51 as of September 30, 2025, compared to ¥2,650,919,928.30 at the end of 2024, representing an increase of 10.2%[16] Cash Flow - Cash flow from operating activities for the year-to-date period was ¥683,807,897.50, an increase of 139.70%[4] - The net cash flow from operating activities was CNY 683,807,897.50, a significant improvement from a negative CNY 1,722,374,886.01 in the same period last year[21] - Cash received from sales of goods and services increased to CNY 2,817,944,602.64, up 67.2% from CNY 1,686,851,972.61 in the previous year[21] - The cash inflow from operating activities totaled CNY 2,881,741,925.50, compared to CNY 1,739,991,055.04 in the previous year[22] - The cash outflow from operating activities was CNY 2,197,934,028.00, down from CNY 3,462,365,941.05 in the previous year[22] - The ending cash and cash equivalents balance was CNY 287,445,779.99, compared to CNY 196,531,688.34 at the end of the previous year[23] Inventory and Costs - The decline in net profit was primarily due to lower gross margins and increased product costs[8] - Total operating costs for the first three quarters of 2025 were ¥2,951,857,356.43, up from ¥2,465,753,560.92 in 2024, reflecting a year-on-year increase of 19.7%[17] - The company's inventory decreased to ¥2,509,608,932.91 as of September 30, 2025, from ¥2,906,455,054.66 at the end of 2024, reflecting a decline of 13.6%[14] Research and Development - The company experienced a significant increase in operating revenue due to product structure adjustments and increased R&D tasks[8]

Financial Performance - The company's operating revenue for Q3 2025 was ¥117,695,627.10, a decrease of 20.86% compared to the same period last year[4] - The total profit for the period was ¥9,021,857.45, down 55.38% year-on-year, primarily due to a decline in revenue[4] - Net profit attributable to shareholders was ¥9,640,857.17, reflecting a decrease of 29.63% compared to the previous year[4] - For the first three quarters of 2025, the company achieved operating revenue of CNY 394,561,285.36, a year-on-year increase of 0.30%[14] - The net profit attributable to shareholders of the listed company was CNY 40,206,875.57, a year-on-year decrease of 11.18%[14] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 36,158,269.37, a year-on-year decrease of 10.27%[14] - Operating profit for the first three quarters of 2025 was CNY 42.09 million, down from CNY 58.29 million in 2024, indicating a decrease of 28%[34] - Net profit for the first three quarters of 2025 was CNY 37.78 million, compared to CNY 52.32 million in 2024, a decline of 27.8%[34] - The net profit attributable to the parent company shareholders for the current period is CNY 40,206,875.57, a decrease of 11.4% compared to CNY 45,265,776.59 in the previous period[35] - The total comprehensive income attributable to the parent company owners is CNY 39,859,562.70, down from CNY 44,572,329.71, reflecting a decline of 10.5%[35] Cash Flow and Assets - The net cash flow from operating activities increased by 32.05% to ¥45,081,814.87, mainly due to government subsidies received for the "Tangshan South Port Economic Development Zone Wastewater Resource Utilization Project"[9] - The company reported a decrease of 71.25% in net cash flow from operating activities year-to-date, primarily due to reduced project collections[10] - The net cash flow from operating activities was CNY 12,810,495.85[14] - Cash and cash equivalents as of September 30, 2025, were CNY 267.06 million, compared to CNY 411.20 million as of December 31, 2024, a decrease of 35%[30] - Total assets as of September 30, 2025, were CNY 2.24 billion, slightly down from CNY 2.30 billion as of December 31, 2024[31] - The company's current assets total CNY 940,243,592.33, a decrease from CNY 1,096,476,775.88 at the end of 2024[40] - The company's inventory increased to CNY 71,748,083.33 from CNY 67,058,004.56, reflecting a growth of 4.0%[40] - The total cash and cash equivalents at the end of the period is CNY 255,772,233.05, down from CNY 360,172,627.81 at the end of the previous year[39] Research and Development - Research and development expenses totaled ¥7,656,522.97, accounting for 6.51% of operating revenue, an increase of 1.31 percentage points year-on-year[5] - Research and development expenses for the first three quarters of 2025 were CNY 13.27 million, down from CNY 15.18 million in 2024, a decrease of 12.6%[34] - The company launched the Water Radish® AI Intelligent Body 1.0, a system for unmanned operation management in water treatment plants, integrating various AI technologies[15] - A strategic cooperation was established with Wuhan University to create the "Wuhan University-Jin Ke Environment Artificial Intelligence Innovation Research Center" to enhance AI research capabilities[17] - The company was recognized as the first in the water industry to receive the Ministry of Industry and Information Technology's AI industry innovation scene application certification[16] - The new water island® series products achieved continuous and steady progress, focusing on the deep development and process innovation of the new water island® 3.0 version, enhancing modularity and integration[21] Market and Contracts - The company's To B business revenue reached ¥16,423,440, representing a year-on-year increase of 91.98%[10] - The revenue from the wastewater resource utilization sector was ¥31,503,700, showing a year-on-year growth of 17.95%[10] - The company secured contracts for the "Yuhua Thermal Power Project" and the "Yancheng High-tech Zone Industrial Reclaimed Water Plant Project," providing high-quality reclaimed water and optimizing user water production processes[23] - In the overseas market, the company signed a supply contract with ecooil in Indonesia, showcasing its technical strength in oil refining water treatment[24] Liabilities and Equity - Total liabilities increased to CNY 1.04 billion as of September 30, 2025, from CNY 1.14 billion as of December 31, 2024, a decrease of 8.3%[32] - The company's total equity as of September 30, 2025, was CNY 1.20 billion, compared to CNY 1.16 billion as of December 31, 2024, an increase of 3.2%[32] - The total liabilities decreased to CNY 442,391,707.86 from CNY 596,287,396.72, reflecting a significant reduction in financial obligations[42] - The total equity increased slightly to CNY 977,867,752.47 from CNY 972,055,477.93, showing resilience in shareholder value despite operational challenges[42] Investment and Patents - The company completed applications for two patents related to deep water treatment and resource utilization technologies, bringing the total number of authorized patents to 123 as of the end of Q3 2025[25] - Investment income for the first three quarters of 2025 was CNY 554,934.23, down from CNY 1,866,315.01 in 2024, indicating challenges in investment performance[44] - The company reported a credit impairment loss of CNY 5,163,047.25, an increase from CNY 3,764,253.44 in the previous year, highlighting potential risks in receivables[44] Operational Challenges - The gross profit margin for the period was 32.15%, with a decrease in gross profit for the new water island and plant operation services[10] - Total operating costs increased to CNY 360.37 million in 2025 from CNY 338.59 million in 2024, representing a rise of 6.4%[34] - Financial expenses increased significantly to CNY 12.70 million in 2025 from CNY 5.33 million in 2024, an increase of 138.5%[34] - The net cash flow from operating activities for the first three quarters of 2025 is CNY 12,810,495.85, significantly lower than CNY 44,565,464.24 in the same period of 2024, indicating a decrease of 71.2%[38] - The company's cash flow management showed improvement, with a focus on reducing short-term borrowings and other current liabilities[45] Accounting Standards - The company will not apply new accounting standards starting from 2025[48]

Financial Performance - The company's operating revenue for the third quarter reached ¥106,937,671.62, representing a year-on-year increase of 21.52%[3] - The total profit for the third quarter was ¥8,149,982.96, with a net profit attributable to shareholders of ¥8,597,530.11[3] - Year-to-date revenue as of the reporting period was ¥302,700,815.36, showing a 14.29% increase compared to the same period last year[3] - The company reported a significant increase in net profit attributable to shareholders for the quarter, with a year-on-year growth of 242.07%[9] - Total operating revenue for the first three quarters of 2025 reached ¥302.70 million, an increase of 14.26% compared to ¥264.85 million in the same period of 2024[18] - Operating profit for the first three quarters of 2025 was ¥26.56 million, a significant turnaround from a loss of ¥20.81 million in the same period of 2024[19] - Net profit for the first three quarters of 2025 was ¥26.76 million, compared to a net loss of ¥15.20 million in the same period of 2024[19] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.34, recovering from a loss of ¥0.20 per share in the same period of 2024[19] Research and Development - Research and development expenses totaled ¥21,128,375.40 for the quarter, accounting for 19.76% of operating revenue, a decrease of 1.18 percentage points year-on-year[4] - Research and development expenses increased to ¥62.72 million, up from ¥57.23 million, indicating a focus on innovation[18] Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period was ¥19,641,082.96[3] - The company's cash and cash equivalents as of September 30, 2025, amount to ¥123,995,787.94, down from ¥200,731,445.41 at the end of 2024[14] - Total assets as of the reporting period were ¥1,899,214,539.20, reflecting a decrease of 1.56% from the end of the previous year[4] - Total assets decreased to ¥1,899.21 million from ¥1,929.36 million, a decline of 1.56%[16] - The company's cash flow from operating activities is yet to be detailed in the provided data, indicating potential areas for future reporting[21] Shareholder Information - Total number of common shareholders at the end of the reporting period is 6,687[12] - The largest shareholder, Shanghai Dish Consulting Co., Ltd., holds 27,771,000 shares, representing 35.62% of total shares[12] - The company has not reported any changes in the top 10 shareholders due to margin trading activities[14] - There are no significant related party transactions or actions among shareholders reported[13] - The company has not received any notifications regarding other shareholders having related party relationships or acting in concert[13] Government and Market Strategy - The company expects to continue strengthening its domestic market presence, contributing to revenue growth and cost control measures[9] - Government subsidies received during the year have increased compared to the previous year, positively impacting the financial results[9] - The company is focusing on market expansion and new product development, as indicated by the increase in R&D expenses[18] Liabilities and Costs - Total liabilities decreased to ¥197.12 million from ¥246.36 million, a reduction of 20%[16] - Total operating costs decreased to ¥285.43 million from ¥296.66 million, reflecting a reduction of 3.93%[18] Cash Flow Activities - Cash inflow from operating activities totaled $283,031,576.85, an increase from $250,814,892.48 in the previous period, reflecting a growth of approximately 12.8%[22] - Net cash flow from operating activities improved to $19,641,082.96, compared to a negative cash flow of $6,582,776.74 in the prior period[22] - Cash inflow from investment activities reached $2,351,249,376.76, significantly higher than $1,663,787,664.49, marking an increase of about 41.3%[22] - Net cash flow from investment activities was negative at -$81,472,532.88, a decline from a positive cash flow of $54,334,669.66 previously[22] - Cash outflow from financing activities amounted to $14,702,993.05, down from $77,741,015.51, indicating a reduction of approximately 81.1%[23] - The net increase in cash and cash equivalents was -$77,207,060.17, compared to -$29,444,646.47 in the previous period[23] - The ending balance of cash and cash equivalents stood at $119,007,785.43, up from $68,158,274.93 at the end of the previous period[23] - The company reported a cash inflow of $2,351,180,132.49 from the recovery of investments, compared to $1,663,733,736.39 previously, reflecting a growth of approximately 41.4%[22] - Payments to employees increased to $143,887,427.60 from $136,133,446.55, representing a rise of about 5.1%[22] Accounting Standards - The company did not execute any new accounting standards or interpretations for the year 2025[24]

Financial Performance - The company's operating revenue for Q3 2025 was ¥932,224,183.53, a decrease of 10.72% compared to the same period last year[3] - The total profit for the period was ¥8,626,817.07, while the net profit attributable to shareholders was a loss of ¥15,378,549.08[3] - Year-to-date revenue decreased by 37.55% to ¥2,457,353,701.22, with a net loss attributable to shareholders of ¥227,386,909.52[3] - The basic and diluted earnings per share for the current period were both -¥0.006, with year-to-date figures at -¥0.094[3] - Total revenue for the first three quarters of 2025 was CNY 2,457,353,701.22, a decrease from CNY 3,935,218,435.15 in the same period of 2024, representing a decline of approximately 37.5%[20] - The company's net profit for the first three quarters of 2025 was impacted by an investment loss of CNY 98,191,520.54, compared to a loss of CNY 73,315,380.85 in the same period of 2024[20] - The company reported a total comprehensive income of -243,757,086.18 CNY for the first three quarters of 2025, compared to -1,438,504,049.37 CNY in the same period of 2024[22] - The net profit for the first three quarters of 2025 was -243,757,086.18 CNY, compared to -1,438,504,049.37 CNY in the same period of 2024, indicating a significant reduction in losses[22] - Operating profit for the first three quarters of 2025 was -148,496,134.39 CNY, compared to -1,600,494,291.46 CNY in the previous year, showing an improvement in operational performance[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥18,545,935,241.27, a decrease of 4.29% from the end of the previous year[4] - The total assets of the company as of September 30, 2025, were CNY 18,545,935,241.27, down from CNY 19,376,801,794.29 at the end of 2024, indicating a decrease of about 4.3%[19] - Total liabilities decreased to CNY 9,817,120,360.15 as of September 30, 2025, from CNY 10,414,863,366.82 at the end of 2024, reflecting a reduction of approximately 5.7%[19] - Total current assets as of September 30, 2025, amounted to CNY 7,085,189,358.64, an increase from CNY 6,980,824,160.01 at the end of 2024[26] - Total non-current assets decreased to CNY 9,432,865,500.11 as of September 30, 2025, from CNY 9,545,187,352.78 at the end of 2024[27] - Total liabilities as of September 30, 2025, were CNY 5,877,306,661.76, compared to CNY 5,850,457,565.25 at the end of 2024[28] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 144,872[10] - The largest shareholder, Beijing Jingyuntong Daxing Technology Investment Co., Ltd., holds 28.99% of the shares, with 300,000,000 shares pledged[10] - The top ten unrestricted shareholders include Beijing JYTD Investment Co., Ltd. holding 700 million shares, accounting for a significant portion of the total shares[11] - The second largest shareholder, Feng Huanpei, holds approximately 409.99 million shares, representing a substantial stake in the company[11] - The total number of shares held by the top ten unrestricted shareholders amounts to over 1.1 billion shares, indicating strong institutional interest[11] - The shareholder structure indicates a concentration of ownership, which may impact corporate governance and decision-making processes[11] Legal and Regulatory Matters - The company has disclosed ongoing litigation cases with a total disputed amount of approximately RMB 5,499.73 million related to a supply and electricity contract dispute[13] - The company reported a significant number of ongoing legal cases, with amounts ranging from RMB 179.10 million to RMB 4,842.91 million across various disputes[15] Operational Insights - The company adjusted its new materials business operating rate, which contributed to a significant reduction in losses compared to the previous year[8] - The company has not disclosed any new product developments or technological advancements during the reporting period[12] - There is no indication of market expansion or mergers and acquisitions in the recent financial disclosures[12] - The company has not provided specific future guidance or performance outlook in the latest reports[12] - The company has not reported any changes in the participation of major shareholders in margin financing or securities lending activities[12] Cash Flow and Investments - Cash flow from operating activities for the first three quarters of 2025 was 763,757,088.85 CNY, a turnaround from -342,875,852.81 CNY in the same period of 2024[24] - Cash flow from investing activities showed a net outflow of -13,963.90 CNY in 2025, compared to -256,232,281.26 CNY in 2024, indicating reduced investment losses[24] - Cash flow from financing activities resulted in a net outflow of -699,327,565.73 CNY in 2025, compared to -412,327,195.54 CNY in the previous year, reflecting ongoing financing challenges[25] - The company reported interest expenses of CNY 91,351,580.56 for the first three quarters of 2025, down from CNY 132,171,304.79 in the same period of 2024[30] Accounting and Standards - The company has not adopted new accounting standards or interpretations for the year 2025[33]

Financial Performance - The company's operating revenue for the third quarter was ¥131,887,120.38, representing a year-on-year increase of 3.45%[4] - The total profit for the period was a loss of ¥22,454,629.41, with a year-to-date loss of ¥65,490,575.67[4] - The net profit attributable to shareholders was a loss of ¥22,231,281.31 for the quarter, and a year-to-date loss of ¥64,925,902.84[4] - The basic and diluted earnings per share for the quarter were both -¥0.06, with year-to-date figures at -¥0.16[5] - Total operating revenue for the first three quarters of 2025 reached ¥307,046,078.42, an increase of 26.0% compared to ¥243,708,519.25 in the same period of 2024[17] - Total operating costs for the first three quarters of 2025 were ¥338,756,455.63, up 28.8% from ¥262,961,991.26 in the previous year[17] - Net loss for the first three quarters of 2025 was ¥65,492,296.46, compared to a net loss of ¥84,389,611.59 in the same period of 2024, representing a 22.4% improvement[18] - Basic and diluted earnings per share for the first three quarters of 2025 were both -¥0.16, an improvement from -¥0.59 in the same period of 2024[19] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,474,173,353.49, a decrease of 12.48% compared to the end of the previous year[5] - The equity attributable to shareholders was ¥951,653,207.71, down 6.32% from the previous year-end[5] - The company's total assets amounted to approximately ¥1.47 billion, a decrease from ¥1.68 billion as of December 31, 2024[13] - The company's current assets totaled approximately ¥1.41 billion, down from ¥1.62 billion in the previous period[14] - The company's total liabilities decreased to ¥530,621,428.18 in 2025 from ¥676,011,478.87 in 2024, a reduction of 21.5%[16] - The total equity attributable to shareholders decreased to ¥951,653,207.71 in 2025 from ¥1,015,819,423.34 in 2024, a decline of 6.3%[16] Cash Flow - The cash flow from operating activities for the year-to-date was -¥52,059,829.10, indicating negative cash flow[5] - The company's cash inflow from operating activities totaled ¥514,588,436.95 in the first three quarters of 2025, significantly higher than ¥105,000,068.47 in the same period of 2024[21] - Cash received from sales of goods and services was ¥140,459,135.79, compared to ¥85,237,353.12 in the first three quarters of 2024, marking a 64.8% increase[21] - The net cash flow from operating activities was -$52.06 million, compared to -$4.37 million in the previous period, indicating a significant decline in operational cash generation[22] - Total cash outflow from operating activities amounted to $566.65 million, up from $109.37 million, reflecting increased operational expenses[22] - The ending cash and cash equivalents balance was $25.57 million, down from $145.02 million at the beginning of the period, showing a significant reduction in liquidity[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,271[10] - The largest shareholder, Xinjiang Jinzheng Construction Technology Co., Ltd., holds 22.50% of the shares, totaling 90,287,321 shares[10] Operational Insights - The company reported non-operating income and expenses totaling -¥565,147.66 for the quarter, with a year-to-date total of -¥4,178,971.64[8] - The company has not reported any new product developments or technological advancements during this period[12] - There are no indications of market expansion or mergers and acquisitions in the recent financial report[12] - The company has not provided any future performance guidance or outlook in the current report[12] Expense Management - The company reported a significant increase in management expenses, which rose to ¥49,108,327.76 in 2025 from ¥23,241,524.39 in 2024, an increase of 111.5%[17] - The company’s credit impairment losses were reported at ¥33,083,579.24, compared to ¥21,282,776.34 in the previous year, indicating a 55.5% increase[18] - Cash paid to employees was $77.28 million, significantly higher than $38.18 million previously, indicating increased labor costs[22] - The company reported cash paid for taxes of $13.33 million, up from $1.83 million, reflecting higher tax obligations[22] Future Considerations - The company is set to implement new accounting standards starting in 2025, which may impact future financial reporting[24]

Financial Performance - The company's operating revenue for Q3 2025 was ¥279,171,179.69, representing a year-on-year increase of 3.98%[3] - The total profit for the period reached ¥62,634,008.28, reflecting an increase of 11.55% compared to the same period last year[3] - Net profit attributable to shareholders was ¥56,779,189.44, up by 4.41% year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥56,759,455.46, which is a 15.38% increase from the previous year[3] - The total profit for the year-to-date period was ¥219,923,051.94, showing a growth of 32.54% compared to the same period last year[3] - Total revenue for the first three quarters of 2025 reached ¥933,504,506.54, an increase of 30.1% compared to ¥717,908,620.89 in the same period of 2024[19] - Operating profit for the first three quarters of 2025 was ¥220,138,591.24, up 33.1% from ¥165,381,585.98 in the previous year[19] - Net profit for the first three quarters of 2025 amounted to ¥198,812,348.70, representing a growth of 28.3% from ¥155,075,818.34 in the same period of 2024[20] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥3,066,468,369.50, a 9.95% increase from the end of the previous year[4] - Total assets increased to ¥3,066,468,369.50 in 2025 from ¥2,788,843,157.82 in 2024, marking a growth of 10.0%[16] - Total liabilities rose to ¥852,992,854.33 in 2025, compared to ¥726,241,581.10 in 2024, reflecting an increase of 17.4%[16] - Total current assets as of September 30, 2025, amounted to ¥2,649,804,538.40, an increase from ¥2,424,203,602.70 as of December 31, 2024, representing a growth of approximately 9.3%[14] - The total non-current assets reached ¥416,663,831.09 in 2025, up from ¥364,639,555.12 in 2024, showing a growth of 14.3%[16] Cash Flow - The company’s cash flow from operating activities for the first three quarters of 2025 was not detailed, but the overall financial health appears to be improving based on revenue and profit growth[21] - In the first three quarters of 2025, cash inflow from operating activities was approximately $805.28 million, a 55.9% increase from $515.80 million in the same period of 2024[23] - The net cash flow from operating activities for the first three quarters of 2025 was -$35.72 million, an improvement compared to -$41.48 million in 2024[23] - Cash inflow from investment activities totaled approximately $316.17 million in 2025, while it was $511.62 million in 2024, indicating a decrease of 38.2%[24] - The net cash flow from investment activities was $132.97 million in 2025, up from $102.86 million in 2024, reflecting a 29.3% increase[24] - Cash outflow from financing activities was $48.54 million in 2025, compared to $105.07 million in 2024, showing a reduction of 53.8%[24] - The net increase in cash and cash equivalents for the first three quarters of 2025 was $48.92 million, contrasting with a decrease of $42.31 million in 2024[24] - The ending balance of cash and cash equivalents as of September 2025 was approximately $293.80 million, significantly higher than $147.41 million at the end of September 2024[24] - The company received cash from investment recoveries amounting to $313.80 million in 2025, compared to $280.00 million in 2024, marking a 11.4% increase[24] Shareholder Information - The company reported a total of 20,563 common stock shareholders at the end of the reporting period[11] - The largest shareholder, Cheng Zhuo, holds 36,787,490 shares, representing 27.92% of total shares[12] - The second-largest shareholder, Ningbo Yage Venture Capital Partnership, holds 9,450,000 shares, accounting for 7.17%[12] - The company has no significant changes in the number of shares lent or returned through margin trading[12] Research and Development - Research and development expenses totaled ¥27,403,446.20, accounting for 9.82% of operating revenue, which is an increase of 0.20 percentage points[4] - Research and development expenses for the first three quarters of 2025 were ¥88,356,599.86, up from ¥74,751,860.34 in the same period of 2024, indicating a growth of 18.2%[19] Earnings Per Share - The basic earnings per share for the period was ¥0.43, a 4.88% increase year-on-year[3] - The company reported a basic earnings per share of ¥1.51 for the first three quarters of 2025, compared to ¥1.18 in the same period of 2024, an increase of 27.9%[20] Operational Status - There are no applicable reminders regarding the company's operational status during the reporting period[13] - The company has not reported any audited financial statements for the current period[14] - The company has not adopted new accounting standards or interpretations that would affect the financial statements for the year of first execution[25] Strategic Focus - The company attributed the revenue growth to enhanced production capabilities, product development, and expansion into overseas markets[8] - The net profit growth was driven by increased sales and a strategic focus on mid-to-high-end products and international markets[9]