Financial Performance - The company's operating revenue for Q3 2025 was ¥31,245,172,779.20, a decrease of 11.91% compared to the same period last year[5] - The net profit attributable to shareholders was -¥259,833,007.19, representing an increase in loss of 85.05% year-on-year[5] - The basic earnings per share for Q3 2025 was -¥0.04, an increase in loss of 84.88% compared to the same period last year[5] - Total operating revenue for the current period was ¥92.16 billion, a decrease of 14.93% from ¥108.30 billion in the previous period[25] - Total operating costs for the current period were ¥93.38 billion, down 15.34% from ¥110.31 billion in the previous period[25] - Net profit for the current period was ¥109.71 million, a significant improvement compared to a net loss of ¥1.44 billion in the previous period[26] - The company’s basic earnings per share for the current period was ¥0.02, compared to a loss of ¥0.21 per share in the previous period[26] - The company’s total comprehensive income for the current period was ¥93.60 million, recovering from a loss of ¥1.47 billion in the previous period[26] Cash Flow and Liquidity - The cash flow from operating activities for the year-to-date period reached ¥11,788,101,976.09, an increase of 251.46%[5] - The company reported a net cash flow from operating activities of ¥11.79 billion, an increase from ¥3.35 billion in the previous period[29] - The total cash and cash equivalents at the end of the period reached $15.63 billion, up from $11.35 billion, indicating a growth of 37.5%[30] - The net increase in cash and cash equivalents for the period was $3.62 billion, compared to $4.96 billion in the previous period, a decline of 27.1%[30] Assets and Liabilities - The total assets at the end of Q3 2025 were ¥212,802,706,854.96, reflecting a growth of 4.16% from the end of the previous year[5] - The total current assets increased to ¥44,851,989,007.93 from ¥36,926,353,376.68, representing a growth of approximately 21.5%[23] - Total liabilities increased to ¥175,058,895,165.52 from ¥166,840,344,822.36, which is an increase of approximately 4.3%[24] - The total liabilities and equity increased to ¥212.80 billion from ¥204.31 billion, reflecting a growth of 4.83%[25] Shareholder Information - The total number of common shareholders at the end of the reporting period is 73,343[13] - Jiangsu Shenghong Technology Co., Ltd. holds 43.24% of shares, totaling 2,858,492,440 shares[13] - Shenghong Petrochemical Group Co., Ltd. holds 16.92% of shares, totaling 1,118,692,575 shares, with 127,000,000 shares pledged[13] - The company’s controlling shareholder and its concerted actors increased their holdings by 223,712,060 shares, representing 3.38% of the total share capital[15] Government Subsidies and Investments - The company’s subsidiary, Shenghong Refining (Lianyungang) Co., Ltd., is expected to receive a government subsidy of 336.56 million RMB, although it has not yet been received[18] - Investment income increased by 73.69% to ¥199,871,727.64, primarily due to gains from the disposal of financial assets[10] - The company received cash inflows from investment activities totaling ¥893.82 million, an increase from ¥591.96 million in the previous period[29] Financial Reporting and Standards - The company’s financial report for the third quarter was not audited, indicating a potential area for further scrutiny[31] - The company plans to implement new accounting standards starting in 2025, which may affect future financial reporting[32] Other Financial Metrics - The company reported a significant increase in other income, which rose by 213.81% to ¥1,186,361,783.60 year-on-year[10] - The company experienced a 93.40% decrease in non-operating expenses, amounting to ¥20,411,563.50, attributed to prior period project deferrals[11] - Research and development expenses decreased to ¥492.02 million, down 28.66% from ¥689.35 million in the previous period[25] - The company’s financial expenses decreased to ¥3.44 billion, a reduction of 5.58% from ¥3.64 billion in the previous period[25]

炬申物流集团股份有限公司 2025 年第三季度报告 证券代码：001202 证券简称：炬申股份 公告编号：2025-096 炬申物流集团股份有限公司 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 炬申物流集团股份有限公司 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 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 | 年初至报告期末比上 年初至报告期末 | | | --- | --- | --- | --- | --- | | | | 增减 | 年同期增减 | | | 营业收入（元） | 641,393,385.48 | 137.20% | 1,303,19 ...

Financial Performance - Total operating revenue for the third quarter reached CNY 812,774.25 million, a 101.11% increase compared to CNY 404,142.45 million in the same period last year[6] - Net profit attributable to shareholders was CNY 376,966.31 million, reflecting a 116.65% increase from CNY 174,000.30 million year-on-year[6] - Basic earnings per share increased by 140.00% to CNY 0.36 from CNY 0.15 in the previous year[8] - Total operating revenue for the first nine months of 2025 reached CNY 19.20 billion, a significant increase from CNY 11.34 billion in the same period of 2024, representing a growth of approximately 69.1%[38] - Net profit for the first nine months of 2025 was CNY 9.14 billion, compared to CNY 4.88 billion in 2024, marking an increase of about 87.5%[40] - The basic earnings per share for the first nine months of 2025 was CNY 0.85, compared to CNY 0.41 in 2024, indicating an increase of approximately 107.3%[40] Assets and Liabilities - Total assets as of September 30, 2025, amounted to CNY 56,108,735.52 million, an 11.88% increase from CNY 50,150,604.36 million at the end of the previous year[8] - The company's total assets increased to CNY 561.09 billion in 2025 from CNY 501.51 billion in 2024, reflecting a growth of approximately 11.9%[37] - The company's total liabilities increased to CNY 433.72 billion in 2025 from CNY 382.81 billion in 2024, an increase of about 13.3%[37] - The total equity attributable to shareholders increased by 7.13% to CNY 12,715,410.44 million from CNY 11,869,204.45 million at the end of the previous year[8] - The company's equity attributable to shareholders increased to CNY 127.15 billion in 2025 from CNY 118.69 billion in 2024, reflecting a growth of about 7.4%[37] Income and Expenses - Net interest income for the first nine months of 2025 was CNY 116,913.11 million, a 45.36% increase from CNY 80,427.99 million in the same period last year[16] - Net commission and fee income rose by 71.92% to CNY 770,791.90 million from CNY 448,340.49 million year-on-year[16] - Investment income for the first nine months increased by 97.72% to CNY 820,036.73 million compared to CNY 414,737.79 million in the same period last year[16] - Business and management expenses rose by 41.50% to 798,911.75 million, mainly due to variable costs increasing with revenue growth[18] - Total operating expenses for the first nine months of 2025 were CNY 8.22 billion, up from CNY 6.18 billion in 2024, representing an increase of about 33.1%[38] Cash Flow - The company reported a significant decrease in cash flow from operating activities, with a net cash flow of CNY 2,549,017.62 million, down 54.65% from the previous year[8] - Net cash flow from operating activities decreased by 54.65% to 2,549,017.62 million, mainly due to net outflow from proprietary investment business[18] - Cash inflow from operating activities for the first nine months of 2025 was CNY 75.28 billion, a decrease of 10.1% compared to CNY 83.68 billion in the same period of 2024[42] - Cash inflow from investment activities totaled CNY 4.66 billion, significantly up from CNY 429.52 million in the previous year[42] - Net cash flow from financing activities was CNY 2.34 billion, a turnaround from a net outflow of CNY 18.90 billion in the same period of 2024[44] Shareholder Information - The top three shareholders hold a combined 67.08% of shares, with Shenzhen Investment Holding Co., Ltd. holding 31.47%[22] - The company acquired 96.08% of Wanhe Securities, totaling 2,183,877,825 shares, following approval from the China Securities Regulatory Commission[26] - The total number of shares increased from 9,612,429,377 to 10,241,743,060 after the issuance of new shares[27] - The company's registered capital changed from RMB 9,612,429,377 to RMB 10,241,743,060[28] Regulatory and Compliance - The company has adjusted its accounting policies retroactively, impacting previously reported financial data due to new regulations on standard warehouse receipt transactions[9] - The risk coverage ratio rose by 4.99 percentage points to 350.39%, exceeding the regulatory minimum of 120%[20] - The liquidity coverage ratio decreased by 141.26 percentage points to 269.55%, still above the regulatory minimum of 120%[20] Capital and Financing Activities - The company issued bonds totaling RMB 24 billion and RMB 38 billion with coupon rates of 2.15% and 1.96%, respectively[31] - The company completed the issuance of perpetual subordinated bonds totaling RMB 40 billion at a coupon rate of 2.04%[31] - The company successfully issued short-term financing bonds in various tranches, totaling RMB 20 billion to RMB 30 billion with coupon rates ranging from 1.55% to 1.75%[31] - The company raised CNY 72.59 billion through bond issuance in 2025, compared to CNY 51.64 billion in 2024[44] Cash and Deposits - The company's cash and cash equivalents reached RMB 122,577,710,291.32 as of September 30, 2025, up from RMB 94,698,402,778.84 at the end of 2024[33] - Client funds deposits increased to RMB 109,820,104,552.08 from RMB 83,958,749,238.55 year-over-year[33] - The company reported a decrease in receivables from RMB 3,373,006,664.42 to RMB 3,286,493,634.81[33]

Financial Performance - Q3 2025 revenue was CNY 428,436,252.17, a decrease of 48.62% year-over-year[4] - Net profit attributable to shareholders was CNY 10,672,270.69, down 64.50% compared to the same period last year[4] - Basic earnings per share decreased by 71.43% to CNY 0.02[4] - The company reported a net profit of CNY 42,807,005.19 for the period, a decrease of 38.08% due to reduced revenue[10] - Total operating revenue decreased to ¥2,348,293,509.48 from ¥2,920,755,528.06, representing a decline of approximately 19.6% year-over-year[20] - Net profit for the period was ¥42,807,005.19, down from ¥69,134,382.84, reflecting a decrease of approximately 38.2% year-over-year[22] - Earnings per share decreased to ¥0.09 from ¥0.16, indicating a decline of 43.8% year-over-year[22] Assets and Liabilities - Total assets as of September 30, 2025, were CNY 10,008,813,473.49, a decline of 1.89% from the end of the previous year[5] - Total assets decreased to ¥10,008,813,473.49 from ¥10,201,303,699.22, reflecting a reduction of about 1.89%[17] - Total liabilities decreased to ¥6,656,159,570.39 from ¥6,930,421,978.26, a reduction of approximately 3.9%[19] - Long-term borrowings increased by 33.84% to CNY 280,865,630.01, primarily due to the increase in long-term loans[10] - Long-term borrowings increased to ¥280,865,630.01 from ¥209,850,948.91, an increase of approximately 33.8% year-over-year[19] Cash Flow - Net cash flow from operating activities increased by 727.85% to CNY 176,411,754.17 due to higher cash receipts[10] - Cash generated from operating activities was ¥2,291,125,198.77, down from ¥2,709,115,064.27, a decrease of about 15.4% year-over-year[23] - Total cash inflow from operating activities reached ¥3,910,814,509.65, slightly up from ¥3,848,711,294.86, indicating steady operational performance[24] - Cash inflow from investment activities was ¥2,468,455.00, a substantial increase from ¥321,057.00, indicating a focus on asset disposals[24] - Cash outflow for the acquisition of fixed assets and intangible assets rose to ¥13,692,976.50 from ¥5,864,035.54, reflecting increased capital expenditures[24] Equity and Return Metrics - The weighted average return on equity was 0.33%, down 65.63% year-over-year[5] - The total equity attributable to shareholders rose by 2.49% to CNY 3,297,381,529.85[5] - Total equity increased to ¥3,352,653,903.10 from ¥3,270,881,720.96, reflecting an increase of about 2.5%[19] Operational Efficiency - Non-operating income and expenses resulted in a net loss of CNY 445,475.39 for the period[6] - Research and development expenses decreased to ¥65,593,639.33 from ¥74,129,410.35, a decline of about 11.5% year-over-year[21] - Other income decreased to ¥10,526,944.98 from ¥12,887,555.77, reflecting a decrease of approximately 18.3% year-over-year[21] Regulatory and Compliance - The company is under investigation by the China Securities Regulatory Commission for suspected information disclosure violations, with no updates on the case as of now[14] - The company will actively cooperate with the regulatory investigation and related follow-up work[14]

Financial Performance - The company's operating revenue for Q3 2025 was ¥168,147,356.14, representing a year-on-year increase of 7.45%[5] - Net profit attributable to shareholders for the same period was ¥36,649,221.59, an increase of 81.03% compared to the previous year[5] - The basic earnings per share for Q3 2025 was ¥0.13, reflecting an increase of 85.71% year-on-year[5] - The company's operating revenue for the first nine months of 2025 was ¥451,454,703.30, an increase of ¥21,339,539.81 or 4.96% compared to the same period in 2024, driven by increased sales of supporting models and new product launches[11] - Investment income surged by ¥23,881,713.06 to ¥63,954,545.98, marking a 59.60% increase, attributed to higher income from equity investments[11] - The company reported a significant reduction in income tax expenses, down by ¥7,491,615.87 or 67.77%, primarily due to a decrease in deferred income tax expenses[11] - Net profit for the current period was ¥93,424,862.31, a significant increase of 82.9% compared to ¥51,133,639.17 in the previous period[36] - Basic and diluted earnings per share for the current period are both 0.33, compared to 0.19 in the previous period, representing a 73.68% increase[37] Assets and Liabilities - Total assets at the end of Q3 2025 reached ¥1,302,088,267.31, marking a 15.04% increase from the end of the previous year[5] - The company's equity attributable to shareholders increased by 11.35% to ¥981,490,181.95 compared to the end of the previous year[5] - Total liabilities rose to ¥320,598,085.36, compared to ¥250,441,951.75, indicating a 28% increase[34] - The equity attributable to shareholders of the parent company increased to ¥981,490,181.95 from ¥881,459,219.12, reflecting an increase of 11.3%[35] Cash Flow - Cash flow from operating activities showed a significant decline, with a net amount of ¥956,892.80, down 98.91% year-to-date[5] - The net cash flow from operating activities drastically decreased by ¥86,590,592.19 to ¥956,892.80, a decline of 98.91%, primarily due to lower cash collections compared to the previous year[12] - Cash inflow from operating activities totaled 309,248,415.82, down 21.4% from 393,421,833.54 in the previous period[37] - Net cash flow from operating activities decreased significantly to 956,892.80 from 87,547,484.99, indicating a decline of 98.91%[37] - Cash inflow from investment activities was 178,619,928.90, an increase of 36.66% compared to 130,692,060.37 in the previous period[38] - Net cash flow from investment activities was -60,737,651.68, worsening from -39,229,372.35 in the previous period[38] - Cash inflow from financing activities increased to 40,000,000.00 from 20,000,000.00, marking a 100% increase[38] - Net cash flow from financing activities improved to 39,783,685.63 from -42,246,646.14, indicating a turnaround[38] Investments - The company's long-term equity investments increased by 35.08% to ¥225,995,113.16, attributed to recognized investment income[9] - The company experienced a 521.72% increase in other current assets, reaching ¥5,461,852.53, mainly due to an increase in deductible input tax[9] - The company reported a significant increase in trading financial assets, which rose by 196.20% to ¥138,959,036.65, primarily due to the purchase of bank wealth management products[9] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 12,534, with the largest shareholder holding 23.45% of the shares[14] - The company has no preferred shareholders and no significant changes in the top ten shareholders' equity positions were reported[15] Future Plans and Projects - The company plans to issue up to 30% of its total share capital, not exceeding 84,999,347 shares, to no more than 35 specific investors, aiming to raise a total of up to RMB 380 million for the intelligent production base project of new energy vehicle parts[19] - The company has signed an investment contract for the intelligent production base project in Wuhu City, Anhui Province, to meet local supply needs for automotive manufacturers[19] - As of the report date, the company has obtained land use rights and completed necessary pre-approval procedures for the project, which is currently under construction[20] Legal Matters - The company is involved in ongoing litigation regarding a contract dispute with Impression Dinosaur Cultural Arts Co., Ltd., with the outcome still uncertain[23] - The company has initiated legal proceedings against Huang and Lu, claiming fraud related to the transfer of 43.65% of its shares in Warner Company for RMB 171 million, based on misleading financial statements[24] Stock Options - The company implemented the first stock option incentive plan, granting a total of 10 million stock options, representing 3.53% of the total share capital at the time of the announcement[26] - Of the total options, 8.5 million were initially granted, accounting for 3% of the total share capital, while 1.5 million were reserved, representing 0.53% of the total share capital[26] - The first grant date for the stock options was set for May 19, 2025, with 850,000 options awarded to 108 eligible participants[27] - The second stock option incentive plan was approved, also granting 10 million stock options, with the same distribution of 8.5 million initial grants and 1.5 million reserved options[29] - The first grant date for the second plan was August 11, 2025, with 850,000 options awarded to 143 eligible participants[30] - The company completed the registration procedures for the first grant of stock options on September 18, 2025[27] Audit Information - The company received a standard unqualified audit opinion for the third quarter financial report[39] - The audit report was signed on October 30, 2025, by Da Xin Accounting Firm[39]

Financial Performance - The company's operating revenue for Q3 2025 was CNY 14,575,816,774, a decrease of 11.33% compared to the same period last year[6]. - The net profit attributable to shareholders for Q3 2025 was CNY 551,461,801, down 2.25% year-on-year, while the net profit for the first three quarters dropped by 60.20% to CNY 583,935,959[6][11]. - The average on-grid electricity price was CNY 473.34 per MWh, a decrease of CNY 59.92 per MWh or 11.26% year-on-year[10]. - The company achieved a cash flow from operating activities of CNY 6,789,804,495 for the year-to-date, down 37.52% compared to the previous year[6]. - Total operating revenue for the current period is ¥37.72 billion, a decrease of 11.8% from ¥42.52 billion in the previous period[19]. - Net profit for the current period is ¥871.49 million, a decline of 58.0% compared to ¥2.07 billion in the previous period[20]. - Operating profit decreased to ¥1.29 billion, down 54.4% from ¥2.83 billion in the previous period[20]. - Cash flow from operating activities is ¥6.79 billion, a decrease of 37.5% from ¥10.87 billion in the previous period[21]. Asset and Liability Management - The total assets at the end of Q3 2025 were CNY 182,315,970,300, reflecting a 4.09% increase from the end of the previous year[6]. - Current assets increased to CNY 33.07 billion from CNY 30.99 billion, marking a rise of about 6.7%[16]. - The company's cash and cash equivalents rose to CNY 17.10 billion, up from CNY 15.36 billion, indicating an increase of approximately 11.3%[16]. - Total liabilities amounted to CNY 144.85 billion, compared to CNY 139.19 billion at the start of the period, representing a growth of about 4.8%[17]. - The company's long-term borrowings increased to CNY 73.94 billion from CNY 69.54 billion, reflecting a rise of approximately 6.9%[17]. - The total equity attributable to shareholders reached CNY 23.43 billion, up from CNY 22.89 billion, indicating an increase of about 2.4%[18]. - The company reported a significant decrease in short-term borrowings, which fell to CNY 10.96 billion from CNY 14.11 billion, a reduction of approximately 22.8%[17]. Operational Efficiency and Market Conditions - The company reported a significant decline in gross profit margin due to increased competition and policy adjustments in the electricity market[11]. - The company is focusing on improving operational efficiency and has seen a rebound in on-grid electricity volume due to favorable conditions such as falling coal and gas prices[11]. - The company generated a total on-grid electricity of 352.06 billion kWh in Q3 2025, a 19.89% increase from Q2 2025, while the total for the first three quarters was 885.72 billion kWh, roughly unchanged year-on-year[10]. Research and Development - The company reported a decrease in research and development expenses to ¥630.51 million, down 16.3% from ¥753.72 million in the previous period[19]. Future Outlook and Strategic Initiatives - Future outlook indicates a projected revenue growth of 10% for Q4 2023, driven by increased demand for renewable energy solutions[24]. - The company plans to invest 300 million RMB in new technology development for smart grid solutions over the next two years[24]. - Market expansion efforts include entering two new provinces, aiming for a 5% market share increase in those regions by 2025[24]. - Guangdong Power is exploring potential acquisitions to enhance its renewable energy portfolio, targeting a 15% increase in capacity by 2024[24]. - The company has launched a new solar energy product line, expecting to contribute an additional 200 million RMB in revenue by the end of 2023[24]. - Strategic partnerships with local governments are expected to facilitate a 25% reduction in project approval times[24]. - The company is committed to achieving carbon neutrality by 2030, aligning with national energy policies[24].

Financial Performance - Q3 2025 revenue was CNY 91,755,888.57, a decrease of 20.20% year-over-year[5] - Net profit attributable to shareholders was CNY -12,940,457.14, a decline of 983.39% compared to the same period last year[5] - Basic and diluted earnings per share were both CNY -0.0494, reflecting a drop of 973.91% year-over-year[5] - Total operating revenue decreased to ¥213,389,337.27 from ¥228,153,276.65, representing a decline of approximately 6.7% year-over-year[16] - Net loss for the period was ¥31,924,798.22, compared to a net loss of ¥15,214,843.37 in the previous period, indicating a significant increase in losses[17] Cash Flow - Cash flow from operating activities showed a net outflow of CNY -116,276,598.58, a significant decrease of 6,550.95% year-to-date[5] - Operating cash inflow for the current period was CNY 220,660,209.83, an increase from CNY 205,163,254.62 in the previous period, reflecting a growth of approximately 2.4%[18] - Net cash outflow from operating activities was CNY -116,276,598.58, a significant decline compared to a net inflow of CNY 1,802,471.74 in the previous period[18] - Cash outflow for purchasing goods and services was CNY 223,194,868.42, significantly higher than CNY 103,029,784.61 in the previous period[18] - Cash paid to employees increased to CNY 80,133,027.58 from CNY 69,674,999.39, reflecting a rise of approximately 15%[18] Assets and Liabilities - Total assets at the end of the reporting period were CNY 399,192,891.66, down 2.44% from the previous year[5] - The company's total assets decreased to ¥399,192,891.66 from ¥409,186,773.37, a decline of approximately 2.4%[14] - Current liabilities increased to ¥361,737,247.39 from ¥336,050,410.51, an increase of about 7.6%[14] - The total liabilities rose to ¥362,420,563.37 from ¥340,489,646.86, reflecting an increase of approximately 6%[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 42,897[11] - Shareholders' equity attributable to shareholders decreased by 47.36% to CNY 35,425,333.83 compared to the end of the previous year[5] Operational Challenges - The decrease in net profit was primarily due to a 20.20% drop in revenue and a slight increase in fixed costs[9] - The company reported a significant increase in labor costs to improve human resource structure for future development[9] - The company’s cash flow from operating activities showed a significant negative shift, highlighting potential challenges in operational efficiency[18] Government Support - Government subsidies received during the period amounted to CNY 621,325.81, contributing to the overall financial performance[7] Investment Activities - Cash inflow from investment activities was CNY 60,766.00, down from CNY 718,400.00 in the previous period, indicating a decline of approximately 91.5%[18] - Cash outflow for investment activities was CNY 9,741,568.74, slightly higher than CNY 9,249,971.97 in the previous period[18] Inventory and Receivables - Accounts receivable decreased to ¥61,560,051.61 from ¥98,964,640.20, a decline of approximately 37.8%[13] - Inventory increased to ¥18,693,471.10 from ¥2,308,075.81, a substantial rise of about 711.5%[13]

Financial Performance - The company's operating revenue for the third quarter was ¥497,081,271.12, a decrease of 3.65% compared to the same period last year[4] - The total profit for the third quarter was -¥16,674,934.43, with a year-to-date profit of ¥11,059,706.30, reflecting a significant increase of 1,266.89% year-on-year[4] - The net profit attributable to shareholders for the third quarter was -¥2,437,249.27, while the year-to-date net profit was ¥24,640,374.94, an increase of 119.61% compared to the previous year[4] - The basic and diluted earnings per share for the third quarter were both -¥0.0008, while the year-to-date figures were ¥0.0078, showing a year-on-year increase of 136.36%[4] - Total operating revenue for the first three quarters of 2025 was CNY 1,809,411,026.87, down from CNY 2,401,872,835.33 in the same period of 2024, representing a decrease of approximately 24.6%[26] - The net profit attributable to shareholders of the parent company for the first three quarters of 2025 was CNY 24,640,374.94, compared to CNY 11,220,044.44 in 2024, showing an increase of approximately 119.5%[25] - The company reported a total profit of CNY 11,059,706.30 for the first three quarters of 2025, a significant increase from CNY 809,116.89 in the previous year[24] - The total comprehensive income for the first three quarters of 2025 was CNY 41,197,411.17, down from CNY 228,751,560.29 in 2024, indicating a decrease of about 82.0%[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥11,064,253,519.24, an increase of 0.78% from the end of the previous year[5] - The equity attributable to shareholders decreased to ¥5,799,508,176.13, down 3.71% from the previous year-end[5] - The company's total assets amounted to CNY 11,064,253,519.24, an increase from CNY 10,979,027,992.83 at the end of 2024[20] - Total liabilities as of September 30, 2025, were CNY 3,801,657,442.08, compared to CNY 3,464,282,597.71 at the end of 2024[21] - The company's equity attributable to shareholders was CNY 5,799,508,176.13, down from CNY 6,022,749,391.71 at the end of 2024[21] - Short-term borrowings increased to CNY 1,583,058,093.92 from CNY 1,304,042,585.63 year-over-year[21] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥156,396,673.89, reflecting a decrease of 135.05% compared to the same period last year[4] - Net cash flow from operating activities for the first three quarters of 2025 was -CNY 156,396,673.89, compared to CNY 446,258,897.73 in 2024, indicating a significant decline[26] - The cash and cash equivalents at the end of the period were CNY 4,009,475,304.33, up from CNY 3,458,763,556.53 in 2024, reflecting an increase of about 15.9%[27] - The company incurred a net cash outflow from investing activities of -CNY 23,674,555.79 in 2025, compared to a net inflow of CNY 613,984,380.89 in 2024[27] - The company’s total cash inflow from financing activities was CNY 1,584,881,111.98, compared to CNY 1,075,294,376.79 in 2024, marking an increase of approximately 47.3%[27] Shareholder Information - The total number of common shareholders at the end of the reporting period is 118,959[11] - Guangxi Investment Group Co., Ltd. holds 859,343,587 shares, accounting for 26.89% of total shares[11] - The company plans to repurchase shares at a price not exceeding RMB 3.80 per share, with a total repurchase amount between RMB 300 million and RMB 500 million[13] - As of August 25, 2025, the company completed the repurchase of 118,117,197 shares, representing 3.5649% of the total share capital, with a total expenditure of RMB 301,021,106.92[14] Product Development and Market Position - The company’s subsidiary received a total of RMB 10,365,548.61 in compensation from the Zhaoqing High-tech Zone Land Reserve Center during the first three quarters of 2025[16] - The company’s subsidiary, Chongqing Laimei Pharmaceutical Co., Ltd., received approval for a supplementary application for an injectable drug, enhancing its market competitiveness[17] - Guangxi Zhongheng Innovation Pharmaceutical Research Co., Ltd. acquired a patent for a drug technology for treating chronic heart failure for RMB 55 million[17] - The company received drug registration certificates for two products, Nicorandil tablets (5mg) and Ketorolac tromethamine injection (1ml:30mg), enhancing its product line[18] - The company plans to expand its product offerings and enhance its market presence through new drug registrations and technology transfers[18] Accounting Standards - The new accounting standards or interpretations will be implemented starting from 2025, affecting the financial statements from the beginning of that year[28]

Financial Performance - The company's operating revenue for the third quarter reached ¥2,026,903,912.14, representing a year-on-year increase of 120.55%[3] - The total profit for the third quarter was ¥811,342,079.47, showing a year-on-year growth of 103.93%[3] - The net profit attributable to shareholders for the third quarter was ¥635,504,516.56, an increase of 106.24% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥602,342,572.58, reflecting a decrease of 96.23% year-on-year[3] - The company reported a basic earnings per share of ¥0.11 for the third quarter, with a year-to-date figure of ¥0.31, reflecting a 121.43% increase[4] - Total operating revenue for the first three quarters of 2025 reached ¥6,038,106,644.30, a significant increase from ¥2,004,892,871.86 in the same period of 2024, representing a growth of approximately 201.5%[20] - Net profit attributable to shareholders of the parent company for the first three quarters of 2025 was ¥1,762,737,381.05, compared to ¥395,852,452.20 in 2024, marking an increase of about 345.5%[21] - The basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.31, compared to ¥0.14 in 2024, reflecting an increase of approximately 121.4%[21] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥189,324,970,981.32, which is a 94.76% increase compared to the end of the previous year[4] - The total liabilities of the company amounted to ¥136,797,889,132.39, up from ¥78,260,127,254.77 in the previous year, reflecting a growth of approximately 74.7%[18] - The total liabilities of the company as of September 30, 2025, were CNY 82,615,563,123.50, compared to CNY 77,047,868,352.91 at the end of 2024, representing an increase of approximately 7.0%[26] - The total assets of the company as of September 30, 2025, amounted to CNY 132,973,494,659.55, up from CNY 95,138,069,572.84 at the end of 2024, reflecting a growth of approximately 39.7%[25] Cash Flow - The company reported a net cash flow from financing activities of ¥1.55 billion, a significant turnaround from a negative cash flow of ¥1.21 billion in the previous year[11] - The company reported a net cash outflow from operating activities of ¥1,929,752,746.25 for the first three quarters of 2025, contrasting with a net inflow of ¥12,977,293,226.32 in the same period of 2024[22] - Investment activities generated a net cash inflow of ¥23,812,546,258.44 in the first three quarters of 2025, compared to ¥2,184,121,280.70 in 2024, indicating a substantial increase in investment returns[22] - The net cash flow from financing activities was CNY 1,554,458,012.22, a turnaround from a negative cash flow of CNY -1,208,618,564.39 in the previous year[24] - Cash inflow from financing activities totaled CNY 9.31 billion, an increase from CNY 7.45 billion in the previous year[31] Shareholder Information - Total number of common shareholders at the end of the reporting period was 91,934[13] - The largest shareholder, Wuxi Guolian Development (Group) Co., Ltd., holds 1,355,626,560 shares, representing 23.86% of total shares[13] - The top 10 shareholders collectively hold 38.52% of the company’s shares[14] Investment and Income - The significant growth in performance is attributed to the company's proactive market engagement and the inclusion of Minsheng Securities Co., Ltd. in the financial statements[3] - Fee and commission income surged by 145.34% to ¥2.91 billion, driven by increased brokerage and investment banking revenues[10] - Investment income improved to ¥2.80 billion, a notable recovery from a loss of ¥1.13 billion in the prior year[10] - The company's investment income for the first three quarters of 2025 was CNY 1,698,027,531.26, a significant improvement from a loss of CNY -1,263,983,681.97 in the same period of 2024[27] Goodwill and Derivatives - The goodwill increased to ¥14.07 billion, reflecting a 1,131.59% rise due to newly consolidated subsidiaries[9] - Derivative financial assets decreased by 53.51% to ¥429.17 million, primarily due to changes in the scale and fair value of derivative financial instruments[9]

Financial Performance - The company's operating revenue for Q3 2025 was ¥130,324,861.51, representing a year-on-year increase of 34.92%[4] - The total profit for the period was ¥7,833,088.23, a significant increase of 120.02% compared to the same period last year[4] - The net profit attributable to shareholders was ¥8,240,850.60, reflecting a year-on-year growth of 122.33%[4] - The net cash flow from operating activities for the year-to-date period increased by 318.01% to ¥167,916,974.54[4] - The company reported a net profit attributable to shareholders after deducting non-recurring gains and losses of -¥50,963,165.17 for the current period[4] - Total operating revenue for the first three quarters of 2025 was CNY 317,263,391.49, a decrease of 4.45% compared to CNY 331,748,661.02 in the same period of 2024[23] - Net profit for the first three quarters of 2025 was a loss of CNY 19,083,975.72, an improvement from a loss of CNY 126,343,497.15 in the same period of 2024[24] - The total comprehensive income attributable to the parent company was -21,316,086.75 CNY, compared to -116,636,635.58 CNY in the previous year[26] - The company reported a basic earnings per share of -0.0105 CNY, an improvement from -0.0620 CNY in the previous year[26] Assets and Liabilities - The total assets at the end of the reporting period were ¥8,141,912,237.10, an increase of 3.64% from the previous year[5] - The company's total assets increased to CNY 8,141,912,237.10 from CNY 7,855,783,088.36, representing a growth of 3.64%[20] - Total liabilities rose to CNY 2,606,118,301.13, up from CNY 2,406,161,351.56, indicating an increase of 8.32%[20] - The company's equity attributable to shareholders increased to CNY 5,246,752,724.22 from CNY 5,176,555,970.37, a rise of 1.35%[21] Cash Flow - As of September 30, 2025, the company's cash and cash equivalents amount to approximately 1.06 billion RMB, down from 1.21 billion RMB at the end of 2024[18] - The net cash flow from operating activities was 167,916,974.54 CNY, a significant improvement from -77,021,795.43 CNY in the same period last year[28] - Cash received from the sale of goods and services was 318,780,429.55 CNY, down from 352,427,763.48 CNY year-over-year[27] - The net cash flow from investing activities was -218,845,534.32 CNY, compared to -167,000,951.71 CNY in the previous year[28] - Cash and cash equivalents at the end of the period totaled 1,063,497,022.09 CNY, slightly down from 1,058,028,439.37 CNY year-over-year[28] - Total cash outflows from operating activities were 213,505,946.62 CNY, compared to 450,915,116.23 CNY in the same period last year[28] - The company received 468,697,813.05 CNY from investment recoveries, a significant increase from 8,558,056.85 CNY in the previous year[28] - The company paid 138,182,445.05 CNY in dividends and interest, up from 74,137,943.33 CNY year-over-year[28] Investments and Acquisitions - The company completed the acquisition of Beijing Shudu Information Technology Co., marking its entry into the advanced digital chip industry[10] - The company invested a total of 854.45 million RMB to acquire a 62.98% stake in Beijing Shudu Information Technology Co., making it a subsidiary[16] Real Estate Operations - The real estate business achieved a total contract sales area of 0.82 million square meters, generating contract sales revenue of ¥122.47 million from January to September 2025[10] - The company's investment property sales amounted to 0.48 million square meters, generating revenue of ¥38.67 million[10] - The total leasable area for Beijing Wantong Center is 35,349.11 square meters with a rental rate of 185-300 RMB/sqm and an occupancy rate of 82%, generating an operating income of 49.92 million RMB[12] - Shanghai Wantong Center has a total leasable area of 79,929.63 square meters, an occupancy rate of 60%, and an operating income of 46.01 million RMB, with rental rates between 150-175 RMB/sqm[12] - Tianjin Wantong Center's total leasable area is 93,789.99 square meters, with a 76% occupancy rate and operating income of 29.87 million RMB, rental rates range from 59-351 RMB/sqm[12] - Hangzhou Future Technology City has a total leasable area of 38,520.77 square meters, an occupancy rate of 59%, and operating income of 16.02 million RMB, with rental rates between 45-68 RMB/sqm[12] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 132,113[14] - The largest shareholder, Jia Hua Dong Fang Holdings, holds 364,389,141 shares, accounting for 19.28% of total shares, with 361,084,770 shares pledged[14] - Wantong Investment Holdings holds 278,249,789 shares, representing 14.72% of total shares, with 263,348,560 shares pledged[14] Research and Development - Research and development expenses significantly decreased to CNY 257,629.27 from CNY 6,508,392.64, a reduction of 96.04%[24] Future Strategy - The company plans to focus on market expansion and new product development as part of its future strategy[25] Accounting Standards - The company did not apply new accounting standards for the current reporting period[29]