Financial Performance - The company's operating revenue for Q3 2025 reached ¥2,260,023,807.49, representing an 18.30% increase year-over-year[5] - Net profit attributable to shareholders was ¥41,626,070.53, a significant increase of 167.66% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was ¥33,811,092.57, reflecting a 150.10% increase year-over-year[5] - Total operating revenue for the current period reached ¥6,413,306,006.06, an increase of 18.99% compared to ¥5,388,853,221.64 in the previous period[18] - Operating profit for the current period was ¥421,289,597.65, a significant recovery from a loss of ¥132,563,061.83 in the previous period[18] - Net profit for the current period was ¥336,849,106.02, compared to a net loss of ¥157,866,497.94 in the previous period, indicating a turnaround[19] - Basic earnings per share for the current period were ¥0.07, recovering from a loss of ¥0.04 in the previous period[19] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥21,780,224,178.60, showing a 2.01% increase from the end of the previous year[5] - The company's total assets as of September 30, 2025, amounted to CNY 21,780,224,178.60, an increase from CNY 21,351,740,396.51 at the beginning of the period, reflecting a growth of approximately 2%[17] - Current assets decreased to CNY 6,980,080,691.48 from CNY 7,623,377,027.97, representing a decline of about 8.4%[16] - Total liabilities rose to CNY 12,531,955,446.78 from CNY 12,414,678,388.15, indicating a slight increase of around 1%[17] - The company's long-term borrowings increased to CNY 3,786,214,551.00 from CNY 3,228,784,365.68, reflecting a growth of approximately 17.2%[17] - The total equity attributable to the parent company increased to CNY 8,211,716,142.57 from CNY 7,954,882,796.45, showing an increase of about 3.2%[17] Cash Flow - Cash flow from operating activities for the year-to-date reached ¥1,462,734,653.67, marking a 56.15% increase[5] - The company reported a net cash flow from operating activities of ¥1,462,734,653.67, up from ¥936,725,405.88 in the previous period, reflecting improved operational efficiency[21] - Net cash flow from financing activities was -572,776,171.18, compared to -1,952,117,138.89 in the previous period, indicating an improvement[22] - Total cash and cash equivalents at the end of the period were 943,243,564.65, down from 1,682,180,941.04 year-over-year[22] - The net increase in cash and cash equivalents was -818,126,507.07, compared to -1,905,597,518.88 in the previous year[22] - The impact of exchange rate changes on cash and cash equivalents was 3,605,499.91, down from 5,109,486.40[22] Expenses and Investments - Research and development expenses were ¥243,037,097.34, down from ¥295,356,966.72, indicating a potential shift in investment strategy[18] - The company recorded a decrease in sales expenses to ¥121,082,131.89 from ¥143,600,757.89, suggesting cost management efforts[18] - The company has ongoing investments in construction projects, with "construction in progress" rising to CNY 922,496,149.13 from CNY 343,572,502.41, indicating a substantial increase of about 168%[17] - Investment income increased by 69.18%, attributed to a decrease in losses from joint venture investments[10] Tax and Liabilities - The company experienced a 236.32% increase in income tax expenses, driven by higher profits leading to increased tax liabilities[10] - The company reported a significant increase in accounts payable, rising to CNY 1,433,744,961.67 from CNY 1,273,877,170.95, which is an increase of approximately 12.6%[17] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[20] Accounting and Reporting - The company has not audited its third-quarter financial report[23] - The company will implement new accounting standards starting in 2025[24]

Financial Performance - The company's operating revenue for Q3 2025 was CNY 1,045,965,372.81, representing a 2.15% increase compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2025 was CNY 168,800,888.11, showing a significant increase of 24.87% year-on-year[5] - The total operating revenue for the period was ¥3,866,319,450.55, a decrease of 6.9% compared to ¥4,152,655,668.56 in the previous period[27] - The operating profit was reported at -¥307,550,510.04, slightly improved from -¥321,754,264.11 in the previous period[28] - The net profit for the period was -¥315,323,778.56, compared to -¥328,102,026.81 in the same period last year, indicating a reduction in losses[28] - The net profit attributable to the parent company was -311,693,743.58 CNY, compared to -324,475,511.41 CNY in the previous period, indicating a slight improvement[29] - The total comprehensive income amounted to -315,323,778.56 CNY, compared to -328,102,026.81 CNY in the previous period[29] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was CNY 425,790,300, reflecting a decrease of 20.16% compared to the previous year[5] - Cash inflows from operating activities totaled 3,654,448,664.50 CNY, down from 3,936,322,684.94 CNY in the previous period[30] - The net cash flow from operating activities was -425,790,337.80 CNY, an improvement from -533,323,350.54 CNY in the previous period[31] - Cash inflows from financing activities were 5,427,714,085.30 CNY, compared to 4,227,363,752.92 CNY in the previous period[32] - The net cash flow from financing activities was 383,466,795.63 CNY, up from 350,169,740.37 CNY in the previous period[32] - The ending cash and cash equivalents balance was 238,849,142.25 CNY, down from 259,960,090.81 CNY in the previous period[32] - The company reported a decrease in cash received from sales of goods and services, totaling 3,292,322,831.92 CNY, down from 3,841,133,367.00 CNY in the previous period[30] Assets and Liabilities - The total assets as of September 30, 2025, were CNY 10,267,921,935.19, which is a decrease of 9.36% from the end of the previous year[6] - The total liabilities decreased to ¥8,933,781,565.34 from ¥9,682,205,297.96, reflecting a reduction of 7.7%[25] - The company's cash and cash equivalents decreased to ¥1,323,153,916.19 from ¥1,902,101,728.59, a decline of 30.3%[23] - The inventory level was reported at ¥1,643,705,070.48, down from ¥1,914,883,544.16, indicating a decrease of 14.1%[24] - The long-term borrowings decreased significantly to ¥246,460,000.00 from ¥1,024,955,018.00, a reduction of 76.0%[25] Shareholder Equity - The company’s total equity attributable to shareholders decreased by 18.78% to CNY 1,329,629,343.13[6] - Minority shareholders' equity decreased by 53.00% to ¥4,511,026.72 due to losses from non-wholly-owned subsidiaries[12] Research and Development - The company's research and development expenses increased by 38.21% year-on-year, amounting to CNY 331,285,419.01[11] Regulatory and Legal Matters - The company received a warning from the regulatory authority, resulting in a change of stock name to "ST Yun Dong" and a trading limit reduction from 10% to 5%[18] - The company initiated a counterclaim against Mingzhi Technology for a compensation request of ¥40,162,948.38, with the court set to hear the case on November 12, 2025[21] Other Income and Expenses - Investment income dropped by 407.67% to -¥963,138.41, primarily due to increased discount interest on receivable notes[14] - Fair value change income decreased by 42.38% to ¥1,254,078.37, attributed to reduced interest income from trading financial assets[14] - Credit impairment losses improved by 93.20% to -¥704,467.15, due to a decrease in provisions for bad debts on accounts receivable[14] - Asset disposal income increased by 122.11% to ¥247,783.91, resulting from gains on asset disposals[14] - Non-operating income surged by 401.77% to ¥542,929.98, driven by an increase in non-routine operating receipts[14] - Non-operating expenses skyrocketed by 7004.84% to ¥6,793,135.18, mainly due to increased non-routine payments[14] - Income tax expenses decreased by 76.05% to ¥1,523,063.32, reflecting a reduction in deferred tax recognition[14] Earnings Per Share - The company's basic earnings per share improved to -0.088, a 24.79% increase compared to -0.117 in the same quarter last year[6] - The basic and diluted earnings per share were both -0.162, an improvement from -0.169 in the previous period[29]

深圳市芭田生态工程股份有限公司 2025 年第三季度报告 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。 证券代码：002170 证券简称：芭田股份 公告编号：25-84 深圳市芭田生态工程股份有限公司 3.第三季度财务会计报告是否经过审计 □是 否 1 深圳市芭田生态工程股份有限公司 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） | 1,265,553,390.63 | 43.45 ...

Financial Performance - Q3 2025 revenue was CNY 153,255,822.34, a decrease of 5.77% year-over-year[5] - Net profit attributable to shareholders was CNY 19,089,030.79, down 32.37% compared to the same period last year[5] - Basic earnings per share decreased by 33.33% to CNY 0.28[5] - Total operating revenue for the current period was CNY 435,031,468.89, a decrease of 2.54% from CNY 446,166,890.29 in the previous period[20] - Net profit for the current period was CNY 61,737,322.74, down 23.5% from CNY 80,695,894.23 in the previous period[21] - Basic and diluted earnings per share decreased to CNY 0.91 from CNY 1.19 in the previous period[22] Assets and Liabilities - Total assets at the end of Q3 2025 were CNY 1,227,416,091.31, a decline of 3.59% from the end of 2024[5] - Total assets decreased to CNY 1,227,416,091.31 from CNY 1,273,141,362.00, reflecting a decline of 3.6%[18] - Total liabilities decreased to CNY 388,960,573.56 from CNY 397,143,166.99, a reduction of 2.97%[18] - Current assets totaled CNY 884,340,064.12, down from CNY 929,575,056.57, indicating a decrease of 4.85%[18] - Non-current assets remained relatively stable at CNY 343,076,027.19, slightly down from CNY 343,566,305.43[18] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 78,560,673.25, an increase of 34.47%[5] - Operating cash inflow totaled $502.47 million, an increase of 4.7% from $479.16 million in the previous period[24] - Net cash flow from operating activities reached $78.56 million, up 34.5% compared to $58.42 million last year[25] - Investment cash inflow was $732.45 million, significantly higher than $550.59 million in the prior period, marking a 32.9% increase[25] - Net cash flow from investment activities was -$88.87 million, worsening from -$58.96 million in the previous period[25] - Cash inflow from financing activities amounted to $281.03 million, up from $235 million, reflecting a 19.6% increase[25] - Net cash flow from financing activities decreased to -$99.52 million from a positive $49.25 million last year[25] - The ending cash and cash equivalents balance was $54.74 million, down from $83.35 million in the previous period[25] - The company received $725 million related to other investment activities, a substantial increase from $540.1 million last year[25] - Cash paid for purchasing goods and services was $254.96 million, slightly up from $248.99 million, indicating a 2.4% increase[25] Shareholder Information - The total number of common shareholders at the end of the reporting period is 5,268[11] - The largest shareholder, Taishan Aoda Investment Co., Ltd., holds 44.11% of shares, totaling 29,997,000 shares[11] - Li Qingquan, a natural person, holds 22.06% of shares, totaling 15,000,000 shares, with 11,250,000 shares under lock-up[11] - The company distributed a cash dividend of RMB 5.80 per 10 shares, totaling RMB 39.44 million, based on a total share capital of 68,000,000 shares[14] - The total number of restricted shares at the end of the period is 11,252,250 shares[13] - The company has no preferred shareholders or changes in restricted shares during the reporting period[12][13] - The company has not engaged in any share lending or borrowing activities during the reporting period[11] Operational Changes - Operating expenses increased by 47.54% due to the scrapping of a batch of machinery[10] - The company experienced a 51.78% reduction in prepayments, mainly due to decreased advertising expenses[10] - The fair value change income for the year-to-date was CNY 3,594,964.90, an increase of 55.24%[10] - The company did not undergo an audit for the third quarter financial report[26] - The company plans to focus on market expansion and new product development in the upcoming quarters[23]

Financial Performance - The company's operating revenue for Q3 2025 was ¥212,858,413.38, representing a 3.98% increase year-over-year, while the year-to-date revenue reached ¥601,780,766.49, up 9.51% compared to the same period last year[5]. - Net profit attributable to shareholders for Q3 2025 was ¥8,954,101.10, a significant increase of 47.59% year-over-year, but the year-to-date net profit decreased by 17.79% to ¥13,656,686.31[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥7,435,692.94 for Q3 2025, up 68.83% year-over-year, while the year-to-date figure was ¥10,975,315.62, down 22.20%[5]. - Total operating revenue for the period reached ¥601,780,766.49, an increase of 9.1% compared to ¥549,530,009.47 in the previous period[19]. - Total operating costs amounted to ¥574,420,918.86, up from ¥519,511,738.15, reflecting a rise of 10.6%[19]. - Net profit for the period was ¥13,656,686.31, a decrease of 17.5% from ¥16,611,937.23 in the prior period[20]. - Basic and diluted earnings per share were both ¥0.0759, down from ¥0.0923 in the previous period[21]. Assets and Liabilities - The company's total assets at the end of Q3 2025 were ¥879,777,166.19, a decrease of 9.58% from the end of the previous year[5]. - Total assets decreased to ¥879,777,166.19 from ¥972,935,829.14, a decline of 9.6%[18]. - The company's total liabilities decreased by 9.58% compared to the end of the previous year, indicating improved financial stability[5]. - Total liabilities decreased to ¥350,680,522.71 from ¥457,495,871.97, a reduction of 23.4%[18]. - Current liabilities decreased to ¥342,644,939.03 from ¥448,427,353.96, a decline of 23.6%[18]. - Non-current assets totaled ¥351,903,273.26, down from ¥371,385,831.03, a decrease of 5.0%[18]. Cash Flow - Cash flow from operating activities for the year-to-date period was ¥31,093,430.98, reflecting a 59.71% increase[5]. - The weighted average return on equity for Q3 2025 was 1.71%, an increase of 0.58% compared to the previous year[5]. - The company reported a significant increase in cash received from other operating activities, amounting to ¥54,725,282.96, which is a 2642.16% increase year-over-year[10]. - Cash and cash equivalents increased to ¥93,144,670.39 from ¥68,299,677.06, representing a growth of approximately 36.4%[16]. - Net cash flow from operating activities was $31.09 million, up 59.6% from $19.47 million year-over-year[24]. - Cash received from sales of goods and services was $610.67 million, an increase from $561.84 million year-over-year[23]. - Cash outflow from investing activities was $99.35 million, significantly higher than $6.44 million in the prior period[24]. - Cash inflow from financing activities was $266.27 million, down from $315.69 million in the previous period[24]. - The ending cash and cash equivalents balance was $93.14 million, down from $127.47 million in the previous period[24]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 10,428[12]. - The largest shareholder, Sun Ruiliang, holds 23.04% of shares, totaling 41,474,532 shares, with 1,000,000 shares frozen[12]. - The second largest shareholder, Wuzhou Dongtai State-owned Assets Management Co., Ltd., holds 18.50% of shares, totaling 33,296,288 shares, with 15,577,156 shares frozen[13]. - The company has a total of 10 major shareholders, none of whom are involved in margin trading[12]. Other Information - The company has not yet received performance compensation for the years 2022 and 2023, and is monitoring the situation closely[14]. - As of October 15, 2025, the controlling shareholder has completed additional pledge registration for part of its shares[14]. - The company has received an arbitration application regarding performance commitments for the year 2023[14]. - Research and development expenses were ¥22,319,440.19, slightly up from ¥22,121,518.98, indicating a growth of 0.9%[19]. - Other income for the period was ¥4,304,288.73, down from ¥5,063,357.38, a decrease of 15.0%[20]. - The company did not undergo an audit for the third quarter financial report[25].

Financial Performance - The company's operating revenue for Q3 2025 was ¥418,455,361.34, representing a 4.38% increase year-over-year[5] - Net profit attributable to shareholders for the same period was ¥39,661,464.57, up 6.48% compared to the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 10.37% to ¥39,096,100.46[5] - The company's basic earnings per share for Q3 2025 was ¥0.21, reflecting a 5.00% increase year-over-year[5] - Net profit attributable to shareholders of the parent company was ¥160,855,461.62, compared to ¥130,133,251.31 in the previous period, representing a significant increase of 23.6%[21] - Basic and diluted earnings per share both stood at ¥0.85, up from ¥0.68 in the previous period[21] - The total comprehensive income for the period was ¥160,750,607.33, compared to ¥129,160,360.55 in the previous period, showing an increase of 24.5%[21] Cash Flow - Cash flow from operating activities showed a significant increase of 349.30%, reaching ¥101,623,576.45 year-to-date[11] - Cash inflow from operating activities totaled ¥1,360,707,644.29, compared to ¥1,263,177,179.89 in the previous period, indicating a growth of 7.7%[22] - The net cash flow from operating activities was $101,623,576.45, a significant increase from $22,618,052.09 in the previous period, indicating strong operational performance[23] - The company reported a total cash outflow from operating activities of $1,259,084,067.84, slightly up from $1,240,559,127.80, indicating consistent operational cash demands[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,330,857,498.37, a 0.66% increase from the end of the previous year[5] - Total current assets amount to 2,785,704,778.61 yuan, slightly down from 2,788,565,974.97 yuan at the beginning of the period[17] - Total liabilities decreased to ¥1,050,721,435.74 from ¥1,129,086,473.20, a reduction of approximately 6.9%[18] - Total equity attributable to shareholders of the parent company increased to ¥2,264,417,716.19 from ¥2,164,030,435.91, reflecting a growth of 4.6%[18] Investments - The company reported a significant decrease in investment income, with a loss of ¥6,879,029.08 in the previous year turning into a gain of ¥2,923,581.11 this year, marking a 142.50% improvement[10] - The net cash flow from investing activities showed a drastic decline of 3792.33%, amounting to -¥215,629,199.38, mainly due to increased time deposits[11] - Cash outflows from investing activities totaled $276,221,380.63, compared to $122,612,106.09 in the prior period, reflecting increased investment efforts[23] - The net cash flow from investing activities was -$215,629,199.38, a decline from $5,839,928.20, suggesting higher expenditures on investments[23] - The company received $48,147,023.58 from other investment-related cash activities, a significant increase from $11,580,000.00, highlighting improved investment returns[23] Shareholder Information - Total number of common shareholders at the end of the reporting period is 13,586[13] - The largest shareholder, China CITIC Limited, holds 62.70% of shares, totaling 119,225,000 shares[13] - The second-largest shareholder, CITIC Investment Holdings, owns 10.80% of shares, amounting to 20,536,364 shares[13] Operational Costs - Total operating costs amounted to ¥1,061,949,767.07, up from ¥1,033,863,242.64, reflecting a growth of 2.6%[20] - Research and development expenses rose to ¥8,869,709.00 from ¥7,838,736.61, marking an increase of 13.2%[20] Inventory and Receivables - Accounts receivable increased by 33.95% to ¥82,289,512.30, primarily due to concentrated sales collections expected in Q4[9] - Accounts receivable increased to 82,289,512.30 yuan from 61,434,347.04 yuan, reflecting a growth of approximately 33.5%[16] - Inventory stands at 504,644,489.70 yuan, up from 495,564,397.11 yuan, indicating an increase of about 1.2%[17] Financial Reporting - The financial report for the third quarter was not audited, which may impact the reliability of the reported figures[25] - The company has not disclosed any new product developments or market expansion strategies in the current report[15]

Financial Performance - Revenue for Q3 2025 reached ¥834,710,131.93, an increase of 6.63% compared to the same period last year[5] - Net profit attributable to shareholders decreased by 11.10% to ¥59,416,773.44, while net profit excluding non-recurring items fell by 21.52% to ¥45,124,453.92[5] - Year-to-date revenue decreased by 9.02% to ¥2,585,169,289.18, and year-to-date net profit attributable to shareholders dropped by 46.19% to ¥150,419,327.72[5] - Basic and diluted earnings per share for Q3 2025 were both ¥0.0399, down 11.92% year-on-year[5] - Net profit for the current period is ¥169,699,712.30, a decline of 40.2% compared to ¥284,175,510.99 in the previous period[22] - The net profit attributable to the parent company shareholders decreased to ¥150,419,327.72 from ¥279,550,363.23, representing a decline of approximately 46%[23] - The total comprehensive income amounted to ¥169,889,110.15, down from ¥284,347,290.71, indicating a decrease of about 40%[23] - Basic and diluted earnings per share fell to ¥0.1011 from ¥0.1889, a reduction of approximately 47%[23] Assets and Liabilities - Total assets at the end of Q3 2025 were ¥6,288,460,474.03, a decrease of 6.00% from the end of the previous year[5] - Total assets amount to ¥6,288,460,474.03, a decrease from ¥6,689,931,377.01 in the previous period[19] - Total liabilities are ¥2,051,818,288.38, down from ¥2,535,630,553.32 in the previous period[19] - Current assets total ¥4,770,430,081.44, a decrease of 6.5% from ¥5,102,820,970.08 in the previous period[19] - Long-term equity investments increased to ¥76,289,657.86 from ¥58,734,859.78, reflecting a growth of 29.9%[19] - Inventory decreased to ¥1,370,394,727.87 from ¥1,529,266,983.96, a reduction of 10.4%[19] Cash Flow - Cash flow from operating activities for the year-to-date period was ¥73,155,477.31, down 69.03% compared to the same period last year[5] - Cash flow from operating activities generated a net cash inflow of ¥73,155,477.31, significantly lower than the previous year's ¥236,246,067.86, a decline of about 69%[25] - Cash inflow from investment activities totaled ¥2,632,940,253.08, compared to ¥1,442,176,640.40 in the prior period, marking an increase of approximately 83%[25] - The net cash flow from investment activities was negative at -¥52,640,426.54, an improvement from -¥512,012,502.86 year-over-year[25] - The net cash flow from financing activities was -¥7,607,090.41, compared to -¥331,647,689.61 in the previous year, indicating a significant reduction in cash outflow[25] - The ending balance of cash and cash equivalents increased to ¥502,896,002.94 from ¥781,660,171.31, reflecting a decrease of about 36%[26] - The company received cash from sales of goods and services amounting to ¥1,512,242,354.09, down from ¥1,643,430,117.45, a decrease of approximately 8%[24] - The company reported a cash inflow of ¥10,099,539.72 from tax refunds, an increase from ¥5,023,418.84 in the previous period, representing a growth of about 101%[25] Shareholder Information - The total number of common stock shareholders at the end of the reporting period was 47,742[11] - The largest shareholder, Tan Rongsheng, holds 12.65% of the shares, with a total of 186,895,486 shares, of which 80 million are pledged[11] - The second-largest shareholder, Tan Ke, holds 10.48% of the shares, totaling 154,836,745 shares, with 123,358,885 shares marked as pledged[11] - The company has not identified any other related party relationships or concerted actions among shareholders beyond the family ties among the top three shareholders[11] Operational Highlights - The company reported a continuous improvement in quarterly operating performance, with third-quarter results showing growth compared to the second quarter[14] - The company achieved a net profit attributable to shareholders of 150.42 million yuan for the first three quarters of 2025, a year-on-year decrease of 46.19% due to declining investment sentiment in the polysilicon industry and a drop in orders for new energy equipment[14] - As of the end of the reporting period, the total order amount for molten salt energy storage electric heaters was approximately 120 million yuan[14] - The company is set to deliver silicon-carbon anode material equipment in mid to late November 2023[14] - The development of the robotic thermal management system is progressing smoothly, with some components sent to leading companies in the embodied robotics industry for validation[15] Non-Recurring Items - Non-recurring gains and losses for Q3 2025 totaled ¥14,292,319.52, a decrease from ¥27,820,237.21 year-to-date[6] - The company experienced a 53.79% decline in income tax expenses, attributed to a decrease in taxable income[9] - The company reported a financial expense of -¥875,299.94, compared to -¥9,048,681.77 in the previous period, indicating improved financial management[22]

Financial Performance - The company's revenue for Q3 2025 was ¥1,056,420,106.16, representing a decrease of 11.35% compared to the same period last year[4] - The net profit attributable to shareholders for Q3 2025 was ¥37,596,690.45, down 60.67% year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥31,693,894.69, a decline of 64.10% compared to the previous year[4] - The basic earnings per share for Q3 2025 was ¥0.16, a decrease of 60.00% year-on-year[4] - Total operating revenue decreased to ¥2,456,612,892.75 from ¥2,764,740,401.63, representing a decline of approximately 11.1% year-over-year[18] - Net profit for the period was ¥77,119,680.86, down from ¥239,970,744.05, indicating a decrease of about 67.9% compared to the previous year[18] - The total comprehensive income for the period was ¥68,913,476.80, down from ¥233,206,890.64, indicating a decline of approximately 70.5%[19] Assets and Liabilities - The total assets as of September 30, 2025, were ¥4,642,052,893.28, down 6.00% from the end of the previous year[4] - Total assets decreased from 4,938,201,873.01 RMB to 4,642,052,893.28 RMB, a reduction of approximately 6%[16] - Total liabilities decreased to ¥1,325,001,068.18 from ¥1,385,307,649.46, reflecting a reduction of approximately 4.4%[17] - The company's total equity decreased to ¥3,317,051,825.10 from ¥3,552,894,223.55, a decline of approximately 6.6%[17] Cash Flow - The cash flow from operating activities for the first nine months of 2025 was ¥125,819,895.39, a decrease of 57.92% compared to the same period last year[10] - Cash inflow from operating activities was ¥2,738,628,538.90, down from ¥3,129,807,511.80, a decline of about 12.5% year-over-year[20] - The net cash flow from operating activities was $125.82 million, a decrease of 57.9% compared to $299.03 million in the previous period[21] - Cash outflow from investing activities totaled $1.55 billion, down from $1.67 billion, resulting in a net cash flow of -$61.50 million[21] - Cash inflow from financing activities was $92.73 million, a slight decrease from $97.42 million, leading to a net cash flow of -$372.99 million[21] - The total cash and cash equivalents at the end of the period were $1.39 billion, down from $1.63 billion[21] Shareholder Information - Total number of common shareholders at the end of the reporting period is 16,491[12] - The largest shareholder, Hongdacheng Co., Ltd., holds 17.32% of shares, totaling 40,982,799 shares[12] - The number of shares held by the top ten shareholders is significant, with the top three holding a combined total of 60.96%[12] Expenses and Costs - The company reported a significant increase in tax expenses, with a rise of 232.28% in taxes and additional fees compared to the previous year[9] - The company’s long-term prepaid expenses decreased by 42.80% to ¥17,621,857.46 due to ongoing amortization of renovation costs[8] - The company’s cash paid for employee benefits was $399.07 million, an increase from $384.50 million[21] - Research and development expenses were ¥134,866,778.28, slightly down from ¥139,166,061.26, showing a decrease of about 3.3%[18] Asset Management - The company experienced a 72.76% decrease in asset disposal gains, amounting to ¥1,662,632.13 for the first nine months of 2025[9] - The company’s non-current assets decreased from 1,420,670,073.58 RMB to 1,360,289,918.05 RMB, a decline of about 4.2%[16] - The company’s inventory decreased from 778,041,967.75 RMB to 748,939,931.22 RMB, a decrease of approximately 3.7%[16] - The company's cash and cash equivalents decreased from 1,737,462,389.54 RMB to 1,401,999,595.90 RMB, a decline of approximately 19.3%[16] Borrowings - The company’s short-term borrowings increased by 35.35% to ¥65,734,733.23, attributed to new borrowings not yet due for repayment[8] - The company's long-term borrowings decreased to ¥3,270,656.32 from ¥4,495,953.57, a reduction of about 27.2%[17] Share Acquisition - The company plans to acquire a total of 59,159,978 shares, which represents 25% of the total shares, from major shareholders[14] - The company has committed to not seeking control of the listed company as part of the share transfer agreement[14]

Financial Performance - The company's revenue for Q3 2025 was ¥101,563,135.16, a decrease of 11.74% compared to the same period last year[5] - Net profit attributable to shareholders was ¥6,805,837.84, down 50.23% year-on-year[5] - The basic earnings per share decreased by 42.86% to ¥0.04[5] - Total operating revenue for the period reached ¥321,922,176.19, an increase of 16.74% compared to ¥275,725,284.81 in the previous period[25] - Net profit for the period was ¥38,991,410.17, representing a 14.99% increase from ¥34,098,572.69 in the prior period[26] - Basic and diluted earnings per share increased to CNY 0.21 from CNY 0.19, representing a growth of 10.5%[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥656,963,420.66, an increase of 5.40% from the end of the previous year[5] - The company's total assets increased to ¥656,963,420.66 from ¥623,296,774.97, marking a growth of 5.39%[22] - Current assets totaled ¥423,919,915.59, up from ¥396,965,803.07, indicating an increase of 6.00%[20] - The total liabilities slightly decreased to ¥102,813,749.34 from ¥102,962,302.48, a decline of 0.14%[23] - The equity attributable to shareholders increased to ¥554,149,671.32 from ¥520,334,472.49, reflecting a growth of 6.48%[23] Cash Flow - Cash flow from operating activities for the year-to-date was ¥39,636,186.90, up 38.39%[5] - The net cash flow from operating activities increased by 38.39% to ¥39,636,186.90 in the first nine months of 2025, compared to ¥28,640,696.52 in the same period of 2024, primarily due to increased revenue and bill discounting[13] - Cash inflow from operating activities totaled CNY 248,949,305.34, compared to CNY 223,496,216.20 in the previous period, marking an increase of 11.4%[28] - Cash outflow from operating activities was CNY 209,313,118.44, up from CNY 194,855,519.68, which is an increase of 7.4%[28] - The net cash flow from investing activities decreased significantly by 1,475.96% to -¥16,524,475.55, attributed to an increase in the difference between purchased financial products and matured recoveries[13] - The net cash flow from financing activities improved by 173.97% to ¥9,434,828.08, mainly due to increased bank loans during the reporting period[13] - The net cash flow from financing activities was CNY 9,434,828.08, a significant improvement from a negative CNY -12,755,408.32 in the previous period[29] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 21,993[15] - The largest shareholder, Xusheng Asia Investment Co., Ltd., holds 24.52% of the shares, amounting to 44,864,400 shares[15] - The second-largest shareholder, Tang Qiqing, holds 5.47% of the shares, totaling 10,008,279 shares, with 7,506,209 shares under lock-up[15] Management and Governance - The company completed the election of the sixth board of directors on July 25, 2025, and appointed senior management personnel[18] - The actual controller, Tang Qiqing, received an administrative penalty from the China Securities Regulatory Commission, including a fine of ¥1.5 million, due to a disclosure violation[19] Research and Development - Research and development expenses increased by 36.72% to ¥21,946,675.15 for the first nine months of 2025[11] - Research and development expenses for the period were ¥21,946,675.15, compared to ¥16,052,789.81 in the previous period, an increase of 36.55%[25] Comprehensive Income - The total comprehensive income for the period reached CNY 38,739,632.63, an increase from CNY 33,949,387.34 in the previous period, reflecting a growth of approximately 11.8%[27] Inventory and Cash Management - Inventory decreased to ¥79,029,476.31 from ¥99,279,297.28, a reduction of 20.41%[20] - The company's cash and cash equivalents rose to ¥119,735,288.89 from ¥87,815,155.76, an increase of 36.36%[20] - The ending cash and cash equivalents balance was CNY 119,589,664.64, up from CNY 95,423,616.65, reflecting an increase of 25.3%[29] - The company’s cash flow from operating activities showed strong performance, indicating effective management and operational efficiency[28]

Financial Performance - The company's revenue for Q3 2025 reached ¥902,027,920.61, representing a year-over-year increase of 30.72%[5] - Net profit attributable to shareholders was ¥92,829,784.04, up 38.68% compared to the same period last year[5] - The net profit excluding non-recurring gains and losses increased by 62.68% to ¥85,802,669.67[5] - The basic earnings per share for the quarter was ¥0.46, reflecting a growth of 39.39% year-over-year[5] - Total revenue for the third quarter reached ¥2,397,791,920.73, an increase of 6.63% compared to ¥2,248,651,846.83 in the previous year[28] - The net profit for the current period is CNY 259,507,645.73, an increase from CNY 251,937,817.59 in the previous period, representing a growth of approximately 3.5%[29] - The basic earnings per share for the current period is CNY 1.28, up from CNY 1.24 in the previous period, which is an increase of about 3.2%[30] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥6,540,292,345.50, a 1.83% increase from the end of the previous year[5] - Current liabilities rose to ¥1,637,988,672.10, compared to ¥1,361,721,170.48, representing an increase of 20.29%[26] - The company’s total liabilities increased significantly, with other current liabilities rising by 6437.58% to ¥10,703,673.10, mainly due to an increase in endorsed but not yet due non-A rated notes[10] - The total equity attributable to shareholders decreased to ¥4,713,657,384.44 from ¥4,796,596,352.25, a decline of 1.73%[27] Cash Flow - The company reported a net cash flow from operating activities of ¥589,991,388.19, which is a 35.36% increase compared to the previous period[13] - The cash flow from operating activities net amount is CNY 589,991,388.19, up from CNY 435,875,379.93, indicating a significant increase of approximately 35.4%[31] - The cash and cash equivalents balance increased to ¥1,297,129,950.07 from ¥1,278,679,967.98, reflecting a growth of 1.04%[25] - The cash and cash equivalents at the end of the period amount to CNY 1,211,867,558.21, down from CNY 1,682,965,410.24, indicating a decrease of approximately 28.0%[32] - The net cash flow from investing activities is CNY -166,212,273.98, slightly worse than CNY -157,365,720.23 in the previous period, showing a decline of about 5.4%[32] - The company’s total liabilities increased, with cash outflow for financing activities amounting to CNY 1,486,487,292.43, compared to CNY 1,028,640,120.66 in the previous period, reflecting an increase of approximately 44.4%[32] Investments and Shareholder Information - The company’s long-term equity investments increased by 48.99% to ¥91,522,254.96, attributed to new equity investments made during the period[10] - The largest shareholder, a domestic non-state legal entity, holds 40.73% of shares, totaling 85,079,923 shares[15] - The top 10 shareholders include several investment partnerships, with the largest holding being 85,079,923 shares[16] - The company has a share buyback account holding 5,699,731 shares, representing 2.73% of total equity[16] - The total number of restricted shares at the end of the period is 97,498 shares after adjustments[19] - The company has no preferred shareholders or changes in preferred shareholder status[17] Future Plans and Strategies - The company plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange to enhance global strategy and brand recognition[20] - A cash dividend of 6 RMB per 10 shares will be distributed, totaling 121,918,361.40 RMB (including tax) for the 2025 semi-annual profit distribution[21] - The company plans to expand its market presence and invest in new product development, focusing on innovative technologies[26] Operating Costs and Expenses - Total operating costs amounted to ¥2,140,937,840.58, up from ¥1,972,854,349.55, reflecting a year-over-year increase of 8.52%[28] - Research and development expenses were ¥61,091,966.84, a decrease of 12.5% from ¥69,408,244.31 in the previous year[28]