Financial Performance - The company's operating revenue for Q3 2025 was ¥154,256,381.17, representing a 12.00% increase compared to the same period last year[3]. - The total profit for the period was -¥11,763,511.84, a decrease of 220.29% year-on-year[3]. - The net profit attributable to shareholders was -¥8,518,263.41, reflecting a 193.93% decline compared to the previous year[3]. - Total operating revenue for the first three quarters of 2025 is CNY 361,626,594.30, a decrease of 10.9% compared to CNY 405,852,457.28 in the same period of 2024[19]. - Operating profit for the first three quarters of 2025 is a loss of CNY 45,705,152.36, compared to a profit of CNY 2,327,356.64 in the same period of 2024[19]. - Net profit for the first three quarters of 2025 is a loss of CNY 39,771,979.70, compared to a profit of CNY 1,010,130.45 in the same period of 2024[20]. - Basic and diluted earnings per share for the first three quarters of 2025 is CNY -0.43, compared to CNY 0.06 in the same period of 2024[20]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥59,920,706.32, an increase of 89.10%[4]. - In the first three quarters of 2025, the net cash flow from operating activities was RMB 59,920,706.32, an increase of 89.0% compared to RMB 31,688,077.12 in the same period of 2024[22]. - Total cash inflow from investment activities reached RMB 539,346,516.58, significantly higher than RMB 205,226,306.72 in the previous year, marking a growth of 162.0%[23]. - The net cash flow from investment activities was negative at RMB -119,714,819.98, an improvement from RMB -172,366,439.99 in the same period last year[23]. - Cash inflow from financing activities totaled RMB 187,080,000.00, down from RMB 266,820,289.78 in the previous year, representing a decrease of 30.0%[23]. - The net cash flow from financing activities was RMB 72,295,941.39, a decrease of 24.4% compared to RMB 95,632,208.02 in the same period of 2024[23]. - The company reported a cash and cash equivalents balance of RMB 105,148,652.66 at the end of the period, up from RMB 50,733,236.47 at the end of the previous year[23]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,089,093,144.16, a slight increase of 0.65% from the end of the previous year[4]. - The company's total liabilities increased to CNY 1,056,963,271.43, up from CNY 1,003,842,721.38 year-over-year[16]. - Non-current liabilities rose to CNY 386,769,673.59, an increase from CNY 321,378,038.60 in the previous year[16]. - The total equity attributable to shareholders decreased to CNY 996,007,261.85 from CNY 1,032,898,823.63 year-over-year[16]. - Total current assets decreased to RMB 1,069,256,121.60 from RMB 1,125,827,990.59 in the previous year[14]. - Short-term borrowings decreased to RMB 100,770,152.81 from RMB 140,759,729.65[15]. - Accounts payable decreased to RMB 280,923,758.84 from RMB 369,156,683.41[15]. - Contract liabilities increased significantly to RMB 74,013,148.79 from RMB 24,491,747.97[15]. - Long-term receivables decreased to RMB 29,953,478.16 from RMB 38,414,029.06[14]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 3,714[11]. - The largest shareholder, Nanjing Wandes Investment Co., Ltd., holds 24,584,139 shares, accounting for 28.92% of total shares[12]. - The company has not reported any changes in the top 10 shareholders due to securities lending or borrowing[13]. Research and Development - Research and development expenses totaled ¥5,267,479.12, accounting for 3.41% of operating revenue, a decrease of 1.12 percentage points[4]. - The company experienced a decrease in research and development expenses, which amounted to CNY 19,040,208.86, down from CNY 23,885,984.67 year-over-year[19]. Financial Challenges - The decline in profits is primarily attributed to intensified industry competition, leading to a decrease in revenue scale and gross margin[8]. - The company reported a significant increase in financial expenses, totaling CNY 13,410,050.77, compared to CNY 10,988,302.98 in the previous year[19]. - The company reported a total of -¥36,759.99 in non-recurring gains and losses for the period[7]. Accounting Standards - The company did not apply new accounting standards for the first time in 2025[24].

Financial Performance - The company's operating revenue for the third quarter reached ¥2,724,890,693.48, an increase of 11.26% year-on-year[3] - The total profit for the period was ¥276,969,394.64, reflecting a decrease of 3.52% compared to the same period last year[3] - The net profit attributable to shareholders was ¥242,104,126.38, down 7.27% year-on-year[3] - The basic earnings per share for the quarter was ¥0.1804, a decrease of 4.60% compared to the same period last year[4] - The weighted average return on equity was 2.35%, a decrease of 0.24 percentage points year-on-year[4] - Total operating revenue for the first three quarters of 2025 reached ¥7,731,197,757.12, an increase of 9.3% compared to ¥7,071,466,767.60 in the same period of 2024[18] - Operating profit for the first three quarters of 2025 was ¥904,664,726.15, representing a growth of 9.0% from ¥829,526,918.74 in 2024[18] - Net profit for the first three quarters of 2025 was ¥821,493,400.99, a rise of 4.1% compared to ¥789,485,213.96 in 2024[19] - Basic earnings per share increased to ¥0.6130 in 2025 from ¥0.5726 in 2024, reflecting a growth of 7.8%[19] - The company reported a total profit of ¥935,395,088.31 for the first three quarters of 2025, up from ¥880,856,273.43 in 2024, marking a growth of 6.2%[19] Assets and Liabilities - Total assets at the end of the period amounted to ¥13,601,918,450.05, an increase of 3.66% from the end of the previous year[4] - The company's total liabilities increased to RMB 3,524,321,958.35 from RMB 2,977,411,213.08, representing a rise of about 18.38%[15] - The total equity attributable to shareholders decreased slightly to RMB 10,070,563,518.74 from RMB 10,114,750,747.10, indicating a decline of approximately 0.44%[15] - The cash and cash equivalents increased to RMB 882,176,408.11 from RMB 816,672,723.09, showing a growth of about 8.03%[13] - The company's accounts receivable decreased to RMB 795,217,544.48 from RMB 834,711,907.32, a decline of approximately 4.73%[13] - The inventory decreased to RMB 714,468,768.38 from RMB 793,624,682.88, reflecting a reduction of about 9.95%[13] - The long-term borrowings increased significantly to RMB 631,890,000.00 from RMB 243,180,000.00, marking an increase of approximately 160.00%[15] Cash Flow - The cash flow from operating activities for the year-to-date was ¥553,869,925.58, down 40.82% due to increased raw material prices[7] - Cash flow from operating activities for the first three quarters of 2025 was ¥553,869,925.58, a decrease of 40.7% from ¥935,905,520.69 in 2024[21] - Total cash inflow from operating activities was ¥6,260,730,963.65, up from ¥5,817,096,665.86 in the previous year[21] - Net cash flow from investment activities was -219,336,623.20, a decrease from -369,806,671.64 year-over-year[22] - Cash inflow from financing activities totaled 1,280,689,037.92, compared to 643,010,598.05 in the previous period[22] - Net cash flow from financing activities was -306,492,329.53, an improvement from -767,426,559.05 year-over-year[22] - The ending balance of cash and cash equivalents increased to 820,213,947.11 from 650,373,676.06[22] - Cash outflow for investment activities amounted to 298,136,811.20, down from 408,453,683.83 in the previous period[22] - Cash inflow from borrowing was 1,277,330,000.00, significantly higher than 632,693,640.92 last year[22] - Cash outflow for financing activities was 1,587,181,367.45, compared to 1,410,437,157.10 in the previous period[22] - The impact of exchange rate changes on cash and cash equivalents was -7,080,452.23, an improvement from -21,884,966.48 year-over-year[22] - Cash outflow for the acquisition of fixed assets and intangible assets was 215,171,841.19, down from 369,601,975.77[22] - The company reported a net increase in cash and cash equivalents of 20,960,520.62, compared to a decrease of -223,212,676.48 in the previous period[22] Shareholder Information - The company’s major shareholder, Zhejiang Jiahua Group Co., Ltd., holds 37.99% of the shares, with a total of 515,493,351 shares[9] - The company has a total of 39,076 common shareholders as of the report date[9] - The company repurchased a total of 34,559,500 shares, accounting for 2.55% of the total share capital, with a total expenditure of RMB 29,811.20 million[11] - The company plans to initiate a share repurchase program with a budget between RMB 40,000 million and RMB 60,000 million, subject to shareholder approval[11] Research and Development - Research and development expenses increased to ¥233,852,082.27 in 2025, compared to ¥215,305,806.89 in 2024, indicating a focus on innovation[18] - Other income rose to ¥57,342,036.51 in 2025, compared to ¥39,862,196.66 in 2024, showing improved financial performance[18] Investment Activities - The company exited its investment in Zhejiang Lianyun Chemical Co., Ltd. through a targeted capital reduction effective September 1, 2025[12]

成都唐源电气股份有限公司 2025 年第三季度报告 证券代码：300789 证券简称：唐源电气 公告编号：2025-092 成都唐源电气股份有限公司 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。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完 整。 3.第三季度财务会计报告是否经过审计 □是 否 1 成都唐源电气股份有限公司 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 重要内容提示： 1.董事会、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。 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 114,107,129.61 | -16.66% | 404 ...

Financial Performance - The company's operating revenue for the third quarter was ¥732,776,114.57, an increase of 5.66% compared to the same period last year[4] - The total profit for the third quarter was ¥39,411,464.97, a decrease of 12.45% year-on-year[4] - The net profit attributable to shareholders was ¥34,398,988.08, down 12.04% from the previous year[4] - The net profit after deducting non-recurring gains and losses was ¥34,283,519.46, a decrease of 13.67% year-on-year[4] - The basic earnings per share for the third quarter was ¥0.0792, a decline of 5.60% compared to the same period last year[5] - The diluted earnings per share also stood at ¥0.0792, reflecting a decrease of 5.60% year-on-year[5] - The company reported a significant decrease in total profit for the year-to-date, down 41.21% due to a reduction in revenue from new infrastructure business[9] - Total operating revenue for the first three quarters of 2025 reached ¥2,317,179,299.11, an increase of 5.04% compared to ¥2,205,738,832.26 in the same period of 2024[19] - Operating profit for the first three quarters of 2025 decreased to ¥99,071,322.38, down 42.14% from ¥171,239,439.24 in 2024[20] - Net profit attributable to shareholders of the parent company for the first three quarters of 2025 was ¥85,041,899.11, a decline of 41.19% compared to ¥144,477,633.88 in the same period of 2024[21] - Basic earnings per share for the first three quarters of 2025 were ¥0.1959, down from ¥0.3707 in 2024, indicating a decrease of 47.16%[21] - The company reported a total comprehensive income of ¥75,571,512.28 for the first three quarters of 2025, down from ¥144,520,459.07 in 2024, a decline of 47.60%[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥8,015,896,926.35, a decrease of 0.89% from the end of the previous year[5] - The equity attributable to shareholders increased by 1.82% to ¥2,077,340,741.63 compared to the end of the previous year[5] - The company's total current assets decreased from ¥3,722,973,768.18 at the end of 2024 to ¥3,430,967,061.33 as of September 30, 2025, a decline of approximately 7.83%[16] - Accounts receivable increased slightly from ¥2,086,180,360.54 to ¥2,104,719,126.12, reflecting a growth of about 0.03%[16] - Total assets decreased from ¥8,088,088,584.50 to ¥8,015,896,926.35, a reduction of approximately 0.9%[17] - Short-term borrowings increased from ¥988,000,000.00 to ¥1,121,862,000.00, an increase of about 13.5%[17] - Total liabilities increased from ¥4,631,508,477.17 to ¥4,726,337,608.84, reflecting a growth of approximately 2.05%[17] - Total liabilities decreased to ¥5,825,554,132.99 in 2025 from ¥5,970,579,728.07 in 2024, a reduction of 2.43%[18] - Total equity increased to ¥2,190,342,793.36 in 2025 from ¥2,117,508,856.43 in 2024, reflecting a growth of 3.43%[18] Cash Flow - Operating cash inflow from sales increased to $2,533,619,530.83, up from $1,968,506,130.75, representing a growth of approximately 28.7%[24] - Net cash flow from operating activities was $163,864,520.31, a significant recovery from a negative cash flow of -$276,787,578.87 in the previous period[24] - Total cash outflow from investment activities was $362,657,880.82, compared to $1,958,474,682.56 in the prior period, indicating a reduction in investment spending[25] - Net cash flow from financing activities showed a deficit of -$196,153,526.86, contrasting with a positive cash flow of $1,442,051,109.21 previously[25] - The ending cash and cash equivalents balance was $356,077,839.30, slightly up from $351,727,475.29 in the previous period[25] - Cash inflow from financing activities totaled $1,567,862,000.00, down from $2,724,340,547.13, reflecting a decrease in new financing[25] - Cash outflow for debt repayment was $1,491,312,276.11, which increased from $1,162,559,423.94, indicating higher debt servicing costs[25] - The company received $40,000,000.00 from minority shareholders, a significant increase from $5,000,000.00 in the previous period[25] - The impact of exchange rate changes on cash and cash equivalents was positive at $4,120,662.24, compared to $2,775,819.74 previously[25] Research and Development - Research and development expenses for the first three quarters of 2025 were ¥68,600,008.83, slightly up from ¥65,958,469.50 in 2024, indicating a year-on-year increase of 3.93%[20] Strategic Developments - The company has not reported any new strategies or product developments during this period[14] - The company will not apply new accounting standards starting from 2025, as confirmed in the announcement[26]

Financial Performance - The company's operating revenue for the third quarter was ¥147,025,041.89, a decrease of 3.02% compared to the same period last year[4] - The total profit for the quarter was ¥14,317,351.83, down 56.89% year-on-year[4] - The net profit attributable to shareholders was ¥8,056,002.34, reflecting a decline of 66.99% compared to the previous year[4] - The basic earnings per share for the quarter were ¥0.016875, a decrease of 66.99% year-on-year[5] - The net profit attributable to shareholders for the year-to-date was ¥35,434,588.41, down 31.32% compared to the same period last year[4] - Total operating revenue for the first three quarters of 2025 was CNY 419,308,487.51, a decrease of 3.3% compared to CNY 434,879,738.06 in the same period of 2024[23] - Net profit for the first three quarters of 2025 was CNY 40,634,818.79, down 30.9% from CNY 58,900,566.29 in the previous year[24] - Operating profit decreased to CNY 56,300,560.63, a decline of 27.7% compared to CNY 77,869,632.08 in the same period last year[24] - Basic earnings per share for the first three quarters of 2025 was CNY 0.07, compared to CNY 0.11 in the same period of 2024[25] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,081,871,943.27, representing a decrease of 7.97% from the end of the previous year[5] - Total assets amounted to CNY 2,081,871,943.27, a decrease from CNY 2,262,080,851.53 in the previous year[21] - Total liabilities decreased to CNY 276,356,658.83 from CNY 479,761,025.22 year-over-year[21] - Shareholders' equity increased to CNY 1,805,515,284.44, up from CNY 1,782,319,826.31 in the previous year[21] Cash Flow - The cash flow from operating activities for the year-to-date was ¥308,406,856.91, a decrease of 14.95%[4] - Cash inflow from operating activities for the first three quarters of 2025 was $907.64 million, compared to $972.45 million in the same period of 2024, representing a decrease of approximately 6.67%[27] - Net cash flow from operating activities for the first three quarters of 2025 was $308.41 million, down from $362.61 million in 2024, indicating a decline of about 14.93%[27] - Cash inflow from investment activities in the first three quarters of 2025 totaled $1.47 billion, significantly higher than $112.21 million in 2024, marking an increase of approximately 1215.56%[28] - Net cash flow from investment activities for the first three quarters of 2025 was -$320.67 million, compared to -$231.79 million in 2024, reflecting a worsening of about 38.38%[28] - Cash inflow from financing activities in the first three quarters of 2025 was $14.41 million, down from $43.17 million in 2024, a decrease of approximately 66.61%[28] - Net cash flow from financing activities for the first three quarters of 2025 was -$88.04 million, compared to -$131.81 million in 2024, showing an improvement of about 33.24%[28] - The ending cash and cash equivalents balance for the first three quarters of 2025 was $255.99 million, slightly lower than $265.50 million in 2024, a decrease of about 3.67%[28] Shareholder Information - Total number of common shareholders at the end of the reporting period is 33,975[12] - The largest shareholder, Shanghai Shentong Metro Group Co., Ltd., holds 278,943,799 shares, accounting for 58.43% of total shares[12] Government Subsidies and Legal Matters - The company received government subsidies amounting to ¥3,036,912.40, primarily related to commercial factoring[7] - The company has initiated legal proceedings against Shanghai Shishi Financing Leasing Co., Ltd. and has received favorable judgments in the first and second instances[14] Subsidiary Performance - The company's consolidated subsidiaries reported revenue of 19,210.72 million RMB and a net profit of 628.98 million RMB for the reporting period[17] - The company’s fully-owned subsidiary, the New Energy Company, reported revenue of 3,822.11 million RMB and a net profit of 1,505.26 million RMB[17] Future Plans - The company plans to distribute a cash dividend of 0.18 RMB per 10 shares, totaling approximately 8,592,874.29 RMB, which represents 31.39% of the net profit attributable to shareholders for the first half of 2025[15] - The company has decided to terminate the establishment of a joint venture named Shanghai Aiguan Intelligent Transportation Technology Co., Ltd.[15] Research and Development - Research and development expenses rose to CNY 2,305,444.86, an increase of 53.2% from CNY 1,503,896.92 in the previous year[23] Financial Expenses - Financial expenses decreased significantly to CNY 1,318,123.27, down 77.3% from CNY 5,810,709.33 year-over-year[23]

Financial Performance - The company's operating revenue for Q3 2025 was ¥61,539,411.55, a decrease of 13.79% compared to the same period last year[3] - The total profit for the period was -¥5,706,377.81, with a net profit attributable to shareholders of -¥4,211,492.36[3] - Year-to-date revenue reached ¥201,121,659.33, reflecting a significant increase of 49.84% year-on-year[3] - The basic earnings per share for the current period was -¥0.03, compared to ¥0.02 in the same period last year[3] - The net profit for the first three quarters of 2025 was ¥1,468,301.62, a recovery from a net loss of ¥18,943,044.54 in the same period of 2024[18] - The profit attributable to shareholders of the parent company for the first three quarters of 2025 was ¥2,425,401.00, compared to a loss of ¥15,218,361.67 in 2024[19] - The company reported a total comprehensive income of ¥1,466,872.73 for the first three quarters of 2025, compared to a loss of ¥18,950,151.39 in 2024[19] - The basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.02, recovering from a loss of ¥0.10 per share in the same period of 2024[19] Research and Development - Research and development expenses totaled ¥5,807,306.57, down 12.56% from the previous year, while the R&D expense ratio to operating revenue increased by 9.44%[4] - Research and development expenses for the first three quarters of 2025 were ¥16,726,139.51, down from ¥22,158,393.96 in 2024, indicating a reduction of approximately 24.6%[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,455,337,049.01, representing a 5.90% increase from the end of the previous year[4] - Total current assets as of September 30, 2025, amount to ¥1,068,149,513.98, an increase from ¥1,009,925,202.93 at the end of 2024[14] - Total assets as of September 30, 2025, are ¥1,455,337,049.01, compared to ¥1,374,229,932.08 at the end of 2024[15] - Total current liabilities increased to ¥293,275,884.90 from ¥194,499,767.25 in the previous period[15] - The total liabilities as of the latest reporting period were ¥310,231,741.03, compared to ¥204,790,896.90 in the previous year, showing an increase of about 51.3%[16] - The total equity attributable to shareholders of the parent company was ¥1,144,816,311.34, a slight decrease from ¥1,169,503,243.59 in the previous year[16] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥137,747,827.02[3] - Operating cash inflow totaled $415,219,002.12, an increase from $240,821,027.27 in the previous period, reflecting a significant improvement in operational efficiency[22] - The net cash flow from operating activities was $137,747,827.02, a significant recovery from a negative cash flow of -$13,664,974.87 in the previous period[22] - The company reported a total cash inflow from investment activities of $2,029,286,581.19, slightly up from $2,018,862,008.98, indicating stable investment performance[22] Shareholder Information - Total number of common shareholders at the end of the reporting period is 6,437[11] - The largest shareholder, Huang Wenjun, holds 24,400,047 shares, representing 16.48% of total shares[12] - The company has no significant changes in the shareholder structure or related party transactions during the reporting period[12] Investment and Expenditures - Cash paid for purchasing fixed assets and other long-term assets was $27,947,432.74, down from $40,856,405.46, reflecting a reduction in capital expenditures[22] - The company paid $29,321,285.00 in dividends and interest, a decrease from $51,076,192.06, indicating a potential shift in dividend policy[23] Other Financial Metrics - Non-recurring gains and losses for the current period totaled ¥4,045,506.36, with government subsidies contributing significantly to this figure[6] - The weighted average return on equity decreased to -0.37% for the current period, down from 1.45% in the previous year[3] - The company's cash and cash equivalents are reported at ¥197,088,504.29, down from ¥502,392,537.69[14] - Accounts receivable decreased to ¥135,702,604.51 from ¥165,545,278.26[14] - Inventory increased to ¥99,639,491.83 from ¥70,746,455.45[14] - Long-term equity investments rose to ¥18,933,648.89 from ¥13,670,200.89[14] - The impact of exchange rate changes on cash and cash equivalents was minimal, with a positive effect of $57.82 compared to a negative impact of -$16,008.58 previously[23]

Financial Performance - The company's operating revenue for Q3 2025 was CNY 380,365,336.10, a decrease of 13.69% compared to the same period last year[2]. - The total profit for the period was CNY 84,918,972.93, reflecting a decline of 26.31% year-on-year[2]. - The net profit attributable to shareholders was CNY 81,338,808.13, down 18.10% from the previous year[2]. - Basic earnings per share were CNY 0.80, a decrease of 38.46% compared to the same period last year[3]. - Total operating revenue for the first three quarters of 2025 was CNY 1,055,518,716.02, a decrease of 8.1% compared to CNY 1,148,199,618.22 in the same period of 2024[16]. - Net profit for the first three quarters of 2025 was CNY 196,915,060.95, a decrease of 16.6% from CNY 235,979,745.33 in 2024[17]. - Operating profit for the first three quarters of 2025 was CNY 217,745,457.39, compared to CNY 280,287,842.40 in 2024, reflecting a decline of 22.3%[17]. - Basic and diluted earnings per share for the first three quarters of 2025 were CNY 1.94, down from CNY 3.08 in the same period of 2024[18]. Assets and Liabilities - The total assets at the end of the period amounted to CNY 2,800,642,634.51, representing a 7.78% increase from the end of the previous year[3]. - The company's current assets decreased to RMB 1,226,643,367.68 from RMB 1,351,312,242.05 in the previous period, indicating a decline of approximately 9.2%[12]. - The total liabilities increased to RMB 680,872,013.19 from RMB 597,547,628.80, reflecting an increase of about 13.9%[13]. - The equity attributable to shareholders increased by 5.81% to CNY 2,117,084,982.92 compared to the end of the previous year[3]. - The company's fixed assets increased to RMB 1,088,170,119.66 from RMB 826,666,700.11, representing a growth of approximately 31.7%[12]. - The total non-current assets increased to RMB 1,573,999,266.83 from RMB 1,247,053,294.59, indicating a growth of approximately 26.2%[12]. Cash Flow - Cash flow from operating activities increased by 82.37% year-to-date, primarily due to a reduction in cash outflows for purchasing goods and services[6]. - Cash flow from operating activities for the first three quarters of 2025 was CNY 321,035,497.02, an increase of 82.2% compared to CNY 176,031,030.81 in 2024[20]. - Total cash inflow from operating activities was CNY 1,210,221,436.84, slightly down from CNY 1,226,325,049.70 in 2024[20]. - Total cash outflow from operating activities was CNY 889,185,939.82, a decrease of 15.3% from CNY 1,050,294,018.89 in 2024[20]. - Cash and cash equivalents decreased significantly to RMB 458,576,466.03 from RMB 690,717,245.66, a decline of about 33.5%[12]. - Cash and cash equivalents at the end of the period totaled 453,582,642.00, down from 752,765,603.25[21]. Shareholder Information - The number of common shareholders at the end of the reporting period was 3,843[8]. - The top shareholder, Ji Wenhu, holds 20,965,811 shares, representing 20.51% of the total shares[8]. Research and Development - Research and development expenses for the first three quarters of 2025 were CNY 28,787,425.02, down 21.7% from CNY 36,776,753.03 in 2024[16]. Other Financial Indicators - The company reported a non-recurring loss of CNY 31,913.01 for the current period[5]. - Other income for the first three quarters of 2025 was CNY 5,755,456.97, a significant decrease from CNY 25,031,828.72 in 2024[16]. - Net cash flow from investment activities was -552,012,424.58, a decrease from -294,740,438.23[21]. - Total cash inflow from financing activities was 423,400,000.00, compared to 1,085,630,550.00 in the previous period[21]. - Net cash flow from financing activities increased to 7,045,938.83 from 749,515,679.14[21]. - Cash outflow from investment activities amounted to 1,021,593,058.80, significantly higher than 302,331,307.81[21]. - Cash paid for the acquisition of fixed assets and intangible assets was 450,471,315.26, up from 295,401,223.16[21].

Financial Performance - The company's operating revenue for Q3 2025 was ¥2,092,309,132.74, a decrease of 7.01% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2025 was ¥28,227,823.03, down 25.62% year-on-year[5] - The total profit for Q3 2025 was ¥40,982,939.36, reflecting a decline of 13.23% compared to the previous year[5] - Total operating revenue for the first three quarters of 2025 was CNY 6,548,882,996.02, a decrease of 2.77% compared to CNY 6,735,206,324.77 in the same period of 2024[80] - Net profit for the first three quarters of 2025 was CNY 100,575,339.20, an increase of 2.18% compared to CNY 98,371,124.29 in 2024[81] Assets and Liabilities - The company reported a decrease in total assets to ¥9,739,539,927.47, down 8.32% from the end of the previous year[6] - Total current liabilities increased by 34.50% to approximately ¥2.16 billion, driven by increased short-term borrowings and bank acceptance bill financing[26] - The company's total liabilities decreased to CNY 7,114,767,220.73 in 2025 from CNY 7,842,700,401.71 in 2024, representing a reduction of 9.26%[80] - The total equity attributable to shareholders decreased to CNY 2,626,079,923.78 in 2025 from CNY 2,797,247,891.58 in 2024, a decline of 6.12%[80] Cash Flow - The company achieved a net cash flow from operating activities of ¥822,365,008.82 for the year-to-date, an increase of 63.79%[6] - Cash inflow from operating activities for the first three quarters of 2025 was CNY 6,664,555,989.57, down from CNY 7,020,499,902.81 in 2024, a decrease of 5.08%[84] - The net cash flow from operating activities was $822,365,008.82, an increase from $502,088,314.28 in the previous period, reflecting a growth of approximately 63.8%[85] Revenue Structure - The proportion of medical insurance settlement income in the company's main business revenue decreased from 52% in 2022 to 40% in 2025[8] - The company has shifted its revenue structure, with prescription drug revenue decreasing by 1.75% and non-prescription drug revenue increasing by 1.75%[10] - Prescription drug revenue decreased by 6.46% year-on-year, while non-prescription drug revenue increased by 2.52%, reflecting the company's efforts to reduce reliance on prescription drugs[47] Cost Management - The company has implemented cost control measures, resulting in a 6.67% decrease in period expenses in Q3 2025 compared to the same period last year[10] - The company has implemented measures to control costs, resulting in a 2.84% year-on-year decrease in period expenses for the first nine months of 2025[21] - The company has initiated negotiations to reduce rental costs, focusing on high-rent, low-output stores to improve overall cost structure[21] Inventory Management - The company has significantly reduced inventory value by CNY 726.82 million, achieving a 23.24% decrease compared to the beginning of the year, enhancing inventory turnover efficiency[15] - The company's inventory stock increased by 48.70% to approximately ¥145.44 million, influenced by the stock repurchase plan approved by the board[26] - Inventory decreased to approximately ¥2.40 billion from ¥3.13 billion, reflecting enhanced inventory turnover efficiency[78] Store Operations - The company closed 83 stores and opened 45 new stores in the first nine months of 2025, resulting in a net decrease of 38 stores, bringing the total to 5,448 stores[36] - The company faced challenges in expanding its store network due to high rents and regulatory constraints, leading to a strategic adjustment in its expansion pace[36] - The company is focusing on optimizing existing stores and addressing high-loss locations through strategic relocations[36] Shareholder Information - The total number of common shareholders at the end of the reporting period is 15,091[33] - The top 10 shareholders hold a total of 84,000,000 shares, representing 55.36% of the total shareholding[33] - Shenzhen Changsi Xing Industrial Development Co., Ltd. is the largest shareholder, holding 23,439,968 shares, which is 15.17% of the total[33] Compliance and Regulations - The company has established a comprehensive compliance system for medical insurance operations, enhancing training and assessment for relevant departments[18] - The company is actively working on compliance with regulatory bodies to improve drug supervision and insurance compliance levels[71] Strategic Initiatives - The company is focusing on enhancing store efficiency and transforming its business model to adapt to market changes and consumer needs[13] - The company is focusing on transforming its business model to emphasize professional pharmaceutical services and health management, moving away from reliance on insurance sales[69] - A strategic focus on high-quality innovation and category management is expected to drive sales growth and improve operational efficiency[74]

Financial Performance - The company's operating revenue for Q3 2025 was ¥2,042,719,648.45, a decrease of 22.43% year-on-year[5] - The total profit for the period was ¥190,562,105.19, down 48.54% compared to the same quarter last year[5] - Net profit attributable to shareholders was ¥129,104,688.63, reflecting a decline of 45.31% year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥102,282,542.35, a significant drop of 58.01% compared to the previous year[5] - The basic and diluted earnings per share were both ¥0.0963, down 45.28% year-on-year[5] - Total operating revenue for the first three quarters of 2025 was CNY 6.92 billion, a decrease of 19.5% compared to CNY 8.59 billion in the same period of 2024[20] - Net profit for the first three quarters of 2025 was CNY 933.23 million, a decline of 22.2% from CNY 1.20 billion in 2024[21] - Operating profit for the first three quarters of 2025 was CNY 1.10 billion, down 25.0% from CNY 1.47 billion in the previous year[21] - Basic earnings per share for the first three quarters of 2025 were CNY 0.5974, down from CNY 0.7117 in 2024[22] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥19,330,801,003.68, a decrease of 3.13% from the end of the previous year[6] - The company's current assets totaled RMB 10,799,627,521.67, down from RMB 11,684,104,124.22, indicating a decrease of about 7.53%[16] - Total liabilities decreased to RMB 3,632,219,485.35 from RMB 4,633,633,097.68, a reduction of about 21.59%[17] - The company's equity attributable to shareholders increased to RMB 13,638,317,886.42 from RMB 13,203,924,172.51, an increase of approximately 3.29%[18] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥1,141,629,735.11, down 43.66% year-on-year[5] - Cash flow from operating activities generated CNY 1.14 billion, a decrease of 43.7% compared to CNY 2.03 billion in 2024[25] - The net cash flow from investment activities was negative at CNY 1.67 billion, worsening from a negative CNY 1.35 billion in 2024[25] - In the first three quarters of 2025, the net cash flow from financing activities was -$1.64 billion, compared to -$407.06 million in the same period of 2024[26] - The total cash outflow from financing activities in the first three quarters of 2025 was $1.64 billion, significantly higher than $457.06 million in 2024[26] Expenses - Total operating costs decreased to CNY 5.86 billion, down 18.0% from CNY 7.15 billion year-over-year[20] - Research and development expenses for the first three quarters of 2025 were CNY 331.63 million, a reduction of 20.3% from CNY 416.21 million in 2024[20] - Sales expenses significantly decreased to CNY 354.82 million, down 63.4% from CNY 969.12 million year-over-year[20] Market Factors - The decline in profits was attributed to industry cycles, market competition, and reduced demand for key products[9] - The company reported a significant increase in non-recurring gains and losses, impacting the net profit figures[10] Cash and Equivalents - Cash and cash equivalents decreased to RMB 4,141,241,012.60 from RMB 6,211,941,467.03, representing a decline of approximately 33.39%[15] - The cash and cash equivalents at the end of Q3 2025 were $3.99 billion, down from $5.42 billion at the end of Q3 2024[26] - The net increase in cash and cash equivalents for the first three quarters of 2025 was -$2.16 billion, while it was $289.39 million in the same period of 2024[26] - The impact of exchange rate changes on cash and cash equivalents was $18.64 million in 2025, compared to $24.55 million in 2024[26]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥46,176,924,934.12, representing a year-on-year increase of 9.43%[3] - Total profit for the period was ¥2,514,508,079.68, reflecting a significant growth of 25.14% compared to the same period last year[3] - Net profit attributable to shareholders was ¥1,804,288,696.31, up by 12.01% year-on-year[3] - Total operating revenue for the first three quarters of 2025 reached ¥130.85 billion, an increase of 9.8% compared to ¥119.49 billion in the same period of 2024[17] - Operating profit for the first three quarters of 2025 was ¥6.21 billion, up from ¥5.47 billion in 2024, reflecting a growth of 13.6%[17] - Net profit attributable to shareholders of the parent company for the first three quarters of 2025 was ¥4.69 billion, compared to ¥4.47 billion in 2024, representing a year-on-year increase of 4.8%[18] - The total comprehensive income for the first three quarters of 2025 was ¥5.91 billion, up from ¥5.34 billion in 2024, reflecting an increase of 10.6%[18] - Basic earnings per share for the first three quarters of 2025 were ¥1.487, compared to ¥1.419 in 2024, indicating a growth of 4.8%[18] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was ¥9,977,266,495.23, showing a substantial increase of 77.56%[3] - The company reported a cash inflow from operating activities of ¥92.57 billion in the first three quarters of 2025, compared to ¥93.66 billion in the same period of 2024[20] - Total cash inflow from operating activities was ¥94,243,577,627.94, slightly down from ¥95,734,987,361.84, reflecting stable operational cash generation[21] - Cash and cash equivalents at the end of the period reached ¥39,297,455,628.68, up from ¥33,755,991,302.93, reflecting a strong liquidity position[22] - The company received cash from borrowings amounting to ¥6,326,687,065.01, slightly down from ¥6,422,381,856.57, indicating stable borrowing levels[22] - The company paid out ¥3,855,579,366.41 in dividends and interest, an increase from ¥3,085,645,138.66, indicating a commitment to returning value to shareholders[22] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥198,243,635,482.10, marking a 7.16% increase from the end of the previous year[4] - Total liabilities increased to ¥129.68 billion in 2025 from ¥118.89 billion in 2024, marking a rise of 9.8%[14] - The company's total equity rose to ¥68.56 billion in 2025, up from ¥66.12 billion in 2024, indicating a growth of 3.7%[14] - As of September 30, 2025, the total current assets of Huayu Automotive Systems Co., Ltd. amounted to RMB 131.22 billion, an increase from RMB 118.03 billion as of December 31, 2024, representing a growth of approximately 11.2%[12] - The total assets of the company as of September 30, 2025, were RMB 198.24 billion, compared to RMB 185.01 billion at the end of 2024, marking an increase of around 7.1%[13] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 61,471[9] - Shanghai Automotive Group Co., Ltd. held 58.32% of the shares, making it the largest shareholder[10] - The company has not disclosed any significant changes in shareholder relationships or actions regarding the top 10 shareholders[11] Operational Highlights - The increase in total profit was primarily driven by revenue growth leading to higher gross margins[8] - Research and development expenses for the first three quarters of 2025 were ¥4.70 billion, slightly higher than ¥4.57 billion in 2024, showing an increase of 2.8%[17] - The total operating costs for the first three quarters of 2025 were ¥127.49 billion, an increase of 9.4% from ¥116.53 billion in 2024[17] - The company reported a significant increase in other receivables, which rose to RMB 3.10 billion from RMB 2.42 billion, reflecting a growth of approximately 28.1%[12] Investment Activities - Total cash inflow from investment activities was ¥2,855,044,576.65, compared to ¥1,758,101,059.48 previously, indicating improved investment returns[21] - Cash outflow from investment activities totaled ¥2,856,962,532.91, a decrease from ¥10,124,951,211.14, suggesting a reduction in capital expenditures[21] Exchange Rate Impact - The impact of exchange rate changes on cash and cash equivalents was positive at ¥26,506,581.79, contrasting with a negative impact of -¥4,399,225.23 previously[22]