Financial Performance - The company's operating revenue for Q3 2025 was ¥131,012,512.53, a decrease of 3.28% compared to the same period last year[4] - Total profit for the quarter was ¥10,358,382.24, down 55.08% year-on-year[4] - Net profit attributable to shareholders was ¥9,725,509.40, reflecting a decline of 56.32% compared to the previous year[4] - The net profit after deducting non-recurring gains and losses was ¥3,685,695.19, a significant drop of 74.45% year-on-year[4] - Total operating revenue for the first three quarters of 2025 was CNY 387,453,749.49, a decrease of 8.6% compared to CNY 423,834,923.03 in the same period of 2024[21] - Net profit for the first three quarters of 2025 was CNY 7,083,367.85, a significant decline of 88.0% from CNY 59,187,227.24 in the previous year[22] - The company's basic and diluted earnings per share for the first three quarters of 2025 were both CNY 0.11, down from CNY 0.54 in the same period of 2024[23] Research and Development - Research and development expenses totaled ¥4,328,751.63, a decrease of 19.51% from the previous year[5] - The proportion of R&D expenses to operating revenue was 3.30%, down 0.67 percentage points compared to the same period last year[5] - Research and development expenses for the first three quarters of 2025 were CNY 17,843,617.01, down 13.7% from CNY 20,734,916.73 in the previous year[22] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥3,090,792,341.82, a decrease of 2.81% from the end of the previous year[5] - As of September 30, 2025, the company's total current assets amounted to ¥1,417,044,369.27, a decrease from ¥1,550,684,855.94 on December 31, 2024, representing a decline of approximately 8.6%[17] - The company's total liabilities decreased to CNY 457,045,237.71 from CNY 514,187,635.15, a reduction of 11.1%[19] - The company's total equity decreased to CNY 2,633,747,104.11 from CNY 2,665,853,795.35, a decline of 1.2%[19] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥92,500,436.27, reflecting a decline of 31.64%[5] - Cash inflow from operating activities totaled $416,448,557.52, a decrease of 17.1% from $502,742,986.58[26] - Cash outflow from operating activities was $323,948,121.25, down 11.7% compared to $367,420,549.89[26] - Net cash flow from operating activities amounted to $92,500,436.27, representing a decline of 31.6% from $135,322,436.69[26] - Cash inflow from investing activities reached $2,884,820,320.08, an increase of 34.5% from $2,143,772,819.91[27] - Cash outflow from investing activities was $3,688,980,107.63, up 7.6% from $3,428,182,739.25[27] - Net cash flow from investing activities showed a deficit of $804,159,787.55, improving from a deficit of $1,284,409,919.34[27] - Cash inflow from financing activities totaled $97,695,956.58, an increase of 11.4% from $87,687,981.47[27] - Cash outflow from financing activities was $279,837,047.75, up 75.0% from $159,835,922.75[27] - Net cash flow from financing activities recorded a deficit of $182,141,091.17, worsening from a deficit of $72,147,941.28[27] Other Information - The company's cash and cash equivalents decreased significantly from ¥1,283,552,700.84 to ¥389,752,258.39, indicating a reduction of about 69.7%[17] - The company's inventory decreased from ¥34,220,963.41 to ¥11,108,658.60, reflecting a decline of approximately 67.6%[17] - The company's accounts receivable slightly decreased from ¥107,068,891.47 to ¥100,941,901.98, a reduction of about 5.8%[17] - The company's fixed assets decreased from ¥1,004,571,227.93 to ¥935,307,461.94, indicating a decline of approximately 6.9%[17] - The company's long-term equity investments were reported at ¥68,162,566.08 as of September 30, 2025, with no previous figure available for comparison[17] - The company's total liabilities and equity figures were not provided in the extracted data, indicating a need for further details in future reports[15] - The company has not disclosed any new product developments or technological advancements in the current reporting period[15] - There are no significant changes in shareholder structure or major strategic actions reported during the period[15] - The company has not indicated any future guidance or market expansion plans in the current report[15]

Financial Performance - The company's revenue for Q3 2025 was ¥620,137,570, a decrease of 23.03% compared to the same period last year[6] - Net profit attributable to shareholders was ¥3,703,289, down 88.25% year-on-year, while the net profit after deducting non-recurring gains and losses was ¥761,720, a decline of 95.93%[6] - The net profit for the first nine months of 2025 was ¥28,548,653, a decrease of 60.14% compared to the same period last year[13] - Total operating revenue for the current period was ¥1,624,870,218.74, a decrease of 16.0% compared to ¥1,932,312,096.54 in the previous period[26] - Operating profit for the current period was ¥25,981,154.68, a decline of 62.4% from ¥69,226,010.68 in the previous period[26] - The total profit for the current period is 24,807,486.73, a decrease from 67,570,817.30 in the previous period, indicating a significant decline[27] - The net profit attributable to shareholders of the parent company is 28,825,183.26, down from 72,112,759.09, reflecting a decrease of approximately 60%[27] - Basic earnings per share for the current period is 0.08, compared to 0.22 in the previous period, reflecting a decrease of approximately 63.64%[27] - The total comprehensive income for the current period is 25,057,266.73, down from 60,696,221.95, indicating a decline in overall profitability[27] Cash Flow and Assets - The company's cash flow from operating activities showed a net outflow of ¥102,773,316, representing a 160.96% decrease compared to the previous year[6] - The net cash flow from operating activities for the first nine months of 2025 was -102,773,316.48, a decrease of 160.96% compared to the same period in 2024, primarily due to reduced operational inflows[15] - Cash and cash equivalents increased to ¥999,722,676.72 from ¥919,329,615.05, representing an increase of 8.7%[22] - The cash and cash equivalents at the end of the period amount to 993,334,510.34, a slight decrease from 1,011,188,000.68 in the previous period[29] - The company received cash from the recovery of investments totaling 2,908,100,000.00, an increase from 2,754,500,000.00 in the previous period, indicating improved investment recovery[28] - The net cash flow from investing activities increased to 218,637,562.50, a 119.40% change, mainly due to a reduction in the purchase of financial products with temporarily idle raised funds during the reporting period[15] - The net cash flow from financing activities was -46,776,662.96, a decrease of 103.93%, attributed to the inflow of funds from the issuance of convertible bonds in the previous period[15] - The net cash flow from financing activities is -46,776,662.96, a significant drop from 1,189,662,199.30 in the previous period, suggesting reduced financing activities[29] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,441,932,970, reflecting a 1.53% increase from the end of the previous year[6] - Accounts receivable increased by 41.11% to ¥567,012,107, primarily due to an increase in overdue accounts[10] - Total current assets reached ¥3,174,232,601.44, an increase of 3.7% from ¥3,062,240,284.79[22] - Total liabilities increased to ¥1,413,757,251.12 from ¥1,327,050,958.40, marking a rise of 6.5%[23] - Total equity attributable to shareholders decreased to ¥3,028,175,718.88 from ¥3,046,459,972.83, a decline of 0.6%[24] - Non-current assets totaled ¥1,267,700,368.56, down from ¥1,312,930,185.22, reflecting a decrease of 3.4%[23] Shareholder Information - As of September 30, 2025, the total number of ordinary shareholders was 47,530, with no preferred shareholders having restored voting rights[17] - Dongguan Wenfu Industrial Investment Co., Ltd. held 27.75% of the shares, amounting to 105,600,000 shares, making it the largest shareholder[17] - The company has a share repurchase program, holding 4,000,000 shares, which accounts for 1.05% of the total share capital[18] - The company’s actual controller is the chairman Yan Fan, with significant shareholding by Dongguan Wenfu Industrial Investment Co., Ltd.[17] Investments and Acquisitions - The company plans to acquire all limited partnership interests of beyerdynamic GmbH & Co. KG, with the acquisition agreement approved by the board on August 12, 2025[19] - The acquisition of BD KG's interests and shares is currently in progress, with further announcements to be made as required by law[20] - Investment income increased by 160.01% to ¥16,129,448, driven by the company's investment in financial products[13] Other Income and Expenses - The company reported a significant increase in other income, which rose by 30.76% to ¥28,832,077, mainly due to increased government subsidies[13] - The company reported a 120.38% decrease in other comprehensive income, primarily due to the transfer of amounts related to the disposal of a subsidiary[11] - The company reported a decrease in other comprehensive income after tax, amounting to -3,491,385.93, compared to -10,934,275.82 in the previous period, showing an improvement[27] - Inventory increased to ¥505,808,812.06, a rise of 3.0% compared to ¥488,456,512.88[22] - Total operating costs amounted to ¥1,619,752,805.88, down from ¥1,877,741,300.00, reflecting a reduction of 13.8%[26]

Financial Performance - The company's operating revenue for Q3 2025 was CNY 480,264,013.51, representing a year-on-year increase of 5.80%[3] - The total profit for the period decreased by 33.49% to CNY 39,505,857.43 compared to the same period last year[3] - The net profit attributable to shareholders was CNY 39,183,911.70, down 26.91% year-on-year[3] - The net profit after deducting non-recurring gains and losses was CNY 34,277,112.13, a decrease of 26.57% compared to the previous year[3] - The basic earnings per share for the period was CNY 0.24, down 27.27% year-on-year[3] - Net profit for the first three quarters of 2025 was ¥136,373,727.00, a decrease of approximately 28.3% compared to ¥190,064,702.29 in the same period of 2024[23] - The net profit attributable to the parent company shareholders for the first three quarters of 2025 is CNY 140,033,478.90, a decrease of 27.7% compared to CNY 193,651,167.85 in the same period of 2024[24] - Basic earnings per share for the current period is CNY 0.85, down from CNY 1.17 in the same period last year, reflecting a decrease of 27.4%[24] Cash Flow - The cash flow from operating activities showed a significant decline of 45.06%, totaling CNY 76,882,409.97 year-to-date[3][7] - The net cash flow from operating activities for the first three quarters of 2025 is CNY 76,882,409.97, down 45.0% from CNY 139,944,415.61 in the first three quarters of 2024[25] - The total cash inflow from investment activities in the first three quarters of 2025 is CNY 2,413,464,340.11, significantly higher than CNY 596,558,660.71 in the same period of 2024[25] - The net cash flow from investment activities for the first three quarters of 2025 is CNY 137,144,117.61, recovering from a negative CNY 435,980,286.40 in the first three quarters of 2024[26] - The total cash and cash equivalents at the end of the period is CNY 650,985,755.11, an increase from CNY 445,037,942.64 at the end of the previous year[26] - The company reported a total operating cash inflow of CNY 1,426,251,716.58 for the first three quarters of 2025, compared to CNY 1,192,097,022.02 in the same period of 2024, representing an increase of 19.7%[25] - The cash outflow for purchasing goods and services in the first three quarters of 2025 is CNY 930,692,972.91, an increase from CNY 685,596,459.33 in the same period of 2024[25] - The company’s financing activities resulted in a net cash outflow of CNY 24,549,590.24 in the first three quarters of 2025, an improvement from a net outflow of CNY 209,861,892.90 in the same period of 2024[26] Assets and Liabilities - Total assets increased by 4.05% to CNY 2,948,289,832.79 compared to the end of the previous year[4] - Current assets as of September 30, 2025, totaled ¥1,783,738,428.29, slightly up from ¥1,749,530,747.37 at the end of 2024[20] - Inventory increased to ¥395,997,486.37 as of September 30, 2025, compared to ¥292,773,859.24 at the end of 2024, indicating a growth of approximately 35.4%[20] - Total liabilities decreased to ¥847,009,530.56 as of September 30, 2025, from ¥1,181,080,638.98 at the end of 2024, representing a reduction of about 28.3%[21] - Shareholders' equity attributable to the parent company rose by 27.36% to CNY 2,105,971,971.54[4] - Shareholders' equity increased to ¥2,101,280,302.23 as of September 30, 2025, compared to ¥1,652,487,275.51 at the end of 2024, reflecting a growth of approximately 27.2%[21] Research and Development - The company invested a total of RMB 79 million in R&D during the reporting period, an increase of approximately 14.58% year-on-year, accounting for 5.45% of operating revenue[13] - Research and development expenses for the first three quarters of 2025 were ¥78,776,282.01, up from ¥68,754,525.39 in 2024, indicating an increase of about 14.6%[23] - The company has ongoing investments in new product development and market expansion strategies, although specific figures were not disclosed in the financial report[22] - The company has established 12 key joint development projects with clients such as Invec, Vidi, and ZTE, enhancing its technological advantages in the liquid cooling sector[13] Business Strategy and Market Presence - The company has initiated a "Quality Improvement and Efficiency Enhancement" action plan for 2025, focusing on core business and continuous R&D investment to enhance competitiveness[11] - The company aims to strengthen its overseas sales service system to enhance brand presence in foreign markets amid challenges in traditional business[12] - The company is exploring external business development through mergers and acquisitions, leveraging the "New Hu Liquid Cooling" brand to provide richer component services[12] Dividends - The total cash dividend amount for the reporting period was approximately RMB 126 million, maintaining a tradition of annual cash dividends since its IPO[17] - The company has completed the distribution of 2024 annual and 2025 semi-annual equity dividends, totaling approximately RMB 981 million since its listing[17] Revenue Growth - In the first three quarters of 2025, the company achieved operating revenue of RMB 1.445 billion, a year-on-year increase of 11.49%[11] - Total operating revenue for the first three quarters of 2025 reached ¥1,444,867,969.26, an increase of approximately 11.5% compared to ¥1,295,991,555.29 in the same period of 2024[22] - The Raike commercial pump business generated approximately RMB 63 million in revenue during the reporting period, representing a year-on-year growth of about 81%[11] - The liquid cooling temperature control business reported revenue of approximately RMB 123 million, with a year-on-year increase of about 87%[11] Operating Costs - Total operating costs for the first three quarters of 2025 were ¥1,308,290,894.06, up from ¥1,123,990,010.79 in 2024, reflecting a year-on-year increase of about 16.4%[23]

Financial Performance - The company's operating revenue for the third quarter reached ¥528,026,517.24, representing a year-on-year increase of 31.58%[5] - The net profit attributable to shareholders decreased by 65.67% to ¥5,531,661.86, while the net profit excluding non-recurring gains and losses fell by 70.06% to ¥4,084,497.74[5] - Basic and diluted earnings per share were both ¥0.03, down 62.50% compared to the same period last year[5] - The company reported a year-to-date net profit attributable to shareholders of ¥7,858,732.98, down 79.40% year-on-year[5] - The company's net profit for the current period is CNY 2,915,332.75, compared to CNY 34,665,969.18 in the previous period, indicating a significant decrease[21] - Operating income for the current period is CNY -1,832,506.95, while the previous period reported CNY 34,846,072.23, reflecting a substantial decline[21] - Total comprehensive income for the current period is CNY 3,233,657.27, down from CNY 35,889,999.42 in the previous period[21] - The company reported a basic and diluted earnings per share of CNY 0.04, compared to CNY 0.2 in the previous period[21] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥2,699,710,639.27, an increase of 4.49% from the end of the previous year[5] - The company reported a significant increase in accounts receivable, rising to ¥293,487,047.32 from ¥245,252,800.86, reflecting a growth of 19.6%[16] - Cash and cash equivalents decreased to ¥252,322,135.79 from ¥299,646,650.57, a decline of 15.8%[16] - Non-current assets totaled ¥1,732,244,702.73, an increase of 10.2% from ¥1,572,149,764.88 at the beginning of the period[17] - Total liabilities increased to ¥1,125,748,276.91, up 12.1% from ¥1,004,071,037.40[17] - The company's equity attributable to shareholders decreased slightly to ¥1,507,757,747.32 from ¥1,523,819,270.19, a decline of 1.1%[17] Cash Flow - The company's net cash flow from operating activities for the year-to-date was ¥85,796,675.28, reflecting a 9.60% increase[5] - Cash flow from operating activities increased to CNY 85,796,675.28 from CNY 78,280,882.35 year-over-year[23] - The company generated CNY 1,421,501,633.81 in cash from sales of goods and services, an increase from CNY 1,083,268,530.78 in the previous period[23] - Investment activities resulted in a net cash outflow of CNY -208,131,883.71, compared to CNY -44,138,496.70 in the previous period[23] - Financing activities produced a net cash inflow of CNY 75,696,731.42, up from CNY 19,287,861.25 year-over-year[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 13,124[10] - The top 10 shareholders hold a total of 34,800,000 shares, with the largest shareholder, Chen Kaisheng, holding 34,800,000 shares, representing a significant portion of the company's equity[12] - The repurchase account holds 1,743,100 shares, accounting for 0.8934% of the total shares, ranking it as the 4th largest shareholder[11] - The company has a total of 96,017,500 shares under lock-up agreements, with 87,500 shares released during the current period[13] - The company has no changes in the number of shares held by the top 10 shareholders due to margin trading activities[12] - The company has a total of 5 shareholders holding more than 5% of the shares, indicating a concentrated ownership structure[12] - The company has no new restrictions on shares during the current period, maintaining the same number of locked shares as before[12] Operational Insights - The gross profit margin has declined, contributing to the decrease in net profit, alongside increased management expenses and depreciation costs[8] - Total operating revenue for the current period reached ¥1,304,695,961.92, an increase of 31.9% compared to ¥988,741,114.11 in the previous period[20] - Total operating costs amounted to ¥1,320,047,604.95, up 36.7% from ¥966,162,548.95 in the prior period[20] - Gross profit margin decreased, with operating costs representing approximately 101.2% of operating revenue in the current period[20] - Research and development expenses rose to ¥43,253,463.99, an increase of 32.6% compared to ¥32,605,334.25 in the previous period[20] - The company reported a net loss from asset impairment of ¥4,863,416.32, compared to a loss of ¥3,917,706.82 in the prior period[20] Future Outlook - The company’s financial report for the quarter ending September 30, 2025, is pending release, indicating ongoing financial assessments[15] - The company has not disclosed any new strategies or market expansions during the current reporting period[14] - The company’s future outlook remains stable with no significant changes in shareholder structure or financial guidance provided[14] - The company continues to focus on maintaining its current shareholder base without any new major investments or acquisitions announced[14]

Revenue Performance - The company's operating revenue for the third quarter was ¥49,635,634.42, a decrease of 48.62% compared to the same period last year[4]. - Year-to-date revenue reached ¥257,676,881.36, down 29.78% from ¥366,948,798.83 in the previous year, primarily due to a decline in project numbers and construction progress[6]. - Total operating revenue for the first three quarters of 2025 was ¥257,676,881.36, a decrease of 29.9% compared to ¥366,948,798.83 in the same period of 2024[19]. - Total operating revenue for the first three quarters of 2025 was CNY 257.68 million, a decrease of 29.8% compared to CNY 366.95 million in the same period of 2024[29]. Profit and Earnings - The total profit for the third quarter was -¥20,843,109.30, with a year-to-date net profit of -¥30,241,765.89, attributed to decreased revenue and increased financial expenses[4][6]. - The basic earnings per share for the third quarter was -¥0.05, and the diluted earnings per share was also -¥0.05[5]. - Net profit for the first three quarters of 2025 was a loss of ¥30,745,958.22, compared to a profit of ¥12,295,344.69 in the same period of 2024[20]. - Basic and diluted earnings per share for the first three quarters of 2025 were both -¥0.07, compared to ¥0.03 in 2024[21]. - Net profit for the first three quarters of 2025 was a loss of CNY 28.16 million, compared to a net profit of CNY 17.39 million in the first three quarters of 2024[30]. Cash Flow - Cash flow from operating activities for the year-to-date period increased by 41.82% to ¥190,670,224.92, due to reduced payments for project costs and employee salaries[4][10]. - Cash flow from operating activities for the first three quarters of 2025 was ¥190,670,224.92, an increase of 42% from ¥134,444,469.47 in 2024[24]. - Cash inflow from operating activities in the first three quarters of 2025 was CNY 819.56 million, down from CNY 1.38 billion in the same period of 2024, representing a decline of 40.5%[31]. - Cash flow from operating activities net amount was $183.64 million, an increase from $135.31 million in the previous period, reflecting a growth of approximately 35.6%[32]. - Total cash outflow from operating activities was $635.92 million, down from $1.24 billion, indicating a reduction of about 48.8%[32]. Assets and Liabilities - The total assets at the end of the reporting period were ¥6,561,771,394.64, a decrease of 5.22% from the previous year[5]. - The company's current assets totaled RMB 6,086,920,174.78, down from RMB 6,430,366,063.03, indicating a decrease of about 5.4%[16]. - The total liabilities of the company were RMB 3,866,786,091.73, compared to RMB 4,189,296,734.59, reflecting a reduction of approximately 7.7%[17]. - The company's total assets as of September 30, 2025, were CNY 6.61 billion, down from CNY 6.98 billion at the end of 2024, a decrease of 5.3%[28]. - Total liabilities as of September 30, 2025, were CNY 3.96 billion, a decrease of 7.9% from CNY 4.30 billion at the end of 2024[27]. Shareholder Equity - The equity attributable to shareholders of the listed company was ¥2,645,195,957.67, down 1.13% from the previous year[5]. - The company's total equity attributable to shareholders was RMB 2,645,195,957.67, down from RMB 2,675,437,723.56, indicating a decrease of about 1.1%[18]. - The company's total equity as of September 30, 2025, was CNY 2.65 billion, a slight decrease from CNY 2.68 billion at the end of 2024[28]. Financial Expenses and Investments - Financial expenses for the first three quarters of 2025 were ¥18,463,635.89, compared to a financial income of ¥8,492,625.92 in 2024[19]. - The company reported a total cash outflow from investing activities of -¥896,590.00 for the first three quarters of 2025, compared to -¥1,269,179.00 in 2024[24]. - The company incurred a total cash outflow from financing activities of -¥166,826,698.19 in the first three quarters of 2025, compared to -¥207,324,670.78 in 2024[24]. Other Information - The company has not reported any significant changes in its major shareholders or their participation in margin financing activities[14]. - The company plans to implement new accounting standards starting in 2025, which may affect the financial statements[33]. - The board of directors announced the financial results on October 29, 2025[34].

Financial Performance - Q3 2025 revenue reached ¥280,926,367.08, an increase of 4.54% year-over-year[5] - Net profit attributable to shareholders was ¥9,299,970.16, up 28.17% compared to the same period last year[5] - Net profit attributable to shareholders after deducting non-recurring gains and losses increased by 133.61% to ¥6,658,650.69[5] - Total operating revenue for Q3 2025 reached ¥804,605,937.73, an increase of 2.3% compared to ¥784,897,417.12 in the same period last year[18] - Net profit for the period was ¥18,156,284.20, a decrease of 63.6% from ¥49,840,350.27 in the previous year[19] - The total comprehensive income attributable to the parent company was CNY 22,917,437.01, compared to CNY 52,884,143.43 in the previous period, reflecting a significant decrease[20] - The company reported a basic and diluted earnings per share of CNY 0.05, down from CNY 0.11 in the previous period[20] Assets and Liabilities - Total assets decreased by 3.70% to ¥2,052,287,618.04 compared to the end of the previous year[5] - The company's total assets decreased to ¥2,052,287,618.04 from ¥2,131,041,224.15, a decline of 3.7%[16] - Total liabilities decreased to ¥473,049,825.26, down from ¥579,722,471.12, representing a reduction of 18.3%[16] - The equity attributable to shareholders of the parent company increased to ¥1,492,277,550.75 from ¥1,468,060,184.14, a growth of 1.6%[16] Cash Flow - Cash flow from operating activities showed a net decrease of 89,664,075.99, reflecting a 47.08% increase in cash received from sales[5][8] - The net cash flow from operating activities was negative at CNY -89,664,075.99, an improvement from CNY -169,424,440.47 in the previous period[23] - Cash inflow from operating activities totaled CNY 844,192,613.03, slightly up from CNY 824,837,150.68 year-over-year[22] - The company’s cash and cash equivalents decreased to ¥308,753,502.72 from ¥667,378,911.44[14] - The company’s cash and cash equivalents decreased to ¥1,331,069,755.19 from ¥1,447,797,765.62, a decline of 8.0%[16] - The company experienced a net decrease in cash and cash equivalents of CNY -358,120,404.12, compared to CNY -470,096,373.18 in the previous period[23] Investments and Shareholder Information - The company reduced its stake in Shanghai Zhishang Creative Design Co., Ltd. by 31%, losing control and excluding it from consolidated financial statements[12] - The company made two new investments through its subsidiary, acquiring 12.5% of Wenzhou Cuiyi Mountain Catering Co., Ltd. and 50% of Wenzhou Qiuming Glasses Co., Ltd.[11] - The total number of common shareholders at the end of the reporting period is 16,216[9] - The largest shareholder, Chi Fangran, holds 13.73% of shares, totaling 69,282,566 shares[9] Expenses - Total operating costs increased to ¥756,409,190.02, up from ¥729,826,868.80, reflecting a rise of 3.4% year-over-year[18] - Research and development expenses for the quarter were ¥52,988,879.39, down from ¥56,817,427.72, a decrease of 6.3%[18] - The company reported a significant decrease in financial expenses, improving to -¥1,510,414.27 from -¥5,378,029.31[19] Other Financial Metrics - The basic earnings per share for the period was ¥0.0184, a slight increase of 0.25%[5] - The weighted average return on net assets was 0.62%, a decrease of 2.15% compared to the previous year[5] - The company’s deferred income tax assets increased to ¥45,321,682.93 from ¥42,296,984.65, an increase of 7.1%[16] Regulatory and Audit Information - The company completed the registration of amendments to its articles of association and various internal regulations in September 2025[11] - The company did not undergo an audit for the third quarter financial report[24]

Financial Performance - The company's revenue for the third quarter reached ¥268,891,438.75, representing a year-on-year increase of 14.84%[5] - Total profit for the quarter was ¥94,482,673.79, reflecting a growth of 15.15% compared to the same period last year[5] - Net profit attributable to shareholders was ¥80,544,844.12, which is an increase of 14.66% year-on-year[5] - The company reported a basic earnings per share of ¥0.43, down 17.31% from the previous year[5] - Total operating revenue for the first three quarters of 2025 reached ¥739,977,084.87, an increase of 14.14% compared to ¥648,212,560.07 in the same period of 2024[22] - Net profit for the first three quarters of 2025 was ¥227,790,423.92, representing a 15.11% increase from ¥197,925,768.02 in 2024[24] - Earnings per share for the first three quarters of 2025 were ¥1.21, compared to ¥1.46 in the same period of 2024[24] - The total comprehensive income for the first three quarters of 2025 was ¥224,196,264.76, compared to ¥192,832,627.33 in 2024, an increase of 16.21%[24] Research and Development - Research and development expenses totaled ¥6,668,880.89, a decrease of 32.84% compared to the same quarter last year[7] - Research and development expenses for the first three quarters of 2025 were ¥28,123,808.36, slightly up from ¥26,571,798.82 in 2024, reflecting a growth of 5.84%[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,142,102,783.86, down 4.45% from the end of the previous year[7] - The company's current assets totaled approximately CNY 1.99 billion, down from CNY 2.21 billion at the end of 2024, indicating a decrease of around 10.0%[17] - The total liabilities stood at approximately CNY 1.73 billion, down from CNY 1.83 billion, reflecting a decrease of about 5.5%[18] - Total liabilities decreased to ¥1,677,667,842.33 in 2025 from ¥1,927,577,592.28 in 2024, a reduction of approximately 12.93%[22] - The company reported a total equity of approximately CNY 1.41 billion, compared to CNY 1.46 billion, indicating a decline of about 3.4%[18] - Total equity increased to ¥1,464,434,941.53 in 2025 from ¥1,360,734,757.27 in 2024, marking a growth of about 7.64%[22] Cash Flow - Cash flow from operating activities for the year-to-date was ¥129,651,157.67, showing a decline of 17.87% compared to the previous year[5] - Cash inflow from operating activities totaled $2,298,974,542.64, slightly up from $2,297,128,980.36 in the previous period, indicating a marginal increase of 0.08%[29] - Net cash outflow from investing activities was $517,234,329.75, a decrease from $753,054,352.72, reflecting a reduction of approximately 31.4%[29] - Cash inflow from financing activities amounted to $1,320,311,156.00, down from $1,454,292,504.00, representing a decline of about 9.2%[31] - The net increase in cash and cash equivalents was $56,022,017.63, contrasting with a decrease of -$166,870,747.34 in the prior period[31] - The ending balance of cash and cash equivalents stood at $510,928,489.04, up from $459,874,313.09[31] Shareholder Information - The company held a total of 2,844,565 shares in its repurchase account, accounting for 1.51% of the total share capital[14] - The company has not engaged in any share lending or borrowing activities during the reporting period[15] - There were no significant changes in the top 10 shareholders or their shareholding due to share lending activities[16]

公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 北京康辰药业股份有限公司 2025 年第三季度报告 证券代码：603590 证券简称：康辰药业 北京康辰药业股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 单位：元 币种：人民币 | | | 本报告期比 | | 年初至报告期 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期增 | 年初至报告期末 | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 231,351,151.37 | -4.12 | 6 ...

Financial Performance - The company's operating revenue for Q3 2025 was CNY 72.93 million, a decrease of 88.51% compared to the same period last year, which reported CNY 623.54 million[3]. - The total profit for the quarter was a loss of CNY 12.70 million, compared to a loss of CNY 355.05 million in the same period last year, indicating a significant improvement[3]. - The net profit attributable to shareholders was a loss of CNY 14.02 million, compared to a loss of CNY 339.01 million in the previous year, showing a reduction in losses[3]. - The basic earnings per share for the quarter was -CNY 0.006, compared to -CNY 0.164 in the same period last year[4]. - Total revenue for the first three quarters of 2025 was CNY 221,491,241.05, a significant decrease from CNY 3,461,595,882.09 in the same period of 2024, representing a decline of approximately 93.6%[18]. - Operating profit for the first three quarters of 2025 was a loss of CNY 32,328,038.81, compared to a loss of CNY 634,714,977.39 in the same period of 2024, showing an improvement in loss margin[18]. - The net profit for the first three quarters of 2025 was -36,501,235.84 RMB, a significant improvement compared to -664,135,078.87 RMB in the same period of 2024, indicating a reduction in losses[19]. - The total comprehensive income for the first three quarters of 2025 was -36,501,235.84 RMB, compared to -664,135,078.87 RMB in 2024, reflecting a substantial reduction in overall losses[19]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,741.01 million, a decrease of 17.18% from the previous year[4]. - The total assets as of September 30, 2025, were CNY 1,741,011,660.24, down from CNY 2,102,129,133.07 at the end of 2024, reflecting a decrease of approximately 17.2%[16]. - Current assets totaled CNY 494,284,298.89 as of September 30, 2025, compared to CNY 883,485,425.01 at the end of 2024, a decline of about 44%[16]. - Total liabilities decreased to CNY 1,108,127,242.50 as of September 30, 2025, from CNY 1,432,743,479.49 at the end of 2024, representing a reduction of approximately 22.6%[17]. - The total liabilities increased significantly from CNY 372,570,999.49 to CNY 56,236,210.52, indicating a reduction of about 84.9%[25]. - The company’s total equity attributable to shareholders was CNY 632,884,417.74 as of September 30, 2025, down from CNY 669,385,653.58 at the end of 2024, reflecting a decrease of about 5.5%[17]. - The total equity decreased from CNY 270,772,533.58 as of December 31, 2024, to CNY 243,188,481.72 as of September 30, 2025, a decline of about 10.2%[27]. Cash Flow - The cash flow from operating activities was CNY 941.94 million, a significant improvement from -CNY 165.34 million in the previous year[4]. - The net cash flow from operating activities for the first three quarters of 2025 was 9,419,432.98 RMB, contrasting with a negative cash flow of -1,645,572,544.92 RMB in 2024, showing a positive turnaround[22]. - The company’s cash flow from operating activities was significantly impacted by a decrease in cash received from sales, which was 202,159,820.73 RMB in 2025 compared to 1,684,437,783.72 RMB in 2024[22]. - The cash and cash equivalents at the end of September 2025 were CNY 41,959,758.19, down from CNY 148,450,737.85 at the beginning of the period, reflecting a decrease of approximately 71.7%[32]. - Total cash and cash equivalents at the end of September 2025 were 149,577,129.13 RMB, down from 679,932,215.70 RMB at the end of 2024, reflecting a decrease in liquidity[23]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 39,342[10]. - Beijing Huayuan Group Co., Ltd. holds 47.39% of the shares, amounting to 1,111,769,408 shares, with 220,000,000 shares pledged[10]. - The company plans to increase its shareholding by investing between RMB 35 million and RMB 65.69 million over the next 24 months, having already acquired 23,184,600 shares, representing 0.99% of the total share capital[11]. Operational Highlights - The hotel occupancy rate reached 86% in the third quarter, with July achieving a record high of 94.4%[14]. - The hotel received multiple awards, including recognition from the China Hotel Association for its culinary excellence[14]. - The company managed over 1.2 million square meters of property, with non-residential properties accounting for more than half of the portfolio[12]. - The company is focusing on talent acquisition and training to support its business expansion and service capability enhancement[12]. Other Financial Metrics - The company reported non-recurring gains and losses amounting to CNY 615.12 million for the current period[8]. - The company received government subsidies totaling CNY 15,000 for the current period, contributing to its financial performance[8]. - The company reported cash inflows from investment activities of 1,929,850,904.00 RMB in 2025, compared to only 1,522,318.92 RMB in 2024, indicating a strong performance in investment recovery[22]. - The total cash outflow from financing activities in the first three quarters of 2025 was 1,195,259,979.42 RMB, significantly lower than 11,801,789,438.55 RMB in 2024, suggesting a reduction in financing costs[23]. - The company reported a significant increase in management expenses, rising from CNY 3,999,550.52 in 2024 to CNY 13,459,408.97 in 2025, an increase of approximately 236%[29]. - Financial expenses surged to CNY 20,013,839.95 in 2025, compared to a negative CNY -10,705,106.06 in 2024, indicating a substantial increase in interest costs[29]. Accounting Changes - The new accounting standards or interpretations will be implemented starting from 2025, affecting the financial statements from the beginning of that year[33].

Revenue and Profit - Q3 2025 revenue was CNY 1,150,412,424.54, a decrease of 3.84% year-over-year, while year-to-date revenue decreased by 15.70% to CNY 3,266,516,454.83[4] - Net profit attributable to shareholders for Q3 2025 was CNY 20,469,016.70, an increase of 165.89% year-over-year, with year-to-date net profit increasing by 157.68% to CNY 72,531,352.12[4] - Basic earnings per share for Q3 2025 was CNY 0.0339, up 165.95% year-over-year, and year-to-date earnings per share was CNY 0.1200, an increase of 157.69%[4] - Total operating revenue decreased to ¥3,266,516,454.83 from ¥3,875,031,108.86, representing a decline of approximately 15.7% year-over-year[17] - Net profit for the period was ¥72,248,418.23, a significant recovery from a net loss of ¥245,963,011.74 in the previous period[18] - Basic and diluted earnings per share improved to ¥0.1200 from a loss of ¥0.2080 per share in the prior year[18] Assets and Liabilities - Total assets at the end of Q3 2025 were CNY 5,153,593,176.07, a decrease of 0.60% compared to the end of the previous year[4] - Total liabilities decreased to ¥3,727,910,938.49 from ¥3,840,049,214.28, a decrease of approximately 2.9%[16] - The company's total equity attributable to shareholders increased to ¥1,428,556,626.28 from ¥1,347,117,720.01, an increase of approximately 6.5%[16] - As of September 30, 2025, total current assets amount to RMB 3,009,069,734.70, an increase from RMB 2,974,444,899.43 at the beginning of the period[14] - The company's long-term equity investments increased to RMB 338,887,618.21 from RMB 205,514,065.94[14] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 392,306,883.00 year-to-date, a significant decline of 971.61%[4] - Net cash flow from operating activities was negative at -392,306,883.00, a significant decline compared to a positive cash flow of 45,009,322.73 in the previous period[21] - Total cash inflow from operating activities was 2,068,262,925.05, while cash outflow was 2,460,569,808.05, resulting in a net cash outflow of 392,306,883.00[21] - Cash inflow from investment activities totaled 175,020,320.00, with a net cash flow of 85,888,316.57, contrasting with a net outflow of -75,402,994.18 in the previous period[21] - Cash inflow from financing activities was 876,726,865.87, leading to a net cash flow of 444,616,182.11, compared to a net outflow of -65,610,252.22 previously[21] - The total cash and cash equivalents at the end of the period increased to 217,616,185.53 from 143,151,412.79[21] Expenses and Costs - Total operating costs decreased to ¥3,113,100,436.89 from ¥4,125,364,185.64, a reduction of about 24.5% year-over-year[17] - Management expenses decreased by 43.17% year-over-year, primarily due to the exclusion of the former subsidiary Meta from the consolidated financial statements[8] - Research and development expenses decreased to ¥133,582,954.87 from ¥185,290,772.33, a reduction of about 28% year-over-year[17] - The company reported a decrease in cash paid for purchasing goods and services, totaling 1,592,235,131.80, down from 2,080,172,491.65[21] - Cash paid to employees was 615,636,885.99, a slight decrease from 677,675,720.90 in the previous period[21] - Cash paid for taxes was 96,407,242.67, down from 116,112,058.53, indicating a reduction in tax liabilities[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 75,253[10] - The largest shareholder, Shenzhen Desheng Asset Management Co., Ltd., holds 3.60% of shares, totaling 21,744,933 shares[10] - The total number of shares held by the top 10 shareholders includes significant stakes from both domestic and foreign entities[11] - The company has a total of 21,744,933 unrestricted shares held by its largest shareholder, which is significant for liquidity considerations[11] Equity Transfers and Investments - The company completed the transfer of 42% equity in Liuzhou Shuangfei for RMB 39,855.87 million, with the first payment of RMB 16,400 million received in March 2023[12] - The company has a remaining equity transfer payment of RMB 124,558,737.29 yet to be collected[13] - The company has ongoing efforts to recover the remaining equity transfer payments and will fulfill disclosure obligations[13] - Long-term equity investments increased by 64.90% year-to-date, amounting to an increase of CNY 133,373,600, attributed to debt restructuring of receivables[7] Other Financial Information - Investment income decreased by 79.77% year-over-year, reflecting a decline in net profits from associated enterprises[8] - Other comprehensive income after tax attributable to the parent company was ¥8,907,554.15, compared to ¥5,210,738.54 in the previous period[18] - The financial report for the third quarter was not audited, which may affect the reliability of the reported figures[23]