香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不就因本公告全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任 何責任。 中國工商銀行股份有限公司 INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED （於中華人民共和國註冊成立的股份有限公司） 股份代號：1398 中國工商銀行股份有限公司 二〇二五年第三季度報告 中國工商銀行股份有限公司（「本行」）董事會宣佈本行及其子公司（「本集團」）截至2025 年9月30日止第三季度的業績。本公告乃根據《證券及期貨條例》（香港法例第571章）第 XIVA部及《香港聯合交易所有限公司證券上市規則》第13.09條的要求而作出。 重要內容提示： 本行董事會及董事、高級管理人員保證季度報告內容的真實、準確、完整，不存在虛假 記載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責任。 本行法定代表人廖林、主管財會工作負責人劉珺及財會機構負責人許志勝保證本季度報 告中財務信息的真實、準確、完整。 本季度財務報表未經審計。 1 一、主要財務數據 （一）主要會 ...

Financial Performance - The company's operating revenue for the third quarter was approximately ¥14.88 billion, a decrease of 13.98% compared to the same period last year[4] - The total profit for the quarter was approximately ¥5.81 billion, reflecting a decline of 2.83% year-over-year[4] - The net profit attributable to shareholders was approximately ¥2.72 billion, down 3.94% from the previous year[4] - The net profit after deducting non-recurring gains and losses was approximately ¥2.72 billion, an increase of 3.42% compared to the same period last year[4] - The company reported a basic earnings per share of ¥0.3357, a decrease of 10.05% compared to the same period last year[5] - Total operating revenue for the first three quarters of 2025 was CNY 40.57 billion, a decrease of 8.3% compared to CNY 44.40 billion in the same period of 2024[18] - The operating profit for the first three quarters of 2025 was CNY 14.07 billion, compared to CNY 13.91 billion in the same period of 2024, reflecting an increase of approximately 1.2%[19] - The net profit attributable to shareholders of the parent company was CNY 6.52 billion, down from CNY 6.58 billion year-over-year, a decrease of about 1.3%[19] - The total comprehensive income for the first three quarters of 2025 was CNY 11.90 billion, slightly lower than CNY 11.96 billion in the previous year, indicating a decrease of around 0.5%[20] - The basic and diluted earnings per share for the current period were CNY 0.8135, down from CNY 0.8634 in the same period last year, a decline of approximately 5.8%[20] Assets and Equity - Total assets at the end of the reporting period were approximately ¥314.01 billion, an increase of 5.89% from the end of the previous year[5] - Shareholders' equity attributable to the parent company was approximately ¥71.97 billion, up 16.10% year-over-year[5] - Total assets reached CNY 314.01 billion, up from CNY 296.54 billion, indicating a growth of 5.9% year-over-year[16] - The company's equity increased to CNY 121.96 billion, a rise of 11.8% from CNY 109.07 billion in the previous year[16] Cash Flow - The net cash flow from operating activities for the year-to-date was approximately ¥24.07 billion, an increase of 12.69%[4] - Cash flow from operating activities for the first three quarters of 2025 was CNY 24.07 billion, an increase from CNY 21.36 billion in 2024, representing a growth of about 12.7%[21] - Cash flow from investing activities showed a net outflow of CNY 9.66 billion, an improvement from a net outflow of CNY 14.08 billion in the previous year[22] - Cash flow from financing activities resulted in a net outflow of CNY 5.57 billion, slightly better than the net outflow of CNY 5.76 billion in the same period last year[22] - The total cash and cash equivalents at the end of the period reached CNY 18.95 billion, up from CNY 12.60 billion at the end of the previous year, an increase of approximately 50.9%[22] Shareholder Information - Total number of common shareholders at the end of the reporting period is 114,631[11] - The largest shareholder, State Development Investment Corporation, holds 3,825,443,039 shares, representing 47.79% of total shares[11] - The company has no significant changes in the top 10 shareholders or their shareholding status[12] Operational Efficiency - The company reported a net profit margin improvement, with net profit for the period reflecting operational efficiencies[18] - The company reported a decrease in operating expenses, with cash paid for goods and services amounting to CNY 12.62 billion, down from CNY 17.45 billion in the previous year, a reduction of about 27.3%[21] Non-Recurring Items - Non-recurring gains and losses for the quarter included a government subsidy of approximately ¥25.44 million[7] - The company did not report any net profit from subsidiaries prior to the merger, indicating no impact from such activities on the current financial results[20] Future Outlook - The company plans to focus on market expansion and new product development to drive future growth[18]

Financial Performance - Operating income for Q3 2025 reached RMB 41,721 million, a year-on-year increase of 0.31%[3] - Net profit attributable to shareholders for Q3 2025 was RMB 9,082 million, reflecting a growth of 10.29% compared to the same period last year[3] - Basic earnings per share for Q3 2025 increased to RMB 0.30, up 30.43% year-on-year[10] - The group achieved operating income of CNY 1,322.80 billion, a year-on-year increase of CNY 24.41 billion or 1.88%[24] - The net profit attributable to shareholders of the parent company was CNY 388.19 billion, up CNY 35.96 billion or 10.21% year-on-year[24] - The net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, was CNY 389.00 billion, an increase of CNY 49.39 billion or 14.54%[24] - The group's net profit for Q3 2025 reached RMB 9,277 million, representing a 10.9% increase from RMB 8,363 million in Q3 2024[91] - The group's total profit for Q3 2025 was RMB 8,878 million, an increase of 22.2% compared to RMB 7,266 million in Q3 2024[90] Assets and Liabilities - The total assets as of the end of the reporting period amounted to RMB 9,892,214 million, representing a 4.55% increase from the previous year[5] - The total liabilities of the group were CNY 90,513.70 billion, up CNY 3,342.71 billion or 3.83% from the previous year[24] - The total assets of the group reached RMB 9,892,214 million as of September 30, 2025, an increase from RMB 9,461,880 million as of December 31, 2024, representing a growth of approximately 4.6%[84] - The group reported a total liabilities of RMB 9,051,370 million as of September 30, 2025, compared to RMB 8,717,099 million as of December 31, 2024, marking an increase of about 3.8%[85] Loan and Deposit Growth - The total loans (including discounted bills) amounted to CNY 56,721.30 billion, increasing by CNY 2,806.00 billion or 5.20% year-on-year[24] - The total deposits (in both domestic and foreign currencies) reached CNY 56,187.17 billion, an increase of CNY 4,727.58 billion or 9.19%[24] - The total loan amount of the group (including bill discounting) increased by CNY 280.6 billion, a growth of 5.20% compared to the end of the previous year[25] - The total deposits of the group increased by CNY 472.76 billion, a growth of 9.19% compared to the end of the previous year[25] - The balance of corporate deposits reached CNY 3,836.01 billion, an increase of CNY 300.65 billion, a growth of 8.50% compared to the end of the previous year[29] - The balance of corporate loans (including bill discounting) reached CNY 4,041.414 billion, an increase of CNY 242.35 billion, a growth of 6.38% compared to the end of the previous year[30] Risk Management - The non-performing loan ratio improved to 1.29%, down 0.07 percentage points from the previous year[5] - The non-performing loan balance decreased by CNY 0.265 billion to CNY 72.889 billion, with a non-performing loan ratio of 1.29%, down by 0.07 percentage points from the end of the previous year[25] - The provision coverage ratio rose to 198.04%, an increase of 11.08 percentage points compared to the end of last year, indicating enhanced risk compensation capacity[66] - The provision coverage ratio is at 192.48%, significantly above the regulatory requirement of 130%[74] Customer Growth and Engagement - The number of customers reached 2.4764 million, an increase of 107,900 customers, representing a growth of 4.56% compared to the end of the previous year[28] - The number of personal customers (including credit cards) reached 167 million, an increase of 10.57 million or 6.37% year-on-year[50] - The number of inclusive loan customers exceeded 470,000, growing by over 16% year-on-year[38] Capital and Investment - Total capital increased to RMB 1,014,340 million, up from RMB 967,231 million year-over-year, representing a growth of 4.9%[69] - Core Tier 1 capital rose to RMB 704,530 million, compared to RMB 660,296 million last year, reflecting an increase of 6.7%[69] - The company has established the "Pudong Innovation Fund" to support strategic emerging industries such as artificial intelligence and new energy[63] Operational Efficiency - Cash flow from operating activities for the first nine months of 2025 was RMB 165,476 million, a significant increase of 202.53% compared to the same period last year[10] - The group's cash flow from operating activities for the first nine months of 2025 was RMB 165,476 million, a significant improvement from a cash outflow of RMB 161,398 million in the same period of 2024[93] - The group plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and customer service[87]

Financial Performance - Total revenue for Q3 2025 was RMB 15,370 million, a decrease of 5.71% compared to RMB 16,215 million in the same period last year[5] - Net profit attributable to shareholders of the parent company for Q3 2025 was RMB 6,011 million, down 1.85% from RMB 6,039 million year-on-year[5] - The net profit margin for the year-to-date period increased slightly by 0.26% to RMB 21,064 million compared to RMB 20,618 million in the previous year[5] - Basic earnings per share for Q3 2025 was RMB 0.27, a decline of 6.90% compared to RMB 0.29 in the same period last year[5] - The weighted average return on equity for Q3 2025 was 8.36%, down 1.00 percentage points from 9.19% in the previous year[5] - For the first three quarters of 2025, the company reported operating income of CNY 515.88 billion, a year-on-year decrease of 1.08%, and a net profit attributable to shareholders of CNY 210.64 billion, an increase of 0.26%[26] - Net profit for the first three quarters of 2025 reached RMB 21,105 million, slightly up from RMB 21,060 million in 2024, indicating a marginal increase of 0.2%[47] - The bank's total operating income for the first three quarters of 2025 was RMB 51,588 million, a slight decrease from RMB 52,151 million in 2024, down by 1.1%[47] Asset and Liability Management - Total assets at the end of Q3 2025 reached RMB 4,892,227 million, reflecting a year-on-year increase of 15.95% from RMB 4,027,327 million[6] - Total liabilities amounted to RMB 4,505,082 million, a significant rise from RMB 3,863,202 million in 2024, marking an increase of 16.6%[46] - The total equity attributable to shareholders of the parent company increased to RMB 385,723 million, an 8.74% increase from RMB 353,733 million at the end of the previous year[6] - The total cash inflow from investment activities for the first three quarters of 2025 was RMB 1,287,458 million, up from RMB 546,926 million in 2024, marking an increase of 134.8%[50] Loan and Deposit Growth - The non-performing loan ratio improved to 1.29%, a decrease of 0.02 percentage points from 1.31% at the end of the previous year[8] - Company deposits grew by CNY 1,214 billion to CNY 18,255 billion, reflecting a 7.12% increase, while company loans (excluding discounts) rose by 11.98% to CNY 14,341 billion[36] - The bank's total financing for key sectors exceeded 670 billion RMB, covering over 4,400 clients[38] - The bank's green finance loan balance reached 265.46 billion RMB, growing by 26.20% year-on-year[39] Cash Flow Analysis - The net cash flow from operating activities for the year-to-date period was RMB 333,319 million, a significant increase of 354.99% compared to RMB 73,258 million in the previous year[5] - The net cash flow from financing activities for the first three quarters of 2025 was RMB 158,966 million, a significant rise from RMB 18,942 million in 2024, representing an increase of 738.5%[50] - The ending balance of cash and cash equivalents as of the end of the third quarter of 2025 was RMB 594,836 million, compared to RMB 369,045 million at the end of the same period in 2024, an increase of 61.0%[50] Capital and Risk Management - The provision coverage ratio decreased to 195.79%, down 12.96 percentage points from 208.75% at the end of the previous year[8] - The core Tier 1 capital ratio is 8.44% as of September 30, 2025, down from 8.95% at the end of 2024[21] - The total risk-weighted assets amount to RMB 3,152,500 million as of September 30, 2025, compared to RMB 2,911,405 million at the end of 2024[21] - The liquidity coverage ratio is 160.87% as of September 30, 2025, indicating strong liquidity position[24] Customer and Market Development - Retail customer base surpassed 31 million, with personal loan balance reaching CNY 7,056.84 billion, a year-on-year growth of 1.99%[29] - The bank's total customer base reached 351,873, an increase of 51,333 customers or 17.08% compared to the beginning of the year[38] - The company actively participated in the "Four Seasons Green Forum" to enhance its brand image in the elderly finance sector, with 1.9 million personal pension accounts opened, 67.89% of which are in Beijing[31] Strategic Initiatives - The company aims to optimize its operational system and embrace technological changes to achieve high-quality development[25] - The company has established a strategic framework referred to as "123456" to guide its operations and development[25]

Financial Performance - The company's operating revenue for the third quarter reached ¥304,958,995.64, representing a year-on-year increase of 57.59%[3] - The total profit for the period was a loss of ¥87,938,464.35, while the net profit attributable to shareholders was a loss of ¥91,971,022.57[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥105,532,271.93 for the current period[3] - Total revenue for the first three quarters of 2025 reached ¥950,746,330.61, a significant increase of 97.3% compared to ¥482,973,313.02 in the same period of 2024[17] - The net loss for the first three quarters of 2025 was ¥291,035,242.08, an improvement from a net loss of ¥422,698,095.87 in the same period of 2024[18] - The company reported a decrease in comprehensive income, totaling -¥262,114,776.52 for the first three quarters of 2025, compared to -¥422,589,816.64 in 2024[19] Research and Development - Research and development expenses amounted to ¥94,006,092.40, accounting for 30.83% of operating revenue, a decrease of 10.91 percentage points compared to the previous year[4] - Research and development expenses for the first three quarters of 2025 amounted to ¥296,542,451.90, up from ¥261,807,259.03 in 2024, reflecting a 13.2% increase[17] Cash Flow and Liquidity - The net cash flow from operating activities was ¥155,206,972.42, indicating a significant increase due to large sales receipts during the period[3][8] - Cash generated from operating activities was ¥1,050,252,459.93 in the first three quarters of 2025, compared to ¥562,898,946.25 in 2024, indicating a 86.5% increase[21] - Net cash flow from operating activities improved to $194.74 million in 2025, compared to a negative cash flow of $448.06 million in 2024[22] - The ending cash and cash equivalents balance for 2025 was approximately $1.23 billion, compared to $637.55 million at the end of 2024, reflecting a net increase of $322.67 million[23] Assets and Liabilities - Total assets increased by 15.85% year-on-year, reaching ¥5,697,936,400.26[4] - The company's total assets reached ¥5,697,936,400.26 as of September 30, 2025, compared to ¥4,918,496,203.98 at the end of 2024[15] - The company's total liabilities increased to ¥1,802,370,993.79 as of September 30, 2025, compared to ¥972,542,538.57 at the end of 2024[14] - The total liabilities decreased to CNY 2.73 billion from CNY 2.83 billion, indicating a decline of about 3.5%[12] Shareholder Information - The company reported a total of 42,338 common shareholders at the end of the reporting period[10] - The basic and diluted earnings per share were both -¥0.26 for the current period[3] - The basic and diluted earnings per share for the first three quarters of 2025 were both -¥0.84, an improvement from -¥1.20 in the same period of 2024[19] Market and Strategic Focus - The company is focusing on expanding its market presence and developing new technologies, although specific figures were not disclosed in the conference call[12]

Financial Performance - The company's operating revenue for the third quarter was ¥196,240,939.39, a decrease of 17.02% compared to the same period last year[4] - The total profit for the quarter was ¥780,021.89, down 95.82% year-on-year[4] - The net profit attributable to shareholders was ¥1,509,261.97, reflecting a decline of 92.67% compared to the previous year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥4,130,306.22, a decrease of 123.13% year-on-year[4] - The basic earnings per share for the quarter was ¥0.001, down 94.25% from the same period last year[4] - Total operating revenue for the first three quarters of 2025 was CNY 644,424,537.51, a decrease of 11.3% compared to CNY 726,481,253.76 in the same period of 2024[20] - Net profit for the first three quarters of 2025 was CNY 9,931,659.20, a significant decline of 83.2% compared to CNY 58,956,695.17 in the same period of 2024[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,957,377,564.69, an increase of 1.35% compared to the end of the previous year[5] - The company's total liabilities as of September 30, 2025, amounted to CNY 486,308,450.43, an increase of 6.5% from CNY 456,891,635.47 at the end of 2024[18] - The company's total equity attributable to shareholders as of September 30, 2025, was CNY 2,471,069,114.26, a slight increase from CNY 2,461,137,455.06 at the end of 2024[18] - Total assets as of September 30, 2025, are ¥2,957,377,564.69, compared to ¥2,918,029,090.53 at the end of 2024[16] Shareholder Information - The total number of common shareholders at the end of the reporting period is 79,985[12] - The largest shareholder, China Electronics Technology Group Corporation, holds 303,590,748 shares, representing 25.64% of total shares[12] Research and Development - The company reported a significant increase in R&D expenses, which rose by ¥402 million compared to the previous year[9] - Research and development expenses for the first three quarters of 2025 were CNY 145,017,675.38, up from CNY 126,900,440.55 in 2024, indicating a growth of 14.2%[20] Cash Flow - The cash flow from operating activities increased by ¥177.21 million year-on-year, primarily due to changes in payment methods and increased cash receipts from sales[10] - Cash inflow from operating activities for the first three quarters of 2025 was $686.29 million, slightly down from $692.23 million in the same period of 2024, representing a decrease of 0.13%[23] - Net cash flow from operating activities for the first three quarters of 2025 was $33.06 million, a significant improvement compared to a net outflow of $144.16 million in the first three quarters of 2024[23] - Total cash outflow from operating activities in the first three quarters of 2025 was $653.23 million, down from $836.39 million in the same period of 2024, indicating a reduction of 22%[23] - Cash outflow for investing activities in the first three quarters of 2025 was $6.35 million, a substantial decrease from $43.97 million in the same period of 2024, reflecting a reduction of 85%[24] - Net cash flow from investing activities for the first three quarters of 2025 was -$6.35 million, compared to -$43.97 million in the same period of 2024, showing an improvement of 86%[24] - Cash outflow from financing activities in the first three quarters of 2025 was $4.47 million, significantly lower than $45.05 million in the same period of 2024, indicating a decrease of 90%[24] - The net increase in cash and cash equivalents for the first three quarters of 2025 was $22.36 million, contrasting with a net decrease of $233.04 million in the same period of 2024[24] - The ending balance of cash and cash equivalents as of the end of the first three quarters of 2025 was $845.76 million, up from $754.07 million at the end of the same period in 2024[24] Market Conditions - The company faced increased competition in the consumer electronics market, leading to a decline in sales and a significant drop in gross profit[10] - The company is facing intensified competition in the consumer electronics market, leading to a decline in revenue and net profit due to price reductions on certain products[14] - The company is actively seeking market expansion and high-quality development despite the challenges in the industry[14] Product Development - The company has successfully introduced its Beidou short message SoC chip to major domestic smartphone manufacturers[14] - The company has achieved mass production of its three-phase gate driver chip, securing bulk orders in the East China market[14] Accounting Standards - The company has not adopted new accounting standards or interpretations that would affect the financial statements for the year of first execution[25]

Financial Performance - The company's operating revenue for the third quarter reached ¥13.55 billion, a 101.09% increase compared to the same period last year[5] - The total profit for the third quarter was ¥548.45 million, reflecting a significant increase of 1,265.04% year-on-year[5] - The net profit attributable to shareholders was a loss of ¥69.61 million, a decrease of 199.39% compared to the previous year[5] - The company experienced a 63.61% increase in operating revenue for the year-to-date period compared to the previous year[9] - The company reported a significant decline in net profit attributable to shareholders for the year-to-date period, down 92.34% year-on-year[10] - Total operating revenue for the first three quarters of 2025 reached ¥51.75 billion, a significant increase from ¥31.63 billion in the same period of 2024, representing a growth of approximately 63.7%[29] - Total operating costs for the first three quarters of 2025 were ¥48.49 billion, compared to ¥29.21 billion in 2024, indicating an increase of about 66.1%[29] - The net profit for the first three quarters of 2025 showed a substantial increase, with investment income recorded at ¥40.62 million, down from ¥267.66 million in 2024[29] - The net profit for the current period is CNY 1,096,770,250.25, a decrease of 38.1% compared to CNY 1,773,951,479.51 in the previous period[30] - The total profit for the current period is CNY 1,811,331,002.59, down 30.8% from CNY 2,621,245,539.17 in the previous period[30] - The operating profit for the current period is CNY 1,785,568,414.29, a decline of 31.4% from CNY 2,600,859,282.01 in the previous period[30] - The basic and diluted earnings per share for the current period are both CNY 0.04, down from CNY 0.49 in the previous period[31] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was ¥17.42 billion, an increase of 372.76% compared to the same period last year[10] - Cash flow from operating activities for the current period is CNY 17,415,946,807.16, significantly up from CNY 3,683,868,706.55 in the previous period[33] - The company reported a significant increase in cash received from operating activities, totaling CNY 41,853,873,313.10, compared to CNY 37,219,471,058.17 in the previous period[33] - Total cash inflow from operating activities was ¥9,108,362,272.16, compared to ¥5,680,569,179.80 in 2024, marking an increase of approximately 60.5%[42] - Cash outflow from operating activities decreased to ¥8,426,450,488.02 from ¥10,314,530,741.98, a reduction of about 18.3%[42] - The ending cash and cash equivalents balance is CNY 34,277,724,727.21, an increase from CNY 29,046,383,272.64 in the previous period[34] - Cash and cash equivalents as of September 30, 2025, amounted to ¥34.69 billion, up from ¥33.22 billion at the end of 2024, reflecting a growth of approximately 4.4%[25] - The ending cash and cash equivalents balance rose to ¥7,595,955,468.36, compared to ¥2,307,621,540.73 at the end of 2024[43] Assets and Liabilities - The total assets at the end of the reporting period were ¥401.28 billion, a decrease of 4.54% from the end of the previous year[6] - The company's total assets decreased to ¥401.28 billion as of September 30, 2025, from ¥420.38 billion at the end of 2024, a decline of about 4.5%[27] - Current liabilities totaled ¥157.69 billion as of September 30, 2025, down from ¥175.07 billion at the end of 2024, indicating a reduction of approximately 9.9%[27] - Total liabilities as of September 30, 2025, were ¥158.02 billion, compared to ¥152.19 billion at the end of 2024, indicating an increase of 3.8%[38] - The company's total equity as of September 30, 2025, was ¥121.51 billion, down from ¥125.01 billion at the end of 2024, reflecting a decrease of about 2.8%[27] Shareholder Information - The total number of common shareholders at the end of the reporting period is 50,566[12] - The largest shareholder, Zhuhai Huafa Group Co., Ltd., holds 724,967,983 shares, accounting for 26.34% of the total shares[12] - The top ten shareholders hold a total of 1,000,000,000 shares, representing a significant portion of the company's equity[13] - The company has no shareholders participating in margin trading or securities lending activities[13] Corporate Actions - The company has completed a share repurchase plan, buying back 58,741,300 shares, which is 2.13% of the total share capital, at an average price of 5.28 RMB per share[15] - The company issued 48 million convertible bonds with a total fundraising amount of 4.8 billion RMB, netting 4.72 billion RMB after expenses[17] - The company received 30.8 billion RMB as the first payment for the acquisition of seven commercial land parcels in Shenzhen[20] - The company plans to enhance its valuation through a specific plan approved in August 2025[21] - The company has received approval from the China Securities Regulatory Commission for the issuance of convertible bonds[16] - The company is actively involved in the recovery of commercial land through government acquisition strategies[20] Inventory and Financial Expenses - The company's inventory as of September 30, 2025, was ¥225.85 billion, a decrease from ¥247.95 billion at the end of 2024, representing a decline of approximately 8.9%[25] - Financial expenses for the first three quarters of 2025 were approximately ¥912.05 million, a decrease from ¥1.73 billion in the same period of 2024[40] Investment Activities - Cash flow from investing activities shows a net outflow of CNY 10,771,251,329.40, compared to a net outflow of CNY 19,673,436,435.57 in the previous period[34] - Investment activities generated a net cash inflow of ¥482,244,782.29, compared to a net outflow of ¥1,462,178,007.94 in the previous year[43] - Total cash inflow from investment activities was ¥2,517,975,528.62, down from ¥4,801,954,418.56 in the previous year[43] - Cash received from investment income was ¥141,590,419.21, a decrease from ¥965,567,851.60 in 2024[43] Accounting Standards - The company did not apply new accounting standards for the year 2025[44]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥127,295,643.96, representing a year-on-year increase of 121.42%[3] - The total profit for the period was ¥22,142,975.57, with a year-to-date total profit of ¥59,141,391.90, reflecting a significant increase of 292.35%[3] - The net profit attributable to shareholders for Q3 2025 was ¥20,519,575.61, marking a year-on-year increase of 12,060.77%[3] - The net profit after deducting non-recurring gains and losses for the year-to-date was ¥54,222,864.45, showing a substantial increase of 3,473.22%[3] - The company's revenue for the first three quarters of 2025 reached ¥334,401,994.67, a significant increase of 82.2% compared to ¥183,476,211.16 in the same period of 2024[22] - Operating profit for the first three quarters of 2025 was ¥59,063,475.15, up from ¥14,413,484.77 in 2024, reflecting a growth of 309.5%[22] - Net profit for the first three quarters of 2025 was ¥56,555,360.90, compared to ¥16,015,666.93 in 2024, representing an increase of 253.5%[22] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.85, compared to ¥0.24 in 2024, indicating a growth of 254.2%[22] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥1,714,015,194.08, an increase of 12.05% compared to the end of the previous year[5] - The total assets of the company amounted to ¥1,714,015,194.08, an increase from ¥1,529,643,032.33 in the previous period[20] - Total liabilities increased to ¥217,265,250.38 from ¥77,221,068.10, indicating a growth of 181.5%[20] - The company's non-current assets totaled ¥340,591,464.22, down from ¥535,157,296.07, showing a decrease of 36.4%[20] Cash Flow - The net cash flow from operating activities for the year-to-date was negative at -¥7,017,378.69, indicating a decline compared to the previous year[3] - In the first three quarters of 2025, the cash inflow from operating activities was CNY 260,217,723.68, an increase of 25.4% compared to CNY 207,437,239.30 in the same period of 2024[25] - The net cash flow from operating activities was negative CNY 7,017,378.69, worsening from negative CNY 954,894.32 year-over-year[25] - Cash inflow from investment activities totaled CNY 1,098,501,928.78, a decrease of 4.4% from CNY 1,149,126,287.62 in the previous year[25] - The net cash flow from investment activities was negative CNY 218,583,616.24, contrasting with a positive CNY 266,823,118.55 in the same period of 2024[25] - Cash inflow from financing activities was CNY 40,871,318.46, significantly higher than CNY 17,802,859.85 in the previous year[27] - The net cash flow from financing activities improved to CNY 33,784,322.38, compared to a negative CNY 89,887,446.17 in the same period of 2024[27] - The total cash and cash equivalents at the end of the period decreased to CNY 137,451,361.93 from CNY 395,841,237.24 year-over-year[27] - The company reported a cash outflow of CNY 191,815,227.26 in the first three quarters of 2025, compared to an inflow of CNY 175,976,697.30 in the same period of 2024[27] Research and Development - Research and development expenses totaled ¥12,682,311.42 for the quarter, accounting for 9.96% of operating revenue, a decrease of 9.66 percentage points[5] - Research and development expenses for the first three quarters of 2025 were ¥37,200,129.33, compared to ¥33,208,680.42 in 2024, reflecting an increase of 8.9%[22] Shareholder Information - The company plans to distribute a cash dividend of RMB 2.00 per 10 shares to all shareholders, based on the total share capital after accounting for shares held in the repurchase account[15] - The company has approved the implementation of the 2025 Employee Stock Ownership Plan, aiming to enhance employee engagement and retention[16] - The top shareholder, Dong Ning, holds 32.92% of the shares, while the second and third largest shareholders, Ye Jiasheng and Tang Shiyue, each hold 8.51%[14] - The company reported a total of 1,435,094 shares held in the repurchase account as of September 30, 2025[14] - The company has not engaged in any capital reserve transfers to increase share capital or issued bonus shares for the current period[16] Inventory and Current Assets - As of September 30, 2025, the company's total current assets amounted to RMB 1,373,423,729.86, an increase from RMB 994,485,736.26 as of December 31, 2024, reflecting a growth of approximately 38.2%[18] - The company’s inventory decreased slightly to RMB 120,540,008.89 from RMB 133,931,654.73, a decline of about 10.0%[18] - The company's cash and cash equivalents decreased to RMB 139,532,197.27 from RMB 331,693,179.94, indicating a decline of about 58.1%[18] - Accounts receivable increased significantly to RMB 244,463,003.34 from RMB 127,229,930.05, representing an increase of approximately 92.2%[18] - The company’s non-current assets include debt investments totaling RMB 114,003,871.12, down from RMB 428,767,879.46, indicating a significant reduction[18] Revenue Growth Factors - The company attributed revenue growth to the rapid development of the AI industry and increased demand in the battery and energy storage systems sectors[9]

Financial Performance - The company's operating revenue for the third quarter was approximately ¥1.76 billion, a decrease of 1.18% compared to the same period last year[6]. - Total profit for the third quarter was approximately ¥247.18 million, down 38.53% year-on-year[6]. - Net profit attributable to shareholders was approximately ¥192.91 million, reflecting a decline of 45.39% compared to the previous year[6]. - The basic earnings per share for the third quarter was ¥0.0841, a decrease of 50.90% year-on-year[6]. - Net profit for the first three quarters of 2025 was CNY 767,877,034.75, a decline of 22.9% from CNY 996,342,292.12 in 2024[21]. - Basic and diluted earnings per share for the first three quarters of 2025 were CNY 0.3278, down from CNY 0.4756 in the same period of 2024[22]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥30.31 billion, a decrease of 1.40% from the end of the previous year[6]. - Total current assets as of September 30, 2025, amount to ¥20,810,040,619.56, a decrease from ¥21,031,093,811.59 as of December 31, 2024[17]. - The total liabilities as of September 30, 2025, were CNY 14,700,209,256.87, compared to CNY 15,382,251,584.31 as of December 31, 2024[19]. - The company's total current liabilities as of September 30, 2025, were CNY 11,651,185,364.49, compared to CNY 12,207,444,405.53 at the end of 2024[19]. Cash Flow - The net cash flow from operating activities for the year-to-date was approximately -¥1.09 billion, indicating a negative cash flow situation[6]. - In the first three quarters of 2025, the cash inflow from operating activities was CNY 6,773,333,929.87, a decrease of 8.8% compared to CNY 7,431,073,272.96 in the same period of 2024[24]. - The net cash outflow from operating activities was CNY -1,087,537,950.38, improving from CNY -1,384,730,137.52 in the first three quarters of 2024[25]. - The cash inflow from investment activities was CNY 193,415,156.64, down 74.2% from CNY 750,457,656.70 in the same period of 2024[25]. - The total cash and cash equivalents at the end of the period was CNY 6,079,680,222.20, slightly down from CNY 6,141,503,051.30 at the end of the same period in 2024[25]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 65,059[13]. - The largest shareholder, China Communications Construction Company, holds 1,110,869,947 shares, representing 48.41% of total shares[13]. - The equity attributable to shareholders increased by 1.57% to approximately ¥15.26 billion compared to the end of the previous year[6]. - The total equity attributable to shareholders of the parent company was CNY 15,260,061,621.67 as of September 30, 2025, an increase from CNY 15,024,654,959.11 at the end of 2024[19]. Operational Insights - The company experienced a significant decline in profitability due to a slowdown in revenue from certain projects while costs continued to rise[11]. - There are no significant reminders for investors regarding the company's operational situation during the reporting period[15]. - The company has no significant changes in the participation of major shareholders in margin trading and securities lending[14].

Financial Performance - The company's operating revenue for the third quarter was ¥141,400,118.57, a decrease of 74.78% compared to the same period last year[5] - The total profit for the third quarter was a loss of ¥163,395,492.54, with a year-to-date total profit loss of ¥538,793,325.53[5] - The net profit attributable to shareholders for the third quarter was a loss of ¥109,945,536.85, with a year-to-date net profit loss of ¥373,760,414.88[5] - The basic and diluted earnings per share for the third quarter were both -¥0.23, with a year-to-date figure of -¥0.74[6] - Total operating revenue for the first three quarters of 2025 was CNY 554.81 million, a decrease of 50.8% compared to CNY 1,126.27 million in the same period of 2024[22] - Net profit for the first three quarters of 2025 was a loss of CNY 502.89 million, an improvement from a loss of CNY 1,148.50 million in the same period of 2024[23] - Total comprehensive income for the first three quarters of 2025 was a loss of CNY 505.50 million, compared to a loss of CNY 1,176.75 million in 2024[23] - The net profit for the first three quarters of 2025 was a loss of ¥87,979,616.62, compared to a net profit of ¥71,851,113.71 in the same period of 2024, indicating a decline in profitability[33] Assets and Liabilities - The total assets at the end of the reporting period were ¥60,371,533,224.34, reflecting a slight increase of 0.17% from the previous year-end[6] - The company's current assets decreased to RMB 48.91 billion from RMB 54.54 billion year-over-year, primarily due to a reduction in cash and cash equivalents[17] - The company's total liabilities increased to RMB 55.02 billion from RMB 52.92 billion, representing a growth of approximately 4.2%[19] - Total assets decreased to $14,834,844,150.52 from $15,374,041,291.39 year-over-year[31] - Total liabilities increased to $9,126,918,530.99 from $8,113,515,185.09, indicating a rise in financial obligations[31] Shareholder Equity - The equity attributable to shareholders decreased by 28.64% to ¥4,580,694,798.87 compared to the previous year-end[6] - The equity attributable to shareholders decreased to RMB 4.58 billion from RMB 6.42 billion, a decline of about 28.3%[19] - Shareholders' equity decreased to $5,707,925,619.53 from $7,260,526,106.30, reflecting a decline in the company's net worth[31] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥259,093,511.76[5] - The net cash flow from operating activities for the first three quarters of 2025 was CNY 259.09 million, a significant recovery from a negative cash flow of CNY 7,666.26 million in 2024[26] - The net cash flow from investment activities was $6,528,293.06, a significant improvement from a negative cash flow of $216,762,779.74 in the previous period[27] - The net cash flow from financing activities was negative at -$1,547,484,109.06, worsening from -$353,419,345.70 in the previous period[27] Operational Insights - The decline in operating revenue was primarily due to a decrease in the scale of real estate project deliveries[11] - The company plans to release its Q3 2025 operational data on October 16, 2025, which will provide further insights into its performance[16] - The company reported a decrease in sales revenue from CNY 3,144.73 million in 2024 to CNY 1,994.08 million in 2025, reflecting a decline of 36.5%[26] Other Financial Metrics - Non-recurring gains and losses for the year-to-date period totaled ¥5,475,597.00, with significant contributions from government subsidies and investment income[10] - The company incurred financial expenses of CNY 283.43 million in 2025, an increase of 32.5% from CNY 214.05 million in 2024[22] - The company reported a decrease in tax expenses from CNY 180.99 million in 2024 to a tax benefit of CNY 35.90 million in 2025[23] - The company incurred financial expenses of ¥27,980,595.32 in the first three quarters of 2025, compared to a financial income of ¥59,297,142.29 in the same period of 2024, indicating a significant shift in financial performance[33]