Financial Performance - The company's operating revenue for the third quarter was CNY 1,012,852,815.70, a decrease of 17.38% compared to the same period last year[4] - The total profit for the quarter was a loss of CNY 101,785,755.29, representing a decline of 178.71% year-on-year[4] - The net profit attributable to shareholders was a loss of CNY 115,001,411.03, down 338.28% from the previous year[4] - Total operating revenue for the first three quarters of 2025 was CNY 3,422,671,994.62, a decrease of 11.83% compared to CNY 3,882,707,575.23 in the same period of 2024[19] - Net profit for the first three quarters of 2025 was a loss of CNY 100,759,470.15, compared to a profit of CNY 59,469,123.27 in 2024[20] - Basic and diluted earnings per share for the first three quarters of 2025 were both CNY -0.08, compared to CNY 0.05 in 2024[20] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 435,720,963.76, an increase of 129.24% compared to the same period last year[4] - Operating cash flow for the first three quarters of 2025 was CNY 435,720,963.76, an increase of 129.00% from CNY 190,072,599.09 in 2024[22] - Net cash flow from financing activities was $103,517,525.52, compared to a net outflow of $52,385,816.62 in the previous period, indicating a significant improvement[23] - Cash and cash equivalents increased by $476,729,266.21, up from $77,743,759.92 in the prior period, reflecting strong liquidity[23] - Total cash and cash equivalents at the end of the period reached $2,868,985,402.41, compared to $1,999,198,756.39 at the end of the previous period[23] - Cash inflow from borrowing amounted to $3,590,300,000.00, an increase from $3,145,000,000.00 in the prior period, showing enhanced financing capabilities[23] - Cash outflow for debt repayment was $3,360,250,000.00, compared to $3,102,530,000.00 previously, indicating ongoing debt management efforts[23] - The net cash flow from investing activities was -$62,509,223.07, slightly worse than -$59,943,022.55 in the previous period, suggesting continued investment activities[23] - Total cash outflow from financing activities was $3,486,782,474.48, compared to $3,197,885,816.62 in the prior period, reflecting increased financial commitments[23] Assets and Liabilities - The total assets at the end of the reporting period were CNY 12,949,699,291.58, a decrease of 4.59% from the end of the previous year[4] - The company's current assets totaled RMB 4,374,916,081.40, down from RMB 4,567,887,249.25, indicating a decrease of about 4.2%[14] - The company's total liabilities were RMB 5,372,421,995.73, down from RMB 6,732,646,773.81, showing a reduction of approximately 20.2%[15] - The company's total liabilities amounted to CNY 7,412,457,634.53, a decrease from CNY 8,078,447,632.58 in the previous year[16] - The company's non-current assets totaled RMB 8,574,783,210.18, down from RMB 9,004,439,412.67, reflecting a decline of approximately 4.7%[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 44,036[10] - The largest shareholder, Liaoning Energy Industry Holding Group Co., Ltd., held 318,000,000 shares, accounting for 24.05% of the total shares[10] Other Financial Metrics - The basic earnings per share for the quarter was -CNY 0.09, a decrease of 325.00% year-on-year[4] - The weighted average return on equity was -2.06%, a decrease of 2.96 percentage points compared to the previous year[4] - The company reported non-recurring losses totaling CNY 13,233,591.48 for the quarter[7] - The company reported a significant increase in other income, totaling CNY 18,070,718.01, compared to CNY 27,145,211.69 in the previous year[19] - The financial expenses for the first three quarters of 2025 were CNY 84,390,982.55, down from CNY 95,854,843.42 in 2024[19] - The company’s tax expenses for the first three quarters of 2025 were CNY 69,941,413.98, compared to CNY 140,781,306.78 in 2024[20] Product Development - The company has no significant new product launches or technological developments reported during this period[12] Accounting Standards - The company did not apply new accounting standards starting from 2025, maintaining consistency in financial reporting[24]

Financial Performance - The company's operating revenue for the third quarter was CNY 1,540,585,302.45, representing an increase of 11.02% compared to the same period last year[4]. - The total profit for the year-to-date period was a loss of CNY 206,580,448.28, a decrease of 355.90% year-on-year[4]. - The net profit attributable to shareholders for the year-to-date period was a loss of CNY 163,251,592.00, reflecting a decrease of 421.90% compared to the previous year[4]. - The basic earnings per share for the third quarter was CNY -0.04, and for the year-to-date period, it was CNY -0.32, a decrease of 420.00%[5]. - The company reported a net loss of approximately -¥326.39 million, compared to a loss of -¥163.13 million in the previous year, primarily due to decreased product prices in the lithium segment[10]. - The company reported a net loss of CNY 175,661,004.96 for the first three quarters of 2025, compared to a net profit of CNY 61,602,177.32 in the same period of 2024[21]. - Basic and diluted earnings per share were both CNY -0.32, down from CNY 0.10 in the previous period[22]. Cash Flow - The net cash flow from operating activities for the year-to-date period was a negative CNY 454,059,601.33, a decrease of 637.01% year-on-year[5]. - The net cash flow from operating activities decreased by 637.01% to approximately -¥454.06 million, attributed to increased procurement payments and reduced cash receipts from sales[11]. - Operating cash flow for the first three quarters of 2025 was CNY -454,059,601.33, a significant decline from CNY 84,553,127.51 in the same period of 2024[24]. - Total cash inflow from operating activities decreased to CNY 4,338,286,562.98, down from CNY 4,951,459,283.18 year-over-year[24]. - Cash outflow from operating activities was CNY 4,792,346,164.31, compared to CNY 4,866,906,155.67 in the previous year[24]. - The company generated a net cash flow from investing activities of CNY 70,128,515.05, a recovery from a net outflow of CNY -425,109,344.47 in the previous year[25]. - The company received CNY 1,264,000,000.00 from investment recoveries, an increase from CNY 895,447,500.00 in the previous year[24]. - Cash inflow from financing activities was CNY 496,743,264.00, compared to CNY 302,892,917.66 in the previous year[25]. - The company experienced a net decrease in cash and cash equivalents of CNY -266,156,595.67, compared to a decrease of CNY -581,311,124.14 in the previous year[25]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,563,317,345.02, an increase of 2.77% from the previous year[5]. - The company's cash and cash equivalents decreased by 43.10% to CNY 349,868,874.49 due to raw material purchases in the lithium segment[9]. - Accounts receivable increased by 35.50% to approximately ¥375.48 million due to increased sales following the full production of the lithium segment's second phase[10]. - Prepayments surged by 311.47% to approximately ¥345.59 million, primarily due to increased advance payments for raw material purchases during the reporting period[10]. - Fixed assets rose by 75.08% to approximately ¥1.44 billion, mainly due to the capitalization of the 45,000-ton lithium salt project second phase[10]. - The company's total liabilities increased, with accounts payable rising by 323.58% to approximately ¥123.66 million due to increased bill processing during the reporting period[10]. - The company's deferred tax assets increased by 32.93% to approximately ¥116.77 million, primarily due to deductible losses from the current period[10]. - The company's total liabilities increased to CNY 1,846,469,615.83 as of September 30, 2025, up from CNY 1,624,536,999.62 at the end of 2024, reflecting a growth of 14%[19]. - The company's retained earnings showed a deficit of CNY 326,386,174.32 as of September 30, 2025, worsening from a deficit of CNY 163,134,582.32 at the end of 2024[19]. Market Conditions - The company reported a significant increase in asset impairment losses due to price declines in the lithium sector, impacting overall profitability[9]. - The weighted average return on net assets for the year-to-date period decreased by 12.42 percentage points, reflecting the adverse effects of market conditions[5]. - The company experienced a significant decrease in other income, down 82.17% to approximately ¥16.74 million, mainly due to reduced VAT deductions and government subsidies[11]. - Total revenue for the first three quarters of 2025 was CNY 3,932,149,458.84, a decrease of 17% compared to CNY 4,738,679,746.01 in the same period of 2024[20]. - Total operating costs for the first three quarters of 2025 amounted to CNY 3,995,204,959.59, down from CNY 4,693,603,694.46 in 2024, reflecting a reduction of approximately 15%[20]. - The company's research and development expenses for the first three quarters of 2025 were CNY 38,823,131.93, slightly higher than CNY 36,546,463.29 in the same period of 2024[21].

Financial Performance - The company's operating revenue for Q3 2025 was CNY 401,063,486.61, a decrease of 19.15% compared to the same period last year[4] - The total profit for the period was a loss of CNY 45,506,208.23, representing a decline of 17.43% year-on-year[4] - The net profit attributable to shareholders was a loss of CNY 46,392,774.67, down 21.26% from the previous year[4] - The basic earnings per share for the period was -CNY 0.1050, a decrease of 21.26% compared to the same period last year[4] - The total comprehensive income attributable to the parent company was -167,405,262.97 yuan, compared to -130,277,202.74 yuan in the same period last year, reflecting a decline of approximately 28.5%[20] - Basic and diluted earnings per share were both -0.3589 yuan, compared to -0.2699 yuan in the previous year, indicating a worsening in earnings performance[20] Revenue and Costs - The company experienced a 11.46% decline in revenue year-to-date, with a total revenue of CNY 1,094,829,376.02[4] - Total operating revenue for the first three quarters of 2025 was CNY 1,094,829,376.02, a decrease of 11.5% compared to CNY 1,236,512,502.98 in the same period of 2024[19] - Total operating costs for the first three quarters of 2025 were CNY 1,258,367,570.68, down 7.6% from CNY 1,361,818,707.16 in the previous year[19] - The company reported a decrease in sales revenue from goods and services received, totaling 873,676,260.04 yuan, down from 1,056,166,779.28 yuan year-over-year, a decline of approximately 17.3%[22] Cash Flow - The net cash flow from operating activities was -CNY 19,969,233.74, indicating a significant cash outflow[4] - The net cash flow from operating activities was -105,845,106.55 yuan, a significant decrease from 13,815,834.60 yuan in the previous year[23] - Cash inflow from operating activities totaled 1,061,673,054.78 yuan, down from 1,280,310,085.73 yuan year-over-year, indicating a decline of about 17.1%[23] - Cash outflow from operating activities was 1,167,518,161.33 yuan, compared to 1,266,494,251.13 yuan in the previous year, showing a decrease of approximately 7.8%[23] - The net cash flow from investing activities was -20,469,772.05 yuan, slightly worse than -20,227,419.94 yuan in the same period last year[24] - Cash inflow from financing activities was 1,441,299,111.94 yuan, down from 1,606,224,053.23 yuan year-over-year, representing a decline of about 10.3%[24] - The net cash flow from financing activities increased to 165,131,839.79 yuan, compared to 94,094,015.90 yuan in the previous year, marking an increase of approximately 75.5%[24] - The ending cash and cash equivalents balance was 287,660,467.80 yuan, up from 224,445,340.13 yuan in the same period last year, reflecting an increase of about 28.2%[24] Assets and Liabilities - Total assets at the end of the period were CNY 4,653,552,264.13, a slight decrease of 0.13% from the end of the previous year[5] - The company's total assets as of September 30, 2025, were CNY 4,653,552,264.13, slightly down from CNY 4,659,509,015.78 at the end of 2024[16] - Current liabilities increased to CNY 3,026,336,224.81 as of September 30, 2025, compared to CNY 2,819,561,010.84 at the end of 2024, reflecting a rise of 7.3%[17] - The company's total liabilities reached CNY 3,619,263,012.97, up from CNY 3,451,007,008.28 at the end of 2024, indicating an increase of 4.9%[17] - The equity attributable to shareholders decreased by 14.19% to CNY 1,014,048,516.21 compared to the end of the previous year[5] - The company’s equity attributable to shareholders decreased to CNY 1,014,048,516.21 as of September 30, 2025, down from CNY 1,181,707,422.65 at the end of 2024[17] Research and Development - The company reported a decrease in research and development expenses to CNY 56,989,269.33 in the first three quarters of 2025, down from CNY 60,753,888.51 in the same period of 2024[19] Inventory - The company’s inventory as of September 30, 2025, was CNY 1,083,366,644.04, an increase from CNY 1,040,851,143.17 at the end of 2024[16] Accounts Receivable - The company reported a decrease in accounts receivable financing by 66.61% due to a reduction in high-credit bank acceptance bills received[9]

Revenue and Profit - Revenue for the third quarter was CNY 918,587,745.80, a decrease of 2.94% compared to the same period last year[4] - Total profit for the quarter was CNY 170,724,808.74, down 45.23% year-on-year[4] - Net profit attributable to shareholders was CNY 121,868,297.69, a decline of 52.99% compared to the previous year[4] - Basic earnings per share decreased by 53.85% to CNY 0.06 for the quarter[5] - Operating profit for the first three quarters of 2025 was ¥694,153,182.99, compared to ¥885,317,080.75 in 2024, indicating a decrease of about 21.6%[20] - Net profit for the first three quarters of 2025 was ¥593,094,705.19, down from ¥792,721,576.08 in 2024, reflecting a decline of approximately 25.1%[20] - Basic earnings per share for the first three quarters of 2025 were ¥0.29, down from ¥0.38 in 2024, a decrease of approximately 23.7%[21] - For the first three quarters of 2025, the company reported a net profit of ¥187,066,411.20, compared to ¥294,696,034.22 in the same period of 2024, indicating a decrease of approximately 36.4%[32] Cash Flow - The company reported a net cash flow from operating activities of CNY 1,974,824,876.22, an increase of 41.14% year-to-date[4] - The net cash inflow from operating activities was CNY 1,974,824,876.22, an increase from CNY 1,399,204,358.71 year-over-year[25] - Cash generated from operating activities increased significantly to ¥5,197,834,835.60 in 2025, compared to ¥3,321,702,131.30 in 2024, marking an increase of approximately 56.5%[24] - The net cash flow from operating activities for the first three quarters of 2025 was -¥11,701,242.29, compared to -¥7,605,341.01 in 2024, indicating a worsening cash flow situation[35] - The net cash outflow from investment activities was CNY -1,937,161,537.81, worsening from CNY -975,212,967.68 year-over-year[25] - The net cash flow from financing activities for the first three quarters of 2025 was ¥732,538,457.12, compared to ¥519,380,363.07 in 2024, indicating an increase of approximately 40.9%[35] Assets and Liabilities - Total assets increased by 1.34% to CNY 40,608,619,010.02 compared to the end of the previous year[5] - Total current assets as of September 30, 2025, amount to ¥9,332,586,613.21, a decrease from ¥10,256,220,772.92 at the end of 2024[15] - Total non-current assets increased to ¥31,276,032,396.81 from ¥29,814,230,469.87 year-over-year[16] - The company's total liabilities decreased to ¥29,030,235,421.53 in 2025 from ¥30,080,889,108.42 in 2024, a reduction of about 3.5%[20] - Total liabilities were CNY 2,537,220,676.15, compared to CNY 1,568,342,530.99 in the previous period[29] - The total equity was CNY 8,290,775,211.12, slightly decreasing from CNY 8,300,441,295.22[29] Shareholder Information - Total number of common shareholders at the end of the reporting period is 62,831[12] - The largest shareholder, Tianjin Jinkai Enterprise Management Co., Ltd., holds 251,902,157 shares, accounting for 12.61% of total shares[13] - The company has no pledged or frozen shares among the top ten shareholders[13] Research and Development - The company’s research and development expenses decreased by 37.33% due to the phased progress of R&D projects[10] - Research and development expenses for the first three quarters of 2025 were ¥8,138,010.62, down from ¥12,986,219.03 in 2024, indicating a decrease of approximately 37.1%[20] Investment Performance - The company reported an investment loss of ¥49,305,966.89 in 2025, compared to a profit of ¥80,908,691.15 in 2024, reflecting a significant negative shift[20] - Investment income for the first three quarters of 2025 was reported at ¥200,000,000.00, down from ¥300,000,000.00 in 2024, showing a decrease of 33.3%[32] Management and Operational Changes - The management has changed the fund manager for Tianjin Jincheng No. 2 Equity Investment Fund Partnership[14] - The company incurred management expenses of ¥11,583,359.18 in the first three quarters of 2025, significantly higher than ¥5,413,276.45 in 2024, representing an increase of approximately 114.8%[32] - Financial expenses for the first three quarters of 2025 were ¥1,349,024.16, compared to a gain of ¥47,190.43 in 2024, indicating a substantial shift in financial performance[32]

深圳市景旺电子股份有限公司 2025 年第三季度报告 证券代码：603228 证券简称：景旺电子 深圳市景旺电子股份有限公司 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： 公司董事会及董事、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。 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 | 3,987,408,668.33 | 24.19 | 11,0 ...

Financial Performance - The company's operating revenue for the third quarter was ¥158,545,462.11, a decrease of 31.67% compared to the same period last year[3]. - The total profit for the quarter was a loss of ¥51,659,868.08, with a net profit attributable to shareholders of ¥-38,529,860.65, reflecting a significant decline of 1,247.70% year-on-year[3]. - Basic earnings per share for the quarter were ¥-0.48, a decrease of 1,300.00% compared to the same period last year[3]. - Diluted earnings per share for the quarter were ¥-0.46, also reflecting a significant decline of 1,250.00% year-on-year[4]. - The net profit attributable to shareholders of the listed company was CNY -96.97 million, indicating significant operational pressure[13]. - The net profit for the first three quarters of 2025 was a loss of CNY 97.44 million, compared to a loss of CNY 9.84 million in 2024, indicating a significant decline in profitability[22]. - The net profit attributable to the parent company was a loss of ¥96,973,668.38, compared to a loss of ¥9,378,781.57 in the previous year[23]. - The total comprehensive income amounted to -¥65,776,717.71, down from -¥11,336,963.89 year-over-year[23]. - Basic earnings per share were -¥1.20, compared to -¥0.12 in the same period last year[23]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date was ¥-71,262,104.80, indicating ongoing cash flow challenges[3]. - Cash inflows from operating activities totaled ¥506,200,548.72, an increase from ¥444,528,758.18 year-over-year[26]. - Cash outflows from operating activities were ¥577,462,653.52, slightly down from ¥590,387,618.73 in the previous year[26]. - The net cash flow from operating activities was -¥71,262,104.80, improving from -¥145,858,860.55 year-over-year[26]. - Cash inflows from investment activities were ¥1,190,315,849.41, compared to ¥1,069,485,081.06 in the previous year[27]. - The net cash flow from investment activities was -¥164,622,260.48, worsening from -¥91,057,572.06 year-over-year[27]. - Cash inflows from financing activities were ¥14,523,677.44, up from ¥11,184,749.00 in the previous year[27]. - The ending cash and cash equivalents balance was ¥546,659,220.26, down from ¥800,362,258.52 year-over-year[27]. - The total assets increased by 5.37% to ¥2,401,515,563.90 compared to the end of the previous year[4]. - The total current assets as of September 30, 2025, were CNY 1.85 billion, a slight increase from CNY 1.83 billion at the end of 2024[17]. - The total liabilities as of September 30, 2025, amounted to CNY 538.91 million, compared to CNY 381.13 million at the end of 2024, reflecting a 41.5% increase[19]. - The total assets as of September 30, 2025, were CNY 2.40 billion, up from CNY 2.28 billion at the end of 2024[18]. - The company's cash and cash equivalents decreased to CNY 561.21 million from CNY 776.06 million at the end of 2024, a decline of 27.7%[17]. - The company's inventory increased to CNY 324.75 million as of September 30, 2025, compared to CNY 263.20 million at the end of 2024, representing a growth of 23.4%[17]. - The company reported a significant increase in accounts receivable, which rose to CNY 530.55 million from CNY 425.80 million, an increase of 24.6%[17]. Research and Development - Research and development expenses amounted to ¥42,196,716.93, representing 26.61% of operating revenue, an increase of 12.02 percentage points compared to the previous year[4]. - Research and development expenses for the first three quarters of 2025 were CNY 104.24 million, slightly up from CNY 101.20 million in 2024[22]. - The company is committed to maintaining high levels of investment in technological innovation and market development despite the increased operational costs[13]. Market Dynamics and Strategy - The company is in a transitional phase with new and old business dynamics, facing challenges in traditional consumer electronics markets due to insufficient product innovation demand from international major clients[13]. - The company has made breakthroughs in emerging markets such as AI servers and hydrogen energy, but the demand for smart devices in these markets is still in the early stages of ramp-up[13]. - The ADA intelligent platform equipment has begun to achieve bulk shipments in the supply chains of international clients in consumer electronics, AI servers, and automotive sectors[13]. - The company is focusing on market expansion by adhering to a major client strategy and exploring new application scenarios in AI servers, hydrogen energy, automotive electronics, and semiconductors[14]. - To enhance its ability to respond to international trade risks, the company is deepening its overseas market presence and upgrading local operational capabilities[14]. - The company is implementing a Management By Plan (MBP) approach to improve operational efficiency and optimize business structure[14]. - Increased depreciation expenses and asset impairment losses have negatively impacted net profit due to the transition of certain projects to fixed assets[13]. - The company reported an increase in sales and management expenses due to rising employee compensation and travel costs, contributing to the overall loss[9]. - The company experienced a decrease in bank deposit interest income due to lower market interest rates, impacting overall profitability[9].

Financial Performance - The company's operating revenue for Q3 2025 was ¥158,585,567.74, a decrease of 21.08% compared to the same period last year[3] - The total profit for the period was ¥4,574,571.54, down 61.56% year-on-year, primarily due to project delivery delays affecting revenue[9] - The net profit attributable to shareholders was ¥409,014.61, reflecting a significant decline of 95.39% compared to the previous year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥7,091,642.19, a decrease of 10,103.29% year-on-year[9] - Total operating revenue for the first three quarters of 2025 was CNY 508,742,302.24, a decrease of 11.8% compared to CNY 576,706,151.77 in the same period of 2024[23] - The net profit for the first three quarters of 2025 was a loss of CNY 46,456,699.94, compared to a profit of CNY 16,679,116.19 in the same period of 2024[24] - The total comprehensive income for the period was -47,382,707.13 RMB, compared to 17,376,993.81 RMB in the previous period[25] - The company reported a basic and diluted earnings per share of -0.2450 RMB, compared to 0.0862 RMB in the previous period[25] Research and Development - Research and development expenses totaled ¥40,722,616.45, accounting for 25.68% of operating revenue, an increase of 2.96 percentage points from the previous year[4] - Research and development expenses for the first three quarters of 2025 amounted to CNY 121,132,888.93, slightly down from CNY 132,652,472.76 in 2024[24] - The company plans to continue focusing on research and development to enhance its product offerings and market position[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,840,022,852.03, a decrease of 5.57% from the end of the previous year[4] - The company's total assets as of September 30, 2025, were CNY 1,840,022,852.03, compared to CNY 1,948,633,609.09 at the end of 2024[21] - Current liabilities decreased to CNY 755,269,376.67 as of September 30, 2025, from CNY 884,353,683.03 at the end of 2024, a reduction of 14.6%[21] - The total equity attributable to shareholders decreased to CNY 872,946,898.68 as of September 30, 2025, from CNY 906,053,836.69 at the end of 2024[21] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥87,002,683.05, indicating cash flow challenges[4] - The net cash flow from operating activities was -87,002,683.05 RMB, a decline from -38,801,478.34 RMB year-over-year[28] - Cash received from the sale of goods and services was 562,244,272.00 RMB, down from 791,636,311.39 RMB in the previous year[28] - The net cash flow from investing activities was -92,046,907.97 RMB, compared to -46,481,481.02 RMB in the prior year[29] - Cash inflow from financing activities was 342,594,560.00 RMB, an increase from 281,703,873.90 RMB year-over-year[29] - The company's cash and cash equivalents were CNY 219,345,147.15 as of September 30, 2025, down from CNY 318,657,749.04 at the end of 2024[20] - The total cash and cash equivalents at the end of the period were 178,642,392.57 RMB, compared to 95,617,821.14 RMB in the previous year[29] - The company received 39,000,000.00 RMB from investments, significantly higher than 1,550,000.00 RMB in the previous year[29] - The company paid 269,598,643.70 RMB in debt repayments, slightly lower than 274,517,252.14 RMB in the prior year[29] - The company experienced a foreign exchange impact of 204,676.29 RMB on cash and cash equivalents[29] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 12,051, with no preferred shareholders[11] - The actual controller, Wu Minhua, and his action in concert, Ningbo Zhenyou, plan to transfer 9,630,000 shares (5.00% of total share capital) at a price of 22.13 RMB per share, totaling 213,111,900 RMB[16] - The company plans to issue up to 48,138,658 A-shares to specific investors, raising a total of up to 1,069 million RMB[17] Project Contracts - The company signed a purchase and sales contract for a satellite communication project with a total amount of $112,146,918 (excluding tax) on March 2, 2024[14] - The company entered into a framework agreement for the "Congo National Backbone Fiber Broadband Network Project" with a total budget of $1.5 billion (excluding tax) on April 15, 2025[15] Impairment Losses - The company reported a significant increase in asset impairment losses, contributing to the overall decline in profits[9] - The company reported an asset impairment loss of CNY 29,682,482.99 in the first three quarters of 2025, compared to a loss of CNY 15,761,190.93 in 2024[24] - The weighted average return on net assets was 0.05%, a decrease of 7.29 percentage points compared to the previous year[4]

Financial Performance - The company's operating revenue for the third quarter was ¥224,986,946.62, a decrease of 50.83% compared to the same period last year[3]. - The net profit attributable to shareholders was -¥117,165,301.92, with a year-to-date net profit of -¥179,646,146.28, indicating significant losses[3]. - The company experienced a year-to-date revenue decline of 31.86%, primarily due to reduced project acceptance[9]. - Total revenue for the first three quarters of 2025 was CNY 1,227,032,177.75, a decrease of 31.8% compared to CNY 1,800,821,114.20 in the same period of 2024[17]. - The net profit for the first three quarters of 2025 was a loss of CNY 179,646,156.73, compared to a loss of CNY 11,891,619.65 in the same period of 2024, indicating a significant increase in losses[18]. - The basic and diluted earnings per share were both -¥0.92, reflecting ongoing financial challenges[3]. - The company reported a basic and diluted earnings per share of CNY -1.41 for the first three quarters of 2025, compared to CNY -0.09 in the same period of 2024[18]. - Operating profit for the first three quarters of 2025 was a loss of CNY 116,018,049.31, compared to a profit of CNY 4,695,971.79 in the first three quarters of 2024[25]. - Net profit for the first three quarters of 2025 was a loss of CNY 125,339,222.23, compared to a profit of CNY 13,859,980.73 in the same period of 2024[25]. Cash Flow - The net cash flow from operating activities was ¥4,086,091.09, down 98.00% year-on-year, reflecting increased cash payments for goods and services[3][9]. - Cash flow from operating activities generated a net amount of CNY 60,902,686.07 in the first three quarters of 2025, down from CNY 357,726,087.67 in 2024[19]. - Cash flow from investing activities showed a net inflow of CNY 98,942,666.57 in 2025, contrasting with a net outflow of CNY 95,946,093.50 in 2024[20]. - Net cash flow from operating activities was -$422,246,227.60, compared to a positive $191,320,689.64 last year[29]. - Total cash outflow for operating activities was $2,619,865,293.76, compared to $1,649,881,765.92 in the previous period[29]. - Cash paid for purchasing goods and services was $1,754,695,087.65, an increase from $1,274,854,879.57[29]. Assets and Liabilities - Total assets increased by 12.47% to ¥6,962,848,849.26 compared to the end of the previous year[4]. - The total assets increased to CNY 6,962,848,849.26 in 2025 from CNY 6,191,104,639.26 in 2024, marking a growth of 12.5%[15]. - Total liabilities rose to CNY 3,585,478,290.44 in 2025, compared to CNY 2,646,792,472.59 in 2024, reflecting an increase of 35.4%[15]. - Total liabilities as of September 30, 2025, were CNY 2,904,264,162.92, compared to CNY 2,072,267,653.37 as of December 31, 2024[23]. - Current assets totaled CNY 4,905,770,582.74 as of September 30, 2025, up from CNY 4,160,677,379.54 as of December 31, 2024[22]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 10,458[11]. - The largest shareholder, Wuxi Weiziyuan Investment, holds 27 million shares, representing 20.52% of total shares[11]. - The company has not disclosed any changes in the top 10 shareholders due to margin trading activities[13]. - The company has not identified any related party relationships among the other shareholders listed[12]. Research and Development - Research and development expenses totaled ¥36,704,821.89, accounting for 16.31% of operating revenue, an increase of 8.56 percentage points year-on-year[4]. - Research and development expenses for the first three quarters of 2025 were CNY 100,471,481.47, a decrease from CNY 116,337,390.14 in 2024, indicating a reduction of 13.6%[17]. - The company reported a decrease in research and development expenses to CNY 96,912,660.30 in the first three quarters of 2025, down from CNY 107,112,558.06 in the same period of 2024[25]. Inventory and Receivables - The total inventory increased to approximately ¥2.18 billion, compared to ¥1.70 billion, marking a rise of 28.1%[14]. - The company reported an increase in accounts receivable to approximately ¥547.19 million from ¥499.27 million, an increase of 9.6%[14]. - The total amount of long-term receivables increased to approximately ¥42.50 million from ¥37.70 million, a growth of 12.3%[14]. - Inventory as of September 30, 2025, was CNY 1,973,076,140.84, an increase of 26.4% from CNY 1,558,780,974.66 as of December 31, 2024[22].

Financial Performance - The company's operating revenue for Q3 2025 was ¥704,190,334.20, a decrease of 27.05% compared to the same period last year[5] - The total profit for Q3 2025 was ¥1,934,884.32, reflecting a significant decline of 90.87% year-over-year[5] - The net profit attributable to shareholders for Q3 2025 was ¥1,962,901.32, down 83.03% from the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥4,845,793.72, a decrease of 156.29% compared to the same period last year[5] - Basic earnings per share for Q3 2025 were ¥0.0157, down 81.39% year-over-year[6] - Total operating revenue for the first three quarters of 2025 was CNY 1,957,273,810.08, a decrease of 34% compared to CNY 2,966,339,237.28 in the same period of 2024[21] - Net profit for the first three quarters of 2025 was CNY 48,501,452.13, a decline of 43% from CNY 85,049,888.06 in the same period of 2024[22] - The company’s total comprehensive income for the first three quarters of 2025 was CNY 48,502,587.27, down from CNY 85,099,127.27 in 2024[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥10,915,753,537.57, a decrease of 3.24% from the end of the previous year[6] - The total current assets as of September 30, 2025, amount to CNY 9,068,559,826.74, a decrease from CNY 9,507,903,571.56 as of December 31, 2024, reflecting a decline of approximately 4.6%[16] - The total liabilities as of September 30, 2025, are CNY 9,068,559,826.74, compared to CNY 9,507,903,571.56 as of December 31, 2024, indicating a reduction of around 4.6%[17] - The company reported a total liability of CNY 9,246,637,310.17 as of the end of the reporting period, compared to CNY 9,629,085,600.98 in the previous year[18] - The total equity attributable to shareholders of the parent company was CNY 1,552,900,891.96, slightly up from CNY 1,539,284,389.77 in the previous year[18] Cash Flow - The company reported a cash flow from operating activities of ¥165,825,072.94 for the year-to-date period[6] - In the first three quarters of 2025, the net cash flow from operating activities was approximately ¥165.83 million, a significant decline compared to a net outflow of ¥139.75 million in the same period of 2024[24] - Total cash inflow from operating activities for the first three quarters of 2025 was ¥2.96 billion, while cash outflow was ¥2.80 billion, resulting in a net cash flow from operations[24] - Cash inflow from financing activities in the first three quarters of 2025 was approximately ¥4.74 billion, while cash outflow was about ¥4.99 billion, leading to a net cash outflow of ¥254.34 million[25] - The company's cash and cash equivalents at the end of the first three quarters of 2025 stood at approximately ¥1.00 billion, a decrease from ¥953.86 million at the end of the same period in 2024[25] Operational Efficiency - The decline in revenue and profit was primarily due to overall market demand slowdown and intensified industry competition[10] - The company paid approximately ¥209.65 million to employees in the first three quarters of 2025, compared to ¥260.34 million in 2024, reflecting a reduction in labor costs[24] - Research and development expenses for the first three quarters of 2025 were CNY 33,050,873.79, a decrease of 43% from CNY 58,231,044.44 in 2024[21] - The company experienced a credit impairment loss of CNY 94,239,021.73 in the first three quarters of 2025, compared to a gain of CNY 226,535.11 in the same period of 2024[22] Asset Management - The cash and cash equivalents increased to CNY 1,899,721,775.18 from CNY 1,867,382,616.50, showing a growth of about 1.8%[16] - Accounts receivable decreased to CNY 3,925,108,630.44 from CNY 4,012,721,229.23, representing a decline of approximately 2.2%[16] - The company’s short-term borrowings decreased to CNY 2,372,481,860.25 from CNY 2,472,136,573.82, showing a reduction of approximately 4.0%[17] - The company’s inventory increased slightly to CNY 46,604,931.44 from CNY 45,193,399.94, reflecting a growth of about 3.1%[16] - The company reported a significant amount of CNY 2,250,141,696.80 in contract assets as of September 30, 2025, compared to CNY 2,459,614,938.89 at the end of 2024, indicating a decrease of about 8.5%[16] Investment Activities - The cash flow from investment activities showed a net outflow of approximately ¥13.07 million in 2025, compared to a much larger outflow of ¥84.49 million in 2024[25] - The cash flow from investment activities included cash received from the disposal of fixed assets amounting to approximately ¥6.83 million in 2025[25] - The impact of exchange rate fluctuations on cash and cash equivalents was a decrease of ¥5,203.16 in 2025, contrasting with an increase of ¥49,239.21 in 2024[25]

中国太平洋保险（集团）股份有限公司 CHINA PACIFIC INSURANCE (GROUP) CO., LTD. 2025 年第三季度报告 （股票代码：601601） §1 重要提示 1.1 本公司董事会、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、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 本公司第十届董事会第十八次会议于 2025 年 10 月 30 日审议通过了本公司《2025 年第三季度报告》。应出席会议的董事 13 人，亲自出席会议的董事 12 人。其中，赵永 刚董事因其他公务无法出席会议，书面委托傅帆董事长出席会议并表决。 1.3 本公司 2025 年第三季度报告所载财务资料根据中国企业会计准则编制，且未经审计。 1.4 本公司负责人傅帆先生，主管会计工作负责人苏罡先生及会计机构负责人徐蓁女士保 证本季度报告中财务报告的真实、准确、完整。 | §1 | 重要提示 | 3 | | --- | --- | --- | | §2 | 主要财务数据 3 | | | §3 | 股东信息 | 4 | | §4 | 季度经营分析 5 | | | ...