Core Insights - Yayi Technology (301113.SZ) reported a revenue of 239 million yuan for the first three quarters of 2025, representing a year-on-year increase of 22.23% [1] - The net profit attributable to shareholders decreased by 68.19% to 1.78 million yuan, while the net profit after excluding non-recurring items fell by 95.87% to 0.16 million yuan [1] - The net cash flow from operating activities was -2.99 million yuan, an improvement from -30.55 million yuan in the same period last year [1] Financial Performance - In Q3 2025, Yayi Technology achieved a revenue of 93.02 million yuan, a year-on-year growth of 9.19% [1] - The net profit attributable to shareholders for Q3 2025 was -2.29 million yuan, a significant decline of 1,575.86% compared to the previous year [1] - The net profit after excluding non-recurring items for Q3 2025 was -2.62 million yuan, down 105.18% year-on-year [1] Previous Year Comparison - In 2024, Yayi Technology reported a revenue of 296 million yuan, marking an 87.22% increase [1] - The net profit attributable to shareholders in 2024 was 11.17 million yuan, a decrease of 40.49% [1] - The net profit after excluding non-recurring items for 2024 was 6.86 million yuan, down 61.39% [1] - The net cash flow from operating activities in 2024 was -23.92 million yuan, compared to 27.83 million yuan in the previous year [1] IPO Details - Yayi Technology was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on December 22, 2021, with an initial public offering of 17.5 million shares at a price of 31.18 yuan per share [2] - The total amount raised from the IPO was 546 million yuan, with a net amount of 493 million yuan, exceeding the original plan by 90 million yuan [3] - The funds raised were intended for the construction of production lines, research and development center, and to supplement working capital [3]