Core Viewpoint - The company, Zhenjiang Co., Ltd. (振江股份), has experienced a decline in both revenue and net profit for the first three quarters of 2025, with significant impacts attributed to foreign exchange losses and increased fixed costs due to new project investments [3][4]. Shareholder Changes - As of September 30, 2025, the number of shareholders decreased to 21,200, a reduction of 25.31% compared to June 30, 2025 [2][5]. - The average number of shares held per shareholder increased from 6,487 to 8,685, with an average holding value of 231,400 yuan [2]. Performance Disclosure Highlights - For the first three quarters of 2025, the company reported revenue of 2.859 billion yuan, a year-on-year decrease of 1.15% [3][4]. - The net profit attributable to shareholders was 43.52 million yuan, down 73.6% year-on-year, primarily due to foreign exchange losses and increased non-recurring losses from hedging [3][4]. - The third quarter alone saw revenue of 1.025 billion yuan, a year-on-year increase of 9.56%, but the net profit dropped by 32.75% to 27.83 million yuan [3][4]. Financial Summary - The company's debt ratio stands at 68.63%, with financial expenses amounting to 101 million yuan and a gross profit margin of 20.19% [3]. - The net cash flow from operating activities was -200 million yuan, worsening by 337.22% year-on-year, mainly due to increased working capital expenditures from production ramp-up [4]. - Total assets reached 7.841 billion yuan, reflecting a growth of 13.23% compared to the end of the previous year, while equity attributable to shareholders decreased by 2.04% to 2.422 billion yuan [4].