Core Viewpoint - The company Shihua Machinery (000852) reported a significant decline in revenue and net profit for the first three quarters of 2025, attributing the losses to reduced income and changes in product structure, despite an increase in cash flow from operating activities [1][2]. Financial Performance - For the first three quarters of 2025, Shihua Machinery achieved revenue of 4.819 billion yuan, a year-on-year decrease of 14.62% - The net profit attributable to shareholders was 6.8856 million yuan, down 91.85% year-on-year - In Q3 2025, the company reported revenue of 1.343 billion yuan, a decline of 23.60% year-on-year, with a net profit of -21.143 million yuan [1][2]. Cash Flow and R&D - The net cash flow from operating activities for the first three quarters was approximately 183 million yuan, a substantial increase of 122.96% year-on-year, primarily due to increased cash receipts from sales [1]. - R&D expenses for the first three quarters were about 147 million yuan, a decrease of 41.84% year-on-year, attributed to a reduction in R&D projects [2]. Balance Sheet and Shareholder Activity - As of the end of Q3 2025, total assets were approximately 11.209 billion yuan, an increase of 7.61% from the end of the previous year - Equity attributable to shareholders was about 3.137 billion yuan, up 1.27% from the end of the previous year - The accounts receivable increased by approximately 9.3% to about 3.101 billion yuan, while inventory rose by 15.3% to about 4.319 billion yuan [2]. Market Activity - Shihua Machinery's stock price experienced a "three consecutive limit-up" trend, with a cumulative increase of 33.07% over three trading days from October 20 to 22, 2025 [2][3]. - The company signed an investment intention agreement with China Petroleum Group Capital Co., Ltd. and other related parties to invest in its wholly-owned subsidiary, aiming to enhance the competitiveness and R&D capabilities in the hydrogen energy equipment sector [3].

本报讯（首席记者王少勇）4月22日，第56个世界地球日当天，由自然资源部主办，自然资源部科技发展司、部宣传教育中心、中国地 质博物馆、重庆市规划和自然资源局承办，24家单位协办的"从山顶到海洋"科技成果科普巡展启动仪式在重庆市自然资源科普馆举行。据 悉，这是自2024年年底《中华人民共和国科学技术普及法》修订以来，由行业部门首批组织开展的科普巡展活动。 本次展览立足融合、汇聚合力、综合呈现、开启新局，旨在激励新时代自然资源工作者进一步弘扬科技创新优良传统，用科技的力量 守护绿水青山，用创新的智慧描绘美丽中国，共同谱写人与自然和谐共生的美丽新篇章。展览以"从山顶到海洋科技引领未来"为主题，分 为四大部分，共展出展品179件，系统展示了自然资源领域"从山顶到海洋"的科技创新辉煌成就。第一部分"科技强国总目标"，主要介绍以 习近平同志为核心的党中央关于加快建设科技强国等一系列重要决策部署以及习近平总书记关于自然资源和科技创新工作的重要指示批示 精神。第二部分"三深引领开拓新局"，主要介绍自然资源系统聚焦国家重大战略需求，在深地、深海、极地、深空等领域取得的具有代表 性的科技创新成果。第三部分"五系协同共筑华章"，主 ...