Core Insights - Zhongke Jiangnan reported a revenue of 364 million yuan for the first three quarters of 2025, indicating a recovery in industry demand and growth in order fulfillment [1] - The company's contract liabilities reached approximately 76.07 million yuan, reflecting a year-on-year increase of 67.37%, further confirming the positive market trend [1] Business Developments - In traditional electronic payment, Zhongke Jiangnan's nationwide products continue to create business scenarios that integrate product and demand, providing significant development space [2] - In smart finance, the company successfully won the bid for the integrated budget management software project for the Jiangxi Provincial Finance Department, showcasing its expertise in digital finance [2] - In smart healthcare, over 1.5 million insured individuals have activated and used the national medical insurance wallet, with over 300,000 successful transfers and a total of over 200 million yuan in "family funds" circulated [2]

Core Insights - Zhongke Jiangnan reported a revenue of 364 million yuan and a net profit attributable to shareholders of -64.249 million yuan for the first three quarters of 2025, with a third-quarter revenue of 124 million yuan and a net profit of -15.8007 million yuan, indicating a narrowing loss year-on-year [1] - As of the end of Q3 2025, the company's contract liabilities reached approximately 76.067 million yuan, a 67.37% increase year-on-year, reflecting a recovery in industry demand and growth in order fulfillment [1] Business Developments - In the traditional business of payment digitization, Zhongke Jiangnan's nationwide electronic payment products continue to create business scenarios and development space by integrating product and demand [1] - The company is innovating product design solutions by reusing electronic voucher library channels to expand the application scenarios of electronic products and services [1] Smart Finance Initiatives - Zhongke Jiangnan has successfully won bids for several projects in the digital finance sector, including budget management software for Jiangxi Province and data classification projects for Guangxi Province, demonstrating its expertise in the field [2] - The company is integrating AI with fiscal budget execution management, supporting a provincial finance department in exploring deep applications of AI in finance [2] Electronic Voucher Standards - The Ministry of Finance and other departments have issued a notice promoting the application of electronic voucher accounting data standards nationwide, with Zhongke Jiangnan assisting in the digital transformation of large agricultural enterprises through an integrated digital base for electronic voucher processing [3] - The company has also won bids for electronic voucher service platform projects in Xinjiang and Guangxi, showcasing its leading position in the electronic voucher accounting data entry field [3] Smart Healthcare Contributions - Zhongke Jiangnan has contributed to the national medical insurance wallet, with over 1.5 million insured individuals using the service and over 300,000 successful transfers, with the total amount exceeding 200 million yuan [3]

截至2025年三季度末，中科江南合同负债约7606.70万元，较2025年二季度末增加43.89%，较上年同期 增长67.37%，印证行业需求正在恢复，订单开始结转落地并实现增长，预计将对未来的业绩复苏提供 进一步支撑。同时，三季报显示截至2025年三季度末，中科江南经营活动产生的现金流量净额比上年同 期增长23.34%，显示出公司较为稳健的经营现金管理能力和抗风险能力。 电子凭证会计数据入账标准方面，今年财政部等部委联合发布的《关于推广应用电子凭证会计数据标准 的通知》要求在全国范围推广应用电子凭证会计数据标准，明确分类推进电子凭证全流程无纸化处理、 发挥平台推广扩面支撑作用等工作内容和要求，中科江南助力中棉集团围绕电子凭证（发票）处理构建 了业财税一体化的数字新基座，实现从棉花收购、发票开具到进项抵扣的全链路数字化闭环，不仅显著 提升了对棉农的服务效率，还有力支撑了大型农业企业的财税数字化转型，用技术赋能企业实现高质量 发展。此外，中科江南成功中标新疆维吾尔自治区电子凭证综合服务平台建设项目，广西自然资源职业 技术学院电子凭证、会计电子档案系统项目等，显示出公司在电子凭证会计数据入账领域的领先优势。 中科 ...