Financial Performance - The company reported a total revenue of 272 million yuan for Q3 2025, a year-on-year decrease of 21.33% compared to 346 million yuan in Q3 2024 [1] - The net profit attributable to shareholders was -59.02 million yuan, representing a significant decline of 827.61% from -6.36 million yuan in the same period last year [1] - The gross profit margin was 24.97%, a slight decrease of 0.08% year-on-year, while the net profit margin plummeted to -22.54%, down 812.99% [1] Accounts Receivable and Cash Flow - The company's accounts receivable amounted to 438 million yuan, with a staggering ratio of accounts receivable to net profit reaching 6752.35% [1] - Operating cash flow per share was -0.12 yuan, an increase of 65.53% year-on-year, indicating a worsening cash flow situation [1] Cost Structure - Total selling, administrative, and financial expenses reached 63.61 million yuan, accounting for 23.36% of revenue, which is a 34.15% increase compared to the previous year [1] - The company’s interest-bearing debt decreased significantly by 65.06% to 73.67 million yuan [1] R&D and Market Strategy - The company plans to increase R&D investment and focus on breakthroughs in key core technologies to enhance market competitiveness [3] - Future product development will target environmental monitoring, smart traffic, and meteorological observation, with a focus on rapid iteration of smart monitoring products [4] - The company aims to leverage national policies to capture new market opportunities, particularly in high-end instrument manufacturing and modern ecological monitoring systems [4] International Expansion - The company is looking to accelerate its internationalization process by expanding into Southeast Asia and Middle Eastern markets, capitalizing on the advantages of domestic equipment [4] Policy and Market Research - The company has established a market research team to ensure that its decisions are forward-looking and adaptable to industry policies and market dynamics [4]

Core Viewpoint - The company plans to enhance its research and development (R&D) efforts, particularly in key core technologies, to maintain and improve its market competitiveness while addressing current financial challenges. Group 1: R&D and Product Development - The company aims to increase R&D investment and focus on breakthroughs in core technologies, particularly in spectroscopy, chromatography, and sensor platforms [1] - The product line will continue to expand in environmental monitoring, smart transportation, and meteorological observation, with a focus on air quality, wastewater, and carbon monitoring systems [1] - The company will leverage national policies to seize new market opportunities, such as domestic substitution of high-end instruments and the modernization of ecological monitoring systems [1] Group 2: Financial Performance - For the first half of 2025, the company reported a main revenue of 186 million yuan, a year-on-year decrease of 27.26%, and a net profit attributable to shareholders of -35.07 million yuan, a decline of 1877.03% [2] - In Q2 2025, the company’s single-quarter revenue was 84.49 million yuan, down 38.8% year-on-year, with a net profit of -32.74 million yuan, a decrease of 360.58% [2] - The company’s gross margin stood at 26.4%, with a debt ratio of 19.04% [2] Group 3: Market Strategy and International Expansion - The company is focusing on international expansion, particularly in Southeast Asia and the Middle East, leveraging the advantages of domestic equipment and the "Belt and Road" initiative [1] - A dedicated policy research team is in place to ensure the company's decision-making is proactive and adaptable to market dynamics and policy changes [1] Group 4: Financing and Market Activity - Recent financing data indicates a net outflow of 104 million yuan in financing over the past three months, with a decrease in financing balance [3] - The company also experienced a net outflow of 5.34 million yuan in securities lending, reflecting a reduction in borrowing balance [3]

Group 1: R&D Investment and Strategy - The company plans to increase R&D investment focusing on key core technologies to enhance market competitiveness [2] - Emphasis on collaboration in "production, learning, research, and application" to advance core technology platforms in spectroscopy, chromatography, and sensors [2] - Targeted R&D resources towards environmental monitoring, including air quality, waste gas, water quality, and carbon monitoring product systems [2][3] Group 2: Product Line and Market Opportunities - The product line primarily focuses on environmental monitoring, smart transportation, and meteorological observation [3] - Plans to accelerate the development of integrated low-air meteorological stations and comprehensive solutions for adverse weather conditions [3] - The company aims to leverage national policies to capture new market opportunities, such as domestic substitution of high-end instruments and modern ecological monitoring systems [3] Group 3: International Expansion and Competitive Strategy - The company is looking to accelerate internationalization by expanding into Southeast Asia and Middle Eastern countries along the "Belt and Road" initiative [3] - The competitive advantage of domestic equipment is highlighted, particularly in terms of cost-effectiveness [3] Group 4: Policy Research and Decision-Making - The marketing center and R&D center collaborate to conduct research and analysis on industry policies, market dynamics, customer needs, and technological trends [3] - This collaboration ensures the company's decision-making is forward-looking and adaptable to changes in the policy environment [3] Group 5: Disclosure of Information - The activity did not involve the disclosure of any undisclosed significant information [3]