[三季报]九阳股份(002242):九阳股份有限公司2025年第三季度报告（英文版）

 时间：2025年10月27日 21:55:31 中财网

原标题:九阳股份:九阳股份有限公司2025年第三季度报告（英文版）

Ticker:002242 Stock
Abbreviation:Joyoung
JoyoungCo.,Ltd.
InterimReportoftheThirdQuarter2025
TheCompanyandallmembersoftheBoardofDirectorshaveguaranteedthattheinformation disclosedistrue,accurateandcomplete,andcontainsnofalserecord,misleadingstatementsor materialomissions.Importantnotes:
BoardofDirectors,allthedirectorsandseniormanagementstaffofJoyoungCo.,Ltd.(hereinafterreferredtoasthe“Company”)haveguaranteedthatthisReportcontainsnofalserecord,misleadingstatementormaterialomission
andshallbejointlyandseverallyliableforthefactuality,accuracyandcompletenessoftheinformationgiveninthis
Report.
CEOoftheCompany,CFOoftheCompany,andChiefAccountantofAccountingInstitution,declaredthatthequarterlyfinancialstatementsshouldbetrue,accurateandcomplete.Incaseofanydiscrepancy,theChineseversionofthereportshallprevail.Whetherthethirdquarterlyreportwasaudited
□Yes√No
I.KeyAccountingDataandFinancialIndicators
1.KeyAccountingDataandFinancialIndicators
WhethertheCompanyperformedaretroactiveadjustmenttoorrestatementofaccountingdata?Yes□No
ReasonsforRetrospectiveAdjustmentorRestatement:
ChangeinAccountingPolicies

　From1July 2025to30 September 2025From1July2024to30 September2024　YoY ChangeFrom1 January2025 to30 September 2025From1January2024to30 September2024YoY Change　
　　Before After Adjustment AdjustmentAfter adjustment　　　　　
　　　　　　Before AdjustmentAfter AdjustmentAfter adjustme nt
Operatingrevenue (RMB)1,598,088,948 .431,795,401,886. 071,795,401,886 .07-10.99%5,585,101,782 .366,182,055,590. 306,182,055,590. 30-9.66%
NetProfitattributable toshareholdersofthe Company(RMB)854,630.27- 77,328,704.46- 77,328,704.46101.11%123,585,667.5 798,063,944.1298,063,944.1226.03%
Netprofitattributable toshareholdersofthe Companybeforenon- recurringgainsand losses(RMB)5,429,104.05- 81,396,143.29- 81,396,143.29106.67%192,476,191.4 9129,904,193.03129,904,193.0 348.17%
Netcashflowsfrom operatingactivities (RMB)————347,031,788.3 2416,958,032.06416,958,032.0 6-16.77%
Basicearningsper share(RMB/share)0.0011-0.10-0.10101.10%0.160.130.1323.08%
Dilutedearningsper share(RMB/share)0.0011-0.10-0.10101.10%0.160.130.1323.08%
Weightedaverage returnonnet assets(%)0.02%-2.20%-2.20%2.22%3.55%2.83%2.83%0.72%
　30September202531December2024　Flux　　　　
　　BeforeAdjustmentAfterAdjustmentAfterAdjustment　　　　
Totalassets(RMB)6,911,931,604.397,586,185,728.317,586,185,728.31-8.89%　　　　
Netassetsattributable toshareholdersofthe Company(RMB)3,466,752,351.703,485,895,659.653,485,895,659.65-0.55%　　　　
ReasonsforAccountingPolicyChange:
Effective January 1, 2024, the Company implemented "Accounting Treatment for Warranty-Type QualityAssurance Not Classified as a Single Performance Obligation" under Interpretation No. 18 of the Accounting
StandardsforBusinessEnterprisesissuedbytheMinistryofFinance,andretrospectivelyadjustedtheinformationfor
comparableperiods.Duetotheadjustmentofthisaccountingpolicy,thecostofsalesfromthebeginningof2024totheendofthereportingperiodwasRMB4,558,203,466.76beforerestatement,andRMB4,653,849,830.58afterrestatement. The selling expenses from the beginning of 2024 to the end of the reporting period were RMB
1,061,819,478.58 before restatement, and RMB 966,173,114.76 after restatement, while it does not involve
adjustmentstotheaforementionedkeyaccountingdataandfinancialindicators.2.Non-recurringgainandlossitemsandamountsthereof
√ Applicable□Notapplicable

ItemFrom1July 2025to30 September2025From1January 2025to30 September2025Note
Profitorlossfromdisposalofnon-currentassets (includingthewriteoffoftheprovisionforimpairment ofassets)198,160.05115,954.52　
Governmentgrantsincludedinthecurrentprofitor loss(thatiscloselyrelatedtotheoperationsofthe Company,exceptforthoseoffixedquotasoramounts accordingtothenationallyunifiedstandards)11,082,011.5113,346,113.04　
Gainsorlossesfromchangesinfairvaluearising fromtheholdingoftradingfinancialassets,derivative financialassets,tradingfinancialliabilitiesand derivativefinancialliabilitiesandinvestmentincome fromthedisposaloftradingfinancialassets, derivativefinancialassets,tradingfinancialliabilities, derivativefinancialliabilitiesandotherdebt investments,excludingtheeffectivehedgingbusiness relatedtotheCompany’snormalbusinessoperations-13,980,134.15-91,300,324.29Mainlydueto changesinthefair valueofthefund duringthisperiod.
Othernon-operatingincomeorexpensesexceptthe aboveitems-2,044,501.51-2,615,245.31　
Less:Impactofincometaxes-169,990.32-11,567,896.57　
Impactofminorityinterests(aftertax)　4,918.45　
Total-4,574,473.78-68,890,523.92--
Otherdetailsofprofitandlossitemsthatmeetthedefinitionofnon-recurringprofitorloss□Applicable√Notapplicable
NotApplicabletotheCompany.
ExplainthereasonsiftheCompanyclassifiesanynon-recurringgain/lossitemmentionedintheasarecurringgain/lossitem
□Applicable√Notapplicable
NotApplicabletotheCompany.
3.Changesinkeyaccountingdataandfinancialindicatorsandreasonsforsuchchanges√ Applicable□Notapplicable
Unit:RMB

Item30September 202531December 2024FluxNotes
　100,000,000.00　100.00%Mainlyduetothepurchaseofwealthmanagement productsinthecurrentperiod
　340,387,497.27712,656,154.6 8-52.24%Mainlyduetotheincreaseintheproportionof telegraphictransferreceiptsinthecurrentperiod
　307,938,994.71167,780,010.8 983.54%　
　46,815,755.2828,255,702.5965.69%Mainlyduetotheincreaseinprepaidpaymentstolock materialinthecurrentperiod
　62,391,089.66127,533,879.8 3-51.08%Mainlyduetothecollectionofreceivableequitytransfer paymentsinthecurrentperiod
　75,133,142.54202,358,259.4 3-62.87%MainlyduetothedecreaseofVATcreditleftoverinthe currentperiod
　3,321,356.8313,649,225.15-75.67%Mainlyduetothecapitalizationofthedecorationproject ofJinanheadquartersinthecurrentperiod
　28,665,695.8343,909,968.16-34.72%Mainlyduetotheamortizationofright-of-useassetsin thecurrentperiod
　249,856,420.70358,435,864.2 5-30.29%Mainlyduetothedeclineinthefairvalueoffundsinthe currentperiod
　　65,000,000.00- 100.00%Mainlyduetothecapitalizationoftheinfrastructure projectofJinanheadquartersinthecurrentperiod
　1,152,264,288. 371,669,178,558. 47-30.97%Mainlyduetothedecreaseinprocurementinthe currentperiod
　14,629,652.8589,585,139.98-83.67%Mainlyduetothepaymentofyear-endbonusesinthe currentperiod
　240,743,051.68160,783,563.5 849.73%Mainlyduetotheincreaseofpaymentsreceivedin advanceinthecurrentperiod
　35,307,224.7621,515,354.3364.10%MainlyduetotheincreaseinoutputVATtobe transferredinthecurrentperiod
　6,063,972.1019,036,496.34-68.15%Mainlyduetothepaymentofleaseliabilitiesinthe currentperiod
　14,153,998.1233,763,313.45-58.08%Mainlyduetothesignificantdeclineinforeigncurrency financialstatementtranslationdifferencesinthecurrent period
　16,187,616.438,069,185.28100.61%Mainlyduetothecapitalincreasebyminority shareholders
ItemFrom1 January2025 to30 September 2025From1 January2024 to30 September 2024YoYNote
　30,002,717.8014,176,615.31111.64%Mainlyduetotheincreaseinfunddividendincomein thecurrentperiod
　-91,300,324.29-55,102,935.25-65.69%Mainlyduetothefairvaluechangesoffundsinthe currentperiod
　-2,260,506.412,122,947.87- 206.48%Mainlyduetotheincreaseinbaddebtsoflong-term receivablesinthecurrentperiod
　414,427.922,702,993.34-84.67%Mainlyduetothedecreaseingainsfromdisposalof long-termassetsinthecurrentperiod
　1,250,942.61-13,747,619.99109.10%Mainlyduetotheincreaseinoperatingprofitinthe currentperiod
　41,416,700.9289,622,753.17-53.79%Mainlyduetotheincreaseincashpaidforinvestments inthecurrentperiod
II.ShareholderInformation
1.Totalnumberofcommonshareholdersandnumberofpreferredshareholderswhosevotingrightswereresumed,
shareholdingsofthetoptencommonshareholdersattheperiod-end
Unit:share

Totalnumberofcommonshareholdersat theendoftheReportingPeriod39,842Totalnumberofpreferredshareholderswith resumedvotingrightsattheendofthe ReportingPeriod(ifany)0　　　
Top10commonshareholders（excludinglendingandtransferofsharesbusiness）　　　　　　
NameofshareholderNatureof shareholderShareholdi ng percentageTotal sharesheld atthe period-endNumber of restricted shares heldPledgedorfrozenshares Status Number　
　　　　　　Number
ShanghaiLihong EnterpriseManagement Co.,Ltd.Domestic non-state- owned corporation50.40%384,523,74 60N/A0
JSGlobalCapital ManagementLimitedForeign corporation17.03%129,924,09 00N/A0
JoyoungESOPPlan (Phase1)Others2.01%15,313,8000N/A0
CentralHuijinInvestment Ltd.State-owned corporation1.47%11,201,2330N/A0
HongKongSecurities ClearingCo.,Ltd.Foreign corporation0.50%3,793,1630N/A0
CPIC-Dividend-Personal DividendOthers0.40%3,045,5120N/A0
ChinaMerchantsBank Co.,Ltd.-Southern AssetManagementCSI 1000ETFOthers0.37%2,811,6370N/A0
DajiaLifeInsuranceCo., Ltd.-TraditionalProductsOthers0.27%2,053,4000N/A0
YingxinWangDomestic Natural Person0.24%1,864,8000N/A0
BankofChinaLimited- GFCSIPensionIndustry IndexInitiatedSecurities InvestmentFundOthers0.24%1,800,0740N/A0
Top10non-restrictedcommonshareholders (excludinglendingandtransferofsharesbusiness,excludingexecutiverestrictedshares)　　　　　　
NameofshareholderNumberofnon- restrictedsharesheldTypeofshares　　　　
　　TypeofsharesNumber　　　
ShanghaiLihongEnterpriseManagementCo.,Ltd.384,523,746RMB common stock384,523,74 6　　　
JSGlobalCapitalManagementLimited129,924,090RMB common stock129,924,09 0　　　
JoyoungESOPPlan(Phase1)15,313,800RMB common stock15,313,800　　　
CentralHuijinInvestmentLtd.11,201,233RMB common stock11,201,233　　　
HongKongSecuritiesClearingCo.,Ltd.3,793,163RMB common stock3,793,163　　　

CPIC-Dividend-PersonalDividend3,045,512RMB common stock3,045,512
ChinaMerchantsBankCo.,Ltd.-SouthernAsset ManagementCSI1000ETF2,811,637RMB common stock2,811,637
DajiaLifeInsuranceCo.,Ltd.-TraditionalProducts2,053,400RMB common stock2,053,400
YingxinWang1,864,800RMB common stock1,864,800
BankofChinaLimited-GFCSIPensionIndustryIndex InitiatedSecuritiesInvestmentFund1,800,074RMB common stock1,800,074
Relatedoracting-in-concertpartiesamong shareholdersaboveInApril2019,theshareholding structureofBILTING DEVELOPMENTSLIMITEDchanged.MR.XuningWANG, theactualcontrolleroftheCompany,becametheactual controller of BILTING DEVELOPMENTS LIMITED (See Report No. 2019-027 of the Company on www.chinainfo.com.cn.). As a result, Shanghai Lihong Enterprise Management Co., Ltd. and BILTING DEVELOPMENTSLIMITED,bothcontrolledbyMr.Xuning WANG, are defined as acting-in-concert parties by the Administrative Measures for the Takeover of Listed Companies. Other than the aforementioned related and acting-in-concertparties,theCompanyisuncertainabout whether there are related or acting-in-concert parties amongshareholdersabove. In July 2024, BILTING DEVELOPMENTS LIMITED changed its name to JS Global Capital Management Limited, which is still a party acting in concert with the controllingshareholderoftheCompany,ShanghaiLihong Enterprise Management Co., Ltd. The aforementioned change does not involve any equity change of the Company’scontrollingshareholderandhasnoimpacton theCompany'soperatingactivities,andtherehasbeenno changeintheCompany'scontrollingshareholderandde factocontroller.　　
Explanationoncommonshareholdersparticipatingin securitiesmargintrading(ifany)N/A　　
Shareholdersholdingmorethan5%ofshares,top10shareholdersandtop10shareholderswithnon-restrictedsharesoutstandingparticipatinginthelendingandtransferofsharesbusiness□Applicable √Notapplicable
Top10shareholdersandtop10shareholderswithnon-restrictedsharesoutstandingchangedfromthepreviousperiodduetolending/repatriationinthelendingandtransferofsharesbusiness□Applicable √Notapplicable
2.TotalNumberofPreferredShareholdersandTOP10PreferredShareholdersandTheirShareholdings
□Applicable√Notapplicable
III.OtherSignificantEvents
□Applicable√Notapplicable
IV.QuarterlyFinancialStatements
1.FinancialStatements
1.1CONSOLIDATEDBALANCESHEET
Preparedby:JoyoungCo.,Ltd.
30September2025

Item30September20251January2025
Currentassets:　　
Cashatbankandonhand2,914,737,655.592,823,683,353.49
Depositreservationforbalance　　
Lendingfunds　　
Tradingfinancialassets100,000,000.00　
Derivativefinancialassets　　
Notesreceivable340,387,497.27712,656,154.68
Accountsreceivable757,671,473.161,078,483,153.25
Receivablesfinancing307,938,994.71167,780,010.89
Prepaidexpense46,815,755.2828,255,702.59
Premiumreceivable　　
Reinsuranceaccountsreceivable　　
Provisionofcessionreceivable　　
Otherreceivables62,391,089.66127,533,879.83
Including:Interestreceivable　　
Dividendreceivable　　
Redemptorymonetarycapitalforsale　　
Inventories659,638,052.37634,788,159.46
Including:DataResource　　
Contractassets　　
Holdingassetsforsale　　
Currentportionofnon-currentassets　　
Othercurrentassets75,133,142.54202,358,259.43
Totalcurrentassets5,264,713,660.585,775,538,673.62
Non-currentassets:　　
Issuanceofloansandadvances　　
Equityexpense　　
Otherequityinvestments　　
Long-termreceivables6,543,000.008,320,860.00
Long-termequityinvestments127,545,197.42128,396,158.04
Investmentsinotherequityinstruments274,093,373.87275,005,955.32
Othernon-currentfinancialassets249,856,420.70358,435,864.25
Investmentproperties106,342,526.8485,062,572.14
　30September20251January2025
　568,428,040.13557,786,839.95
　3,321,356.8313,649,225.15
　　　
　　　
　28,665,695.8343,909,968.16
　113,826,359.15115,485,619.26
　　　
　　　
　　　
　　　
　1,686,559.411,781,613.00
　166,909,413.63157,812,379.42
　　65,000,000.00
　1,647,217,943.811,810,647,054.69
　6,911,931,604.397,586,185,728.31
　　　
　　　
　　　
　　　
　　　
　　　
　1,737,506,449.971,895,230,245.10
　1,152,264,288.371,669,178,558.47
　　　
　240,743,051.68160,783,563.58
　　　
　　　
　　　
　　　
　14,629,652.8589,585,139.98
　31,374,578.6825,076,461.16
　160,999,670.29157,587,836.05
　　　
　　　
Handlingfeesandcommissionspayable　　
Dividendpayableforreinsurance　　
Holdingliabilitiesforsale　　
Currentportionofnon-currentliabilities24,701,975.8525,874,703.15
Othercurrentliabilities35,307,224.7621,515,354.33
Totalcurrentliabilities3,397,526,892.454,044,831,861.82
Non-currentliabilities　　
Reservefundforinsurancecontracts　　
Long-termborrowings　　
Bondspayable　　
Including:Preferredstock　　
Perpetualbonds　　
Leaseliabilities6,063,972.1019,036,496.34
Long-termpayables　　
Long-termpayrollpayable　　
Accruedliabilities2,799,809.002,953,582.92
Deferredincome5,583,042.976,393,611.17
Deferredtaxliabilities17,017,919.7419,005,331.13
Othernon-currentliabilities　　
Totalnon-currentliabilities31,464,743.8147,389,021.56
Totalliabilities3,428,991,636.264,092,220,883.38
　30September20251January2025
Shareholders’equity　　
Sharecapital763,017,000.00767,017,000.00
Otherequityinstruments　　
Including:preferredstock　　
Perpetualbond　　
Capitalsurplus590,530,209.29663,224,199.32
Less:Treasurystock　68,026,879.84
Othercomprehensiveincome14,153,998.1233,763,313.45
Specialreserve　　
Surplusreserve397,820,873.71397,820,873.71
Generalriskreserve　　
Undistributedprofits1,701,230,270.581,692,097,153.01
TotalequityattributabletoshareholdersoftheCompany3,466,752,351.703,485,895,659.65
Minorityinterests16,187,616.438,069,185.28
Totalshareholders’equity3,482,939,968.133,493,964,844.93
TOTALLIABILITIESANDSHAREHOLDERS’EQUITY6,911,931,604.397,586,185,728.31
Legalrepresentative:NingningYang Principalinchargeofaccounting:JiangangKan Headofaccountingdepartment:WenGuo
1.2CONSOLIDATEDINCOMESTATEMENTSFORTHENINEMONTHSENDED30SEPTEMBER2025
Unit:RMB

　Fortheninemonths ended30September 2025Fortheninemonths ended30September 2024
Totalrevenue5,585,101,782.366,182,055,590.30
Including:Operatingrevenue5,585,101,782.366,182,055,590.30
Interestincome　　
EarnedPremium　　
Handlingfeesandcommissionincome　　
Totaloperatingcost5,416,157,788.496,095,146,683.64
Including:Costofsales4,081,807,308.604,653,849,830.58
Interestexpense　　
Handlingfeesandcommissionexpenses　　
Surrendervalue　　
Netpaymentsforinsuranceclaims　　
Netprovisionforinsuranceliability　　
Bondinsuranceexpense　　
AmortizedReinsuranceExpenditures　　
Taxesandsurcharges25,679,249.6424,870,131.67
Sellinganddistributionexpenses913,987,815.91966,173,114.76
Generalandadministrativeexpenses237,730,172.68246,077,944.68
Researchanddevelopmentexpenses217,921,422.17272,308,636.26
Financialincome-60,968,180.51-68,132,974.31
Including:Interestexpenses961,964.091,711,118.84
Interestincome65,292,707.6673,136,123.89
Add:Otherincome24,126,964.1132,903,497.97
　Fortheninemonths ended30September 2025Fortheninemonths ended30September 2024
Investmentincome/(loss)30,002,717.8014,176,615.31
Including:Investmentincomefromassociatesandjoint ventures-850,960.626,906,615.31
Profitsorlossesarisingfromderecognitionof financialassetsmeasuredatamortizedcosts　　
Foreignexchangegains/(losses)　　
Netexposuretohedginggains/(losses)　　
Gains/(Losses)onchangesinfairvalue-91,300,324.29-55,102,935.25
Creditimpairmentlosses-2,260,506.412,122,947.87
Assetimpairmentlosses-2,220,476.93-2,292,486.50
Gainondisposalofassets414,427.922,702,993.34
Operatingprofit127,706,796.0781,419,539.40
Add:Non-operatingincome3,877,589.084,569,982.20
Less:Non-operatingexpenses6,791,307.798,065,730.87
Totalprofit124,793,077.3677,923,790.73
Less:Incometaxexpenses1,250,942.61-13,747,619.99
NetProfit123,542,134.7591,671,410.72
(1)Classifiedbycontinuityofoperations　　
Netprofitfromcontinuingoperations123,542,134.7591,671,410.72
Netprofitfromdiscontinuedoperations　　
(2)Classifiedbyownershipoftheequity　　
AttributabletoshareholdersoftheCompany123,585,667.5798,063,944.12
Minorityinterests-43,532.82-6,392,533.40
Othercomprehensiveincome,netoftax-19,609,315.33-16,473,086.67
Othercomprehensiveincomeattributabletoequityownersof theCompany,netoftax-19,609,315.33-16,473,086.67
(1)Othercomprehensiveincomeitemswhichwillnotbe reclassifiedsubsequentlytoprofitorloss-2,912,581.45-5,761,380.34
1)Changesarisingfromremeasurementofdefinedbenefit plan　　
2)Othercomprehensiveincomethatcannotbetransferredto profitorlossundertheequitymethod　　
3)Changesinfairvalueofinvestmentsinotherequity instruments-2,912,581.45-5,761,380.34
4)Changesinfairvalueofanenterprise'sowncreditrisk　　
5)Others　　
(2)Othercomprehensiveincomeitemswhichwillbe reclassifiedsubsequentlytoprofitorloss-16,696,733.88-10,711,706.33
1)Othercomprehensiveincomeavailablefortransfertoprofit orlossundertheequitymethod　　
2)Changesinfairvalueofotherdebtinvestments　　
3)Reclassificationoffinancialassetstoothercomprehensive income　　
4)Provisionforcreditimpairmentofotherdebtinvestments　　
5)Cashflowhedgereserve　　
6)Differencesontranslationofforeigncurrencyfinancial statements-16,696,733.88-10,711,706.33
7)Others　　
Othercomprehensiveincomeattributabletominority shareholders,netoftax　　
Totalcomprehensiveincome103,932,819.4275,198,324.05
　Fortheninemonths ended30September 2025Fortheninemonths ended30September 2024
AttributabletoequityownersoftheCompany103,976,352.2481,590,857.45
Attributabletominorityinterests-43,532.82-6,392,533.40
Earningspershare:　　
(1)Basicearningspershare0.160.13
(2)Dilutedearningspershare0.160.13
Inthecaseofabusinesscombinationunderthesamecontrolinthecurrentperiod,thenetincomerealizedbythepartybeingconsolidatedbeforethecombinationwas:RMB0.00,andthenetincomerealizedbythepartybeingconsolidatedinthepreviousperiodwas:RMB0.00.（未完）
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