[三季报]老板电器(002508):2025年第三季度报告（英文版）

 时间：2025年10月30日 16:35:34 中财网

原标题:老板电器:2025年第三季度报告（英文版）

Stockcode:002508 Stockname:RobamAppliances AnnouncementNo.:2025-056HangzhouRobamAppliancesCo.,Ltd.
Q32025Report
HangzhouRobamAppliancesCo.,Ltd.(theCompany)andallmembersofitsBoardofDirectorsherebyguaranteethatthere arenofalserepresentations,misleadingstatementsormaterialomissionsinthisQuarterlyReport(“theReport”),andthe informationcontainedhereinisauthentic,accurateandcomplete.ImportantNotes
1.TheBoardofDirectors,theBoardofSupervisors,aswellasthedirectors,supervisorsandseniormanagementoftheCompany
herebyguaranteethattherearenofalserepresentations,misleadingstatementsormaterialomissionsintheReport,andare
severallyandjointlyliablefortheauthenticity,accuracyandcompletenessoftheinformationcontainedherein.2.TheheadoftheCompany,thepersoninchargeoftheCompany’saccountingandtheheadoftheaccountingdepartment(the
accountantincharge)herebydeclareandwarrantthatthefinancialreportcontainedintheReportisauthentic,accurate,and
complete.
3.WhethertheQ3financialreporthasbeenaudited？

□Yes?No
I.KeyFinancialData
(I)KeyAccountingDataandFinancialIndicators
WhethertheCompanyneedstoretroactivelyadjustorrestatetheaccountingdataofpreviousyears?□Yes?No

　ThereportingperiodYoYchangeFromthebeginningof theyeartotheendof thereportingperiodYoYchange
OperatingIncome (RMB)2,704,212,014.601.42%7,311,736,717.86-1.14%
Netprofitattributable toshareholdersofthe listedcompany(RMB)445,685,188.260.65%1,157,326,146.45-3.73%
Netprofitattributable toshareholdersofthe listedcompanyafter deductingnon- recurringgains/losses (RMB)417,748,166.590.24%1,059,747,405.50-1.37%
Netcashflowfrom operatingactivities (RMB)——729,194,650.2238.69%
Basicearningsper share(EPS) (RMB/share)0.470.00%1.22-3.94%
DilutedEPS (RMB/share)0.470.00%1.22-3.94%
Weightedaverage returnonnetassets3.82%Adecreaseof0.19%9.98%Adecreaseof1.03%
　Endofthereporting periodEndoflastyearChange　
Totalassets(RMB)16,750,049,401.6017,043,258,282.33-1.72%　
Owner'sequity attributableto shareholdersofthe listedcompany(RMB)11,413,394,766.7711,178,437,443.192.10%　
(II)ItemsandAmountsofNon-recurringGainsandLosses
?Applicable□Notapplicable

ItemAmountforthecurrent reportingperiodAmountfromthebeginning oftheyeartotheendofthe reportingperiodDescription
Gainsandlossesondisposal ofnon-currentassets (includingthewritten-off partoftheprovisionforasset impairmentaccrued)-2,790,079.44-6,600,757.78　
Governmentsubsidies includedincurrentgainsand8,681,282.5637,784,189.99　
losses(excludinggovernment subsidiescloselyrelatedto theCompany'snormal business,inlinewithnational policy,enjoyedaccordingto establishedstandards,and havingasustainedimpacton theCompany'sgainsand losses).　　　
Reversalofimpairment provisionforaccounts receivabletestedfor impairmentseparately28,983,975.3389,143,826.79　
Othernon-operatingincome andexpensesexcludingthe itemslistedabove-1,370,353.43-4,209,470.99　
Less:Affectedamountof incometax4,999,596.5817,949,645.07　
Affectedamountof minorityshareholders’equity (aftertax)568,206.76589,401.99　
Total27,937,021.6897,578,740.95--
Otheritemsofgainsandlossesmeetingthedefinitionofnon-recurringgainsandlosses:□Applicable?Notapplicable
TheCompanydoesnothaveotheritemsofgainsandlossesmeetingthedefinitionofnon-recurringgainsandlossesExplanationonthecircumstancewhereitemsofthenon-recurringgainsandlosseslistedintheExplanatoryAnnouncementNo.1
onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—Non-recurringProfitsandLosses(referredto
as“AnnouncementNo.1”)aredefinedasrecurringprofitsandlosses?Applicable□Notapplicable

ItemAmount(inRMB)Reasons
VATexemption,reductionorrefund27,021,111.35Nationaltaxpolicy,regularbusiness
Refundofindividualincometax handlingfee1,243,598.63Nationaltaxpolicy,regularbusiness
(III)ChangesinMajorAccountingDataandFinancialIndicatorsandTheirReasons?Applicable□Notapplicable

BalancesheetitemsSeptember30,2025January01,2025Percentage ofchangeReasonforchange
Cashandcash equivalents678,895,535.011,631,776,094.27-58.40%Mainlyduetoincreasedpurchasesof wealthmanagementproducts.
Prepayments258,103,705.07161,690,670.7159.63%Mainlyduetotheincreaseinadvance paymentsformaterialsandexpenses.
Non-currentassets duewithinoneyear621,044,164.38899,560,428.08-30.96%Mainlyduetothedecreaseinfixed- termdepositsduewithinoneyear.
Othercurrentassets295,928,552.311,411,059,496.48-79.03%Mainlyduetothedecreaseinfixed- termdepositsandtheincreasein long-termdeposits.
Long-termequity investment5,723,843.3810,561,060.79-45.80%Mainlyduetolossesincurredbynon- controllingsubsidiaries.
Othernon-current financialassets800,000,000.00300,000,000.00166.67%Mainlyduetotheincreaseinbank wealthmanagementproductswith maturitiesoveroneyear.
Constructionin600,487,917.57457,357,111.2831.30%Mainlyduetoincreasedinvestmentin
　　　　　
Payrollpayable40,426,509.93188,410,062.92-78.54%Mainlyduetothefullpaymentof 2024year-endbonuses.
Incomestatement itemsFromthebeginningof theyeartotheendof thereportingperiodThesameperiodlast yearPercentage ofchangeReasonforchange
Otherincome66,048,899.97104,314,776.28-36.68%Mainlyduetothedecreasein governmentsubsidies.
Investmentincome fromassociatesand jointventures-6,943,313.88-3,680,047.2488.67%Mainlyduetoincreasedlossesof non-controllingsubsidiaries.
Lossfromcredit impairment56,444,113.25-9,908,601.43-669.65%Mainlyduetothedecreaseinbad debtprovisionsasaccountsreceivable werecollected.
Lossfromassets impairment-4,100,322.491,930,820.03-312.36%Mainlyduetotheincreasein inventorywrite-downs.
Gainsonasset disposals-5,753,401.49-2,325,065.84147.45%Mainlyduetotheincreaseinlosses fromthesaleofmortgagedproperties forprojects.
Non-operatingincome4,158,613.94847,605.05390.63%Mainlyduetotheincreaseinreceived compensationforinfringement.
Cashflowstatement itemsFromthebeginningof theyeartotheendof thereportingperiodThesameperiodlast yearPercentage ofchangeReasonforchange
Netcashflowfrom operatingactivities729,194,650.22525,768,857.3838.69%Mainlyduetotheincreaseinpayment collection.
Netcashflowfrom investmentactivities-724,683,270.2897,017,348.45-846.96%Mainlyduetoincreasedpurchasesof wealthmanagementproducts.
Netcashflowfrom financingactivities-934,845,721.92-1,426,212,996.85-34.45%Mainlyduetotimingdifferencesin dividenddistribution.
II.ShareholderInformation
(I)TotalNumberofCommonShareholdersandPreferredShareholderswiththeVotingRightsRecoveredandShareholdingoftheTop10Shareholders
Unit:share

Totalnumberofcommon shareholdersattheendofthe reportingperiod56,313Totalnumberofpreferredshareholderswiththe votingrightsrecoveredattheendofreportingperiod (ifany)0　　　
Shareholdingsofthetop10shareholders(excludingshareslentthroughrefinancing)　　　　　　
Nameof shareholderNatureof shareholderShareholding ratioNumberof sharesNumberof sharessubject tosales restrictionsPledged,markedorfrozenshares　
　　　　　StatusQuantity
Hangzhou Robam Industrial GroupCo.,Ltd.Domesticnon- state-owned corporation49.90%471,510,0000NotApplicable0
HongKong Securities Clearing Company LimitedOverseas corporation6.72%63,490,4580NotApplicable0
China Merchants BankCo.,Ltd. –ICBCCredit SuisseValueOthers1.52%14,392,8260NotApplicable0
SelectMixed Securities Investment Fund　　　　　　
ShenGuoyingDomestic naturalperson1.30%12,240,0000NotApplicable0
Schroder Investment Management (HongKong) Limited- Schroder GlobalEquity FundChinaA- Shares (Exchange)Others1.26%11,936,0550NotApplicable0
ChinaLife Insurance (Group) Company– Traditional– General Insurance Products– StockConnect (Innovative Strategy)Others0.94%8,906,2000NotApplicable0
Agricultural BankofChina Co.,Ltd.-CSI 500Exchange TradedFundOthers0.73%6,855,6530NotApplicable0
Hangzhou Jinchuang InvestmentCo., Ltd.Domesticnon- state-owned corporation0.70%6,640,0850NotApplicable0
ChinaPacific LifeInsurance Co.,Ltd.– Traditional– General Insurance ProductsOthers0.69%6,534,3000NotApplicable0
Hangzhou Yinchuang InvestmentCo., Ltd.Domesticnon- state-owned corporation0.67%6,318,0000NotApplicable0
Shareholdingsofthetop10shareholdersnotsubjecttosalesrestrictions(excludingshareslentthroughrefinancingandexecutive lockedshares)　　　　　　
NameofshareholderNumberofsharesnotsubjecttosalesrestrictionsTypeofshareandnumberof shares　　　　
　　TypeofshareQuantity　　　
HangzhouRobamIndustrial GroupCo.,Ltd.471,510,000RMBordinary shares471,510,000　　　
HongKongSecuritiesClearing CompanyLimited63,490,458RMBordinary shares63,490,458　　　
ChinaMerchantsBankCo.,Ltd.–14,392,826RMBordinary14,392,826　　　

ICBCCreditSuisseValueSelect MixedSecuritiesInvestmentFund　shares　
ShenGuoying12,240,000RMBordinary shares12,240,000
SchroderInvestmentManagement (HongKong)Limited-Schroder GlobalEquityFundChinaA- Shares(Exchange)11,936,055RMBordinary shares11,936,055
ChinaLifeInsurance(Group) Company–Traditional–General InsuranceProducts–Stock Connect(InnovativeStrategy)8,906,200RMBordinary shares8,906,200
AgriculturalBankofChinaCo., Ltd.-CSI500ExchangeTraded Fund6,855,653RMBordinary shares6,855,653
HangzhouJinchuangInvestment Co.,Ltd.6,640,085RMBordinary shares6,640,085
ChinaPacificLifeInsuranceCo., Ltd.–Traditional–General InsuranceProducts6,534,300RMBordinary shares6,534,300
HangzhouYinchuangInvestment Co.,Ltd.6,318,000RMBordinary shares6,318,000
Descriptionoftheassociatedrelationshipor consistentactionsoftheaboveshareholdersMr.RenJianhuaistheactualcontrollerofthecontrollingshareholderof theCompany-HangzhouRobamIndustrialGroupCo.,Ltd.,andthe shareholderoftheCompany-HangzhouJinchuangInvestmentCo.,Ltd.; andthenaturalpersonshareholder,ShenGuoying,ishiswife.Therefore, thereisapossibilitythattheseshareholderswillactinconcert.　　
Descriptionofthetop10shareholdersengagingin securitiesmargintrading(ifany)None　　
Shareslendingthroughrefinancinginvolvingshareholdersholdingmorethan5%oftheshares,thetop10shareholders,andthe
top10shareholdersofunrestrictedcirculatingshares
□Applicable?Notapplicable
Comparedtothepreviousperiod,thechangeisduetothetop10shareholdersandthetop10unrestrictedcirculatingshareholders
lending/returningsharesforrefinancingpurposes.
□Applicable?Notapplicable
(II)TotalNumberoftheCompany’sPreferredShareholdersandShareholdingoftheTop10PreferredShareholders
□Applicable?Notapplicable
III.OtherSignificantMatters
□Applicable?Notapplicable
IV.QuarterlyFinancialStatements
(I)FinancialStatements
1.Consolidatedbalancesheet
Preparedby:HangzhouRobamAppliancesCo.,Ltd.
September30,2025

ItemEndingbalanceBeginningbalance
Currentassets:　　
Cashandcashequivalents678,895,535.011,631,776,094.27
Depositreservationforbalance　　
Lendingstobanksandotherfinancial institutions　　
Financialassetsheldfortrading2,770,000,000.002,180,000,000.00
Derivativefinancialassets　　
Notesreceivable736,003,720.37817,563,424.67
Accountsreceivable1,721,241,036.461,963,710,151.61
Accountsreceivablefinancing　　
Prepayments258,103,705.07161,690,670.71
Receivablepremium　　
Reinsuranceaccountsreceivable　　
Reinsurancecontractreserves receivable　　
Otherreceivables81,231,399.5986,729,886.98
Inc:Interestsreceivable　　
Dividendsreceivable　　
Redemptorymonetarycapitalforsale　　
Inventory1,265,386,540.251,214,012,761.29
Including:Dataresources　　
Contractassets　　
Assetsheldforsale　　
Non-currentassetsduewithinoneyear621,044,164.38899,560,428.08
Othercurrentassets295,928,552.311,411,059,496.48
Totalcurrentassets8,427,834,653.4410,366,102,914.09
Non-currentassets:　　
Loansandadvances　　
Creditorsinvestment　　
Otherdebtinvestment　　
Long-termaccountreceivable　　
Long-termequityinvestment5,723,843.3810,561,060.79
Investmentinotherequityinstruments2,116,023.222,116,023.22
Othernon-currentfinancialassets800,000,000.00300,000,000.00
Investmentproperties82,510,767.9985,850,636.19
Fixedassets1,528,951,596.481,611,144,579.04
Constructioninprocess600,487,917.57457,357,111.28
Biologicalassetsforproduction　　
Oil&gasassets　　
Rightofuseassets8,647,405.9710,275,253.96
Intangibleassets199,492,127.96205,881,656.70
Including:Dataresources　　
Developmentexpenditure　　
Including:Dataresources　　
Goodwill　　
Long-termprepaidexpenses3,728,394.674,756,409.65
Deferredincometaxassets:406,504,224.42355,443,564.81
Othernon-currentassets4,684,052,446.503,633,769,072.60
Totalnon-currentassets8,322,214,748.166,677,155,368.24
Totalassets16,750,049,401.6017,043,258,282.33
Currentliabilities:　　
Short-termborrowings97,746,568.4993,239,299.06
Borrowingsfromthecentralbank　　
Borrowingsfrombanksandother financialinstitutions　　
Financialliabilitiesheldfortrading　　
Derivativefinancialliabilities　　
Notespayables984,074,679.291,061,073,856.74
Accountspayable2,523,297,316.512,830,095,046.91
Advancereceipts　　
Contractliabilities836,403,435.40867,810,932.52
Financialassetssoldforrepurchase　　
Depositsfromcustomersand interbank　　
Receivingsfromvicariouslytraded securities　　
Receivingsfromvicariouslytraded securities　　
Payrollpayable40,426,509.93188,410,062.92
Taxespayable240,091,239.92189,784,241.67
Otherpayables289,249,360.54285,326,671.78
Inc:Interestspayable　　
Dividendspayable　　
Feesandcommissionspayable　　
Dividendspayableforreinsurance　　
Liabilitiesheldforsale　　
Non-currentliabilitiesduewithinone year1,685,157.162,136,543.64
Othercurrentliabilities86,426,253.1695,808,311.01
Totalcurrentliabilities5,099,400,520.405,613,684,966.25
Non-currentliabilities:　　
Reservesforinsurancecontracts　　
Long-termloans　　
Bondspayable　　
Inc:Preferredshares　　
Perpetualbonds　　
Leaseliabilities8,494,965.7810,197,520.49
Long-termaccountspayable　　
Long-termpayrollpayable　　
Estimatedliabilities2,052,455.40　
Deferredincome104,981,646.89114,504,272.72
Deferredincometaxliabilities44,520,433.2438,784,781.76
Othernon-currentliabilities　　
Totalnon-currentliabilities160,049,501.31163,486,574.97
Totalliabilities5,259,450,021.715,777,171,541.22
Owner’sequity:　　
Capitalstock944,938,916.00944,782,166.00
Otherequityinstruments　　
Inc:Preferredshares　　
Perpetualbonds　　
Capitalreserve260,564,552.77237,627,547.19
Less:treasuryshare　　
Othercomprehensiveincome-100,075,255.40-99,551,592.95
Specialreserve　　
Surplusreserve474,516,412.50474,516,412.50
Generalriskreserves　　
Undistributedprofits9,833,450,140.909,621,062,910.45
Totalowners’equityattributabletothe parentcompany11,413,394,766.7711,178,437,443.19
Minorityinterests77,204,613.1287,649,297.92
Totalowners’equity11,490,599,379.8911,266,086,741.11
Totalliabilitiesandowner’sequity16,750,049,401.6017,043,258,282.33
Legalrepresentative:RenJianhuaPersoninchargeofaccounting:ZhangGuofuHeadoftheaccountingdepartment:ZhangGuofu
2.ConsolidatedincomestatementfromthebeginningoftheyeartotheendofthereportingperiodInRMB

ItemAmountofthecurrentperiodAmountofthepreviousperiod
I.Totaloperatingincome7,311,736,717.867,395,769,773.08
Inc:Operatingincome7,311,736,717.867,395,769,773.08
Interestincome　　
Earnedpremium　　
Feeandcommissionincome　　
II.Totaloperatingcosts6,117,425,197.896,146,967,386.74
Inc:Operatingcosts3,524,381,534.453,665,988,049.74
Interestexpenses　　
Feeandcommissionexpenses　　
Surrendervalue　　
Netpaymentsforinsurance claims　　
Netallotmentofreservesfor insuranceliabilities　　
Policydividendexpenditures　　
Reinsuranceexpenses　　
Taxesandsurcharges49,065,764.3456,000,589.33
Salesexpenses2,067,729,843.681,942,660,453.45
Administrativeexpenses338,478,868.64341,872,251.66
R&Dexpenses244,651,404.11276,355,597.58
Financialexpenses-106,882,217.33-135,909,555.02
Including:Interestexpenses2,720,934.392,541,064.67
Interestincome113,301,119.29140,964,132.11
Add:otherincome66,048,899.97104,314,776.28
Investmentincome(“-”for losses)60,151,699.4367,413,198.19
Including:Incomefrom investmentinjointventuresand affiliatedenterprises-6,943,313.88-3,680,047.24
Gainson derecognitionoffinancialassets measuredatamortizedcost　　
Exchangegains(“-”forlosses)　　
Netexposurehedginggains(“-” forlosses)　　
Gainsfromchangesinfairvalue (“-”forlosses)　　
Lossesfromcreditimpairment (“-”forlosses)56,444,113.25-9,908,601.43
Lossesfromassetimpairment(“- ”forlosses)-4,100,322.491,930,820.03
Gainsondisposalofassets(“-” forlosses)-5,753,401.49-2,325,065.84
III.Operatingprofits(“-”forlosses)1,367,102,508.641,410,227,513.57
Add:non-operatingincome4,158,613.94847,605.05
Less:non-operatingexpenditure9,215,441.227,761,798.89
IV.Totalprofits(“-”fortotallosses)1,362,045,681.361,403,313,319.73
Less:incometaxexpenses217,531,132.80217,608,806.01
V.Netprofits(“-”forlosses)1,144,514,548.561,185,704,513.72
(I)Byoperationalsustainability　　
1.Netprofitsfromcontinuing operations(“-”fornetlosses)1,144,514,548.561,185,704,513.72
2.Netprofitsfromdiscontinued operations(“-”fornetlosses)　　
(II)Byownership　　
1.Netprofitattributableto shareholdersoftheparentcompany(“-” fornetlosses)1,157,326,146.451,202,179,949.11
2.Minorityshareholders’gainsand losses(“-”fornetlosses)-12,811,597.89-16,475,435.39
VI.After-taxnetamountofother comprehensiveincome-553,055.56-167,647.18
After-taxnetamountofother comprehensiveincomeattributabletothe ownersofparentcompany-523,662.45-135,296.66
(I)Othercomprehensiveincome thatcannotbereclassifiedintogainsand losses　　
1.Changesinre-measuredand definedbenefitplans　　
2.Othercomprehensiveincome whichcannotbetransferredintogainsor lossesundertheequitymethod　　
3.Changesinfairvalueofthe investmentinotherequityinstruments　　
4.Changesinfairvalueofthe creditriskoftheCompany　　
5.Others　　
(II)Othercomprehensiveincome whichwillbereclassifiedintogainsand losses-523,662.45-135,296.66
1.Othercomprehensiveincome whichcanbetransferredintogainsand lossesundertheequitymethod　　
2.Changesinfairvalueofother debtinvestments　　
3.Amountoffinancialassets reclassifiedintoothercomprehensive income　　
4.Provisionforcreditimpairment ofotherdebtinvestments　　
5.Cashflowhedgereserve　　
6.Converteddifferenceinforeign currencystatements-689,212.45-135,296.66
7.Others　　
After-taxnetamountofother comprehensiveincomeattributableto minorityshareholders-29,393.11-32,350.52
VII.Totalcomprehensiveincome1,143,961,493.001,185,536,866.54
(I)Totalcomprehensiveincome attributabletotheownersoftheparent company1,156,802,484.001,202,044,652.45
(II)Totalcomprehensiveincome attributabletominorityshareholders-12,840,991.00-16,507,785.91
VIII.Earningspershare(EPS):　　
(I)BasicEPS1.221.27
(II)DilutedEPS1.221.27
Inthecaseofmergerofenterprisesunderthesamecontrolinthecurrentperiod,thenetprofitrealizedbythemergedpartybefore
themergeris:RMB0.00,andthenetprofitrealizedbythemergedpartyinthepreviousperiodis:RMB0.00.Legalrepresentative:RenJianhuaPersoninchargeofaccounting:ZhangGuofuHeadoftheaccountingdepartment:ZhangGuofu
3.Consolidatedcashflowstatementfromthebeginningoftheyeartotheendofthereportingperiod
ItemAmountofthecurrentperiodAmountofthepreviousperiod
I.Cashflowfromoperatingactivities:　　
Cashreceivedforthesaleofgoods andrenderingofservices8,436,268,586.347,903,750,434.12
Netincreaseinclients’depositsand depositsfrombanksandotherfinancial institutions　　
Netincreaseinborrowingsfromthe centralbank　　
Netincreaseinborrowingsfromother financialinstitutions　　
Cashreceivedfromreceiving insurancepremiumoftheoriginal insurancecontract　　
Netcashfromreceivingreinsurance premium　　
Netincreaseindepositsand investmentofinsuredpersons　　
Cashreceivedfrominterests,feesand commissions　　
Netincreaseinborrowedfunds　　
Netincreaseinrepurchasebusiness funds　　
Netcashreceivedfromvicariously tradedsecurities　　
Refundsoftaxes13,849,893.2227,319,712.52
Cashreceivedrelatingtoother operatingactivities68,913,611.71159,415,830.04
Subtotalofcashinflowfromoperating activities8,519,032,091.278,090,485,976.68
Cashpaidforpurchasedproductsand receivedservices4,327,566,145.674,048,517,085.76
Netincreaseinloansandadvancesto customers　　
Netincreaseindepositswiththe centralbankandotherfinancial institutions　　
Cashpaidforclaimsoforiginal insurancecontract　　
Netincreaseinlendingfunds　　
Cashpaidforinterests,feesand commissions　　
Cashpaidforpolicydividends　　
Cashpaidtoandonbehalfof employees834,643,059.83837,585,263.59
Cashpaidfortaxes598,115,079.74632,054,145.34
Cashpaidrelatedtootheroperating activities2,029,513,155.812,046,560,624.61
Subtotalofcashoutflowfromoperating activities7,789,837,441.057,564,717,119.30
Netcashflowfromoperatingactivities729,194,650.22525,768,857.38
II.Cashflowfrominvestmentactivities:　　
Cashreceivedfromreturnof investments3,068,000,000.001,541,285,887.67
Cashreceivedfromreturnon investments68,807,723.4971,392,261.71
Netcashreceivedfromdisposalof fixedassets,intangibleassetsandother long-termassets115,422.84499,866.54
Netcashreceivedfromdisposalof subsidiariesandotherbusinessentities　　
Cashesreceivedrelatedtoother investmentactivities1,521,578,517.693,217,561,206.77
Subtotalofcashinflowfrominvestment activities4,658,501,664.024,830,739,222.69
Cashpaidforpurchaseand constructionoffixedassets,intangible assetsandotherlong-termassets189,901,255.90183,507,049.24
Cashpaidtoinvestments4,157,997,278.40416,290,525.00
Netincreaseinpledgedloans　　
Netcashfromsubsidiariesandother operatingentities　　
Cashpaidrelatedtootherinvestment activities1,035,286,400.004,133,924,300.00
Subtotalofcashoutflowfrominvestment activities5,383,184,934.304,733,721,874.24
Netcashflowfrominvestmentactivities-724,683,270.2897,017,348.45
III.Cashflowfromfinancingactivities:　　
Cashfromacquiringinvestments6,156,179.60680,724.00
Including:Cashreceivedby subsidiariesfrominvestmentsof minorityshareholders　　
Cashfromacquiringdebts97,600,000.0083,812,523.35
Othercashesreceivedinrelationto financingactivities　500,000.00
Subtotalofcashinflowfromfinancing activities103,756,179.6084,993,247.35
Cashpaidforrepaymentsofdebts91,010,114.1281,000,000.00
Cashpaidfordistributionof dividends,profitsorinterestexpenses945,452,907.261,418,297,004.58
Including:Dividendsorprofitspaid bysubsidiariestominorityshareholders　　
Othercashespaidinrelationto financingactivities2,138,880.1411,909,239.62
Subtotalofcashoutflowfromfinancing activities1,038,601,901.521,511,206,244.20
Netcashflowfromfinancingactivities-934,845,721.92-1,426,212,996.85
IV.Effectofchangeinexchangerateon cashandcashequivalents-573,819.46-370,588.37
V.Netincreaseincashandcash equivalents-930,908,161.44-803,797,379.39
Plus:Openingbalanceofcashand cashequivalents1,518,303,556.891,878,166,358.09
VI.Closingbalanceofcashandcash equivalents587,395,395.451,074,368,978.70
(II)Relevantfinancialstatementitemsatthebeginningof2025whentheadjustmentsstipulatedinthenewaccountingstandardsapplyforthefirsttime（未完）
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