Almaden reports significant Q3 2025 revenue decline and net loss

Changzhou Almaden reported a 28.52% year-over-year decline in Q3 2025 operating revenue, totaling 497,744,812.30 yuan. The net profit attributable to shareholders also fell by 8.87%, resulting in a loss of 43,746,098.03 yuan for the quarter. For the nine months ending September 30, 2025, total operating revenue was 1,580,390,561.55 yuan, a 35.42% decrease compared to the same period last year, with the net loss attributable to shareholders widening by 123.67% to 59,570,415.72 yuan. The company attributed the revenue decline to the impact of the photovoltaic market, leading to a significant drop in solar glass sales prices and volumes.

Operating costs for the nine months decreased by 36.47% year-over-year. However, management expenses surged by 82.09%, primarily due to the adjustment of production line costs as the company optimized its operations. Financial expenses also increased by 81.40%, driven by higher bank borrowings. Conversely, investment income saw a 574.73% increase.

The company's cash flow from operating activities for the nine-month period decreased by 68.64% to 110,523,334.41 yuan, mainly due to reduced collections from goods sold. Total assets increased by 6.47% to 5,746,614,011.87 yuan, while shareholders' equity decreased by 5.69% to 2,832,712,824.77 yuan compared to the beginning of the year.