瓦轴B：2025年第三季度报告（英文版）

TheThirdQuarterlyReportfor2025 TheCompanyandwholemembersoftheBODguaranteethattheinformationdisclosedistrue,accurateand complete,and there are no any fictitious records,misleading statements orimportantomissions. ImportantContentNotice: 1.The Board of Directors,all directors,and senior management warrant the truthfulness,accuracy,andcompletenessofthequarterlyreport,affirmthattherearenofalserecords,misleadingstatements,ormaterialomissions,andassumeindividualandjointlegalliabilities. 2.Thecompany's legal representative,the personin charge ofaccounting operations,andtheheadoftheaccountingdepartment(ortheaccountingsupervisor)declare:Theyguaranteethetruthfulness,accuracy,andcompletenessofthefinancialinformationinthequarterlyreport. 3.Whetherthefinancialaccountingreportforthethirdquarterhasbeenaudited.□YesNo I.Mainfinancialdata (i)Mainaccountingdataandfinancialindexes Whetherithasretroactiveadjustmentorre-statementonpreviousaccountingdataornotYesNoReasonsforretrospectiveadjustmentorrestatementChangeinaccountingpolicies ReasonsforChangesinAccountingPoliciesandCorrectionofAccountingErrors Implementationof the provisions in"Accounting Standards for Business Enterprises Interpretation No.18"regarding theaccountingtreatmentofwarranty-typequalityassurancesthatdonotconstituteseparateperformanceobligations. TheMinistryofFinanceissued"AccountingStandardsforBusinessEnterprisesInterpretationNo.18"(Caikuai[2024]No.24,hereinafterreferredtoas"InterpretationNo.18")onDecember6,2024.Thisinterpretationiseffectivefromthedateofissuanceandallowsenterprisestoapplyitinadvancefromtheyearofrelease. InterpretationNo.18stipulatesthat,whenaccountingforestimatedliabilitiesarisingfromwarranty-typequalityassurancesthatdonotconstituteseparateperformanceobligations,enterprisesshall,inaccordancewiththerelevantprovisionsof"AccountingStandardsforBusinessEnterprisesNo.13-Contingencies,"debitaccountssuchas"CostofMainBusiness"and"CostofOtherOperations,"andcreditthe"EstimatedLiabilities"account.Correspondingly,theseamountsshallbepresentedinthe"OperatingCosts"lineitemintheincomestatementandinitemssuchas"OtherCurrentLiabilities,""CurrentPortionofNon-CurrentLiabilities,"and"EstimatedLiabilities"inthebalancesheet. Whenanenterpriseinitiallyappliestheprovisionsofthisinterpretation,iftheoriginallyrecognized warranty-typequalityassurancewas recorded in"Selling Expenses,"it shall be retrospectively adjusted as a change in accounting policy.TheadjustmentsmadebytheCompanyfortheaccountingtreatmentofwarranty-typequalityassurancesthatdidnotconstituteseparateperformanceobligationsfortheperiodJanuarytoSeptember2024areasfollows: Intheconsolidatedfinancialstatements,sellingexpensesofRMB6,040,620.00werereclassifiedtooperatingcosts.Intheparentcompany'sfinancialstatements,sellingexpensesofRMB6,031,357.40werereclassifiedtooperatingcosts. (ii)Itemsandamountsofnon-recurringprofit(gains)/losses Applicable□Notapplicable UNIT:yuan Thecompanyhasnootherspecificcircumstancesthatmeetthedefinitionofnon-recurringgainsandlosses. Astatementondefiningthenon-recurringgainsandlossesitemslistedinthe"ExplanatoryAnnouncementonInformationDisclosureofCompaniesOfferingSecuritiestothePublicNo.1-Non-recurringGainsandLosses"asrecurringgainsandlossesitems ApplicableNotapplicable Thecompanydoesnotdefinethenon-recurringgainsandlossesitemslistedinthe"ExplanatoryAnnouncementNo.1onInformationDisclosureofCompaniesOfferingSecuritiestothePublic-Non-recurringGainsandLosses"asrecurringgainsandlossesitems. (iii)Particularsaboutchangesinitemsofmainaccountingdataandfinancialindexandexplanationsofreasons Applicable□Notapplicable Unit:tenthousandyuan II.ShareholdersInformation (i)Totalnumberofcommonshareholdersandpreferenceshareholderswithvotingrightsrecoveredandtoptencommonshareholders Unit:Share unrestrictedtradablesharesparticipatinginthelendingofsharesthroughthesecuritieslendingandborrowingbusiness □ApplicableNotapplicable Thetop10shareholdersandthetop10shareholdersofunrestrictedtradableshareshavechangedcomparedwiththeprevious periodduetothereasonsoflending/returningthroughthesecuritieslendingandborrowingsystem □ApplicableNotapplicable (ii)Totalshareholderswithpreferredstockheldandsharesheldbytoptenshareholderswithpreferredstockheld □Applicable√Notapplicable III.Othersignificantevents ApplicableNotapplicable Duringthereportingperiod,thenegativeimpactofthecompany'sdesignationontheU.S.SDNListhasbecomeincreasinglyapparentandcontinuestointensify,placinggreaterpressureonbothitsoperationsandfinancingenvironment.Asaresultofthesanctions,the constraints on the company's financing channels have proven difficult to alleviate effectively.In addition,procurementordersfromcertaindomesticandinternationalcustomershavedeclined,andsomecooperativerelationshipshaveevenbeenterminated,posingongoingchallengestothecompany'sbusinessexpansionandrevenuestability.Despiteactivelyimplementingvariouscountermeasures—suchasexploringnewcustomerbases,improvingproductgrossmargins,andseekingsupportfo