Avary Holding (002938) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months reached ¥26.86 billion, up 14.34% year-over-year, with net profit attributable to shareholders at ¥2.41 billion, up 21.95% year-over-year.

• Q3 revenue grew 1.15% year-over-year, but net profit attributable to shareholders declined 1.30% compared to the same quarter last year.

• Non-recurring gains contributed ¥162.84 million to net profit for the first nine months.

Financial highlights

• Gross margin improved as operating income outpaced cost growth, with operating profit for the first nine months at ¥2.81 billion.

• Basic and diluted EPS for the first nine months were ¥1.04, up 20.93% year-over-year.

• Net cash flow from operating activities was ¥4.26 billion, up 45.93% year-over-year.

• Total assets at period end were ¥47.93 billion, up 7.59% from the previous year-end.

Outlook and guidance

• Management highlighted increased inventory to meet customer demand and noted higher short-term borrowings to support operations.