Hangzhou Greatstar Industrial (002444) Q3 2025 earnings summary

Executive summary

• Operating revenue for Q3 2025 was RMB 4.13 billion, down 5.8% year-over-year, while year-to-date revenue reached RMB 11.16 billion, up 0.65% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 882 million, up 18.96% year-over-year; year-to-date net profit was RMB 2.16 billion, up 11.35% year-over-year.

• Net profit after deducting non-recurring items for Q3 was RMB 781 million, up 7.59% year-over-year.

• Basic and diluted EPS for Q3 were RMB 0.7387, up 18.97% year-over-year; year-to-date EPS was RMB 1.8043, up 11.36% year-over-year.

Financial highlights

• Net cash flow from operating activities for Q3 was RMB 1.61 billion, up 92.1% year-over-year.

• Total assets at quarter-end were RMB 23.25 billion, up 0.64% from year-end 2024.

• Equity attributable to shareholders increased 15.32% to RMB 18.92 billion.

• Weighted average ROE for the period was 12.20%.

Outlook and guidance

• Increased capital expenditures for the Southeast Asia manufacturing base signal ongoing expansion.