Heilongjiang Agriculture Company (600598) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 was RMB 1.09 billion, down 13.14% year-over-year; YTD revenue was RMB 4.11 billion, down 5.73% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 372 million, up 2.34% year-over-year; YTD net profit was RMB 1.36 billion, up 0.70% year-over-year.

• Basic and diluted EPS for Q3 were RMB 0.209, up 1.95% year-over-year; YTD EPS was RMB 0.763, up 0.66% year-over-year.

Financial highlights

• Gross margin improved as cost reductions outpaced revenue decline; operating costs for YTD were RMB 2.84 billion, down from RMB 3.02 billion year-over-year.

• Operating cash flow for the first nine months was RMB 2.99 billion, up 0.54% year-over-year.

• Total assets at Q3-end were RMB 10.75 billion, up 19.72% from year-end 2024.

• Shareholders’ equity increased to RMB 8.20 billion, up 5.14% from year-end 2024.

Key financial ratios and metrics

• Weighted average ROE for Q3 was 4.75%, up 0.05 percentage points year-over-year.

• Net margin for YTD was approximately 32.9%.

• Basic and diluted EPS for YTD were both RMB 0.763.