NSFOCUS (300369) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months reached ¥1,280 million, up 0.47% year-over-year, with Q3 revenue at ¥479 million, up 1.22% from the same quarter last year.

• Net loss attributable to shareholders narrowed to ¥196.1 million for the nine months, a 39.85% improvement year-over-year; Q3 net loss was ¥24.6 million, improving 65.54% year-over-year.

• Excluding non-recurring items, net loss was ¥210.8 million for the nine months, a 38.3% improvement year-over-year.

Financial highlights

• Basic and diluted EPS for the nine months were -0.2453, improving 39.86% year-over-year.

• Operating cash flow for the nine months was ¥69.7 million, down 22.23% year-over-year.

• Total assets at period end were ¥4,381 million, down 5.03% from the previous year-end.

• Shareholders’ equity was ¥2,455 million, down 3.61% from year-end.

Segment performance

• R&D capitalization increased significantly, with development expenditures rising 956.7% to ¥105.3 million due to new projects.

• Inventory increased 35.51% to ¥105.2 million, reflecting higher stocking.