Rigol Technologies (688337) Q3 2025 earnings summary

Executive summary

• 9M 2025 revenue rose 11.68% YoY to RMB 597.39m, while net income fell 32.38% to RMB 40.66m; Q3 revenue grew 6.44% YoY and net income declined 53.43%.

• Q3 revenue increased 29.52% QoQ to RMB 242.42m, and net income rose 96.62% QoQ to RMB 24.45m.

Financial highlights

• 9M operating profit was RMB 36.92m vs RMB 49.92m YoY; profit before tax was RMB 36.77m vs RMB 49.31m.

• 9M adjusted net income was RMB 2.26m, down 89.85% YoY; Q3 adjusted net income was RMB 12.78m, down 68.41%.

• 9M non-recurring gains net of tax and minority interest totaled RMB 38.41m; investment income was RMB 22.68m and fair-value gains were RMB 17.90m.

Outlook and guidance

• RSA6000 high-end microwave and RF instrument, launched in September, generated RMB 9.92m in sales; it is expected to support future revenue growth.