Sinostar PEC (C9Q) Q3 2025 earnings summary

Executive summary

• 3Q25 revenue was RMB677.22m, down 39.8% YoY; gross profit was RMB12.48m and net loss was RMB40.63m, versus net profit of RMB26.58m in 3Q24.

• 9M25 revenue fell 18.4% YoY to RMB3.318bn; net profit declined 91.5% to RMB17.18m, reflecting lower gross profit and planned-maintenance shutdown costs.

Financial highlights

• 9M25 gross profit was RMB114.08m, down 62.1% YoY; profit before tax fell 87.5% to RMB32.35m.

• 9M25 administrative costs rose to RMB65.85m from RMB25.98m, including RMB31.80m of shutdown costs; distribution costs increased to RMB12.83m from RMB6.41m.

• Finance costs declined to RMB7.84m from RMB17.19m following repayments of borrowings.

Outlook and guidance

• Market demand is expected to remain the primary influence on performance; the outlook is cautious yet optimistic, with prudent operations emphasized.

• Priorities include developing higher-value products, adjusting product mix, expanding regional and overseas markets, and maintaining safe, stable operations.