SUPCON Technology (688777) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 was RMB 5.65 billion, down 10.78% year-over-year.

• Net profit attributable to shareholders for the same period was RMB 431.61 million, a decrease of 39.78% year-over-year.

• The company accelerated industrial AI business, with TPT model and robotics achieving commercial scale.

Financial highlights

• Q3 revenue: RMB 1.82 billion, down 12.52% compared to Q3 2024.

• Q3 net profit attributable to shareholders: RMB 77.53 million, down 61.25% year-over-year.

• Q3 basic and diluted EPS: RMB 0.10, down 61.54% year-over-year.

• Gross margin and operating profit both declined significantly.

• R&D investment for the first nine months: RMB 653.55 million, accounting for 11.56% of revenue.

Outlook and guidance

• Industrial AI and TPT model businesses are expected to continue scaling, with ARR from software and robotics contributing to recurring revenue.