Wintime Energy Group (600157) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 was RMB 17.73 billion, down 20.77% year-over-year, with net profit attributable to shareholders at RMB 197.87 million, down 86.48% year-over-year.

• The decline in performance was mainly due to a significant drop in coking coal market prices compared to the same period last year.

Financial highlights

• Operating income for Q3 was RMB 7.05 billion, down 10.31% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 55.11 million, down 73.78% year-over-year.

• Basic and diluted EPS for Q3 were both RMB 0.0033, down 73.39% year-over-year.

• Operating cash flow for the first nine months was RMB 4.45 billion, down 7.51% year-over-year.

Outlook and guidance

• The company expects continued pressure on coal business profitability if coking coal prices remain low.