英维克：前三季度营收突破40亿 净利增速低于营收

Core Viewpoint - The company Invec reported a significant increase in revenue and net profit for the first three quarters of 2025, driven primarily by the growth in revenue from temperature control energy-saving products for data centers and cabinets [1] Financial Performance - Revenue for the first three quarters of 2025 reached 4.026 billion yuan, representing a year-on-year increase of 40.19% [1] - Net profit attributable to shareholders was 399 million yuan, showing a year-on-year growth of 13.13% [1] - The increase in revenue was mainly due to higher sales of temperature control energy-saving products [1] Expense Analysis - The growth in net profit was lower than revenue growth, primarily due to a significant rise in sales expenses, R&D expenses, and credit impairment losses [1] - Sales expenses amounted to 159 million yuan, an increase of 38.66% year-on-year [1] - R&D expenses reached 297 million yuan, reflecting a year-on-year increase of 31.36% [1] - Financial expenses surged by 675.79% year-on-year, mainly due to a decrease in exchange gains [1] Cash Flow - The net cash flow from operating activities for the first three quarters was -319 million yuan, attributed to increased purchases of goods, service acceptance, and employee compensation expenses [1]