物产环能：前三季度净利润同比下降15.1%

Core Insights - The company reported a significant decline in both revenue and net profit for the third quarter of 2025 compared to the same period last year [1] - The year-to-date financial performance also shows a downward trend in revenue and net profit for the first three quarters of 2025 [1] Financial Performance - Third quarter revenue was 8.557 billion, a year-on-year decrease of 22.38% [1] - Net profit for the third quarter was 150 million, down 13.32% year-on-year [1] - Year-to-date revenue for the first three quarters reached 26.979 billion, reflecting a 12.84% decline compared to the previous year [1] - Net profit for the first three quarters was 453 million, a decrease of 15.1% year-on-year [1] - Basic earnings per share stood at 0.81 yuan [1] Revenue Analysis - The company experienced a total revenue decrease of 3.975 billion compared to the same period last year [1] - Revenue from coal sales increased by 2.058 billion due to higher sales volume [1] - However, a decline in coal prices led to a revenue reduction of 6.057 billion [1] - Revenue changes from combined heat and power, renewable energy, and other businesses contributed an increase of 24 million [1]