弘宇股份三季度业绩承压 净利同比降 22.31%，经营现金流净额告负

Core Viewpoint - The financial performance of Shandong Hongyu Precision Machinery Co., Ltd. has shown a decline in both quarterly and year-to-date results, indicating operational pressure amid industry fluctuations [2] Financial Performance - For the first three quarters of 2025, the company reported revenue of 243 million yuan, a decrease of 4.90% year-on-year; net profit attributable to shareholders was 11.89 million yuan, down 13.65% [2] - In Q3 alone, revenue was 69.83 million yuan, a slight decline of 0.27% year-on-year; net profit attributable to shareholders was 3.54 million yuan, a significant drop of 22.31% [2] - The company's net profit excluding non-recurring gains and losses was 2.44 million yuan, reflecting a year-on-year decrease of 27.82% [2] Financial Metrics - Financial expenses increased by 87.09% year-on-year, while credit impairment losses surged by 325.52%, primarily due to increased provisions for credit impairment and inventory write-downs [2] - Investment income rose by 80.86% year-on-year, partially offsetting the pressure on main business profits [2] Asset and Cash Flow Analysis - As of the end of Q3, total assets stood at 742 million yuan, with equity attributable to shareholders at 602 million yuan, indicating stable scale [3] - Cash and cash equivalents decreased by 34.39% from the beginning of the year to 53.39 million yuan, while receivables financing increased by 85.89% to 111 million yuan [3] - The net cash flow from operating activities for the first three quarters was -41.62 million yuan, a significant decrease of 390.30% year-on-year, attributed to an increase in notes received from sales [3]