恒通股份：第三季度净利润同比增长182.55%

Core Viewpoint - Hengtong Co., Ltd. reported a significant decline in revenue for Q3 2025, while net profit showed substantial growth, indicating a strategic shift in operations and market conditions [1] Financial Performance - Q3 revenue was 381 million yuan, a year-on-year decrease of 26.83% [1] - Net profit for Q3 reached 76.568 million yuan, a year-on-year increase of 182.55% [1] - Revenue for the first three quarters was 1.05 billion yuan, down 39.29% year-on-year [1] - Net profit for the first three quarters was 176 million yuan, up 78.33% year-on-year [1] - Basic earnings per share for the first three quarters were 0.25 yuan [1] Business Strategy - The decline in revenue is attributed to strategic adjustments in the LNG business, shifting to a light asset operation model [1] - The company plans to dispose of LNG vehicles starting in the second half of 2024 [1] - A structural adjustment in the LNG trading and transportation business has led to a significant reduction in integrated operations, transitioning towards a focus on transportation services [1] Operational Developments - The increase in net profit is primarily due to the operational commencement of a new terminal at Yulong Port, which has gradually increased its operational volume [1]