【聚看点】*ST返利：前三季度净亏损4478.05万元

Core Insights - *ST Fanli (600228) reported a significant increase in revenue for Q3 2025, with a total of 129 million yuan, representing a year-on-year growth of 131.29% [2] - Despite the revenue growth, the company faced a net loss of 11.5 million yuan in Q3 2025 [2] - For the first three quarters of 2025, the total revenue reached 315 million yuan, showing a year-on-year increase of 63.67%, while the net loss amounted to 44.78 million yuan [2] Revenue Breakdown - The growth in revenue was driven by the company's guiding business, advertising business, and other operations, primarily in e-commerce retail [2] - Increased market spending and higher labor costs compared to the previous year contributed to the financial losses [2]