Hengtong Logistics(SH:603223) Zhong Zheng Wang·2025-10-22 02:58Core Viewpoint - Hengtong Co., Ltd. reported significant growth in revenue and net profit for the first three quarters of 2025, indicating strong operational performance and a positive outlook for future growth [1][2]. Financial Performance - For the first three quarters of 2025, the company achieved a revenue of 1.05 billion yuan, with a net profit attributable to shareholders of 176 million yuan, representing a year-on-year increase of 78.33% [1]. - The net profit after deducting non-recurring items was 171 million yuan, up 77.10% year-on-year [1]. - Basic earnings per share reached 0.25 yuan, reflecting a growth of 78.57% [1]. - The weighted average return on equity was 4.56%, an increase of 1.92 percentage points compared to the previous year [1]. Quarterly Performance - In the third quarter of 2025, the company recorded a revenue of 381 million yuan, with a net profit attributable to shareholders of 76.57 million yuan, marking a year-on-year increase of 182.55% [1]. - The net profit after deducting non-recurring items for the third quarter was 76.05 million yuan, up 190.01% year-on-year [1]. - Basic earnings per share for the third quarter were 0.11 yuan, a growth of 175% [1]. - The weighted average return on equity for the third quarter was 1.97%, an increase of 1.24 percentage points year-on-year [1]. Business Overview - Hengtong Co., Ltd. operates in three main sectors: ports, logistics, and clean energy [2]. - The company leverages the Shandong Yulong Port to provide docking and cargo handling services for the Yulong Island refining and chemical industry park [2]. - The LNG transportation business is transitioning towards a light-asset operational model, enhancing business controllability [2]. - The clean energy segment encompasses the entire supply chain from upstream procurement to logistics and terminal services, including gas station operations [2]. Strategic Positioning - As a national-level large-scale petrochemical industrial base, the Yulong Petrochemical Industrial Park has a large planned production capacity and a complete industrial chain [2]. - Hengtong Co., Ltd. possesses a significant locational advantage as the only port facility on Yulong Island, with seven operational production berths [2]. - The ongoing capacity ramp-up of enterprises within the Yulong Industrial Park is expected to drive growth in port throughput and revenue for Hengtong Co., Ltd. [2].