Ge Long Hui A P P·2025-10-23 07:50Core Viewpoint - Dongwu Securities report indicates that Tonghuashun's net profit attributable to shareholders increased by 85% year-on-year to 1.21 billion yuan in the first three quarters, with a single-quarter net profit of 700 million yuan in Q3 2025, reflecting a 144% year-on-year growth [1] Industry Summary - The capital market's activity level remains high, restoring investor confidence and enhancing the demand for financial information services [1] - The overall market environment is favorable, contributing to the growth of various business revenues [1] Company Summary - The company has increased its R&D investment in the AI sector, continuously optimizing products and user experience [1] - User engagement on the company's website and app has improved, leading to increased advertising and brand promotion investments from financial institutions and non-financial clients such as consumer goods and technology sectors [1] - The company's advertising and internet promotion service revenue has seen significant growth due to these developments [1] - The company is building a new ecosystem of AI + finance, solidifying its leading position in financial technology [1] - The previous profit forecast is maintained, and a "buy" rating is upheld based on the positive outlook for capital market activity and revenue growth across various business segments [1]