东土科技前三季度营收5.01亿元同比降11.72%，归母净利润-1.48亿元同比增1.32%，毛利率下降1.95个百分点

Core Insights - Dongtu Technology reported a revenue of 501 million yuan for the first three quarters of 2025, a year-on-year decrease of 11.72% [1] - The company recorded a net profit attributable to shareholders of -148 million yuan, a year-on-year increase of 1.32% [1] - The basic earnings per share stood at -0.24 yuan [1] Financial Performance - The gross profit margin for the first three quarters was 40.67%, down 1.95 percentage points year-on-year [2] - The net profit margin was -30.28%, a decrease of 2.97 percentage points compared to the same period last year [2] - In Q3 2025, the gross profit margin improved to 47.71%, an increase of 7.34 percentage points year-on-year and 9.49 percentage points quarter-on-quarter [2] - The net profit margin for Q3 was -53.27%, down 14.85 percentage points year-on-year and 36.76 percentage points quarter-on-quarter [2] Cost Structure - Total operating expenses for the period were 364 million yuan, a decrease of 53.42 million yuan year-on-year [2] - The expense ratio was 72.69%, down 0.89 percentage points from the previous year [2] - Sales expenses decreased by 8.78%, management expenses decreased by 5.46%, and R&D expenses decreased by 22.68%, while financial expenses increased by 10.27% [2] Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 58,700, a decrease of 6,241 or 9.62% from the end of the previous half [3] - The average market value of shares held per shareholder increased from 202,300 yuan to 271,000 yuan, a growth of 34.01% [3] Company Overview - Dongtu Technology, established on March 27, 2000, and listed on September 27, 2012, is located in Beijing and specializes in the R&D, production, and sales of hardware devices in the industrial control network field [3] - The main business revenue composition includes industrial network communication (68.97%), intelligent controllers and solutions (20.05%), and industrial operating systems and related software services (10.98%) [3] - The company is classified under the communication equipment sector and is involved in various concept sectors including mid-cap, IoT, aerospace and military, nuclear power, and margin financing [3]