日久光电：前三季度实现营收5.01亿元 同比增长12.90%

Core Insights - The company, Rihou Optoelectronics, reported a steady growth in its operations for the third quarter of 2025, with significant improvements in key financial metrics, profitability, and cash flow, laying a solid foundation for annual performance growth [1][2] Financial Performance - For the first three quarters of 2025, the company achieved operating revenue of 501 million yuan, a year-on-year increase of 12.90% [1] - The net profit attributable to shareholders reached 76.91 million yuan, up 36.54% year-on-year, while the net profit after deducting non-recurring gains and losses was 74.39 million yuan, reflecting a 44.74% increase [1] - In the third quarter alone, operating revenue was 199 million yuan, growing by 21.15%, and net profit was 31.30 million yuan, an increase of 34.65% [1] Profitability and Cash Flow - The continuous improvement in profitability is attributed to the optimization of the company's main business structure and a steady recovery in product gross margins [1] - The net cash flow from operating activities reached 136 million yuan, a substantial increase of 57.18% year-on-year, indicating effective management of accounts receivable and cost control [1] - Basic earnings per share rose to 0.28 yuan, a 33.33% increase, while the weighted average return on equity improved to 7.48%, up 1.63% from the previous year [1] Asset and Capital Structure - As of the end of the reporting period, total assets amounted to 1.22 billion yuan, a growth of 9.83% since the beginning of the year, while equity attributable to shareholders increased by 12.18% to 1.09 billion yuan [2] - The debt-to-asset ratio decreased to 10.69%, indicating further optimization of the capital structure [2] - Short-term borrowings fell by 37.33% compared to the beginning of the year, and financial expenses decreased by 132.34%, reflecting improved capital management efficiency [2] Research and Development - The company increased its R&D investment, with expenses reaching 27.46 million yuan, a year-on-year growth of 18.80% [2] - Ongoing technological innovations in functional film materials and optical coatings are being pursued, along with the expansion of new product application scenarios [2] - The increase in management expenses is primarily due to higher share-based payment costs, demonstrating the company's commitment to enhancing its incentive mechanisms and strengthening its core team [2] Future Outlook - Overall, Rihou Optoelectronics is entering a new phase of high-quality development by optimizing cost structures, strengthening cash flow management, and increasing innovation investments [2] - Market analysts generally believe that with the launch of new functional film production lines and a recovery in downstream demand, the company's annual performance is expected to continue its positive growth trend [2]