Sunway(SH:603333) Xi Niu Cai Jing·2025-10-24 05:14Core Insights - Shangwei Co., Ltd. reported a significant decline in revenue and net profit for the first three quarters of 2025, with revenue at 945 million yuan, down 21.12% year-on-year, and a net loss of 25.69 million yuan, a decrease of 235.22% compared to the previous year [2][3][4] Financial Performance - For the third quarter of 2025, Shangwei Co. achieved revenue of 396 million yuan, representing a year-on-year decline of 15.40% [3] - The net profit attributable to shareholders for the third quarter was 5.93 million yuan, down 72.48% year-on-year [3] - The net profit after deducting non-recurring items for the third quarter was 5.31 million yuan, a decrease of 74.87% compared to the same period last year [3] Cost Management - The decline in net profit is primarily attributed to a decrease in operating revenue and a drop in gross profit margin [4] - Sales expenses decreased by 29.20%, management expenses by 4.22%, R&D expenses by 25.83%, and financial expenses by 10.61% during the reporting period [4] Company Background - Shangwei Co. was established in July 2003 and went public in 2012, focusing on the research, production, sales, and service of special cables [4] - In May of this year, the controlling shareholder changed from Li Guangsheng to Fuhua Tongda Chemical Co., Ltd., with the actual controller changing to Zhang Hua [4]