兴通股份：前三季度净利润同比下降30.31%

Core Insights - The company reported a third-quarter revenue of 396 million yuan, representing a year-on-year increase of 1.43%, while net profit decreased by 40.49% to 58.11 million yuan [1] - For the first three quarters, the company achieved a revenue of 1.183 billion yuan, up 1.8% year-on-year, but net profit fell by 30.31% to 194 million yuan, with basic earnings per share at 0.65 yuan [1] Revenue and Profit Analysis - The decline in net profit is attributed to insufficient operating rates at downstream refineries, lower freight rates compared to the previous year, and a high base from international business last year [1] - The increase in operational costs is driven by the expansion of the fleet, an increase in personnel, and rising employee stock incentive amortization expenses [1]