安凯客车Q3实现营收8.54亿元，净亏损为2705.37万元

Core Insights - Ankai Bus reported a significant increase in revenue for Q3 2025, achieving 853,520,426.05 yuan, a growth of 56.21% year-on-year, while net profit attributable to shareholders was -27,053,744.71 yuan, a decline of 114.43% [2][3] - For the first nine months of 2025, the company recorded total revenue of 2,445,974,904.30 yuan, up 44.37% year-on-year, but net profit attributable to shareholders was -8,657,978.80 yuan, down 61.56% [2][3] Financial Performance - Revenue growth was primarily driven by an increase in sales volume, while net profit losses were constrained by costs and asset impairment [4] - Basic and diluted earnings per share for Q3 were both -0.03 yuan, a decrease of 192.15% year-on-year [2][3] - The weighted average return on equity was -3.13%, down 111.71 percentage points compared to the same period last year [2][3] Asset and Equity Changes - As of September 30, 2025, total assets amounted to 4,252,962,268.31 yuan, reflecting a growth of 17.55% from the end of the previous year [4] - Shareholders' equity decreased by 0.80% to 851,318,057.96 yuan compared to the end of the previous year [4] Cash Flow and Other Financial Metrics - Cash flow from operating activities showed a significant increase, with sales of goods and services generating cash up by 66.51% year-on-year [9] - The company experienced a 361.96% increase in asset impairment losses, primarily due to higher inventory write-downs [9] - Financial expenses decreased by 94.42%, attributed to increased interest income [9] Changes in Assets and Liabilities - Prepayments increased by 47.69% due to higher material payments, while other receivables decreased by 53.64% due to reduced national subsidies for new energy [5] - Inventory rose by 63.22% due to an increase in stock, and short-term borrowings increased by 62.48% due to more credit borrowings [5]