Eastroc Beverage(SH:605499) Xin Lang Cai Jing·2025-10-26 00:27Core Insights - The company reported strong financial performance for the first three quarters of 2025, with revenue of 16.844 billion yuan, a year-on-year increase of 34.13%, and a net profit attributable to shareholders of 3.761 billion yuan, up 38.91% [1] - The third quarter of 2025 saw revenue of 6.107 billion yuan, reflecting a year-on-year growth of 30.36%, and a net profit of 1.386 billion yuan, which is a 41.91% increase compared to the same period last year [1] Revenue Breakdown - In Q3 2025, the revenue from energy drinks, electrolyte drinks, and other beverages was 4.203 billion yuan, 1.354 billion yuan, and 0.547 billion yuan respectively, showing year-on-year growth of 15%, 84%, and 96% [2] - Regional performance in Q3 2025 included revenue of 1.339 billion yuan from Guangdong and 0.403 billion yuan from Guangxi, with year-on-year increases of 2% and 8% respectively. Other regions such as North China and East China saw significant growth, with increases of 73% and 33% respectively [2] Profitability and Efficiency - The gross margin and net margin for Q3 2025 were 45.21% and 22.68%, showing a slight decrease in gross margin by 0.60 percentage points but an increase in net margin by 1.83 percentage points year-on-year [3] - The company has optimized operational efficiency, with sales, management, R&D, and financial expense ratios at 15.26%, 2.54%, 0.31%, and -0.16% respectively, indicating a focus on precise expense allocation as the company scales [3] Future Projections - The company forecasts revenues of 20.78 billion yuan, 25.38 billion yuan, and 30.07 billion yuan for 2025 to 2027, representing year-on-year growth rates of 31.2%, 22.1%, and 18.5% respectively. Net profit is expected to reach 4.45 billion yuan, 5.35 billion yuan, and 6.35 billion yuan, with growth rates of 33.7%, 20.2%, and 18.8% [3]