XGD(SZ:300130) Xin Lang Cai Jing·2025-10-27 12:23Core Viewpoint - New Guodu's Q3 2025 financial report shows a decline in revenue but a significant increase in net profit, indicating mixed performance in the electronic payment industry [1][2]. Financial Performance - The company's revenue for the first three quarters of 2025 was 2.343 billion yuan, a year-on-year decrease of 4.15% [1]. - The net profit attributable to shareholders was 408 million yuan, a year-on-year increase of 37.10% [1]. - The basic earnings per share were 0.72 yuan [1]. - The gross profit margin for the first three quarters was 35.27%, down 6.73 percentage points year-on-year [2]. - The net profit margin was 17.29%, up 5.23 percentage points compared to the same period last year [2]. Quarterly Insights - In Q3 2025, the gross profit margin was 37.54%, a year-on-year decrease of 2.32 percentage points but an increase of 5.64 percentage points quarter-on-quarter [2]. - The net profit margin for Q3 was 16.08%, showing a significant year-on-year increase of 33.62% and a quarter-on-quarter increase of 1.78 percentage points [2]. Expense Management - Total operating expenses for the period were 444 million yuan, a decrease of 36.82 million yuan year-on-year [2]. - The expense ratio was 18.95%, down 0.72 percentage points from the previous year [2]. - Sales expenses decreased by 28.46%, while management and R&D expenses increased by 1.05% and 3.86%, respectively [2]. Shareholder Dynamics - As of the end of Q3 2025, the total number of shareholders was 52,300, a decrease of 31,000 or 37.23% from the end of the previous half [2]. - The average market value per shareholder increased from 241,800 yuan to 299,600 yuan, a growth of 23.94% [2]. Company Overview - Shenzhen New Guodu Co., Ltd. specializes in electronic payment services, providing payment acquisition services and selling electronic payment terminals [3]. - The company integrates technologies such as biometrics, big data, blockchain, and AI to offer various digital upgrade services [3]. - The main revenue sources include payment acquisition and value-added services (61.85%), electronic payment products (35.24%), and other services [3].