华宇软件前三季度营收9.09亿元同比降3.48%，归母净利润-1.38亿元同比增47.70%，毛利率下降1.36个百分点

Core Insights - HUAYU Software reported a revenue of 909 million yuan for the first three quarters of 2025, a year-on-year decrease of 3.48% [1] - The company recorded a net profit attributable to shareholders of -138 million yuan, an increase of 47.70% year-on-year [1] - The basic earnings per share stood at -0.17 yuan [1] Financial Performance - The gross profit margin for the first three quarters of 2025 was 31.90%, down 1.36 percentage points year-on-year [2] - The net profit margin was -16.96%, an increase of 12.93 percentage points compared to the same period last year [2] - In Q3 2025, the gross profit margin was 33.28%, a year-on-year decrease of 3.90 percentage points, but an increase of 1.05 percentage points from the previous quarter [2] - The net profit margin for Q3 was -24.40%, up 15.20 percentage points year-on-year but down 14.21 percentage points quarter-on-quarter [2] Expense Management - Total operating expenses for the period were 459 million yuan, a decrease of 149 million yuan year-on-year [2] - The expense ratio was 50.53%, down 14.01 percentage points from the same period last year [2] - Sales expenses decreased by 21.67%, management expenses by 24.66%, R&D expenses by 19.18%, and financial expenses by 61.72% year-on-year [2] Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 50,200, a decrease of 6,323 from the end of the previous half-year, representing an 11.18% decline [3] - The average market value per shareholder increased from 117,200 yuan to 125,800 yuan, a growth of 7.35% [3] Company Overview - HUAYU Software, established on June 18, 2001, is located in Tsinghua Science Park, Beijing, and was listed on October 26, 2011 [3] - The company's main business includes the development and service of e-government systems and educational information systems, with revenue composition as follows: application software 39.87%, operation and maintenance services 38.47%, and system construction services 21.66% [3] - The company is classified under the computer-IT services industry and is involved in various concept sectors including food testing, data rights confirmation, small-cap, data elements, and smart healthcare [3]