百利天恒跌2.01%，成交额1.09亿元，主力资金净流出1287.51万元

Core Viewpoint - Baili Tianheng's stock price has experienced significant fluctuations, with a year-to-date increase of 80.92% but a recent decline in the last five and twenty trading days [1][2]. Financial Performance - For the period from January to September 2025, Baili Tianheng reported a revenue of 2.066 billion yuan, a year-on-year decrease of 63.52% [2]. - The company recorded a net profit attributable to shareholders of -495 million yuan, representing a year-on-year decrease of 112.16% [2]. Stock Market Activity - As of October 28, Baili Tianheng's stock price was 346.88 yuan per share, with a market capitalization of 143.218 billion yuan [1]. - The stock experienced a trading volume of 1.09 billion yuan, with a turnover rate of 0.30% [1]. - The net outflow of main funds was 12.8751 million yuan, with significant selling pressure observed [1]. Shareholder Structure - As of September 30, 2025, the number of shareholders increased by 25.08% to 5,979, while the average circulating shares per person decreased by 20.05% to 17,208 shares [2][3]. - Major shareholders include various funds, with notable reductions in holdings by several institutional investors [3].