HOLSIN(SH:603909) Xin Lang Cai Jing·2025-10-28 06:27Core Insights - The company achieved a revenue of 5.207 billion yuan in the first three quarters of 2025, representing a year-on-year growth of 10.55% [1] - The net profit attributable to shareholders was 77 million yuan, with a year-on-year increase of 21.20% [1] - The company experienced a slight decline in profitability, with a comprehensive gross margin of 5.23%, down 0.20 percentage points year-on-year [2] Revenue and Profitability - The company's revenue in Q3 was 1.814 billion yuan, showing a year-on-year growth of 16.37%, primarily driven by the expansion of construction business scale [2] - The net profit margin for the first three quarters was 1.47%, an increase of 0.13 percentage points year-on-year, while the net profit margin after deducting non-recurring items was 1.37%, also up by 0.13 percentage points [2] Cash Flow and Financial Health - The net cash inflow from operating activities for the first three quarters was 67 million yuan, a decrease of 54 million yuan year-on-year, with a cash collection rate of 90.49%, up 4.30 percentage points [3] - The company's asset-liability ratio increased by 5.15 percentage points year-on-year to 76.96%, while the accounts receivable turnover days decreased by 3.17 days to 53.94 days [3] Business Expansion and Contracts - The company signed new contracts worth 10.747 billion yuan in the first three quarters, a significant year-on-year increase of 125.48%, with the construction business showing a remarkable growth of 149.57% in new contracts [4] - The company actively expanded its land acquisition, totaling 40.8 billion yuan in the first nine months of 2025, a year-on-year increase of 3.6% [3] Strategic Initiatives - The company is focusing on enhancing its main business through capital operations and strategic acquisitions, as highlighted in the 2024 annual shareholder meeting [4] - The Xiamen State-owned Assets Supervision and Administration Commission's emphasis on value management may accelerate the company's main business transformation and upgrade [4]