红旗连锁：前三季度扣非净利3.68亿元 同比增长3.96%

Core Viewpoint - Hongqi Chain (002697) reported a decline in revenue and net profit for the first three quarters of 2025, but showed growth in non-recurring net profit and improved operational efficiency through digitalization [1] Financial Performance - The company achieved an operating income of 7.108 billion yuan, a year-on-year decrease of 8.48% [1] - Net profit for the period was 383 million yuan, down 1.89% year-on-year [1] - The non-recurring net profit was 368 million yuan, reflecting a year-on-year increase of 3.96% [1] Operational Efficiency - Single-store sales remained stable, which helped offset some impacts from store adjustments [1] - The overall gross profit margin was 29.36%, showing a slight increase of 0.23% year-on-year [1] - Digital operations contributed to a flatter organizational structure, resulting in a year-on-year decrease of 11.53% in period expenses [1]