FAWER(SZ:000030) Xin Lang Cai Jing·2025-10-28 10:15Core Viewpoint - Fu'ao Co., Ltd. reported a slight increase in revenue for the first three quarters of 2025, but a decline in net profit, indicating mixed financial performance [1][2]. Financial Performance - The company's revenue for the first three quarters of 2025 was 12.143 billion yuan, a year-on-year increase of 5.50% [1]. - The net profit attributable to shareholders was 440 million yuan, a year-on-year decrease of 0.92% [1]. - The non-recurring net profit was 405 million yuan, showing a year-on-year increase of 8.42% [1]. - Basic earnings per share were 0.26 yuan [2]. Profitability Metrics - The gross profit margin for the first three quarters was 11.45%, down 0.37 percentage points year-on-year [2]. - The net profit margin was 4.81%, a decrease of 0.43 percentage points compared to the same period last year [2]. - In Q3 2025, the gross profit margin was 11.52%, down 0.48 percentage points year-on-year and down 0.28 percentage points quarter-on-quarter [2]. - The net profit margin for Q3 was 4.34%, a decline of 0.84 percentage points year-on-year and 0.46 percentage points quarter-on-quarter [2]. Expense Management - Total operating expenses for Q3 were 1.163 billion yuan, a decrease of 30.43 million yuan year-on-year [2]. - The expense ratio was 9.57%, down 0.79 percentage points year-on-year [2]. - Sales expenses decreased by 25.65% year-on-year, while management expenses decreased by 0.90% [2]. - R&D expenses increased by 6.71% year-on-year, and financial expenses decreased by 11.70% [2]. Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 29,900, an increase of 2,767 or 10.18% from the end of the previous half [2]. - The average market value per shareholder decreased from 372,800 yuan at the end of the previous half to 323,400 yuan, a decline of 13.25% [2]. Company Overview - Fu'ao Co., Ltd. is located in Changchun, Jilin Province, and was established on October 6, 1988, with its listing date on September 29, 1993 [3]. - The company specializes in the R&D, design, manufacturing, sales, and after-sales service of automotive parts [3]. - The main business revenue composition includes: chassis systems (48.85%), fasteners and others (18.73%), automotive electronic systems (15.62%), thermal systems (8.96%), engine accessory systems (7.98%), braking and transmission systems (3.40%), and steering and safety systems (1.86%) [3].