股市必读：中衡设计三季报 - 第三季度单季净利润同比增长75.09%

Core Viewpoint - The financial performance of Zhongheng Design (603017) shows a decline in revenue and net profit for the third quarter of 2025, indicating potential challenges ahead for the company [3][4]. Trading Information Summary - As of October 28, 2025, Zhongheng Design's stock closed at 10.1 yuan, down 3.53%, with a turnover rate of 5.0% and a trading volume of 138,000 shares, amounting to a transaction value of 140 million yuan [1]. - On the same day, the net outflow of main funds was 6.251 million yuan, accounting for 4.46% of the total transaction value, while retail investors saw a net inflow of 2.0514 million yuan, representing 1.46% of the total transaction value [1][4]. Shareholder and Capital Changes - As of September 30, 2025, the number of shareholders decreased to 21,500, a reduction of 6,401 shareholders or 22.93% compared to June 30, 2025. The average shareholding per account increased from 9,951 shares to 12,800 shares, with an average market value of 132,200 yuan [2][4]. Financial Performance Highlights - For the third quarter of 2025, Zhongheng Design reported a main revenue of 777.85 million yuan, a year-on-year decrease of 15.36%. The net profit attributable to shareholders was 56.27 million yuan, down 15.85% year-on-year [3][4]. - The third quarter alone saw a main revenue of 257.32 million yuan, a year-on-year increase of 1.99%, but a net profit of -0.10 million yuan, which is a 75.09% increase year-on-year [3][4]. - The company’s debt ratio stood at 55.77%, with investment income of 7.53 million yuan and financial expenses of 4.14 million yuan, resulting in a gross profit margin of 26.31% [3]. Cash Flow and Non-Recurring Items - The net cash flow from operating activities for the first three quarters of 2025 was 128.12 million yuan, reflecting a year-on-year increase of 63.35%, attributed to better cash expenditure control and the unfreezing of previously frozen funds [3][4]. - Non-recurring gains and losses included a loss from the disposal of non-current assets of 397,194.74 yuan and government subsidies of 86,341.94 yuan [5].