CBMT(SH:603099) Xin Lang Cai Jing·2025-10-29 00:27Financial Performance - In Q3 2025, the company achieved revenue of 401 million yuan, a year-over-year increase of 17.78%, and a net profit attributable to shareholders of 151 million yuan, up 19.43% year-over-year [1] - For the first three quarters of 2025, the company reported revenue of 636 million yuan, a year-over-year increase of 6.99%, and a net profit attributable to shareholders of 149 million yuan, up 1.05% year-over-year [1] - The company maintained good cost control, with a gross margin of 57.50% in Q3 2025, a slight decrease of 0.40 percentage points year-over-year [1] Cost Management - In Q3 2025, the company's selling and administrative expense ratios were 2.19% and 4.43%, respectively, showing year-over-year decreases of 0.19 and 0.13 percentage points [1] - For the first three quarters of 2025, the gross margin was 43.27%, down 2.45 percentage points year-over-year, while the selling and administrative expense ratios were 2.73% and 7.74%, with year-over-year changes of -0.06 and +0.59 percentage points [1] Customer Traffic Growth - The company experienced strong customer traffic growth during the summer, with July, August, and September visitor numbers reaching 810,200, 825,200, and 389,400, respectively, representing year-over-year increases of 37.8%, 14.9%, and 2% [2] - The total customer traffic for Q3 2025 was 2,024,800, reflecting a year-over-year increase of 19.96% [2] Future Outlook - The company is expected to benefit from the opening of the Shenbai High-speed Railway in September 2025, which will significantly shorten travel times for passengers from North China [2] - The second phase of the hot spring project is accelerating construction, with completion and operation expected in 2025 [2] - The company is projected to see net profits attributable to shareholders of 154 million, 186 million, and 220 million yuan for 2025-2027, corresponding to price-to-earnings ratios of 89x, 73x, and 62x [2]