BLT(SH:688333) Zheng Quan Shi Bao Wang·2025-10-29 03:15Core Insights - The company, Plater (688333), reported significant growth in revenue and net profit for the first three quarters of 2025, showcasing its leading position and growth potential in the metal additive manufacturing sector [1][2] Financial Performance - For the first three quarters, the company achieved a revenue of 1.161 billion yuan, a year-on-year increase of 46.47% [1] - In Q3 alone, revenue reached 494 million yuan, marking a substantial year-on-year growth of 120.94% [1] - The total profit for the year-to-date was 157 million yuan, reflecting a remarkable year-on-year increase of 718.81% [1] - The net profit attributable to shareholders was 156 million yuan, with a year-on-year growth of 234.83% [1] - Basic earnings per share were 0.5742 yuan, representing a year-on-year increase of 235.20% [1] Business Development - The company attributed its substantial growth to the continuous expansion into new application areas and increased efforts in the civilian market, particularly in customized 3D printing products [1][2] - The successful transition of technology and service advantages from high-end manufacturing sectors, such as aerospace, to broader civilian markets indicates an ongoing optimization of the business structure [1][2] Research and Development - The company maintained a high level of R&D investment, totaling 183 million yuan for the first three quarters, which is crucial for sustaining its technological barriers and driving long-term development [2] Financial Health - As of September 30, 2025, the company's total assets reached 8.604 billion yuan, an 18.10% increase from the previous year [2] - Although the debt level increased to support business expansion, the overall asset structure remained stable [2] - The net cash flow from operating activities was negative, primarily due to increased cash payments for goods and services, consistent with the characteristics of a company in a rapid growth phase [2] Shareholder Structure - By the end of the reporting period, the total number of common shareholders was 15,709, with the top ten shareholders primarily consisting of the company's founders, management, and related investment institutions, indicating a stable equity structure and confidence in future development [2] Industry Outlook - Looking ahead, the company is expected to benefit from the ongoing global transformation towards smart manufacturing and increased domestic policy support for high-end equipment and new materials, potentially entering a new phase of high-quality growth [3]