Core Insights - The company reported a revenue of 18.68 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 6.67% [1] - The net profit attributable to shareholders decreased by 14.34% year-on-year to 2.435 billion yuan, while the net profit excluding non-recurring items fell by 10.83% to 2.500 billion yuan [1][2] - Basic earnings per share stood at 2.09 yuan [1][2] Financial Performance - The gross profit margin for the first three quarters was 21.96%, down by 5.85 percentage points year-on-year, and the net profit margin was 13.05%, a decrease of 3.19 percentage points compared to the same period last year [2] - In Q3 2025, the gross profit margin was 22.19%, showing a year-on-year decline of 4.82% but a quarter-on-quarter increase of 1.11% [2] - The net profit margin for Q3 was 12.73%, down 3.26% year-on-year but up 0.30 percentage points from the previous quarter [2] Expense Analysis - Total operating expenses for the period were 842 million yuan, a decrease of 320 million yuan year-on-year, with an expense ratio of 4.51%, down 2.13 percentage points from the same period last year [2] - Sales expenses decreased by 17.19%, while management expenses saw a significant reduction of 44.51%. Conversely, R&D expenses increased by 33.53%, and financial expenses rose by 35.95% [2] Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 12,900, an increase of 652 from the end of the previous half-year, marking a growth of 5.33% [2] - The average market value per shareholder decreased from 5.0175 million yuan at the end of the previous half-year to 4.8043 million yuan, a decline of 4.25% [2] Company Overview - Zhongshan Huali Industrial Group Co., Ltd. is located in Zhongshan, Guangdong Province, and was established on September 2, 2004. It was listed on April 26, 2021 [3] - The company's main business involves the development, design, production, and sales of sports footwear, with revenue composition as follows: 89.53% from sports casual shoes, 8.31% from sports sandals/slippers and others, 2.07% from outdoor boots, and 0.09% from other categories [3] - The company belongs to the textile and apparel industry, specifically in textile manufacturing and footwear manufacturing, and is associated with concepts such as overseas expansion, sports industry, high dividends, margin financing, and heavy fund holdings [3]
华利集团前三季度营收186.80亿元同比增6.67%，归母净利润24.35亿元同比降14.34%，毛利率下降5.85个百分点