NBHX(SZ:002048) Zheng Quan Ri Bao Wang·2025-10-29 13:44Core Viewpoint - Ningbo Huaxiang's Q3 2025 report shows a significant profit recovery despite a revenue decline, indicating strong internal management and profitability improvement capabilities [1][2]. Financial Performance - For the first three quarters, the company achieved a revenue of 19.224 billion yuan, a year-on-year increase of 5.88%, while net profit attributable to shareholders was 88.7261 million yuan, a year-on-year decrease of 87.68% [1]. - In Q3 alone, revenue was 6.345 billion yuan, down 3.01% year-on-year, but net profit attributable to shareholders surged by 149.27% to 462 million yuan [1]. Business Operations - The fluctuation in performance was primarily due to the impact of the European business divestiture and non-recurring losses from North American buybacks in the first half of the year [1]. - The third quarter saw accelerated growth in self-owned brand business and effective cost reduction measures, leading to a significant profit recovery and improved gross margin [1]. Strategic Initiatives - Ningbo Huaxiang is actively pursuing expansion and smart manufacturing upgrades, with plans to raise up to 2.921 billion yuan through a specific A-share issuance to fund various projects, including smart manufacturing and digital upgrades [2]. - The company is also expanding into the humanoid robotics sector through the establishment of Ningbo Huaxiang Qiyuan Technology Co., focusing on hardware solutions and high-performance materials [2][3]. Technological Development - The company aims to become a leading global ODM in the intelligent robotics sector within three to five years, leveraging its lightweight material research capabilities [3]. - A joint venture was established to focus on the research and application of PEEK materials, with significant investments in technology and partnerships with academic institutions to enhance production capabilities [3].