Beingmate(SZ:002570) Chang Jiang Shang Bao·2025-10-30 00:12Core Viewpoint - Beiyinmei's profitability is rapidly recovering, with significant growth in net profit despite a slight decline in revenue for the first three quarters of 2025 [2][6]. Financial Performance - For the first three quarters of 2025, Beiyinmei reported revenue of 2.033 billion yuan, a year-on-year decrease of 2.59%, while net profit reached 106 million yuan, an increase of 48.07% [2][6]. - The company's net profit margin increased to 5.62%, slightly above the founder's stated goal of a 5% profit margin [2][11]. - In Q3 2025, revenue was 678 million yuan, a year-on-year increase of 1.17%, and net profit was 32.26 million yuan, up 59.25% [6]. Employee Stock Ownership Plan - Beiyinmei's sixth employee stock ownership plan aims for a net profit growth rate of no less than 45% or a revenue growth rate of no less than 25% for 2025 [2][9]. - The plan involves a maximum of 13.9 million shares, representing 1.29% of the company's total shares, with a repurchase price of 3.50 yuan per share [8][9]. Cost Management - The company achieved cost reductions, with sales expenses increasing by 1.60% to 595 million yuan, while management expenses decreased by 4.93% to 138 million yuan, and financial expenses dropped by 54.08% to approximately 11.1 million yuan [6][12]. Research and Development - Beiyinmei increased its R&D expenses by 53.22% to 17.36 million yuan in the first three quarters of 2025, indicating a commitment to product innovation and quality [12][13].