Xin Lang Cai Jing·2025-10-30 06:31Core Insights - The company achieved a revenue of 32.86 billion yuan in Q1-Q3 2025, representing an 18.6% year-on-year increase, with a net profit attributable to shareholders of 12.076 billion yuan, up 84.84% [1] - The company has raised its full-year guidance, expecting a 17-18% growth in continuous operating revenue for 2025, up from the previous estimate of 13-17% [2] Financial Performance - Q3 revenue reached 12.06 billion yuan, a 15.3% increase year-on-year, with a net profit of 3.515 billion yuan, up 53.27% [1] - Adjusted net profit for Q3 was 4.22 billion yuan, reflecting a 42% increase [1] - The adjusted net profit margin improved by 1.7 percentage points to 32.1% [2] Business Segments - The chemical business generated 25.98 billion yuan in revenue for the first three quarters of 2025, a 29.3% increase, with a gross margin of 51.3% [2] - Small molecule D&M revenue was 14.24 billion yuan, up 14.1%, while TIDES revenue surged by 121.1% to 7.84 billion yuan [2] - The Testing business reported revenue of 4.17 billion yuan for Q1-Q3 2025, with a gross margin of 26.5% [3] - The biological segment generated 1.95 billion yuan in revenue, with a gross margin of 37% [3] Order Backlog and Growth Prospects - The company had an order backlog of 59.88 billion yuan as of Q3 2025, a 41.2% year-on-year increase [2] - The TIDES order backlog grew by 17.1% year-on-year, indicating strong short-term performance certainty [3] Profit Forecast - Revenue projections for 2025-2027 are 45.036 billion yuan, 52.98 billion yuan, and 61.18 billion yuan, with respective year-on-year growth rates of 14.77%, 17.64%, and 15.48% [4] - Net profit forecasts for the same period are 14.346 billion yuan, 16.033 billion yuan, and 19.093 billion yuan, with year-on-year growth rates of 51.8%, 11.76%, and 19.09% [4]