Zheng Quan Shi Bao Wang·2025-10-30 07:37Core Insights - Fulong Technology (603327) reported a revenue of 1.91 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 10.23% [1] - The net profit attributable to shareholders decreased by 42.69% to 81.53 million yuan, while the net profit after deducting non-recurring items fell by 30.76% to 74.29 million yuan [1] - The cash flow from operating activities was -201 million yuan, a significant decline of 230.53% year-on-year [1] Financial Performance - In Q3, the company achieved a revenue of 730 million yuan and a net profit of 40.06 million yuan [1] - Over the past two years, the company's net profit has been on a downward trend, with a profit of 278 million yuan in 2023, down 28.83% year-on-year, and a projected profit of 160 million yuan in 2024, down 42.65% [2] Market Conditions - The decline in performance is attributed to market downturns, the impact of export tax rebate policies, and the underperformance of subsidiaries still in the growth phase [1] - The company has also seen a reduction in government subsidies [1] Shareholder Changes - As of the end of Q3, China International Capital Corporation reduced its holdings and exited the list of the company's top ten shareholders [1] Company Overview - Fulong Technology, established in 2011 and listed on the Shanghai Stock Exchange in 2019, is primarily engaged in the R&D, production, and sales of aluminum structural components for consumer electronics, new energy, and automotive applications [2] - The company's products are utilized by major brands such as Samsung, Google, Xiaomi, and Apple in the consumer electronics sector [2]