同仁堂：前三季度净利润11.78亿元，同比下降12.78%

Core Insights - Tongrentang (600085) reported a decline in both revenue and net profit for the third quarter of 2025, indicating challenges in the market environment [1] Financial Performance - The company's third-quarter revenue was 3.539 billion yuan, a year-on-year decrease of 12.76% [1] - Net profit for the third quarter was 232 million yuan, down 29.49% year-on-year [1] - For the first three quarters of 2025, total revenue reached 13.308 billion yuan, reflecting a year-on-year decline of 3.7% [1] - Net profit for the first three quarters was 1.178 billion yuan, which is a decrease of 12.78% compared to the previous year [1] Market Environment - The decline in sales is attributed to the impact of the market environment [1]