XD INVESTMENT(SZ:000900) Sou Hu Cai Jing·2025-10-30 10:05Core Viewpoint - Modern Investment (000900) reported a decline in revenue but an increase in net profit and cash flow for the third quarter of 2025, indicating mixed financial performance [1][2]. Financial Performance - For the year-to-date until the reporting period, the company achieved operating revenue of 5,166,397,158.95 yuan, a decrease of 9.74% compared to the same period last year [1]. - The net profit attributable to shareholders was 433,447,811.07 yuan, reflecting a year-on-year increase of 6.70% [1]. - The net cash flow from operating activities was 2,763,584,871.68 yuan, showing a significant growth of 33.97% [1][2]. Balance Sheet Highlights - The amount of funds lent out increased from 0.00 yuan at the end of the previous year to 100,000,000.00 yuan, marking a 100.00% change due to new borrowing by the bank's subsidiary [1]. - Trading financial assets rose to 205,540,103.35 yuan, up 38.76% from the end of the previous year, primarily due to increased holdings in funds and trust products by the futures subsidiary [1]. - Derivative financial assets surged to 20,940,900.00 yuan, a 341.50% increase, attributed to changes in the fair value of futures positions in the trading subsidiary [1]. Investment Income and Cash Flow - Investment income for the year-to-date was 36,343,563.24 yuan, down 85.21% year-on-year, mainly due to reduced profits from futures trading and lower investment returns from affiliated rural commercial banks [2]. - Fair value changes yielded a profit of 67,589,734.51 yuan, a significant improvement from a loss of 94,597,331.17 yuan in the same period last year, reflecting a 171.45% change [2]. - Cash outflows from investment activities totaled 5,972,390,802.48 yuan, a decrease of 51.03% year-on-year, primarily due to reduced debt investment scale by the subsidiary Yueyang Baling Rural Commercial Bank [2]. Shareholder Information - As of the reporting period, the total number of ordinary shareholders was 42,424, with Hunan Expressway Group Co., Ltd. being the largest shareholder, holding 27.19% of shares, equivalent to 412,666,971 shares [2]. Operational Changes - The company announced that its subsidiary Changyong Expressway will cease toll collection and transition to free road operation starting November 1, 2025 [2].