HIUV(SH:688680) Xin Lang Cai Jing·2025-10-30 10:23Core Insights - Haiyou New Materials reported a significant decline in revenue for the first three quarters of 2025, with total revenue at 870 million yuan, a year-on-year decrease of 57.62% [1] - The company experienced a net loss attributable to shareholders of 208 million yuan, which is a 16.43% increase compared to the previous year [1] - The basic earnings per share for the period was -2.51 yuan [2] Financial Performance - The gross margin for the first three quarters of 2025 was -2.85%, down 2.63 percentage points year-on-year, while the net margin was -23.88%, a decrease of 11.77 percentage points from the same period last year [2] - In Q3 2025, the gross margin further declined to -6.67%, a year-on-year drop of 3.60 percentage points, and a quarter-on-quarter decrease of 4.88 percentage points [2] - The net margin for Q3 2025 was -31.49%, down 11.93 percentage points year-on-year and 7.65 percentage points from the previous quarter [2] Expense Analysis - Total operating expenses for the period were 160 million yuan, a reduction of 35.5863 million yuan compared to the same period last year [2] - The expense ratio increased to 18.39%, up 8.86 percentage points year-on-year [2] - Sales expenses decreased by 0.14%, while management expenses rose by 13.71%, R&D expenses fell by 35.71%, and financial expenses decreased by 20.32% [2] Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 8,122, an increase of 811 from the end of the previous half-year, representing an 11.09% growth [3] - The average market value per shareholder increased from 508,000 yuan to 532,400 yuan, a growth of 4.80% [3] Company Overview - Haiyou New Materials, established on September 22, 2005, is located in the China (Shanghai) Pilot Free Trade Zone [3] - The company specializes in the research, production, and sales of specialty polymer films, with 86.75% of its revenue coming from the photovoltaic packaging materials sector [3] - The company is categorized under the power equipment industry, specifically in photovoltaic equipment and auxiliary materials [3]