Anker Innovations(SZ:300866) Xin Lang Cai Jing·2025-10-31 00:41Core Insights - The company achieved a revenue of 8.152 billion yuan in Q3, reflecting a year-on-year growth of 19.88%, continuing a strong performance throughout the year [1] - The net profit attributable to shareholders reached 766 million yuan, up 27.76% year-on-year, while the net profit excluding non-recurring items was 521 million yuan, down 2.92% year-on-year, impacted by increased brand building and R&D investments, as well as inventory impairment due to rising tariffs and seasonal stock increases [1] Revenue Growth - The company reported strong growth across all channels, with online revenue reaching 14.396 billion yuan, a year-on-year increase of 25.22%, and offline revenue at 6.623 billion yuan, up 33.76% year-on-year [1] - The European market is expected to show significant growth, while North America remains stable [1] Product Development - The company launched multiple new products in Q3, including multi-device charging products and expanded offerings in consumer-grade energy storage, cleaning, and security categories, contributing to revenue growth [1] Profitability and Cost Structure - The gross margin improved to 44.6%, an increase of 1.61 percentage points year-on-year, driven by product mix optimization and enhanced brand strength [2] - The sales expense ratio was 22.97%, up 0.96 percentage points year-on-year, reflecting ongoing investment in brand promotion [2] - R&D expense ratio was 9.22%, up 0.36 percentage points year-on-year, due to increased R&D projects and personnel costs [2] Cash Flow - The company experienced a net cash outflow from operating activities of 865 million yuan in the first three quarters, attributed to pre-stock purchases and increased employee-related payments [2]