NBSS(SH:600884) Zheng Quan Ri Bao Wang·2025-10-31 07:35Core Viewpoint - Ningbo Shanshan Co., Ltd. reported significant growth in revenue and net profit for the first three quarters of 2025, driven by strong performance in its core businesses of lithium battery anode materials and polarizers [1][2]. Financial Performance - Total revenue for the first three quarters reached 14.809 billion yuan, an increase of 11.48% year-on-year [1] - Net profit attributable to shareholders was 284 million yuan, up 1121.72% year-on-year [1] - Net profit excluding non-recurring items was 223 million yuan, reflecting a growth of 512.94% year-on-year [1] - In Q3 alone, revenue was 4.951 billion yuan, a year-on-year increase of 10.91% [1] - Q3 net profit attributable to shareholders was 76.29 million yuan, up 1253.04% year-on-year [1] - Operating cash flow improved significantly, with a net cash flow from operating activities of 2.355 billion yuan, a growth of 134.69% year-on-year [1] Business Segments - The polarizer business saw a notable increase in the shipment of high-value-added products, contributing to overall revenue growth [1] - The domestic lithium battery anode materials market showed strong performance, with a production increase of 35.8% year-on-year, reaching 2.0596 million tons from January to September 2025 [2] - Shanshan maintained the leading market share in artificial graphite, supported by integrated production capacity and cost control measures [2] Competitive Advantages - Shanshan has established a strong market position in the artificial graphite sector, leveraging years of technical expertise and stable product performance [3] - The company’s products meet stringent requirements for high-end batteries, enhancing its bargaining power with clients [3] - The integration of lithium battery anode materials and polarizers is expected to further strengthen Shanshan's competitive edge in the global new energy and display materials supply chain [3]