每周股票复盘：信达地产（600657）Q3净亏16.18亿

Core Viewpoint - Xinda Real Estate (600657) has experienced a significant decline in both revenue and net profit for the first three quarters of 2025, indicating financial distress and operational challenges in the real estate sector [2][3]. Financial Performance - For the first three quarters of 2025, the company reported a total revenue of 2.692 billion yuan, a year-on-year decrease of 23.06% [2][3]. - The net profit attributable to shareholders was -5.309 billion yuan, reflecting a staggering year-on-year decline of 6021.43% [2][3]. - The third quarter alone saw a revenue of 914 million yuan, down 5.47% year-on-year, with a net profit of -1.618 billion yuan, a decrease of 737.91% compared to the same period last year [2][3]. Balance Sheet and Debt - As of September 30, 2025, total assets amounted to 75.242 billion yuan, a decrease of 1.192 billion yuan since the beginning of the year [3]. - Total liabilities reached 53.296 billion yuan, an increase of 2.798 billion yuan from the start of the year, resulting in a debt ratio of 70.83%, which is up 4.76 percentage points from the end of the previous year [3]. Shareholder Changes - The number of shareholders decreased to 38,500 as of September 30, 2025, representing a reduction of 8.82% from June 30, 2025 [4]. - The average number of shares held per shareholder increased from 67,500 to 74,000, with an average market value of 302,000 yuan per shareholder [4]. Project and Operational Updates - The company achieved a cumulative sales area of 413,200 square meters, with a sales amount of 7.558 billion yuan and cash collection of 7.908 billion yuan [3]. - New construction area was 429,500 square meters, while completed area was 682,000 square meters [3]. - The actual controller of the company changed from the Ministry of Finance to Central Huijin Investment Limited Liability Company as of September 6, 2025 [3].