Ge Long Hui·2025-11-03 08:34Core Viewpoint - The report from Pacific Securities indicates that Denghai Seed Industry's net profit attributable to shareholders for the first three quarters of 2025 is 53.99 million, a year-on-year decrease of 7.84%, while the net profit for the third quarter alone is 18.88 million, showing a significant year-on-year increase of 222.86% [1] Financial Performance - For the first three quarters of 2025, the company reported a net profit of 53.99 million, down 7.84% year-on-year [1] - In the third quarter, the net profit reached 18.88 million, reflecting a substantial increase of 222.86% compared to the same period last year [1] - The overall gross margin for the third quarter was 38.45%, which is an increase of 6.52 percentage points from the previous year [1] Industry Position - The company continues to face pressure on performance due to industry downturns, but it maintains a strong variety advantage [1] - Denghai Seed Industry is recognized as one of the leading companies in the domestic corn seed industry, with significant advantages in germplasm resources and variety [1] - The company has successfully passed the national review or preliminary review for a total of six genetically modified corn varieties, including the recently approved "Denghai 1959D" [1] - The leading variety, Denghai 605D, has shown a gradual increase in sales following trials and demonstration promotions [1] Investment Rating - The company maintains an "Accumulate" rating based on its strong variety advantages and market position despite current industry challenges [1]