研报掘金丨中邮证券：维持安徽合力“买入”评级，费用影响短期业绩，布局机器人产业

Core Viewpoint - The report from Zhongyou Securities indicates that Anhui Heli achieved a net profit attributable to shareholders of 1.121 billion yuan in Q1-Q3 2025, representing a year-on-year decrease of 4.88% [1] - In Q3 alone, the net profit attributable to shareholders was 303 million yuan, reflecting a year-on-year decline of 11.84% [1] - The short-term performance is impacted by expenses, while the company is strategically positioning itself in the robotics industry [1] Financial Performance - For Q1-Q3 2025, the net profit attributable to shareholders was 1.121 billion yuan, down 4.88% year-on-year [1] - In Q3 2025, the net profit attributable to shareholders was 303 million yuan, down 11.84% year-on-year [1] Strategic Developments - The company is focusing on the robotics industry as part of its strategic layout [1] - The acquisition of Jianghuai Heavy Industry is part of the company's growth strategy [1]