研报掘金丨华安证券：维持三环集团“买入”评级，MLCC/SOFC业务进展顺利

Core Viewpoint - SanHuan Group is expected to achieve a net profit attributable to shareholders of approximately 1.959 billion yuan in the first three quarters of 2025, representing a year-on-year growth of about 22.16% [1] Financial Performance Summary - In Q3, SanHuan Group achieved a net profit attributable to shareholders of approximately 721 million yuan, reflecting a year-on-year increase of about 24.86% and a quarter-on-quarter growth of approximately 2.40% [1]