GHT(SZ:300711) 2 1 Shi Ji Jing Ji Bao Dao·2025-11-20 02:34Core Viewpoint - Guangha Communication (300711.SZ) has received an inquiry letter regarding its stock issuance to specific targets, focusing on the concerns of performance fluctuations, particularly the "increase in revenue without profit increase" observed in the first three quarters of 2025 [1] Financial Performance - The company has experienced continuous growth in revenue and net profit attributable to shareholders excluding non-recurring gains over the past three years, driven by strong demand in the downstream power market, recovery in defense business, and the completion of the acquisition of Easy Vision in 2024 [1] - In the first three quarters of 2025, the company reported a significant increase in new orders, with a year-on-year growth of 93%, indicating a robust order backlog and no anticipated risk of market demand decline [1] Operational Challenges - The "increase in revenue without profit increase" in the first three quarters of 2025 is primarily attributed to delays in project acceptance in the defense business, which resulted in a reduction in recognized operating profit for the period [1] - The company also recognized non-recurring gains, including government subsidies, which, if excluded, would better reflect the short-term pressure on the main business's net profit [1]