Namchow Food(SH:605339) Zhong Guo Jing Ji Wang·2025-11-25 06:38Core Viewpoint - Nanjiao Food (605339.SH) reported a decline in revenue and net profit for the first three quarters of 2025, indicating significant financial challenges faced by the company [1][2]. Financial Performance Summary - For the first nine months of 2025, the company achieved operating revenue of 2.268 billion yuan, a year-on-year decrease of 1.60% [1][2]. - The net profit attributable to shareholders was 28.82 million yuan, down 80.82% year-on-year [1][2]. - The net profit after deducting non-recurring gains and losses was 25.58 million yuan, reflecting an 81.69% decline compared to the previous year [1][2]. - The net cash flow from operating activities was -4.78 million yuan, a decrease of 102.60% year-on-year [1][2]. Previous Year Comparison - In 2024, the company reported operating revenue of 3.159 billion yuan, a 2.49% increase from 2023 [3]. - The net profit attributable to shareholders in 2024 was 201.39 million yuan, a decrease of 13.34% from 2023 [3]. - The net profit after excluding non-recurring items was 182.57 million yuan, down 15.75% year-on-year [3]. - The net cash flow from operating activities in 2024 was 231.56 million yuan, a decrease of 44.93% compared to 2023 [3]. Initial Public Offering and Fund Utilization - Nanjiao Food raised a total of 1.078 billion yuan from its initial public offering, with a net amount of 991.28 million yuan after deducting issuance costs [4]. - The raised funds are allocated for expansion projects, cold chain storage upgrades, research and development center improvements, and customer service and information system upgrades [4]. Issuance Costs - The total issuance costs (excluding VAT) amounted to 87.45 million yuan, with underwriting and sponsorship fees accounting for 49.57 million yuan [5].