腾龙股份：2025年Q3营收增0.5%，净利润降57.16%

Core Viewpoint - The company reported a mixed performance for Q3 2025, with revenue growth but a significant decline in net profit due to previous asset disposal gains [1] Financial Performance - Revenue for the quarter reached 972 million yuan, representing a year-on-year increase of 0.5% [1] - Net profit attributable to shareholders was 52 million yuan, a decrease of 57.16% year-on-year, primarily due to last year's asset disposal gains from demolition compensation [1] - The non-recurring net profit was 51 million yuan, reflecting a year-on-year decrease of 20.28%, impacted by industry competition and project capacity ramp-up [1] Market and Product Development - The company currently has approximately 20% of its sales coming from overseas markets and plans to evaluate foreign exchange hedging measures as needed [1] - The company is expanding into new product areas, including electronic water pumps, and is exploring emerging market segments [1] - A subsidiary has been established in the server liquid cooling sector, and the vehicle-mounted refrigerator project is expected to commence mass production by the end of the year [1]