Ge Long Hui·2025-12-02 06:45Core Viewpoint - Dongfang Electric achieved a net profit attributable to shareholders of 2.97 billion yuan in Q1-Q3 of 2025, representing a year-on-year increase of 13.0% [1] - The company reported a net profit of 1.06 billion yuan in Q3 of 2025, with a year-on-year growth of 13.2% [1] - The company is expected to experience significant performance elasticity due to a peak in coal and nuclear power deliveries in 2025, supported by a stable increase in orders [1] Financial Performance - The gross profit margin has improved quarter-on-quarter, indicating better cost management and operational efficiency [1] - The order backlog remains robust, with a steady increase in effective orders throughout the first three quarters of 2025 [1] Future Outlook - The clean and efficient energy equipment orders in Q3 of 2025 have shown a year-on-year increase, suggesting a positive trend in demand [1] - The pumped storage business is anticipated to contribute to future earnings, while there is potential for improved profit margins in wind power [1] - The company maintains a "buy" rating, reflecting confidence in its growth prospects [1]