Ge Long Hui A P P·2025-12-08 09:08Core Viewpoint - The report from CITIC Securities highlights that Yangguang Electric achieved record-high performance in Q3 2025, driven by global energy storage demand and an increase in high-margin overseas business [1] Financial Performance - In Q3 2025, Yangguang Electric reported operating revenue of 22.869 billion yuan, a year-on-year increase of 20.83% and a quarter-on-quarter decrease of 6.65% [1] - The net profit attributable to shareholders reached 4.147 billion yuan, reflecting a year-on-year increase of 57.04% and a quarter-on-quarter increase of 6.10% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 3.991 billion yuan, with a year-on-year increase of 59.76% and a quarter-on-quarter increase of 4.50% [1] Future Outlook - The global demand for energy storage is expected to continue to resonate, driving rapid growth in the company's energy storage shipments [1] - The AIDC配储 orders and the gradual rollout of power products are anticipated to further contribute to profit growth for the company [1] - The company maintains a "Buy" rating based on these positive indicators [1]