芳源股份(688148.SH)：2025年第三季度公司实现综合毛利率12.07%，毛利率水平显著提升

Group 1 - The company achieved a comprehensive gross margin of 12.07% in Q3 2025, indicating a significant improvement in profitability [1] - The company plans to enhance the gross margin of its core products through various measures, including improving product quality, ensuring raw material supply, expanding product sales, and increasing capacity utilization [1] - The company has a large inventory amount, which is primarily related to the nature of the industry [1] Group 2 - To alleviate liquidity pressure, the company will enhance its profitability through the aforementioned measures and maintain close communication with banks and financial institutions [1] - The company aims to actively explore diversified financial cooperation scenarios to increase financing channels, providing continuous and stable funding support for business expansion [1] - The company will strengthen communication with investors regarding convertible bonds and will consider various factors to adjust the conversion price appropriately to promote conversion and reduce the asset-liability ratio [1]