YIWU CCC(SH:600415) Sou Hu Cai Jing·2026-01-19 11:12Core Viewpoint - The company Xiaogoods City (600415) has shown significant growth in its financial performance for the first three quarters of 2025, with a focus on building a comprehensive trade service platform for small and medium enterprises globally [2]. Financial Performance - For the first three quarters of 2025, Xiaogoods City reported a main revenue of 13.061 billion yuan, an increase of 23.07% year-on-year [2]. - The net profit attributable to shareholders reached 3.457 billion yuan, reflecting a year-on-year increase of 48.45% [2]. - The net profit excluding non-recurring items was 3.392 billion yuan, up 48.59% year-on-year [2]. - In Q3 2025 alone, the company achieved a main revenue of 5.348 billion yuan, a 39.02% increase year-on-year [2]. - The net profit for Q3 2025 was 1.766 billion yuan, showing a remarkable year-on-year growth of 100.52% [2]. - The net profit excluding non-recurring items for Q3 2025 was 1.723 billion yuan, up 99.56% year-on-year [2]. - The company's debt ratio stands at 50.86%, with investment income of 268 million yuan and financial expenses of 12.632 million yuan [2]. - The gross profit margin is reported at 37.23% [2]. Business Strategy - Xiaogoods City aims to establish itself as a "global leading comprehensive service provider for international trade," focusing on enhancing three ecosystems: product display and trading, trade services, and supporting services [2]. - The product display and trading ecosystem includes offline market operations and self-operated trade sales [2]. - The trade services ecosystem encompasses the Chinagoods online service platform, warehousing, logistics, payment, credit, and factoring services [2]. - The supporting services ecosystem includes exhibition and hotel sectors [2]. Market Sentiment - In the last 90 days, 14 institutions have rated Xiaogoods City, all giving a buy rating [3]. - The average target price set by institutions over the past 90 days is 2.116 billion yuan [3].