Sou Hu Cai Jing·2026-01-22 12:51Core Viewpoint - SF Holding (002352) shows a steady growth in revenue and profit, despite a decline in quarterly net profit for Q3 2025, indicating potential challenges in maintaining profitability in the short term [2]. Financial Performance - For the first three quarters of 2025, SF Holding reported a total revenue of 225.26 billion yuan, an increase of 8.89% year-on-year [2]. - The net profit attributable to shareholders reached 8.31 billion yuan, up by 9.07% year-on-year [2]. - The net profit excluding non-recurring items was 6.78 billion yuan, reflecting a modest increase of 0.52% year-on-year [2]. - In Q3 2025, the company achieved a single-quarter revenue of 78.40 billion yuan, marking an 8.21% year-on-year increase [2]. - However, the single-quarter net profit attributable to shareholders was 2.57 billion yuan, down by 8.53% year-on-year [2]. - The net profit excluding non-recurring items for Q3 was 2.23 billion yuan, showing a decline of 14.17% year-on-year [2]. - The company's debt ratio stands at 49.99%, with investment income of 1.18 billion yuan and financial expenses of 1.33 billion yuan [2]. - The gross profit margin is reported at 12.96% [2]. Market Activity - As of January 22, 2026, SF Holding's stock closed at 39.67 yuan, with a slight increase of 0.43% [1]. - The trading volume was 304,200 hands, with a total transaction value of 1.21 billion yuan [1]. - The net inflow of main funds was 31.04 million yuan, accounting for 2.56% of the total transaction value, while retail investors saw a net inflow of 32.54 million yuan, also representing 2.69% [1]. - Conversely, speculative funds experienced a net outflow of 63.58 million yuan, which is 5.25% of the total transaction value [1]. Analyst Ratings - Over the past 90 days, 18 institutions have provided ratings for SF Holding, with 15 recommending a buy and 3 suggesting an increase in holdings [2]. - The average target price set by institutions in the last 90 days is 51.03 yuan [2].