苏博特：公司下游客户包含了央国企在内的大型基建类企业

Core Viewpoint - The company, Subote, has established strategic partnerships with large infrastructure enterprises, including state-owned enterprises, which enhances its creditworthiness and accounts receivable management [2] Group 1: Client Base and Partnerships - The company serves large infrastructure enterprises, including central and state-owned enterprises, which are characterized by their substantial scale and strong financial capabilities [2] - Strategic partnerships with these clients contribute to a favorable accounts receivable position within the industry [2] Group 2: Accounts Receivable Management - The company emphasizes risk control in accounts receivable management through a systematic and dynamic monitoring approach, addressing management at multiple stages: pre, during, and post [2] Group 3: Operational Efficiency - The company has completed a nationwide layout, enhancing customer response speed while reducing logistics costs, thereby improving operational efficiency and profit levels [2] Group 4: Financial Performance - As of the end of Q3 2025, the net profit attributable to the listed company has increased by 19.7% year-on-year [2] - The company aims to continue refining management practices to enhance operational effectiveness and provide better returns for shareholders [2]