钢研纳克三季报业绩双增，股价震荡资金流向分化

Core Insights - Steel Research Nack (300797) has shown double-digit growth in both revenue and net profit according to its Q3 2025 report, despite experiencing a net outflow of main funds on February 10, 2026 [1][3]. Stock Performance - On February 10, 2026, Steel Research Nack's stock closed at 18.35 CNY, down 0.49% with a net outflow of 4.78 million CNY from main funds, while retail investors contributed a net inflow of 6.67 million CNY. The trading volume reached 79.13 million CNY with a turnover rate of 1.14%. As of February 11, 2026, the stock price was 18.23 CNY, reflecting a 0.65% decline from the previous day, with a cumulative increase of 0.77% over the past five days and a volatility of 1.80% [2]. Financial Report Analysis - The Q3 2025 report revealed that Steel Research Nack's main revenue for the first three quarters was 806 million CNY, marking an 11.64% year-on-year increase. The net profit attributable to shareholders was approximately 99.70 million CNY, up 15.08% year-on-year, with a gross margin of 46.98%, an increase of 1.03 percentage points. In Q3 alone, revenue was 307 million CNY, reflecting a 15.77% year-on-year growth, and the growth rate of net profit excluding non-recurring items reached 21.19%. R&D expenses increased by 23.06% year-on-year, primarily directed towards high-end scientific instruments and new testing technologies [3]. Institutional Perspectives - In the past 90 days, one institution has rated Steel Research Nack as a "buy" with a target average price of 21.15 CNY. During the research, the company emphasized the stability of its core technical personnel, with the testing business accounting for approximately 50% of its operations, while the instrument segment is accelerating its high-end breakthroughs [4].