南山控股2025年业绩预亏，股价震荡下行

Core Viewpoint - Nanshan Holdings (002314) is expected to report a net loss of 1.8 billion to 2.2 billion yuan for the year 2025, primarily due to asset impairment related to the downturn in the real estate market [1]. Group 1: Financial Performance - For the first three quarters of 2025, the company reported revenue of 10.906 billion yuan and a net profit attributable to shareholders of 330 million yuan [2]. - In Q3 alone, the company achieved revenue of 5.126 billion yuan, representing a year-on-year increase of 262.88%, and a net profit of 238 million yuan, up 203.51% year-on-year [2]. - The company's gross margin stood at 21.85%, with a debt ratio of 73.92% [2]. Group 2: Business Operations - The company maintains a high occupancy rate of 91.1% in its warehousing and logistics business, although it continues to face rental pressure [2]. - The company emphasizes robust cash flow management despite the anticipated losses [2]. Group 3: Stock Performance - The stock price has experienced a downward trend over the past week, currently priced at 2.65 yuan, reflecting a decline of 1.85% [3]. - There has been a continuous net outflow of major funds, indicating short-term capital divergence, with a trading range fluctuation of 6.69% and active turnover [3].