编辑丨安安 11月26日，理想汽车公布2025年第三季度财报。 作者丨彭鑫 数据显示，2025年第三季度营收为274亿元，同比下滑36.2%，环比下滑9.5%。净亏损6.244亿元，而上 年同期净利润28亿元，上一季度净利润11亿元。不按美国通用会计准则，调整后的净亏损3.597亿元， 而上年同期净利润39亿元，上一季度净利润15亿元。 与此同时，2025年第三季度，汽车交付总量为93211辆，同比下滑39.0%。截至2025年10月31日，公司 在全国157个城市拥有551家零售中心，于225个城市运营554家售后维修中心及理想汽车授权钣喷中心， 并已投入3508座理想超充站，配备1.94万个充电桩。 截至发稿，理想汽车美股盘前跌2.78%，报17.810美元/股。 ...

董事会认为，净亏损增加主要由于(i)服务成本增加约1530万港元，乃由于报告期间收益增加所致;(ii)行 政开支增加约170万港元，乃由于数智化营销成本增加并部分被行政人员成本减少所抵销;(iii)金融资产 确认的减值亏损增加约600万港元。其部分被收益增加约1350万港元而抵销，该收益增长主要由于互联 网服务分部收益增加约3730万港元，但部分被基础及其他建筑工程分部收益减少约2380万港元所抵销。 中国红包(08316)发布公告，集团预期于截至2025年9月30日止六个月将取得不少于约1440万港元的净亏 损，而截至2024年9月30日止六个月净亏损约440万港元。 ...

璋利国际(01693)发布公告，本集团预计截至2025年8月31日止17个月将取得本公司股东应占未经审核亏 损净额约4890万林吉特，而截至2024年3月31日止12个月期间取得本公司股东应占亏损净额120万林吉 特。 公告称，报告期间亏损净额增加主要由于(i)就其中一个项目因需要支付额外的订明违约赔偿而增加相关 开支;(ii)其他收入减少，主要由于相应期间应付商品及服务税(GST)拨回所致，而该项目于报告期间并 未再次发生;(iii)于报告期间确认了贸易应收款、保留金及其他应收款的减值亏损，而相应期间则取得相 关减值亏损的拨回;(iv)报告期间兑现履约保函及银行担保撤销的应计费用令报告期间产生的净亏损增加; 及(v)已终止业务的溢利减少，主要由于相应期间因出售一家附属公司而取得收益。 公司于2025年2月28日刊发的公告所披露，本公司的财政年度结算日已由2025年3月31日更改为2025年8 月31日。因此，报告期间将涵盖自2024年4月1日至2025年8月31日共17个月，而相应期间则涵盖自2023 年4月1日至2024年3月31日共12个月。故此，有关比较数字并不具直接可比性。 ...

Core Viewpoint - StubHub's shares fell over 28% following the announcement of a $1.3 billion net loss and the decision not to provide guidance for the upcoming quarter, despite reporting year-over-year revenue growth [1][2]. Financial Performance - StubHub reported a net loss of $1.3 billion (-$4.27 per share) for the quarter, a significant increase from a net loss of $45.9 million (-$0.15 per share) in the same quarter last year [2]. - The loss was primarily due to a one-time stock-based compensation charge of $1.4 billion related to the company's IPO [2]. - Revenue grew by 8% to $468.1 million, up from $433.8 million in the same period last year [2]. Market Reaction - Following the earnings report, StubHub's stock opened down 28.6% and remained significantly lower, down 21.4% by midday [1]. - The lack of forward guidance has heightened investor caution, particularly as StubHub navigates its first full reporting cycle as a newly public company [3]. - The quarter's performance faced tough comparisons to the previous year, notably due to the impact of Taylor Swift's Eras Tour on resale demand [3].

Core Viewpoint - The company anticipates a net loss of approximately HKD 1.7 million in the first half of 2026, a decrease from a net loss of about HKD 5.3 million for the six-month period ending September 30, 2024 [1] Summary by Relevant Categories - **Financial Performance** - Expected net loss for the first half of 2026 is approximately HKD 1.7 million [1] - Net loss for the six months ending September 30, 2024, is projected to be around HKD 5.3 million [1] - **Factors Influencing Financial Outlook** - The anticipated reduction in loss for the first half of 2026 is primarily attributed to an increase in revenue [1] - A decrease in impairment-related depreciation of right-of-use assets by approximately HKD 2.4 million [1]

Core Insights - The company reported a revenue increase of 46.89% year-on-year, reaching RMB 189 million in the third quarter of 2025 [1] - The net loss for the quarter was RMB 30.24 million, with a basic loss per share of RMB 0.19 [1] - The revenue growth was primarily driven by increased market demand and a significant rise in product sales volume [1] Financial Performance - Revenue for Q3 2025: RMB 189 million, up 46.89% year-on-year [1] - Net loss for Q3 2025: RMB 30.24 million [1] - Basic loss per share: RMB 0.19 [1] Market Dynamics - The increase in revenue is attributed to heightened market demand [1] - A substantial increase in product sales volume contributed to the revenue growth [1]

Financial Performance - NIO's Q2 2025 revenue reached 1901 billion RMB, a year-over-year increase from 1745 billion RMB [1] - NIO experienced a net loss of 5141 billion RMB in Q2 2025, nearly the same as the 5126 billion RMB net loss in the same period last year [1] Production and Delivery - NIO anticipates Q3 deliveries to range between 87000 and 91000 vehicles [1] Market Reaction - NIO's stock experienced a significant pre-market drop of 17% [1]

Group 1 - The company, Huajin International Holdings (02738), reported a mid-year performance for 2025 with revenue of approximately 733 million, representing a year-on-year decrease of 77.14% [1] - The company experienced a net loss of approximately 523 million, marking a shift from profit to loss compared to the previous year [1] - The loss per share was reported at 87.19 cents [1] Group 2 - The announcement indicated that the net loss was primarily due to declines in revenue, sales volume, and profit margins [1]

Group 1 - The company reported a mid-year performance for 2025, with revenue of 324 million HKD, representing a year-on-year increase of 0.6% [1] - The company experienced a net loss of 13.82 million HKD, compared to a profit of 9.255 million HKD in the same period last year [1] - Basic loss per share was recorded at 2.3 HKD cents [1] Group 2 - The gross profit margin decreased by 3.6 percentage points to 17.7%, down from 21.3% in 2024 [1] - The decline in gross profit margin is attributed to aggressive price cuts by domestic manufacturers, leading to intensified market competition [1]

Core Viewpoint - The company anticipates a significant decline in net profit for the upcoming financial period, projecting a net loss compared to the previous period's profit [1] Financial Performance - For the six months ending June 30, 2024, the company recorded a net profit of HKD 5.7 million [1] - For the six months ending June 30, 2025, the company expects to incur a net loss of no less than HKD 0.5 million [1] Reasons for Change - The anticipated decrease in net profit is primarily attributed to increased financing costs from other borrowings and higher administrative expenses in the consumer products business [1]