Core Insights - The company expects a significant decline in net profit for the first three quarters, with estimates ranging from 61 million to 66 million yuan, representing a decrease of 49.32% to 45.16% compared to the same period last year [1] - The net profit after excluding non-recurring gains and losses is projected to be between 53.91 million and 58.91 million yuan, reflecting a drop of 53.77% to 49.48% year-on-year [1] Group 1 - During the reporting period, the company expanded its domestic and international markets, with a contract signing amount for Q3 2025 increasing by 80.42% year-on-year, including a domestic growth of 48.31% and an international growth of 114.30% [2] - The total contract signing amount for the first three quarters of 2025 increased by 32.21% compared to last year, with domestic growth of 11.72% and international growth of 51.44% [2] - Foreign exchange losses impacted the company's net profit by approximately 7.96 million yuan, compared to a loss of 619,000 yuan in the same period last year [2] Group 2 - The company continued to invest heavily in global production base construction, resulting in significant capital expenditures [2] - Fixed asset depreciation for the first three quarters of 2025 amounted to 71.71 million yuan, an increase of 14.73 million yuan compared to the same period last year [2] - The company recognized revenue of 200.38 million yuan from EPC projects (mining system solutions and services) in the first three quarters of 2024, while there was no such revenue recognized in the same period last year, contributing to the substantial decline in net profit [2] - Non-recurring gains and losses are expected to impact net profit by approximately 7.09 million yuan [2]