Core Viewpoint - The company demonstrated resilience in its development through key financial indicators in the Q3 2025 report, highlighting improvements in profitability and cash flow [1] Financial Performance - The company's net profit attributable to shareholders decreased by over 1.1 billion yuan year-on-year for the first three quarters [1] - Gross margin increased by 4.12 percentage points to 11.03% year-on-year [1] - Operating revenue grew by 60.31% year-on-year [1] - Net cash flow from operating activities reached 5.049 billion yuan, reflecting a significant increase of 304.29% year-on-year, primarily due to inventory reduction and strict cost control [1] Financing Support - In Q3, the company received support from its major shareholder, Shoukai Group, through a 3 billion yuan perpetual bond, providing stable financial backing [1] Strategic Development - The company successfully acquired a core land parcel in Beijing's Chaoyang District for 446 million yuan, enhancing its land reserves for future development [1] - The series of positive actions indicates progress in operational quality, financial management, and strategic positioning, laying a solid foundation for sustainable long-term growth [1]