Core Viewpoint - The company reported a decline in revenue and operating profit for the third quarter of 2025, reflecting the impact of industry conditions and inventory destocking [1] Group 1: Financial Performance - For the first three quarters of 2025, the company achieved revenue of 103 billion yuan, a year-on-year decrease of 6.0%, and operating profit of 13.15 billion yuan, down 27.7% [1] - In the third quarter alone, revenue was 19.78 billion yuan, a decline of 12.7%, with operating profit dropping to 1.03 billion yuan, down 51.6% [1] - The company maintains a safe and stable financial structure, with net debt ratio and financing costs remaining in the lowest range of the industry [1] Group 2: Market Position - The company secured a sales amount of 170.5 billion yuan in the first three quarters of 2025, a decrease of 14%, maintaining its position as the second largest in the industry [1] - In the northern region, the company reported a sales amount of 59.1 billion yuan, an increase of 52%, accounting for 35% of total sales [1] - In Beijing, the company achieved a sales amount of 33.1 billion yuan, ranking first in the sales list for the first three quarters of 2025 [1] Group 3: Strategic Actions - The company acquired 27 land parcels in the first three quarters of 2025, with a total land price of 82.7 billion yuan, an increase of 40.7% year-on-year [1] - In the third quarter, the company actively replenished land, acquiring 9 parcels with a total land price of 60.5 billion yuan, including projects in Shanghai through equity transactions [1]