Core Insights - The leading company in the blue algae management sector, Delinhai (688069.SH), reported significant growth in its Q3 2025 performance, driven by favorable national policies and a strong alignment with development goals [1][2] Financial Performance - For the first three quarters, the company achieved a revenue of 293 million yuan, remaining stable year-on-year; net profit attributable to shareholders reached 45.64 million yuan, marking a 61.87% increase, while the net profit excluding non-recurring items rose by 66.45% to 36.40 million yuan [1] - In Q3 alone, the company generated 185 million yuan in revenue, a remarkable year-on-year increase of 94.96%; net profit soared to 48.73 million yuan, reflecting a staggering growth of 1323%, and net profit excluding non-recurring items surged by 1540% to 47.13 million yuan [1] Project Developments - The company completed significant projects in Q3, including the design and construction of the Qiluo Lake blue algae control project and the procurement of deep well algae control equipment in Yixing, confirming market recognition of its technology and model [2] - The company has an order backlog of approximately 501 million yuan, highlighting its competitive edge in blue algae management technology [3] Technological Advancements - Delinhai has established a comprehensive technology system focusing on "whole lake management + smart platform + resource utilization," effectively promoting the transformation of "green mountains and clear waters" into "golden mountains and silver mountains" [3] - The company’s core technology, the "deep pressure algae control device," has been recognized as a crucial method for addressing blue algae blooms and nutrient pollution in lakes [3] Recognition and Brand Influence - The company received accolades for its technical capabilities, including a second-class award for scientific and technological progress in Yunnan Province [4] - Delinhai showcased its expertise during the 2025 Shanghai World Rowing Championships, where its algae control vessel operated for over 20 days, treating more than 15,000 cubic meters of water, further enhancing its brand reputation [4] International Expansion - Delinhai has begun international operations, partnering with South Korea's National Blue Algae Management Committee to promote localized improvements of its algae control technology [5] - The company aims to establish a multi-dimensional promotion system for its technology in South Korea, leveraging its experience and success in domestic projects to facilitate international business development [5]