Core Insights - *ST Fanli (600228) reported a significant increase in revenue for Q3 2025, with a total of 129 million yuan, representing a year-on-year growth of 131.29% [2] - Despite the revenue growth, the company faced a net loss of 11.5 million yuan in Q3 2025 [2] - For the first three quarters of 2025, the total revenue reached 315 million yuan, showing a year-on-year increase of 63.67%, while the net loss amounted to 44.78 million yuan [2] Revenue Breakdown - The growth in revenue was driven by the company's guiding business, advertising business, and other operations, primarily in e-commerce retail [2] - Increased market spending and higher labor costs compared to the previous year contributed to the financial losses [2]

Core Viewpoint - *ST Fanli (600228) reported significant revenue growth in Q3 2025, but continued to face net losses due to increased market and labor costs [1] Financial Performance - The company's Q3 2025 revenue reached 129 million yuan, representing a year-on-year increase of 131.29% [1] - For the first three quarters of 2025, total revenue was 315 million yuan, showing a year-on-year growth of 63.67% [1] - The net loss for Q3 2025 was 11.5 million yuan, and the net loss for the first three quarters amounted to 44.78 million yuan [1] Business Segments - Growth was observed in the company's guiding business, advertising business, and other operations, primarily in e-commerce retail [1] - Increased market spending and labor costs contributed to the ongoing net losses despite revenue growth [1]

Core Viewpoint - The company, Rebate Network Digital Technology Co., Ltd., is forecasting a significant loss for the first half of 2025, with expected net profit ranging from -45 million RMB to -30 million RMB, indicating a downturn compared to the previous year [1][2]. Group 1: Performance Forecast - The company anticipates a net profit attributable to shareholders of -45 million RMB to -30 million RMB for the first half of 2025, indicating a loss [1]. - The expected net profit after deducting non-recurring gains and losses is projected to be between -42 million RMB and -28 million RMB [1]. - The forecasted operating revenue for the first half of 2025 is estimated to be between 170 million RMB and 200 million RMB [1]. Group 2: Previous Year Comparison - In the same period last year, the company reported a total profit of 4.2412 million RMB and a net profit attributable to shareholders of 3.3646 million RMB [2]. - The net profit after deducting non-recurring gains and losses for the previous year was 1.8977 million RMB [2]. - The earnings per share for the previous year were reported at 0.0056 RMB [2]. Group 3: Reasons for Performance Decline - The primary reasons for the expected loss include increased market expenses for the company's guiding business and higher personnel costs due to an expanded business team [2]. - Non-operating gains and losses affecting net profit include provisions for legal fees related to overseas litigation and government subsidies received during the reporting period [2]. - Accounting treatment did not have a significant impact on the company's current performance forecast [2]. Group 4: Additional Information - The company noted that revenue has increased year-on-year, primarily due to significant growth in guiding income and a slight increase in advertising revenue [2]. - The effectiveness of advertising business in client expansion and team growth has begun to show results [2]. - The e-commerce retail business continues to explore avenues for revenue growth [2].