Core Insights - The core viewpoint of the article highlights the financial performance of Borui Pharmaceutical (688166.SH) for Q3 2025, indicating a decline in net profit despite a slight increase in revenue [1] Financial Performance - Q3 revenue reached 337 million yuan, representing a year-on-year increase of 5.54% [1] - Q3 net profit was 33.15 million yuan, showing a year-on-year decrease of 53.34% [1] - Revenue for the first three quarters totaled 874 million yuan, reflecting a year-on-year decline of 10.50% [1] - Net profit for the first three quarters was 50.32 million yuan, down 71.64% year-on-year [1] Factors Affecting Performance - The decline in performance is primarily attributed to changes in flu trends and intensified market competition, leading to decreased demand and prices for oseltamivir raw materials and formulations [1] - Revenue and gross profit from antiviral products significantly decreased [1] - Sales of high-margin antifungal products declined due to fluctuations in customer demand, further impacting profit performance [1]

Core Viewpoint - 博瑞医药's net profit for the first three quarters of 2025 has significantly decreased by 71.64% year-on-year, primarily due to changes in flu trends and intensified market competition affecting the demand and pricing of antiviral products [1] Financial Performance - In Q3 2025, 博瑞医药 reported revenue of 337 million yuan, representing a year-on-year increase of 5.54% [1] - The net profit for Q3 2025 was 33.15 million yuan, showing a year-on-year decline of 53.34% [1] - For the first three quarters of 2025, the total revenue was 874 million yuan, which is a year-on-year decrease of 10.50% [1] - The net profit for the first three quarters was 50.32 million yuan, reflecting a year-on-year drop of 71.64% [1] Market Dynamics - The decline in performance is attributed to reduced demand and pricing for oseltamivir raw materials and formulations, as well as a significant decrease in revenue and gross profit from antiviral products [1] - Sales of high-margin antifungal products have also declined due to fluctuations in customer demand, further impacting profitability [1]