Core Insights - Company reported Q3 revenue of 3.10 billion yuan, a year-on-year increase of 50.62%, and net profit of 505 million yuan, up 27.5% year-on-year [1][3] - The growth was driven by robust performance in core etching equipment and explosive growth in thin film equipment revenue, which reached 403 million yuan, a staggering increase of 1332.69% year-on-year [1][3] Financial Performance - For the first three quarters of 2025, total revenue reached 8.06 billion yuan, a 46.40% increase compared to the same period last year [2][3] - The total profit for the period was 1.23 billion yuan, reflecting a 29.65% increase year-on-year [2] - The net profit attributable to shareholders was 1.21 billion yuan, up 32.66% year-on-year [2][4] - Basic earnings per share were 0.81 yuan, a 26.56% increase, while diluted earnings per share were 0.80 yuan, up 26.98% [2] Research and Development - R&D expenditure for the first three quarters reached 2.52 billion yuan, a 63.44% increase, with R&D spending accounting for 31.29% of total revenue [3][4] - The company emphasized the need for increased R&D investment to meet the surging market demand for new equipment [3] Product Development and Market Position - Significant advancements were made in key processes for advanced logic and memory device manufacturing, with notable increases in the shipment of high-end products [4][5] - The company is set to launch next-generation etching equipment, with development cycles reduced from three to five years to two years or less [5] Share Buyback and Stock Reduction - The company announced plans to reduce its holdings by up to 0.33% of total shares, equivalent to 209.63 million shares, to fulfill the purposes outlined in the share buyback report [5][6]