Core Viewpoint - Nanfang Energy (003035.SZ), a listed platform under China Southern Power Grid, is accelerating its business transformation, showing significant improvement in profitability and revenue growth in the first three quarters of 2025 [2][3][4]. Financial Performance - In the first three quarters of 2025, Nanfang Energy achieved operating revenue of 2.629 billion yuan, a year-on-year increase of 15.37% [2][3][4]. - The net profit for the same period was 342 million yuan, reflecting a substantial year-on-year growth of 125.08% [2][3][4]. - The net profit excluding non-recurring gains and losses (扣非净利润) reached 343 million yuan, up 134.8% year-on-year [2][3][4]. - Quarterly breakdown shows revenue growth of 20.35%, 21.73%, and 7.38% respectively, with net profit growth of 1.65%, 6.7%, and 345.07% across the three quarters [3][4]. Business Transformation - Since 2025, Nanfang Energy has been actively optimizing its business structure, focusing on its main operations, which have shown steady progress and improved profitability [2][4]. - The company reported new signed contracts worth 482 million yuan in its service business (engineering and digital services) during the first three quarters of 2025 [5]. Asset Management - Nanfang Energy plans to publicly transfer 51% of its stake in Hezhou Company through the Beijing Property Exchange, with a minimum transfer price of 160 million yuan [2][6][8]. - The company aims to enhance its strategic focus and optimize its business structure through this transaction, furthering its transformation and upgrading efforts [6][8]. Strategic Direction - The company is shifting its business model from "comprehensive energy" to a dual focus on "smart energy and energy conservation" [6]. - Nanfang Energy is committed to enhancing its core capabilities and achieving high-quality development by optimizing its core business layout [8].