Core Insights - The report from Cinda Securities indicates that Saiwei Times achieved a net profit attributable to shareholders of 210 million yuan in the first three quarters of 2025, representing a year-on-year increase of 7.3% [1] - In Q3 2025, the company reported a net profit of 41 million yuan, showing a significant year-on-year increase of 200.9% [1] - The apparel category continues to grow, while the non-apparel business is expected to see a narrowing of its drag on overall performance [1] Brand Development - The company’s brand zeagoo celebrated its 12th anniversary by announcing a collaboration with renowned global figure Maye Musk, highlighting the brand's commitment to modern women's independence and confidence [1] Operational Performance - Despite short-term profitability pressures in the non-apparel accessories business, inventory levels are showing a positive downward trend, suggesting potential for future improvement [1] - The inventory turnover days for Q1-Q3 2025 were approximately 97.4 days, a decrease of about 6.5 days year-on-year [1] - The company generated a net cash inflow from operating activities of 742 million yuan in Q1-Q3 2025 [1]