中国巨石 - 2025 年三季度业绩超预期

October 21, 2025 12:52 PM GMT China Jushi | Asia Pacific 3Q25 Earnings Beat Reaction to earnings Unchanged Modest upside Modest revision higher Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research Key Takeaways Jushi reported a 68% YoY increase in 9M25 net profit to Rmb2.6bn: The implied 3Q25 earnings came in at Rmb881mn, up 54% YoY but down 8% QoQ, better than our estimate of Rmb803mn. Excluding one-offs, recurring ne ...