Shenzhen YHLO Biotech (688575) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 was RMB 478.27 million, up 10.25% year-over-year; net profit attributable to shareholders was RMB 34.15 million, down 25.12% year-over-year.

• For the first nine months, revenue was RMB 1.29 billion, down 7.69% year-over-year; net profit attributable to shareholders was RMB 60.42 million, down 72.36% year-over-year.

• Decline in profit mainly due to lower domestic demand and fair value losses on financial assets.

Financial highlights

• Q3 2025 EPS was RMB 0.06, down 25% year-over-year; nine-month EPS was RMB 0.11, down 71.05%.

• Gross margin and R&D investment both declined; R&D spending for nine months was RMB 208.78 million, down 9.6%.

• Operating cash flow for nine months was RMB 64.99 million, down 79.56% year-over-year.

• Total assets at Q3-end were RMB 4.24 billion, down 4.02% from year-end 2024.

Outlook and guidance

• Management highlights continued pressure from domestic policy and market demand, but overseas business and new product launches are expected to support future growth.