Beijing Tongrentang (600085) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 was RMB 3.54 billion, down 12.76% year-over-year; YTD revenue reached RMB 13.31 billion, a 3.70% decrease year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 232.06 million, down 29.49% year-over-year; YTD net profit was RMB 1.18 billion, down 12.78% year-over-year.

• Declines in profit and revenue were mainly due to adverse market conditions and reduced sales.

Financial highlights

• Q3 gross margin and operating income both declined, with total profit for Q3 at RMB 346.57 million, down 36.43% year-over-year.

• Basic EPS for Q3 was RMB 0.169, down 29.58% year-over-year; YTD basic EPS was RMB 0.859, down 12.70%.

• Total assets at quarter-end were RMB 31.82 billion, up 1.99% from year-end 2024.

• Net cash flow from operating activities for the first nine months was RMB 1.99 billion, a significant improvement from a negative RMB 52.5 million in the prior year.

Outlook and guidance

• Management attributes profit and revenue declines to market environment and expects continued pressure on sales.