Chongqing Zhifei Biological Products Co (300122) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 was ¥7.63 billion, down 66.53% year-over-year, with Q3 revenue at ¥2.70 billion, a 40.26% decrease compared to the same quarter last year.

• Net loss attributable to shareholders was ¥-1.21 billion for the period, compared to a profit of ¥2.12 billion in the prior year.

• Basic and diluted EPS were both -0.5040 for the nine-month period, a significant decline from 0.8864 year-over-year.

Financial highlights

• Operating cash flow for the period was ¥2.99 billion, a 201.18% increase year-over-year, mainly due to reduced payments for agency product purchases.

• Gross margin and operating profit both declined sharply, with operating costs and expenses falling in line with lower sales.

• Non-recurring items contributed ¥20.33 million to net profit, mainly from government subsidies and asset disposals.

Outlook and guidance

• Management attributes the revenue and profit decline to underperformance in market sales.

• No explicit forward-looking guidance provided, but explanations for major changes in financials are included.