Mango Excellent Media Co. (300413) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 was ¥3.10 billion, down 6.58% year-over-year; year-to-date revenue was ¥9.06 billion, down 11.82% year-over-year.

• Net profit attributable to shareholders for Q3 was ¥252 million, down 33.47% year-over-year; year-to-date net profit was ¥1.02 billion, down 29.67%.

• Decline in revenue mainly due to strategic contraction of traditional e-commerce; core Mango TV platform revenue remained stable.

• Increased investment in premium content and R&D led to higher costs in internet video business.

• Operating cash flow for the first three quarters was ¥674 million, up 307.14% year-over-year.

Financial highlights

• Gross margin and net margin declined due to increased content and R&D spending.

• Basic and diluted EPS for Q3 was ¥0.13, down 35% year-over-year; year-to-date EPS was ¥0.54, down 29.87%.

• Total assets at period end were ¥32.95 billion, up 1.29% from year-end 2024.

• Shareholders’ equity increased 2.97% to ¥23.16 billion.

Outlook and guidance

• Focus remains on developing Mango IP derivatives and strengthening the core digital platform.

• Advertising business showed signs of recovery with year-over-year growth in Q3.

• Cash reserves of over ¥13 billion at September-end support continued investment in content, technology, and new business initiatives.