Shanghai Baosight Software (600845) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 was RMB 2.34 billion, down 22.43% year-over-year; YTD revenue was RMB 7.05 billion, down 27.72% year-over-year.

• Net profit attributable to shareholders in Q3 was RMB 385 million, down 35.73% year-over-year; YTD net profit was RMB 1.10 billion, down 43.13% year-over-year.

• Declines attributed to reduced demand from steel industry clients, industry restructuring, and cost control pressures impacting margins.

Financial highlights

• Q3 basic EPS was RMB 0.135, down 36.02% year-over-year; YTD basic EPS was RMB 0.385, down 43.38%.

• Q3 diluted EPS was RMB 0.134, down 35.58% year-over-year; YTD diluted EPS was RMB 0.381, down 43.05%.

• Q3 operating cash flow was RMB 1.84 billion, down 7.35% year-over-year.

• Gross margin and contract profitability declined due to client cost controls.

Outlook and guidance

• Management notes ongoing industry headwinds, especially in steel, with continued pressure on IT and automation demand.