SKE’s Parent Company Yinghe Technology Reports 80% Drop in Q3 Net Profit, Revenue Up 22.85% Year-on-Year

Oct.28

Yinghe Technology (SZ: 300457), parent company of SKE, saw Q3 net profit plunge 80.3% to 31.06 million yuan, while revenue rose 22.85% to 2.52 billion yuan. The decline was mainly driven by higher costs and expenses.

2Firsts, October 28, 2025 — Shenzhen Yinghe Technology Co., Ltd. (SZ: 300457) released its financial report for the third quarter of 2025. During the reporting period, the company achieved operating revenue of 2.52 billion yuan, representing a 22.85% year-on-year increase, while net profit attributable to shareholders dropped sharply by 80.3% to 31.06 million yuan.

In the first three quarters of 2025, Yinghe recorded cumulative revenue of 6.784 billion yuan, up 4.72% year-on-year, with net profit of 302 million yuan, down 39.06%. Net profit excluding non-recurring gains and losses was 285 million yuan, a 40.78% decrease year-on-year.

The report attributed the profit decline mainly to cost increases caused by product restructuring and policy impacts on the company’s subsidiaries. Meanwhile, selling expenses rose 47.77% year-on-year, reflecting continued investment in new customer and market development.

As of the end of September, Yinghe’s total assets reached 18.027 billion yuan, up 22.12% from the end of last year, while shareholders’ equity remained stable at 6.573 billion yuan. Net cash flow from operating activities improved significantly to 152 million yuan year-on-year.

Yinghe Technology is the parent company of e-cigarette manufacturer SKE.

References:

[1] 第三季度报告

Also Read:

[1] Yinghe Technology's Sikary reports revenue of 1.274 billion yuan in 2025 first half, with net profit of 3.20 billion yuan

[2] Legal Analysis: Why SKE Lost the “CRYSTAL BAR” Trademark Case and Key Takeaways

[3] SKE Loses "Crystal Bar" Trademark Case: UK Court Upholds First-to-File Principle

[4] Yinghe: Will Disclose Info on Sikary Share Acquisition

[5] Scoil Parent Company Winbond Technology Reports 90% Drop in Q1 2025 Net Profit, Revenue Falls 28% to 1.338 Billion Yuan

[6] SKE 2024 results: revenue down 4.5% to 3.19 billion RMB, net income up 28% to 1.29 billion RMB

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