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.
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