On October 30, Shanghai Golden Union Commercial Management (Group) Co., Ltd. (603682) released its third-quarter financial report for 2025. The company reported total revenue of RMB 729 million, down 5.9% year-over-year, while net profit attributable to shareholders rose 128.0% to RMB 85.87 million. It achieved a turnaround in non-GAAP net profit, posting RMB 180,000 compared to a loss of RMB 2.6 million in the same period last year. Operating cash flow stood at RMB 457 million, down 14.8% year-over-year, with diluted EPS at RMB 0.1817.
In the third quarter alone, revenue declined 7.3% to RMB 238 million, and net profit attributable to shareholders fell 27.9% to RMB 10.42 million. Non-GAAP net loss narrowed to RMB 950,000 from RMB 3.03 million a year earlier, with diluted EPS at RMB 0.022.
As of the end of Q3, the company's total assets amounted to RMB 4.852 billion, down 11.6% from the end of the previous year, while shareholders' equity decreased 6.8% to RMB 950 million.
The report highlighted operational updates, including the management of 68 projects covering approximately 1.34 million square meters. To address market uncertainties, the company has optimized its portfolio by focusing on high-efficiency projects and exiting underperforming ones.
Government subsidies, financial investment gains, and changes in trading financial assets contributed to earnings. The report also disclosed share pledges by controlling shareholders, reflecting financing needs and ownership structure adjustments. Additionally, the company streamlined governance by dissolving its supervisory board and transferring oversight responsibilities to the board audit committee.
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