Beijing SinoHytec Co., Ltd. (Stock Code: 2402) released its unaudited third-quarter report for 2025. During the reporting period, operating income reached RMB31.58 million, marking an approximate 80.60% decline compared to the same period last year. The company attributed this drop to reduced fuel cell system sales against a contracting market backdrop.

Net profit attributable to the company’s shareholders recorded a loss of around RMB148 million. Factors such as lower sales and continued spending weighed on profitability. Meanwhile, the company recorded total R&D investment of approximately RMB11.06 million for the quarter, a decrease of 64.81% year-over-year, as it reevaluated research projects and controlled typical R&D outlays.

As of September 30, 2025, total assets stood at RMB4.11 billion, reflecting a 14.01% decrease relative to year-end 2024. The company’s management credits tighter supply chain practices, lower inventory, and receivable optimization for the shifting balance sheet figures.

Additionally, the board has formally terminated a plan to acquire assets through share issuance and raise supporting funds, approving the cancellation of the transaction and authorizing management to handle related follow-up items.

All data contained in the quarterly report remains unaudited and is presented under the responsibility of the board of directors. The company acknowledges that no false statements or material omissions exist within these disclosures and that all information is accurate and complete based on the report date.