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BYD (Stock Code: 002594.SZ, 1211.HK), as a leading enterprise in the industry, is intensifying its efforts to expand into overseas markets while actively investing in R&D funds to enhance its technological capabilities and address the increasingly fierce domestic market competition, thus driving forward on both fronts.

Amidst the accelerating evolution of unprecedented global changes, a new wave of technological revolution and industrial transformation is unfolding. The international balance of power is undergoing profound adjustments. China’s economy, navigating through challenges and headwinds, is steadfastly advancing towards innovation and excellence.

Since 2024, Chow Tai Fook Jewellery Group’s semi-annual revenue has continued to decline. In fiscal year 2025 (April 2024 to March 2025), total revenue was HKD 89.6 billion, down 17.5% year-on-year. From April to September 2025, total revenue reached HKD 39 billion, a year-on-year decrease of 1.1%, with the pace of decline significantly slowing.

In the third quarter of 2025, Li Auto (NYSE: LI; HKEX: 2015) recorded a net loss attributable to parent company shareholders of RMB 625 million (approximately USD 89.286 million), swinging to a loss on a year-over-year (YoY) basis and ending its streak of 11 consecutive profitable quarters.

In the third quarter of 2025, XPeng’s deliveries posted explosive growth, reaching 116,007 units, up 149.3% year-over-year (YoY) and 12.4% quarter-over-quarter (QoQ), setting a new record for quarterly deliveries.

As of the end of September 2025, Bilibili has achieved positive adjusted net profit for five consecutive quarters, with steady revenue growth and a significant improvement in profitability. Based on financial report data, this analysis will cover overall performance, current business revenue structure, and future trends.

In Q3 2025, Yum China maintained its “quarterly volatility, annual stability” operating pattern. Benefiting from back-to-school consumption and the Mid-Autumn Festival, core performance indicators rebounded significantly compared to Q2. Q3 2025 revenue reached USD 3.2 billion, up 4% year-on-year, marking a new high for 2025 and surpassing the Q1 peak of USD 2.981 billion.

JD.com (NASDAQ: JD) recently released Q3 2025 financial results, which show year-on-year revenue growth but a decline in profits. At the same time, the proportion of various business segments has shifted: while new businesses remain small in absolute terms, their revenue has grown by over 300% YoY, and service revenue has also shown strong growth.

Since initiating its strategic repositioning in 2024, Red Star Macalline (1528.HK) has been steadily building a new home furnishing ecosystem to reverse its revenue decline. Financial data for the first three quarters of 2025 show a stable to slightly rising gross margin, but revenue and net profit continue to decline, with growth pressures from non-operating factors yet to ease. However, excluding short-term fluctuations, the core business stability is gradually improving, with new business development and cost control delivering significant results. This injects momentum for sustainable growth and offers valuable insights for the home furnishing industry’s transformation.

On November 5, 2025, Goodbaby International released its financial report for the third quarter of 2025. As of September 30, 2025, the company achieved revenue of HKD 6.42 billion, a year-on-year decrease of 1.1%. The combination of international exchange rate fluctuations and intensified industry competition has pushed Goodbaby into a performance adjustment period.

In 2025, the global travel market continued its recovery, with upgraded consumer demand and easier cross-border travel fueling a high-quality development cycle for online travel. According to Ctrip’s financial report, Q2 2025 net revenue grew 16.2% year-on-year to RMB 14.8 billion, with H1 revenue reaching RMB 28.7 billion. Net profit for Q2 was RMB 4.9 billion, up from both the previous quarter and the same period last year. Ctrip leveraged opportunities in outbound and inbound tourism, amplifying its supply chain advantages to achieve dual growth in revenue and profit, while investments in technology and globalization laid a solid foundation for long-term growth.

In H1 2025, Meinian Health reported revenue of RMB 4.109 billion, down 2.28% year-on-year, mainly due to the traditional off-season for health check-ups and delayed client budgets. However, the revenue decline slowed in Q2 (down only 2.0% YoY). Net profit attributable to shareholders was -RMB 221 million, a smaller decrease than revenue, thanks to effective cost control and growth in high-margin AI product revenue. As of June 30, 2025, the company had served 9.55 million check-up clients, with 6 million at majority-owned centers. Single-center capacity utilization remained stable, laying a solid foundation for the upcoming peak season.

On June 30, 2025, MIXUE Group (2097.HK) delivered its first performance report since going public. In the first half of the year, MIXUE Group achieved revenue of 14.87 billion yuan (approximately USD 2.07 billion, a year-on-year increase of 39.3%), gross profit of 4.71 billion yuan (approximately USD 656 million, a year-on-year increase of 38.3%), and a gross profit margin that remained stable at 32% compared to the same period last year. Net profit reached 2.72 billion yuan (approximately USD 379 million, a year-on-year increase of 44.1%). Additionally, 9,796 new stores were added in the first half of 2025 compared to the same period last year, accounting for 18.5% of the global store count.

Pop Mart International Group Ltd () delivered a robust Q2 performance, alleviating market anxiety with both revenue and profit reaching new highs. The POP MART theme park’s visitor numbers in H1 2025 have already surpassed the full-year total for 2024, and the park is currently expanding and upgrading its attractions. Domestically, the brand has launched POP MART COLLECTION premium stores in Chengdu SKP and Beijing SKP-S, strategically targeting high-end consumer venues and enhancing its cultural and experiential appeal. In June, its jewelry brand popop opened in Shanghai Plaza 66 and Beijing China World Mall, further accelerating POP MART’s commercial expansion.

Compared to other new automakers, NIO insists on its battery swap strategy. As of March 2025, it had built 3,239 battery swap stations nationwide, covering over 90% of districts and counties.