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

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn

Notice

1. This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2. The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3. This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4. Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

Copyright

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

AI Assistance Disclaimer

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

BAT Malaysia Reports Q3 Results: Net Profit Plummets 89.5%, Stock Price Drops 15%

BAT Malaysia's Q3 results show a sharp 89.5% drop in net profit to RM7 million (approximately $150,000 USD), with revenue also falling to RM300 million (approximately $6.4 million USD). The company attributed the decline to new regulatory requirements, including pictorial health warnings and the retail display ban. Its stock dropped 15.25% to RM4.78 (approximately $1.02 USD).

Oct.31 by 2FIRSTS.ai

2Firsts Observation｜Japan Tobacco Opens Ploom Counter at Dubai International Airport with Scent-Based Experience Display

2Firsts observed that Japan Tobacco’s heated tobacco brand Ploom has set up an independent retail counter at Dubai International Airport’s duty-free zone, showcasing its new Ploom AURA device. The counter features an interactive scent-release system that allows consumers to experience flavors through aroma rather than inhalation, offering a new approach to product display in smoke-free environments.

Nov.13 by 2FIRSTS.ai

Sweden on Track to Become Europe’s First Smoke-Free Nation as Snus and Nicotine Pouches Support Declining Smoking Rates

According to Gulf News, Sweden is nearing the World Health Organization’s smoke-free threshold, with daily smoking falling below 5%. Two decades of public health efforts and the growing use of lower-risk alternatives such as Snus and tobacco-free nicotine pouches have contributed to this shift, alongside declines in tobacco-related deaths and lung cancer cases.

Dec.04 by 2FIRSTS.ai

From Partnership to Acquisition: Why KT&G Is Betting on the Global Nicotine Pouch Market

As global competition in the nicotine pouch market accelerates, Korea’s tobacco major KT&G has moved with a “Partnership + Acquisition” strategy, teaming up with Altria to acquire Nordic pouch maker Another Snus Factory (brand “LOOP”). Why deploy capital now, and why take this route? Drawing on company disclosures, regulatory monitoring and on-site observations from InterTabac Dortmund, 2Firsts analyzes KT&G’s strategic calculus and the signals behind this move.