Guangdong Hongda Blasting reports strong Q3 2025 revenue growth

Guangdong Hongda Blasting Group Co., Ltd. reported a significant increase in its third-quarter performance for 2025. Total operating income for the first nine months reached CNY 14.55bn, a 55.92% increase compared to CNY 9.33bn in the same period last year. Net profit attributable to shareholders was CNY 653.39m, up 0.54% from CNY 649.85m year-over-year.

The company's total assets grew by 60.61% to CNY 31.56bn by the end of the reporting period, from CNY 19.65bn at the end of the previous year. This growth was driven by several strategic initiatives, including the acquisition of Snow Peak Technology, which contributed to increased revenue, assets, and liabilities. The company also completed the acquisition of a 60% stake in Dalian Changzhilin Technology Co., Ltd. in September 2025.

Notable changes in the balance sheet include a 93.86% rise in accounts receivable due to the acquisition of Snow Peak Technology and expanded mining services. Inventory increased by 288.71%, and other current assets rose by 191.54%, partly due to the acquisition and purchase of fixed-term deposits. The company also saw significant increases in fixed assets (148.39%) and intangible assets (255.84%).