Mango Excellent Media reports mixed Q3 results amid revenue and profit decline

Mango Excellent Media released its Q3 2025 financial report, detailing a 6.58% decrease in operating revenue to 3,099,444,315.33 yuan for the quarter and an 11.82% decrease year-to-date to 9,063,127,645.02 yuan. Net profit attributable to shareholders also fell by 33.47% to 252,473,958.70 yuan for the quarter and 29.67% to 1,015,871,409.64 yuan year-to-date. This decline is primarily attributed to strategic contraction in traditional e-commerce and increased content and R&D investment for Mango TV, despite a rise in advertising revenue during Q3.

Operating cash flow for the nine months surged by 307.14% to 674,318,887.17 yuan, with cash reserves exceeding 13 bn yuan by September 30, 2025. Significant balance sheet changes include a 45.68% decrease in monetary funds to 2,118,816,517.82 yuan, a 347.09% increase in accounts receivable financing to 260,215,258.74 yuan, and a 100% increase in non-current assets due within one year to 1,636,080,328.77 yuan.

The board of directors and supervisory board both convened on October 23, 2025, to review and approve the Q3 2025 report. The report has not been audited.