The Chinese manufacturing and retail giant reported a 16% drop in net income attributable to shareholders to $278,717,000 from $331,658,000 for the first nine months of 2025, on 1% lower revenues of $6,017,405,000 down from $6,075,307,000. YY has tightly managed expenses this year, reducing total SG&A by more than 3% in dollars and by 40 basis points to 16.7% of the top line. Selling and distribution expenses decreased by 7%, while administrative costs increased by 2%. Equity method share of associates and joint ventures dropped 5% to $55.7 million.

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