净利暴跌！尚纬股份拟募资逾9亿元“补血”

Core Viewpoint - Shangwei Co., Ltd. reported a significant decline in revenue and net profit for the first three quarters of 2025, indicating financial challenges and a need for strategic adjustments to improve performance [1][2]. Financial Performance - The company's revenue for the first three quarters was approximately 945 million yuan, a year-on-year decrease of 21.12% [1][2]. - The net profit attributable to shareholders was approximately -25.69 million yuan, a dramatic drop of 235.22% compared to the previous year [1][2]. - In the third quarter alone, revenue was 396 million yuan, down 15.40% year-on-year, while net profit was 5.93 million yuan, a decrease of 72.48% [1][2]. Business Background - Shangwei Co., Ltd. was established in July 2003 and went public in 2012, focusing on high-end special cables for nuclear power, rail transit, smart grids, and military ships [3]. - In May 2023, the company changed its controlling shareholder from Li Guangsheng to Fuhua Chemical Co., Ltd., with Zhang Hua becoming the actual controller [3]. Capital Raising and Financial Strategy - The company plans to issue shares to its controlling shareholder, Fuhua Chemical, at a price of 6.31 yuan per share, raising up to 1.144 billion yuan, with approximately 947 million yuan allocated for working capital [3]. - The company has been relying on short-term bank loans for liquidity, leading to a high debt level, with current liabilities accounting for 85.67% of total liabilities as of March 31, 2025 [4]. - Successful completion of the share issuance could reduce the company's debt-to-asset ratio and improve financial stability, enhancing operational capacity and market competitiveness [4]. Market Performance - As of October 17, the company's stock price decreased by 2.11% to 7.88 yuan per share, with a total market capitalization of 4.898 billion yuan [4]. - Since the beginning of 2025, the stock price has increased by 41.73% [4].