CEM(SZ:002980) Xin Lang Cai Jing·2025-10-27 12:28Core Insights - The company reported a decline in revenue and net profit for the first three quarters of 2025, with revenue at 530 million yuan, down 5.49% year-on-year, and net profit at approximately 64.89 million yuan, down 40.94% year-on-year [1][2] Financial Performance - Basic earnings per share for the reporting period were 0.34 yuan, with a weighted average return on equity of 5.93% [2] - The company's gross margin for the first three quarters was 43.84%, a decrease of 3.04 percentage points year-on-year, while the net margin was 12.10%, down 7.61 percentage points from the previous year [2] - In Q3 2025, the gross margin was 44.65%, down 4.41 percentage points year-on-year but up 1.09 percentage points quarter-on-quarter; the net margin was 11.61%, down 8.53 percentage points year-on-year but up 2.58 percentage points from the previous quarter [2] Expense Analysis - Total operating expenses for Q3 2025 were 156 million yuan, an increase of 20.61 million yuan year-on-year, with an expense ratio of 29.52%, up 5.30 percentage points from the previous year [2] - Breakdown of expenses showed sales expenses increased by 3.45%, management expenses surged by 57.94%, R&D expenses rose by 8.36%, while financial expenses decreased significantly by 2475.24% [2] Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 16,700, a decrease of 2,844 from the end of the previous half-year, representing a decline of 14.58% [2] - The average market value per shareholder increased from 195,600 yuan at the end of the previous half-year to 282,700 yuan, an increase of 44.53% [2] Company Overview - Shenzhen Huashengchang Technology Industry Co., Ltd. is located in Nanshan District, Shenzhen, Guangdong Province, and was established on March 26, 1991, with its listing date on April 15, 2020 [3] - The company's main business involves the production and sales of professional instruments and meters, with revenue composition including professional instruments (45.09%), general instruments (37.75%), professional testing and scientific analysis instruments (11.65%), new energy products (2.58%), and others [3] - The company belongs to the electrical equipment industry, specifically in power grid equipment and electrical instruments, and is associated with concepts such as DeepSeek, AI Agent, tire pressure monitoring, Huawei Harmony, and charging piles [3]