钢研纳克的前世今生：2025年三季度营收8.06亿行业排第8，净利润8816.98万行业排第8

Core Viewpoint - Steel Research Nack is a leading enterprise in the domestic metal material testing field, with significant advantages in testing services for military and other sectors [1] Group 1: Business Performance - In Q3 2025, Steel Research Nack reported revenue of 806 million yuan, ranking 8th in the industry out of 21 companies, with the industry leader, China Measurement, generating 4.702 billion yuan [2] - The company's net profit for the same period was approximately 88.17 million yuan, also ranking 8th in the industry, with the top performer achieving 810 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Steel Research Nack's debt-to-asset ratio was 41.13%, an increase from 40.48% year-on-year, which is higher than the industry average of 26.67% [3] - The gross profit margin for the same period was 46.98%, up from 45.95% year-on-year, exceeding the industry average of 43.39% [3] Group 3: Executive Compensation - The chairman, Yang Zhigang, received a salary of 785,100 yuan in 2024, an increase of 99,100 yuan from 2023 [4] - The general manager, Zhang Xiuxin, earned 775,600 yuan in 2024, up from 618,800 yuan in 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 32.22% to 25,900, while the average number of circulating A-shares held per shareholder decreased by 23.74% to 14,600 [5] - Hong Kong Central Clearing Limited is the sixth-largest circulating shareholder, holding 1.5539 million shares, an increase of 538,200 shares from the previous period [5] Group 5: Analyst Ratings and Future Projections - Huatai Securities initiated coverage on Steel Research Nack with a "Buy" rating and a target price of 21.15 yuan, projecting net profits of 180 million, 212 million, and 251 million yuan for 2025 to 2027 [5] - Guangfa Securities also initiated coverage with a "Buy" rating, estimating net profits of 178 million, 212 million, and 250 million yuan for the same period, with a reasonable value of 16.26 yuan per share [5]