Core Viewpoint - ST Lianchuang is a leading company in the polyurethane rigid foam composite ether industry, with a strong market position and technical advantages since its establishment in 2003 and listing in 2012 [1] Group 1: Business Performance - In Q3 2025, ST Lianchuang reported revenue of 690 million yuan, ranking 9th among 10 companies in the industry, with the industry leader, Juhua Co., achieving 20.394 billion yuan [2] - The revenue composition includes fluorine-containing new materials at 326 million yuan (73.60%), polyurethane new materials at 115 million yuan (25.86%), and others at 2.3792 million yuan (0.54%) [2] - The net profit for the same period was 17.1971 million yuan, also ranking 9th in the industry, with the top performer, Jumei Co., reporting 3.623 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, ST Lianchuang's debt-to-asset ratio was 19.84%, down from 20.41% year-on-year, significantly lower than the industry average of 40.15%, indicating good solvency [3] - The gross profit margin for the same period was 13.63%, an increase from 9.18% year-on-year, but still below the industry average of 23.64%, suggesting room for improvement in profitability [3] Group 3: Executive Compensation - The chairman, Li Hongpeng, received a salary of 714,300 yuan in 2024, an increase of 294,200 yuan from 2023 [4] - The president, Wang Xiandong, earned 796,800 yuan in 2024, up by 231,100 yuan from the previous year [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 2.12% to 59,000, while the average number of circulating A-shares held per household increased by 2.17% to 18,100 [5]
ST联创的前世今生：营收6.9亿元行业第九，净利润1719.71万元同样排第九，远低于头部企业
Xin Lang Zheng Quan·2025-10-29 12:09