建新股份Q3营收净利双降，架构调整与减持计划同步收官

Core Viewpoint - Hebei Jianxin Chemical Co., Ltd. reported a significant decline in its financial performance for Q3 2025, with a focus on governance restructuring and shareholder actions [1][2][4]. Financial Performance Summary - Q3 2025 revenue was 106 million yuan, a decrease of 16.71% year-on-year [2] - Net profit attributable to shareholders was 599,100 yuan, down 65.77% year-on-year [2] - Year-to-date revenue reached 344 million yuan, a decline of 23.35% compared to the same period in 2024 [2] - Year-to-date net profit attributable to shareholders was 5.976 million yuan, a decrease of 56.36% year-on-year [2] - The primary reason for the decline was a reduction in sales prices of main products [2] - Operating costs decreased by 84 million yuan, a decline of 21.09%, which was less than the revenue drop [2] - R&D expenses decreased by 33.83% due to some projects entering the capitalization phase [2] - Financial expenses increased by 40.25% due to reduced exchange gains and interest income [2] Cash Flow and Asset Summary - Net cash flow from operating activities improved to 29.46 million yuan, a 146.42% increase from the previous year [3] - Total assets as of September 30, 2025, were 1.666 billion yuan, a decrease of 0.43% from the previous year [3] - Shareholder equity was 1.504 billion yuan, a decrease of 0.06% from the previous year [3] - Construction in progress increased by 143.48% to 247 million yuan, indicating ongoing capacity expansion [3] Governance Structure Changes - The company announced a significant governance restructuring, eliminating the supervisory board and transferring its powers to the audit committee of the board [4][6] - The company’s articles of association were revised, including changes to the legal representative and shareholder rights [6][7] - The registered capital increased from 556 million yuan to 563 million yuan, with total shares adjusted to 563 million [7] - New rules were established for the board and shareholder meetings, lowering the proposal threshold for shareholders [7] Shareholder Actions - Senior management and a major shareholder's action plan for share reduction was disclosed [8][9] - Senior manager Gao Hui reduced her holdings by 11,770 shares at an average price of 7.09 yuan per share [8] - Major shareholder Zhu Shouchan's associate, Huang Jiqin, reduced her holdings by 2,630 shares, significantly below the planned reduction [9]