H-Tech(SZ:000782) Xin Lang Cai Jing·2025-10-30 11:25Core Viewpoint - Hengshen New Materials is a significant player in the domestic nylon 6 industry, with comprehensive capabilities from raw materials to end products, despite facing challenges in revenue and profitability rankings within the industry [1][2]. Group 1: Business Performance - In Q3 2025, Hengshen New Materials reported revenue of 1.81 billion, ranking 5th in the industry, with the industry leader, Shenyang Chemical, generating 9.764 billion [2]. - The main business composition includes nylon 6 chips at 640 million, accounting for 52.51%, and nylon filament at 524 million, accounting for 42.98% [2]. - The net profit for the same period was -57.0491 million, also ranking 5th, with the industry leader, Huading, reporting a net profit of 183 million [2]. Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 43.39%, lower than the industry average of 50.53% [3]. - The gross profit margin for the same period was 3.26%, below the industry average of 8.46% [3]. Group 3: Management and Shareholder Information - The chairman, Chen Zhong, received a salary of 269,200, while the general manager, Guo Min, earned 1.2295 million, reflecting an increase from the previous year [4]. - The largest shareholder is Fujian Liheng Investment Co., Ltd., with Chen Jianlong as the actual controller [4]. Group 4: Shareholder Dynamics - As of September 30, 2025, the number of A-share shareholders decreased by 6.37% to 28,800, while the average number of circulating A-shares held per account increased by 6.80% to 18,300 [5]. Group 5: Strategic Highlights - The company has a full coverage capability from nylon chip raw materials to end products, with a diverse product range and extensive customer resources [5]. - The introduction of an industry leader as a controlling shareholder is expected to enhance management strategies and financial strength [5]. - Ongoing projects include the development of high-performance nylon differentiated fiber manufacturing, which is progressing well [5].