DDN(SZ:002263) Xin Lang Cai Jing·2025-10-30 11:39Core Viewpoint - Dazhongnan is a significant player in the domestic plastic film industry, focusing on the research, production, and sales of plastic films and new materials, with certain technical and scale advantages [1] Group 1: Business Performance - In Q3 2025, Dazhongnan reported revenue of 939 million yuan, ranking 13th among 19 companies in the industry, with the industry leader, Double Star New Materials, generating 3.893 billion yuan [2] - The revenue composition includes BOPP (capacitor film) at 215 million yuan (33.84%), BOPET film at 213 million yuan (33.43%), optical film at 125 million yuan (19.62%), and CPP film at 40.5 million yuan (6.36%) [2] - The net profit for the same period was 12.0585 million yuan, ranking 12th in the industry, with the industry leader, Dongcai Technology, reporting a net profit of 272 million yuan [2] Group 2: Financial Ratios - Dazhongnan's debt-to-asset ratio was 5.77% in Q3 2025, down from 6.00% year-on-year, significantly lower than the industry average of 33.88% [3] - The gross profit margin for Q3 2025 was 12.46%, an increase from 9.78% year-on-year, but still below the industry average of 18.54% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 3.58% to 131,700, while the average number of circulating A-shares held per account increased by 3.72% to 14,300 [5] - Hong Kong Central Clearing Limited is the second-largest circulating shareholder, holding 14.6517 million shares as a new shareholder [5] Group 4: Management Compensation - The chairman and general manager, Luo Ping, received a salary of 498,600 yuan in 2024, an increase of 44,200 yuan from 2023 [4]