FiberHome(SH:600498) Xin Lang Zheng Quan·2025-10-30 11:45Core Viewpoint - The company, Fenghuo Communication, is a high-tech enterprise specializing in network information security and mobile information products, ranking third in revenue among its industry peers in Q3 2025 [1][2]. Group 1: Business Performance - In Q3 2025, Fenghuo Communication achieved a revenue of 17.072 billion yuan, ranking third among 36 companies in the industry [2]. - The company's main business segments include communication system equipment (8.728 billion yuan, 78.51%), optical fiber cables (2.004 billion yuan, 18.02%), data network products (220 million yuan, 1.98%), and others (165 million yuan, 1.49%) [2]. - The net profit for the same period was 505 million yuan, placing it eighth in the industry [2]. Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 61.42%, down from 64.96% year-on-year, but still above the industry average of 38.12% [3]. - The gross profit margin for Q3 2025 was 22.42%, slightly up from 22.13% year-on-year, yet lower than the industry average of 30.08% [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 6.90% to 119,300, while the average number of circulating A-shares held per shareholder increased by 9.08% to 9,928.7 [5]. - Major shareholders include Hong Kong Central Clearing Limited and Southern CSI 500 ETF, with significant increases in their holdings [5]. Group 4: Management Compensation - The chairman, Zeng Jun, saw a salary reduction from 1.627 million yuan in 2023 to 1.537 million yuan in 2024, a decrease of 90,000 yuan [4]. - The president, Lan Hai, experienced a salary increase from 1.451 million yuan in 2023 to 1.480 million yuan in 2024, an increase of 29,000 yuan [4]. Group 5: Future Outlook and Business Highlights - The company plans to repurchase shares worth 75 to 150 million yuan to reduce registered capital, indicating confidence in its development [6]. - Key business highlights include being a core supplier of multimode optical fibers, achieving over 50% compound annual growth rate in capacity over the past three years, and plans to reach an annual capacity of 4 million core kilometers by 2026 [6]. - The company has made breakthroughs in hollow-core fiber technology and has become a partner of Huawei, enhancing its capabilities in providing complete solutions [6].