Shuifa Energas(SH:603318) Xin Lang Zheng Quan·2025-10-30 11:45Core Viewpoint - Water Development Gas was established in December 2002 and listed on the Shanghai Stock Exchange in April 2015, focusing on gas system engineering and equipment with strong technical capabilities [1] Group 1: Business Performance - For Q3 2025, Water Development Gas reported revenue of 1.807 billion yuan, ranking 21st among 31 companies in the industry, with the industry leader, New Hope, generating 95.856 billion yuan [2] - The revenue composition includes gas operation at 654 million yuan (54.84%), LNG business at 360 million yuan (30.28%), gas equipment at 105 million yuan (8.84%), distributed energy services at 68.34 million yuan (5.75%), and others at 3.51 million yuan (0.30%) [2] - The net profit for the same period was -4.648 million yuan, ranking 29th in the industry, with the industry average net profit being 466 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, the asset-liability ratio of Water Development Gas was 58.26%, higher than the industry average of 46.36% [3] - The gross profit margin for the same period was 14.28%, below the industry average of 16.52% [3] Group 3: Executive Compensation - The chairman, Zhu Xianlei, received a salary of 843,700 yuan in 2024, an increase of 392,600 yuan from 2023 [4] - The general manager, Li Qiming, had a salary of 731,600 yuan in 2024, a decrease of 906,800 yuan from the previous year [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 3.10% to 27,700, while the average number of circulating A-shares held per shareholder increased by 3.20% to 13,800 [5]