lu'an EED(SH:601699) Xin Lang Cai Jing·2025-10-30 12:21Core Viewpoint - Lu'an Environmental Energy is a leading enterprise in the domestic coking coal and blast furnace injection coal production, with significant technological advantages in using Lu'an anthracite for blast furnace injection [1] Group 1: Business Performance - In Q3 2025, Lu'an Environmental Energy achieved a revenue of 21.1 billion, ranking third among 12 companies in the industry [2] - The company's net profit for the same period was 1.217 billion, also ranking third in the industry [2] - The main business revenue composition includes coal revenue of 13.036 billion (92.66%), coke revenue of 778 million (5.53%), and other revenue of 255 million (1.81%) [2] Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 40.45%, down from 47.15% year-on-year, which is lower than the industry average of 53.50% [3] - The gross profit margin for the same period was 34.10%, down from 40.71% year-on-year, but still higher than the industry average of 22.28% [3] Group 3: Management and Shareholder Information - The total compensation for General Manager Shi Hongmiao decreased by 107,800 compared to the previous year, amounting to 570,600 in 2024 [4] - As of September 30, 2025, the number of A-share shareholders decreased by 9.60% to 73,200, while the average number of circulating A-shares held per household increased by 10.63% to 40,900 [5] Group 4: Strategic Outlook - The company is under pressure in 2025 due to rising costs and declining coal prices, impacting profit margins [6] - Lu'an Environmental Energy has a strategic focus on resource expansion, having obtained exploration rights for the Shama block, increasing coal resources by over 800 million tons [6] - The company has advanced production capacity of 49.7 million tons per year and is committed to launching an overall listing of coal assets [6]