清越科技的前世今生：2025年Q3营收4.76亿行业第26，净利润-6067.71万行业第27，负债率低于行业平均

Core Viewpoint - Qingyue Technology, established in December 2010 and listed on the Shanghai Stock Exchange in December 2022, is a small and medium-sized display panel manufacturer specializing in personalized small and medium-sized display system solutions, particularly in the electronic paper display sector [1] Group 1: Business Performance - In Q3 2025, Qingyue Technology reported revenue of 476 million yuan, ranking 26th out of 30 in the industry, significantly lower than the industry leader Sanan Optoelectronics at 13.817 billion yuan and second-place Mulinsen at 12.178 billion yuan [2] - The company's main business, electronic paper modules, generated 527 million yuan, accounting for 70.01% of total revenue [2] - The net profit for the same period was -60.68 million yuan, placing the company 27th in the industry, with a notable gap compared to the industry leader Leyard at 295 million yuan and second-place Mulinsen at 213 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Qingyue Technology's debt-to-asset ratio was 40.01%, an increase from 35.18% in the previous year, which is lower than the industry average of 46.71%, indicating good debt repayment capability [3] - The gross profit margin for Q3 2025 was 7.59%, down from 10.02% in the previous year, and below the industry average of 20.22%, suggesting a need for improvement in profitability [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 12.49% to 7,053, while the average number of circulating A-shares held per account increased by 14.28% to 33,700 [5] - Among the top ten circulating shareholders, Minsheng Jia Yin Continuous Growth Mixed A ranked fourth with 3.196 million shares, an increase of 695,900 shares from the previous period [5]