万润新能的前世今生：2025年Q3营收73.36亿行业第十四，净利润-3.74亿行业第四十二

Core Viewpoint - Wanrun New Energy, a leading domestic manufacturer of lithium iron phosphate cathode materials, has shown strong revenue performance but faces challenges in profitability and debt levels [1][2][3]. Group 1: Company Overview - Wanrun New Energy was established on December 24, 2010, and listed on the Shanghai Stock Exchange on September 29, 2022, with its headquarters in Shiyan, Hubei Province [1]. - The company specializes in the research, production, sales, and service of lithium battery cathode materials, particularly lithium iron phosphate [1]. Group 2: Financial Performance - For Q3 2025, Wanrun New Energy reported revenue of 7.336 billion yuan, ranking 14th out of 44 in the industry, surpassing the industry average of 6.52 billion yuan but significantly lower than the top competitors [2]. - The main business revenue from lithium iron phosphate was 4.28 billion yuan, accounting for 96.49% of total revenue, while net profit was -374 million yuan, placing the company 42nd in the industry [2]. Group 3: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 71.57%, higher than the previous year's 65.09% and above the industry average of 51.96% [3]. - The gross profit margin for Q3 2025 was 2.62%, an improvement from 0.56% year-on-year but still below the industry average of 10.89% [3]. Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 18.84% to 16,600, with an average holding of 5,099.57 shares, a decrease of 15.85% from the previous period [5].