EBJB(SH:600622) Xin Lang Zheng Quan·2025-10-30 13:04Core Viewpoint - The company, Everbright Jiabao, is a well-known real estate enterprise in China, facing significant challenges in revenue and net profit compared to industry leaders, while maintaining a higher gross margin than the industry average [2][3]. Group 1: Company Overview - Everbright Jiabao was established on August 17, 1994, and listed on the Shanghai Stock Exchange on December 3, 1992, with its headquarters located in Shanghai [1]. - The company's core business includes real estate and leasing operations, with extensive experience in real estate asset management and a unique business model [1]. Group 2: Financial Performance - For Q3 2025, Everbright Jiabao reported revenue of 971 million yuan, ranking 45th out of 69 in the industry, significantly lower than the top competitors, Poly Developments at 173.72 billion yuan and Vanke A at 161.39 billion yuan [2]. - The company's net profit for the same period was -512 million yuan, placing it 57th in the industry, again far behind industry leaders [2]. - The main business composition includes real estate leasing at 329 million yuan (51.33%), real estate asset management at 158 million yuan (24.59%), and commodity housing sales at 85.20 million yuan (13.28%) [2]. Group 3: Financial Ratios - As of Q3 2025, Everbright Jiabao's debt-to-asset ratio was 79.09%, an increase from 73.48% year-on-year, indicating a higher debt pressure compared to the industry average of 60.51% [3]. - The gross margin for Q3 2025 was 41.39%, up from 39.22% year-on-year, and above the industry average of 19.19%, reflecting strong profitability [3]. Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 9.65% to 58,200, while the average number of circulating A-shares held per shareholder increased by 10.68% to 25,800 [5]. - The Southern CSI Real Estate ETF Initiated Link A (004642) has exited the list of the top ten circulating shareholders [5]. Group 5: Leadership - The president, Chen Hongfei, has a rich background with a master's degree in real estate development from the University of Southern California and a master's degree in architecture from Beijing University of Civil Engineering and Architecture [4]. - Chen's compensation for 2023 and 2024 was reported as zero [4].