BHDS(SZ:000882) Xin Lang Cai Jing·2025-10-30 13:35Core Insights - Hualian Co., Ltd. is a leading shopping center operator in China, established in 1998 and listed on the Shenzhen Stock Exchange [1] Business Overview - The company primarily engages in shopping center operation management, cinema operation management, and commercial factoring [1] - It operates within the retail sector, specifically in general retail and department stores, and is associated with concepts such as new retail and the Hengqin New Area [1] Financial Performance - For Q3 2025, Hualian reported revenue of 930 million yuan, ranking 12th in the industry, significantly lower than the top competitors, Tianhong and Wangfujing, which reported revenues of 8.878 billion yuan and 7.709 billion yuan respectively [2] - The company's net profit for the same period was -138 million yuan, placing it 21st in the industry, with a notable gap compared to the leading firms [2] Profitability and Debt Ratios - Hualian's debt-to-asset ratio stood at 46.48% in Q3 2025, slightly above the previous year's 46.45% but below the industry average of 48.09% [3] - The gross profit margin was reported at 53.20%, a decrease from 54.82% year-on-year, yet still higher than the industry average of 45.34% [3] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 7.65% to 125,200, while the average number of shares held per shareholder increased by 8.28% to 21,800 [5] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the second largest, holding 51.1135 million shares, an increase of 12.0697 million shares from the previous period [5]