WG Tech(SH:603773) Xin Lang Cai Jing·2025-10-30 14:10Core Viewpoint - Woge Optoelectronics, a leading manufacturer of glass-based circuit boards and related electronic devices in China, has shown steady revenue growth but faces challenges in profitability, with a significant net loss reported in the latest quarter [2][5]. Group 1: Company Overview - Woge Optoelectronics was established on December 14, 2009, and went public on April 17, 2018, on the Shanghai Stock Exchange, with its headquarters in Xinyu, Jiangxi Province [1]. - The company specializes in the research, development, and manufacturing of glass-based circuit boards and is one of the few globally with full-process capabilities in this area [1]. Group 2: Financial Performance - For Q3 2025, Woge Optoelectronics reported revenue of 1.9 billion CNY, ranking 19th among 38 companies in the industry, while the industry leader, BOE Technology Group, achieved revenue of 154.55 billion CNY [2]. - The company's net profit for the same period was -436.53 million CNY, placing it 33rd in the industry, with the average net profit for the sector being 66.81 million CNY [2]. Group 3: Financial Ratios - As of Q3 2025, Woge Optoelectronics had a debt-to-asset ratio of 68.67%, which is higher than the industry average of 45.77% [3]. - The gross profit margin for the company was 18.48%, exceeding both the previous year's margin of 16.74% and the industry average of 14.89% [3]. Group 4: Management Compensation - The chairman, Yi Weihua, received a salary of 1.083 million CNY in 2024, an increase from 1.0751 million CNY in 2023 [4]. - The general manager, Zhang Chunjiao, earned 970,200 CNY in 2024, up from 956,000 CNY in 2023 [4]. Group 5: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 5.55% to 20,700, with an average holding of 10,900 shares per shareholder [5]. - The top ten circulating shareholders include Changcheng Jiujia Innovation Growth Mixed Fund, holding 5.5 million shares, and Hong Kong Central Clearing Limited, a new shareholder with 1.9198 million shares [5]. Group 6: Future Outlook - The company is expected to see stable growth in its traditional glass processing business, with new projects like the Chengdu Woge glass-based etching project anticipated to begin trial production in Q4 2025 [5]. - The glass-based Mini LED backlight products are already in mass production, with expectations for further advancements in product yield and development within the next few months [6].