ZJBC(SZ:000889) Xin Lang Cai Jing·2025-10-30 14:20Core Viewpoint - Zhongjiabochuang is a leading provider of comprehensive communication solutions in China, with a focus on intelligent information transmission and communication network maintenance, but faces challenges in profitability and high debt levels [1][3]. Group 1: Company Overview - Zhongjiabochuang was established on May 16, 1997, and listed on the Shenzhen Stock Exchange on December 18, 1997, with its registered address in Qinhuangdao, Hebei Province [1]. - The company operates in the communication services sector, specifically in communication engineering and services, and is involved in various concepts such as low pricing and nuclear fusion [1]. Group 2: Financial Performance - For Q3 2025, Zhongjiabochuang reported revenue of 1.186 billion yuan, ranking 9th among 20 companies in the industry, while the industry leader, Runjian Co., achieved revenue of 7.271 billion yuan [2]. - The main revenue source is communication network maintenance, contributing 750 million yuan (96.66%), while intelligent information transmission generated 25.4465 million yuan (3.28%) [2]. - The net profit for the same period was -29.3636 million yuan, placing the company 14th in the industry, with the industry average net profit being -8.8501 million yuan [2]. Group 3: Financial Ratios - As of Q3 2025, Zhongjiabochuang's debt-to-asset ratio was 92.00%, significantly higher than the industry average of 52.90%, indicating substantial debt pressure [3]. - The gross profit margin was 7.52%, lower than the previous year's 8.88% and below the industry average of 15.25%, suggesting a need for improvement in profitability [3]. Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 4.96% to 38,000, while the average number of circulating A-shares held per shareholder increased by 5.21% to 22,900 [5]. Group 5: Leadership Compensation - The chairman and CEO, Wu Ying, received a salary of 20,000 yuan in 2024, unchanged from 2023 [4].