TINAVI(SH:688277) Xin Lang Zheng Quan·2025-10-30 14:35Core Insights - Tianzhihang is a leading company in the orthopedic surgical robot field in China, established in 2010 and listed on the Shanghai Stock Exchange in 2020 [1] Financial Performance - For Q3 2025, Tianzhihang reported revenue of 187 million yuan, ranking 40th out of 42 in the industry, significantly lower than the top competitor Mindray Medical at 25.83 billion yuan [2] - The company's net profit was -125 million yuan, placing it last in the industry, with a stark contrast to Mindray Medical's 7.814 billion yuan [2] - The main business revenue composition includes orthopedic surgical navigation robots at 73.07 million yuan (58.31%), supporting equipment and consumables at 29.90 million yuan (23.86%), and technical services at 20.66 million yuan (16.49%) [2] Profitability and Debt Ratios - As of Q3 2025, Tianzhihang's debt-to-asset ratio was 27.29%, slightly above the industry average of 27.21% [3] - The gross profit margin was 70.72%, higher than the industry average of 48.67% [3] Executive Compensation - Chairman Zhang Songgen's salary decreased from 1.3433 million yuan in 2023 to 798,500 yuan in 2024, a reduction of 544,800 yuan [4] - General Manager Xu Jin's salary also decreased from 1.3323 million yuan in 2023 to 799,500 yuan in 2024, a reduction of 532,800 yuan [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 12.31% to 17,300 [5] - The average number of circulating A-shares held per shareholder decreased by 10.96% to 26,100 [5] - Notable shareholders include E Fund National Robot Industry ETF and Huaxia CSI Robot ETF, with significant holdings [5]