Core Viewpoint - ST Dongshi, a well-known driving training company in China, faces challenges in profitability and debt levels despite being ranked sixth in revenue within its industry [2][3]. Group 1: Company Overview - ST Dongshi was established on August 12, 2005, and listed on the Shanghai Stock Exchange on February 5, 2016, with its registered and office address in Beijing [1]. - The company specializes in motor vehicle driving training and has a high brand recognition and a comprehensive teaching system [1]. Group 2: Financial Performance - For Q3 2025, ST Dongshi reported revenue of 497 million yuan, ranking sixth out of eleven in its industry, with the top competitor, Xueda Education, generating 2.613 billion yuan [2]. - The main business revenue from driving training was 257 million yuan, accounting for 86.58% of total revenue, while flight training contributed 25.6 million yuan, or 8.64% [2]. - The net profit for the same period was -131 million yuan, placing the company last in its industry, with the average net profit being 32.31 million yuan [2]. Group 3: Financial Ratios - As of Q3 2025, ST Dongshi's debt-to-asset ratio was 73.52%, an increase from 57.39% year-on-year, and above the industry average of 54.63%, indicating increased debt pressure [3]. - The company's gross profit margin was 31.14%, down from 35.12% year-on-year and below the industry average of 47.34%, suggesting a need for improvement in profitability [3]. Group 4: Management Compensation - The chairman, Sun Xiang, and the general manager, Yan Wenhui, saw their salaries increase from 256,800 yuan in 2023 to 451,900 yuan in 2024, an increase of 195,100 yuan [4]. Group 5: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 8.63% to 13,500, while the average number of circulating A-shares held per shareholder decreased by 7.94% to 53,100 [5].
ST东时的前世今生：2025年三季度负债率73.52%高于行业平均，毛利率31.14%低于同类16.2个百分点
Xin Lang Cai Jing·2025-10-30 14:53