顺博合金的前世今生：2025年三季度营收行业第十，净利润行业第十五，低于行业平均水平

Core Insights - Shunbo Alloy is a leading company in the domestic recycled aluminum alloy sector, focusing on the production and sales of recycled aluminum alloy ingots and liquid products, with a full industry chain advantage [1] Financial Performance - For Q3 2025, Shunbo Alloy reported revenue of 11.266 billion yuan, ranking 10th in the industry, significantly lower than China Aluminum's 176.516 billion yuan and Innovation New Material's 58.716 billion yuan, and below the industry average of 16.562 billion yuan [2] - The main business composition includes aluminum alloy ingots (liquid) at 6.648 billion yuan, accounting for 93.30%, and rolled aluminum products at 376 million yuan, accounting for 5.28% [2] - The net profit for the same period was 244 million yuan, ranking 15th in the industry, again far below the top performers [2] Financial Ratios - As of Q3 2025, Shunbo Alloy's debt-to-asset ratio was 77.96%, higher than the previous year's 73.31% and above the industry average of 46.20% [3] - The gross profit margin was reported at 3.05%, slightly down from 3.17% year-on-year and significantly below the industry average of 10.69% [3] Executive Compensation - The chairman, Wang Zhenjian, received a salary of 465,000 yuan in 2024, a decrease of 3,000 yuan from 2023 [4] - The president, Wang Zengchao, earned 439,000 yuan in 2024, also down by 3,000 yuan from the previous year [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 16.59% to 28,000, while the average number of circulating A-shares held per account increased by 19.89% to 14,900 [5] - Among the top ten circulating shareholders, new entrants include Everbright Prudential Credit Enhancement Bond A and Ping An Dingxin Bond A [5]