NRB CORPORATION(SZ:002708) Xin Lang Cai Jing·2025-10-30 15:28Core Viewpoint - Guangyang Co., Ltd. is a significant player in the automotive parts industry, focusing on precision bearings and other products, with a notable market and technological advantage in the automotive components sector [1] Group 1: Business Performance - In Q3 2025, Guangyang's revenue reached 1.89 billion yuan, ranking 35th among 103 companies in the industry, while the industry leader, Weichai Power, reported revenue of 170.57 billion yuan [2] - The main business composition includes bearing products at 742 million yuan (58.88%), synchronizer and planetary gear products at 249 million yuan (19.79%), and circuit board business at 133 million yuan (10.55%) [2] - The net profit for the same period was 53.94 million yuan, placing it 70th in the industry, with the industry average net profit being 27.5 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Guangyang's debt-to-asset ratio was 54.31%, higher than the previous year's 47.06% and above the industry average of 39.06% [3] - The gross profit margin for the period was 16.85%, an increase from 14.51% year-on-year, but still below the industry average of 21.53% [3] Group 3: Management and Shareholder Information - The chairman, Li Shuhua, received a salary of 1.3954 million yuan in 2024, a decrease of 349,600 yuan from 2023 [4] - The number of A-share shareholders increased by 12.42% to 58,700 as of September 30, 2025, while the average number of circulating A-shares held per shareholder decreased by 11.05% [5] - Notable business highlights include a rebound in the profitability of the synchronizer business and growth in the automotive electronics sector, with projected revenues of 2.774 billion, 3.7 billion, and 4.795 billion yuan for 2025 to 2027 [5]