Friend (SH:605050) Xin Lang Cai Jing·2025-10-30 15:30Core Insights - Furan De is a leading steel logistics supply chain service provider in China, established in 2004 and listed on the Shanghai Stock Exchange in 2020, focusing on high-end automotive and home appliance industries [1] Group 1: Business Performance - In Q3 2025, Furan De reported revenue of 8.23 billion, ranking 8th in the industry, significantly lower than the top competitor Jianfa Group at 498.98 billion and second-place Wuchan Zhongda at 432.98 billion [2] - The company's net profit for the same period was 256 million, ranking 6th in the industry, again lower than Wuchan Zhongda's 4.51 billion and Xiamen Xiangyu's 2.11 billion [2] Group 2: Financial Ratios - As of Q3 2025, Furan De's debt-to-asset ratio was 50.26%, an increase from 48.83% year-on-year, but still below the industry average of 67.16% [3] - The gross profit margin for Q3 2025 was 5.76%, up from 4.73% year-on-year, and higher than the industry average of 5.58% [3] Group 3: Executive Compensation - Chairman Cui Jianhua's salary for 2024 was 1.1858 million, an increase of 18,000 from 2023, while General Manager Cui Jianbing's salary decreased to 1.0558 million, down 18,000 from the previous year [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 29.51% to 13,200, while the average number of shares held per shareholder decreased by 22.79% to 37,300 [5] - New major shareholders include Yongying Advanced Manufacturing Mixed Fund and Penghua Carbon Neutral Theme Mixed Fund, holding 11.1937 million and 5.7216 million shares respectively [5]