TENGEN(SH:605066) Xin Lang Cai Jing·2025-10-30 15:37Core Viewpoint - Tianzheng Electric is a well-known enterprise in the low-voltage electrical field in China, focusing on the research, production, and sales of low-voltage electrical products, with a full industry chain advantage [1] Group 1: Business Performance - In Q3 2025, Tianzheng Electric's revenue was 2.17 billion yuan, ranking 8th among 26 companies in the industry, with the industry leader, Chint Electric, generating 46.396 billion yuan [2] - The main business composition includes distribution electrical products at 1.211 billion yuan (41.51% of revenue) and terminal electrical products at 588 million yuan (20.15% of revenue) [2] - The net profit for the same period was 105 million yuan, also ranking 8th in the industry, with the industry leader's net profit at 5.656 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Tianzheng Electric's debt-to-asset ratio was 44.58%, higher than the previous year's 43.78% and above the industry average of 40.49%, indicating slightly greater debt pressure [3] - The gross profit margin for Q3 2025 was 24.92%, lower than the previous year's 26.08% but higher than the industry average of 23.98%, suggesting a relatively strong profitability position [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 29.66% to 37,300, while the average number of circulating A-shares held per account increased by 42.16% to 13,500 [5] - New significant shareholders include Guangfa Quantitative Multi-Factor Mixed A, holding 2.7646 million shares, and招商量化精选股票发起式A, holding 2.3 million shares [5] Group 4: Executive Compensation - The chairman and general manager, Gao Tianle, received a salary of 1.4638 million yuan in 2024, a decrease of 81,700 yuan from 2023 [4]