shenjian gufen(SZ:002361) Xin Lang Cai Jing·2025-10-30 15:49Core Viewpoint - Shenjian Co., Ltd. is a leading domestic manufacturer of polyester resin for powder coatings, with a strong full industry chain advantage and high product cost performance [1] Group 1: Business Performance - For Q3 2025, Shenjian's revenue reached 1.834 billion yuan, ranking 5th among 14 companies in the industry, while the industry leader, Shengquan Group, reported 8.072 billion yuan [2] - The revenue composition includes outdoor resin at 840 million yuan (72.68%), mixed resin at 177 million yuan (15.36%), high-end equipment manufacturing at 111 million yuan (9.62%), and other revenues at 27.13 million yuan (2.35%) [2] - The net profit for the same period was 20.663 million yuan, ranking 11th in the industry, with the top performer, Shengquan Group, achieving 782 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Shenjian's debt-to-asset ratio was 51.62%, higher than the previous year's 50.60% and above the industry average of 33.32% [3] - The gross profit margin for Q3 2025 was 12.28%, down from 13.13% year-on-year and below the industry average of 20.81% [3] Group 3: Management and Shareholder Information - The total compensation for General Manager Wu Changguo was 565,000 yuan, an increase of 78,800 yuan from the previous year [4] - As of September 30, 2025, the number of A-share shareholders decreased by 10.12% to 55,600, while the average number of circulating A-shares held per shareholder increased by 11.26% to 14,600 [5]