Core Viewpoint - China Railway Special Cargo is a leading railway logistics company in China, primarily engaged in logistics services for commodity vehicles, cold chain, and oversized cargo, with comprehensive industry chain capabilities [1] Group 1: Business Performance - In Q3 2025, China Railway Special Cargo reported revenue of 8.453 billion yuan, ranking 5th among 7 companies in the industry, with the top company, Datong-Qinhuangdao Railway, generating 57.058 billion yuan [2] - The main business composition includes commodity vehicle logistics at 4.567 billion yuan (84.66%), other logistics at 382 million yuan (7.08%), cold chain logistics at 317 million yuan (5.88%), oversized cargo transport at 75.4385 million yuan (1.40%), and tank truck business at 52.7285 million yuan (0.98%) [2] - The net profit for the same period was 473 million yuan, also ranking 5th in the industry, with the leading company, Beijing-Shanghai High-Speed Railway, achieving 10.365 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, the asset-liability ratio of China Railway Special Cargo was 9.19%, down from 10.94% year-on-year, significantly lower than the industry average of 21.36% [3] - The gross profit margin for Q3 2025 was 8.59%, a decrease from 10.06% year-on-year, and below the industry average of 16.06% [3] Group 3: Executive Compensation - The chairman, Yu Yongli, received a salary of 707,800 yuan in 2024, an increase of 78,800 yuan from 2023 [4] - The general manager, Gu Guangming, also received a salary of 707,800 yuan in 2024, which is an increase of 82,800 yuan from 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 5.51% to 71,700 [5] - The average number of circulating A-shares held per shareholder decreased by 5.22% to 62,000 [5] - Among the top ten circulating shareholders, the Southern CSI 500 ETF held 12.8812 million shares, a decrease of 300,200 shares from the previous period [5]
中铁特货的前世今生：2025年三季度营收84.53亿行业排第五，净利润4.73亿低于行业均值