Xin Lang Cai Jing·2025-10-30 15:59Core Viewpoint - China Shipbuilding Defense has shown significant growth in revenue and net profit, positioning itself as a strong player in the defense and shipbuilding industry, with a focus on high-end marine power equipment and related services [2][6]. Group 1: Company Overview - Established on October 21, 1994, China Shipbuilding Defense is a core shipbuilding enterprise under China Shipbuilding Group, with a strong capability in multi-type vessel construction and national-level R&D platforms [1]. - The company specializes in high-end marine power equipment R&D, manufacturing, system integration, sales, and services, covering various sectors including aircraft carriers, state-owned enterprise reform, and nuclear power [1]. Group 2: Financial Performance - For Q3 2025, China Shipbuilding Defense reported revenue of 14.315 billion, ranking 2nd in the industry, slightly below the industry average of 14.413 billion and significantly above the industry median of 1.544 billion [2]. - The net profit for the same period was 732 million, also ranking 2nd, but below the industry average of 1.008 billion and the industry leader's profit of 7.841 billion [2]. Group 3: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 61.76%, an increase from 57.63% year-on-year, and above the industry average of 41.76% [3]. - The gross profit margin for Q3 2025 was 11.36%, up from 8.69% year-on-year, but still below the industry average of 20.95% [3]. Group 4: Leadership - The chairman, Luo Bing, has a rich background in the shipbuilding industry, having held significant positions in various shipbuilding companies and currently serving as chairman of multiple subsidiaries [4]. Group 5: Shareholder Information - As of March 11, 2014, the number of A-share shareholders decreased by 4.81% to 52,300, with an average holding of 8,384.26 shares, which increased by 5.05% [5]. - By September 30, 2025, major shareholders included various ETFs and mutual funds, with notable increases in holdings from certain funds [5]. Group 6: Growth Prospects - In the first half of 2025, the company saw a year-on-year net profit growth of 258.46%, with significant increases in revenue across various segments, including a 24.08% rise in shipbuilding products [6]. - New orders received in the first half of 2025 totaled 15.498 billion, a 64.6% increase year-on-year, with a total contract value of approximately 68 billion in hand [6].