Greenland Holdings(SH:600606) Xin Lang Cai Jing·2025-10-30 16:49Core Viewpoint - Greenland Holdings is a large comprehensive enterprise group in China, leading in various fields including real estate, with a focus on real estate development and related industries [1] Group 1: Business Performance - In Q3 2025, Greenland Holdings reported revenue of 127.697 billion yuan, ranking 3rd in the industry out of 69 companies, surpassing the industry average of 11.727 billion yuan and median of 1.938 billion yuan, but below Poly Developments' 173.722 billion yuan and Vanke A's 161.388 billion yuan [2] - The main business composition includes construction and related industries at 43.322 billion yuan (45.85%), real estate and related industries at 34.289 billion yuan (36.29%), other income at 10.3 billion yuan (10.90%), and commodity sales and related industries at 8.987 billion yuan (9.51%) [2] - The net profit was -7.986 billion yuan, ranking 67th in the industry, significantly lower than Poly Developments' 6.515 billion yuan and *ST Zhongdi's 4.586 billion yuan, and below the industry average of -0.707 billion yuan and median of -9.3687 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Greenland Holdings had a debt-to-asset ratio of 89.52%, higher than the previous year's 86.62% and above the industry average of 60.51% [3] - The gross profit margin for Q3 2025 was 7.89%, down from 10.79% in the previous year and below the industry average of 19.19% [3] Group 3: Executive Compensation - Chairman Zhang Yuliang's compensation decreased from 4.5816 million yuan in 2023 to 2.9554 million yuan in 2024, a reduction of 1.6262 million yuan [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 3.50% to 126,000, while the average number of circulating A-shares held per account decreased by 3.39% to 111,600 [5] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited ranked fifth with 72.4594 million shares, an increase of 13.7207 million shares compared to the previous period [5]