AGNM(SH:603429) Xin Lang Cai Jing·2025-10-30 23:33Core Viewpoint - Jiyou Co., Ltd. is a leading enterprise in the tobacco packaging materials sector, particularly in cigarette packaging paper, with a full industry chain advantage and high product quality and technology levels [1] Group 1: Business Performance - In Q3 2025, Jiyou's revenue was 128 million yuan, ranking 21st among 21 companies in the industry, significantly lower than the top company Yutong Technology at 12.601 billion yuan and the second company Hexing Packaging at 7.743 billion yuan [2] - The main business revenue from packaging printing products was 101 million yuan, accounting for 96.85% of total revenue, while other business revenue was 3.2729 million yuan, making up 3.15% [2] - The net profit for the same period was -6.5274 million yuan, ranking 18th in the industry, far below the top company Yutong Technology's 1.161 billion yuan and the second company Meiyingsen's 262 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Jiyou's debt-to-asset ratio was 7.17%, down from 13.48% year-on-year, significantly lower than the industry average of 35.30%, indicating strong debt repayment capability [3] - The gross profit margin for the same period was 9.45%, a substantial decrease from 36.60% year-on-year, and below the industry average of 21.53%, suggesting a need for improvement in profitability [3] Group 3: Leadership and Shareholder Information - The chairman and actual controller of the company, Xu Shanshui, saw his salary decrease from 732,000 yuan in 2023 to 712,000 yuan in 2024, a reduction of 20,000 yuan [4] - As of September 30, 2025, the number of A-share shareholders increased by 7.97% to 15,500, while the average number of circulating A-shares held per account decreased by 7.38% to 33,700 [5]