SWSC(SH:600369) Xin Lang Cai Jing·2025-10-31 00:24Core Viewpoint - Changjiang Materials is a leading supplier of coated sand and waste sand recycling solutions in China, with a comprehensive product chain covering the entire coated sand industry [1] Group 1: Business Overview - Established in August 1979 and listed on the Shenzhen Stock Exchange in December 2021, Changjiang Materials is based in Chongqing [1] - The company specializes in the research, production, and sales of casting silica sand, coated sand, and sand cores, as well as the development of recycling technology and equipment for casting waste sand [1] Group 2: Financial Performance - For Q3 2025, Changjiang Materials reported revenue of 834 million yuan, ranking 3rd in the industry, with the top competitor, Suotong Development, generating 12.762 billion yuan [2] - The company's net profit for the same period was 116 million yuan, placing it 4th in the industry, with the leading competitor achieving a net profit of 886 million yuan [2] Group 3: Financial Ratios - As of Q3 2025, Changjiang Materials had a debt-to-asset ratio of 18.92%, lower than the industry average of 32.68%, indicating strong solvency [3] - The gross profit margin for the company was 26.82%, higher than the industry average of 23.72%, reflecting good profitability [3] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 4.20% to 17,900, while the average number of circulating A-shares held per shareholder increased by 4.39% to 4,290.26 [5] - The company has shown growth in revenue and net profit year-on-year, with significant contributions from its core products [5] Group 5: Future Outlook - The company is expected to benefit from the growth in the automotive and domestic oil and gas extraction industries, with a projected compound annual growth rate of 26.46% for net profit over the next three years [5]