Keyvia Electric(SZ:300407) Xin Lang Cai Jing·2025-10-31 00:22Core Viewpoint - 凯发电气 is a leading enterprise in the electrification railway and urban rail transit traction power supply sector in China, with a full industry chain advantage [1] Group 1: Business Overview - Established on January 25, 2000, and listed on the Shenzhen Stock Exchange on December 3, 2014, with its registered and office address in Tianjin [1] - Main business includes R&D, production, and sales of core products for electrified railway and urban rail transit traction power supply systems, as well as consulting, design, installation, debugging, and service [1] - The company belongs to the power equipment industry, specifically in grid equipment and automation [1] Group 2: Financial Performance - For Q3 2025, 凯发电气 reported revenue of 1.805 billion yuan, ranking 11th in the industry, significantly lower than the top competitor, 国电南瑞, which had 38.577 billion yuan [2] - The revenue breakdown shows that railway revenue was 711 million yuan (65.91%), urban rail transit revenue was 365 million yuan (33.81%), and other revenue was 3.0493 million yuan (0.28%) [2] - Net profit for the same period was 66.9273 million yuan, ranking 15th in the industry, also significantly lower than 国电南瑞's 5.146 billion yuan [2] Group 3: Financial Ratios - As of Q3 2025, 凯发电气's asset-liability ratio was 43.36%, higher than the previous year's 41.05% and above the industry average of 40.35% [3] - The gross profit margin for Q3 2025 was 23.22%, slightly up from 23.16% year-on-year but below the industry average of 31.57% [3] Group 4: Executive Compensation - The chairman, 孔祥洲, received a salary of 927,500 yuan in 2024, an increase of 409,100 yuan from 2023 [4] - The general manager, 王传启, earned 790,300 yuan in 2024, up by 294,700 yuan from the previous year [4] Group 5: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 1.77% to 16,900 [5] - The average number of circulating A-shares held per shareholder increased by 1.39% to 14,300 [5] - 博道成长智航股票A (013641) became the eighth largest circulating shareholder with 3.1068 million shares [5]