Greenda(SH:603931) Xin Lang Cai Jing·2025-10-31 02:11Core Viewpoint - Grinda, a leading company in the ultra-pure wet electronic chemicals sector in China, has shown significant revenue and profit figures but remains below industry leaders in both metrics [1][2]. Group 1: Company Overview - Grinda was established on October 17, 2001, and went public on August 19, 2020, on the Shanghai Stock Exchange, with its headquarters in Hangzhou, Zhejiang Province [1]. - The company specializes in the research, production, and sales of ultra-pure wet electronic chemicals, holding a full industry chain advantage [1]. Group 2: Financial Performance - For Q3 2025, Grinda reported revenue of 481 million yuan, ranking 29th out of 35 in the industry, significantly lower than the top competitor, Xilong Science, which achieved 5.324 billion yuan [2]. - The main business segment, wet electronic chemicals, generated 309 million yuan, accounting for 98.16% of total revenue, while by-products contributed 5.25 million yuan (1.66%) and other revenues 562,500 yuan (0.18%) [2]. - The net profit for the same period was 92.3 million yuan, placing Grinda 19th in the industry, again trailing behind leaders like Anji Technology and Dinglong Co., which reported 608 million yuan and 585 million yuan, respectively [2]. Group 3: Financial Ratios - As of Q3 2025, Grinda's debt-to-asset ratio was 8.31%, down from 9.96% year-on-year and significantly lower than the industry average of 28.64%, indicating strong debt repayment capability [3]. - The gross profit margin for Q3 2025 was 30.72%, a decrease from 34.87% year-on-year, and slightly below the industry average of 31.60% [3]. Group 4: Management and Shareholder Information - The total compensation for General Manager Fang Weihua was 1.0482 million yuan in 2024, a decrease of 81,700 yuan from 2023 [4]. - As of September 30, 2025, the number of A-share shareholders increased by 19.04% to 17,400, while the average number of circulating A-shares held per shareholder decreased by 16.00% to 11,500 [5].