WEDGE(SZ:000534) Xin Lang Cai Jing·2025-10-31 05:43Core Viewpoint - Wanze Co., Ltd. is a private enterprise with significant investment value, specializing in the research, production, and sales of micro-ecological preparations and high-temperature alloys, with a comprehensive capability from material development to component manufacturing [1] Group 1: Business Performance - In Q3 2025, Wanze's revenue reached 941 million yuan, ranking 14th in the industry, while the net profit was 150 million yuan, ranking 10th [2] - The industry leader, Changchun High-tech, reported revenue of 9.807 billion yuan, and the average revenue in the industry was 1.26 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Wanze's debt-to-asset ratio was 60.01%, higher than the industry average of 26.88% [3] - The gross profit margin for the same period was 73.61%, exceeding the industry average of 70.17% [3] Group 3: Executive Compensation - The chairman, Huang Zhengguang, received a salary of 501,200 yuan in 2024, a slight decrease from 503,600 yuan in 2023 [4] - The general manager, Chen Lan, saw an increase in salary to 629,300 yuan in 2024 from 489,700 yuan in 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 0.83% to 26,900 [5] - The average number of shares held per shareholder increased by 0.84% to 18,600 shares [5] Group 5: Future Outlook - Wanze is expected to achieve revenues of 1.35 billion, 1.716 billion, and 2.124 billion yuan from 2025 to 2027, with net profits of 237 million, 309 million, and 386 million yuan respectively [5] - The company has established significant production capacity and partnerships with several overseas energy companies [5][6]