Chitwing(SZ:002855) Xin Lang Cai Jing·2025-10-31 08:40Core Viewpoint - Jie Rong Technology, established in 2007 and listed in 2017, is a prominent manufacturer of precision structural components for the 3C industry, facing significant challenges in revenue and profitability compared to industry leaders [1][2]. Group 1: Company Overview - Jie Rong Technology specializes in providing precision molds, structural components, and high-quality hardware for the 3C industry, with a comprehensive manufacturing capability and certain technological advantages [1]. - The company is involved in various sectors, including virtual reality, small disks, augmented reality, nuclear fusion, superconductivity, and nuclear power [1]. Group 2: Financial Performance - For Q3 2025, Jie Rong Technology reported revenue of 1.268 billion yuan, ranking 48th in the industry, significantly lower than the top competitors, including Industrial Fulian at 60.393 billion yuan and Luxshare Precision at 22.0915 billion yuan [2]. - The net profit for the same period was -293 million yuan, placing the company at the bottom of the industry rankings, with a stark contrast to the profits of industry leaders [2]. Group 3: Financial Ratios - As of Q3 2025, Jie Rong Technology's debt-to-asset ratio was 84.61%, a substantial increase from 63.68% year-on-year, indicating high financial pressure compared to the industry average of 44.84% [3]. - The gross profit margin was reported at 5.39%, down from 10.46% year-on-year, and below the industry average of 19.47%, reflecting weak profitability [3]. Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 14.46% to 35,400, while the average number of circulating A-shares held per shareholder increased by 16.90% to 6,958.91 [5]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited ranked fifth, increasing its holdings by 372,100 shares [5].