Core Insights - The company, 商络电子, is a leading electronic component distributor in China, established in 1999 and listed on the Shenzhen Stock Exchange in 2021, with a strong supply chain management capability [1] Group 1: Business Performance - In Q3 2025, the company's revenue reached 6.189 billion yuan, ranking second among 18 companies in the industry, while the industry leader, 三环集团, reported revenue of 6.508 billion yuan [2] - The net profit for the same period was 136 million yuan, placing the company eighth in the industry, with the top performer, 三环集团, achieving a net profit of 1.958 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 68.85%, an increase from 63.19% in the previous year, significantly higher than the industry average of 31.50% [3] - The gross profit margin for Q3 2025 was 12.96%, up from 12.08% year-on-year, but still below the industry average of 27.75% [3] Group 3: Executive Compensation - The chairman, 沙宏志, received a salary of 1.1962 million yuan in 2024, an increase of 341,500 yuan from 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 0.88% to 50,600, with an average holding of 9,720.54 shares, a decrease of 0.87% [5] - Among the top ten circulating shareholders, 香港中央结算有限公司 ranked seventh, holding 3.9001 million shares, an increase of 2.4676 million shares from the previous period [5]
商络电子的前世今生：营收行业第二高于均值近两倍，净利润行业第八，资产负债率高于同业